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
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
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
Mortgage rates dropped slightly this week, but overall, they were mostly flat, offering some temporary relief to borrowers.Mixed economic data this week prompted mortgage rates to remain in mostly a holding pattern, says Sam Khater, Freddie Mac’s chief economist. “Manufacturing output and consumer spending showed improvements, but construction activity was a disappointment,” Khater says. “This meant there was no driving force to move mort
A federal appeals court in Texas has ruled that the leadership structure of the Federal Housing Finance Agency—the caretakers of Fannie Mae and Freddie Mac—is unconstitutional. The U.S. Court of Appeals for the Fifth Circuit in Texas agreed with shareholders that the FHFA was “unconstitutionally insulated from executive control” with its single-director structure. The director cannot be removed by the president except for cause. If the co
Newcomers to the real estate business are joining the REALTOR® family in droves. The number of REALTORS® rose from 1.22 million in March 2017 to 1.3 million in April 2018, according to the 2018 National Association of REALTORS® Member Profile, released Thursday. There are more rookies hopping on the bandwagon too: 29 percent of members now have less than two years of experience. (Members of NAR account for about half of all active real estate
In June, housing starts fell by 12 percent—a sign that prospective buyers are becoming more hesitant toward rising housing costs and shrinking inventory. SmartAsset, a finance company, has been tracking this trend and offers advice for buyers as it continues to evolve.Offer these tips for your buyer clients trying to break into what can be a challenging housing market: The market doesn’t dictate how much you can afford. The market may change
A smartphone that boasts a bendable screen is expected to hit the market early next year. Samsung Electronics Co., the world’s largest phone maker, reportedly plans to introduce its long-awaited foldable-screen smartphone in 2019, The Wall Street Journal reports. The screen can be folded in half, like a wallet.The prototype—known internally by its nickname, “Winner”—features a screen of about 7 inches, or about the size of a smaller t
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