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Real Estate

10 Cities Scored for Best Infrastructure

NAR Daily News Magazine - October 22, 2017 - 11:00pm

As home buyers increasingly consider the infrastructure around a listing, they are looking at things such as the condition of highways and sewers...

Categories: Real Estate

The Most (and Least) Valuable States in America

RisMedia Consumer News - October 20, 2017 - 11:01pm

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Everyone knows location is the most important part of real estate. You can’t change where your house is (all things being equal). You have to consider school districts, crime rates, commute times—the list goes on and on. It can be much simpler when you’re considering buying a home to compare apples to apples so you can see how the real estate market differs according to location, so HowMuch.net created a new visualization showing land and housing prices at a glance.


The blue dots represent the value of an acre of land, and the red circles indicate the median value of a home. The bigger the blue dot and the larger the red circle, the more expensive it is to become a property owner. Small circles and dots likewise indicate a very low cost of purchasing property. The home values are from the U.S. Census Bureau’s 2015 American Consumer Survey, and the numbers behind the land values come from the Bureau of Economic Analysis.

Several things stand out in the illustration. An acre of land is much more valuable in the Northeast compared to any other part of the country. This is partly because the Eastern seaboard is a very densely populated area with several large cities, most notably New York. New York and Massachusetts have some of the oldest modern structures anywhere in the U.S. In other words, Eastern cities are a lot older than Midwestern cities, so there isn’t a lot of farmland for suburban expansion anymore. In terms of geographic size, these are some of the smallest states in the country. As a matter of fact, the three states where the cost of an acre of land is greater than the median price of a house are all located on the East Coast, and they happen to be some of the smallest states in the Union (Rhode Island, Connecticut, and New Jersey).

Median home values (the red circles) are a different and more complicated story. California has the most expensive houses by far ($449,100). Oregon and Washington boast similarly high housing valuations, as well ($264,100 and $284,000, respectively). It is also expensive to buy a home on the East Coast, with six out of the top 10 states with the most expensive median home values.

There’s a noticeable dip in both housing and land prices in Southern and Midwestern states. Prices slowly rise the further you move from east to west. This highlights unique economic developments over the last several years, including the boom in oil exploration in North Dakota and the growth of Western cities, like Denver, thanks to young people. Snowbirds also tend to move to Florida and Arizona when they retire, which also pushes up housing prices in those places.

Top 5 Most Expensive States to Buy a Home

  1. California
    Value per Acre: $39,092
    Median Home Value: $449,100
  1. Massachusetts
    Value per Acre: $102,214
    Median Home Value: $352,100
  1. New Jersey
    Value per Acre: $196,410
    Median Home Value: $322,600
  1. Maryland
    Value per Acre: $75,429
    Median Home Value: $299,800
  1. New York
    Value per Acre: $41,314
    Median Home Value: $293,500

Top 5 Cheapest States to Buy a Home

  1. West Virginia
    Value per Acre: $10,537
    Median Home Value: $112,100
  1. Mississippi
    Value per Acre: $5,565
    Median Home Value: $112,700
  1. Arkansas
    Value per Acre: $6,739
    Median Home Value: $120,700
  1. Oklahoma
    Value per Acre: $7,364
    Median Home Value: $126,800
  1. Kentucky
    Value per Acre: $7,209
    Median Home Value: $130,000

All this shows that the laws of supply and demand are alive and well in the real estate market. You can easily find cheap acres of land where they are plentiful and un-useful (sorry, Nevada), but owning property is a lot more expensive in smaller places crowded with lots of people. As always: location, location, location.

A version of this article originally appeared on HowMuch.net.

For the latest real estate news and trends, bookmark RISMedia.com.

The post The Most (and Least) Valuable States in America appeared first on RISMedia.

Categories: Real Estate

Single-Family Rental Yields Are Softening

NAR Daily News Magazine - October 19, 2017 - 11:00pm

The overall health of the single-family rental market is strong, and the top of the market has peaked as home prices return to historic norms...

Categories: Real Estate

Meager Sales Rebound Underscores Tough Market

NAR Daily News Magazine - October 19, 2017 - 11:00pm

Real estate transactions remain near their lowest level of the year, despite buyer interest in most parts of the country, NAR reports.

Categories: Real Estate

How Much Amazon’s HQ2 Will Drive Up Rents

NAR Daily News Magazine - October 19, 2017 - 11:00pm

A “prime markup” is in store for the rental market in the city where the online retailer chooses to base its second headquarters,...

Categories: Real Estate

More Neighborhoods Fall Under HOA Guidance

NAR Daily News Magazine - October 19, 2017 - 11:00pm

There could be as many as 347,000 community associations throughout the country this year, so your clients should be aware of any rules in the...

Categories: Real Estate

Mortgage Rates Ease This Week

NAR Daily News Magazine - October 19, 2017 - 11:00pm

Borrowers may be able to lock in lower interest rates this week, as the 30-year fixed-rate mortgage dips to a 3.88 percent average.

Categories: Real Estate

Can Developers Please Both Boomers and Millennials?

NAR Daily News Magazine - October 19, 2017 - 11:00pm

The two generations don’t always agree on what they want in a home, posing challenges for builders who are striving to meet both groups...

Categories: Real Estate

Where Price Per Square Foot Is Highest, Lowest

NAR Daily News Magazine - October 19, 2017 - 11:00pm

See how vastly different prices per square foot are in various regions of the U.S.

Categories: Real Estate

‘Hottest Zip Codes’: A Tale of Three States

RisMedia Consumer News - October 19, 2017 - 3:46pm

Realtor.com®’s annual Hottest Zip Codes in America ranking reads like a tale of three states: California, Colorado and Michigan.

  1. Watauga, Texas (76148)
  2. Livonia, Mich. (48154)
  3. Kentwood, Mich. (49548)
  4. Medford, Mass. (02155)
  5. Littleton, Colo. (80123)
  6. Castro Valley, Calif. (94546)
  7. Colorado Springs, Colo. (80922)
  8. Overland Park, Kan. (66210)
  9. Mira Mesa (San Diego), Calif. (92126)
  10. Hilliard, Ohio (43026)

California, Colorado and Michigan nabbed six spots in the top 10 (another zip in California, 95758, stopped just shy at No. 11), thanks to three traits: affordability, good-paying jobs and millennials. Of California’s zip codes in the top 10, the median home price ranges from $536,394 (Mira Mesa/San Diego) to $728,267 (Castro Valley); of Colorado’s zip codes in the top 10, the median home price ranges from $273,222 (Colorado Springs) to $533,873 (Littleton); and of Michigan’s zip codes in the top 10, the median home price ranges from $118,833 (Kentwood) to $223,780 (Livonia).

Generally, homes in the top 10 are more affordable than counterparts in their county or metropolitan area, and the markets themselves have higher incomes, low unemployment and more millennials.

“While low inventory is a challenge, millennials are the largest generation in U.S. history and they are flexing their muscle when it comes to the housing market,” says Danielle Hale, chief economist for realtor.com. “Increasingly, the hottest housing markets are the ones that appeal to millennial preferences, and right now the standouts are relatively affordable suburbs with local ‘it’ factors such as hiking trails, great restaurants and nightlife.

“With the largest cohort of millennials turning 30 in 2020, we can expect these types of areas to stay in demand in the years to come,” Hale says.

Homes in the top 10 sell in an average 21 days, the ranking reveals, and listings located in the top 10 are viewed four times more on realtor.com than those in the rest of the U.S.

For more information, please visit www.realtor.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post ‘Hottest Zip Codes’: A Tale of Three States appeared first on RISMedia.

Categories: Real Estate

Skills Agents Say Are Most Important

NAR Daily News Magazine - October 18, 2017 - 11:00pm

A new report from NAR cites being a people person as one of the many traits you should have to succeed as a real estate agent. Do you have what it...

Categories: Real Estate

2017’s Hottest ZIP Codes

NAR Daily News Magazine - October 18, 2017 - 11:00pm

Find out which cities are hitting high notes on realtor.com®’s list for the year’s hottest housing markets.

Categories: Real Estate

Hurricanes Pummel New-Home Production

NAR Daily News Magazine - October 18, 2017 - 11:00pm

Fewer new homes are in the works, and economists say recent hurricanes that struck the South brought down the latest housing numbers. 

Categories: Real Estate

Boomers Stuck With Big Homes to Sell

NAR Daily News Magazine - October 18, 2017 - 11:00pm

Baby boomers are growing concerned that they’ll be unable to sell their big suburban homes as younger generations show different housing...

Categories: Real Estate

More Renovations in the Forecast for 2018

NAR Daily News Magazine - October 18, 2017 - 11:00pm

A new report finds annual gains in home renovation and repair spending will surge through the third quarter of next year.

Categories: Real Estate

The Best Places to be a Landlord

NAR Daily News Magazine - October 18, 2017 - 11:00pm

Higher home prices and a tight supply of homes for sale may be the mantra nationwide. But certain markets are still offering lucrative options for...

Categories: Real Estate

Airbnb Now to Build its Own Apartments

NAR Daily News Magazine - October 17, 2017 - 11:00pm

Airbnb may have found a way to settle its disputes with cities over short-term leasing apartments and homes. It’ll build its own apartment...

Categories: Real Estate

Study: Your Listing’s Words Carry Weight

NAR Daily News Magazine - October 17, 2017 - 11:00pm

Properties that contain certain words in their listing comments tend to sell for higher prices, a new study reveals. Find out which words can have...

Categories: Real Estate

Bitcoin Real Estate Deals: A Hot Trend?

NAR Daily News Magazine - October 17, 2017 - 11:00pm

“Our buyer has evolved; they’ve moved from mom-and-pops to young people who want to pay with various forms of payment,” the...

Categories: Real Estate

These Lenders Dominate the Mortgage Market

NAR Daily News Magazine - October 17, 2017 - 11:00pm

Here are the most popular lenders borrowers are turning to for financing a home purchase or for refinancing. 

Categories: Real Estate