The market went south, but consumers' appetite for power buying didn't, according to a new report from real estate marketplace zavvie.
2023 may sink some agents — and that may not be a bad thing
Economic downturns have historically shrunk the number of practicing Realtors. But those who stick around can end up doing even more deals, economists told Inman Intel.
Builders Are Slowing Down New Construction Despite the Housing Shortage. What Gives?
The nation might be in the clutches of a dire housing shortage, but builders won’t be putting up enough new homes this year to make much of a dent.
Housing starts, which is when construction has begun but not yet completed, are expected to fall to about 744,000 single-family homes in 2023 as builders continue to pull back, according to the National Association of Home Builders forecast. That’s down about 12% from last year.
However, NAHB expects new construction will rebound in the second half of the year, giving a boost to the overall economy.
“Typically, single-family construction tends to recover before the economy rebounds,” says NAHB Chief Economist Robert Dietz. “By the time we get to the second part of the year, we should see brighter economic conditions.”
6 Kitchen Staging Mistakes That Can Sabotage the Sale of Your Home
Sellers know that staging their home is a vital step to take when preparing to put their property on the market. But not all sellers give proper due to the kitchen during this critical process. Staging your kitchen is an easy way to appeal to homebuyers without having to knock down walls or spend a lot of money on pricey renovations.
The goal is to pull off staging that enables potential buyers to envision themselves cooking, dining, and entertaining in the home. So if you’re planning to stage your place without the help of a professional stager, put your best foot forward and avoid the following rookie mistakes.
1. Leaving clutter on the countertops
Any clutter left on the counter—like a dish drying rack, mail, and personal odds and ends—will sully the appearance of your kitchen.Getty Images
Potential buyers want to see the full expanse of your kitchen counters.
Looking for the Next Top Real Estate Market? Head to the Midwest
Photo-Illustration by Realtor.com; Photos: Getty Images (2)
Homebuyers and investors looking for the next top real estate markets should head West—to the Midwest that is.
Seven of the top 10 up-and-coming housing markets in the country are smaller cities with strong economies and more affordable homes for sale in the center of the country, according to the quarterly Wall Street Journal/Realtor.com® Emerging Housing Markets Index. The index is a look at the real estate markets that economists believe will be strong in the months ahead.
“These markets are bargains for real estate relative to other areas in the country,” says Realtor.com Chief Economist Danielle Hale. “Home prices are still high, climbing on a year-over-year basis. Mortgage rates are down from their peaks but still high. Budgets are stretched because of inflation. So buyers are looking for affordability, and they’re finding it overwhelmingly in the Midwest, South, and pockets of the Northeast.”
“These are markets where workers can find jobs if they’re looking,” says Hale.
Living In ... Bridgeport, Conn.
This Fairfield County city is working to shed its ‘rundown’ image, although progress is happening slowly: “The city’s turning itself around.”
The ownership revolution, dominating Instagram and understanding the consumer
Three new expert-led classes are available right now. Tune in for the latest industry news, social media advice and consumer behavior trends.
Bridgeport, Conn.: ‘A Diamond in the Rough’ Reinventing Itself
This Fairfield County city is working to shed its ‘rundown’ image, although progress is happening slowly: “The city’s turning itself around.”
Bridgeport, Conn.: ‘A Diamond in the Rough’ Reinventing Itself
This Fairfield County city is working to shed its ‘rundown’ image, although progress is happening slowly: “The city’s turning itself around.”
NAR-DOJ ruling divides agents over commission, pocket listing rules
Agents and brokers who spoke to Inman following the ruling in favor of NAR disagreed on who is "overreaching" in the case and on whether changes to the controversial rules are necessary.
Meet Ira Wallace, the Godmother of Southern Seeds
For a quarter of a century, Ira Wallace has nurtured seeds and gardeners: ‘When you say her name in our community, all this love comes up.’
What’s the best piece of advice you’ve gotten from a mentor? Agents weigh in
From advice on managing your money, time and mindset to practical advice on attire, here's the best advice agents received from their mentors.
$1.9 Million Homes in Arizona, Florida and Massachusetts
A Spanish-style house in Phoenix, a Craftsman bungalow in Tampa and a 1916 Colonial Revival home in Lexington.
What can we learn from a chicken sandwich? 5 key takeaways
Although they claim to have been the first to offer a fried chicken sandwich, Chick-fil-A realized that anyone else could offer a competing product. Therefore, they focused on developing an unbeatable customer experience.
Listing inventory drying up? 7 FAQs for hosting a budget-friendly homeseller seminar
Hosting a budget-friendly real estate seminar doesn't have to be overwhelming or expensive — all it takes is a bit of creativity and planning ahead of time so you can make sure everything runs smoothly on the day of the event itself.
Meet your mentor: A step-by-step for finding a real estate role model
Whether you’re looking to start strong or take your existing business to the next level, a mentor can be key. Learn how to find the expertise and experience you need in a real estate mentor.
75-Year-Old, Frank Lloyd Wright-Style Home in SoCal Is Listed for $2.5M
Built in 1948 by a Frank Lloyd Wright devotee, this La Canada Flintridge, CA, home could be mistaken as a Wright design.
The hallmarks are there. With an open layout, walls of windows, a stone-stacked fireplace, custom built-ins throughout, and lots of interior wood, the 2,557-square-foot home is reminiscent of many Wright houses.
But this four-bedroom, three-bath dwelling was actually designed and lived in by local architect, Jack Simison, a fan of Wright’s work—especially organic design.
Referred to as the Simison House, the well-preserved property is on the market for the first time in its 75 years. It’s available for $2,500,000.
$1.6M Texas Hotel Is Looking for a Buyer To Check In
Checking in! With 12 bedrooms, 10 with en suite bathrooms, the historic Farris Hotel, aka Hotel Dallas, could be just about anything.
The building, just off Main Street in Eagle Lake, TX, has come on the market with a list price of $1,650,000.
“It was built in 1912 and, throughout its life, it has been a hotel at least twice and then a restaurant. And the individual who owns it now is using it as a single-family residence,” says Tim Grimes of Martha Turner Sotheby’s International Realty, who is co-listing the property with Brian Spack.
“There are so many possibilities somebody could do with this. If somebody has an imagination and is creative, it could be something really special,” Grimes adds.
In a first, Rocket Mortgage powers mortgages for a community bank
Nashville, Tennessee-based Fourth Capital Bank is the first to integrate Rocket’s digital mortgage application using a new platform developed by Q2 Software.
6 Universal Design Tips for Easy, Long-Term Living at Home
Photo courtesy of Mowery Marsh Architects LLC via Houzz
Making your forever home as beautiful as possible is a no-brainer. But when it comes to improving accessibility, not every homeowner prioritizes with the future in mind.
Mobility and functionality are key for comfortably aging in place. Plus, home design that factors for accessibility can also be beneficial when selling a house.
The fix here, as you might have guessed, is called universal design. This is a plan that makes a home accessible and safe for anyone who lives there.
Sometimes called inclusive design or design for all, this approach helps create an equitable environment that accommodates seniors or those with mobility issues. And fortunately, some of these tweaks don’t have to break the bank.