Some luxury homeowners are scaling back the number of bedrooms in a home to leave more space for hobby rooms and other amenities that can raise the property’s value, The Wall Street Journal reports.But some real estate experts warn that fewer bedrooms could be a risk at resale.“There’s always going to be a narrower market” for a home with fewer bedrooms, Javier Vivas, economic research manager for realtor.com®, told The Wall Street Journ
Millennials don’t like to move compared to other generations. Just 20 percent of 25- to 35-year-olds in 2016 said they changed their addresses in the previous year. In 2000, 26 percent of Generation X members had moved the previous year. In 1990, 27 percent of late baby boomers reported they had moved, according to U.S. Census Bureau data.As the economy improves, economists expect moves to increase as Americans pursue job opportunities, particu
Nearly half of people in their early 20s still receive help from their parents in paying their rent, according to a new analysis by the New York Times of more than 2,000 young people from 2007 to 2013.With jobs so concentrated in metro areas – and where rents are often sky-high – young people are increasingly turning to their parents for financial assistance. The study’s researchers, controlling for other factors, found that young adults li
Bigger isn’t necessarily better when it comes to appreciation. In fact, a new study shows that smaller homes likely will offer a bigger percentage return on a home shopper’s investment.A new study conducted by NerdWallet culled three years of listing data from realtor.com® of the 20 of the largest U.S. metro areas and shows that smaller homes, in general, appreciate at a faster rate than larger homes.Markets can vary greatly, however. In 17
Score one for the photographers. In a Seattle courtroom Friday, a federal jury ordered Zillow Group Inc. to pay $8.3 million in a copyright infringement lawsuit filed over the use of photographs on Zillow Digs.The lawsuit was filed in 2015 by VHT Inc., a photography and image management services company that does business as VHT Studios. The suit claimed that Zillow displayed or saved images, produced by VHT for marketing purposes, to the Zillow
Nearly a third of baby boomers say they experience anxiety – at least once a month – about being able to afford where they live. Forty-two percent of retirees report having such anxiety on a daily basis, according to a new survey by The NHP Foundation of 1,000 Americans aged 55-plus.Overall, 46 percent of survey respondents say they are concerned about “the ability to afford desirable retirement living.” They’re concerned about their ad
Households in the suburbs increased nearly 8 percent nationally from 2010 to 2017, while urban areas grew by 6.6 percent, according to an analysis by realtor.com®.“Most high-growth urban areas just don’t have enough land, so prices are higher and homeownership is typically lower,” says Jonathan Smoke, realtor.com®’s chief economist. “It’s tempting to live in a walkable urban neighborhood … but the costs make it hard to afford, es
Pets are having more of an influence in home buying and selling as well as renovation, a new study by the National Association of REALTORS® shows. Eighty-one percent of Americans say that animal-related considerations play a role when deciding on their next living situation, according to the 2017 Animal House: Remodeling Impact report.“In 2016, 61 percent of U.S. households either have a pet or plan to get one in the future, so it is importan
Home price appreciation picked up speed in the final three months of 2016, prompting the majority of metro areas to soar to new record highs with home prices, the National Association of REALTORS®’ latest quarterly report reveals. Of the 150 markets NAR has tracked since 2005, 52 percent – or 78 – now have a median sales price that is at or above its previous all-time high.The fourth quarter of 2016 proved to be a strong one for home price
The equity picture is looking brighter for homeowners. At the end of 2016, there were 13.9 million U.S. properties – or nearly 25 percent of the housing stock with a mortgage -- that were considered equity rich, according to ATTOM Data Solutions.Equity rich is when the loan on the property is 50 percent or less of the property’s estimated market value. The number of equity-rich properties has grown by 1.3 million homes compared to a year ago.
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