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Zillow : Home Values Higher than Ever in Almost Half of Nation's Largest Markets

SEATTLE, Aug. 24, 2017 /PRNewswire/ -- Home values are setting new records in about half of the country's largest metros, and the national median home value is now $4,100 more than it was in April 2007, just before the market crashed , according to the July Zillow® Real Estate Market Report(i). Home values in Denver, Dallas and San Jose have appreciated most beyond the previous record-highs set at the peak of the housing bubble in the mid-2000s. Homes in Denver are almost 60 percent more valuable now than during the bubble, increasing from a median home value of $235,900 in April 2006 to a current median home value of $371,100. When the housing market crashed , home values plummeted and it has taken about 10 years for home values to reach new record highs. Strong labor markets and steady income growth have pushed up home values in the nation's hottest markets more quickly than in others. Among the 35 largest housing markets , 15(ii) have higher median home values than ...

Chip and Joanna's 'Fixer Upper' Special and Other Celebrity Homes You Can Buy or Rent

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August 26, 2017 Chip and Joanna love fixing up houses, and even offer a popular rental house | HGTV.com You may not be a celebrity, but you can live like one. The rich and famous love selling (and renting) luxury real estate almost as much as they like buying it. Provided you have the money, you can move into a home where the glitterati once slept. You might even be able to score a relative bargain in the process. Celebrities sometimes have trouble unloading their over-the-top homes, research by Redfin has found. The real estate website looked at 60 homes celebrities bought and sold, and compared them to similar homes that weren’t purchased by famous faces. The stars’s homes not only took longer to sell, but they also tended to sell at a discount. It wasn’t unusual for celebrity home s to sell for $1 million or more under the original asking price. ")}; Sometimes a celebrity’s home takes a while to sell because of unique design features or amenities that don’t appeal to al...

Indians second largest buyers of Central London property

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Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg" title="Indians spent an average of £1.77 million for a Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg" class="img-responsive" /> Indians spent an average of £1.77 million for a Central London property , slightly higher than the market average of £1.6 million. Photo: Bloomberg Bengaluru: Indians are the second largest buyers of property in central London , accounting for 22% of sales in the year to August, pushing buyers from West Asia to the third slot (at 21%), according to property investment advisory London Central Portfolio ’s (LCP) latest sales audit . South- East Asian buyers took the top spot, accounting for 36% of all purchases. Interestingly, Indians also spent more per house. They accounted for one-third of the total spend, with an average purchase price of £1.77 million, slightly higher tha...

Housing recovery suffers, but don't blame the millennials

Competition for housing is soaring, affordability is weakening and the U.S. housing recovery is grinding to a crawl — and, in large part, the baby boom generation is to blame. No, they're not doing anything immoral or illegal; in fact, they're not doing anything at all, and that is precisely the problem. They're not moving. Baby boomers, the enormous group born between 1946 and 1964, are staying in their big suburban homes far longer than previous generations did at this age, and that is having repercussions down the housing supply line . If baby boomers don 't downsize out of big suburban homes , younger buyers eager to upsize, especially in this improving economy, can't find a home to buy. As the competition from young millennials heats up at the entry level, the logjam at the top of the market only heats that competition and pushes prices ever higher and out of reach. So, why don't boomers move? Some if it is because their empty nests have filled back u...

US home construction slumped in July

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Josh Boak, Ap Economics Writer Updated 1:37 pm, Wednesday, August 16, 2017 Commerce Department reports on U.S. home construction in July. Photo: Keith Srakocic, AP / Copyright 2017 The Associated Press. All rights reserved." class="landscape" /> Commerce Department reports on U.S. home construction in July." src="src" /> Photo: Keith Srakocic, AP Image 1 of / 1 Caption Close Image 1 of 1 In this Wednesday, March 1, 2017, photo, a forklift is parked in front of one of the houses under construction in a housing plan in Zelienople, Pa. On Wednesday, Aug. 16, 2017, the Commerce Department reports on U.S. home construction in July. less In this Wednesday, March 1, 2017, photo, a forklift is parked in front of one of the houses under construction in a housing plan in Zelienople, Pa. On Wednesday, Aug. 16, 2017, the Commerce Department reports ... more Photo: Keith Srakocic, AP US home construction slumped in July Back to Gallery WASHINGTON (A...

House-flipping is all the rage. But beware – it’s a lot harder than it looks on TV

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House-flipping hit its highest levels last year since before the recession as investors seek to capitalize on rising home prices and a seller’s market with tight inventory. But the process is nothing like what you see on TV, where it looks like a home can be bought, gutted, renovated and resold in less than an hour – not including commercial breaks . The truth is often much messier, real estate professionals in Charlotte said. “It’s a lot easier to lose money in this business than it is to make it,” said Jeff Johnson, owner of NewPath Properties , which specializes in buying and rehabbing distressed properties . Still, that’s not deterring people from giving it a try in Charlotte. First-quarter figures from Attom Data Solutions show flips – defined as the same property selling twice in a 12-month period same year – made up more than 6 percent of sales in the Charlotte region, or 540 sales. House-flipping increased almost 4 percent from a year ago, though it remains well below the cit...

House-flipping is all the rage. But beware – it’s a lot harder than it looks on TV

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House-flipping hit its highest levels last year since before the recession as investors seek to capitalize on rising home prices and a seller’s market with tight inventory. But the process is nothing like what you see on TV, where it looks like a home can be bought, gutted, renovated and resold in less than an hour – not including commercial breaks . The truth is often much messier, real estate professionals in Charlotte said. “It’s a lot easier to lose money in this business than it is to make it,” said Jeff Johnson, owner of NewPath Properties , which specializes in buying and rehabbing distressed properties . Still, that’s not deterring people from giving it a try in Charlotte. First-quarter figures from Attom Data Solutions show flips – defined as the same property selling twice in a 12-month period same year – made up more than 6 percent of sales in the Charlotte region, or 540 sales. House-flipping increased almost 4 percent from a year ago, though it remains well below the cit...

As housing market soars, poorest renters are priced out

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"); } if ($(imageDivId).length == 0) { $("#wrapper").after(contentText); } })(jQuery); BREMERTON, Wash. - Crystal Turner stood in the kitchen of her cramped apartment and stared at the cracks in the fake wood flooring beneath her feet. Surrounding her was the home she'd made for herself and her two sons in the past year, since they moved out of her Toyota Camry and into Admiral Manor, a low- rent apartment complex in west Bremerton . There was the single bedroom with two kids' beds on the floor. The living room she'd decorated with signs that said "Hope" and "Love." A dingy bathroom with a leaking toilet that had never been fixed. In this undated photo, Matthew Daigneault pushes his son Aden as he plays outside on the swings of his rental home in West Bremerton , Wash. (Larry Steagall/Kitsap Sun via AP) © 2017 Cox Media Group . Admiral Manor wasn 't the place Turner, a recovering addict, wanted to raise her boys. It was the place...