The gap continues to narrow between homeowners’ and appraisers’ perceptions over home values. The latest Quicken Loans Home Price Perception Index shows that the average home appraisal in June was only 0.25 percent lower than what owners had estimated—this puts the two different value perceptions at their closest since February 2015.Homeowners provide their home value estimate at the beginning of the refinance process; that is then matched
With ride-sharing companies such as Lyft and Uber entrenched in cities and changing how their residents move about, a move into bicycle sharing may bring their users even more flexibility.Lyft paid a reported $250 million earlier this month for Motivate, which operates bike-sharing programs across the country under a variety of names, such as Citi Bike in New York and Divvy in Chicago.With some 35 percent of vehicle trips involving travel of two
Despite housing prices on the rise in many places, real estate is still considered a bargain in a handful of cities, according to a new analysis released by SmartAsset, a personal finance website. SmartAsset analyzed data of 200 cities by using a model that projects home value per square foot based on how desirable a city is to live in, considered its livability score. Researchers factored in livability metrics like crime, unemployment, weather,
As mortgage rates rise, borrowers may be more likely to consider an adjustable rate mortgage, but ARMs’ sour reputation from the housing crisis may prevent them from taking one. ARMs tend to offer lower introductory rates for a set period of time, such as five or seven years, before resetting higher. Even a decade after the financial crisis, ARMs, which took a lot of blame for rising defaults back then, are still relatively low. The s
The number of homes for sale is growing in some markets and that may be the main factor behind the latest rise in mortgage applications, economists say. Mortgage applications for both home purchases and refinancings increased 2.5 percent last week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. The rise was fueled entirely by an uptick in home purchase applications. Mortgage applications for home purchase
Investors are bullish that more Americans will choose to be renters, and they’re buying up even more single-family homes to make sure they are ahead of the trend. The number of homes purchased by major investors in 2017 was about 29,000, up 60 percent from the previous year, according to Amherst Capital Management LLC, a real estate investment firm. That is also the first time since 2013 that investors purchased more homes on an annual basis.In
Several vintage and retro elements from the 1960s or even 1930s are oozing back into kitchen design. Realtor.com®’s Jamie Wiebe recently highlighted a few of these comeback trends, including:Decorative flooring: Vintage black-and-white and patterned tiling are making big statements in kitchens once again. Hardwood flooring may be the norm in new-home builds, but more renovators are opting for decorative flooring styles that were once common i
Graffiti can be a difficult issue for property owners. Graffiti is often vandalism that could be associated with gang-related origins. However, some graffiti is viewed as legitimate art created by street artists with local or even national reputations. If you or your clients own a property with graffiti images, you must first determine whether it was done with or without permission.Graffiti vandalism is a criminal act done without an owner’s pe
Home prices are rising and making homeowners richer. But the number of home equity lines of credit are barely budging.The overall equity that was tapped in the first quarter of this year was 1.17 percent, the lowest amount in four years, according to Black Knight, a mortgage software and analytics firm.Many homeowners may not realize how rich in equity they really are. “I think the typical American doesn’t have that level of awareness; theyâ€
The typical American dream home would cost $1.3 million, feature 7.5 rooms, and have an average square footage of 2,195 feet, according to a new survey of 2,000 homeowners by Northshore Fireplace. Sixty-four percent of Americans believe they’ll be able to obtain their dream home within their lifetime.The most popular words used to describe a dream home from respondents were comfortable, cozy, and spacious.The most important feature inside a dre
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