Lots located next to power lines tend to sell for a whopping 45 percent less than similar lots further away from high-voltage transmission lines, according to a new study in the Journal of Real Estate Research. Lots that are non-adjacent to power lines but are located within 1,000 feet of them often sell at a discount of 18 percent, researchers Chris Mothorpe and David Wyman, the authors of the study, found.The study focused on the value of vaca
Existing-home sales slowed for the fourth consecutive month in July, reaching their most sluggish pace in more than two years, the National Association of REALTORS® reports. The West was the only major U.S. region to see an increase in sales last month.Total existing-home sales, which include completed transactions for single-family homes, townhomes, condos, and co-ops, fell 0.7 percent month over month to a seasonally adjusted annual rate of 5.
Compass, a fast-growing New York-based real estate firm, plans to buy Pacific Union International as it focuses on expanding in California, according to news reports. Compass plans to make a formal public announcement about the acquisition Thursday, the reports say.Pacific Union is the nation’s fifth-largest residential real estate firm based on transaction volume; Compass is the sixth, according to real estate news site REAL Trends. Combined,
Why are hospitals getting into the real estate business? Growing research has pointed to a link between living in areas of concentrated poverty and health. Hospitals are hoping by making a difference in how some residents in the community live, they’ll also be able to improve their health too.“It’s remarkably frustrating as a physician to see patients over and over and over again from these very high-risk communities,” Dr. Kelly Kelleher,
More foreclosures sprang up this summer across the country. Forty-four percent—or 96 of 219—metro areas saw foreclosures tick up in July compared to a year ago, according to a newly released report from ATTOM Data Solutions, a real estate data firm. This marks the first annual increase in foreclosure starts nationwide after three years of year-over-year declines each month.The report showed that 30,187 U.S. properties started the foreclosure
Fewer Americans are willing to uproot their lives to move for new job opportunities, suggests new census data.About 3.5 million Americans relocated for a new job last year, a 10 percent drop from 3.8 million in 2015. The number has been trending lower, despite the overall population increasing 20 percent over that time, The Wall Street Journal reports.Why are more people staying put? Experts told WSJ that some blame may rest on rebounding rea
The Department of Housing and Urban Development is accusing Facebook of violating the federal Fair Housing Act and allowing landlords and home sellers to use the social network’s advertising platform to engage in housing discrimination. A Facebook tool enabling advertisers to filter which users see housing-related ads based on race, color, religion, sex, familial status, national origin, disability, or ZIP code limits housing options for prot
More than one in 10 adults—or about 29 million Americans—say they’re losing sleep worrying about their ability to pay the mortgage or rent, according to a new survey by Bankrate.com. Millennials seem to be tossing and turning the most, with 17 percent of people ages 28 to 37 saying concerns over housing costs are causing them to lose sleep. Also, those earning less than $50,000 per year are more than three times as likely to stress about ho
Alliance Residential Company, one of the largest multifamily developers and managers in the U.S., is rolling out a new initiative to outfit 25,000 luxury apartments across the country with smart-home technology through partnerships with Google, Nest, and Dwelo, among others. “We wanted to ensure that from the moment our residents move in, they are able to control multiple aspects of their home—access, climate, and lighting—from a single, si
Are home buyers favoring the Midwest? Home buyer activity is shifting from pricey California to affordable markets across the country. Nearly a third of the markets on realtor.com®’s latest hottest housing market list were in the Midwest, known for its affordable housing compared with many other parts of the country.“With the median home list price hovering at a record level, affordable markets are very attractive for buyers, which is contri
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