Homes with great transit access are extremely rare in U.S. cities. Less than one percent of homes that are listed for sale today are considered to be in a rider’s paradise (Transit Score of 90 and above). Yet in a survey of more than 1,300 people who bought a home last year, more than one in five said they wish they had paid more attention to the length of their commute from their new homes.To estimate how much transit access is worth when buying or selling a home, Redfin looked at the sale prices and Transit Score ratings of more than one million homes sold between January 2014 and April 2016 across 14 major metro areas.Here are the price premiums of one point of Transit Score on a home, grouped by metro area.
On average, across the 14 metros analyzed, one Transit Score point can increase the price of a home by $2,040. But the price premium varies widely from metro to metro. One point of Transit Score in Atlanta bumps up the price of a home over one full percentage point, or $1,901.
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Millennials in Ohio are getting the most affordable mortgages, with Toledo, Akron, Lakewood and Dayton claiming four of the top 10 cities with the lowest average mortgage amounts for the age group, according to LendingTree. California, however, is on the opposite end of the spectrum, with four of the 10 cities with the highest average mortgage amounts: San Francisco, San Jose, Los Angeles and San Diego.If you're considering buying a new home — regardless of where you live or how old you are — it's important to shore up your credit before applying for a mortgage. That's because it's going to play a major role in whether you can actually get a mortgage and what kind of rates you'll end up paying. You'll want to clean up your credit if necessary and make sure there aren't any errors weighing down your scores. If you spot them, here's how to address any errors that you may find.Now, without further ado, here are the top 25 cities where millennials are buying homes.
Renting might be ideal for people who don't want to be tied down or deal with costly home repairs. Although renting has its advantages, there's no escaping the fact that rent never ends and owning is sometimes cheaper than renting.
Owning a home also presents an opportunity to earn equity and write off mortgage interest. But even considering these financial rewards, the process of buying a home is pricey. There are costs before, during and after a purchase. And if you don't prepare, you'll get more than you bargained for.
This isn't meant to scare or discourage you from the homebuying process. However, before you commit to one of the largest financial decisions of your life, taking these smart steps can save you thousands when buying a home.
Curb appeal might not be at the tiptop of your home-buying wish list, but maybe it should be. Attractive landscaping and a welcoming exterior can draw in buyers like you — but also increase your resale value when you’re ready to move on. The good news is that great curb appeal is available at every price point. We’ve found homes for sale under $200K across the country, from Pittsburgh, PA, to Sahuarita, AZ. And they all have plenty of presence at an affordable price.
Boutiques, eclectic coffee shops, restaurants, and yoga studios occupy West North Avenue, a short walk from this adorable ranch home. The sweet two-bedroom, one-bathroom home has a gorgeous front yard. Visitors will be drawn in by the manicured boxwoods that line the sidewalk, archway, and climbing vine. Inside, hardwood floors, French doors, and crown molding add to the home’s cottagelike feel. But the most notable feature is in the backyard. There, you’ll find a private, fenced lawn with a patio that’s made for spring entertaining.
Home inventory has dropped for eight consecutive quarters, making it harder to find a home, according to Trulia’s research. “In 2017, homebuyers are up against a very competitive market, where there are fewer homes for sale that cost more than they did last year,” says Trulia Senior Economist Cheryl Young. “The Trulia Inventory and Price Watch found that housing inventory hit its lowest level on record, having fallen by 5.1% from a year ago.”
Hit hardest? First-time homebuyers. There’s a larger inventory of trade-up homes and luxury homes than starter homes. As prices rise, people who might have been looking for a luxury home may now be in the trade-up market. Those who would have been in the trade-up market are buying starter homes or hanging on to the homes they already have. This means first-time buyers have to put in extra effort to land a home.
Understanding the current real estate market can keep you from being blindsided. “Short supply is the dominant issue this spring,” says Bruce Ailion, an Atlanta, GA, real estate agent and attorney. “Homes that are priced at market and are in attractive condition sell in days.” Act quickly when you find something you like, and be flexible with seller requests, he advises — two tactics that can help you buy a home in a competitive market.
CASUAL ESTATE LIVING WITH REFINED STYLING! You're not buying a home you are buying a peaceful lifestyle on over 5.5 acres. This magnificent Pine Ridge home delivers a spacious, well thought out plan with 3 Bedrooms, 3 baths, along with a den that could be a 4th bedroom.
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