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
A shift in consumer shopping patterns toward online marketplaces continues to hit the retail sector and its real estate market hard. The vacancy rate for large U.S. shopping malls rose to 8.4 percent in the first quarter of 2018, the highest since the fourth quarter of 2012, according to new study from real estate data firm Reis Inc. For neighborhood and community shopping centers, Reis found that 41 of the 77 areas they examined saw vacancy incr
The rising cost of purchasing a home is finally sinking in for home buyers and changing their house hunt, particularly for millennials.Seventy-nine percent of all consumer age groups recently surveyed say that rising interest rates will impact their home search, while 83 percent say that increasing home prices will impact theirs, according to a new online survey released by realtor.com® of more than 1,000 active buyers. But those percentages r
A homeowner’s personality can have a big influence on their behavior when it comes to home improvement projects, according to a new survey by the Home Projects Council, a group of home improvement experts that aims to help homeowners improve their property values.The Home Projects Council identified the following five home improvement personality types: The Sensible Improver, the Project Planner, the Reliable Renovator, the Visionary, and the
A recent survey found that buyers are spending more on their home purchase than they intended. A third of homeowners recently surveyed say that they blew through the upper limit of their home purchase budget by an average of $16,510, according to a new survey released by Owners.com of 1,214 Americans who purchased a home in the last four years.A big part of the problem is the increasing costs of buying, particularly for starter homes. “Clearly
Many brokerages can get caught up tending to issues largely driven by internal necessities. From attending office meetings to fighting the everyday fires, brokerages need to be generating profitable revenue growth from the outside with as much effort as they expend toward what’s happening inside. Industry leaders need to prioritize and direct more energy to the marketplace and its clients, rather than getting overly bogged down by meetings and
Homeowners are getting richer, thanks to rising home values. The amount of equity that homeowners can tap into is now at the highest level on record, according to Black Knight Financial Services, a mortgage and finance industry solution provider.The amount a borrower can take out of a home—while still leaving 20 percent in it—increased by a collective $735 billion during 2017. That is the largest annual increase by dollar value on record, acc
U.S. bank regulators said on Monday that more commercial real estate deals can proceed without an independent appraisal of the property’s value.The regulators raised the threshold for commercial real estate transactions that require an appraisal from $250,000 to $500,000. Commercial transactions that are valued at more than $500,000 must still have an independent third-party check on the property value before the bank will process a loan; tr
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