Homie Highlight: Roy Fuñe

Title: Buyer’s Agent

As a Buyer’s Agent, Roy specializes in helping families and investors find the right property for their next home or investment.

Roy’s Background

Roy was born in Key West, Florida and raised in Washington DC. He left the DC area when he joined the Air Force in 1979, following in the footsteps of his father and becoming the third generation in his family to serve in the military. Roy left the Air Force as a Captain after 13 years of service and went on to get his PhD and build a career in IT Management.

Over time he realized he needed to work with more people and less code, and ultimately decided to get his Nevada real estate license after making a really good investment supported by a VA loan. He wanted to help other families make good real estate investments and especially to help veteran families leverage the VA loan opportunities available to them.

When Roy is not working with veterans and real estate investors, he’s either with his family of six grown up kids or you’ll find him practicing Reiki or Tai-Chi as he’s a master in both as well as a black belt in two martial arts. Roy is also a passionate real estate and travel photographer and a licensed commercial drone pilot. Follow him on LinkedIn to connect with him.

Why Homie?

Roy says, “Homie understands the problems with the current real estate industry.” Roy joined Homie because he wants to help families save as much money as possible when making the biggest purchase in their lives. He believes in the real estate model Homie is building, “we’re kicking the status quo to the curb and redefining the real estate model to better serve our customers.”

Roy embraces our company values and just like we have his back, he’ll have your back!

Selling Your Home? Do You Know What It’s Worth?

Our pricing specialist can help you with that! Request a home valuation report from Homie by clicking this link. Fill out the form, and Jaime along with our team of local Homie agents will put together a free multi-page report to give you the perfecting starting point for pricing your home.

Join the Disruption

If you want a career you love, want to help change the lives of others, and want to join a company in disrupting the real estate industry, check out careers at Homie!

Want to learn more about what Homie real estate agents do for their clients? Click here.

Read more highlights.

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Homie Highlight: Gabriela Lopez
Homie Highlight: Chris Fryer
Homie Highlight: Jaime McAlarnis

Source: homie.com

10 Cities Where Black Americans Fare Best Economically

Where Black Americans Fare Best Economically – 2021 Study – SmartAsset

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Nationwide, when it comes to wealth and personal finance success, Black Americans generally have less. Census data from 2019 shows that the median Black household income is 33% lower than the overall median household income and the Black homeownership rate is 22 percentage points lower than the general homeownership rate. Data on wealth accumulation depicts even starker disparities: Black families’ net worth is 87% lower than that of white families and 33% lower than that of Hispanic families, according to the Federal Reserve’s 2019 Survey of Consumer Finances.

Though the national picture is less than encouraging, economic outcomes for Black Americans are better in some places than others. In this study, we determined the cities where Black Americans fared best economically leading up to 2020. We compared 129 cities across six metrics: median Black household income, Black homeownership rate, Black labor force participation rate, poverty rate for Black residents, percentage of Black adults with a bachelor’s degree and percentage of business owners who are Black. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below.

Key Findings

  • Six of the top 10 cities are located in Texas, Florida and North Carolina. These cities are Grand Prairie and Garland, Texas; Pembroke Pines and Miramar, Florida; and Charlotte and Durham, North Carolina. In both of the Texas and Florida cities, the median Black household income is higher than $61,000 and the Black homeownership rate is 46% or higher – compared to study-wide averages of about $43,000 and 35%, respectively. Meanwhile, Charlotte and Durham rank particularly well for our education and metro area business ownership metrics. In both North Carolina locales, more than 30% of Black adults have their bachelor’s degree and at least 3% of businesses are Black-owned – compared to study-wide averages of about 23% and 2%, respectively.
  • Preliminary 2020 estimates show that Black Americans have been disproportionately affected by not only the health impacts of COVID-19, but also its corresponding economic effects. The regional economic effects of COVID-19 on Black Americans are difficult to determine due to insufficient localized data, but the available national data paints a grim picture: Bureau of Labor Statistics (BLS) data shows that as of December 2020, the Black unemployment rate was 3.9
    and 3.2 percentage points higher than the white and overall unemployment rates, respectively. Additionally, the Black labor force participation rate was about 2.0 percentage points lower than both white and overall participation rates.

1. Virginia Beach (tie)

Virginia Beach, Virginia ranks in the top 10 cities for four of the six metrics we considered. It has the seventh-highest median Black household income, at roughly $65,600, and the sixth-highest 2019 Black labor force participation rate, at 78.7%. Additionally, Census Bureau data shows that the 2019 poverty rate for Black residents in Virginia Beach is 10%, fourth-lowest in our study. In the Virginia Beach-Norfolk-Newport News metro area, more than 5% of businesses are Black-owned, the seventh-highest percentage for this metric overall.

1. Grand Prairie, TX (tie)

Grand Prairie, Texas ties with Virginia Beach, Virginia as the city where Black Americans fare best economically. It has the fourth-highest Black labor force participation rate (at 79.9%) and the lowest Black poverty rate (at less than 5%) of all 129 cities in our study. Additionally, more than a third of Black residents in Grand Prairie have their bachelor’s degree and the median Black household income is more than $63,000. The city ranks sixth and 10th out of 129 for those two metrics, respectively.

3. Aurora, IL (tie)

Aurora, Illinois ranks in the top third of all 129 cities for five of the six metrics we considered, falling behind only for its metro area’s relatively low concentration of Black-owned businesses. It has the fourth-highest Black homeownership rate (about 52%), sixth-highest median Black household income (about $65,900) and 10th-lowest Black poverty rate (11.9%). Aurora’s Black labor force participation rate is 73.5%, ranking 15th overall for this metric. Moreover, more than 29% of Black residents in the city have their bachelor’s degree, ranking 26th overall.

3. Pembroke Pines, FL (tie)

Just north of Miami, Florida’s Pembroke Pines ties for the No. 3 spot. Across all 129 cities, it has the second-highest Black homeownership rate – 60.20% – and the sixth-lowest 2019 Black poverty rate – 10.6%. Additionally, incomes for Black households are relatively high. In 2019, the median Black household income was about $61,500, the 11th-highest in our study.

5. Miramar, FL

The Black homeownership rate in Miramar, Florida is the highest in our study, at 68.07%. This is about 26 percentage points higher than the 2019 national Black homeownership rate, which is approximately 42%. Miramar additionally ranks in the top 15 cities for three other metrics: its high median Black household income (about $66,300), its high Black labor force participation rate (74.1%) and its relatively low Black poverty rate (7.9%).

6. Charlotte, NC

Though the median Black household income in Charlotte, North Carolina – at a little more than $46,300 – is relatively low, Charlotte ranks in the top third of cities for the other five metrics we considered. It has the 28th-highest Black homeownership rate (41.45%), the 18th-highest Black labor force participation rate (73.0%) and the 14th-lowest poverty rate for Black residents (13.6%). Additionally, more than 30% of Black adults have their bachelor’s degree and almost 4% of businesses in the larger Charlotte metro area are Black-owned – both of which rank within the top 25 out of all 129 cities in the study.

7. Garland, TX

The Black homeownership rate in Garland, Texas is the fifth-highest in our study, at 50.98%. This city has the 11th-highest Black labor force participation rate, at 75.8%. It also ranks in the top 15 for its median Black household income ($60,030) and the percentage of Black adults with a bachelor’s degree (32.5%). Garland falls the most behind when it comes to the poverty rate for Black residents, which was 23.7% in 2019. That’s 1.2% higher than the national average for Black Americans and the worst of any city in our top 10.

8. Durham, NC

Only about two hours northeast of Charlotte, Durham, North Carolina takes the eighth spot on our list. The city ranks particularly well for its percentage of Black adults with a bachelor’s degree (35.2%) and percentage of Black-owned businesses in the larger Durham-Chapel Hill metro area (4.7%). Additionally, the Black labor force participation rate is the 30th-highest across all 129 cities in the study, at 69.4%. The poverty rate for Black residents is 35th-lowest overall, at 18.9%.

9. Enterprise, NV

Enterprise, Nevada had the fifth-highest 2019 Black labor force participation rate (79.0%), the 16th-highest 2019 median Black household income (about $58,500) and 23rd-best 2019 Black homeownership rate (roughly 43%) of all 129 cities in our study. Enterprise falls behind, however, when it comes to the number of Black-owned businesses in the larger Las Vegas metro area, at less than 2%. The city ranks 67th out of 129 for this metric.

10. Elk Grove, CA

The median household income for Black residents in Elk Grove, California is a little more than $76,300, the second-highest in our study (ranking behind only Rancho Cucamonga, California, where the median household income is almost $92,000). Elk Grove also ranks in the top 10 cities for its relatively high Black homeownership rate (52.51%) and the relatively high percentage of Black adults with a bachelor’s degree (35.1%). But like in Enterprise, Nevada, few businesses in the Elk Grove area are Black-owned. Annual Business Survey data from 2018 shows that less than 2% of employer firms in the greater Sacramento-Roseville-Arden-Arcade metro area are Black-owned.

Data and Methodology

To find the cities where Black Americans fare best economically, SmartAsset looked at the 200 largest cities in the U.S. Only 129 of those cities had complete data available, and we compared them across six metrics:

  • Median Black household income. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Black homeownership rate. This is the number of Black owner-occupied housing units divided by the number of Black occupied housing units. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Black labor force participation rate. This is for the Black population 16 years and older. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Poverty rate for Black residents. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Percentage of Black adults with a bachelor’s degree. This is for the Black population 25 years and older. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Percentage of business owners who are Black. This is the number of Black-owned businesses with paid employees divided by the number of businesses with paid employees. Data comes from the Census Bureau’s 2018 Annual Business Survey and is at the metro area level.

To determine our final list, we ranked each city in every metric, giving a full weighting to all metrics. We then found each city’s average ranking and used the average to determine a final score. The city with the highest average ranking received a score of 100. The city with the lowest average ranking received a score of 0.

Editors’ Note: SmartAsset published this study in celebration and recognition of Black History Month. Protests for racial justice and the outsized impact of COVID-19 on people of color have highlighted the social and economic injustice that many Americans continue to face. We are aiming to raise awareness surrounding economic inequities and provide personal finance resources and information to all individuals.

Financial Tips for Black Americans

  • See if homeownership makes sense. The Black homeownership rate is 22 percentage points lower than the general homeownership rate. Deciding whether or not to buy is often difficult. SmartAsset’s rent or buy calculator can help you compare the costs to see which one makes sense for your financial situation. Additionally, if you want to figure out how much you can afford to buy a house, our home-buying calculator will help you break down the target price for your income.
  • Some kind of retirement account is better than none. The Federal Reserve says that Black Americans are less likely to have a retirement account than white Americans. According to their 2019 Survey of Consumer Finances, 65% of white middle-aged families have at least one retirement account, while only 44% of Black families in the same age group have one. Even though 401(k)s are a popular retirement plan because employers could match a percentage of your contributions, an IRA could also be another great opportunity to boost your savings. In 2021, the IRA contribution limit is $6,000 for people under 50 and $7,000 for people age 50 and older.
  • Consider a financial advisor. A financial advisor can help you make smarter financial decisions to be in better control of your money. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors, get started now.

Questions about our study? Contact us at press@smartasset.com.

Photo credits: ©iStock.com/monkeybusinessimages, ©iStock.com/LeoPatrizi

Stephanie Horan, CEPF® Stephanie Horan is a data journalist at SmartAsset. A Certified Educator of Personal Finance (CEPF®), she sources and analyzes data to write studies relating to a variety of topics including mortgage, retirement and budgeting. Before coming to SmartAsset, she worked as an analyst at an asset management firm. Stephanie graduated from Williams College with a degree in Mathematics. Originally from Philadelphia, she has always been a Yankees fan and currently lives in New York.
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Source: smartasset.com

Britney Spears Calls This $7.4 Million Thousand Oaks Mansion Home

Britney Spears ruled the late 90s and early 2000s pop scene with hits like Baby One More Time, Oops!… I Did it Again, and Toxic. In fact, she has sold over 100 million records worldwide, including over 70 million solely in the United States, making her one of the world’s best-selling music artists — which rightfully earned her the title of Princess of Pop.

And while her crown has often been challenged by contenders like Katy Perry, Lady Gaga or Ariana Grande, if there’s one thing we can agree on, it’s that Britney is as resilient as they come. Despite the many ups and downs in her personal life and being the center of the media circus ever so often, she continues to be a timeless icon.

Thanks to Hulu’s latest documentary, Framing Britney Spears, the limelight is once again on the pop star’s life and conservatorship, as well as the way in which both the media and the public have treated her during her struggles. One thing’s for sure: the documentary, and its depiction of the media’s mistreatment of the pop icon, is also a well-deserved slap on the wrist to tabloid junkies everywhere for enabling the gossip media industry to tear down celebrities and revel in their humiliation. Right after the Framing Britney Spears premiere, the phrase “We are sorry, Britney” started trending on Twitter, with thousands of tweets showing appreciation and support for the pop star and apologizing to Spears for the public’s role in her difficulties.

Britney Spears performing in Las Vegas. Image credit: Rhys Adams via Wikimedia Commons.

While the #FreeBritney campaign is far from over, a judge recently denied a request by her father to exert more control over her finances. He will continue to work with the private trust company, Bessemer Trust to manage Britney’s finances. It’s all about small victories at the end of the day. After Hulu, Netflix also plans to release a documentary on the singer’s life. We suppose there’s no better time than now to take a closer look at the pop star’s life and home.

Britney Spears’ mansion in Thousand Oaks

Britney Spears bought her latest home — a Neoclassical Italianate Style mansion — in 2015. She paid a whopping $7.4 million for the home, which proudly sits in Thousand Oaks. Located in between Los Angeles and Santa Barbara in Ventura County, Thousand Oaks is nestled against the Santa Monica Mountains, and is recognized as one of the most desirable places in all of California to live, work, recreate, and raise a family.

Reminiscent of a beautiful Italian villa, the 13,264 square feet home sits on 21 sprawling acres of private land and is hidden away by two private gates. Needless to say, the pop star takes her privacy and security very seriously. But the lucky few that do walk through the gates will feel like they’ve been transported to beautiful Italy. Bellissimo!

The estate has beautiful manicured lawns, a rear motor court with access to a six-car garage, flowering gardens, an infinity pool, a stand-alone spa and an orchard. There’s also a lighted tennis court and a three-hole golf course on the estate’s grounds, giving the pop star tons of options for spending quality time outside.

Britney Spears’ house in Thousand Oaks, Calif. Image credit: Luxury Architecture.

Inside Britney’s house

If the exterior of the house seems grand, just wait until you see what’s inside. The entrance has a marbled floor, massive pillars, and floor-to-ceiling windows that let in plenty of natural light.  Talking about ceilings — this home features 35-feet high ceilings that give the whole place a palatial feel. There’s also a large black marble fireplace where the star can cozy up with boyfriend Sam Asghari.

A grand staircase leads to the second floor where there are five bedrooms and eight bathrooms. The master bedroom has an enviable closet perfect for a world-famous pop star. What’s a celebrity home without a killer view, you ask? Well, the views of the LA skyline and Santa Monica mountains from Britney’s home are spectacular, to say the least. Even the wood-paneled library overlooks the mountains making it the perfect reading nook.

Inside Britney Spears’ house in Thousand Oaks. Image credit: Berlyn Photography
Inside Britney Spears’ house in Thousand Oaks. Image credit: Berlyn Photography

Neither Britney nor Sam shy away from showing their affection for one another. They often surprise each other with delicious home-cooked meals so it’s perfect that they have a massive open kitchen with moody dark wooden cabinets and a large center island. The house also a wine cellar that can accommodate 3,500 bottles, so bring on the romance! The couple also spends a lot of time in their media and game room. We can only imagine how handy those rooms were during the quarantine.

Inside Britney Spears’ house in Thousand Oaks. Image credit: Berlyn Photography

The couple loves to enjoy the Californian sun in the luxurious infinity pool. In fact, they have a 1,200-square-foot poolside pavilion with its own full kitchen, 3,500-bottle wine cellar, and bath, so no one has to leave the pool party. The grounds even have a tennis court, a separate spa, and a three-green golf course with sand traps.

Britney’s pool house. Image credit: Berlyn Photography

To see more of Britney’s house, go to the star’s Instagram profile

If you really want to get up, close, and personal with the Toxic singer, check out her Instagram feed. She often posts videos of herself dancing, working out, cooking, and even painting in her grand home. Britney has come a long way from her modest childhood home in Kentwood and we love that she gives fans a glimpse of her life and her home in all its glory!

Lead image credit: Property photo – Zillow.com, Britney headshot – Drew de F Fawkes via Wikimedia Commons.

More celebrity homes

Beyoncé Lives in a Bel-Air Mansion Fit for Royalty
The Story of Taylor Swift’s Holiday House — Home to “the Last Great American Dynasty”
Spotlight On: the Razor House — Alicia Keys’ Crazy New Mansion
Where Does Lady Gaga Live? See Inside Her ‘Gypsy Palace’ in Malibu

Source: fancypantshomes.com

15 Cities With the Oldest Populations

Happy seniors exercising with hula hoops
Rawpixel.com / Shutterstock.com

This story originally appeared on Filterbuy.

One of the most impactful demographic trends across the United States in the coming decades will be the growth in the population aged 65 and older.

Much of the country is graying as more baby boomers, who were until 2019 the U.S.’s largest generational cohort, reach retirement age. The boomers — more than 73 million Americans born between 1946 and 1964 — began hitting retirement age more than a decade ago and will continue to age into the 65-and-up bracket until the end of the 2020s.

Thanks to advances in health care and medicine, these older Americans are projected to live longer on average than their predecessors. According to the U.S. Census Bureau, by 2030 those aged 65 and older will constitute more than 20 percent of the U.S. population, and they are projected to remain between one-fifth and one-quarter of the U.S. population through at least 2060.

The U.S. is already seeing signs of these effects. A wave of retirements will leave labor shortages in some industries, while many of the occupations with the greatest growth potential are in health and social services, driven by the elderly’s greater need for care.

Experts believe that GDP growth is likely to slow as a result of lost productivity and increasing costs of care. Government social insurance programs like Medicare and Social Security have seen their expenditures balloon as more retirees shift from paying into the system to receiving benefits from it. Nationally, within states, and at the community level, the U.S. will continue to experience the socioeconomic implications of an increasingly older population.

To find the cities where these trends will be most apparent, researchers at Filterbuy used 2019 Census data to identify which metro areas have the largest share of residents over 65. The researchers also found the city-level old-age dependency ratios as well as the percentage of the senior population with a disability to understand where the burdens of care might be even higher.

Here are the large cities (those with 350,000 residents or more) with the largest percentage of the population 65 and older.

15. Wichita, KS

Wichita, Kansas
Gary L. Brewer / Shutterstock.com

Percentage of population 65 and older: 14.4%

Total population 65 and older: 55,352

Percentage of population 65 and older with a disability: 37.7%

Old-age dependency ratio: 24.0%

14. Jacksonville, FL

Jacksonville, Florida
Sean Pavone / Shutterstock.com

Percentage of population 65 and older: 14.4%

Total population 65 and older: 127,758

Percentage of population 65 and older with a disability: 35.9%

Old-age dependency ratio: 22.8%

13. Baltimore, MD

Baltimore
f11photo / Shutterstock.com

Percentage of population 65 and older: 14.4%

Total population 65 and older: 84,165

Percentage of population 65 and older with a disability: 38.5%

Old-age dependency ratio: 22.3%

12. Tulsa, OK

Tulsa Oklahoma
Valiik30 / Shutterstock.com

Percentage of population 65 and older: 14.7%

Total population 65 and older: 58,686

Percentage of population 65 and older with a disability: 33.4%

Old-age dependency ratio: 24.8%

11. Las Vegas, NV

Las Vegas neighborhood with desert hills beyond.
Christopher Boswell / Shutterstock.com

Percentage of population 65 and older: 14.8%

Total population 65 and older: 95,394

Percentage of population 65 and older with a disability: 34.9%

Old-age dependency ratio: 24.4%

10. New York, NY

New York City coastline
IM_photo / Shutterstock.com

Percentage of population 65 and older: 15.0%

Total population 65 and older: 1,242,566

Percentage of population 65 and older with a disability: 34.6%

Old-age dependency ratio: 24.0%

9. Colorado Springs, CO

Colorado Springs, Colorado
photo.ua / Shutterstock.com

Percentage of population 65 and older: 15.1%

Total population 65 and older: 70,512

Percentage of population 65 and older with a disability: 31.3%

Old-age dependency ratio: 23.6%

8. New Orleans, LA

New Orleans, Louisiana at night
f11 photography / Shutterstock.com

Percentage of population 65 and older: 15.3%

Total population 65 and older: 59,203

Percentage of population 65 and older with a disability: 35.9%

Old-age dependency ratio: 24.0%

7. Virginia Beach, VA

Ritu Manoj Jethani / Shutterstock.com

Percentage of population 65 and older: 15.4%

Total population 65 and older: 65,405

Percentage of population 65 and older with a disability: 31.2%

Old-age dependency ratio: 23.3%

6. Tucson, AZ

Tucson
Chris Rubino / Shutterstock.com

Percentage of population 65 and older: 15.5%

Total population 65 and older: 82,197

Percentage of population 65 and older with a disability: 38.8%

Old-age dependency ratio: 23.7%

5. Louisville, KY

Louisville, Kentucky
f11photo / Shutterstock.com

Percentage of population 65 and older: 15.6%

Total population 65 and older: 95,530

Percentage of population 65 and older with a disability: 34.8%

Old-age dependency ratio: 25.5%

4. San Francisco, CA

San Francisco, California
IM_photo / Shutterstock.com

Percentage of population 65 and older: 15.9%

Total population 65 and older: 139,273

Percentage of population 65 and older with a disability: 34.2%

Old-age dependency ratio: 22.7%

3. Albuquerque, NM

Albuquerque, New Mexico
BrigitteT / Shutterstock.com

Percentage of population 65 and older: 16.2%

Total population 65 and older: 90,429

Percentage of population 65 and older with a disability: 33.4%

Old-age dependency ratio: 26.5%

2. Mesa, AZ

Mesa, Arizona
Tim Roberts Photography / Shutterstock.com

Percentage of population 65 and older: 16.5%

Total population 65 and older: 85,337

Percentage of population 65 and older with a disability: 31.9%

Old-age dependency ratio: 28.5%

1. Miami, FL

Miami
Kamira / Shutterstock.com

Percentage of population 65 and older: 17.5%

Total population 65 and older: 81,251

Percentage of population 65 and older with a disability: 34.6%

Old-age dependency ratio: 27.1%

Methodology & Detailed Findings

Working on computer data analysis on a laptop
Gorodenkoff / Shutterstock.com

Researchers used the most recent population data from the U.S. Census Bureau’s 2019 American Community Survey 1-Year Estimates. Cities were ranked according to the percentage of the population 65 and older. Researchers also calculated the total population 65 and older, the percentage of the population 65 and older with a disability, and the old-age dependency ratio for each city.

For relevance, only cities with at least 100,000 residents were included in the report, which grouped them into cohorts of small, midsize, and large metros.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Source: moneytalksnews.com

15 Cities Where Homes Are Selling the Fastest

COVID-19 has brought tremendous volatility to many economic sectors, and one area where the effects have been felt most strongly is real estate.

In most areas, the onset of the pandemic last spring temporarily brought the real estate market to a standstill. Economic uncertainty was high as businesses shut down, making both buyers and sellers hesitant to enter the market, while stay-at-home orders and health and safety fears made it harder to arrange showings, inspections, and in-person meetings during the closing process.

As time has gone on, however, demand in the real estate market has picked up in a dramatic way. With the transition to working and schooling from home, families are increasingly seeking out homes with more space and amenities. Moreover, government efforts to stimulate the economy have kept interest rates low and provided relief to households through expanded unemployment benefits and direct payments. Simultaneously, shifts in consumer behavior have pushed savings rates higher over the last year. This combination of factors has given more buyers the desire and the means to look for homes.

Despite this, increased demand from buyers has not been met with an equal willingness of homeowners to sell. Some would-be sellers remain worried about risking COVID-19 exposure from tours and showings, but economic conditions may be the main reason why current homeowners are opting to hold onto their properties. For example, the same low interest rates that are enticing prospective buyers also make it easier for homeowners to refinance and stay put. Since selling one house frequently means buying another, sellers may look at a competitive market with many buyers and decide to avoid the hassle.

The overall effect is a market with unusually constrained supply of homes for sale. Real estate inventory usually shifts on a seasonal basis, dropping in the winter and picking up in the warmer months. COVID-19 interrupted these trends when the pandemic emerged in March. Inventory held flat during the spring but began to decline soon after. By December 2020, the number of active listings on the market was nearly 40 percent lower than at the same point in 2019.

Limited supply has affected sales in two major ways: first, prices are much higher, and second, homes are flying off the market. As with inventory, time to close usually follows seasonal patterns, with sales taking longer in the winter and less time in the warmer months. And here again, COVID-19 had a strong impact: sales were unusually slow after stay-at-home orders took effect but accelerated again over the course of the year. The median number of days a home spent on the market in the last quarter of 2020 was more than 15 percent lower year-over-year than the same period in 2019.

And as with all real estate, location matters. Demand—and with it, the speed of sales—are especially high in Western and Southwestern states that have been experiencing the highest rates of population growth. This includes the three states where homes are selling the fastest: Washington, Nevada, and Arizona.


Continue reading “15 Cities Where Homes Are Selling the Fastest”

How to earn 10x on select dining reservations and takeout with your Chase Sapphire card

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10 States With the Largest Tax Bills

Stressed accountant doing taxes
Elnur / Shutterstock.com

This story originally appeared on SmartAsset.com.

Tax time is taxing, especially if you owe money to the IRS. Complex questions can lead taxpayers to seek out a tax preparer or a professional financial advisor to minimize their tax liabilities.

But with this year’s delayed filing season officially under way on Feb. 12, those who underpaid on their taxes throughout last year stand to get slapped with a hefty tax bill.

Some places, though, are much worse off than others when it comes to the tax sticker shock they can anticipate. That’s why SmartAsset decided to examine which states have the largest tax bills.

To do this, we analyzed IRS data for all 50 states and the District of Columbia across two metrics from 2018 (the latest year available): the number of tax returns with underpayments and the total amount underpaid in taxes. This is SmartAsset’s third study on the states with the largest tax bills. Check out the 2020 version here.

For details on our data sources and how we put all the information together to create our final rankings, you can read more in the data and methodology section at the end.

Following are the states with the largest tax bills.

1. North Dakota

Fargo, North Dakota
Jacob Boomsma / Shutterstock.com

North Dakota is the U.S. state with the largest tax bill. For 2018 tax returns with underpayments, North Dakota taxpayers owed $7,247 on average.

Approximately 75,500 tax returns with underpayments were filed in 2018, and the total amount underpaid was more than $547 million.

2. Massachusetts

Springfield, Massachusetts
Sean Pavone / Shutterstock.com

In 2018, Massachusetts had $5.43 billion in underpaid taxes, the eighth-highest amount for this metric in the study and the fourth-highest in the top 10.

The state had just over 782,600 tax returns filed with underpayments in 2018. Of those tax returns, the average taxpayer owed more than $6,942.

3. District of Columbia

Washington D.C.
f11photo / Shutterstock.com

IRS data shows that Washington, D.C., had 86,370 tax returns filed with underpayments in 2018. That totaled almost $596 million in underpaid taxes, with the average taxpayer owing $6,897.

4. Connecticut

The skyline of Hartford Connecticut, where median rents are relatively low
Sean Pavone / Shutterstock.com

For 2018 tax returns with underpayments, Connecticut taxpayers owed an average of $6,821.

The state had about 397,900 tax returns filed with underpayments that year, adding up to more than $2.7 billion in underpaid taxes.

5. Wyoming

Sheridan, Wyoming
Sandra Foyt / Shutterstock.com

IRS data from 2018 shows that Wyoming taxpayers owed more than $357 million when filing their taxes.

Almost 52,800 tax returns in Wyoming were filed with underpayments in 2018, with the average taxpayer on those returns owing $6,771.

6. Nevada

Las Vegas homes
trekandshoot / Shutterstock.com

Nevada taxpayers who filed returns with underpayments owed an average of $6,579 in 2018.

Almost 284,500 tax returns were filed with underpayments in 2018, adding up to more than $1.8 billion in underpaid taxes.

7. Washington

Olympia, Washington
Sveta Imnadze / Shutterstock.com

For 2018 tax returns with underpayments, the average taxpayer in Washington state owed $6,550.

IRS data showed that 815,600 tax returns were filed with underpayments in 2018, adding up to more than $5.3 billion in underpaid taxes.

8. California

San Jose California
Uladzik Kryhin / Shutterstock.com

California taxpayers in 2018 not only owed the highest amount of underpaid taxes in our study (about $30.9 billion), but they also filed more tax returns with underpayments that year than any other state (almost 4.75 million).

IRS data from 2018 shows that the average amount of taxes owed on those returns was $6,500 – eighth-highest in our study.

9. New Jersey

Jersey City, New Jersey
astudio / Shutterstock.com

New Jersey taxpayers in 2018 had the ninth-highest tax bill in the country, owing an average of $6,456 in taxes on returns with underpayments.

IRS data shows that 1,025,640 tax returns with underpayments were filed in 2018, adding up to more than $6.6 billion in underpaid taxes.

10. Florida

Hollywood Florida
Richard Cavalleri / Shutterstock.com

In 2018, Florida had a total of $13.1 billion in underpaid taxes.

IRS data shows that 2,045,590 tax returns are filed with underpayments in 2018, with the average taxpayer on those returns owing $6,421.

Data and methodology

Man analyzing data on a laptop
fizkes / Shutterstock.com

To find the states with the largest tax bills, we examined data for all 50 states and the District of Columbia, focusing on two metrics:

  • Number of tax underpayments. This is the number of tax returns in which taxpayers have not paid sufficient taxes on income earned, and thus owe money to the IRS.
  • Amount of underpaid tax. This is the total amount owed to the IRS on returns (as a result of income for which taxpayers failed to pay sufficient taxes).

For each state, we divided the amount of total underpaid tax (the money taxpayers owed) by the number of tax underpayments in that state. The result represents the average underpayment amount for taxpayers who underpaid on taxes throughout the year. We used this dollar figure of the average in taxes owed by state to rank the entire list from highest to lowest. All data comes from the IRS and is for 2018.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Source: moneytalksnews.com

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