“Adulting” is getting harder for younger generations, which is stymieing the housing market from reaching its full potential, according to Freddie Mac’s latest March Insight report. The report compares young adults to previous generations and the impact to household growth.“For today’s young adults, ‘adulting’ is hard because the economic environment has been tough in recent years; wage growth has been weak and housing costs have
Homeowners who don’t live near a federally recognized floodplain may still be at risk of flooding, and the Federal Emergency Management Agency severely underestimates the number of people who could potentially be affected, according to a new study in the journal Environmental Research Letters.Researchers from the University of Bristol in the United Kingdom, the Nature Conservancy, and the Environmental Protection Agency say that the U.S. pop
Be careful: You may be under surveillance when touring a property. Some sellers are using surveillance cameras inside their home to record the sight and sound as prospective buyers walk through.The increase in these home recordings—many from security systems that owners already have installed—are raising some concerns surrounding privacy in real estate transactions, MarketWatch reports.Jill Comfort, a real estate pro in Phoenix, told MarketW
Replace lightbulbs. The typical American household spends 5 to 10 percent of its energy budget on lighting alone, according to the DOE. Replace incandescent lightbulbs with LEDs, which on average are 85 percent more energy-efficient. You can shave $100 a year on your energy costs by making the switch.Unplug. Leaving cellphones, TVs, computers, and other electronic devices plugged in can continue to pull power from the grid. That can add up over
Last week, we introduced the 50 finalists vying for a spot in REALTOR® Magazine’s 2018 class of 30 Under 30. Now you can learn more about each of these extraordinary young professionals in their online profiles and help one of them win the Web Choice Award and land a spot in the final group of 30.The voting period is now open and will close at noon CDT on Friday, March 23. Members of the public can log in and “like” their favorite candida
Wellness-minded millennials are filling their homes with clean-air houseplants, and real estate developers are realizing that a love for greenery can be used as an amenity to attract buyers.Millennials are looking for spaces to add indoor gardens. Real estate developers are jumping on the trend. The ARC in Long Island City, a 428-unit luxury rental building, allows its residents to use a 1,100-square-foot glass greenhouse where they can plant and
Home floor plans can take much longer to evolve than design trends. Changes tend to occur over years, as some designers and architects look to push the envelope and take a gamble on what they believe will resonate with buyers. But a few trends are starting to emerge.BUILDER recently weighed in on some of the hottest fads that could impact more floor plans in 2018, including:1. Flexibility for multigenerational households. More homes are being bu
A new program that sets out to help spark an early interest in real estate among inner-city teens is borrowing some star power to grow its efforts. Project Destined, which recently won the support of former baseball legend Alex Rodriguez and singer-actress Jennifer Lopez, teaches teens financial literacy through investments in real estate. The teens are taught how to value and finance local apartment buildings and then are given the opportunity
Millennial buyers are more diverse and mobile than their predecessors, and expect real estate professionals to be totally tech-savvy, right? According to certain data points from the National Association of REALTORS®’ 2018 Home Buyer and Seller Generational Trends Report, that may not be universally true.The report, which is based on a survey NAR mailed out to a random, though geographically weighted, sample of 145,800 recent home buyers last
Seventy-four percent of contracts in the first month of the year contained settlement contingencies, according to the January 2018 REALTORS® Confidence Index survey, conducted by the National Association of REALTORS®.The monthly survey, based on responses from more than 3,500 REALTORS® about their latest transactions, examines what real estate pros are seeing most often in contracts. The most common contingencies are home inspection (58%),
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