Many homeowners faced higher property tax bills in 2017. Property taxes levied on single-family homes in 2017 totaled $293.4 billion, up 6 percent from 2016.The average property tax on a single-family home in 2017 was $3,399 per home at an effective tax rate of 1.17 percent, according to ATTOM Data Solutions, a real estate data firm, from its analysis of more than 86 million U.S. single-family homes.But some places saw much higher rates than that
Owners love their homes so much that they are commissioning high-priced miniature versions of them to display. How high-priced? Sometimes they pay thousands for these replicas, Bloomberg reports.The miniature homes are small enough to fit on a tabletop and are known for their attention to detail reproducing the home’s architectural features.Lisa Macpherson, a veteran marketing exec, recalls two years ago giving her boyfriend a miniature versio
Do-it-yourself home improvement jobs are popular, but do most homeowners have the knowledge to confidently handle such chores? A new survey suggests millennials may be the most willing, but they’re most likely to lack the how-to knowledge.Porch.com surveyed respondents from each generation to assess their handiness around the house and what repairs they’ve done. They also quizzed them on basic home maintenance knowledge. They analyzed more
Multiple listing consortium MLS RoundTable announced today that it will move toward creating a consolidated backend, combining feeds, eliminating RETS servers, and other changes.The group counts more than 300,000 real estate professionals under its service umbrella, with Bright MLS on the East Coast, CRMLS in California, CarolinaMLS in the Charlotte area, MLS PIN in Massachusetts, Chicagoland’s MRED, NorthstarMLS representing Minnesota and Wisc
A shift in consumer shopping patterns toward online marketplaces continues to hit the retail sector and its real estate market hard. The vacancy rate for large U.S. shopping malls rose to 8.4 percent in the first quarter of 2018, the highest since the fourth quarter of 2012, according to new study from real estate data firm Reis Inc. For neighborhood and community shopping centers, Reis found that 41 of the 77 areas they examined saw vacancy incr
A homeowner’s personality can have a big influence on their behavior when it comes to home improvement projects, according to a new survey by the Home Projects Council, a group of home improvement experts that aims to help homeowners improve their property values.The Home Projects Council identified the following five home improvement personality types: The Sensible Improver, the Project Planner, the Reliable Renovator, the Visionary, and the
Homeowners are getting richer, thanks to rising home values. The amount of equity that homeowners can tap into is now at the highest level on record, according to Black Knight Financial Services, a mortgage and finance industry solution provider.The amount a borrower can take out of a home—while still leaving 20 percent in it—increased by a collective $735 billion during 2017. That is the largest annual increase by dollar value on record, acc
How active listening creates strong relationshipsTrust is the foundation of any relationship, and when you’re in a relationship-based business like real estate, building trust is essential to your success. When your clients trust you, they’ll refer you to their family and friends. While there are many ways to build trust with a client, one of the best ways is to practice “active listening.” Here’s why:1. You’ll show your clients you r
Community water systems must test and monitor drinking water supplies to ensure safe, clean and good-tasting water. But what happens once water hits neighborhoods and homes?The answer: It varies. Which is why homesellers, especially those in older homes, should test their water to ensure they support clean, healthy water. And their listing agents should support them, because home water quality issues can complicate a sale.The water quality tests
The typical spring home buyer this year is on the hunt for a three-bedroom, two-bathroom house with a garage and updated kitchen, according to a new realtor.com® survey of more than 1,000 home shoppers. Forty-four percent of respondents say they want a three-bedroom home, and 93 percent say they want a home with at least two bathrooms. But the garage is becoming increasingly important to home shoppers, too, with 27 percent rating it as one of th
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