Nearly half of all opportunity zone redevelopment areas have seen prices rise at least 20% annually, according to a new report from ATTOM Data Solutions. Home values in opportunity zones are moving up and parallel the broader U.S. housing market.Opportunity zones, established by Congress in the Tax Cuts and Jobs Act of 2017, were created to help revitalize low-income areas, offering investors significant tax breaks over several years to those who
The pandemic has prompted up to 3 million Americans to retire earlier than planned. But not as many are moving right after retirement, as retirees have often done in the past.The number of retirees who moved in 2021 fell by 43% compared to the previous year, according to a new analysis from Hire A Helper, a home services firm. The reasons some are choosing to stay in place long after retirement are the rise in home prices, lack of retirement savi
Rising mortgage rates don't seem to be scaring off home buyers. Mortgage applications to purchase a home, viewed as a gauge of homebuying demand, increased 2% last week, the Mortgage Bankers Association reported Wednesday.Homebuilders are reporting stronger buyer traffic too after a brief lull earlier this fall, according to a recent builder sentiment report released by the National Association of Home Builders.“Purchase applications incre
A record number of home builders are reporting a shortage of workers such as carpenters, painters, and electricians, the National Association of Home Builders reports. The shortages come at a time when demand is increasing for new homes. Builders are struggling to meet demand and faced with both surging prices for materials and shortages of lots.The share of builders reporting a shortage of labor reached a record high of 76% in Oct
A greater number of homeowners are interested in entering the housing market over the next six months, and they have some big expectations. Topping the list are bidding wars and a fast-paced sale, and they also look to buyers to forgo contingencies like home inspections and appraisals, according to a new realtor.com® survey of 2,583 consumers conducted this fall.More than one-third of prospective sellers are ready to take advantage of the c
While more homeowners have been interested in gaining space during the pandemic, the market for tiny homes is still appealing to certain segments, particularly investors and first-time home buyers.The affordability of these homes is one of the biggest draws. Many tiny homes cost between $30,000 to $60,000. For comparison, the median price for a starter home is $233,400, according to the National Association of REALTORS®.IPX1031, a 1031 exchange
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Home buyers and homeowners got another chance this week to lock in historically low rates. The 30-year fixed-rate mortgage averaged 2.98%, Freddie Mac reports.“Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” says Sam Khater, Freddie Mac’s chief economist. “These low mortgage rates, combined with the tailwind of first-time home buyers entering the market
About Michael I focus on delivering a seamless world-class selling and buying experience. This allows clients to feel understood, supported, and valued.iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Cl
Homeowners are striking gold in real estate. The percentage of financed homes that were equity rich in the third quarter grew to nearly 40%, up from 28.3% a year ago, ATTOM Data Solutions reports. A home is considered equity rich when the combined estimated amount of loan balances on the property is no more than 50% of the estimated market value.“Homeowners across most of the United States could sit back with a smile yet again in the third quar
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