Though homeowners are seeing their equity grow—properties with negative equity fell 3 percent in the first quarter of this year—2.5 million homes nationwide still are considered underwater, according to CoreLogic’s Home Equity Report. Negative equity refers to borrowers who owe more on their mortgages than their homes are worth and can occur because of a decline in a home’s value or an increase in mortgage debt.But rising home prices are
Younger people are not replacing older generations of golf enthusiasts, prompting many golf courses and clubs to shut down—and making room for new construction. The number of regular golfers dropped from 30 million to 20.9 million between 2002 and 2016, according to Pellucid Corp., a golf industry trade group. Now, because of golf facility closures, hundreds of thousands of acres of land nationwide is available for redevelopment, The Atlantic
For the second consecutive month, Fannie Mae’s Home Purchase Sentiment Index reached an all-time survey high in May. But as home prices rise, consumer attitudes about buying and selling a home are diverging even more.The net share of survey respondents who say now is a good to sell rose to 46 percent and is now up 14 percentage points year over year. Meanwhile, the net share who say now is a good time to buy fell to 28 percent and has shown lit
Chinese buyers purchased an estimated $100 billion in property globally in 2016, a rate so high that some areas of the world want to slow down the purchasing power of foreign investors to prevent real estate bubbles from forming, according to Chinese real estate website Juwai.com. In 2010, Chinese buyers bought only $5 billion worth of property. Swelling prices for residential and commercial real estate in Western cities such as Toronto and Vanco
Home flipping activity is increasing across the country, as more investors look to capitalize on the run-up in home prices. Nearly 50,000 single-family homes and condos were flipped in the first quarter of this year, comprising 6.9 percent of all home sales, according to ATTOM Data Solutions’ Q1 2018 U.S. Home Flipping Report. That matches the highest home flipping rate since the first quarter of 2012.Flips in the first quarter of this year so
Homeowners with a mortgage saw their equity rise 13.3 percent year over year, according to CoreLogic’s Home Equity Report for the first quarter of 2018, released Thursday. The average homeowner gained $16,300 in home equity between the first quarter of 2017 and the first quarter of 2018. That is the highest growth in home equity in four years.“Home-price growth has accelerated in recent months, helping to build home-equity wealth and lift und
Tenant screening is more than a credit or background check. But many landlords are failing to gather critical documentation that could help avoid approving tenants who later default on their rent, need to be evicted, or have other problems that cut into a landlord’s profitability, according to a new survey by the American Apartment Owners Association of more than 1,100 of its members.Thirty-seven percent of landlords fail to collect paycheck st
Home prices are near record highs in many markets, and a booming economy and low unemployment are offering promises that the housing market will continue to roar. Sixty-four percent of American adults say they believe home prices will continue to rise in their market this year, which is the highest percentage since prior to the Great Recession, according to a recent Gallup survey.Experian, a consumer credit reporting agency, recently identified t
Mortgage applications reversed course and posted an increase last week, as homeowners and home purchasers sought to take advantage of the lowest rates in six weeks. Mortgage application volume—for home purchases and refinance applications—rose 4.1 percent last week on a seasonally adjusted week-over-week basis, the Mortgage Bankers Association reported Wednesday. Volume, however, is still 2 percent lower than a year ago.Broken out, applicatio
Gains for lower-priced homes are seeing significantly higher increases than more expensive homes, according to the latest CoreLogic Home Price Index Report.CoreLogic researchers analyzed four individual home price tiers. The tiers were broken down into a “low price” tier that reflected homes priced at 75 percent or less of the median; “low to middle price” homes were between 75 and 100 percent of the median; “middle to moderate price”
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