U.S. households had 8.8% less to spend in 2022 (after taxes) than they did in 2021 due in part to 2021’s pandemic checks and expiring tax credits, such as some for childcare. WASHINGTON – Real median household income after taxes fell 8.8% to $64,240 from 2021 to 2022, according to a report from the U.S. … Read more
Independent businesses aren’t quite as optimistic about the next six months, and many hope to maximize profits now to prepare for any possible downturn. WASHINGTON – The National Federation of Independent Businesses’ (NFIB) Small Business Optimism Index decreased 0.6 of a point in August to 91.3, the 20th consecutive month below the 49-year average of … Read more
Aug. report: Rather than lower monthly rents that remain within $2 of their all-time high, more landlords are offering perks, such as a free month or two. SEATTLE – The median U.S. asking rent in August was $2,052, just $2 below the record high set a year earlier, according to a Redfin report. It’s up … Read more
MIAMI – After storm surge from Hurricane Idalia flooded homes in Tampa Bay and Florida’s Big Bend region, state officials are asking homeowners to tap into a federal program to help pay to elevate homes. “It is one of the best programs that we have in our toolkit,” Division of Emergency Management Director Kevin Guthrie … Read more
It’s almost mandatory to answer a negative review, but it’s almost as important to thank positive reviewers to build an audience and encourage more comments. NEW YORK – It’s important for real estate professionals to respond to all reviews, both positive and negative. The latter give agents a chance to address concerns that may impact … Read more
Agents should think about their focus or niche market, seek their mentors’ advice, consider their marketing budget and set specific, measurable goals. NORWALK, Conn. – Now is the time for real estate agents to update their business plan for the next quarter and the coming year. Questions that agents should ask themselves include, “Have I … Read more
MBA: Home loan applications fell 2.1% last week to the lowest level in 28 years, as low housing inventory and higher mortgage rates sidelined would-be buyers. LOS ANGELES (AP) – U.S. home loan applications are the lowest in decades as evidence mount that rising mortgage rates and home prices are shutting out many aspiring homeowners. … Read more
CONYERS, Ga. – They’re young, they’ve got money, and they’re on the move. A recent analysis by SmartAsset, which examined IRS data from 2021, found that New York and California lost the most residents aged 26 to 35 with annual incomes of at least $200,000. There are likely many reasons these folks are relocating, not the least of which is cheaper living. … Read more
After Idalia, Fitch Ratings warns about long-term effects of property-insurance problems in Fla. and California, citing rising costs and reduced availability. TALLAHASSEE, Fla. – As Florida recovers from Hurricane Idalia, Fitch Ratings this week warned about long-term effects of property-insurance problems in Florida and California. “Rising premiums and reduced availability of homeowners’ property insurance could … Read more
However, the 30-year fixed-rate mortgage remains near the 22-year high it hit three weeks ago. Last week, it was 7.18%. LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell again this week but remains near the 22-year high it hit three weeks ago, offering little relief for house hunters facing persistently high prices … Read more
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