Four economists outlined what they think the housing market will do in 2017Key Takeaways Homes are getting snapped up almost as quickly as they're being put on the market. Mortgage rates are expected to continue to rise, which could "lock in" some sellers and incentivize them to stay put. Equity is rising, but inventory remains a problem in many markets.DENVER — Lawrence Yun, the chief economist at the National Association of Realtors (NAR), ha
Buyers are absorbing the increased costs of new construction lotsDENVER — The home price surge happening across markets right now feels uncomfortably familiar. 2006, anyone?Indeed, prices are back to levels that they hit at the peak of the bubble.But this time different forces are at play, said HomeAdvisor Chief Economist Brad Hunter in a presentation this morning at the National Association of Real Estate Editors conference. Rising home prices
Your buyers may soon be able to bring less to closing. They were blamed for precipitating the housing crisis years ago, but major lenders are giving no- and low-down payment loans another shot.Several major lenders are reportedly offering loans with just 1 percent down. Navy Federal, the nation’s largest credit union, offers its members zero-down mortgages in amounts up to $1 million. NASA Federal Credit Union markets zero-down mortgages as wel
On Wednesday, the Federal Reserve took a largely expected move to raise its key interest rate one-quarter percentage point. This marks the second of three hikes that is expected to occur this year.“The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation,” according to the Fed’s statement.While mortgage rates aren’t directly
Google owner Alphabet Inc. is dipping its toe into the real estate industry in order to help its employees deal with escalating housing costs in Silicon Valley. The tech giant purchased 300 apartment units from a modular-home startup known as Factory OS. The apartment units are expected to serve as short-term housing for Google employees, The Wall Street Journal reports.The cost of the deal is reported to be between $25 million and $30 millio
A major tax advantage for the commercial real estate industry may be one of the casualties in a sweeping federal tax reform expected this year, The Wall Street Journal reports.Some lawmakers are eyeing the 1031 exchange provision to get the tax-rate cut they seek. The provision allows sellers of real estate and other assets to defer capital gains taxes by reinvesting any profit in “like-kind” properties. The 1031 exchange applies to a range
The No. 1 challenge? Polarization and political uncertaintyKey Takeaways Political uncertainty affects trade, consumer prices, home prices and mortgage interest rates. Big baby boomer and millennial populations (who want different things in their homes) are causing generational disruption and housing mismatch. The proliferation of real estate technology is also going to have a big impact on consumers, agents and brokers.DENVER — Every year, the
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The original "Stars and Stripes" version of the U.S. flag, designed by Betsy Ross, was adopted by Congress on June 14, 1777. Tomorrow marks the flag's 240th birthday—Flag Day—a day when homeowners across America will display the flag proudly outside their doorsteps. But before the flag is raised, pass on these tips to your sphere from the Veterans of Foreign Wars on proper flag etiquette. Never let the flag touch the ground. When flown on the
Night people vs. day people: There may be a perfect city for you.After all, some cities may be more in tune to the routines of early risers, while others may be better suited for those who prefer to stay up to the wee hours of the night. Realtor.com®’s research team scoured city data for average bedtimes, the percentage of home buyers using realtor.com after 10 p.m. (for night owls) and before 9 a.m. (for early risers), the number of restauran
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