Car lovers “want to jump in the car with their family or friends and go on scenic drives—and maybe some open spaces where they can kick up the turbo,” Tim Jackson, president of the Colorado Automobile Dealers Association, told realtor.com®. “Car lovers will gravitate to those cities that provide a good network of streets and roads. And they want to avoid intense congestion.”Realtor.com® researchers looked at the best and worst urban
As housing shortages persist, developers are eyeing old shopping malls—which often include large parcels of land—for redevelopment into residential projects. In California, which is suffering from severely tight housing inventory, developers are jumping on the trend. A nearly vacant mall in the San Fernando Valley, for example, will soon be turned into a residential neighborhood with 1,400 homes, retail shops, and a concert venue. And a mall
When homeowners began taking out more home equity lines of credit, economists warned that the number of defaults may rise as borrowers face higher monthly payments. But so far, fears surrounding a HELOC boom haven’t been realized.From 2000 to 2006, when home prices were rapidly increasing in the run-up to the housing collapse, many homeowners took out HELOCs, initially being required only to pay interest on outstanding balances for a set period
Low inventory continues to plague real estate markets across the country, but what effect is this having on young buyers? Berkshire Hathaway HomeServices surveyed prospective homeowners in their latest Homeowner Sentiment Survey to find out if they still think now is a good time to buy a home. Overwhelmingly, they said, “yes.”More than 71 percent of the 2,518 respondents—many of whom are millennials—believe now is a good time to buy a hom
Home prices likely will continue to rise over the next year as buyer demand continues to outstrip supply in many markets, according to the August 2017 REALTORS® Confidence Index.That bodes well for homeowners, but buyers are likely going to face even higher prices in the coming months as well as continued competition from the limited number of homes for sale, according to the report.Thirty-nine percent of properties in August sold at or above t
Real estate professionals are desperate to find more homes to list. Some homeowners say they’d sell if they could, but their mortgage is still too high. Nearly 3 million homeowners still remain in a negative-equity position in their home.That translates to about 5.4 percent of all properties with a mortgage that remain in a negative-equity position, in which the owners owe more on the mortgage than their home is currently worth, according to re
Green home construction has moved into the mainstream among single-family and multifamily home builders, according to the new report “Green Multifamily and Single Family Homes 2017 SmartMarketBrief.” The report was conducted by Dodge Data & Analytics in conjunction with the National Association of Home Builders.At least one-third of builders surveyed say green building is a significant share of their overall activity (more than 60 percent
California continued to dominate realtor.com®’s latest rankings of top-performing housing markets. The state boasted 11 metros on this month’s top 20 list for markets that are seeing the quickest sales and most buyer demand online at realtor.com®.For the first time in several months, Vallejo, Calif., fell from its number-one ranking to third place, while San Jose and San Francisco assumed the top two spots on the list.Nationwide, the median
Homeowners looking for a remodeling project may be smart to tackle a kitchen renovation—that is, if they’re looking for projects with the strongest buyer appeal and high returns on their investment at resale.Kitchen renovations and upgrades are among the top remodeling projects most likely to add value to a home at resale and most likely to appeal to home shoppers, according to the 2017 Remodeling Impact Report, conducted by the National Ass
Homeownership would no longer be a priority in the tax code if a reform plan released Wednesday by the Trump administration and congressional Republicans becomes law. The “Tax Reform Unified Framework,” known as the “Big 6” tax reform plan, is being touted as a way to cut taxes for the middle class. But it could hurt residential real estate by eliminating most itemized deductions in return for an increase in the standard deduction.Althoug
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