Housing News
Top 25 Highest Spending Cities in the U.S. – Surprising Results
Top highest spending cities
Bundle.com studied the average household spending for 2009 and by excluding mortgage or rent payments, they came up with the 25 cities that spend the most, and surprisingly, most of the big spenders are in the South or Southwest. Not all of the cities featured are affluent, nor famous for flashy spending and it appears that in Texas, we sure like to spend our money!
What is spending like in your city?
The Top 25:
- Austin, TX ($67,076)
- Scottsdale, AZ ($64,687)
- San Jose, CA ($59,022)
- Arlington, VA ($52,085)
- Plano, TX ($56,738)
- Raleigh, ND ($53,398)
- Nashville, TN ($52,964)
- Tucson, AZ ($51,857)
- Irvine, CA ($51,286)
- Durham, NC ($51,114)
- Washington, D.C. ($49,431)
- Dallas, TX ($47,920)
- Seattle, WA ($47,336)
- Reno, NV ($47,273)
- Corpus Christi, TX ($46,311)
- San Antonio, TX ($46,122)
- Honolulu, HI ($46,087)
- Oklahoma City, OK ($45,449)
- San Francisco, CA ($45,291)
- Madison, WI ($45,275)
- Henderson, NV ($45,220)
- Wichita, KS ($44,810)
- St. Paul, MN ($44,579)
- Chandler, AZ ($44,470)
- Lubbock, TX ($44,122)
Austin
Austin tops the list of best places to buy a home
When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?
Housing News
Average age of houses on the rise, so is it now better or worse to buy new?
With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.
The average home age is higher than ever
(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.
With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.
Prices of new homes on the rise
Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.
Click here to continue reading this story…
Housing News
Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?
The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.
Why Realtors are vulnerable to these rapid changes
(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.
Note: We’ll let you decide which company plays which role in the image above.
So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.
1. Zillow poaches top talent, Move/NAR sues
It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.
Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.
2. Two major media brands emerge
Last fall, the News Corp. acquisition of Move, Inc. was given the green light by the feds, and this month, Zillow finalized their acquisition of Trulia.
…Click here to continue reading this story…
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Joe Loomer
March 27, 2010 at 8:45 am
Hate to disagree with you Lani, but only four of these cities are in the South, eleven are in the southwest or west – five in Texas and three in California. That, and Bundle didn’t “bundle” Raleigh and Durham – which are essentially one city.
Navy Chief, Navy Pride
Lani Rosales
March 27, 2010 at 1:45 pm
My point remains that I figured NYC and Boston and the like would be up there, so can we agree that almost the entire list exists below (SOUTH OF) the Mason-Dixon line? 🙂 🙂
BawldGuy
March 27, 2010 at 11:59 am
Mildly surprised San Diego is among that group.
Lani Rosales
March 27, 2010 at 1:46 pm
I share your sentiment- Austin has never been in my mind for being a big spender city. Our city is all about free entertainment, free booze, free everything, so I’m astonished!
Wallpapers
March 27, 2010 at 3:15 pm
Where is New York City!!! I pass by these huge boutiques all the time here in the city but I guess they are just for show. They better start moving those shops to somewhere in Austin and give back the buildings in the old meat district!
Stephanie Crawford
March 28, 2010 at 11:51 pm
Nashville surprises me too. In Nashville/Davidson county the average home sales price so far this year is only $193,255. I bet they’re pulling in Williamson county located to the south of town which includes Franklin and Brentwood where the average sales price is $388,423.
scottsdale az real estate
March 30, 2010 at 3:56 am
Nice post,I am not surprised that Scottsdale belong to the top 25 Highest Spending Cities in the U.S..!!I used to live in Scottsdale before..I live there for almost ten years.!!!