Each Friday we share with you the must-read, real estate news of the week. We’ve got everything you need to know to stay on top of breaking industry news and trends.
Grab your coffee and get reading!
“36 Charts Outlining Home Seller Trends In 2011”
The 2011 National Association of Realtors® Profile of Home Buyers and Sellers surveyed 5,708 home buyers and sellers, discovering that the demographics among buyers and sellers have changed this year, both of which are older, have higher incomes and are more likely to be married. Most people selling their home cited their top reasons as job relocation, a home that is too small, or the desire to be closer to friends and family. The typical seller was in their home for 9 years before selling. Fully 87 percent of sellers turned to an agent to sell their home with 10 percent selling via FSBO. Home sellers fetched a median 95 percent of the listing price on the typical home and the average time on market was 9 weeks. Home equity dropped from 24 percent last year to 16 percent this year, with a $26,000 gain. Continue reading . . .
“Let It Snow: Housing Market Heats Up”
Home buying usually goes into hibernation in the winter months, but according to a new report, the market might be shaking off December’s chill. A new set of house keys under the Christmas tree, anyone? Mortgage activity, which measures both refinancing and new applications, jumped almost 13 percent last week, according to the Mortgage Bankers Association, as interest rates continued their downward march. Continue reading . . .
“Top Five Most Rewarding Cities For Being A Landlord”
Rents are up, vacancies are down, and investors are making up more of the home buyer market than in recent years. The tides are turning and the natural real estate cycle is kicking back up – it will be a great time to be a landlord for a few years, then we’ll see people go back to buying homes, it’s all natural. According to Local Market Monitor, the top five most rewarding cities for being a landlord are led by Houston, based on home prices, area economy and rents, and ranked by job growth. Continue reading . . .
“Room To Roam: Top 10 U.S. States With Largest Lot Sizes”
If you’re looking for a house with a supersized backyard, you’re best bet is to search in the Eastern U.S. Vermont topped the list with a median lot size of 75,794 square feet. Two other Northeast states were in the top five: New Hampshire, at No. 4 with a median lot size of 48,787 square feet; and Maine, ranked fifth with a median lot size of 44,431 square feet. Continue reading . . .
“Women Don’t Shop Enough For Home Loans”
There’s a surprising new finding that says women get lousier mortgage rates than men, but not because of gender discrimination. It’s because, instead of shopping around for cheaper loans, they rely on the recommendations of friends. Continue reading . . .