Tag Archives: income

Graphs, more graphs, and igloos: Housing news 9.19.16

Redefy Real Estate housing news 091916 igloo via daily mail
Ooh yeah, doesn’t that look inviting? Not sure it’s to code… Image: Airbnb/Daily Mail

This week in housing news, lots of graphs tell the housing market story, open-house goers show their cards, mortgage rates inch up, and a homeowner builds an igloo rental.

Continue reading Graphs, more graphs, and igloos: Housing news 9.19.16

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Homebuyer confidence at an all-time high

Redefy Real Estate Fannie Mae HPSI

Fannie Mae’s monthly US Home Purchase Sentiment Index™ (HPSI) increased 1.6 points from the previous month and 1 point from the previous year to 85.3 in May. That’s an all-time high for the survey of homeowners and renters. Continue reading Homebuyer confidence at an all-time high

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Top 25 Cities to Invest in a Rental Property

Redefy Real Estate Top 25 Cities Rental Property
Lexington, Kentucky, makes the list with affordable properties that generated increased rental income in Q1 2016. Photo: Zillow.

Real estate prices are rising across the country. Finding that home to turn into a rental property may have you looking outside your city. RentRange®, a single-family rental market data company, released a study identifying the top 25 cities in America to invest in rental homes.

The study analyzed the average rental rate increase and average gross yield (income return from an investment prior to operating costs) for single-family homes for the first quarter of 2016 (compared to Q1 of 2015). Data was collected on approximately 250,000 homes; sources include multiple listing services, property managers, landlords and listing web sites.

Continue reading Top 25 Cities to Invest in a Rental Property

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More Millennials Buy the ‘Burbs

Redefy More Millennials Buy the Burbs
Suburbs outside Dallas, TX. Photo: Andreas Praefcke, Wikimedia Commons.

As Millenials “grow up”, the appeal of the suburbs is also growing.

The Pew Research Center, a think tank organization, defines “adult Millennials” as those who are 20 to 35 years old (born 1981–1996).  A recent National Association of Realtors® (NAR) survey showed that just 17 percent purchased a home in an urban or city center area.

A whopping 48 percent of  Millennials surveyed cited the desire to own a home as a reason for looking in the suburbs. Rising rents and home prices are pushing these young professionals farther from the city. Low inventory and fewer building projects of affordable housing in urban corridors has also contributed to the exodus, says CNBC’s Realty Check.

Millennials may start out renting in trendy urban areas, but the suburbs have an appeal they can’t deny. “Even if an urban setting is where they’d like to buy their first home, the need for more space at an affordable price is for the most part pushing their search further out,” said NAR chief economist Lawrence Yun.

While Baby Boomers and Gen X’ers complained of credit card debt preventing down-payment savings, younger Millennials report high student loan debt as the cause. Edvisors reported that 2015 grads will be in debt a little over $35,000. Add to that their low median incomes (entry-level) ranging from $18,000 to $43,000 (by state), according to Business Insider.

Redefy More Millennials Buy the Burbs
Young Millennials saddled with low incomes and high student loan debt, struggle to find affordable housing.

This debt and student loan combo is resulting in an average of 6 years to save for a down payment. The average home purchase age is 30, with an median income of $77,400 (and still servicing student loan debt). Millennials with families cite the same reasons previous generations chose the suburbs: larger homes, land (bring on the chickens!), good schools and amenities.

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*Buyer co-op may apply

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10 Benefits of Being a Redefy Real Estate Agent

The real estate market can be lucrative, but the way traditional brokerages operate, it may take a new agent years to make consistent income and build a decent book of business.

The Redefy Real Estate flat fee, full service model is gaining popularity with agents because we set up agents to succeed from the start. Could you benefit from being a Redefy Agent?

Redefy agent benefits

We asked our agents what they like about working with Redefy. Here’s what they said:

Continue reading 10 Benefits of Being a Redefy Real Estate Agent

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