Easy Ways to Give the Backyard Instant Cachet Homeowners have focused heavily on making the backyard more functional since the pandemic, but it’s important not to forget about style and aesthetics. Interior stylists Shelby Greene and Kate Leyendecker of furniture retailer Living Spaces offer inexpensive touches that can give the backyard a luxury look. …
Category: Real Estate Tips
Jun 11
Apartments Get Larger, After Years of Shrinking
Apartments Get Larger, After Years of Shrinking Apartments have shrunk in size over the past decade. But that is changing. Renters during the pandemic craved more space, and the multifamily sector is responding by expanding the square footage by making units about “one small home office larger,” according to a new study. Thirty-six percent of …
Jun 11
Awaiting Lumber Price Relief, Some Builders Delay Projects
Awaiting Lumber Price Relief, Some Builders Delay Projects Lumber prices may soon start to recede from their recent record highs, and some home builders say they may stop taking new orders or delay projects with that expectation in mind. Prices for lumber have surged more than 200% over the past 12 months. That has added …
Jun 11
Buyers May Benefit From an Auction Mindset
Buyers May Benefit From an Auction Mindset Buyers who head into the housing market believing they should get a home for less than the listing price may be very disappointed. Instead, they may consider that asking prices have become more like the start of an auction and be ready to start bidding. For every listing, …
Jun 10
Newer Homes Are Coming to Market the Fastest
Newer Homes Are Coming to Market the Fastest Builders are building more, even though overall housing inventories still feel tight. Builders in April constructed about 24% more homes than they did in April over the last couple of decades, the National Association of REALTORS® reports. Housing starts are likely to reach 1.6 million for all …
Jun 10
Inquiries on a House
Inquiries on a House Small-town homeowners say they’re fielding a growing number of inquiries about selling their homes, even though they aren’t for sale. Real estate speculators are approaching them asking if they’d be willing to sell. Chuck Vukotich told The Wall Street Journal that multiple times a week, he receives queries about his small …
Jun 09
Falling Office Rents Prompt Leasing in Smaller Markets
Falling Office Rents Prompt Leasing in Smaller Markets Office sectors in smaller markets are showing greater resiliency, and companies are taking notice. The only increases in office occupancies in the first quarter were in secondary cities, and even those were modest. These secondary markets are known for having cheaper office rents compared to major markets, …
Jun 09
First-quarter Refinancings Were Unusually High
First-quarter Refinancings Were Unusually High Mortgage refinance loans have more than doubled over the past year as homeowners rush to lock in historically low mortgage rates. Lenders refinanced about 2.55 million mortgages in the first quarter of this year, a 113% jump from the same time period in 2020, according to real estate research firm …
Jun 08
Pandemic Buyers Lowered Their Housing Costs
Pandemic Buyers Lowered Their Housing Costs About two-thirds of consumers who bought a larger home in a different city over the last year have the same or lower housing costs than before their move, according to a new Redfin survey. Seventy-eight percent of respondents say they have the same amount of disposable income or …
Jun 08
Paint Shortage Adds to Construction, Remodeling Woes
Paint Shortage Adds to Construction, Remodeling Woes Fewer paint products are hitting store shelves, resulting in shortages that could hamper summer home improvement projects. “Some of the most commonly used paints are out of stock,” Mike Marcewicz, founder of Mike’s Painting and Home Improvements, told Bay News 9 in St. Petersburg, Fla. COVID-19 restrictions …
Jun 07
Surging Home Prices Are Set for a Cooldown
Surging Home Prices Are Set for a Cooldown The U.S. median home price continued to post double-digit appreciation in May and reached a record high of $380,000, realtor.com® reports. But the rate of price growth has shown signs of slowing for the second time in 13 months (15.2% year-over-year in May compared to 17.2% annually …
Jun 07
Drone Use May Be on the Rise
Drone Use May Be on the Rise Real estate pros have increasingly been using drones to capture aerial photos and videos of their listings or even the interiors. New Federal Aviation Administration rules may even allow for greater use too. The FAA has recently eased some restrictions and expanded some drone rules by authorizing operations …
