Amazon announced Thursday that it has halted plans to build a second headquarters in Long Island City, N.Y., blaming political and community opposition for its decision.The reversal comes three months after Amazon picked two cities as homes for its HQ2 project—Long Island City and Crystal City, Va.—promising to bring 25,000 new, high-paying jobs to each area. A booming housing market in those areas was expected to follow.Indeed, in the time s
Cooling inflation and slower global economic growth prompted mortgage rates to drift down to the lowest levels in a year, Freddie Mac reports.“While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring home buying season,” says Sam Khater, Freddie Mac’s chief economist.F
Nearly 60 percent of millennial singles say that homeownership makes a potential mate a lot more attractive, according to a new survey conducted by realtor.com®. Women were more likely than men to find homeownership attractive (48 percent versus 43 percent).“Attractiveness is in the eye of the beholder, and this survey data suggests that many beholders find homeownership attractive, perhaps using it as a signal for financial savviness and succ
Mortgage rates can vary across the country. LendingTree, an online loan marketplace, analyzed just how much mortgage rates could vary across state lines.The average offered interest rate for all 50 states is 4.84 percent and the average offered loan amount is $224,297, the study found. But homeowners in California, New Jersey, Washington, and Massachusetts tend to snag the lowest interest rates. The average interest rate in California is 4.74 per
Most markets across the country are still seeing home prices inch up, although at a slower pace than in previous quarters. The national median single-family home price in the fourth quarter of 2018 was $257,600, up 4 percent from a year ago, the National Association of REALTORS® reported Tuesday.Regional BreakdownHere’s how existing-home sales fared across the country in the fourth quarter of 2018:Northeast: Existing-home sales were at an
Tax season is here, and many homeowners may have questions about what they can and can’t write off under the new tax code.One big change: Homeowners who used to write off property taxes and interest paid on their mortgage may no longer be able to entirely. But that doesn’t necessarily mean they’ll pay higher taxes. HouseLogic, the National Association of REALTORS®’ consumer-facing website, offers guidance and worksheets on the chang
After inventory and affordability challenges in 2018, prospective home buyers may have better chances of scoring a property this year. Affordability will remain an issue in some high-priced markets, says realtor.com® Chief Economist Danielle Hale, but overall, the national market is looking brighter for buyers who have stayed on the sidelines. Here’s why.More homes are for sale. For the last few years, a limited number of listings has giv
As the threat of natural disasters increases—from hurricanes in the Gulf to wildfires in California—the real estate industry has learned that many homeowners in hazardous areas don’t have insurance policies that will fully cover the cost to rebuild. Such financial burdens add to affected homeowners' anxiety, while also forcing insurance carriers to re-evaluate the accuracy of their coverage.Homeowners who are underinsured may be more likely
Hackers recently gained access to the personal data of about 54,000 mortgage borrowers on loans originating from Wells Fargo, Citigroup, Capital One, HSBC, and other lenders. While the loans were being acquired by an investment firm, documents with borrowers’ information were apparently exposed online with no password or other protections. Security experts are unsure how much personal data hackers were able to access, and many of the victims ma
A Chicago real estate agent who rallied her community to book dozens of hotel rooms for more than 100 homeless people during last week’s polar vortex received a $50,000 donation from Walmart, which was presented to her on Wednesday’s episode of “The Ellen DeGeneres Show.”Candice Payne of 5th Group Realty & Management, who was invited to the show to speak about her heroic efforts, told Degeneres that she was moved to act partially
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