The ultrarich’s biggest spending category tends to be on real estate, according to realtor.com®. So where are the richest people in America settling down and buying a home?“In terms of neighborhoods, [the ultrarich] are either going for aspirational places or looking for the next hottest place,” Dolly Lenz, founder of Dolly Lenz Real Estate in New York, told realtor.com®.Realtor.com®’s data team sought to find the priciest ZIP codes an
City design can have a big influence on how residents feel about where they live. The Center for Active Design—a nonprofit that promotes design solutions to improve public health—and the Knight Foundation teamed to release a new set of recommendations for urban planners to enhance city design, called the Assembly Civic Design Guidelines.The CfAD believes that cities can do more to make residents want to use public spaces more, which could lea
Counter to the national trend, several housing markets saw foreclosure starts rise year over year last month, according to a new report from ATTOM Data Solutions, a real estate data firm.Forty-three percent of local markets saw an annual increase in May in foreclosure starts. Foreclosure starts were most on the rise in Houston, which saw a 153 percent jump from a year ago. Hurricane Harvey struck the Houston metro area in August 2017, tying with
More than 90 percent of builders say that rising lumber prices are hampering the affordability of new homes, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Recently surveyed builders say that the higher construction costs are causing more prospective buyers to back out of purchasing a new home as well.Builders are blaming the rising construction costs on the increase in lumber prices over the past year an
Outdoor projects can help boost a home’s value by up to 10 percent, according to a new realtor.com® report. Outdoor showers, barbecue stations, entertainment pools, and firepits are the top projects that realtor.com® researchers found with the biggest potential increases to a home’s price.For its research, realtor.com® analyzed listings at its site for summer-related outdoor features in single-family homes listed for $150,000 or more.An ou
Tom Ferry explains why making more money starts with maximizing your timeMy coach recently asked me a great question.“Tom, are you managing your time powerfully?” she asked.This question really got me thinking. You can’t get more than 24 hours every day. But you can get more from those 24 hours.I left the coaching session with a refocused mindset centered on maximizing every second of every day. Now I want to share four key time-management
What makes a state great for homeowners? According to SmartAsset, a personal finance site, home price growth as well as affordability, and low foreclosures, property taxes, closing costs, and low burglary rates are among the characteristics that make homeownership an attractive investment.To find all of that, you may want to look in the Midwest, according to the analysis. But Western regions also hold quite a few spots on SmartAsset’s “Best S
Home prices are increasing at a faster rate than wages in 64 percent of U.S. markets, according to a new analysis released this week by real estate data firm ATTOM Data Solutions.Median home prices nationwide have risen 75 percent since the first quarter of 2012, while average weekly wages have risen just 13 percent over the same time period, according to the analysis. The counties where median home prices require the highest share of average wag
Borrowers found lower mortgage rates again this week, marking the third decrease in rates in the past four weeks.“After a sharp run-up in the early part of 2018, rates have stabilized over the last three months, with only a modest uptick since March,” says Sam Khater, Freddie Mac’s chief economist. “However, existing-home sales have hit a wall, declining in six of the last nine months on a year-over-year basis.”The National Association
The Trump administration has proposed ending the government’s long conservatorship of mortgage financing giants Fannie Mae and Freddie Mac, which was among a sweeping proposal for reorganizing the government unveiled Thursday. Under the proposal, which still requires congressional approval, Fannie Mae and Freddie Mac would be converted to “fully private entities.”Fannie Mae and Freddie Mac have been under U.S. conservatorship since 2008.
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