New homes are expected to be a “primary driver of sales in 2018,” as 1.33 million housing starts are predicted next year—up from 1.22 million in 2017, according to Freddie Mac’s September Outlook report, which gauges future real estate activity. Total home sales are expected to increase about 2 percent from 2017 to 2018, according to the report.Economists also predict that the uptick in housing starts, coupled with a moderate increase in
Real estate professionals in South Florida say housing was largely spared the wrath of Hurricane Irma last week, and they expect only minor delays in closings. Homes that were under contract when Irma hit will need to be reinspected, says Jim Flood, regional manager for Supreme Lending in Fort Lauderdale. Some lenders are covering the average $200 cost for reinspections and extending interest rate lock-ins for 10 days to help clients minimize del
Accessory dwelling units are increasingly being used by homeowners to add small secondary housing options on their property. These “granny flats” may be in the form of a converted garage or even a tiny home in an oversized backyard.As more municipalities look to grant permits for these structures, some hope the trend can help alleviate housing shortages. Many forms of guest houses were deemed illegal in California up until recently. But a n
Millions of homeowners are getting ready to rebuild damaged property now that Hurricanes Harvey and Irma have moved out of Florida, Texas, and other affected areas. But media reports warn of a new threat: storm scammers.“We’ve seen it after every significant disaster, and we don’t expect anything different once the Harvey-induced floods recede,” Frank Scafidi, spokesman for the nonprofit National Insurance Crime Bureau, told CNN.Indeed,
Brace your new-home buyers for their home’s wait time: The average time to complete a single-family home is about 7.5 months, according to the Census Bureau’s 2016 Survey of Construction. That includes nearly a month of permitting before any construction takes place, and then another 6.5 months to finish the actual construction.However, the time to build can greatly depend on geographic location. For example, the New England region had the l
Outdoor fire pits and fireplaces are the hottest landscaping trend for fall, according to a survey from the National Association of Landscape Professionals. The association surveyed more than 5,000 of its landscaping professional members.Here’s what topped the NALP’s list of the five hottest outdoor trends for fall:1. High-tech fire pits: Fire pits today can be automated and programmed to turn on and off at certain times or controlled fr
As Hurricane Harvey moves off the coastline of Texas, it's leaving massive flooding in its wake that has destroyed homes and businesses.Until the floodwaters recede, cleanup efforts are mostly on hold. But remediation companies say they’re ready to jump into action as soon as they’re able. In preparation for the undertaking, here are a few important items to share about repairing a flooded home, compiled by realtor.com®.Time is of the essen
Real estate professionals across the mid-Atlantic are finding home buyers are placing a higher value on outdoor spaces and their potential for entertainment, according to The Washington Post. Here are the specific amenities that are proving most beneficial to sellers in marketing their properties:The outdoor kitchenThese spaces are becoming more than just a simple dining set and grill. They are now being outfitted with an outdoor refrigerator, s
The average homeowner is spending more money on a greater number of home improvement projects, according to HomeAdvisor’s 2017 True Cost Survey, a study of 14 million service requests received between July 2016–17. However, the projects vary by generation, income, and geography, the study finds. Here are the top five most popular home improvement projects by generation.Millennials Install outdoor play equipment Install childproofing Install
The prices of newly built homes are rapidly rising, which may have caused the plunge in new-home sales last month, CNBC reports. Sales of newly built single-family homes tumbled 9.4 percent month over month in July to a seasonally adjusted annual rate of 571,000 units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Wednesday. This is the lowest reading for new-home sales since December 2016.The media
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