Home values can drastically differ in some areas of a metro and foster an environment of housing value inequality between rich and poor.LendingTree, an online loan marketplace, recently analyzed 50 of the largest metro areas to rank cities based on its home value Gini coefficient. The Gini coefficient ranges from 0 (complete equality where every value is the same) to 1 (complete inequality where one entity has 100 percent of the value and the ot
The cost to maintain a home is something financial experts recommend budgeting for early on, in preparation for choosing which house to buy. On average, homeowners spend 1 percent of their overall home cost in maintenance every year, according to a new study by Porch.com.The upkeep costs can vary based on style, age, type, and even location of the home. The average cost to maintaining a home each year is about $16,000, according to Porch.com’
Low inventories of rental homes as well as strong job growth are fueling increases in single-family rent prices, CoreLogic reported Tuesday.U.S. single-family rental prices rose 2.9 percent year-over-year in April. CoreLogic analyzed single-family rental price changes nationally and among 20 metro areas.Nevertheless, the year-over-year rent price has been slowing since February 2016, after peaking at 4.2 percent. It has mostly stabilized over the
A REALTOR® is always a good person to have on your team, and Cubs all-star Kyle Schwarber must have known that when he chose Michael Sinicola—a real estate professional with The K Company Realty in Tampa—as his pitcher for Monday night’s Major League Baseball Home Run Derby. Schwarber had the most total home runs this year at 55 (the second most in Derby history) and set a new semifinal record of 21 runs, but he was just shy of the grand
Public speaking can be a huge challenge for some, but numerous TED Talk presenters have mastered the art of captivating an audience through public speaking. How? They go beyond facts and figures to tell a story. You don’t have to be a TED Talk-level speaker to incorporate these engaging techniques. By taking a storytelling approach next time you’re speaking in front of your office, a new client, or at a real estate conference, you’ll k
Bathroom makeovers can help enhance a property, but homeowners should be careful not to be too trendy or it may have the opposite effect. HouseLogic detailed several recent bathroom trends that homeowners might want to reconsider, including:Tiny tilesMosaics of tiny colored tiles may be on-trend and offer a retro vibe to your bathroom, but they’ve also earned a reputation as being a pain to keep clean. Tiny tiles mean more grout to clean and m
A new home will often come with a warranty from the builder, but that doesn’t mean the builder is on the hook for anything that breaks. Warranties differ from builder to builder, but they typically cover only specific features such as: Concrete foundations and floors Clapboard and shingles Carpeting Thermal and moisture cover Waterproofing Insulation Roofing and siding Doors and windows Garage doors Plumbing Electrical Heating and cooling Septi
Higher mortgage rates and rising home prices are making housing more expensive for homeowners this year compared to last year. In San Jose, Calif., for example, the average homeowner is paying $500 more for monthly mortgage payments than a year ago, jumping from $4,100 to $4,600, according to a new analysis by Bloomberg.In nearly one-third of metro areas, buyers paid an average $50 hike in monthly mortgage payments in the first quarter of the yea
When it comes to renovations, homeowners express some of their highest satisfaction with outdoor projects such as a new wood deck, water feature, statement landscape, or a new patio. These home improvement projects had “Joy Scores” of 9.7 or more out of 10, according to the 2018 Remodeling Impact Report released jointly by the National Association of REALTORS® and National Association of Landscape Professionals. Personal finance site Magnify
Reverse commutes—where residents travel from the city to the suburbs for work—are becoming more common across the country. An average of 46 percent of employees living in major cities have reverse commutes, according to a new report called “Ambitious Thinking: Smart Cities,” released by commercial real estate firm JLL.More than 4.8 million people in the 25 largest metro areas in the U.S. have reverse commutes, up 11.6 percent since 2011.
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