More than 90 percent of builders say that rising lumber prices are hampering the affordability of new homes, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Recently surveyed builders say that the higher construction costs are causing more prospective buyers to back out of purchasing a new home as well.Builders are blaming the rising construction costs on the increase in lumber prices over the past year an
Outdoor projects can help boost a home’s value by up to 10 percent, according to a new realtor.com® report. Outdoor showers, barbecue stations, entertainment pools, and firepits are the top projects that realtor.com® researchers found with the biggest potential increases to a home’s price.For its research, realtor.com® analyzed listings at its site for summer-related outdoor features in single-family homes listed for $150,000 or more.An ou
Tom Ferry explains why making more money starts with maximizing your timeMy coach recently asked me a great question.“Tom, are you managing your time powerfully?” she asked.This question really got me thinking. You can’t get more than 24 hours every day. But you can get more from those 24 hours.I left the coaching session with a refocused mindset centered on maximizing every second of every day. Now I want to share four key time-management
What makes a state great for homeowners? According to SmartAsset, a personal finance site, home price growth as well as affordability, and low foreclosures, property taxes, closing costs, and low burglary rates are among the characteristics that make homeownership an attractive investment.To find all of that, you may want to look in the Midwest, according to the analysis. But Western regions also hold quite a few spots on SmartAsset’s “Best S
Home prices are increasing at a faster rate than wages in 64 percent of U.S. markets, according to a new analysis released this week by real estate data firm ATTOM Data Solutions.Median home prices nationwide have risen 75 percent since the first quarter of 2012, while average weekly wages have risen just 13 percent over the same time period, according to the analysis. The counties where median home prices require the highest share of average wag
Borrowers found lower mortgage rates again this week, marking the third decrease in rates in the past four weeks.“After a sharp run-up in the early part of 2018, rates have stabilized over the last three months, with only a modest uptick since March,” says Sam Khater, Freddie Mac’s chief economist. “However, existing-home sales have hit a wall, declining in six of the last nine months on a year-over-year basis.”The National Association
The Trump administration has proposed ending the government’s long conservatorship of mortgage financing giants Fannie Mae and Freddie Mac, which was among a sweeping proposal for reorganizing the government unveiled Thursday. Under the proposal, which still requires congressional approval, Fannie Mae and Freddie Mac would be converted to “fully private entities.”Fannie Mae and Freddie Mac have been under U.S. conservatorship since 2008.
Commercial real estate practitioners stand to benefit from a Supreme Court ruling Thursday giving states the authority to make online retailers collect sales tax. The decision, stemming from online retailer Wayfair Inc.’s lawsuit against South Dakota over such a state law, potentially erases internet sellers’ advantage over brick-and-mortar stores, which are legally required to charge sales tax to customers. Without this advantage, both conve
The number of Americans considered to be “cost-burdened” by rising housing costs has grown by nearly 14 million households over the last 30 years, according to the Harvard Joint Center for Housing Studies’ 2018 State of the Nation’s Housing report. Nearly a third of all households—or 38.1 million—paid more than 30 percent of their incomes for housing in 2016, which financial experts say is too much.Renters, in particular, are facing h
Home prices are climbing across the country, and that has made homeowners more bullish when it comes to the prospects of selling. Seventy-five percent of more than 2,700 households recently surveyed say it’s a good time to sell a house; 68 percent say it’s a good time to buy, according to the National Association of REALTORS®’ second quarter Housing Opportunities and Market Experience (HOME) survey.“Hopefully this strong seller optimism
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