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Yahoo
an hour ago
- Business
- Yahoo
The Cheapest Place To Buy a Home in Every Western State
The West is home to a unique and diverse stunning landscape that has it all. From bustling cities to mountains, deserts, beaches, forests and national parks, the West has a natural beauty that's unrivaled. While the region has a lot to offer, it's not cheap. Houses in the West are expensive due to high demand and other factors such as building costs, geographical limitations and taxes. Trending Now: Find Out: With that in mind, if you're dreaming of owning a house out West without the soaring price tag, there are options — if you know where to look. Using data from Zillow Home Value Index (ZHVI) and the U.S. Census Bureau regarding population, GOBankingRates has compiled a list of the cheapest place to purchase a home in every Western state. Cheapest place: Ninilchik 2025 ZHVI: $192,689 Total population: 1,009 Known for its clamming, salmon runs and striking views, Ninilchik is the cheapest place to buy a home in Alaska, but it's still pricey. According to BestPlaces, it's 1.6% higher than the national average to live, but 12.8% lower than the state average. Check Out: Also See: Cheapest place: Bowie 2025 ZHVI: $77,867 Total population: 399 As the gateway to the Fort Bowie National Historic Site — an area where the Chiricahua Apache once fought to protect their land — Bowie is a nature lover's dream. The cost of living is 15.2% lower than the national average, per BestPlaces. Find More: Cheapest place: Johannesburg 2025 ZHVI: $88,217 Total population: 77 Located in Kern County, Johannesburg is only 0.2% cheaper than the national average to live, but is 33.4% less than the state average, according to BestPlaces. The real savings comes from housing. Purchasing a home is about 74% less than the national average. Cheapest place: Las Animas 2025 ZHVI: $119,513 Total population: 2,480 Las Animas was once an important trading and trapping center and plays a significant historical role in U.S. history. It is affordable for the West — 30.4% lower than the national average. Cheapest place: Ocean View 2025 ZHVI: $276,162 Total population: 3,809 Living in paradise is the big dream for many, but Hawaii is known for its high prices. The cheapest place to live in the state is Ocean View, where the cost of living is 31.9% more than the national average but 20.4% less than Hawaii's average, per BestPlaces. Read More: Cheapest place: Pierce 2025 ZHVI: $174,829 Total population: 465 Primarily known for the first site gold was discovered in Idaho back in 1860, Pierce is 14.4% cheaper to live than the national average. Cheapest place: Medicine Lake 2025 ZHVI: $110,272 Total population: 190 Medicine Lake boasts beautiful views and is home to the Medicine Lake National Wildlife Refuge. It's also the cheapest place to score an inexpensive home in Montana. The cost of living is 20.8% less than the national average, per BestPlaces. Cheapest place: Austin 2025 ZHVI: $94,831 Total population: 47 Austin is a well-preserved old mining town and has a unique history with a cheap cost of living. It's 8.7% lower than the national average to live. Explore This: Cheapest place: Tucumcari 2025 ZHVI: $87,563 Total population: 5,197 With its Route 66 attractions, outdoor adventures, remarkable landscapes and famous dinosaur museum, Tucumcari is a one-of-a-kind town and affordable. According to BestPlaces, the cost of living is 33.4% lower than the national average. Cheapest place: Bly 2025 ZHVI: $177,354 Total population: 123 Bly is a magical dark sky community that's ideal for stargazing — and it's also surrounded by the Fremont National Forest, where you can hike, bike, camp and enjoy the rugged natural beauty. The cost of living is 13.8% lower than the national average and 24.6% cheaper than Oregon's average. Cheapest place: Brian Head 2025 ZHVI: $207,883 Total population: 49 Brain Head offers year-round outdoor activities and is the place to go for skiing. It's also reasonably priced compared to other Western cities. The cost of living is 8.6% lower than the national average. Editor's note: Photos are for representational purposes only and might not reflect the exact locations listed. Methodology: To find the cheapest place to buy a home in every state, GOBankingRates analyzed every state to find the cities with the cheapest median home values, as sourced from Zillow Home Value Index. For each city, the total population was sourced from the U.S. Census American Consumer Survey as supplemental data. All data was collected and is up to date as of May 27, 2025. More From GOBankingRates The New Retirement Problem Boomers Are Facing This article originally appeared on The Cheapest Place To Buy a Home in Every Western State
Forbes
a day ago
- Business
- Forbes
Can This Viral Real Estate Startup Succeed Where Redfin And Zillow Failed?
Many fintechs have attempted to revolutionize the home buying and selling process. For decades, startups have tried and failed to upend how Americans buy and sell homes. From Zillow Offers to Purplebricks, each effort ran into the same wall: an entrenched ecosystem that defends the 6% commission with surprising durability. A new AI-powered home-selling platform called Ridley is trying to change this. Unlike previous attempts that aimed to digitize or discount the agent experience, Ridley is trying to eliminate it altogether. The company believes that a shift in consumer sentiment, AI capabilities, and regulatory pressure finally makes this feasible. Has the time finally come for fully digital, broker free home transactions? Real Estate's Long History of Resistance Redfin launched with lofty ambitions. Startups have been circling residential real estate for years. Redfin launched in the early 2000s with a tech-forward brokerage model. However, in spite its lofty ambitions, the company never truly broke from the commission structure. Zillow tried to become a market maker with its iBuying initiative, only to shutter the effort in 2021 after a reported $500 million in losses. Purplebricks, the UK-based discount broker, exited the U.S. market in under two years. Each of these models attempted to digitize parts of the process, but none removed the agent altogether. Why? Because in the United States, realtors hold outsized power. The industry is reinforced by the National Association of Realtors (NAR), a patchwork of state-level regulations, and the centrality of MLS platforms. Many of which are inaccessible without a licensed broker. Few understand the true power of the NAR on homebuying in the United States. The association spent more than $80 million on lobbying in 2024 alone - more than any other group. These efforts help the NAR maintain its stronghold on the commission structure that brokers can charge. In Colorado, for example, state law requires brokers to perform a minimum set of services just to get a listing on the MLS. That makes DIY selling costly, confusing, and in many cases, legally precarious. Why Realtors Still Dominate in the U.S. Realtors continue to play an outsized role in home purchase transactions in the US. Compared to countries like the UK and Australia, U.S. agent fees remain high, averaging between 5 and 6%. That difference adds up. On a $500,000 home, U.S. sellers often pay $30,000 or more in commissions, divided between buyer and seller agents. This fee structure is baked into the real estate culture and justified by the industry as 'necessary' due to the complexity of the U.S. transaction process. But the real reason is structural: agents want control. The NAR, which has more than 1.5 million members, has successfully defended this model through lobbying and antitrust protections. Recently, however, the tide has started to shift. In the past year, the Department of Justice has reopened scrutiny of the NAR's commission-sharing rules, and companies like Compass and Zillow are actively challenging long-held norms. suggesting the industry may be nearing an inflection point. Could the industry finally be nearing its inflection point? Why Now — and Why Ridley? Many companies have tried - and failed - to reshape real estate. It is amidst this changing landscape that a new crop of proptech players have emerged. Ridley's origin story is striking. Founder Mike Chambers had no intention of starting a real estate company. He wanted to sell his house in Boulder, and could not find an agent willing to negotiate below the 6% rate. When he tried to list the home himself, he encountered steep fees and legal barriers. 'It wasn't until I tried to get on the MLS that I realized how rigged the system really was,' Chambers says. That frustration turned into a viral account, @realtorshateme, which attracted thousands of followers overnight. Encouraged by the response, Chambers built an MVP in 45 days. By the time the beta launched, 5,000 homeowners were on the waitlist. Chambers is capitalizing on the momentum rapidly evolving tech momentum and evolution in AI to offer personalized, step-by-step support based on hyperlocal market data. The American dream of homeownership continues to slip from reach, consumers are more cost-conscious than ever, an degulatory pressure is mounting. Chambers believes these factors create a 'perfect storm' for disruption. 'This is a meaningful sum of money for people,' he says. 'It impacts affordability at every level of the housing ladder.' What Ridley Is Actually Building Ridley integrates AI to make the home sale process seamless. Ridley is not a discount brokerage. It is a platform designed to let sellers manage their home sale from start to finish, realtor-free. Its AI-powered tools help homeowners determine pricing, draft listings, and distribute them across Zillow, Redfin, and other platforms. Unlike ChatGPT-based chatbots, Ridley's models are trained on proprietary data and structured transaction logic. The platform also addresses a major gap: documentation. In surveys conducted by Chambers, paperwork, not pricing, was the top fear among sellers. Ridley is building an intelligent document guidance tool that highlights confusing language and will soon provide negotiation support by analyzing offers and predicting outcomes. Users also have access to Ridley Concierge, which connects them with real estate attorneys, vendors, and stagers. Through a partnership with Thumbtack, sellers can book everything from cleaning to photography in one place. In beta, Ridley operated in Colorado, Arizona, and the Northeast, closing six sales and saving nearly $40,000 in commissions from sellers who had never tried selling homes on their own before. Can Ridley Win Where Others Failed? Proptechs like Ridley are trying to level the home buying playing field. Disintermediating realtors is still a steep climb. MLS access, regulatory friction, and consumer trust remain real challenges. But Ridley may have an edge where others faltered. It is not capital-intensive like iBuyers. It is not reliant on brokers like Redfin. And it is not trying to play nice with the old guard. It is also culturally aligned with today's market. Ridley's tone is direct. Its product is intuitive. And its growth is community-led, born from real consumer frustration rather than top-down product strategy. Investors like Moxxie Ventures have taken notice and backed the company with funding. 'This industry was built to protect itself,' says Chambers. 'Once you start to break that up—even a little—the whole thing starts to shift.' Ridley is certainly not be the first startup to challenge the U.S. real estate machine. However, it may be the most culturally and technologically aligned to succeed. By giving everyday homeowners the tools (and confidence) to go it alone, it is not just taking aim at agent commissions—it is rewriting the rules of who gets to sell a home in America.
Yahoo
a day ago
- Business
- Yahoo
A Realtor Warns: Don't Make These Common First-Time Homebuyer Mistakes
Purchasing your first home is both an exciting endeavor and a complex process. Between today's low housing inventory and securing a manageable interest rate, navigating the real estate market for the first time can be a challenge. To help you gain insight into the process and current market, we tapped New Jersey-based Compass realtor Caterina Peters to share the top mistakes first-time home buyers make. According to Peters, a successful home buying process starts with assembling the right team of professionals, including a skilled real estate agent, a good lender, home inspector and real estate attorney. Thorough research of the local neighborhood, the types of loans you may qualify for and all upfront and potential future costs is also of utmost importance. Although there is some apprehension about taking the plunge into homeownership given today's high mortgage rates, Peters says, 'Because of limited inventory and the rising rents, people are still definitely very eager to get into a home.' Since it doesn't look like interest rates will drop anytime soon, Peters says creative financing and flexibility are key. Keep reading for her advice to avoid unnecessary stress both now and down the road. Before you start perusing Zillow, speak with a lender to get pre-approved for a mortgage. "This way, you know your budget and types of properties to view within your comfortable price range," Peters says. Having a concrete number in mind is an essential starting point, as it focuses your house search and provides a sense of future costs, including monthly mortgage payments and closing costs. "Speak with a few lenders to shop around and see who is a good communicator and will guide you through the process, since there will be a lot of paperwork and questions to answer," Peters advises. Just as you shop around for the right house, shop around for the right lender and compare their offers to find the best deal. "Often, when working with a large lender, you may be passed off as an anonymous number and not have a point of contact when questions or concerns come up. In this process, relationships are of the upmost importance, so you are comfortable," Peters adds. Navigating the complex process of finding and purchasing your first home is made infinitely easier with the help of a good real estate agent. "Connect with a knowledgeable and ethical real estate agent who will guide you through the process, and suggest different types of properties and areas based on your needs and price range," Peters says. She adds that the real estate agent is also the person who sets expectations during the process and negotiates a good deal on the best property for you. In addition to picking the right real estate agent and lender, Peters stresses the importance of another key role on your team: the home inspector. "Your home inspector is an important person on your team, as they will thoroughly inspect the property to let you know of any potential repairs or defects." This can save you a lot of money down the line, whether you choose to walk away from a property when an inspection reveals serious concerns or you gain leverage to negotiate with the seller. What's worse than choosing the wrong inspector is waiving the home inspection altogether. While it may seem like a good way to save money upfront or to get the seller to reduce the asking price, it's highly risky. You'd be purchasing the property without full knowledge of its condition, which can be costly in the long run. "Your mortgage professional will ensure that you purchase the home with a loan product that has the best interest rate and terms so the payment is comfortable," Peters says. Committing to higher monthly payments beyond your family's budget is where many people make a major mistake. Your credit score is an important financial component of the home buying process from start to finish. A lender will run a credit report to help determine the mortgage amount you are pre-approved for, but it doesn't end there. Before you close on the home, your credit report will be pulled again to ensure everything is in order and the sale can proceed as planned. For this reason, maintaining a good credit score is of utmost importance. Also, it's best to avoid opening or closing bank accounts, applying for new credit cards and making any large purchases during this period. While you may have found the house, keep the whole neighborhood in mind during your search. You can renovate and upgrade a home, but you can't change the neighborhood or location. Consider the type of community you appreciate, the home's location and its proximity to your work, schools and amenities. You should also think in terms of resale value when viewing properties. Some states require a real estate attorney to complete the transaction, in which case it pays to do your due diligence and pick the right one. Keep in mind that this will be an additional cost. "Your real estate attorney's role is important, as they negotiate the key terms of the contract and add clauses that will protect you during the purchase process," Peters explains. This is another reason why working with a knowledgeable real estate agent is essential, as they can recommend a trusted real estate attorney to join your team. People often think a 20% down payment on a home is the standard. However, that's not necessarily the case, especially if you are a first-time homebuyer. There are FHA loans, which allow you to put down as little as 3.5% if you meet certain financial requirements. There are also VA loans that don't require a down payment for veterans, and USDA loans through the Department of Agriculture that don't call for a down payment on properties within certain areas. You can also take advantage of various first-time homebuyer programs, whether they are federal, state or employer-based. Get informed about the upfront costs involved in purchasing your first home. The last thing you want are surprises along the way. Ask your real estate agent for a list of costs to expect during the process and even after you purchase the home. Along with the down payment, there are other costs such as a home inspection or a real estate attorney's fee. Buying your first home is likely the biggest purchase you have ever made, but blowing through your entire savings to close the deal is not wise. Unexpected expenses arise even long after you close on the property. If you are transitioning from a small studio apartment, furnishing your new home may be expensive. Or, if you've never had a backyard and now have one, maintenance and new equipment will require extra purchases. Additionally, this is also where a home inspection comes in — it gives you an idea of the cost to replace or renovate things around the house, as well as a time frame for when those investments will be necessary. Timing is everything when it comes to buying a home. Sometimes, first-time homebuyers wait so long to find the "perfect" house that they miss out on good homes and end up over-paying when they're suddenly in a pinch to move. On the other hand, others who make a hasty decision miss the opportunity to save more for a down payment. They might also settle on a home they don't love just because they were in a hurry. While purchasing a fixer upper may seem appealing as both an investment and an exciting project, being realistic about renovation costs is essential to avoid future frustration and debt. Speak to a knowledgeable contractor to get a ballpark estimate for the work that needs to be done, evaluate what jobs you need to hire professionals for and those you can take on yourself. Be wise about how much you invest in the property to ensure it's worth it in the long run — both in a personal sense and in terms of resale value. "Do your research and explore options," Peters says. "Sometimes, when you think outside of the box, you may end up finding something that is perfect for you that was not on your radar." Instead of fixating on a specific type of house or a certain neighborhood, be a bit flexible. Visit a variety of properties within your budget to make a well-informed decision to find your dream home. 'Don't get caught up in what you think is a high interest rate,' Peters says. While you need to consider whether you can realistically afford the purchase or not, the realtor says you shouldn't let what seems like a high interest rate stop you from buying your first home. Given the interest rate trends over the last few years, Peters doubts we'll see the return of 3% or 4% rates anytime soon — perhaps we'll see 5% rates at best. Instead of letting this discourage you, Peters suggests getting creative with financing, whether that means doing an interest rate buy-down for the first year or two or waiving certain contingencies. When it comes to purchasing their first home, people typically budget for monthly mortgage payments but forget to budget for soft costs. Peters says these include everything from future tax increases and insurance fluctuations to preventative maintenance and potential repairs. 'People budget for new furniture and all the fun stuff, but you should definitely put something aside for a rainy day if there's a leak or repair you weren't anticipating,' Peters notes. Before you make the purchase, Peters advises doing your local research. While your realtor will guide you through the home search and purchasing process, Peters shares there are certain things that, as licensees of the state, real estate agents cannot speak to — such as safety or quality of schools. It's the potential buyer's job to dig deeper and learn about the local area. Here are key areas Peters suggests researching: Any kind of environmental issues Safety (including checking the registered sex offender list) Schools (including school board funding, types of programs available and programs they plan on cutting) New residential or manufacturing developments being built If it's a condo, the building's condition and financials "It's really important to do your due diligence to find out what's beneath the surface of the community you're looking at," Peters says. A neighborhood may look very different on Monday morning than it does on Friday night or Saturday afternoon. For this reason, Peterson always recommends visiting the neighborhood at night and on a weekend. 'Because then you can see who's home, who's not, when people are not at work, and what they're doing,' Peters says. Consider things like music that's being blasted, people hanging out outside, trash being left around and what's happening in your potential neighbors' backyard. People are often eager to renovate and reconfigure a house to suit their needs and while that's not a bad thing, doing so without thinking long-term can cause issues down the road. 'You can never really anticipate the changes that life may bring to you, whether that's a new partner or changes in family dynamic [and] if you renovate, you don't want to go too specific with your finishes because that may not be appealing for resale value to potential buyers,' Peters says. Similarly, if you reconfigure your new home too specifically, the new layout may not work for you or potential buyers in the future. 'For instance, if you have a house and you remove all of the bathtubs, that may not be great for resale value in the future for a family that wants to come in that needs one bathtub at least if they have children,' Peters explains. You Might Also Like 67 Best Gifts for Women That'll Make Her Smile The Best Pillows for Every Type of Sleeper
Yahoo
2 days ago
- Business
- Yahoo
Toll Brothers at Elk Ridge Community Opens in Southern Utah County
ELK RIDGE, Utah, July 14, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, has announced the opening of Toll Brothers at Elk Ridge in southern Utah County. Nestled in the foothills of the Wasatch Range, Toll Brothers at Elk Ridge offers luxury single-family homes with breathtaking views and exclusive luxury living in Elk Ridge, Utah. 'Toll Brothers at Elk Ridge is an exceptional community, offering luxurious single-family homes in one of Utah County's most coveted locations,' said Mark Bailey, Regional President of Toll Brothers in Utah. 'With its stunning natural beauty and premier four-season recreation, this community provides an unparalleled lifestyle for our residents.'Toll Brothers at Elk Ridge features luxury single-family home designs ranging from approximately 4,030 to 5,889+ total square feet. Home shoppers can choose from five stunning floor plans with options for personalization priced from the upper $800,000s. The homes offer 2 to 6 bedrooms, 2.5 to 5.5 baths, and 3- to 4-car garages, and luxury outdoor living spaces featuring optional multi-panel sliding glass doors for extended indoor and outdoor entertaining. Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows customers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants. Residents will enjoy proximity to scenic parks, outdoor activities, and recreation, as well as beautiful views of the Wasatch Mountain Range. The community is conveniently located near major commuter routes, providing easy access to shopping, dining, and entertainment. The Toll Brothers Sales Center is located at 598 East Birch Lane in Elk Ridge. For more information on Toll Brothers at Elk Ridge, home shoppers are invited to call (800) 289-8655 or visit Toll Brothers Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol 'TOL.' The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine's World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | ameck@ Photos accompanying this announcement are available at: Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)Inicia sesión para acceder a tu cartera de valores
Yahoo
2 days ago
- Business
- Yahoo
A Dave Ramsey Caller Has $125K Saved And Earns $150K Annually. But She's Being Told She Shouldn't Buy A Home Without A Man
A recent call on 'The Ramsey Show' featured a young woman who shared that she's facing pressure not to buy a home, simply because she's single. Kate, a marketing professional in her early 20s from Michigan, called in to ask Dave Ramsey for advice. Despite earning more than $150,000 a year and having $125,000 saved for a down payment on her first home, she said people around her are discouraging her from buying. 'A lot of people around me are pressuring me to not buy a home,' Kate said. She explained that the pressure comes from what she described as Christian beliefs that 'girls shouldn't buy a home and men should be providers.' Don't Miss: The average American couple has saved this much money for retirement —? $100k+ in investable assets? – no cost, no obligation. Ramsey did not hold back. 'Leave the cult,' he said flatly. 'That is not a Christian belief, darling. That's a cult belief.' Co-host John Delony added, 'Leave whatever madness and misrepresentation of Christian beliefs and ethics and right and wrong immediately.' The veteran personal finance host emphasized that true Christian faith does not align with what Kate is being told. 'You make the rest of us that love Jesus look like we're morons because you're a moron when you do stuff like this,' Ramsey said. 'That's just nuts.' Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Ramsey became visibly frustrated with the idea that someone so financially capable would be discouraged based on outdated and toxic views. 'I hate bad doctrine and bad theology and how it affects people when they get in toxic situations. I'm sorry, darling, your mother and father have misled you.' Delony added that beliefs like this often come from men who feel threatened. 'You know who says this crap? Men who are afraid of losing control of amazing women like this. So they take their insecurity and fear and try to duct tape Jesus on the top of it to keep their crumbling kingdoms from coming out from under them.''They're not as smart and ambitious, and they don't have as much get up and go,' Ramsey interjected. Their advice to Kate was simple: buy the house and keep being exceptional. "I would advise my daughter to buy a house with the $125,000 she has saved as a down payment," Delony said. Ramsey added, "And keep being the studette that you are and hope that some guy is lucky enough to even catch your eye." He closed with encouragement: 'Kate, you're an absolutely incredible human being. Go shine, girl.' Read Next: Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article A Dave Ramsey Caller Has $125K Saved And Earns $150K Annually. But She's Being Told She Shouldn't Buy A Home Without A Man originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
