Fear of missing out—or FOMO, as millennials have coined it—has become a powerful motivator for young buyers to pursue homeownership, according to a new Bank of America survey. In particular, social media platforms such as Facebook and Instagram, where users often post about their lives as homeowners, are big influencers on prospective buyers, the survey of 2,000 U.S. adults finds. “I think it’s motivating them to think about homeownershi
The three major credit reporting agencies are implementing policy changes for credit scoring that could lift the scores of some consumers. Equifax, Experian, and TransUnion will now exclude exclude all tax lien data from credit reports, which could raise some credit scores as much as 30 points, CNBC reports.The agencies began this process last summer, removing nearly 100 percent of data on civil judgments and 50 percent of data on tax liens from
A man in Whitehouse, Texas, was arrested last week on charges of stalking a female real estate professional. The agent filed a police report, claiming that Danny Shane Lafaitt, 44, had been repeatedly making inappropriate contact with her. Lafaitt was charged with third-degree stalking and is being held on a $300,000 bond.According to the police report, Lafaitt first came to the agent’s office to inquire about listings, but the agent said she
Builders are making efforts to ramp up construction, but a large portion of home starts are in luxury markets, leaving inventory shortages in lower price brackets that are helping to sideline many first-time buyers. In the first two months of 2018, first-timers made up 29 percent of all home buyers, down from 32 percent a year ago, according to the latest REALTORS® Confidence Index Survey. Nearly 44 percent of properties were listed at $250,000
REALTORS® are remembering the 50th anniversary of the signing of the Fair Housing Act by further advocating for inclusion and diversity in the nation’s communities.The National Association of REALTORS® designates April as Fair Housing Month and is promoting this year's landmark anniversary through a series of education offerings and events for its 1.3 million members and state and local associations.“As REALTORS® join our industry partne
In the absence of legislative reform by Congress, there’s only so much the Federal Emergency Management Agency can do to encourage the growth of private flood insurance. But FEMA, which oversees federal flood insurance, has come up with a few small but meaningful program changes that will make it easier for households to switch to private insurance if they can get a better deal that way.First, the agency has lifted the requirement that househol
Wallpaper tends to be highly flammable and can be a major contributor to house fires. But researchers at Shanghai’s Institute of Ceramics are developing wallpaper that can detect fire and even act as a flame retardant.The wallpaper is made from fire-resistant materials like graphene oxide and hydroxyapatite nanowires. Graphene is electrically insulated and can be used like a sensor switch. When heat rises above a certain temperature, it will cl
With a record low number of listings this spring, more buyers may be finding themselves in a bidding war for the home they want. CNBC recently highlighted a few tips on how buyers can be successful in a bidding war, including:Set the maximum price from the start. Home shoppers should factor in the monthly mortgage payment, property taxes, homeowners insurance, and any homeowner association or condo fees. They’ll want to arrive at a general est
Homeowners care about the entertainment value a backyard offers, and they’re devoting money to sprucing these spaces up, according to the latest Houzz Landscaping Survey, based on responses by more than 750 homeowners who are either in the middle of a landscaping project or planning one.Homeowners are investing in several landscaping projects to make their outdoor areas more livable, such as adding more seating with lounge furniture, dining fur
Real estate professional Laura Lucky was showing a home to a couple in Scottsdale, Ariz., when they drove up on a sight taken straight from the Wild West: a hungry bobcat versus an undeterred rattlesnake along the road.Lucky began recording the snake as it took a bite out of the bobcat. The two fought for several minutes. She posted her video on social media. As of Thursday, the video had nearly 1 million views.“The rattlesnake had come up and
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