Ninety-six percent of homes in the U.S. have at least one smoke detector in the home, according to the U.S. Fire Administration. But many homeowners are unaware about the different types of smoke detectors and how one may be more effective than the other.There are two main types of smoke detectors: ionization and photoelectric.An ionization smoke detector is the most common in U.S. households, with 90 percent of all smoke detectors being this typ
From high-resolution security cameras to concrete walls and even safe rooms, some luxury homeowners are taking the idea of home security to a new level.The Wall Street Journal says high-end homeowners are adopting “James Bond-esque” security measures to combat potential burglars, kidnappers, and even terror attacks. They’re willing to spend millions on such measures too. Some middle-class homes are taking a smaller scale approach.Security f
Social networks can carry a lot of weight in people’s lives, even having an impact on their real estate decisions. In a recent REALTOR® University Speaker Series presentation, Dr. Johannes Stroebel presented research about the influence of social networks on buyers’ home purchase decisions.Housing investment is a regular topic of discussion on Americans’ social networks. About half of the respondents in the study had discussed—either som
Since the Great Recession from 2007–2009, renters have faced skyrocketing rents and landlords have enjoyed steadily growing profits. However, that may change in 2017, according to the latest forecast from Axiometrics.From 2010 to 2016, rent growth rose 150 basis points above the long-term average. But some markets where rents had been rising the most are starting to see declines occur.“The slower rent growth in 2017 is expected to benefit ren
California cities continue to dominate the list of the hottest housing markets in the country. In Vallejo-Fairfield, Calif., days on the market for listings have dropped by half over the past year, which helped propel it to the top of realtor.com®’s hottest housing market list for February.Across the country, homes for sale are more limited than ever before, and strong buyer demand mixed with that limited inventory is fueling higher home price
Your 10-year outlook: Expect business to get busier, but be ready for some major demographic shifts in housing.Housing demand over the next decade will be significantly higher than it is today, predicts Lawrence Yun, the chief economist of the National Association of REALTORS®, in his latest column at Forbes.com. Rising populations and a growth in the job market likely will release a pent-up demand in housing over the next 10 years, he says.The
Workers over the age of 65 are staying active in the workforce, opting to push back retirement.In the year 2000, about 13 percent of Americans 65 and over reported being employed full or part time. But, by May 2016, that percentage had increased to 18.8 percent. As such, nearly 9 million Americans who are age 65 and over are employed. Further, over the next five years, that percentage is expected to rise to 32 percent of the workforce.“The cont
McAllen, Texas has seen the highest rental cost increases in the nation over the past year, according to a new report released by RentRage. Their researchers collected rental data on about 250,000 three-bedroom, single-family homes and then ranked the top 25 metro areas by average rental rate increases for single-family homes between the fourth quarter of 2016 and the same quarter in 2015.While rents remain persistently high in the Bay Area, San
The average American household spends $2,149 on property taxes for their homes each year, according to U.S. Census data. But depending on where you live, that can vary drastically.For the third consecutive year, New Jersey ranks as having the highest property taxes in the nation, according to a new report released by WalletHub. Its effective tax rate of 2.35 percent means homeowners there pay about $7,410 annually on a $316,000 home, the median s
The U.S. Senate today confirmed retired pediatric neurosurgeon Ben Carson to be the 17th secretary of the Department of Housing and Urban Development. The vote was 58 to 41. A simple majority of 51 votes was needed to confirm him.In his confirmation hearing before the Senate Banking Committee last month, Carson took a number of positions that align with the market priorities of the National Association of REALTORS®. Among these, he said all Amer
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