A typical American household spends $2,060 a year on electricity, according to the U.S. Department of Energy. Unfortunately, if a home isn’t efficient, a lot of that energy goes to waste—possibly as much as three-quarters of it, according to Renewable Nation, a Washington, D.C.-based non-profit focusing on affordable and clean energy. If your clients are contemplating money and energy-saving updates to a house they’re planning to buy or se
Congress has approved a one-week extension of the National Flood Insurance Program, which was set to expire Friday, preventing a lapse in federally provided insurance critical to homeowners who live in or near flood zones. The House on Thursday night approved the extension in a 350-46 vote. The Senate also passed a seven-day extension by unanimous consent. The legislation is expected to be signed Friday by President Donald Trump, who has signed
New museums and art districts not only prompt new cultural and commercial development in an area—they also have the potential to make nearby real estate values surge. Indeed, property values of homes near new museums can surge between 20 percent to 50 percent over a period of five years, according to a new study from Stephen Sheppard, an economics professor at Williams College in Massachusetts.Sheppard refers to this as the “Bilbao effect,
Mortgage rates mostly held steady this week—and homebuyers responded by rushing to lock in rates. The 30-year fixed-rate mortgage averaged 4.81 percent, Freddie Mac reports.“Mortgage rates stabilized the last couple of months as interest rate-sensitive sectors, such as new auto and home sales, have clearly softened the outlook for the economy,” says Sam Khater, Freddie Mac’s chief economist. “Homebuyers pounced on the stability in rates
Sales of new homes plunged to a more than 2 1/2-year low in October, as all four major regions of the U.S. posted sharp declines, the Commerce Department reported Wednesday.Sales of newly built, single-family homes dropped to a seasonally adjusted annual rate of 544,000 units in October—the lowest pace since March 2016.Higher borrowing costs are pushing homeownership out of reach among more potential buyers, which has been playing out in the sa
If a cooperating broker requests that you verify in writing whether you submitted his or her client’s offer to your seller, you’d better not ignore it. You could be disciplined for not responding.The National Association of REALTORS®’ Board of Directors amended its MLS policyearlier this month to let local associations impose disciplinary action against members who fail to present either written confirmation that an offer was presented or
More millennials are pursuing homeownership now than ever before. The national homeownership rate rose to 64.4 percent in the third quarter this year—an increase of half a percentage point over a year ago, according to the U.S. Census Bureau. That's largely attributed to the rise in new, first-time home buyers.As 2018 comes to a close, Dana Bull, an agent with Sagan Harborside Sotheby’s International Realty who has significant experience wo
The colder months can make selling tougher. The home’s exterior can look dreary against a gray sky backdrop and buyers may want to go into hibernation rather than shop for homes in the chilly weather. But real estate and staging professionals say there’s still plenty you can do to make your listing stand out in the wintertime. Realtor.com® spotlighted a few of their ideas, including:Pay attention to curb appeal.Don’t let the colder month
October marked the 10th consecutive month of decreases in contract signings—not a good sign for the housing market as it starts the traditionally slower months of sales. The National Association of REALTORS®’ Pending Home Sales Index—a forward-looking indicator based on contract signings—fell 2.6 percent to a reading of 102.1 in October. On a year-over-year basis, contract signings plunged 6.7 percent.“The recent rise in mortgage rat
An increasing number of Americans are living in what’s considered wildland-urban interfaces—near forests, grasslands, and scrublands—and it’s putting more homes at risk of fires. Researchers say that wildfires pose the greatest risk to people who live along these wildland-urban interfaces, which was evident once again with the deadly Camp and Woolsey fires in California this month.About 25 million more people live in these wildland-urban
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