REALTOR MAGAZINE By: Barbara Ballinger
Whether you use “workforce,” “attainable” or another term for it, housing that’s affordable to essential workers remains in short supply in many communities.
For years, the term “workforce housing” has defined a subset of affordable housing for those who earn between 60% and 120% of an area’s median income. Now, the term is losing favor.
Some feel it suggests that those who earn less than 60% of their AMI aren’t part of their area’s workforce. “The phrase has an unfair, exclusive characterization,” says Michael Liu, senior partner and design principal for The Architectural Team (TAT).
Miriam Axel-Lute, CEO and editor-in-chief of Shelterforce, a publication focused on...
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By Aarthi Swaminathan
The numbers: U.S. pending-home sales fell in May, the National Association of Realtors said on Thursday but the housing market is still showing signs of being in recovery mode.
Demand for homes is still strong, despite mortgage rates hovering near 7%, but buyers are finding few properties for-sale to choose from as homeowners hold out on selling.
The shortage in housing inventory has become so dire that it’s pushed pending home sales down in the spring, which is generally the peak season for home-buying.
Sales fell by 2.7% from the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR).
The figure fell short of...
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MARKETWATCH | By Taylor Getler
Overwhelmingly, home buyers view finding the right home as the hardest part of the buying process. There’s so much to consider: What can I afford? How much space do I need? And the most harrowing question of all — what am I willing to give up?
This question is even more loaded for LGBTQ+ buyers, who may face the added pressure of evaluating a new community for safety and comfort.
Social attitudes have dramatically shifted from the days where queer and transgender buyers were concentrated in just one or two neighborhoods, points out Barbara Stone, a Realtor in Dallas, Texas. Today, the community is made up...
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By Aarthi Swaminathan
The numbers: Home prices rose in March as sellers held out on listing their homes, constraining supply.
Despite elevated mortgage rates, the S&P CoreLogic Case-Shiller 20-city home-price index rose 0.5% in March, as compared with the previous month.
Home prices were strongest in the Southeast, while prices in the West continued to drag. Though buyer demand has outpaced supply in March, surging mortgage rates may dampen home sales. The rate for the 30-year mortgage in May is over 7%, according to Mortgage News Daily.
Year-over-year appreciation was down 1.1%, a dip after home prices rose 0.4% in February. The 20-city index peaked in June 2022.
A broader measure...
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The Spruce|By TAI MASSIMILIAN
Have you ever cleaned every inch of a room only to come back 10 minutes later and see a fine layer of dust settled everywhere? No, it's not your ineffective cleaning skills—the most likely culprit? Your ceiling fan. Ceiling fans are a great, low-cost way to keep your home cool during the summer months, but if they are not cleaned regularly, they can ruin all your hard work.
Picture this: your room is pristine and smelling fresh right after a good deep clean. You believe you covered every inch, but then, you switch on your ceiling fan, and the dust monster returns. If you are...
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There was a point, not too long ago, when buying a house was fairly straightforward: You’d schedule some tours, make an offer, and boom, you’re in the house before you know it.🏡
Today, though, the housing market is a very different animal—fast, ferocious, and ever-changing. In such an environment, it’s no longer a given that all homebuyers will easily find a house and seal the deal. And even more surprisingly, those lucky folks who do succeed aren’t just sitting on piles of cash. On the contrary, real estate agents and other experts we spoke to say that successful homebuyers today simply possess a particular mindset and behaviors that...
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One of the biggest missteps sellers make is pricing their home too high.
Starting too high can cause a downward spiral that looks a little like this:
⬇️ Buyers avoid setting up tours of your property
⬇️ Your home sits on the market for weeks with little to no activity
⬇️ Eventually, you’re forced to drop your price in desperation
Fortunately, you can avoid this scenario in three easy steps.
Contact us for a free home value assessment!
📲 415-302-3198
📩 jenn@jennpfeiffer.com...
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