2022 – Page 65

146 more U.S. cities pass the $1 million mark, the most ever in a single year

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– The U.S. currently has 481 million-dollar cities, in which the typical home value is at least $1 million. – Idaho, Montana and Tennessee gained million-dollar cities for the first time, although most exist within eight coastal metros. – There are more new $1 million cities this year than there were in the past six years combined. A record 146 U.S. cities became new “million-dollar cities” in 2021, Zillow data shows.

LRES Welcomes Natalie Harrison as Director, Vendor Management

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LRES Corporation, a provider of real estate appraisals and evaluations, asset management, and commercial trustee services, has expanded its leadership team to include industry veteran, Natalie Harrison, as Director of Vendor Management. Ms. Harrison oversees the management of LRES’ national panel of appraisers and real estate professionals, which includes panel outreach and all aspects of onboarding, management, and profile maintenance. “I am excited to be a part of the team and to

Redfin Reports Homebuyers’ Monthly Payments Up 25% to Record High

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People who need to move now are pinched by rising mortgage rates, sky-high home prices and rising rents The estimated monthly mortgage payment for a typical home for sale rose 25% year over year—or $388—to a record $1,931, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s based on the all-time high median asking price of $376,000 recorded during the four weeks ending February 6, and an

WORD OF THE DAY: Inglenook

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[ING-ɡəl-nook] Part of speech: Noun Origin: Scottish, late 18th century Definition: A space on either side of a large fireplace Examples of Inglenook in a sentence “The central feature of the living room was the inglenook.” “Some historical homes have inglenook fireplaces tucked under a grand staircase.” About Inglenook This word originates from “ingle,” perhaps from the Scottish Gaelic “aingeal” meaning “light, fire,” Irish aingeal “live ember.” “Nook” is from Middle English and refers to

Entera Welcomes Chief People Officer, Jeffrey Belanger and SVP of Growth, Alejandro Guerrero

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Entera, the leading platform for single-family real estate investors, announced the appointment of Jeffrey Belanger as Chief People Officer (“CPO”), and Alejandro Guerrero as the Senior Vice President of Growth to Entera’s executive leadership team. In their roles, Belanger will be responsible for all aspects of Entera’s human resource strategies and Guerrero will take a leading role in scaling and executing Entera’s next phase of growth. Belanger brings over three

RealtyTrac® Data Shows Increase in Share of Real Estate Investor Purchases

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More Investors Paying with Cash, But Pricing Discounts Decline Real estateinvestor purchases accounted for 16.4% of all home purchases nationally in Q3 2021 compared with 11.7% in Q3 2020, a year-over-year increase of just over 40 percent, according to the RealtyTrac® Investor Purchase Report. The report measures the share of all single-family home sales purchased by investors, the average price discount of investor-purchased properties, and the share of all-cash sales. Investors purchase