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Yahoo
3 days ago
- Business
- Yahoo
I'm a Real Estate Expert: These 3 Types of Apartments Are Easiest To Sell
If you've ever tried to sell an apartment, you know it's not always as simple as putting up a 'For Sale' sign and waiting for the offers to roll in. Some places fly off the market, while others linger for months with barely a nibble. Be Aware: Try This: So what gives? Certain types of apartments are much easier to sell than others — and if you're lucky enough to own one, you might have a major advantage. GOBankingRates spoke with Jeff Goodman, licensed real estate agent at Brown Harris Stevens, and Daniel Blake, real estate expert and manager at Clever Real Estate, to discuss the types of apartments that are easiest to sell. 'Buyers today want apartments that not only fit their budget but also fit their lifestyle — and that's where location, layout and building perks come into play,' said Goodman. Here are some other factors that come into play. According to Blake, the apartments that are most readily resold are typically one- or two-bedroom, clean apartments in the highest-demand neighborhoods in cities like New York, San Francisco or Chicago. These units attract a broad range of buyers — especially first-time homebuyers, young professionals and investors looking for rental income. 'For instance, in Manhattan, a recently upgraded one-bedroom below $800,000 in a neighborhood like the Upper East Side or Midtown will get several offers within days, provided its proximity to subway lines, supermarkets and greenbelt area,' Blake explained. Folks aren't only drawn by the price level but also by city convenience, as well as the potential for appreciation or rental return. Goodman agreed — because they offer both value and easy access to neighborhood essentials, he said these apartments appeal to everyone from new buyers to small families and long-term investors. Read Next: Spaces that allow buyers to easily customize or carve out work-from-home areas have become particularly attractive in the post-COVID-19 pandemic market, Goodman said. Additionally, buildings offering modern amenities like package rooms, fitness centers and bike storage create a competitive edge. On the flip side, listings with clunky floor plans, tired finishes or too many building rules tend to linger. 'Sellers who want to move their property quickly should focus on what today's buyers actually value — and set a price that aligns with current demand,' Goodman said. According to Blake, smaller apartments with lower monthly HOA fees — say, under $400 per month — and reasonable property taxes tend to appeal to buyers who are conscious of monthly carrying costs. He's seen many buyers pass on older units with high maintenance costs in favor of more efficient units in newer buildings, even if the square footage is slightly less. 'In Los Angeles or Miami, for instance, the first to be cut are the units below 1,000 square feet in newer developments with decent amenities and low costs,' he explained. More From GOBankingRates 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives 10 Cars That Outlast the Average Vehicle This article originally appeared on I'm a Real Estate Expert: These 3 Types of Apartments Are Easiest To Sell Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Americans Are Worried About These 3 Aspects of the Economy — Should They Be?
Inflation continues to weigh heavily on Americans' minds, coming in at or near the top among economic worries in recent surveys. Whether it merits that level of worry is open for debate. Inflation topped a recent YouGov/Economist poll on Americans' biggest concerns, not just for the economy but overall. In a Clever Real Estate survey on consumer sentiment, 94% of Americans listed inflation as a top economic worry. Be Aware: Read Next: While high prices — or at least prices that feel high — continue to strain budgets, not all economists believe that level of concern is warranted. Robert R. Johnson, a professor of finance at Creighton University's Heider College of Business, advises turning that particular worry meter down for now and seeing how the Trump administration's economic proposals play out. 'Americans should not fear inflation currently,' Johnson said. 'But given the tax cuts advocated by the Trump administration, inflation could be a significant problem longer term. The budget deficit will rise dramatically if Trump's tax cuts are enacted. Additionally, inflation will be stoked if significant tariffs are in place for any length of time.' GOBankingRates breaks down the larger worries around the U.S. economy, and whether Americans should be on high alert or not. Price increases have cooled compared to spikes seen in recent years, though many costs are still higher than they were before the surge. As measured by the Consumer Price Index, inflation rose 2.3% over the 12-month period that ended in April. That's actually the lowest increase for the all-items index since February of 2021. It's also down from the 2.4% increase for the 12-month period that ended in March. Belinda Román, an associate professor of economics at St. Mary's University in San Antonio, Texas, noted that some level of inflation is always expected, and 2.3% is close to levels targeted by Federal Reserve. Nevertheless many of us have come to define inflation as prices feeling too high, rather than prices increasing significantly. 'A lot of the economy is perception,' Román said. 'People may think inflation has run away, when it hasn't really.' 'We notice it at certain times of year,' she added, citing increasing gas prices as summer draws closer. Try This: The only item listed more often than inflation in Clever Real Estate's survey of economic worries? The rising cost of all types of insurance. A whopping 95% of respondents listed increasing insurance costs among their top economic concerns. Homeowners' insurance rates surged by 24% between 2021 and 2024, according to a report from the Consumer Federation of America. These increases haven't been limited to disaster-prone regions, with rates climbing nationwide due to inflation and higher repair costs. That said, a recent spate of disasters is having a widespread impact. 'This is putting a lot of pressure on insurers,' Román said. 'Even if it's not happening where you are, it's reverberating throughout the country.' Auto insurance has also seen sharp increases, with premiums up 0.6% in April and 6.4 over the last twelve months ending in April, based on the Consumer Price Index. 'There is no magic bullet to control these costs,' Johnson said. 'The rising cost of insurance is certainly changing the attractiveness of certain housing markets, particularly for retirees.' Cuts proposed by the Trump administration were also prominent in Clever Real Estate's survey on top economic worries. Among those figures: Only about a third of respondents supported recent mass layoffs at many federal agencies, with 82% expressing worry about federal spending cuts. Three quarters of those surveyed said they would feel an impact on themselves or their families if cuts reduced assistance programs like Social Security, Medicaid, food stamps, and benefits for veterans. 'There is a great deal of uncertainty with respect to federal government spending, particularly programs like Medicaid,' Johnson said. 'Historically it has been political suicide to advocate for cuts in programs like Social Security or Medicaid. But there is a great deal of uncertainty with respect to the future of these programs in the current political environment.' 'I wouldn't say it was irrational for those who are retiring to claim Social Security earlier than they might have, given the uncertain political environment,' he continued. Cuts to Medicaid and food stamps could affect millions of low-income Americans, forcing states to shoulder more of the costs or reduce benefits. It's all part of a philosophical debate about who should be responsible, and who should pay. 'We haven't done this since… you may need to go back to Reagan,' Román said. 'We're having this national conversation again.' More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Americans Are Worried About These 3 Aspects of the Economy — Should They Be? Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Americans Are Worried About These 3 Aspects of the Economy — Should They Be?
Inflation continues to weigh heavily on Americans' minds, coming in at or near the top among economic worries in recent surveys. Whether it merits that level of worry is open for debate. Inflation topped a recent YouGov/Economist poll on Americans' biggest concerns, not just for the economy but overall. In a Clever Real Estate survey on consumer sentiment, 94% of Americans listed inflation as a top economic worry. Be Aware: Read Next: While high prices — or at least prices that feel high — continue to strain budgets, not all economists believe that level of concern is warranted. Robert R. Johnson, a professor of finance at Creighton University's Heider College of Business, advises turning that particular worry meter down for now and seeing how the Trump administration's economic proposals play out. 'Americans should not fear inflation currently,' Johnson said. 'But given the tax cuts advocated by the Trump administration, inflation could be a significant problem longer term. The budget deficit will rise dramatically if Trump's tax cuts are enacted. Additionally, inflation will be stoked if significant tariffs are in place for any length of time.' GOBankingRates breaks down the larger worries around the U.S. economy, and whether Americans should be on high alert or not. Price increases have cooled compared to spikes seen in recent years, though many costs are still higher than they were before the surge. As measured by the Consumer Price Index, inflation rose 2.3% over the 12-month period that ended in April. That's actually the lowest increase for the all-items index since February of 2021. It's also down from the 2.4% increase for the 12-month period that ended in March. Belinda Román, an associate professor of economics at St. Mary's University in San Antonio, Texas, noted that some level of inflation is always expected, and 2.3% is close to levels targeted by Federal Reserve. Nevertheless many of us have come to define inflation as prices feeling too high, rather than prices increasing significantly. 'A lot of the economy is perception,' Román said. 'People may think inflation has run away, when it hasn't really.' 'We notice it at certain times of year,' she added, citing increasing gas prices as summer draws closer. Try This: The only item listed more often than inflation in Clever Real Estate's survey of economic worries? The rising cost of all types of insurance. A whopping 95% of respondents listed increasing insurance costs among their top economic concerns. Homeowners' insurance rates surged by 24% between 2021 and 2024, according to a report from the Consumer Federation of America. These increases haven't been limited to disaster-prone regions, with rates climbing nationwide due to inflation and higher repair costs. That said, a recent spate of disasters is having a widespread impact. 'This is putting a lot of pressure on insurers,' Román said. 'Even if it's not happening where you are, it's reverberating throughout the country.' Auto insurance has also seen sharp increases, with premiums up 0.6% in April and 6.4 over the last twelve months ending in April, based on the Consumer Price Index. 'There is no magic bullet to control these costs,' Johnson said. 'The rising cost of insurance is certainly changing the attractiveness of certain housing markets, particularly for retirees.' Cuts proposed by the Trump administration were also prominent in Clever Real Estate's survey on top economic worries. Among those figures: Only about a third of respondents supported recent mass layoffs at many federal agencies, with 82% expressing worry about federal spending cuts. Three quarters of those surveyed said they would feel an impact on themselves or their families if cuts reduced assistance programs like Social Security, Medicaid, food stamps, and benefits for veterans. 'There is a great deal of uncertainty with respect to federal government spending, particularly programs like Medicaid,' Johnson said. 'Historically it has been political suicide to advocate for cuts in programs like Social Security or Medicaid. But there is a great deal of uncertainty with respect to the future of these programs in the current political environment.' 'I wouldn't say it was irrational for those who are retiring to claim Social Security earlier than they might have, given the uncertain political environment,' he continued. Cuts to Medicaid and food stamps could affect millions of low-income Americans, forcing states to shoulder more of the costs or reduce benefits. It's all part of a philosophical debate about who should be responsible, and who should pay. 'We haven't done this since… you may need to go back to Reagan,' Román said. 'We're having this national conversation again.' More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Americans Are Worried About These 3 Aspects of the Economy — Should They Be? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-06-2025
- Business
- Yahoo
5 States Where Homes Sell the Quickest — Should You Sell?
With the homebuying season in full swing, many owners want to know whether they should sell their homes or hold out for a better market. Most experts agree that high mortgage rates have kept the market stagnant. However, data from Clever Real Estate reveals the housing market in the U.S. differs significantly by region. In some parts of the nation, homes sit on the market for months, while in others, they are in escrow within days. Trending Now: Read Next: With the fate of rates in question, hopeful sellers will have to rely more on things like inventory to determine whether they should sell. Here are the five states where homes are selling the quickest. Massachusetts leads the nation with the fastest-selling homes on the market. According to Clever, homes in the Bay State spend an average of 22 days on the market. Low inventory is the propelling factor behind this quick turnaround. The state has a housing supply that would last only 1.9 months. For sellers, the low inventory keeps home prices high. The median home price in the state is $629,000, well above the national average of $429,000. Potential sellers may want to act fast to take advantage of the red-hot rocket. Sales in the state increased 2.57% in 2024 over the previous year. Metro areas near Boston, such as Springfield, are not only top markets in the state but also in the country, as reported by Explore More: The second fastest-selling state in the nation is Nebraska. On average, homes spend just 24 days on the market. With only two months of housing inventory, low supply is a driving force behind the hot market. While high mortgage rates may be stunting home sales in other areas of the country, sellers in the Cornhusker State continue to benefit from high demand and lower-than-average home prices that attract buyers. The median home price in Nebraska is $289,000, significantly less than the national average. Ranking third on the list, homes in the State of Washington stay on the market for just 25 days. Low housing inventory, enough for just over two months, helps to move houses quickly in the state. Buyers are not deterred by a high median home price, likely due to a higher-than-average median household income. The average home costs around $636,000, and the average household income is $94,605. While some potential sellers may hold out hope for a substantial drop in mortgage rates, the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group anticipates the rate will be reduced to 6.3% in 2025 and 6.2% in 2026. Home sales continue to grow in the northernmost state of Alaska. Homes stay on the market for a median of 26 days. As with the other states ranking high on the list for fastest selling, Alaskan home sellers benefit from low inventory. The state has a housing supply of just 2.4 months. Lower than average median home prices ($380,000) and higher than average median income ($86,631) help to keep the market in the state healthy for sellers hoping to sell quickly. In Kansas, homes stay on the market for a median of 27 days. The midwestern state has the lowest housing inventory of all states at just 1.5 months. Potential sellers can take advantage of the lack of supply and housing prices below the national average to entice buyers and move property quicker than 45 other states. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 5 States Where Homes Sell the Quickest — Should You Sell? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-06-2025
- Business
- Yahoo
5 States Where Homes Sell the Quickest — Should You Sell?
With the homebuying season in full swing, many owners want to know whether they should sell their homes or hold out for a better market. Most experts agree that high mortgage rates have kept the market stagnant. However, data from Clever Real Estate reveals the housing market in the U.S. differs significantly by region. In some parts of the nation, homes sit on the market for months, while in others, they are in escrow within days. Trending Now: Read Next: With the fate of rates in question, hopeful sellers will have to rely more on things like inventory to determine whether they should sell. Here are the five states where homes are selling the quickest. Massachusetts leads the nation with the fastest-selling homes on the market. According to Clever, homes in the Bay State spend an average of 22 days on the market. Low inventory is the propelling factor behind this quick turnaround. The state has a housing supply that would last only 1.9 months. For sellers, the low inventory keeps home prices high. The median home price in the state is $629,000, well above the national average of $429,000. Potential sellers may want to act fast to take advantage of the red-hot rocket. Sales in the state increased 2.57% in 2024 over the previous year. Metro areas near Boston, such as Springfield, are not only top markets in the state but also in the country, as reported by Explore More: The second fastest-selling state in the nation is Nebraska. On average, homes spend just 24 days on the market. With only two months of housing inventory, low supply is a driving force behind the hot market. While high mortgage rates may be stunting home sales in other areas of the country, sellers in the Cornhusker State continue to benefit from high demand and lower-than-average home prices that attract buyers. The median home price in Nebraska is $289,000, significantly less than the national average. Ranking third on the list, homes in the State of Washington stay on the market for just 25 days. Low housing inventory, enough for just over two months, helps to move houses quickly in the state. Buyers are not deterred by a high median home price, likely due to a higher-than-average median household income. The average home costs around $636,000, and the average household income is $94,605. While some potential sellers may hold out hope for a substantial drop in mortgage rates, the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group anticipates the rate will be reduced to 6.3% in 2025 and 6.2% in 2026. Home sales continue to grow in the northernmost state of Alaska. Homes stay on the market for a median of 26 days. As with the other states ranking high on the list for fastest selling, Alaskan home sellers benefit from low inventory. The state has a housing supply of just 2.4 months. Lower than average median home prices ($380,000) and higher than average median income ($86,631) help to keep the market in the state healthy for sellers hoping to sell quickly. In Kansas, homes stay on the market for a median of 27 days. The midwestern state has the lowest housing inventory of all states at just 1.5 months. Potential sellers can take advantage of the lack of supply and housing prices below the national average to entice buyers and move property quicker than 45 other states. More From GOBankingRates The 10 Most Reliable SUVs of 2025 This article originally appeared on 5 States Where Homes Sell the Quickest — Should You Sell? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
