Banks continue to clean out the pipeline of loans that were originated during the housing boom days that have since turned sour.Most of the homes that are still being foreclosed on are from loans originated between 2004 and 2008, known as “legacy foreclosures,” according to ATTOM Data Solutions’ 2016 U.S. Foreclosure Market Report.The following markets are seeing the biggest cases of backlogs with legacy foreclosures: District of Columbia:
Open floor plans continue to reign. Eighty-four percent of builders say that in the typical single-family home they build, the kitchen and family room arrangement is at least partially open. Fifty-four percent say it’s completely open, according to responses from a September 2016 National Association of Home Builders/Wells Fargo Housing Market Index.“Completely open” essentially means the two areas are combined into the same room. Partially
Have you heard from clients who want to delay listing their home until the season begins? Because sales and prices tend to peak in the spring and summer, it's a common request in many markets.However, this year is different. Jonathan Smoke, realtor.com®’s chief economist, stresses in his latest column that the conventional wisdom isn't correct this winter.Here’s why: At the beginning of 2017, inventory levels plunged to multiyear lows. Selle
There were plenty of new ideas, features, and designs of interest to the real estate community at the 2017 International Builders’ Show and the Kitchen & Bath Industry Show, both held in Orlando, Fla. last week. We were there to gather the top trends and buzzwords you need to know about now.Modernity in Moderation It turns out designers, home builders, and consumers have different ideas of the meaning and salability of the term “modern,"
Total mortgage applications – including for refinances and home purchases – were essentially flat last week, rising just 0.8 percent on a seasonally adjusted basis, despite mortgage rates at their lowest averages in a month. The Mortgage Bankers Association reported Wednesday that applications are now 14 percent lower than a year ago.Refinance applications have been falling significantly over the last few weeks as interest rates have edged hi
For prime investment locations, it may be time to look South. Forbes teamed up with Local Market Monitor, a company that tracks more than 300 housing markets, to uncover the top cities for investors in the new year. The markets that dominate this year’s list reflect two major benefits: affordability and growth.“If you are planning on making an investment, either by buying a home or by buying a rental property, these are really good markets,
Taylor Morrison is the most trusted among national home builders, according to the results from Lifestory Research America’s Most Trusted 2017 Home Builder Study. The study tracks more than 100 builder brands in the 35 largest U.S. housing markets, and collects the perceptions of trust in home-builder brands as expressed by more than 31,000 would-be buyers."When a brand attains the trust of people, the brand stands apart from all others," says
Homeownership rates are down across the board, but they're dropping most among millennials, who saw rates plunge from 40 percent in 2006 to 32 percent in 2015.However, in a few American cities, millennials are bucking the trend, opting to buy over rent, according to a recently released analysis by SmartAsset.com that looked at homeownership rates among household heads who were less than 35 years old.Researchers found that in some cities the homeo
Police have discovered and identified the remains of a Kingman, Ariz., real estate professional who has been missing for the past two years. Sidney Cranston Jr., 40, was last seen showing a property in June 2015 to an unknown client. He had been missing ever since.Kingman police say authorities discovered the body buried in the foothills east of Kingman. Upon examination, the Medical Examiner’s Office determined the cause of death to be a gun s
Technology is reshaping the real estate industry in more ways than one. Brokers looking to attract new, tech-savvy agents and staff should take note of some workplace trends and tools that are becoming more commonplace — even expected, according to Allison & Taylor, a Michigan-based company that offers reference and background check services.New Internal Communications Tools. Overflowing email inboxes and the rise of text messaging has ushe
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