As home prices rise, investors are getting more jittery about home flipping.Single-family homes and condos flipped in the third quarter yielded an average gross flipping profit of $66,448 per flip, according to ATTOM Data Solutions’ Q3 2017 U.S. Home Flipping Report. That is down from 51.2 percent a year ago, and it marks the lowest average gross flipping ROI since the second quarter of 2015, according to ATTOM Data Solutions, a real estate dat
Borrowing costs are increasing, but home buyers can still snag an interest rate that is lower than a year ago.“This week’s survey reflects last week’s uptick in long-term interest rates, with the 30-year fixed mortgage rate up 4 basis points to 3.94 percent,” says Len Kiefer, Freddie Mac’s deputy chief economist. “The 30-year mortgage rate has been bouncing around in a 10 basis point range since September. While long-term rates have
Many home shoppers don’t think about purchasing a house during the holiday months—many even put their home search on hold. But Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla., offers some points to pass on to your clients, letting them know this is one of the best times of the year to shop for a house.Less Competition, Better Prices.Let your clients know that the holiday months work in their favor. “Instead of
Investors shifted their focus back to the Midwest this year, according to a new report released by HomeUnion, an online real estate investment and management firm.HomeUnion analyzed two years of sales data on single-family rental properties nationwide to find the most popular markets with investors this year. Metros located in the Midwest dominated its top 10 list, with Chicago in the top spot.“The list highlights the growing popularity of Midw
Millennials are taking out the greatest share of all new mortgages and buying homes across price ranges. But a new study also shows they’re going more into debt at an alarming rate.Realtor.com®’s research team analyzed records for more than 3.2 million mortgages originated from January 2013 to October 2017 and divided it by age groups.“It’s a mixed bag for millennials,” says Danielle Hale, realtor.com®’s chief economist. Young adu
Homeowners will have to reach deeper in their pockets to afford a real Christmas tree this year because of lower supplies that are contributing to a 10 percent hike in prices over last year, The New York Times reports. “We’re not going to be short; everybody looking for a real tree will be able to get one,” says Doug Hundley, a spokesman for the National Christmas Tree Association. “But it is a tight market, and prices will rise.”Whi
In an outpouring of letters to their elected representatives, REALTORS® were influential in spurring Congress to make key changes in the House and Senate tax reform plans, says Elizabeth Mendenhall, president of the National Association of REALTORS®. But as lawmakers prepare to reconcile the two proposals into one bill, more work needs to be done to protect the country’s middle-class homeowners.“REALTORS® support tax cuts when done in a fi
Seventy-three percent of home sales closed on time in October, but 25 percent of REALTORS® report a delay in getting to the settlement table, according to the latest REALTORS® Confidence Index, a survey based on responses from more than 3,500 real estate professionals. Only 2 percent say a contract was terminated completely.What are the main problems encountered with delayed settlements? Real estate pros report the following: Issues related to
A New York–based rental platform for landlords and tenants has announced that it will start accepting bitcoin for monthly rental payments through its mobile app early next year. The platform, ManageGo, will then convert the bitcoin to dollars using Coinbase, a digital cryptocurrency broker. Landlords will ultimately receive rental payments in dollars.But the value of bitcoin can be volatile, so ManageGo says the value of the currency will be lo
During the Great Recession, home values dropped an average of 30 percent in several metros. Now, nearly a decade later, how are those markets faring?SmartAsset, a personal finance resource, sought to pinpoint the metros that have recovered the most since the recession. They factored in several metrics, including the unemployment rate, poverty rate, change in median household income, and the change in median home values.Four of the top 10 cities t
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