Ongoing inventory shortages helped to push the median sale price for existing homes to another all-time high in June, the National Association of REALTORS® reports. The median price for all housing types was $276,900, surpassing a previous record set in May. Home prices have surged 5.2 percent since a year ago.The mix of low inventory and high home prices may have had an influence on existing-home sales in June, which fell for the third consecut
Sellers are cashing in on yet another record high for sale prices, with the median annual return on home sales reaching 8 percent nationally over the last 12 months, according to realtor.com®. But some cities are seeing annual returns stretch as high as 14 percent, researchers found in an analysis of the 100 largest U.S. metros. “Owning can be a great way to build up overall net worth,” says realtor.com® Chief Economist Danielle Hale. “I
A home buyer in White Plains, N.Y., has filed a class-action lawsuit against real estate brokerage Houlihan Lawrence, accusing the firm of using dual agency as a tactic to maximize its profits and dominate the local market. Dual agency is when both the buyer and seller of a transaction are represented by the same brokerage. Pamela Goldstein, the buyer who filed the suit, is seeking a class-action status to represent consumers who may have faced a
Nearly three in 10 mortgage borrowers either don’t know the rate they’re paying on their loan or decline to disclose it, according to a new survey by Bankrate. Consumers who don’t keep track of their mortgage rate may be making an expensive mistake, financial experts caution. “Most homeowners should know what their rate is,” says Martin Choy, operations manager at Westwood Mortgage in Seattle. “If they have an adjustable-rate mortgage
Artificial grass, which comes in multiple textures, finishes, and colors, can give homeowners a low-maintenance alternative to natural lawns. But it has pros and cons.Artificial grass doesn’t need watering and remains green all year, which is a big selling point for homeowners. It works well in most climates, particularly dry climates, but it’s not totally maintenance-free. For example, you’ll need to rinse an artificial lawn to clear it o
Tom Ferry shares 5 daily activities to kill it out there!I get asked a lot of questions like… “What’s the one thing I should do to be successful?” “What’s the one lead gen strategy you’d recommend to generate business?” “What’s the one message that will get homeowners to choose me?”Here’s the truth: it’s never just one thing. Success is about doing multiple things that give you the power.I
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Many homeowners have limits on their home insurance policies that are too low to cover the full cost of repairing or rebuilding in case of a natural disaster—and the problem is particularly alarming in areas at risk of hurricanes and flooding, The Wall Street Journal reports.Catastrophic damage left in the wake of Hurricanes Harvey, Irma, and Maria last year revealed a widespread lack of full insurance coverage for many homeowners in Texas, F
Congress has until July 31 to extend the National Flood Insurance Program, which provides policies in 22,000 communities nationwide, and this week brought a last-minute flurry of activity as the deadline approaches.Reps. Tom MacArthur (R-N.J.) and Steve Scalise (R-La.) introduced a bill to extend the NFIP through Nov. 30. Reps. Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) also introduced a four-month extension bill, which included eight bipar
Storm readiness is an essential part of homeownership. Summer storms and floods can damage property and endanger lives. Here are a few tips from the Outdoor Power Equipment Institute (OPEI), an international trade association representing small engine, utility vehicle (UTV), and outdoor power equipment manufacturers and suppliers, to help them be as prepared as possible before a damaging storm, flood, or hurricane. The necessary equipment. Owne
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