John Tocco's Blog Posts

Less is more when it comes to interior designs that sell

KEEPING your home's decor on-trend doesn't need to be complicated.In fact, this year's top design style is super simple, but it can still boost your home's selling power.According to the home

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Rising mortgage rates are hitting Americans’ wallets. Here’s how to adjust your housing budget

Rising mortgage rates are hitting Americans’ wallets. Here’s how to adjust your housing budgetHomebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices

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One more sign the housing market is cooling off

Another indication the hot housing market is cooling off? New residential construction and the number of permits issued for building homes both fell in May.The number of housing starts fell for the

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Homeowners See 12-Month Equity Gain of $64K

Rising home prices keep pushing up equity for homeowners. The average homeowner gained about $64,000 in equity from the first quarter of 2021 to the first quarter of this year, according to a new

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Millions of Homeowners May Be Underinsured

Homeowners’ insurance premiums have climbed by 34% in some states, according to a new study by QuoteWizard, a site operated by LendingTree. What’s more, increases in home prices and

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Turnkey Homes Are in Demand

Many developers believe that turnkey homes—high-end, furnished, predecorated homes that allow buyers to easily move in—are what home shoppers want nowadays. The trend is taking root in

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Why 75% of Americans Say They Don’t Like Their Neighbor

Many Americans say they aren’t happy with their neighbor, whether it’s due to “weird vibes,” noise, or rudeness, finds a new survey of more than 1,500 consumers from

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Rent Jumps by Nearly 20% in 2 Years

Rental prices are rising fast and, as leases come up for renewal, tenants may be shocked by just how much. A new report from realtor.com® shows that rental prices rose by nearly 20% from March

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Listing Prices Hit Highest Median Ever

Listing prices rose to a median of $405,000 in March, an all-time high, according to realtor.com®’s latest Monthly Housing Trends Report. However, economists say that buyers may soon see

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Nearly 6K Homes Sold $100K or More Above Asking

Home buyers continue to drive up home prices in bidding wars, and some are willing to offer six figures above the asking price to beat the competition. In the U.S., 5,897 homes sold for at least ,

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Buyers’ Wants Are Changing

The size of new homes is increasing as the pandemic continues and home shoppers look for more space to spread out. The average size of a new home has risen to 2,524 square feet, the National

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Young Adults Move Back Home in Record Numbers

As the pandemic caused by COVID-19 has continued, more young adults have chosen to move back home with their parents. In 2020, the share of young adults aged 25 to 34 living at home rose to the

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Housing Market Predictions for 2022

The housing market is a complicated machine with close connections to the U.S. economy. Changes in one will affect the other, and vice versa. Because these two entities are connected so closely,

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Expect an Unseasonably Hot Winter for Home Sales

This winter is expected to be unseasonably hot for the housing market.“Compared to other past winter seasons, this winter season’s sales activity will be stronger,” says Lawrence

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Tenant Sticker Shock: Some Rents Surge 40%

Many tenants are seeing steep increases in their rents, a reversal of the trend during the early phase of the pandemic as urbanites moved to suburbs and exurbs.As they return, they’re seeing

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Hot Home Trend: The Accent Wall Is Back

Make a bold statement with just one wall. The accent or statement wall is coming back as a home trend in 2021, says Brian Santos, director of education for Fresh Coat Painters, a nationwide painting

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Rising Demand Pushes Rents to Double-Digit Growth

Rents are rapidly rising across the country. The U.S. median rental price jumped 11.5% year over year in August to $1,607 per month. That is the first time in two years that the rental market has

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Property Taxes Are About to Rise

Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes to climb higher in 2021 than the 4%

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What if Your Sellers Have Nowhere to Go?

They may need to enter into a leaseback agreement with the buyer while searching for another property, but there can be unforeseen risks if the contract isn’t structured carefully.For sellers,

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Affordability Drives More Family Members to Buy Together

More family members are moving in together under one roof, a trend that may help many better compete in the ultra-hot housing market. With record-high home prices still climbing, family members who

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New-Home Sales Tumble as Building Contracts Slow

Sales of newly built single-family homes continued to decline in June as some builders slowed sales contracts to manage supply-chain challenges and more potential buyers became priced out.

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Mortgage Costs Grow 20 Times Faster Than Incomes

Housing affordability continues to decline as the hot real estate market fuels skyrocketing prices. Incomes aren’t keeping pace with the higher prices.The median family income rose by 1.2% in

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Housing Moving Past Pricing Peak, But Inventory Still Low

The rate of home price growth has started to slow, and the competition for homes may be showing some signs of easing somewhat.“The market’s topping out,” Mark Zandi, chief

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More than 8 of 10 Homes Sold at or Above List Price

With a low supply of homes for sale, sellers are finding quicker sales and fetching higher offers. Eighty two percent of homeowners who sold in the last six months accepted offers at list price or

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Half of Homes Sell Above List Price

Home buyers are facing relentless competition in the housing market, driven by low mortgage rates and inventory. According to the latest REALTORS® Confidence Index, based on real estate

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Soaring Lumber Prices Add $36K to Average New-Home Price

Buyers who purchase newly constructed homes are paying more not only because of intense competition in the market but also surging lumber prices. Record-breaking growth for the cost of lumber is

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Marijuana Biz Fueling Real Estate Demand

The marijuana business is growing, and companies are in need of properties to accommodate, but inventories and regulations are tight in places where it’s legal.Commercial real estate

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Advantages First-Timers Have Over Repeat Buyers

Even as home prices rapidly escalate, many first-time home buyers—a group economists long feared would be priced out of the market—are finding they actually have advantages over repeat

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Helping Clients and in a Low Inventory Market

Troy Thiel, CEO of The Thiel Team of Keller Williams Realty, Kirkland, Wash., recently witnessed a $700,000 listing sell for $900,000 in the Seattle area—and his isn’t the only market

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Helping Clients in a Low Inventory Market

Thiel and his wife, Karen Thiel, work as a team helping clients find the best house at their budget. The Thiels’ area of Seattle faces a lot of complications when it comes to housing. With all

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New-Home Buying Rush Likely to Continue in 2021

More house hunters—particularly move-up buyers—are being drawn to new-home construction in the COVID-19 pandemic, so much so that it’s driving a surge in construction across the

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Cost vs. Value: 2020 Home Improvement Projects With the Highest ROI

Curb appeal really does have a major impact on the return you'll see at resale. Among the top 10 home improvement projects with the highest return on investment (ROI) in Remodeling magazine's

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High-Priced Loans More Likely to Be in Forbearance, Study Says

As of Dec. 1, about 2.8 million homeowners are in a forbearance plan due to the COVID-19 pandemic. Homeowners who are struggling to make mortgage payments can request from their lender a pause or

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Sellers Likely to Keep Market Advantage Next Year

Buyer competition remains strong, and low inventory is pushing home prices to new highs—so sellers are likely to keep their market advantage next year, according to realtor.com®’s

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Buying Frenzy Heats Up in Second-Home Market

Homes are selling much quicker than they did a year ago, and sales of resort and second homes are no different. “Properties are moving fast,” Gay Cororaton, senior economist and director

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Fall Home Sales Surge Ahead of Normal Patterns

Home sales and home prices are increasing by double digits, with homes flying off the market in record time. Existing-home sales increased for the fourth consecutive month in September, up

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