Generation Z—the post-millennial generation—is already making a move into homeownership. This generation—which tops out at age 23—consists of those born in 1995 or later. Nearly 100,000 members of Gen Z have a mortgage, according to data from TransUnion, a credit agency. Their average loan balance is $140,000.Certainly, Gen Z’s homeownership presence is much smaller compared to older generations. In comparison, 12 million millennia
University of Maryland researchers announced they’ve created a way to make wood stronger, lighter, and cheaper than steel. The researchers see the super wood as having a major influence in the building industry one day.“This new way to treat wood makes it 12 times stronger than natural wood and ten times tougher,” says Liangbing Hu, a Maryland professor and leader of the team who conducted the research. “This could be a competitor to stee
A San Francisco real estate agent was held at gunpoint and robbed during a midday open house she was hosting last Saturday, the San Francisco Police Department reports. The house is located on a privately owned street in San Francisco’s Bayview Heights neighborhood.The 55-year-old agent was in the home’s kitchen prepping for the open house on March 17 when she heard footsteps inside, police said. The agent went to greet who she thought was a
Homeowners who want to increase their property’s value don’t necessarily have to start knocking down walls or adding extra rooms. In fact, a coat of paint can go a long way toward enhancing the look of a space. Modern Garden Rooms offers the following infographic that shows numerous ways you can add value to a property.Source: Modern Garden Rooms
Setting a list price is potentially one of the sharpest thorns in the agent-client relationship. Many sellers believe they know better what their home is worth, and it may be difficult to convince your client to trust your professional opinion. And the internet doesn’t make this process easier.Sellers often consult online automated valuation models, or AVMs, such as Zillow’s “Zestimate,” to get a scope of what their property is worth. But
Toys ‘R’ Us recently announced its plan to close or sell more than 800 of its stores across the country, and some commercial real estate experts are concerned about the hundreds of empty storefronts that will be left behind. Some landlords are already scrambling to find replacements.Many Toys ‘R’ Us and Babies ‘R’ Us locations are between 40,000 to 65,000 square feet. This is “problematic as the list of retailers seeking that
The U.S. Department of Labor’s proposed rule expanding the use of association health plans is a step in the right direction, but more work must be done to refine the plan before making health insurance options available through AHPs, a prominent REALTOR® testified Wednesday on Capitol Hill.Michael McGrew, right, a former NAR treasurer, meets with Rep. Tim Walberg (R-MI), chairman of the House Education and the Workforce Subcommittee on Health
“Adulting” is getting harder for younger generations, which is stymieing the housing market from reaching its full potential, according to Freddie Mac’s latest March Insight report. The report compares young adults to previous generations and the impact to household growth.“For today’s young adults, ‘adulting’ is hard because the economic environment has been tough in recent years; wage growth has been weak and housing costs have
Homeowners who don’t live near a federally recognized floodplain may still be at risk of flooding, and the Federal Emergency Management Agency severely underestimates the number of people who could potentially be affected, according to a new study in the journal Environmental Research Letters.Researchers from the University of Bristol in the United Kingdom, the Nature Conservancy, and the Environmental Protection Agency say that the U.S. pop
Be careful: You may be under surveillance when touring a property. Some sellers are using surveillance cameras inside their home to record the sight and sound as prospective buyers walk through.The increase in these home recordings—many from security systems that owners already have installed—are raising some concerns surrounding privacy in real estate transactions, MarketWatch reports.Jill Comfort, a real estate pro in Phoenix, told MarketW
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