Condos located near cart paths in golf course communities sell for lower prices than similar properties in the same communities, according to a new study published in The Appraisal Journal. Such condos are discounted an average 5.1 percent, according to the study. Certain cart paths can have a greater impact on the price of the property: condos near paths by a green are discounted 11.6 percent while those near tee boxes are discounted 8.6 percen
Hispanics are trailing behind whites in homeownership, and they likely won’t catch up until 2035, according to a new report from Freddie Mac. The Hispanic homeownership rate is 26 percentage points less than the homeownership rate for whites as of 2015. The gap has narrowed slowly over the last 20 years, dropping from 29 percentage points in 1995.Freddie Mac researchers note that Hispanics and whites are influenced by similar factors when it co
CoStar, a leading company providing data on commercial real estate, is facing accusations in an antitrust lawsuit that it has formed a monopoly in the commercial space. Xceligent, one of CoStar’s competitors, filed the suit on Wednesday, saying it wants to prevent CoStar from “blocking the commercial real estate industry’s ability to freely share” information with competitors. Industry insiders say the lawsuit has the potential to determi
Home prices are escalating as the real estate industry rolls through its busiest season for buying and selling, according to realtor.com®. The median list price for all housing types pushed above $250,000 for the first time ever in May, according to the National Association of REALTORS®, and realtor.com® predicts it will reach $275,000 by the end of June.“The housing market has now gone 24 months in a row seeing inventory drop on a yearly ba
Walt Disney’s Disneyland presentation map has sold for $708,000 at an auction in Los Angeles.Although it fell short of the $900,000 it was expected to fetch, it’s still believed to be the most expensive Disneyland map ever sold but it’s not been revealed who the buyer is. The highly anticipated Walt Disney’s Disneyland auction was held by Van Eaton Galleries on June 25, 2017.“As we had expected, this extraordinary Disneyland map sold fo
Agents can cater to the trend by using new tech and serving up as much imagery and data as possibleKey Takeaways The proliferation of property information, imagery, neighborhood data and new technology is likely giving buyers more confidence to bid on homes without visiting them in person.With properties selling like hotcakes, one out of three recent homebuyers made an offer on a home without seeing it in person, according to a new survey from hi
Low inventory levels have sidetracked the spring buying season and dampened financial and economic confidenceKey Takeaways May's pending home sales dipped 1.7 percent to 108.5 thanks to inventory shortages and rising home prices.The National Association of Realtors (NAR) Pending Home Sales Index (PHSI) is down for the third consecutive month due to continued inventory shortages and surging home prices.May’s PHSI, which is based on contract sign
Provider of virtual real estate tours is putting the power of structured data into the hands of agentsThe same search engine optimization tool used by Zillow, realtor.com and other aggregators is now being used by a major producer of virtual tours to allow agents to once again deliver homes for sale directly to would-be buyers.The tool is called “structured data,” and it allows the likes of Zillow, ListHub and others to rise to the top of sea
Some urban areas are great for both buying and rentingWhen searching for a home, deciding whether to rent or buy can be a daunting task. The choice is one of the biggest decisions that many adults make in their lives.Many younger people have been renters for most of their adult lives, which makes the leap into homeownership a difficult one. The costs of buying can vary more than renting, but there are many hidden costs that can be overlooked, mak
Things you might need for listings, open houses, marketing -- or for yourselfKey Takeaways A real estate agent's day can be full of unexpected (and sometimes messy) surprises. Be prepared to tackle any situation with the right tools.Between the listing appointments, buyer showings, open house events, home inspections and office meetings, real estate agents tend to spend a lot of hours in their vehicles.And when you’re accustomed to all that win
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