Real Estate News
-
The top housing markets in 2022 projected by Realtor.com
Barron’s associate editor Andrew Bary shares his insights on affordability in today’s housing market on ‘Barron’s Roundtable.’ Realtor.com has released its projections for where the hottest housing markets in the U.S. will be in 2022, listing the ten areas it sees as positioned for the most growth next year. The real estate site reported that the areas topping its list have strong local economies with vibrant culture and opportunities for recreation – and the combination of those factors are attracting new residents looking for remote work. 1. Salt Lake City, Utah Winter daytime shot of Salt Lake City (iStock) (iStock / iStock) Median home price: $564,062 Project home price increase:…
-
DoD’s average housing subsidy sees big increase as real estate continues to get pricier
The average amount of housing subsidies the Defense Department will give out to service members in 2022 is increasing substantially compared to previous years. The Pentagon says the mean increase of basic allowance for housing (BAH) will go up by 5.1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, a wide jump from the past two years, which have averaged just below 3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}. DoD will spend $25.6 billion on BAH for 2022. Depending on grade and dependency status, service members will see BAH go up by a range of $74 to $168. Allowances will not decrease. “The department is committed to the preservation of a compensation and benefit structure that provides members with an adequate standard of living…
-
Santa Claus’s Real Estate Is Booming
Nancy Schwab loves Christmas. Really, really loves Christmas. “I have Santa collections from when I was little,” said Ms. Schwab, 62, a retired school administrator. Thus, it became a source of annual annoyance that decking the house with boughs of holly (and twinkly lights) was frowned upon in her Joliet, Ill., neighborhood until Thanksgiving had come and gone. Almost two years ago, Ms. Schwab and her husband, Robert, a retired carpenter and contractor, began to contemplate relocating to a place with a vastly different feel. “We started researching, and Santa Claus, Ind., came up,” Ms. Schwab said of the town in the southern part of the Hoosier state that bills…
-
Hawaii’s ultra-luxe real estate is smashing records. Here’s what’s selling
This $23.5 million mansion in Kauai recently sold to guitarist Carlos Santana. PanaViz Hawaii’s luxury real estate market is soaring to all-time highs fueled by several factors including pent-up demand from the coronavirus pandemic, record low interest rates and rising equity markets. In the first three quarters of this year, homes valued at $3 million or more saw sales volume rise 235{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} compared with the same period in 2020. Deal volume hit a record-breaking $3.7 billion, according to Hawaii Life’s Luxury Market Report. But sales of homes priced above $10 million have climbed at an even more robust pace — trouncing state records. “It’s just been like a rocket ship,”…
-
Commercial real estate faces $13.5 billion in flood damage in 2022: Report
A satellite image shows TD Bank Ballpark submerged in flood, after Hurricane Ida swept through the Bridgewater Township in New Jersey, September 2, 2021. Maxar Technologies | Handout via Reuters The commercial real estate industry faces an intensifying threat from flooding, which is likely to lead to billions of dollars in increasing costs, a new study says. Approximately 730,000 retail, office and multi-unit residential properties face an annualized risk of flood damage in the United States. The structural damage from flooding is projected to cost $13.5 billion in 2022, increasing to over $16.9 billion by 2052, according to the First Street Foundation, a nonprofit research and technology group, and global…
-
‘TikTok changed my life.’ Real estate agents find huge success on the app
Last year, a Zillow survey showed that 36{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of buyers would even purchase a property sight unseen. But despite all the desperate buyers willing to skip the in-person showing, most people still expect to actually see a home first. During the height of the pandemic, real estate agents across the country discovered that social media platform TikTok was an ideal way to safely show prospective buyers homes. Now, some are saying the video app has revolutionized the way they sell real estate — and it is here to stay. Madison Sutton is a 25-year-old agent in New York City. She specializes in off-market deals and what she calls “hidden-treasure apartments.”…
/cdn.vox-cdn.com/uploads/chorus_asset/file/23443457/merlin_2921223.jpg){kind=small}
