After three weeks of mostly staying steady, average mortgage rates rose this week. However, rates still remain at multiyear lows, keeping borrowing costs low for those shopping for homes this summer.“The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short-term interest rates, which should provide support for business and investor sentiment,” says Sam Khater, Fredd
Technology is entering more bathroom design, and it’s one of the top design trends of the year, according to the 2019 Bathroom Design Trends Study from the National Kitchen & Bath Association. The survey results are based on responses from 583 NKBA members, consisting of designers, remodelers, architects, and product manufacturers.Some of the technology solutions seeing the most growth in popularity are temperature control and thermostat sm
The 2019 hurricane season has begun, with tropical storm Barry last week threatening the Gulf Coast. The U.S. Census Bureau released new data that shows 60.2 million residents live in areas that are vulnerable to hurricanes, living near the Atlantic and Gulf of Mexico regions.Populations are rising in the areas most vulnerable to hurricanes. About 8.3 million people moved to the Atlantic and Gulf of Mexico regions between 2000 and 2017, a 16% inc
Homeowners are spending more to improve their homes, not necessarily on home maintenance.Homes may be aging in the U.S., but don’t assume the age of a home is prompting more spending. A new report from HomeAdvisor, a home remodeling resource, finds that homeowners spent $3.70 less for every year since a home was built. That means the owner of a 100-year-old home could spend an average of $370 less on emergency home projects per year than t
The homeownership rate of black Americans hit an all-time low in the first quarter of this year as black communities continue struggling to recover financially from the housing crisis a decade ago, recent U.S. Census Bureau data shows. The black homeownership rate has dropped 8.6 percentage points since peaking in 2004.“We can see that discrimination is still there, although it has changed its form,” Michela Zonta, a senior policy analyst at
Clients take priority for professionals working in a service-based industry like real estate. Prospects will likely want to work with the same agent again after having a high-quality experience, and they might even refer others to working with their agent. To ensure you’re always putting your best customer-service foot forward, a recent Forbes.com article highlights common traits that many successful service-based businesses share.Agents a
Investors are increasingly eyeing senior housing and plan to increase their buying within the sector over the next 12 months, according to the CBRE U.S. Seniors Housing & Care Investor Survey. Sixty-two percent of investors surveyed say they intend to increase the size of their portfolios with elderly living segments over the next year.“Senior housing demand should remain at relatively healthy levels through 2019, given expected steady
Nearly 30% of Americans believe that there is a negative social stigma against renters, according to a new survey from Apartment List. This belief is held by renters and homeowners alike.“Some of what we found was surprising,” says Igor Popov, chief economist at Apartment List.Apartment List surveyed more than 5,000 participants in June across the country. Some of the survey respondents referred to renters as “second-class citizens”
Lower mortgage rates are bringing out more potential home buyers. In certain parts of the country, this has translated into a lot more competition. In markets that have seen prices become more moderate, supply is lower than it was a year ago and bidding wars are becoming more prevalent. For example, a recent Redfin housing index notes that cities like Oklahoma City; Richmond, Va.; Memphis, Tenn.; Buffalo, N.Y.; and Atlanta are seeing buyer d
A “move-in ready” home may mean different things to different buyers—everything from having freshly painted walls to having window blinds included.Bungalo, a real estate platform for buying newly renovated homes online, surveyed more than 550 home shoppers between the ages of 25 to 54 on what elements are required for a home to be considered “move-in ready.”If you’re going to use the term to describe your listing, here’s what most b
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