First-time home buyers are entering the market under tight inventory conditions and rising home prices. But not all cities are posing a challenge for those looking to break in to homeownership.A new study by LendingTree ranks the top cities for first-time home buyers in the nation’s 100 largest cities. They factored in average down payment amounts, the share of buyers using an FHA mortgage, the share of homes sold that the median income family
Real estate media outlets have been on a quest in recent weeks to imagine what might happen when a 10-year agreement between the National Association of REALTORS® and the Department of Justice comes to an end in November.The agreement centers on how MLS rules treat virtual office websites for real estate brokerages that operate without bricks-and-mortar locations. The agreement prevents NAR from setting rules that unreasonably disadvantage VOWs,
The tiny-home movement has been a popular topic among design television shows in recent years, but there was some debate about whether it was truly a lasting trend or not. But a new survey confirms that consumers are definitely intrigued by smaller homes, often described as less than 600 square feet.More than half of adults recently surveyed--or 53 percent—said “yes” or “maybe” when asked if they would ever consider the possibility of b
RE/MAX co-founder Dave Liniger has stepped down as CEO of the franchise giant. RE/MAX began its leadership succession plan last May, when the company named Adam Contos as co-CEO with Liniger.“The Board of Directors is pleased that Adam will lead RE/MAX Holdings in its next stage of growth,” says Richard Covey, the board’s lead director. “He is a talented and respected RE/MAX Holdings executive who combines in-depth knowledge of the indust
As property prices rise, more small real estate investors are reportedly are teaming up with others so they can afford their next flip or rental property. They’re pooling funds with friends, relatives, or other investors to pay for their next property, and that means sharing the risks and profit that go along with that plan.The most common partnerships are among those who want to keep and rent out their properties after fixing them up, because
Millennials are the most powerful generation to ever hit the real estate industry or any profession, asserted Lennox Scott, president of John L. Scott Real Estate in Seattle, during a recent National Association of REALTORS® Power Broker Roundtable on millennials in real estate.“They are technology-infused and connected with community—they’re a reflection of the world we’re in, and I, for one, am happy to tap into the energy and exciteme
Driverless cars may sound like an idea ripped from a sci-fi movie, but the technology is real and expected to hit roadways over the next decade in a big way. As more people warm up to the idea, driverless cars could have a big impact on where people decide to live, according to a new poll from the National Association of Home Builders.Sixty-three percent of consumers recently surveyed said that if they owned a driverless car they would “defini
Smaller homes may be generating more buzz lately, but many cities in the U.S. are still building supersized properties. McMansions sometimes get a bad rap for having an architectural style that doesn’t fit with their surrounding communities. They typically have heavily ornamented features, gigantic entrances, and high gabled roofs. McMansions were prevalent across the country in the 1980s and ’90s, but construction of these large homes ground
The Consumer Financial Protection Bureau announced that starting Monday it will accept public comments on their enforcement process. Among its many oversight areas is the Real Estate Settlement Procedures Act, known as RESPA.Mick Mulvaney, currently the acting director of the CFPB, announced the public comment period in an effort to help improve the bureau’s overall efficiency and effectiveness in its enforcement of federal consumer financi
A shut-down has been averted, and there's good news for real estate in the budget agreement, which President Trump signed this morning. The government had temporarily closed after Congress failed to pass a government funding bill before midnight Thursday, but an agreement was reached Friday morning. The two-year, $400 billion spending deal came as a result of a bipartisan group of lawmakers supporting the agreement. Congress now has until March 2
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