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The U.S. multifamily market remains steady, with the average advertised monthly rent for apartments at $1,755 in March, a $5 increase from February. Rents rose 0.4% in the first quarter, with only six of the top 30 metropolitan areas experiencing declines. Notable rent growth occurred in Chicago and Kansas City, both up 3.7% year-over-year. National occupancy rates for multifamily units are stable at...
Monroe County Avg income: $73K Investment income: $222K Avg home value: $957K Collier County Avg income: $75K Investment income: $197K Avg home value: $595K...
Fannie Mae and Freddie Mac are raising the maximum limit on home loans to over $1 million in certain markets where buyers struggle to get financing. This reflects the reality of high home prices in challenging real estate markets, leaving many unable to afford a home. The conforming loan limits have been increased to give buyers a better chance of securing financing. The new limits highlight the fact...
1. Select the right location based on your preferences, considering climate and neighborhood amenities. 2. Assess your budget and financing options, considering mortgage rates, down payments, and closing costs. 3. Be prepared for fluctuating property tax rates and understand the implications for foreign buyers....
Broward County condo sales and dollar volume increased in October, rebounding MoM. Brokers closed 851 condo sales in Broward in October, totaling $277M, ↑ MoM from 820 sales. October sale prices ranged from $67K to $6.7M, with a median price of $240K....
Create a thorough budget considering regional cost variations and set aside 10% for unforeseen expenses. Comprehend Florida's varied building codes, addressing structural safety and unique environmental factors in different regions.Engage local builders for their knowledge of regional challenges and hazards, and choose the ideal location that suits your...
New Richmond, Wisconsin -In the upper Midwest, near Minneapolis -Median home value: $351K Sandpoint, Idaho -Scenic town between ski resort and lake -Attracts remote workers, retirees -Investor interest in holiday rentals -Median home value: $601K...
Mortgage rates are anticipated to ↓ in 2024, potentially leading home prices to also ↓. The current lock-in effect, where homeowners are hesitant to sell due to their low-interest-rate mortgages, may ease as rates decline. A more affordable housing market is expected, with analysts projecting home prices to ↓ ~3% by the end of 2024....