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☆ Why Builders Are Renting Out New Houses Instead of Cutting Home Prices
▼ + stars: | 2024-11-13 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Builders, meanwhile, are luring buyers with some perks but are barely budging on prices. That's partly because these companies have another place to turn: the rental market. Opportunistic investors — mostly small and midsize players, who own the vast majority of single-family rentals in the country — are happy to oblige. Builders have also started developing entire communities of single-family homes to be rented out rather than sold, a strategy known as build-for-rent. Their embrace of the rental market says more about the obstacles for buyers than for builders.

Persons: homebuilders, John Burns, Keith Hughes, —, Horton, Don Mullen, they've, Adam Stern, Sean Morgan, Alex Offutt, Ray Sturm, Sturm, Selma Hepp, It's Organizations: John Burns Research, Consulting, Builders, John, Houston, Owners, SFR, Sun, Dallas, Local, Business Purpose, Offutt Locations: Tampa , Florida, Carolinas, Nashville, Horton

☆ How Austin, Texas Cut Home Prices, Built Houses, and Stopped a Crisis
▼ + stars: | 2024-09-25 | by ( James Rodriguez | ) www.businessinsider.com time to read: +13 min

But as other pandemic Zoomtowns continue to see increases in prices and rents, Austin stands alone in its change of fortune. Housing in Austin has been through so many extreme distortions that nobody really knows what "normal" even means anymore. All told, Austin's housing stock has ballooned by more than 76,000 units since 2020, an 8.34% increase that includes single-family homes, condos, and townhomes. Considering the size of the Austin market, moving the stock of homes by nearly 10% is a colossal feat. Related storiesNobody watching the Austin market should be having flashbacks to the Great Recession.

Persons: Austin, homebuyers, homebuilders, Zillow, Elon Musk, Joe Rogan, Homebuyers, Keith Hughes, I'd, That's, Jason Lewris, Lewris, Doreen Sidney, Austin wasn't, Austin's homebuilders, Freddie, Sean Kelly, Rand, Freddie Mac, Jenny Schuetz, homebuilding, Kelly, he's Organizations: Austin, Oracle, Facebook, Google, Elon, Census, Parcl Labs, Federal Reserve, San Antonio —, Austin ., Freddie Mac, Brookings Institution Locations: California, Austin, Real, Texas, Francisco, San Francisco, San Antonio, Boston

☆ These home remodeling projects offer the highest return on investment in history, report finds
▼ + stars: | 2024-05-20 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

And when it comes to the return on investment, some projects now offer the highest return values in history — with a few home upgrades averaging returns of nearly 200% for the first time ever — according to the 2024 Cost vs. Value report from Zonda Media, a housing market research and analytics firm. Garage door replacements offered the highest average return at 194%, followed by upgrading to a steel front door, with a 188% return on investment — both worth nearly double what they were last year, the report found. Curb appeal is keyForget a designer chef's kitchen, the projects offering the greatest returns in resale value are mostly related to curb appeal rather than more glamorous kitchen and bath remodels, according to Zonda's report. In fact, nine out of the top 10 projects with the highest return on investment were exterior improvement projects, the report found. Only three projects on Zonda's list can typically deliver even a 100% return on investment, including replacing the garage doors, upgrading to a steel front door and installing a stone veneer.

Persons: Clay DeKorne, Zonda's, DeKorne, Angelica Ferguson VonDrak, Todd Tomalak, Tomalak Organizations: Zonda Media, Finance, Photodisc, Getty Locations: Rhinebeck , New York

Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021. However, the machine broke for the same reason again a few months later, and then again shortly after that. After the mechanic's third visit, Rathner said he told her, "You need to stop calling me and just buy a new dryer. watch nowHomeowners spend about 34% more on appliances than they did 15 years ago, "above and beyond inflation," Tomalak said. "Homeowners are purchasing appliances with more bells and whistles, but which become obsolete sooner and have more aspects to repair versus appliances years ago," he said.

Persons: Joe Raedle, Sara Rathner didn't, Rathner, Todd Tomalak, Tomalak, Brian Laung Aoaeh, Aoaeh Organizations: Getty, Finance, Zonda Media, Refashiond Ventures Locations: Miami , Florida, Richmond , Virginia, New York

The housing market is still surprisingly tight despite mortgage rates at 20-year highs. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyWhat the heck is going on in the housing market? "The housing market is weird right now," LendingTree's senior economist Jacob Channel told Insider. A surprise increase in new-home salesPerhaps the most surprising development in the housing market has come in the form of recent increases in new-home sales and housing starts. "But housing supply has decreased significantly, and that's also because it's become more costly to build and harder to get materials.

Persons: aren't, —, Jacob Channel, — they're, Nadia Evangelou, Evangelou, Ali Wolf, Wolf, that's, it's Organizations: Service, Federal Reserve, National Association of Realtors Locations: Zonda

☆ These home improvement projects pay off most — major kitchen and bath remodelings don't make the cut
▼ + stars: | 2023-05-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowMost homeowners are planning to remodel at some point down the road, but not everyone will get their money's worth in improved home value. Of all home improvement projects, the most popular are sparkling bathroom overhauls, according to newly released data from the Contractor Growth Network, followed by big-ticket kitchen and basement renovations. The projects offering the greatest returns in resale value are not new kitchens and baths, but rather projects related to a home's curb appeal. A minor kitchen remodeling — such as painting and updating the backsplash — did provide high returns, but major kitchen and bathroom renovations did not, the Zonda survey found. The average homeowner shelled out $3,890 on renovations and remodeling in the past year alone, the report found.

Persons: Todd Tomalak, Tomalak, They'll, Sophia Bera Daigle Organizations: Finance, Zonda Media, HGTV, CNBC, Homeowners, Federal Reserve, Real, Gen Locations: Austin , Texas

☆ Ready to remodel? Here are the home projects that will get you the best return on your investment
▼ + stars: | 2023-03-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

The average homeowner shelled out $3,890 on renovations and remodeling in the past year alone, the report found. In some cases, they may get that money back when it's time to sell, but not all home renovations deliver the same return on investment. Overall, homeowners are getting just a 60% return on their renovation investments, according to the recently released 2023 Cost vs. Value report from Zonda Media, a housing market research and analytics firm. A minor kitchen remodel — like painting and updating the backsplash — did provide high returns, but major kitchen and bathroom remodels did not, the Zonda survey found. Even though both construction and financing costs are up, this decade could be "the golden age of remodeling," Tomalak said.

☆ An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
▼ + stars: | 2023-03-08 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Wealthy car collectors spent a record amount at the classic-car auctions at Amelia Island over the weekend, suggesting the market remains strong despite recession fears and falling stocks. Total sales at the Amelia Island auction reached $178.4 million — a record for the event, topping the 2016 record of $140 million, according to classic-car insurance and events company Hagerty. Over 390 cars sold, at an average price of $455,293, up from $435,939. The most expensive car sold at Amelia Island was a 1962 Ferrari 250 GT SWB California Spider, sold at Gooding & Company for $18 million — setting a record for a car sold at the Amelia Island auctions. Here are the top 10 cars sold by value at the Amelia Island auctions, according to Hagerty.

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☆ Homebuyers are losing out on homes and big deposits as affordability escapes them
▼ + stars: | 2022-12-12 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Many people who put thousands down on new homes canceled their contracts and lost money, per NPR. They told NPR they didn't have a choice because the payments had grown since rates rose. That's because home builders are feeling the heat too — Paul Schwinghammer, president of the Indiana Builders Association, told NPR that many home builders can't afford to give back the cash. "The sales guy, he always tells us we're going to lose the deposit if we don't buy the house," Paulo Echeverry, one such person, told NPR. Today, with the average 30-year mortgage rate at 6.33%, according to Freddie Mac, the same home would be $1,475 per month, according to Insider's mortgage calculator, a 45% increase in monthly payments.

☆ Bitcoin jumps to a 2-week high of $17,000, but crypto experts say don't cheer the rally as FTX contagion is far from contained
▼ + stars: | 2022-11-30 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Bitcoin hit $17,000 on Wednesday, trading at a two-week high. FTX, the once-$32 billion digital asset empire started by Sam Bankman-Fried, swiftly collapsed earlier this month and is raising contagion fears. And industry giant Genesis is organizing restructuring lawyers to prevent the crypto brokerage from going bankrupt, Bloomberg reported Tuesday. After losing two-thirds of its value since November 2021, the crypto industry continues to take hits — and despite the current bump in prices, the blows aren't done yet. Franzen see headwinds across the board for asset prices, with crypto looking particularly weak given the contagion events that have occurred.

☆ Pandemic hotspots like Phoenix and Denver hit their housing market peak earlier this year and there's more evidence than ever that they're descending back to earth
▼ + stars: | 2022-11-29 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Considering sales alone, these cities were among those that saw the most dramatic declines, according to data technology company Zonda. "There are many forces working against the housing market right now," Zonda Chief Economist Ali Wolf said in a report last week. By late spring, the markets were feeling the pain. In both Austin and Phoenix, home prices are rising at a pace 23% slower than they were last year, the report shows. Since late Spring, home prices in Phoenix have dropped 6.7% and in Austin, prices have dropped by over 10% since the end of May.

☆ Lumber prices have defied a cooling housing market to climb 26% in October, but surging mortgage rates will keep a lid on further upside
▼ + stars: | 2022-10-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Lumber prices have rallied 26% so far in October, but further gains may be limited as the housing market slows down. "At 7% interest rates, I wouldn't expect lumber to do much for a while," MaterialsXChange's Ashley Boeckholt said. In tandem with the Federal Reserve's aggressive interest rate hikes that started in March of this year, mortgage rates have soared. That's good news for homebuilders, as long as demand returns to the housing market, but one economist is skeptical. And that plays right into Boeckholt's view of a lumber market that is likely to flatline from here.

☆ Pentru ce a rămas Leo Messi la Barcelona: cum arată casa fabuloasă în care trăiește familia starului de pe Camp Nou și ce hotel uluitor a cumpărat
▼ + stars: | 2020-11-12 | by ( ) www.ziarulnational.md time to read: +3 min

Leo Messi duce o viață de lux la Barcelona, unde are o vilă de 6 milioane de euro, un hotel de 30 de milioane de euro și o colecție de mașini năucitoare. Starul argentinian are un trai de nabab în Catalunia, pe care a fost la un pas să îl lase în urmă, în momentul în care a vrut să plece de pe Camp Nou. La doar 20 de km de Camp Nou, casa lui Messi are un teren de fotbal, o piscină, o sala de forță și un teren de joacă pentru cei trei copii ai vedetei catalane. La fel ca rivalul său pentru trofeele din fotbal, Cristiano Ronaldo, și Messi a devenit proprietar de hotel și a cumpărat unul de 30 de milioane de euro, în orașul Sitges, la 35 de km de centrul Barcelonei. Messi a fost văzut de asemenea în timp ce conducea un bolid Ferrari F43 Spider, care valorează 190.000 de euro.

Persons: Leo Messi, Ivan Rakitic, Messi, Luis Suarez, Philippe Coutinho, Cristiano Ronaldo Organizations: Nou, Barcelonei, Maserati, Ferrari Locations: Barcelona, exclusivistă Castelldefels, Manchester, Londra, Paris, Milano, Sitges, Mediterane

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