Millennials tend to have higher expectations than older homeowners did about their ideal starter home, according to a new survey by Clovered, a home insurance resource. Millennials tend to want larger homes with modern designs.More millennials are entering the housing market for the first time. Clovered recently surveyed more than 1,000 consumers about their first home to learn which features and amenities mattered to them the most.The top factor
Many home sellers are forgetting to hide their prescription drugs prior to an open house, warn real estate professionals.Besides staging, decluttering, and stowing away jewelry or valuables, home sellers are overlooking the need to tuck prescription drugs away from medicine cabinets and drawers, they say. A recent article at realtor.com® warns of the dangers and calls out specific medications like Oxycontin, attention deficit disorder medic
Tech companies this year have been committing billions to responding to housing shortages in the Golden State. Apple is the latest, announcing this week that it would allocate $2.5 billion to help address the housing availability and affordability crisis in California.Homeownership in the Bay Area is at a seven-year low. Sixty-three percent of millennials surveyed earlier this year said they were considering moving out of California due to high h
For the third consecutive week, the interest rate for the 30-year fixed-rate mortgage increased. The rise came despite the Federal Reserve cutting its key benchmark rate for the third time this year. The Fed’s interest rate often influences mortgage rates.However, home buyers are still taking advantage of historically low mortgage rates, Freddie Mac reports. “Purchase activity continues to show strength, indicating obvious homebuyer dema
While low mortgage rates have made it cheaper to buy a home, finding the right property remains a challenge for home buyers, realtor.com® reports in its October 2019 housing report. Would-be buyers are finding that a worsening inventory shortage is heating up competition in the housing market this fall.“Owning a home continues to be a priority for buyers as we head into the cooler months of the year,” says George Ratiu, realtor.com®’s sen
For the second time in as many years, Ben Caballero, broker-owner of HomesUSA.com in Dallas, has broken the Guinness world record for the highest number of home sales in a single year. He sold 5,801 homes in 2018—exceeding $2 billion in sales volume—which translates to an average of more than 100 home sales a week, or nearly 16 every single day of the year.Caballero also won the Guinness title last year after selling 3,556 homes in 2016. He b
From shiny kitchen cabinets to wooden ceiling beams, several home design trends aim to liven up neutral interiors in the new year. Home remodeling website Houzz recently asked designers to chime in about what design trends they expect to grow more popular over the next few months. Here are a few trends they flagged.High-gloss kitchen cabinetry. Flat-panel cabinets with a high-gloss finish are gaining popularity, Kimmie Rokahr, a designer wit
A surge in first-time home buyers is expected to hit the housing market over the next three years. About 8.3 million first-time buyers are projected to enter the mortgage market between 2020 and 2022, predicts a new report from TransUnion. That marks a jump from the 7.6 million first-time buyers that were added in the previous three-year period between 2016 and 2018.However, plenty of housing market challenges persist for new buyers, including hi
For the third time this year, the Federal Reserve cut interest rates by a quarter point in an attempt to bolster a slowing economy. The federal funds rate will hover between 1.5% and 1.75%.The Fed’s benchmark rate does not directly affect long-term mortgage rates, but it does often influence them. The latest rate cut has economists torn on the effect it could have.Mortgage rates have been falling for nearly a year. The average 30-year fixed-rat
More than 1.5 million—or 1.5% of U.S. single-family homes and condos—were vacant in the fourth quarter, shows a newly released report from ATTOM Data Solutions. That marks a vast improvement, but so-called “zombie” foreclosures are still plaguing some housing markets.Despite an ongoing housing shortage, several markets are still dealing with zombie foreclosures. These are homes that have been vacated by the owners and remain vacant while
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