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Mortgage Rates Haven’t Been This High in 7 Years

NAR Daily News Magazine - May 25, 2018 - 12:00am

“Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years,” says Freddie Mac’s...

Categories: Real Estate

Are There New Homes on Sale?

NAR Daily News Magazine - May 25, 2018 - 12:00am

Buyers who want new-construction may be able to score a deal.

Categories: Real Estate

Housing Will Likely Surge in These Cities

NAR Daily News Magazine - May 25, 2018 - 12:00am

The fastest-growing metros aren’t on the coasts. See which places are finding big population spikes and where markets are likely to soar.

Categories: Real Estate

Berkshire Named ‘Real Estate Brand of the Year’

NAR Daily News Magazine - May 25, 2018 - 12:00am

The industry giant received top props from consumers on brand familiarity and influence in the 2018 Harris Poll EquiTrend study.

Categories: Real Estate

3 Questions Clients Should Ask Before Buying a Vacation Rental

NAR Daily News Magazine - May 24, 2018 - 12:00am

Many new investors are diving into the short-term rental market. Make sure they’re well-informed before they start their search.

Categories: Real Estate

What People Would Sacrifice to Buy a Home

NAR Daily News Magazine - May 24, 2018 - 12:00am

A new survey finds buyers are willing to make extreme sacrifices and even give up some basic rights for a chance at homeownership.

Categories: Real Estate

Sales Struggle to Overcome Housing Shortages

NAR Daily News Magazine - May 24, 2018 - 12:00am

“The root cause of the underperforming sales activity in much of the country so far this year continues to be the utter lack of available...

Categories: Real Estate

New-Home Sales Bring Spring Disappointment

NAR Daily News Magazine - May 24, 2018 - 12:00am

Some economists are wondering if the higher price tags mixed with rising interest rates are starting to make buyers skittish.

Categories: Real Estate

Judge Evicts 30-Year-Old From Parents’ Home

NAR Daily News Magazine - May 24, 2018 - 12:00am

Could this be a precedent for booting older kids out of the house?

Categories: Real Estate

Report: Outside Remodeling Projects Pay Off

NAR Daily News Magazine - May 24, 2018 - 12:00am

Enhancing outdoor space can yield a strong return, both financially and in homeowner enjoyment.

Categories: Real Estate

Younger Pros Are Feeling More Stressed

NAR Daily News Magazine - May 24, 2018 - 12:00am

The millennial generation of real estate practitioners may be experiencing more stress in the workplace than their older colleagues,...

Categories: Real Estate

NAR Cheers Effort to Ease Restrictions on Small Banks

NAR Daily News Magazine - May 23, 2018 - 12:00am

“We commend members of Congress for passing this bipartisan legislation to level the lending playing field for community banks and credit...

Categories: Real Estate

HomeServices Acquires Ebby Halliday’s Brand

NAR Daily News Magazine - May 23, 2018 - 12:00am

Even though Warren Buffet’s company is absorbing the pioneering brand, it will remain the same.

Categories: Real Estate

5 Office Remodel Mistakes to Avoid

NAR Daily News Magazine - May 23, 2018 - 12:00am

Whether you’re hoping to spruce up your own brokerage space or working with clients in the office sector, there are several trends you don...

Categories: Real Estate

Spike in Rates Dampens Loan Applications

NAR Daily News Magazine - May 23, 2018 - 12:00am

Rising interest rates last week may have prompted would-be refinancers and home buyers to pause.

Categories: Real Estate

The Best Housing Markets for Home Flippers

NAR Daily News Magazine - May 23, 2018 - 12:00am

Find out where investors are making bigger profits in shorter time periods when flipping homes.

Categories: Real Estate

More Homes Built With Renters in Mind

NAR Daily News Magazine - May 23, 2018 - 12:00am

The single-family built-to-rent market is on the rise.

Categories: Real Estate

Zillow: $40 Billion to Flood Into Housing Market, Even as Homeowner Incentives Limited

RisMedia Consumer News - May 22, 2018 - 3:51pm

Americans’ earnings, generally, have gotten a lift on payday as a result of the Tax Cuts and Jobs Act. With cuts come more discretionary spending—and, although there are changes to homeowner incentives, almost $40 billion of it is going into the housing market, according to a new report by Zillow.

“Despite new limits to two longstanding tax benefits for homeowners, the typical American taxpayer saw their tax burden fall in 2018 as a result of tax reform,” says Aaron Terrazas, senior economist at Zillow. “Some of these tax savings will still find their way into the American housing market, even though they were not explicitly targeted there, as renters and homeowners decide to use their tax savings to rent or buy a bigger home, or renovate their existing home.”

Approximately $13.2 billion is estimated to flood into market as owners and renters trade up, while $24.7 billion is expected to be invested in remodeling projects, the report reveals. With an average $1,610 saved per taxpayer (according to the nonpartisan Tax Policy Center), homeowners are projected to spend 15 cents on the dollar to renovate; renters, 11 cents to trade up.

The disparity between dollars for remodeling and trading up is in line with a growing trend: homeowners are forgoing moving up and investing in projects instead of purchasing. While the existing housing stock is in need of updates, when homeowners stay put, inventory shrinks—and currently, inventory is at its lowest on record.

According to the report, compared to higher-income households, Americans in the bottom income tier—who average $60 in savings from the Tax Cuts and Jobs Act—are allocating more of those savings to trade up.

“Lower-income households will spend more of their tax cut on buying or renting a bigger home, adding demand to an already rapidly appreciating housing market,” Terrazas says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Zillow: $40 Billion to Flood Into Housing Market, Even as Homeowner Incentives Limited appeared first on RISMedia.

Categories: Real Estate

3 Pros, 3 Cons of Buying New Construction

NAR Daily News Magazine - May 22, 2018 - 12:00am

Many house hunters are under the mistaken impression that new homes are flawless and, therefore, more valuable than resale property. Here’s...

Categories: Real Estate

.Realestate Domains Are Coming This Fall

NAR Daily News Magazine - May 22, 2018 - 12:00am

The National Association of REALTORS® has announced it will be launching the new top-level internet domain later this year.

Categories: Real Estate

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