Whitney Minnich Real Estate and Community Updates

Millennials Are Undeterred by Fixer-Uppers January 28, 2019 Young adult home buyers aren’t afraid to buy a home in need of some major TLC. Sixty-seven percent of millennial home shoppers who participated in a recent Clever Real Estate survey of 1,000 U.S. residents in the market for a home said they would put in an offer on a property in need of major repairs. Millennial home buyers are taking a long-term view when buying, the Clever Real Estate survey found. They also tend to value safe neighborhoods and good schools over walkability and short commutes. Young adults also tend to have a fondness for real estate. Eighty-four percent of millennials believe that buying a home remains a core component of the American dream, according to the survey. Furthermore, a 2018 survey from Bank of America found that most millennials prioritize homeownership (72%) over other major life events, like getting married (50%) and having children (44%).   The chief rea...

Home flippers are fleeing the market as their profits shrink Diana Olick |  @DianaOlick Published 2:34 PM ET Thu, 1 Nov 2018   Updated 3:49 PM ET Thu, 1 Nov 2018 A rough combination of higher costs and lower demand is putting a chill on the once red-hot house-flipping market. After the epic housing crash, flippers poured in, buying up distressed properties at bargain prices, fixing them up and flipping them either to residents or to other investors. That continued for years, but now the math isn't working so well, and some flippers are fleeing. The number of home flips, defined as a home bought and sold within the same 12-month period, fell 18 percent nationally in August, compared with August 2017, according to Attom Data Solutions. Flipping volume has been falling annually by double-digit percentages for three of the past six months. "A competitive housing market with just trace amounts of distressed deals available is a challenge for home flippers because th...

New ULI Forecast for Real Estate, Economy Sees Three Years of Continued Strength, with Industry Set for Sustainable Growth in 2015 Through 2017 WASHINGTON (April 8, 2015) – The real estate industry is expected to remain on a sustainable course of solid growth for 2015 through 2017, according to a  new three-year forecas t  from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate. The outlook – the latest installment of the semi-annual ULI Real Estate Consensus Forecast — is based on a survey of 46 of the industry’s top economists and analysts representing 33 of the country’s leading real estate investment, advisory, and research firms and organizations. An  analysis  of the survey findings by ULI leader William Maher, director of North American strategy for LaSalle Investment Management in Baltimore, highlights areas of the industry and overall economy that are generating the most optimism for 2015 through 2017: Net job growth is expec...