Homeowners who earn a high income are showing a preference for the suburbs—and even the far-out “exurbs”—over downtown living. A Census Bureau analysis of the 53 largest U.S. metros shows that only 3 percent of homeowners employed full-time who make more than $75,000 annually live downtown, while 11.4 percent live in inner-ring neighborhoods. But 14 percent live in the exurbs, and 71.5 percent are in the suburbs.In 2015, a $75,000 salary
Retiring baby boomers are less likely to be mortgage-free compared to people their age in previous generations, according to Fannie Mae. That could hurt boomers’ financial security and exacerbate the housing affordability crisis.Slightly less than 50 percent of the oldest baby boomer homeowners in 2015 were mortgage-free, 10 percentage points lower than the number of Silent Generation homeowners who were in the same age group in 2000 and mortga
iPro currently deals throughout the states of California and Texas with new offices in New York and Florida. The company continues to strive and broaden opportunities for real estate professionals and consumers. Visit www.iprore.com for the latest information and links.Click here for information on becoming a salesperson
More new homes are coming equipped with front porches. Sixty-five percent of new single-family homes started in 2016 included a porch, according to a Census data analysis from the National Association of Home Builders. It’s only the second time since tracking began that new single-family homes with porches have moved back above 65 percent. For comparison, in 2005, 54 percent of new homes had porches.Certain regions of the U.S. are showing high
The share of households considered burdened by high rents is dropping, according to the 2017 National Rental Housing Landscape, a report published by New York University’s Furman Center for Real Estate & Urban Policy. But that doesn’t necessarily mean landlords are slashing rents.Researchers say the reason for the drop is mostly due to the higher number of wealthier families who are opting to rent. This has allowed landlords to raise pri
Some desperate home buyers who aren’t able to save enough for a down payment are turning to crowdfunding.And mortgage lenders are making it easier for buyers to do so. CMG Financial, a mortgage provider, launched HomeFundMe, an online platform to allow borrowers to crowdfund the down payment of a home purchase without fees. The crowdfunding platform also has the backing of mortgage finance giants Fannie Mae and Freddie Mac.Saving for the down
The 30-year fixed-rate mortgage inched upwards this week, averaging 3.85 percent. It’s the highest average in six weeks, Freddie Mac reports.“After holding steady last week, rates ticked up this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 10-year Treasury yield rose 8 basis points, while the 30-year mortgage rate increased 2 basis points to 3.85 percent.”Freddie Mac reports the following national averages with mortg
The places that hipsters tend to call home are among some of the hottest housing markets in the country, according to a joint study by realtor.com® and Yelp. Based on the rankings, Columbus, Ohio, earned the No. 1 spot as the hottest hipster market.Columbus (and more specifically its ZIP code 43202) ranked first out of 50 cities for best markets for hipsters—that is, those who embrace the indie culture and tend to embrace lifestyles of artis
Whether you’re making a listing presentation to potential clients or speaking in front of a group of agents, there are subtle ways to appear more confident, likable, and approachable while speaking with authority. Business strategist Marc Gordon offers these five tips that will help you “fake it ’til you make it.”1. Dress the part. When choosing an outfit, consider two factors: whom you’re speaking to and where you’ll be speaking. Th
Your sweat equity will pay dividends when the home sellsKey Takeaways The key to staging a home on a budget is manual labor with a detail-oriented focus.Staging a home on a budget isn’t as hard as you may think. As a real estate agent, you can advise sellers on how to instantly boost the appeal of their home using tricks of the trade that cost little or no money and bring a huge return on investment.Small changes add up to create buyer-friendl
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