By Graham Wood NAR: The president-elect’s proposals go further than current ones, notably over the racial wealth gap and a first-time buyer tax credit. But if he works with a divided Senate, it will force some compromises, making it hard to predict what will happen over the next four years. WASHINGTON – While President-elect Joe Biden likely will make housing policy a higher priority than the Trump administration has, the effectiveness of Biden’s agenda hinges on which party controls the U.S. Senate, Jim Parrott, a housing adviser to former President Barack Obama, said Thursday during the National Association of Realtors®’
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By Justin Becker Lucrative real estate investments change with the times. Rentals, flipping, certain types of commercial properties, REITs and REIGs may be the way to go now. NEW YORK – The real estate industry has seen its ups and downs during the pandemic. However, with historically low interest rates and the demand for more square footage when it comes to residential homes, an increase in online ordering, and a decrease in needed office space, finding the right real estate investments during this time has become a little tricky. Nonetheless, there are still ways to invest in real estate in
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The TikTok app can create short, fun videos that attract new page views for little expense, helping agents interact with more contacts and generate new leads. SAN FRANCISCO – TikTok, the latest social media phenomenon, could help real estate agents generate more than 100,000 page views for new listing videos for free. Videos can give agents a competitive advantage, but producing them takes time and costs money. However, social entertainment tools like TikTok can generate short, fun videos that attract new page views for little expense, enabling agents to interact with more contacts and generate new leads. Twenty-six percent of
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The single living room-dining room-kitchen trend went mainstream more than 10 years ago, but a growing subset of buyers want some walls to define their living spaces. CHICAGO – The open floor plan went mainstream more than a decade ago, and many real estate pros insist it’s not going anywhere. But at the same time, they do acknowledge a growing subgroup of buyers who want more walls to help define living spaces. In an open floor plan, the kitchen and dining room and family room are all in a single wide-open space with little or no separation. Older consumers may
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Lenders often allow homeowners hit by disaster a payment grace period, but they sometimes fail to complete the paperwork and owners find their homes in foreclosure. GAINESVILLE, Fla. – Following a natural disaster such as storms, wildfires, floods or hurricanes, mortgage companies usually step in to help borrowers with damaged homes by allowing them to miss a specified number of mortgage payments. But that help may end up hurting some homeowners. Faye Feazell said that Hurricane Irma struck Gainesville, Fla., in 2017, and her mortgage lender told her that she could skip mortgage payments for up to 90 days. Three
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Stagers say popular home design trends may look stylish to owners but not to buyers. Don’t mix too many metals, for example – and neutral wall colors still work best. CHICAGO – Home staging can show off a home in its best light. Adding simple, updated decor can make a space feel warm and inviting. But stagers say a few popular trends in home design should be avoided when prepping a home for sale: Too many mixed metals: Mixed metals are a hot home trend, such as combining brushed nickel with matte black. It can add dimension and depth to
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1 in 3 home sales go to first-time buyers, and marketing efforts to this group can focus on renters or perhaps couples going through some kind of life transition. NEW YORK – Some 33% of all home sales are to first-time home buyers, who tend to be roughly 32 years old, recently married, and have an annual income of $72,500, according to research. However, national research might not apply perfectly in any specific community. In one metro, for example, first-time home buyers may be somewhat older, might not own cars or have other differences, so it’s important to conduct research.
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Spending on home construction jumped 2.1% – the strongest gain since August – as single-family construction rose 2.7% and apartment building was unchanged. WASHINGTON (AP) – Spending on U.S. construction projects rose to an all-time high in January, helped by strong gains for home construction and government building projects. The Commerce Department said Monday that construction spending increased 1.8% in January, the strongest monthly rise in nearly two years, pushing total spending to a record seasonally adjusted annual rate of $1.37 trillion. Spending on home construction jumped 2.1%, the strongest gain since August. The strength came from single-family home construction
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Three new toll roads in Florida will create jobs and open up areas for new homes and commuters. However, opinions run hot and cold on the issue as Floridians try to figure out the ways roads will benefit and hurt the rural communities they’re designed to help. TALLAHASSEE, Fla. – Three new toll roads in Florida will create jobs. That much is clear – but the rest isn’t when it comes to figuring out how the roads might benefit – or possibly hurt – the rural communities they’re designed to help. Will these roads lead to economic ruin or prosperity?
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