Landlords are offering more sub-six-month leases in response to economic uncertainty. Getty As uncertainty rules in real estate, one segment that has been seeing growth is the market for short-term rentals. Landlords in New York City and across the country are offering more flexible rental options in response to demand from renters facing unclear economic
A realtor, at right, shows prospective buyers a property in Newport Beach, California. Jamie Rector | Bloomberg | Getty Images It’s not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster than expected. Mortgage applications to purchase a home rose
First-time buyers are going to need more support in the months and years ahead to help them onto the … [+] ladder. Getty The impact of COVID-19 on the housing market as a whole, and on the buying power of first-time buyers specifically, cannot be understated. Whilst the reopening of the property industry two weeks
The Annapolis Townhome model at Clarksburg Town Center on April 28, 2020 in Clarksburg Maryland. Benjamin C. Tankersley | The Washington Post | Getty Images In one of the brightest economic readings since the start of the coronavirus pandemic, sales of newly built homes rose nearly 1% in April compared with March, according to the
A Southampton beachfront house available Memorial Day to Labor Day. $500,000. 6,000 sq.ft. with 4 … [+] bedrooms, 4.5 bathrooms on .5 acres plus a pool. Town & Country Real Estate A friend called me the other day to ask what I knew about summer rentals in the Hamptons. I started to look online, and
A For Sale sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images The economic fallout from the coronavirus hit the housing market hard in April. Sales of existing homes fell 17.8% month-to-month, and were 17.2% lower than April 2019, seasonally adjusted, according to the National Association of Realtors.
Giuliana Rancic at home with wrapped in an August & Leo throw blanket. August & Leo Giuliana Rancic is known for many things. Being a top entertainment news personality, breast cancer survivor, mom, and entrepreneur. Now, she’s diving headfirst into the world of furniture and decor, launching a line called August & Leo on HSN.
Ariana Lindquist | Bloomberg | Getty Images Retailers aren’t the only ones struggling to pay the bills. The biggest shopping center in the country, The Mall of America, has missed two months of payments on its $1.4 billion mortgage, a sign of just how much retail real estate owners are reeling during the coronavirus pandemic.
Be sure to understand the implication of mortgage forbearance Getty I have heard disturbing reports that some mortgage borrowers who are able to make their monthly payments have opted to take advantage of the forbearance option offered by lenders — evidently because they view forbearance as a benefit. It is a benefit for borrowers who
A man with a mask on taking a walk at Marina Bay Sands in Singapore’s central business district seen in the background on April 1, 2020. Suhaimi Abdullah | Getty Images The future for office commercial space looks increasingly uncertain, as more and more people work from home and some employers consider making it a
TOPLINE Mortgage delinquency rates nearly doubled and total delinquencies reportedly increased by 1.6 million in April, the largest single-month jump in history, though the majority are covered under Cares Act forbearance programs. CHICAGO, ILLINOIS – APRIL 30: A demonstrator calls on the governor to suspend rent and mortgage … [+] payments to help those who
A foreclosure sign in front of a house in 2007. Getty Images As of this week, 4.75 million homeowners are in government or private sector mortgage forbearance programs, according to Black Knight. That is equivalent to 9% of all mortgages outstanding. New analysis, however, shows a large share of these borrowers initially didn’t need the
A Briarcliff, NY 5-bedroom house with 5,568 square feet on 2.41 acres. Asking Price: $914,222; … [+] Taxes: $55,641 Mark Seiden Real Estate On May 15, Congress passed a $3-trillion stimulus bill called the HEROES Act. Buried inside the bill is a measure that would reinstate the so-called SALT itemized deductions for 2020 and 2021.
Boston Properties CEO Owen Thomas told CNBC on Thursday that working from home is not a long-term replacement for physical offices, arguing many of the coronavirus-related shifts in business will be temporary. “The ability to mentor younger employees, the spontaneous collaboration and creativity that occurs, and also the culture that companies develop, it’s very difficult
A prospective homebuyer takes in the view at a beach front property in Newport Beach, California. Jamie Rector | Bloomberg | Getty Images If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses. Mortgage applications to purchase a home rose 6%
Designed by renowned Seattle, Wash.-based contemporary architect Olson Kundig, the 4,238-square foot … [+] home has spectacular views of the Pacific Ocean. Courtesy of Kukui’ula A stunning hillside home on the grounds of Kukui’ula, a private club located on the tropical island of Kaua’i, is on the market for $6,495,000. Designed by renowned Seattle, Wash.-based
As the moment for New York City to open for real estate draws closer, the brokerage community is … [+] divided over what the re-entry will bring. Getty When can New York agents show property again? And when they can, who will be looking, and at what? As the moment for New York City to
A mall security officer walks while wearing a protective mask during the coronavirus pandemic on May 17, 2020 in Castaic, California. Robin L Marshall | Getty Images The economic effects of the coronavirus outbreak continue to roil real estate markets, but properties owned by real estate investment trusts (REITs) are still getting most of their
Watch rent collections for May in the NYC multifamily market. Ariel Property Advisors As multifamily investors look for data and insights on the industry in the midst of uncertainty, 2020 Q1 data and the effects of the early stages of the pandemic are shedding some light on what to expect. There will be greater clarity
The setting sun reflects off One World Trade Center and the skyline of lower Manhattan in New York City as the moon rises on March 7, 2020 as seen from Jersey City, New Jersey. Gary Hershorn | Getty Images Rental prices in New York City could be heading lower as landlords try to get prospective
SpaceX founder Elon Musk addresses the media (Photo by Philip Pacheco / AFP) (Photo by PHILIP … [+] PACHECO/AFP via Getty Images) AFP via Getty Images It started two weeks ago with a simple tweet from billionaire Elon Musk saying that he intended to ‘own no homes’ as part of his life overhaul in which
Home-buying demand is starting to come back. The number of customers reaching out to real estate agents was 5.5% higher in the week ended May 10 than it was prepandemic, according to new data from Redfin. The real estate firm also said new listings have increased every week for the past month. Also, the number
Daun St. Armand forecasts a change in the luxury market in the wake of the COVID-19 pandemic. CallisonRTKL We’re not the only ones eyeing our homes’ designs while sheltering in place. Also closely examining residential America are architects and designers. Many believe the pandemic’s effects will alter the look and function of tomorrow’s single- and
Labor economist Teresa Ghilarducci began studying retirement in 2008, when the Great Recession was making it impossible for millions of Americans to retire. “The phenomenon of Granny working in McDonald’s really started to ramp up,” said Ghilarducci, who leads the Retirement Equity Lab at The New School in New York. Yet, as bad as it was then,
Many businesses are likely now considering whether some of their operations need to return to the … [+] workspace at all. Getty How might buyer and seller priorities change post-COVID? It’s an interesting question with potentially widespread implications for the housing market as many homeowners and prospective buyers start to revaluate both what they want,
A sign advertising home loan rates for purchase or refinancing at a Bank of America in New York. Scott Mlyn | CNBC The average rate on the popular 30-year fixed mortgage just fell to 3.09%, a record low, according to Mortgage News Daily. A weaker-than-expected read on April’s coronavirus-affected retail sales released Friday contributed to
Getty The Federal Housing Finance Agency, which oversees the government-sponsored mortgage buying companies, Fannie Mae and Freddie Mac, announced today an extension of the federal halt on evictions and foreclosures. The moratorium is now to last until at least June 30. It was poised to expire this Sunday. “During this national health emergency, no one
The heads of major companies are touting the viability of their employees working from home for the long term — or even “forever,” as Twitter CEO Jack Dorsey said recently — raising questions about the future of a post-coronavirus office market. But like other disasters that hit the U.S. office market, such as the 9/11
Buyers and renters in England are now able to take part in viewings and move home as long as they … [+] follow social distancing advice. Getty The U.K. government has today announced their plans for restarting the housing market effective immediately, amending coronavirus regulations and issuing new guidance confirming that private residential buyers and
The coronavirus pandemic has made us all a lot more familiar with our homes. But it has also thrown up a great number of questions over the future of the property market. While global markets were thrown into turmoil in the early days of the outbreak, the property market, broadly speaking, has remained resilient. As