he typical American household isn’t typical anymore. Nuclear families account for only 20 percent of buyers today, far outnumbered by singles living alone and childless couples. But many developers are still gearing single-family homes to the traditional family arrangement, says Chrysanthe Broikos, an architectural historian and curator at the National Building Museum in Washington, D.C. It’s time to start thinking about homes and living spac
Real estate stands apart from other sectors of the economy because it is built on a model that encourages competing businesses to work together, said Ralph Holmen, former associate general counsel of the National Association of REALTORS®. He spoke April 5 in Washington, D.C., during a panel session on competition in the residential home sales industry.Ralph Holmen speaking on a panel addressing competition in the residential real estate industr
Ten cities are banding together in a new effort to create a place for city leaders to find solutions for improving affordability and reducing evictions. The effort, launched in late March, is called the PolicyLink All-in Cities Anti-Displacement Policy Network. Mayors, city council members, and senior city staff members from 10 U.S. cities are meeting next week to draft policy ideas and solutions.The cities hope that by teaming up they’ll be a
San Francisco homeowners and buyers are seeing some of the biggest price jumps in recent months. The median price for a single-family home in the city increased $100,000. Prices have reached an all-time high of $1.6 million, according to the Paragon Real Estate Group in San Francisco. For comparison, the median home price nationwide was $279,900 on March 1, according to realtor.com®.Home prices in San Francisco increased nearly 24 percent in the
Some home shoppers are feeling hopeless this spring and making competitive moves in order to get a home. They’re reportedly rushing to making offers without seeing homes first, bidding well above the asking price, or waiving inspections entirely to get sellers to find their offer the most alluring.“For home buyers, this is shaping up to be one of the most difficult years in recent memory,” says Ralph McLaughlin, chief economist of Veritas U
The median list price for homes nationwide this March have now topped a record high set in 2017. The median list price was $280,000, up 8 percent year over year in March, topping last July’s record of $275,000, realtor.com® reports.Not only are home prices higher but homes are also selling faster this year. Days on the market dropped 7 percent compared to last year, reaching a median of 63 days in March. There are also fewer homes for sale, wi
Many homeowners faced higher property tax bills in 2017. Property taxes levied on single-family homes in 2017 totaled $293.4 billion, up 6 percent from 2016.The average property tax on a single-family home in 2017 was $3,399 per home at an effective tax rate of 1.17 percent, according to ATTOM Data Solutions, a real estate data firm, from its analysis of more than 86 million U.S. single-family homes.But some places saw much higher rates than that
Owners love their homes so much that they are commissioning high-priced miniature versions of them to display. How high-priced? Sometimes they pay thousands for these replicas, Bloomberg reports.The miniature homes are small enough to fit on a tabletop and are known for their attention to detail reproducing the home’s architectural features.Lisa Macpherson, a veteran marketing exec, recalls two years ago giving her boyfriend a miniature versio
Do-it-yourself home improvement jobs are popular, but do most homeowners have the knowledge to confidently handle such chores? A new survey suggests millennials may be the most willing, but they’re most likely to lack the how-to knowledge.Porch.com surveyed respondents from each generation to assess their handiness around the house and what repairs they’ve done. They also quizzed them on basic home maintenance knowledge. They analyzed more
Multiple listing consortium MLS RoundTable announced today that it will move toward creating a consolidated backend, combining feeds, eliminating RETS servers, and other changes.The group counts more than 300,000 real estate professionals under its service umbrella, with Bright MLS on the East Coast, CRMLS in California, CarolinaMLS in the Charlotte area, MLS PIN in Massachusetts, Chicagoland’s MRED, NorthstarMLS representing Minnesota and Wisc
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