DID YOU KNOW? In May, the “foreclosure inventory rate,” or the percentage of homes currently in any stage of the foreclosure process, was at its lowest in over 20 years — for the sixth month in a row. Overall delinquencies are also at the lowest since 1999, because of a 50-year low in unemployment, rising home prices and responsible underwriting. (Marketwatch)
DID YOU KNOW? New York City has the most billionaire residents (85) in the USA.
DID YOU KNOW? Bentley sales are up nearly tenfold since 2003, selling 9,560 vehicles in 2018, although demand (not too unlike luxury real estate in many cities) is down from its 2016 peak of 11,300. (CNBC)
DID YOU KNOW? ATTOM Data Solutions 2018 property tax analysis of more than 87 million U.S. single-family homes revealed property taxes in 2018 totaled $304.6 billion, up 4% from $293.4 billion in 2017, an average of $3,498/home, an effective tax rate of 1.16%. The average property taxes of $3,498 for a single-family home in 2018 was up 3% from the 2017 average ($3,399), and the effective property tax rate of 1.16% in 2018 was down from 1.17% in 2017. The highest effective property tax rates were New Jersey (2.25%), Illinois (2.22%), Texas (2.18%), Vermont (2.16%), Connecticut (2.02%), New Hampshire (1.99%), New York (1.86%), Pennsylvania (1.79%), Ohio (1.69%), and Wisconsin (1.58%).
Out of the 219 metropolitan statistical areas analyzed in the report, 55% increased average property taxes above the national average of 3%, including Los Angeles (5%), Dallas-Fort Worth (8%), Washington D.C. (4%), Atlanta (7%), San Francisco (7%), Riverside-San Bernardino (5%), Seattle (14%), Minneapolis (6%), San Diego (5%), and Tampa (4%).
Among 1,408 U.S. counties with 10,000+ single family homes, the highest average property taxes were in Westchester County, NY ($17,392); Rockland County, NY ($12,925); Marin County, CA ($12,242); Essex County, NJ ($12,161); and Bergen County, NJ ($11,771).