As the housing market cools quickly, house flippers are finding it harder to make fast profits.In the third quarter, gross flipping profit, which is the difference between the median purchase price paid by investors and the median resale price, dropped to $62,000, according to ATTOM, a real estate data provider. That’s down 18.4% from the second quarter and down 11.4% year-over-year. It represents the smallest profit since the end of 2019 and t
Smart home tech isn’t just for the single-family home. These systems and devices can improve property management, reduce cost and emissions and enhance the tenant experience. Smart home tech in multifamily communities is quickly becoming a must-have for today’s discerning renter, and with good reason. The right technology can play a significant role in improving residents’ experiences and enhancing the ease of operations for onsite staff. B
It has been a decade! A full 10 years of striving to provide better real estate services and lifestyles for everyone in our grasp. We thank every one of our loyal members and look forward to continuing our relationship on even more prosperous grounds. And we also thank each and every individual that has put their faith into our members and worked with us to get your own dreams fulfilled. With over $300 million in sales in over 1K transactions, sa
The latest home design fads often are inspired by the past. Find out the trends from years ago that are among consumers’ favorites.
Media headlines focusing on a pending US housing market crash are based on limited data that's skewed by the outsized 2021 numbers New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.This post has been republished with permission from Mike De
Over the last four weeks, borrowing costs have posted their largest decline since 2008. If all your buyers want for Christmas is a lower mortgage rate—they may just get it.The 30-year fixed-rate mortgage averaged 6.33% this week, according to Freddie Mac, dropping for the fourth consecutive week after hitting a high of 7.08%. Mortgage rates are falling due to increasing concerns about lackluster economic growth, says Freddie Mac Chief Economist
Home staging companies prepare homes for potential buyers, and according to the National Association of Realtors, you will pay top dollar for their services. Some real estate agents also provide advice and staging services, but you might prefer to handle the details yourself. It's important to understand the difference between repairs and upgrades, though. As Opendoor puts it, repairs like replacing a broken water heater are necessary rather
Over the past year, rising inflation and the Fed boosting interest rates in response have caused turmoil in the housing market. Little more than a year ago, mortgage rates were near record lows. Now, they are around 7%, two to three times higher.While some markets have seen housing prices fall in response, in most cases, the drop hasn’t been sufficient to keep mortgage payments for new purchases similar. All of this has resulted in higher housi
New housing construction has fallen but is on par historically The following is one of the hundreds of data sets available on TRD Pro — the one-stop real estate terminal for all the data and market information you need.Given inflation, rising interest rates, economic uncertainty and flatlining home prices, one would expect that housing construction would be at an all-time low.Not even close.Though new housing starts in the U.S. have d
Los Angeles voters approved a tax on the sale of mansions and other multimillion-dollar real estate transactions to raise money for affordable housing in the second-largest US city.The measure, known as Proposition ULA, boosts the one-time transfer tax to 4% for property deals between $5 million and $10 million, and 5.5% for transactions of $10 million and above. The current rate on all sales is 0.45%. The increase takes effect on April 1, and wi
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