As of April 2019, mortgage rates seem to have stabilized, just in time for the spring homebuying season. The 30-year fixed mortgage rate decreased (slightly) to 4.28 percent, according to Bankrate’s weekly survey of large lenders. That’s down from 4.29 percent. Let your homebuyers and refinancers know that these rates are arriving at a 15-month low.  A year ago at the same time, the mortgage rate was 4.49 percent. Most prevalent: zero-down loans and new underwater refinance options that have been unveiled by Fannie Mae and Freddie Mac, according to …

First, the common perception is that Millennials are not interested in buying homes and only interested in living in an urban environment. No suburbs. Renting only. Then came the surprising twist that this generation, reaching age 35, is starting families and revving their careers — and not only are they interested in home ownership, but it’s more than okay if the homes are located in the suburbs.  Rising pay and low mortgage rates also helped support this American Dream. Now, though, comes a disappointing turn: it’s not the Millennials who …

Is it time for us to start wringing our hands over the changing state of the U.S. housing market this year? Redfin predicts that the housing market will continue to cool throughout the first half of 2019, and that house flippers and investors will back away from the cooling market. Investors Business Daily acknowledges a 2018 cooling, and predicts that 2019 will be a tough year for both buyers and sellers. However, continued economic growth and rising employment should help ease at least some pain. One of the main concerns: …

The Counselors of Real Estate (CRE), an advisory organization that monitors the industry, recently released a report listing issues that are affecting real estate both now and in the near future. In the spring, the organization’s Chair, Joseph Nahas, spoke to the National Association of Real Estate Editors (NAREE) about these issues. He explained that the problems we may have in the future are beginning to happen today. Here is the rundown, according to a report issued by Housing Wire: Infrastructure The American Society of Civil Engineers gave the United …

Going forward, there definitely is good news. Due to rising home prices and an increase in homeowners, home equity is predicted to grow by $1.4 trillion in 2018, which brings net housing equity to over $15 trillion. Compare that to a decade ago — during the housing crisis — when housing equity was at just $6 trillion. However, the best that anyone can do when predicting business trends is take educated guesses. Here’s just a worthy few of them: New Housing Construction The U.S. real estate market belonged to the …

For an industry that was once notorious for being slow to change, technology is seeping into every nook and cranny of real estate. Artificial intelligence, bitcoin cryptocurrency, and Millennials as homebuyers have given the business a culture shock. Real estate professionals are scrambling — at different degrees — to adjust to the changes. Over 70 percent of homebuyers now start their home shopping online, and more than half of house tours are booked through a website. Although artificial intelligence (AI) can sound intimidating to some, it’s actually making agents’ jobs …

A recent Coldwell Banker survey found that 72 percent of Millennials (those born between 1981 and 1997) would be willing to pay $1,500 more for a home that was “smart.” In fact, 42 percent of those surveyed would be willing to pay as much as $3,000 more. Smart devices include network-connected security and monitoring devices, sensors, system controllers, lighting, power, and appliances. Forbes reports that 36 percent of home sales are now made to Millennials, who are now starting families. This is in contrast to the popular perception that Millennials …

The trend of coworking in office spaces began as a high concept in 2005, and since then has spread like wildfire. The Millennial generation workforce has adopted it as an accepted way of life — and corporate America is responding in a big way in a rush to recruit young talent. It seems the days of the corporate center, cubicle and corner office are vanishing forever. The coworking concept consists of membership-driven office services, consisting of independent workers (often entrepreneurs, independent contractors, freelancers) and businesses. All of these members pay …

Despite all the political and social upheaval of the last few years, some things in our culture remain consistent. One of the more unwavering rules of thumb: real estate is one of the best ways to invest money and become financially secure. According to a recent survey by bankrate.com, real estate remains the most preferred way to invest the money that won’t be needed for at least a decade. In fact, this is the third year in a row that real estate topped the list. The second preference: no-risk cash …

Forget the split level and the McMansion — townhouse construction starts continue to post gains in 2018, according to an analysis by the National Association of Home Builders (NAHB) and the most recent Census data. Over the last four quarters (ending with the first quarter of 2018), townhouse starts totaled 105,000. That’s seven percent higher than the prior four quarters. Another name for townhomes: single-family attached housing. This housing style comprised 21,000 starts during the first quarter of 2018, which was actually a slight decline from the starts of a …