real estate

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Goonies House for Sale on Oregon Coast

Buyer should be prepared to welcome flocks of fans

(Newser) - Good news for fans of The Goonies: The old Victorian home featured in the film is on sale in Astoria, Oregon, and potential buyers are considering making it more accessible to the public. "We have a few interested parties right now," said realtor Jordan Miller, the listing agent...

A Christmas Story House Up for Sale
An Iconic Ohio
Home Is Up for Grabs

An Iconic Ohio Home Is Up for Grabs

Cleveland house used in 'A Christmas Story,' plus a museum and gift shop, has been listed

(Newser) - You could spend Christmas—and every other day of the year—in the house made famous by A Christmas Story. The century-old home in Cleveland, used to house the family of Ralphie Parker in the 1983 film, is up for sale as part of a listing that includes a museum,...

They Couldn't Get a Mortgage. Divvy Helped—Maybe

The rent-to-own startup has some unhappy customers

(Newser) - Divvy was partly born out of the American dream realized, or so writes Ainsley Harris for Fast Company . Co-founder and CEO Adena Hefets is the daughter of an Israeli immigrant who "lucked into homeownership through seller financing, after being denied a mortgage," and then was able to help...

Older, White Homebuyers Squeeze Others Out of Market

Share of first-time owners falls to 41-year low

(Newser) - It's not just higher mortgage rates and lower inventory squeezing young people out of the real estate market: It's older white people who can bring cash to the deal. In its yearly profile of buyers and sellers, the National Association of Realtors says those purchasing their first home...

Opendoor Is Laying Off Almost a Fifth of Its Workers

'We're navigating one of the most challenging real estate markets in 40 years,' CEO says

(Newser) - Online house-flipping firm Opendoor has become the latest company to downsize in the wake of the rapid shift in the housing market. CEO and co-founder Eric Wu said in an email to employees shared on the company blog Wednesday that with a "heavy heart," the company is saying...

For the Wealthy, the New Draw Is the 'McBasement'

If you can't go up or out, go down

(Newser) - If the word "basement" conjures up memories of a dark and musty rec room where you spent your youth, the Wall Street Journal is ready to usher you into 2022. Basements are in, but they aren't like any basement you know. As EB Solomont writes, they're the...

An Unwanted and Inhospitable Lighthouse Finally Sells

Hooper Island Lighthouse went for way more than the starting price

(Newser) - The federal government has sold off a rather inhospitable lighthouse in the middle of the Chesapeake Bay for a six-figure sum after a bidding war at auction. The Hooper Island Lighthouse, located west of Middle Hooper Island in Maryland's Dorchester County, at first drew little interest, reported the Washington ...

New Real Estate Wrinkle: Reluctant Sellers

Many have a low mortgage rate now, so why sell and possibly double it on a new place?

(Newser) - The housing market is a complex place at the moment, with the Fed's aggressive rate hikes sending mortgage rates north of 6% for the first time in nearly 15 years. Much of the resulting coverage has focused on the buyers' view of things—how those higher rates add hundreds...

Mortgage Rates Reach an Unwanted Milestone

Average rate hits 6% for the first time since 2008

(Newser) - Someone who closes on a house this month will be paying twice the mortgage rate of a year ago. The average rate on a 30-year fixed-rate mortgage reached 6% this week for the first time since the recession days of 2008, reports the New York Times . That's up from...

Seeking Sun and Surf? These US Beach Towns Won't Break the Bank

Port Arthur, Texas, comes in at No. 1

(Newser) - Dreaming of a home near the ocean? A new assessment by PropertyShark susses out the most affordable beach towns and cities in the US. The site calculated median price per square foot to crown Port Arthur, Texas, as the champ. Generally, locales in Texas, Mississippi, and Florida dominated the top...

City You Might Not Expect Lands Atop Housing Ranking

Elkhart, Indiana, is No. 1 in compilation by WSJ and Realtor.com

(Newser) - A unique ranking of cities for prospective home-buyers puts a city on top that might not be familiar to many—Elkhart, Indiana. The metro area of the city of approximately 200,000 people is No. 1 in the rankings compiled by the Wall Street Journal and Realtor.com . Their idea...

$30M Off-the-Grid Property Comes With a Herd of Yak

'If all hell breaks loose, you can come here and you’ll be OK'

(Newser) - If you have very deep pockets and a belief that America's in for an extremely bumpy ride, a 312-acre property in New Mexico could be for you. The ranch in wilderness near Taos has its own water supply, tanks that can hold a year's worth of propane, a...

China's Richest Woman Is Rapidly Getting Poorer

Yang Hiuyan's $23.7B fortune has more than halved amid real estate crisis

(Newser) - With an estimated fortune of $11.3 billion, China's richest woman isn't exactly short on cash—but the country's real estate crisis has made Yang Huiyan a lot poorer than she was at the start of the year. Bloomberg reports that Yang had an estimated $23.7...

Top 10 Cities People Are Looking to Leave

San Francisco has apparently priced too many people out of its market

(Newser) - Crazy house prices have upended the market in the last two years, triggering what the real estate brokerage firm Redfin labels unprecedented levels of relocation. Specifically, prospective home buyers seem to be leaving cities where prices are too high in favor of more affordable locales. The company ranked the cities...

Mortgage Demand Hits 22-Year Low
Mortgage Demand
Hits 22-Year Low

Mortgage Demand Hits 22-Year Low

The real estate market is cooling amid high rates, high inflation, high prices

(Newser) - While heat waves and wildfires have dominated recent headlines, there’s a major cooling trend in the US housing market. According to the Mortgage Bankers Association's weekly survey, mortgage applications dropped a seasonally adjusted 6.3% last week, per CNBC. That puts mortgage demand at its lowest point since...

US Cities Seeing Most Cuts in Home Prices

In Boise, Idaho, 61.5 of homes on the market saw a reduced price in June

(Newser) - The pandemic saw house prices soar across the country, but higher interest rates and increasing supply are now helping cool the previously red-hot real estate market in many areas. If you're looking to buy now, you're likely to find that prices have been reduced from the original listing...

House Flippers Have Been Busier Than Ever

Investors are scrambling for profits as the real estate market cools

(Newser) - House flippers were exceptionally busy in the first quarter of 2022, with flips accounting for 9.6% of all single-family home and condo sales in the US. It's part of an ongoing trend, but it was still a big jump compared to 6.9% in Q4 and 4.9%...

Billionaire's New Estate Sets Florida Record

It's not far from a property Larry Ellison purchased for $80M last year

(Newser) - One of the world's richest people , billionaire Oracle founder Larry Ellison, has just dropped $173 million on new digs, setting a record for the largest residential sale in Florida history. And by a long shot. Previously, the state hadn't seen a home sell for more than $130 million,...

Florida Home for Sale Comes With Realtor's Ex

All yours for $699K in Panama City

(Newser) - Earlier this month, a home went up for sale in Virginia with an unwanted squatter in the basement. Now comes one in Florida that comes complete with an ex-husband, reports WMBB . The listing out of Panama City has gone viral since it was highlighted by Zillow Gone Wild . Realtor Crystal...

Mortgage Rates Highest in a Decade
Mortgage Rates
Highest in a Decade

Mortgage Rates Highest in a Decade

30-year is now 5.21%, and the effects on housing market already are surfacing

(Newser) - The news won't come as a shock to those currently in the market to buy a house and calculating their monthly expenses—mortgage rates have reached a 12-year high. CNN puts the rate on a 30-year fixed mortgage at 5.11% for the week ending Thursday, the highest since...

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