DID YOU KNOW? A recent Realtor.com survey found 50% of today’s home shoppers want to purchase a property for under $288,000, 9.1%, or $27,000, below the median price of homes currently on the market. Roughly 94,000 homes priced between $100,000 and $340,000 would need to be put up for sale to achieve equilibrium. However, that would represent a 15% increase in the number of listings in this price range – homes priced above $750,000 is currently where inventory is growing the most, and even then there are only 11% more homes for sale in that price tier. (Marketwatch)
DID YOU KNOW? Amazon turns 25 years old today. Can you imagine a world without the internet and Amazon? 25 years ago only 0.5% of the world was on the internet.
DID YOU KNOW? National home prices increased 3.6% year over year in May 2019 and are forecast to increase 5.6% from May 2019 to May 2020, according to the latest CoreLogic Home Price Index (HPI®) Report.
DID YOU KNOW? The VA home loan guarantee program encourages private lenders to offer favorable home loan terms to qualified veterans without requiring a down payment. It has helped raise veteran homeownership rates to over 75% – much higher than the national average. A new law was signed last week eliminating the cap on home loans issued by the Department of Veterans Affairs.
DID YOU KNOW? The 2019 hurricane season begins Saturday, and millions of home across the Atlantic and Gulf Coasts are at risk of being damaged by storm surge from a tropical cyclone. More than 7.3 million single- and multi-family homes are located in areas along the Gulf and Atlantic Coasts that could be affected by storm surge if a hurricane or tropical storm were to hit. Altogether, it would cost an estimated $1.8 trillion to rebuild these properties. The Atlantic Coast is at a higher risk than the Gulf Coast with 57% of the total number of homes at risk of storm surge damage. Florida has more than 2.9 million homes that are located in areas prone to storm surge damage, more than any other state. Louisiana is second, followed by New York and Texas.
DID YOU KNOW? The former Aaron Spelling Mansion in the Holmby Hills area of Beverly Hills/Los Angeles which made the 'gift-wrapping' room famous, has re-sold for a record $120 million. The 56,000sf mansion had been extensively renovated.
DID YOU KNOW? The wealthiest 0.1% and 1% of households now own about 17% and 50% of all household equities, respectively, up from 13% and 39% in the late 1980's. (Marketwatch)