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☆ Real estate investors share 3 strategies they've used to increase the value of their properties by up to 60%
▼ + stars: | 2024-07-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Real estate investing, if done prudently, can earn income in a variety of ways. There's no guarantee your real estate will appreciate, but there are strategies you can use to improve your chances. Focus on the kitchen and bathroomsDana Bull, a Massachusetts-based real estate investor, agent, and consultant, bought her first property for $200,000 in 2012. Massachusetts-based real estate investor Dana Bull. Unless you're truly an expert in design, it's often worth it to pay a professional, she said: "I'm a real estate agent.

Persons: Dana Bull, They'll, Afzal, Monroe, it's Organizations: Service, Business Locations: Massachusetts, Monroe , New York, New York City, Manhattan

Average 30-year mortgage rates have been hovering in the upper 6% range so far this month, according to Zillow data. That would likely mean we'd need to wait longer for mortgage rates to drop. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices.

Persons: Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ Pricing is really weird lately
▼ + stars: | 2024-07-10 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why pricing is so weird these days . More recently, Walmart introduced digital price tags, which some people said could be used for variable pricing. The constantly changing costs have consumers feeling a sense of price fatigue, Emily writes. Emily writes that most economists agree that government-mandated price-fixing isn't the way to go about it. So, as Emily writes, you can't fault anyone for feeling a certain sense of doom and gloom about the economy.

Persons: —, Alyssa Powell, Emily Stewart, Emily, Michael Raines, Rebecca Zisser, Michael Arone, Steve Granitz, Elon Musk, Tyler Le, Larry Page, Biden, Keir Starmer, Rishi Sunak's, Jerome Powell, Jordan Parker Erb, Lisa Ryan, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Soviet Union, Business, Walmart, JPMorgan, Wall, Group, State, Navy, Spotify, Labour Party, Samsung Locations: Montana, Soviet, America, USA, Diego, Idaho, New York, London

☆ Zillow Gone Wild Is Making Weird Houses Popular and Easier to Sell
▼ + stars: | 2024-07-10 | by ( Michelle Mastro | ) www.businessinsider.com time to read: +10 min

While most people follow Zillow Gone Wild to gawk at the weird and bizarre features of other people's homes, some are looking to buy. And with Zillow Gone Wild and a host of other real-estate influencer accounts, a wild home is now easy to find. At the end of April, Leyendecker had a listing in Plymouth, Minnesota, posted on Zillow Gone Wild. Her guests are always amused to discover the home was listed on Zillow Gone Wild. "My husband was a little bit more reserved and nervous about sharing that the house was from Zillow Gone Wild.

Persons: Matt Kugizaki, Nick Levenhagen, Joshua, Nick, Kugizaki, Patrick Hasson, Levenhagen, Levenhagen aren't, Samir Mezrahi, Mezrahi, Kate Wagner, Los Angeles, Los Angeles Dodger Andre Ethier, Nick Leyendecker, Leyendecker, Hasson, Millennials, Ashley Spencer, it's, Spencer, home's, I've, Michelle Mastro, she's Organizations: House, HGTV, Los, Los Angeles Dodger, Homeowners Locations: Joshua Tree , California, Zillow, Gilbert , Arizona, San Luis Obispo , California, Colorado Springs , Colorado, Plymouth , Minnesota, Austin, Minneapolis

Mortgage rates have been holding steady so far this week, but they could fluctuate on Thursday when the Bureau of Labor Statistics releases June's Consumer Price Index data. If this index shows that inflation slowed last month, rates could ease. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to go down. This should remove some of the upward pressure off of mortgage rates and allow them to trend down more substantially. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they're, you'll, Fannie Mae Organizations: Bureau of Labor Statistics, Federal Reserve, Investors, Zillow, Mortgage, Association, Sky Locations: Chevron

As long as inflation continues to slow, mortgage rates should ease throughout the remainder of 2024, improving affordability for hopeful homebuyers. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Decrease Slightly (-0.09%)The current average 30-year fixed mortgage rate is 6.62%, down nine basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Essentially Flat (+0.01%)The average 15-year mortgage rate is 5.99%, just one basis point higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase Slightly (+0.16%)The average 30-year refinance rate is 7.86%, 16 basis points up from last week.

Persons: you'll, It's, refinance Organizations: of Labor Statistics, Federal Reserve, Zillow, FHA Locations: Chevron

☆ Mississippi and West Virginia have some of the poorest Americans — and the highest home ownership rates
▼ + stars: | 2024-07-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.

Persons: Vera Sansalone, Sansalone, “, ”, ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas

In June, 30-year mortgage rates averaged around 6.58%, an 18-basis-point drop from the month before, according to Zillow data. This index is a key measure of inflation, and if it decelerated last month, mortgage rates could inch down in response. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to ease. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.25% last week, according to Freddie Mac data.

Persons: Fannie Mae's, homebuyers, you'll, Freddie Mac, it's Organizations: of Labor Statistics, Federal Reserve, Zillow Locations: Chevron

If the data shows that inflation slowed last month, mortgage rates could ease a bit. So it's likely that we'll see mortgage rates decrease throughout the remainder of 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.25%, a nine-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: we'll, you'll, Freddie Mac, it's Organizations: of Labor Statistics, Federal Reserve, Zillow Locations: Chevron

☆ Gen Z's Never-Ending Safety Net: Living With Mom and Dad
▼ + stars: | 2024-07-07 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

Despite a strong job market, many Gen Zers are still relying on the bank of Mom and Dad to make ends meet. The young adult has their entire life ahead of them. Some parents might be more willing to provide financial support because they want to feel like a good parent. The young adult has their entire life ahead of them," Bailey said. When India Anderson turned 20 and decided to move in with her boyfriend, her mother cut off most financial support.

Persons: David Nuñez, freeloader —, Zers, Nuñez, frazzled, Nuñez's, Gen Zers, Monica Kirkpatrick Johnson, They're, Zillow, haven't, Kirkpatrick Johnson, Jeffrey Jensen Arnett, Jo Clark, Clark, I'm, Teresa Bailey, There's, Ali Lupo, Lupo, —, doesn't, Bailey, JP Krahel, Cody, Erika Archie, Cody Archie, Archie, Erika, there's, They've, India Anderson, Anderson, She's, Uber Organizations: Netflix, Pew Research Center, Pew, Washington State University, Clark University, Waddell & Associates, Urban Institute, Loyola University Maryland Locations: Tampa , Florida, America, Surrey, England, New York, Texas, Orlando

Mortgage rates have started July a bit higher than they were last month, with 30-year mortgage rates averaging around 6.71% this week, according to Zillow data. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.95% this week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.25% this week, according to Freddie Mac data, which is a nine-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: Danielle Hale, Hale, Freddie Mac Organizations: of Labor Statistics, Labor, Federal Reserve, Zillow, Fed Locations: U.S, Chevron

☆ Warren Buffett paid just $31,500 for his home of nearly 70 years. Read his 8 best quotes about buying a house.
▼ + stars: | 2024-07-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett has lived in the same family home in Omaha for almost 70 years. The billionaire paid just $31,500 for the house, which is now worth about $1.4 million. Here are Buffett's best quotes about buying a home, which he says can be both a great and terrible idea. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett, one of the world's wealthiest people worth almost $130 billion, has lived in the same unassuming house in Omaha for nearly 70 years.

Persons: Warren Buffett, —, Buffett Organizations: Service, Business Locations: Omaha

☆ Inflation will be in focus in the week ahead as stocks attempt to sustain all-time highs
▼ + stars: | 2024-07-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.

Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal

☆ The 10 most expensive places to buy a home in the U.S.—the top 5 are in California
▼ + stars: | 2024-07-05 | by ( Jade Thomas | ) www.cnbc.com time to read: +1 min

Half of the 10 most expensive places to buy a home in the U.S. in 2024 are in California, according to a recent study by SmartAsset. The study, which analyzed Zillow's housing data of the 100 largest metro areas in 2019, 2023 and 2024 found that median home sale prices have increased this year in all of the most expensive metro areas. While the Golden State is home to some of the country's wealthiest zip codes, it is also currently experiencing a housing shortage. What's happening in California is a snapshot of a larger national trend, with home prices now 47% higher than they were at the beginning of 2020. Here are the top 10 most expensive places to buy a home in the United States.

Organizations: National Association of Realtors, Golden State Locations: U.S, California, San Jose, Silicon Valley, Golden, United States

Average 30-year mortgage rates ticked up nine basis points to 6.95% this week, according to Freddie Mac. Forecasters have long been predicting that mortgage rates will soon decrease, but stubbornly high inflation in the first half of the year pushed back those expectations. Mortgage Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Persons: Freddie Mac, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

Mortgage rates increased overall this week, with 30-year mortgage rates ticking up closer to 7%, according to Freddie Mac. This means mortgage rates should go down in the coming months and years. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

This should remove some upward pressure off of mortgage rates and allow them to trend down a bit. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Tick Up (+0.20%)The current average 30-year fixed mortgage rate is 6.73%, up 20 basis points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Rise (+0.17%)The average 15-year mortgage rate is 6.12%, 17 basis points higher than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Increase Slightly (+0.11%)The average 30-year refinance rate is 7.81%, 11 basis points up from last week.

Persons: you'll, It's, refinance Organizations: Investors, Federal Reserve, Zillow, FHA Locations: Chevron

☆ America has a serious ugly home problem
▼ + stars: | 2024-07-02 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Recently she posted a video on her YouTube channel in which she phrased the question more bluntly: "Why are homes so 'ugly' now?" Most people agree that America needs more houses, but nobody seems all that thrilled with the ones being built. Related storiesThe blame for America's architectural nightmare, however, doesn't stop at production builders, rising costs, or local codes. Homes look this way because they're not just places where we live — they're also supposed to help us get rich. As they stare down these rising costs, builders and architects have almost no choice but to streamline or opt for cheaper design elements.

Persons: Bailey McInnes, McInnes, they're, James Wentling, John Burns, Peter Dennehy, They're, Dan Reynolds, Horton, Lennar, Kate Wagner, she's, —, Wagner, Marcia Straub, William Morgan, it's, Queen Anne Organizations: HGTV, YouTube, Facebook, Builders, Bureau of Labor Statistics, National Association of Home Builders, John Burns Research, Consulting, Harvard's, for Housing Studies, Harvard, The Locations: Northern Virginia, America, homebuilding, Providence , Rhode Island

After a lot of uncertainty over when, if ever, mortgage rates will fall, it's starting to look like rates may finally trend down in 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.86% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.16%, a three-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: it's, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

☆ Ryan Serhant wants to capture his bad days on camera and show how luxury real-estate is hard
▼ + stars: | 2024-06-29 | by ( Dan Latu | ) www.businessinsider.com time to read: +6 min

Advertisement"We were showing people what they had never seen before," Serhant, 39, told Business Insider. "The real estate isn't what's exclusive anymore," Serhant explained. Serhant passed down wisdom to new agentsRyan Serhant and his team of agents want to become the #1 real estate firm in New York City in their new Netflix show. "The show is going to be great if it's the most vulnerable real estate show on the planet and the most authentic," he told BI. In the first episode of "Owning Manhattan," Serhant said he wants his eponymous firm, just four years old, to be the No.

Persons: —, Instagram, Ryan Serhant, Serhant, it's, he's, Chloe Tucker Caine, Tricia Lee Organizations: Service, New York, Business, Netflix, Television, YouTube, Benz Locations: New York City, Greenwich, Manhattan, New, Brooklyn, York City, Miami, Greece

Inflation slowed last month according to the Federal Reserve's preferred measure, which means mortgage rates could soon trend down. As inflation slows and the Fed is able to start lowering the federal funds rate, mortgage rates are expected to decrease. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. As inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Fannie Mae Organizations: Federal, Commerce Department, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: April's, Chevron

☆ The average household would need to save for 36 years to afford a typical home in LA. Here's how 50 US markets compare.
▼ + stars: | 2024-06-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

A median-income household must make a $128,000 down payment to comfortably afford a typical US home. It takes about 12 years to save that, rising to 36 years for a down payment in pricey Los Angeles. We've used Zillow data to rank 50 major metro areas by the number of years of saving needed. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Zillow found the typical Pittsburgh home only costs about $217,000, meaning a median-income household could take out a mortgage with zero money down and still afford the monthly payments.

Persons: We've, —, Zillow Organizations: Service, Business Locations: Los Angeles, Pittsburgh

☆ A Gen Zer who moved to Indianapolis, where she pays less than $1,700 in rent, shares the pros of living in 'a big city with small-town charm.'
▼ + stars: | 2024-06-27 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

She also resided in New York City, and she has studied abroad and worked in Italy. Now working and living in Indianapolis, Ball doesn't see herself leaving this Midwest city soon. With a population of over 800,000, Ball finds Indianapolis is "a big city with small-town charm." "There was just something really charming about the city," Ball said. Courtesy of Milan BallShe does miss getting around via subway in New York City and finds it tough not having a car to get around in Indianapolis.

Persons: —, she's, Ball, Zers, Indiana University Lilly, I'm, didn't, Ball's, Milan Organizations: Service, Business, Midwest Ball, Indianapolis, Indiana University, Indiana University Lilly Family School of Philanthropy, Innovation, Public Locations: Indianapolis, Virginia, New York City, Italy, Midwest, New York, Washington, DC, York, Williamsburg, White

☆ Selling a home is expensive, too: Homeowners typically spend nearly $55,000, report finds
▼ + stars: | 2024-06-27 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

It typically costs $54,616 to sell a house in 2024, according to a June 17 report from Clever Real Estate. In May, Clever Real Estate polled 1,014 Americans who sold a home between 2022 and 2024 about their attitudes related to the home-selling process. "Ultimately, [with] many of these fees, there's no harm in trying to negotiate, and that includes real estate commissions," Hamrick said. But the highest expenses an owner will face when selling a home are the real estate agent commission fees, Ahmed said. Sell without a real estate agent: Homeowners could try to sell the house themselves and potentially drop real estate services altogether, said Dunaway-Seale.

Persons: Jaime Dunaway, Seale, they're, that's, Dunaway, Mark Hamrick, Hamrick, Kashif, Ahmed, Daryl Fairweather, Orphe, Sellers, brokerages, Claudia Cobreiro, Cobreiro Organizations: Finance, Wealth, Redfin, CNBC, U.S, The National Association of Realtors, Cobreiro, MLS, Realtors, Homeowners Locations: Bedford , Massachusetts, Coral Gables , Florida, Miami

☆ Here's where U.S. rents are rising — and falling — the fastest
▼ + stars: | 2024-06-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Zumper analyzed median asking rents for apartment listings in the largest 100 U.S. cities by population. Rents have also risen by at least 10% for both one- and two-bedroom apartments in other major metros: Lincoln, Nebraska; Chicago; Buffalo, New York; Madison, Wisconsin; Rochester, New York; and New York City, according to Zumper. What causes rent inflationAt a high level, rent inflation is guided by supply-and-demand dynamics, said Crystal Chen, an analyst who authored the Zumper analysis. Basically, areas with fast-growing rents are seeing demand outstrip the supply of available apartments, while those with falling rents have seen their apartment inventories growing. Rent inflation has fallen substantiallyRent inflation plummeted in the early days of the Covid-19 pandemic.

Persons: Jamie Kelter Davis, Zumper, Crystal Chen, Eric Adams, Fitch, Chen Organizations: Bloomberg, Getty, New, New York City Department of Housing Preservation, Development, Finance, York City Locations: Chicago, U.S, Syracuse , New York, Lincoln , Nebraska, Buffalo , New York, Madison , Wisconsin, Rochester , New York, New York City, Oakland , California, Memphis, Chattanooga , Tennessee, Cincinnati , Ohio, Colorado Springs , Colorado, Irving , Texas, Jacksonville , Florida, Raleigh, Greensboro, Durham , North Carolina, New York, Akron , Ohio, Wichita , Kansas, York

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