Real Estate

Mortgage applications stall as interest rates rise

Real Estate CNBC - 13 hours 39 min ago
Mortgage applications to purchase a home rose 5 percent last week, the Mortgage Bankers Association says.
Categories: Real Estate

Expect competition to increase among UK house builders: GLG

Real Estate CNBC - 17 hours 36 min ago
GLG Fund Manager Henry Dixon discusses investing in U.K. home builders.
Categories: Real Estate

UK finance minister could miss 'ambitious' pledge on building new homes: CBRE

Real Estate CNBC - 19 hours 2 min ago
Miles Gibson, head of U.K. research at CBRE, speaks about how the domestic housing market could be impacted by Wednesday's UK budget announcement.
Categories: Real Estate

Best and Worst Places for Millennial Home-Buying

RisMedia Consumer News - November 21, 2017 - 4:19pm

Members of the millennial generation, especially first-time buyers, are already struggling to purchase a home due to student loan debt, trouble saving for a down payment and tight inventory—factors cited in the National Association of REALTORS® (NAR) 2017 Profile of Home Buyers and Sellers. According to GOBankingRates, slow wage growth and low unemployment rates across the country are also impacting the homeownership rate.

There are, however, specific locations that may be easier to purchase in because of low median list prices and low monthly mortgage payments. GOBankingRates rated the most and least expensive states across the U.S. to help millennial buyers find affordable housing. The report uses a median income of $60,932 to represent ages 25-34, and the following rankings are based on a 20 percent down payment and a 30-year, fixed rate mortgage.

Top 5 Most Affordable States

  1. West Virginia
    Median Lis price: $154,900
    Estimated time to save for a down payment: 2.5 years
    Monthly mortgage payment: $693
  1. Ohio
    Median list price: $150,000
    Estimated time to save for a down payment: 2.5 years
    Monthly mortgage payment: $704
  1. Arkansas
    Median list price: $150,000
    Estimated time to save for a down payment: 2.5 years
    Monthly mortgage payment: $757
  1. Indiana
    Median list price: $167,000
    Estimated time to save for a down payment: 2.7 years
    Monthly mortgage payment: $757
  1. Iowa
    Median list price: $169,000
    Estimated time to save for a down payment: 2.8 years
    Monthly mortgage payment: $766

Top 5 Most Expensive States

  1. Hawaii
    Median list price: $599,000
    Estimated time to save for a down payment: 9.8 years
    Monthly mortgage payment: $2,584
  1. California
    Median list price: $499,950
    Estimated time to save for a down payment: 8.2 years
    Monthly mortgage payment: $2,168
  1. Massachusetts
    Median list price: $419,900
    Estimated time to save for a down payment: 6.9 years
    Monthly mortgage payment: $1,833
  1. Colorado
    Median list price: $408,068
    Estimated time to save for a down payment: 6.7 years
    Monthly mortgage payment: $1,780
  1. Oregon
    Median list price: $352,000
    Estimated time to save for a down payment: 5.8 years
    Monthly mortgage payment: $1,551

For more details, read the entire GOBankingRates report.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.

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

The post Best and Worst Places for Millennial Home-Buying appeared first on RISMedia.

Categories: Real Estate

Homeowners hurt by GOP tax plan are those who can afford it, says ex-Wells Fargo CEO

Real Estate CNBC - November 21, 2017 - 3:01pm
There may be concern about the tax plan's impact on housing, but Richard Kovacevich says it is mainly the rich who will feel the pain.
Categories: Real Estate

Kimco Realty CEO: Retail is clearly out of favor and getting painted with a broad brush

Real Estate CNBC - November 21, 2017 - 2:43pm
With the holiday season reaching full steam ahead, Conor Flynn, Kimco Realty CEO, discusses the state of retail through the company's shopping center real estate portfolio and what threat Amazon poses to the sector.
Categories: Real Estate

Fmr. Wells Fargo CEO on taxes and the impact on home buyers

Real Estate CNBC - November 21, 2017 - 1:44pm
Richard Kovacevich, former chairman & CEO of Wells Fargo, discusses the provisions in the tax plan that could hurt home buyers.
Categories: Real Estate

Bay Area housing crisis

Real Estate CNBC - November 21, 2017 - 1:42pm
CNBC's Aditi Roy reports on the housing crisis in the Bay Area which forces buyers to turn to other options.
Categories: Real Estate

Competitive market tough for first-time buyers

Real Estate CNBC - November 21, 2017 - 1:40pm
CNBC's Diana Olick reports on how the tax plan could cause concern for the low housing inventory and prospective buyers.
Categories: Real Estate

October existing home sales up 2.0%

Real Estate CNBC - November 21, 2017 - 10:02am
CNBC's Diana Olick reports the latest read on existing home sales.
Categories: Real Estate

US existing home sales rise 2 percent, beat expectations

Real Estate CNBC - November 21, 2017 - 10:01am
U.S. home sales increased more than expected in October as hurricane-related disruptions dissipated,
Categories: Real Estate

China to fend off bubble risk with tighter property rules

Real Estate CNBC - November 21, 2017 - 6:35am
Beijing says it will stop illegal capital from moving into real estate.
Categories: Real Estate

How FCC Plan to End Net Neutrality Hurts You

NAR Daily News Magazine - November 21, 2017 - 12:00am

NAR says that without a “neutral online playing field,” real estate companies, multiple listing services, and...

Categories: Real Estate

Where Owners Forget to Lock Their Doors

NAR Daily News Magazine - November 21, 2017 - 12:00am

These regions are more prone to burglaries, considering the amount of homeowners who forget to lock their doors.

Categories: Real Estate

Home Sales Are Rising Despite Supply Woes

NAR Daily News Magazine - November 21, 2017 - 12:00am

Existing-home sales in October rose to the strongest pace since earlier this summer.

Categories: Real Estate

How to Handle Internet Trolls

NAR Daily News Magazine - November 21, 2017 - 12:00am

Respond to rude comments online or angry customer complaints with these four tips that will help salvage a sale, relationship, or your name...

Categories: Real Estate

Know Your Home’s Earthquake Risk

NAR Daily News Magazine - November 21, 2017 - 12:00am

Half of the world’s population lives near active earthquake faults, and some may not even know it.

Categories: Real Estate

Equity-Rich Properties Surge Nationwide

NAR Daily News Magazine - November 21, 2017 - 12:00am

Continued home price appreciation is helping to grow the number of equity-rich homeowners across the country.

Categories: Real Estate

You can buy this luxury palace with bitcoin

Real Estate CNBC - November 20, 2017 - 3:49pm
The owners of a sprawling coastal estate in Ibiza, Spain, are accepting bitcoin for their property.
Categories: Real Estate

Expect UK finance minister to move towards supply side measures on housing: Expert

Real Estate CNBC - November 20, 2017 - 1:47am
Mark Farmer, founding director and CEO at Cast Real Estate & Construction Consultancy, speaks about how the U.K. budget update will address housing.
Categories: Real Estate