Inventory of available homes on the market is the lowest it’s been in two decades, but the reasons may surprise you. Two of the likely culprits are baby boomers and homeowners who are simply satisfied with their home, according to realtor.com®’s Housing Shortage Study.Baby boomers are showing a desire to age in place in their current homes, and their refusal to sell is creating a clog in the market, according to the study. Eighty-five perce
The 30-year fixed-rate mortgage reversed course this week, averaging 3.90 percent.“After holding relatively flat last week, the 10-year Treasury yield fell 4 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved in tandem with Treasury yields.”Freddie Mac reports the following national averages for the week ending Aug. 10: 30-year fixed-rate mortgages: averaged 3.90 percent, with a
A couple lost $1.5 million in the purchase of their dream home in Washington, D.C., because of a real estate scam that is nabbing more victims across the country.As the couple—who put down $200,000 on the home—waited for closing, they received an email that appeared to be from their title company with directions to wire the remaining funds for the purchase. The couple replied to the email to double-check the instructions. When they received a
The couple that kidnapped and killed Arkansas real estate agent Beverly Carter in 2014 used an app to give a false impression of where they were calling from. According to Carter’s son, Carl Carter Jr., the couple made it seem like they were calling from out of town and were looking for a home because they were relocating. “In fact, they were just calling from right down the road,” says Carter Jr., who shared several details about his mothe
Scott Stratten of UnMarketing on how to stand out from the crowdKey Takeaways "If you are your unique self, if you are your authentic self, you have no competition."SAN FRANCISCO — What does it mean to provide service so exemplary that the word “service” itself becomes synonymous with your brand?Scott Stratten of UnMarketing shared a story on stage at Inman Connect San Francisco about the Ritz-Carlton hotel chain and how real estate agents
One of the nation’s largest cannabis companies bought an entire town in the deserts of California. American Green Inc. announced that it is purchasing all 80 acres of Nipton, Calif., and plans to turn the town into a commercial oasis centered around marijuana.The town currently includes an Old West–style hotel, a few homes, an RV park, and a coffee shop. Fewer than two dozen residents live there.American Green Inc. plans to make the town “g
The link between good health and greater productivity may not seem to be too big a stretch, but science has long struggled to establish the connection with hard data. Now, researchers at UCLA, University of California Riverside, and Washington University have done so with a small sample of workers at commercial laundry plants in the Midwest. Researchers found that employees who saw their health improve due to participation in an work-sponsored
Higher home prices are a likely culprit for part of the 1.5 percentage point dip in Fannie Mae's Home Purchase Sentiment Index in July. Buyers may be losing confidence in their ability to purchase a home as the national median home price surged to $263,800 in June, a record high.But the decline in selling sentiment was actually the biggest drag on the index in July. The net share of 1,000 consumers surveyed who say now is a good time to sell a h
More people are looking to experience farm life without buying an entire farm. That has prompted an emerging type of community that is catching on from coast to coast centered around food production, dubbed “agrihoods.”Suburban agrihoods began appearing in the U.S. in the 1990s. At first, developers offered them as an alternative to golf-centered communities.“What we learned over time was the majority of buyers in golf course developments
The national median home price surged to $263,800 in June, a record high, according to the National Association of REALTORS®. That has prompted some buyers to hit the pause button.Buyers were still requesting tours at the same rate in June; however, 11 percent fewer buyers were submitting an offer, according to a recent survey by the real estate brokerage Redfin, which surveyed 15 major metro housing markets.Typically, the housing market starts
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