The Bright MLS 2024 National Housing Market Outlook predicts that next year will bring better conditions for homebuyers. Despite the challenges posed by affordability, buyers can expect a slowdown in home price growth, lower mortgage rates, and an increase in housing options. This shift will occur as life events prompt current homeowners to enter the market, providing more opportunities for prospective buyers.
The Bright MLS 2024 National Housing Market Outlook forecast signals several critical developments for buyers and sellers:
Mortgage rates will establish a new standard, dipping below 7% in the initial quarter and fluctuating between 6-6.5% before landing at 6.2% by year-end.
The year’s conclusion will witness existing home sales reaching 4.6 million, marking a 12.1% surge from the historically low figures in 2023, albeit beneath the standard home sales volume in a typical year.
Evolving family and financial circumstances will increase the number of sellers entering the market, resulting in a 7.6% upturn in inventory by the culmination of 2024.
The augmented inventory and heightened buyer activity will likely maintain home prices steady, as the median home price in the U.S. will ascend by a mere 1.5% to $394,200.
Escalating affordability hurdles and an upsurge in the availability of new homes will steer home prices downward in certain markets, primarily concentrated in California and Florida.
More Home Sales in 2024
Home sales will increase next year, following a prolonged period of subdued activity. In 2023, the housing market experienced a notable decline in home sales, reaching the lowest level since 2008 because of limited inventory, heightened mortgage rates, and soaring home prices, which dampened demand, particularly in the latter part of the year.
Nevertheless, there remains substantial pent-up demand for homeownership, particularly among younger households, whose homeownership rate still lags because of previous generations. Lower rates and increased inventory will drive the anticipated influx of buyers in 2024. However, affordability will remain a significant challenge, potentially deterring some prospective buyers from entering the market in 2024.
Stable Home Prices
The housing market will likely experience relatively stable home prices in 2024, with a modest 1.5% increase in the median home price in the U.S. compared to 2023. Factors like inventory offset by a rise in the number of buyers in the market will drive the projected growth in home prices.
Overall, the median home price in the U.S. will grow modestly, rising to $394,200 in 2024, a 1.5% increase over 2023.
Affordability Remains a Challenge
In 2024, the U.S. housing market will not experience widespread price corrections. However, certain local markets have seen rapid price increases, posing affordability challenges for potential buyers. Additionally, some metropolitan areas have witnessed a surge in new construction activity.
This surge and decreased affordability may lead to price declines in particular markets nationwide. Based on an analysis of price growth, affordability, and construction trends, 10 of the 50 largest metro areas are forecasted to have lower median prices in 2024 compared to 2023. Notably, California and Florida dominate the list of regions with forecasted price declines, although no market is anticipated to experience a double-digit price drop next year.
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The National Association of Realtor’s (NAR) Pending Home Sales Index dipped 1.0 percent to 83.0 in March, down from a revised 83.8 in February, and was off 20.1 percent from March 2007.
The real estate group launched the PHSI in 2001, and a reading of 100 is equal to the sales rate seen during that year.
NAR chief economist Lawrence Yun noted in a statement that home sales activity will likely continue to be flat in the coming months, but should improve during the summer.
He said the first half of the year will be soft and that it would take more time for the much touted conforming jumbo loans to make more of an impact.
Along those same times, NAR President Richard F. Gaylord noted that many potential homeowners are interested, but waiting on the sidelines as credit conditions continue to restrict purchases.
Gaylord added that many buyers were waiting to obtain affordable financing in high cost regions, but many were finding that lending requirements were still too stringent.
NAR said the average 30-year fixed-rate mortgage is expected to rise gradually to 6.2 percent by year-end, and then climb to 6.3 percent in 2009.
The group expects existing home sales to rise from an annual pace of 4.95 million in the first quarter to 5.82 million in the fourth quarter, with a total of 5.39 million sales in 2008 and 5.72 million next year.
Yun concluded that more than fifty percent of local markets are expected to experience price growth in 2008, but that the aggregate existing-home price will decline 2.4 percent as the market grapples with oversupply.
As the sun-soaked capital of Arizona, Phoenix isn’t just a bustling metropolis in its own right. It’s also surrounded by a ton of stellar suburbs, each offering its own unique flavor and charm.
From luxury enclaves to tech hubs to serene family-friendly neighborhoods, the Phoenix suburbs described below provide great options for every lifestyle. This article dives into the crème de la crème of the Phoenix suburb scene, providing insights into what makes each spot stand out in the heart of the Southwest.
Population: 242,753
Average age: 47.7
Median household income: $97,409
Average commute time: 22.9 minutes
Walk score: 32
One-bedroom average rent: $2,024
Two-bedroom average rent: $2,984
In the picturesque landscape of Phoenix suburbs, Scottsdale stands out as an oasis of luxury, art and outdoor activities. With world-class golf courses that would make any link lover’s heart race, upscale shopping districts that can satiate even the most discerning shopper and restaurants that range from gourmet to eclectic, Scottsdale is the epitome of suburban elegance.
Three great apartment complexes in Scottsdale
But it’s not all about the glitz and glam. This Phoenix suburb supports an array of outdoor activities, from the scenic trails of McDowell Sonoran Preserve to horseback riding under the vast Arizona sky. Dive into Scottsdale and discover what makes this Phoenix suburb a crown jewel of the Southwest.
Population: 279,458
Average age: 36.7
Median household income: $91,299
Average commute time: 24.9 minutes
Walk score: 35
One-bedroom average rent: $1,785
Two-bedroom average rent: $2,000
Among the constellation of Phoenix suburbs, Chandler shines brightly with its unique blend of tech-driven progress and laid-back Southwestern charm. As the hub of the Silicon Desert, Chandler boasts a growing technology industry, attracting innovators and professionals eager to make their mark.
Three great apartment complexes in Chandler
What sets Chandler apart in the lineup of Phoenix suburbs is its commitment to balancing urban sophistication with hometown warmth. From high-end shopping centers to local farmers markets and from cutting-edge theaters to the annual Ostrich Festival, this Phoenix suburb ensures residents never have a dull moment.
Population: 273,136
Average age: 34.5
Median household income: $105,733
Average commute time: 27.1 minutes
Walk score: 29
One-bedroom average rent: $1,747
Two-bedroom average rent: $1,991
Once known as the “Hay Shipping Capital of the World,” Gilbert has grown exponentially, trading hay bales for innovative businesses and growing communities. Gilbert is a shining example of how a city can expand without losing its historic charm.
Three great apartment complexes in Gilbert
Dive deeper into what Gilbert offers among Phoenix suburbs, and the picture only gets rosier. It’s a haven for families, thanks to its top-rated schools and pristine parks. And for those craving some sun-soaked adventure, there are outdoor concerts, farmers markets and green spaces where residents can relax. In the vast sea of Phoenix suburbs, Gilbert floats to the top and provides an unbeatable mix of the past, present and future.
Population: 509,475
Average age: 36.2
Median household income: $65,725
Average commute time: 25.4 minutes
Walk score: 38
One-bedroom average rent: $1,360
Two-bedroom average rent: $1,637
As the third-largest city in Arizona, Mesa doesn’t merely ride the coattails of its size. It’s an epicenter for aerospace ventures, higher education institutions and tech enterprises, making it a hotspot for those with an eye on the future. Yet, with the backdrop of the majestic Superstition Mountains and access to the shimmering Salt River, Mesa ensures that residents are never too far from Arizona’s captivating wilderness.
Three great apartment complexes in Mesa
But wait, there’s more that sets Mesa apart from other Phoenix suburbs. The city prioritizes fun and adventure, evident in its sprawling golf courses, thrilling water parks and extensive trail systems. Add to that a healthy selection of restaurants, cozy cafes and ritzy retreats, ensuring that every culinary whim is always catered to.
Population: 12,682
Average age: 54.9
Median household income: $203,659
Average commute time: 24.5 minutes
Walk score: 14
One-bedroom average rent: $2,050
Two-bedroom average rent: $2,100
The name itself evokes images of a dreamy haven, and Paradise Valley doesn’t disappoint. Famed for its upscale estates and celebrity residents, Paradise Valley offers a level of opulence seldom seen elsewhere. Breathtaking mountain views, especially from the vantage point of Mummy Mountain or Camelback Mountain, serve as daily reminders of the stunning natural beauty Arizona has to offer.
Three great apartment complexes near Paradise Valley
But Paradise Valley is not just about grandeur in the Phoenix suburbs landscape. It strikes a harmonious balance between luxury and leisure. Championship courses call to all golfers, while swanky resorts offer an oasis of relaxation and rejuvenation. Dining here is an experience unto itself, with a ton of gourmet restaurants tantalizing the taste buds.
Population: 249,630
Average age: 33.8
Median household income: $60,499
Average commute time: 28.0 minutes
Walk score: 40
One-bedroom average rent: $1,299
Two-bedroom average rent: $1,650
Recognized as Arizona’s Antique Capital, Glendale offers a delightful stroll down memory lane with its historic downtown, where boutiques and eateries provide a nostalgic setting for casual shopping and good conversation. Yet, this Phoenix suburb isn’t just about looking back; it’s also home to the State Farm Stadium, where adrenaline-pumping Cardinals games and massive concerts ignite the spirits of thousands.
Three great apartment complexes in Glendale
Switching gears, Glendale wears another feather in its cap in the Phoenix suburbs scene as a premier destination for events and festivals. From chocolate fests that satiate the sweet tooth to hot air balloon shows painting the sky, there’s always something happening in this dynamic corner of the desert.
Population: 194,917
Average age: 40.3
Median household income: $81,017
Average commute time: 29.4 minutes
Walk score: 30
One-bedroom average rent: $1,555
Two-bedroom average rent: $1,776
Peoria is an adventurer’s paradise with the sprawling Lake Pleasant Regional Park in its backyard, offering the perfect setting for water-based activities all set against the backdrop of the sun-kissed Arizona landscape. On land, Peoria’s P83 District is where the action’s at, boasting a ton of dining options, bars and events that keep the energy up year-round.
Three great apartment complexes in Peoria
But Peoria doesn’t stop at fun and games in the world of Phoenix suburbs. It’s also a beacon for those seeking a serene suburban life, characterized by beautifully master-planned communities and top-tier educational institutions. Couple this with a forward-thinking local government and an engaged community, and it’s clear why Peoria consistently ranks high on the desirability scale.
Population: 149,191
Average age: 41.9
Median household income: $76,623
Average commute time: 30.7 minutes
Walk score: 21
One-bedroom average rent: $1,525
Two-bedroom average rent: $1,825
Expectations run high with a name like Surprise, and this Phoenix suburb delivers in spades. From the city’s Spring Training baseball games to its well-maintained parks, there’s an avenue for everyone to feel the rush or simply unwind.
Three great apartment complexes in Surprise
But there’s another layer to Surprise that distinguishes it in the Phoenix suburbs roster. It’s a growing hub for education and healthcare, boasting some of the region’s top schools and hospitals. Add to that a commitment to sustainable growth, a friendly community spirit and a diverse range of housing options, and the allure of Surprise becomes undeniable.
Population: 24,987
Average age: 59.7
Median household income: $87,080
Average commute time: 28.7 minutes
Walk score: 19
One-bedroom average rent: $3,000
Two-bedroom average rent: $2,100
Fountain Hills is a visual masterpiece, where the Sonoran Desert’s natural beauty gets a touch of architectural elegance, providing residents with panoramic views that will steal your breath away. From the rolling desert hills to the shimmering blue of Fountain Lake, it’s a treat for the senses at every turn.
Three great apartment complexes near Fountain Hills
But Fountain Hills isn’t just about aesthetic appeal. It’s also a community that prides itself on community events. The town hosts renowned art fairs, craft shows and local markets that draw both residents and visitors alike. With spacious parks, scenic hiking trails and a commitment to community engagement, Fountain Hills provides an idyllic blend of leisure and lifestyle.
Population: 90,564
Average age: 31.6
Median household income: $69,241
Average commute time: 28.4 minutes
Walk score: 26
One-bedroom average rent: $1,421
Two-bedroom average rent: $1,678
Avondale is home to the Phoenix Raceway, where the roar of engines and the thrill of nail-biting races draw legions of NASCAR fans every year. But Avondale isn’t just for the adrenaline junkies; it’s home to many parks, trails and open spaces that serve as perfect spots for family picnics, weekend strolls or quiet afternoons with a good book in hand.
Three great apartment complexes in Avondale
Yet, there’s another side to Avondale that solidifies its spot on the Phoenix suburbs’ leaderboard. Its flourishing local economy presents plenty of employment opportunities, making it an attractive place for professionals and entrepreneurs. Add in a dash of delightful restaurants, shopping areas and a community that’s warm and welcoming, and it’s evident why Avondale has become one of the go-to Phoenix suburbs for those seeking a balanced life.
Find the best Phoenix suburb for you
Navigating the Phoenix suburbs can be a journey of discovery, as each presents its distinct character and amenities. Whether it’s the allure of lakeside views, the thrill of a raceway or the serene embrace of the desert landscape, there’s a Phoenix suburb tailored for every dream and desire.
As the city continues to grow and evolve, its surrounding suburbs are sure to remain as diverse and dynamic as ever, offering residents a slice of paradise in the desert. Today’s the day to make your move to the perfect apartment for rent in one of Phoenix’s top suburbs.
Home ownership has long been the American dream and there are many tangible benefits, which include stability in housing costs and building home equity. But with the rise of home prices and interest rates, a growing number of people are finding themselves priced out of their local markets.
In situations like today, traditional products, including the 30-year fixed mortgage, may not be the best fit. That’s why prospective homebuyers should explore all options, which include Federal Housing Administration and affordable home loans. Homebuyers may not necessarily think first of these loans, but qualifying borrowers may benefit from features that are not widely available with other options. Mortgage loans are subject to credit approval — so being creditworthy makes it more likely that your loan will be approved.
Retail lender Guild Mortgageannounced Monday the acquisition of First Centennial Mortgage, a privately-held Illinois-based lender with 15 branches predominantly in the Midwest and a presence in 17 states. The terms of the deal were not disclosed.
Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment. Since December 2022, Guild has closed deals with Inlanta Mortgage, Legacy Mortgage and Cherry Creek Mortgage.
Established in 1995 by brothers Steven and David McCormick, First Centennial Mortgage offers a wide range of mortgage products, including conventional, FHA, VA building and construction, per the mortgage data platform Modex.
The company had 227 active loan officers and originated $830 million in the last 12 months. Of the total origination volume in the period, purchase mortgages accounted for 82% and refis consisted of 15%, the data shows.
“We continue to effectively execute our strategy to grow and gain market share through acquisitions where there exists a strong cultural match and the potential for value is present for both parties,” Terry Schmidt, CEO of Guild, said in a statement.
This is the first Guild acquisition under Schmidt’s leadership. She went from president to CEO when Mary Ann McGarry retired from the CEO position in late June. McGarry remained on the California-based lender’s board of directors after retirement.
Steven McCormick, president of First Centennial Mortgage, said in a statement that the company has a similar culture and platform to Guild as both focus 100% on retail, local sales and operational fulfillment.
On the back of a purchase market-focused strategy, Guild posted a net income of $36.9 million in Q2 2023, an improvement from the loss of $37.2 million in the previous quarter. Originations came in at $4.45 billion from April to June, up from $2.7 billion last quarter. According to Modex, Guild has 2,179 active LOs and 564 branches.
Schmidt said during the Q2 earnings announcement that the lender continues to execute its strategy to gain market share through organic growth and acquisitions while broader industry challenges persist due to higher interest rates and limited home inventory.
Regarding its products, Guild rolled out in June a 1% down payment advantage program that allows customers to buy a home with a minimum down payment of 1% of the purchase price. Guild will also cover 1% of the borrower’s interest rate for the first year with a lender-paid temporary buydown.
Join us on a journey through the small towns of Alaska, where wilderness meets community and adventures abound. From scenic landscapes to unique attractions, each town has its own story to tell. As we explore the charm of 12 small towns in Alaska, you’ll discover the heart and soul of Alaska’s small-town life.
1. Willow, AK
Median sale price: $332,500
Walk Score: 5
Nestled against the backdrop of majestic mountains, Willow welcomes you with its tranquil beauty and outdoor adventures. This town is known for its connection to the world-famous Iditarod Trail Sled Dog Race, where you can experience the excitement of this iconic Alaskan event. Discover the nearby Nancy Lake State Recreation Area, offering opportunities for fishing, hiking, and camping.
Homes for sale in Willow, AK
Apartments for rent in Willow, AK
2. Houston, AK
Median sale price: $215,500
Walk Score: 1
Houston, a peaceful town surrounded by Alaskan wilderness, invites you to embrace its serene atmosphere and close-knit community. The town has many outdoor opportunities, offering access to hiking trails, fishing spots, and nature reserves. Houston hosts an annual Moose Pass Summer Solstice Festival, celebrating the state’s iconic wildlife.
Homes for sale in Houston, AK
Apartments for rent in Houston, AK
3. Tok, AK
Median sale price: $100,000
Walk Score: 23
At the crossroads of Alaska’s highways, you’ll find the small town of Tok. Tok is full of quirky attractions like the Mukluk Land theme park, where you can tour unique Alaskan oddities. Residents often endure extreme weather conditions, with temperatures plummeting to -40°F in winter, requiring careful preparation and resilience.
Homes for sale in Tok, AK
Apartments for rent in Tok, AK
4. Salamatof, AK
Median sale price: $397,500
Walk Score: 6
Salamatof is a small hidden gem of Alaska. The town’s proximity to the Kenai River offers premier fishing opportunities, attracting anglers from around the world. Salamatof’s rich Native Alaskan heritage is celebrated at events like the Kenaitze Indian Tribe Powwow. With its picturesque landscapes and cultural connections, Salamatof provides a glimpse into Alaska’s extraordinary past.
Homes for sale in Salamatof, AK
Apartments for rent in Salamatof, AK
5. Farmers Loop, AK
Median sale price: $257,500
Walk Score: 4
With numerous farms and gardens, Farmers Loop has opportunities for equestrian activities and trail riding. Navigate the Creamer’s Field Migratory Waterfowl Refuge, where you can observe migratory birds and enjoy peaceful walks. Or attend one of the many local events, fostering a sense of community and connection among residents.
Homes for sale in Farmers Loop, AK
Apartments for rent in Farmers Loop, AK
6. Butte, AK
Median sale price: $1,195,000
Walk Score: 18
In the Matanuska Valley, Butte is a blend of scenic beauty and agricultural heritage. Wander around the nearby Bodenburg Butte Trail, which leads to panoramic views of the surrounding landscape. Butte’s connection to farming is celebrated at local markets and festivals, showcasing the region’s bounty.
Homes for sale in Butte, AK
Apartments for rent in Butte, AK
7. Seward, AK
Median sale price: $366,000
Walk Score: 42
A coastal gem on the shores of Resurrection Bay is the small town of Seward. The town is close to Kenai Fjords National Park, where you can witness glaciers calving into the ocean and spot marine wildlife. Seward’s bustling waterfront boasts galleries, shops, and seafood eateries. Experience the excitement of the annual Seward Silver Salmon Derby or embark on a scenic boat tour to enjoy the bay’s hidden treasures.
Homes for sale in Seward, AK
Apartments for rent in Seward, AK
8. Big Lake, AK
Median sale price: $228,000
Walk Score: 24
Big Lake, a picturesque retreat surrounded by water and wilderness, welcomes you to experience its serene beauty and recreational opportunities. The community thrives on fishing, boating, and lakeside relaxation. Journey through the Matanuska-Susitna Valley’s vast landscapes with hiking, birdwatching, and wildlife spotting.
Homes for sale in Big Lake, AK
Apartments for rent in Big Lake, AK
9. Fritz Creek, AK
Median sale price: $150,000
Walk Score: 7
Located on the Kenai Peninsula, Fritz Creek invites you to savor its rural charm and artistic spirit. The town’s creative community is reflected in its art galleries, studios, and workshops. Head to the Homer Spit for the picturesque views, fishing charters, and local seafood offerings.
Homes for sale in Fritz Creek, AK
Apartments for rent in Fritz Creek, AK
10. Anchor Point, AK
Median sale price: $247,500
Walk Score: 24
Anchor Point is the westernmost point of the North American highway system. The stunning beachscape provides opportunities for beachcombing, fishing, and enjoying panoramic views of the ocean. Explore the Anchor River State Recreation Area, offering fishing and camping along the riverbanks. Anchor Point hosts events, celebrating its close-knit community and connection to the sea.
Homes for sale in Anchor Point, AK
Apartments for rent in Anchor Point, AK
11. Lazy Mountain, AK
Median sale price: $787,100
Walk Score: 3
In the Matanuska-Susitna Valley, you’ll find Lazy Mountain, known for its iconic mountain views. Embrace the peace and beauty of the natural surroundings, whether you’re exploring trails or admiring the Northern Lights. With its breathtaking landscapes and serene atmosphere, Lazy Mountain offers a true escape into Alaska’s wilderness.
Homes for sale in Lazy Mountain, AK
Apartments for rent in Lazy Mountain, AK
12. Healy, AK
Median sale price: $250,000
Walk Score: 7
Healy is a gateway to Denali National Park, inviting you to experience its natural beauty and sense of adventure. This small town is close to North America’s tallest peak, Denali, offering opportunities for hiking, wildlife spotting, and exploring the park’s wilderness. Whether you’re marveling at the grandeur of Denali or partaking in outdoor activities, Healy captures the essence of Alaska’s rugged spirit.
Homes for sale in Healy, AK
Apartments for rent in Healy, AK
Wrapping up small towns in Alaska
The small towns of Alaska encapsulate the essence of a unique and rewarding lifestyle. Far from the urban hustle, these communities provide a haven of natural wonder and authentic human connections. Whether relishing outdoor pursuits, embracing artistic endeavors, or savoring the coastal ambiance, Alaska’s small towns hold the promise of unforgettable experiences, making them true gems within the Last Frontier’s majestic expanse.
Step into the heartwarming embrace of 12 beautiful small towns in Ohio, where history, community, and charm come together. In this article, we’ll take you on a journey through a collection of Ohio’s lesser-known treasures, each with its own distinctive character. These towns may be small in size, but their warmth and character are immeasurable. Join us as we delve into the stories and attractions that make these towns truly special.
1. Pataskala, OH
Median sale price: $375,000
Walk Score: 66
Pataskala seamlessly blends historical roots with contemporary comforts. This town offers a welcoming atmosphere where friendly faces and community events are the norm. Stroll through downtown to discover charming boutiques and local eateries, and take in the beauty of its historic architecture.
Homes for sale in Pataskala, OH
Apartments for rent in Pataskala, OH
2. Baltimore, OH
Median sale price: $310,950
Walk Score: 58
Baltimore’s serene ambiance makes it a retreat from the bustling world, offering a tranquil escape for those seeking a slower pace. Quaint streets lined with elegant homes evoke a sense of nostalgia, while local markets and festivals bring residents together. Nature enthusiasts can explore nearby parks and hiking trails, embracing the town’s natural beauty.
Homes for sale in Baltimore, OH
Apartments for rent in Baltimore, OH
3. Circleville, OH
Median sale price: $213,000
Walk Score: 72
This town’s historic downtown buzzes with local shops, showcasing the talents of artisans and entrepreneurs. From annual pumpkin festivals to farmers’ markets, Circleville embraces traditions that celebrate its spirit.
Homes for sale in Circleville, OH
Apartments for rent in Circleville, OH
4. Obetz, OH
Median sale price: $340,000
Walk Score: 43
Eclectic shops and offbeat attractions give Obetz an endearing personality, while local events add a touch of excitement to daily life. The town’s many green spaces and parks offer opportunities for leisure and outdoor recreation.
Homes for sale in Obetz, OH
Apartments for rent in Obetz, OH
5. Geneva, OH
Median sale price: $179,000
Walk Score: 63
Located along the shores of Lake Erie, Geneva is a perfect place for those seeking lakeside living. The town’s rich maritime history is reflected in its museums and nautical atmosphere. Residents and visitors alike enjoy waterfront strolls, beachside picnics, and captivating sunsets.
Homes for sale in Geneva, OH
Apartments for rent in Geneva, OH
6. Logan, OH
Median sale price: $170,000
Walk Score: 62
Logan is a nature lover’s paradise, offering a backdrop of lush forests and serene landscapes. The town’s history is intertwined with the Hocking Hills region, known for its stunning caves, waterfalls, and hiking trails. Quaint shops and local eateries provide a taste of local flavors, while cultural events celebrate the area’s artistic spirit.
Homes for sale in Logan, OH
Apartments for rent in Logan, OH
7. New Lexington, OH
Median sale price: $132,000
Walk Score: 64
Tucked away amidst rolling hills, New Lexington exudes a sense of authenticity that’s hard to come by. The town’s welcoming community embraces a laid-back pace of life, where connections are meaningful and stories are shared. Local cafes and markets invite gatherings, while the surrounding hills offer outdoor adventures like hiking, biking, and bird watching.
Homes for sale in New Lexington, OH
Apartments for rent in New Lexington, OH
8. Wapakoneta, OH
Median sale price: $160,000
Walk Score: 74
Wapakoneta shines as a town with a stellar history, being the hometown of astronaut Neil Armstrong. The Armstrong Air & Space Museum pays tribute to this legacy, captivating visitors with its exhibits and artifacts. Additionally, the annual Summer Moon Festival brings the community together for parades, concerts, and moon pie-eating contests, showcasing the town’s pride in its remarkable past.
Homes for sale in Wapakoneta, OH
Apartments for rent in Wapakoneta, OH
9. Delphos, OH
Median sale price: $158,000
Walk Score: 73
This town’s historic architecture and landmarks tell tales of generations past, while local businesses and events reflect a forward-thinking spirit. One of its unique offerings is the Delphos Canal Commission Museum, which highlights the town’s connection to the Miami and Erie Canal. Visitors can also explore Stadium Park, a picturesque outdoor space with a lake, walking trails, and a vintage carousel.
Homes for sale in Delphos, OH
Apartments for rent in Delphos, OH
10. Columbus Grove, OH
Median sale price: $128,500
Walk Score: 51
This small town in Ohio has welcoming streets dotted with local shops and eateries that exude a sense of familiarity. A strong sense of belonging is nurtured through community events, fairs, and gatherings. In Columbus Grove, residents find comfort in the everyday connections that make life truly fulfilling.
Homes for sale in Columbus Grove, OH
Apartments for rent in Columbus Grove, OH
11. Louisville, OH
Median sale price: $226,500
Walk Score: 77
Louisville weaves a colorful tapestry of traditions, making it a town that cherishes its history and embraces the future. Visitors can also explore the Louisville Constitution Center, a museum dedicated to Ohio’s constitutional history. Fun fact: Louisville is home to Haines House Underground Railroad Museum, an essential stop for those interested in the history of the Underground Railroad and its impact on the region.
Homes for sale in Louisville, OH
Apartments for rent in Louisville, OH
12. North Canton, OH
Median sale price: $248,500
Walk Score: 69
The Pro Football Hall of Fame, one of the most iconic sports museums in the world, is located in North Canton. It’s a must-visit for football enthusiasts, featuring exhibits that honor the sport’s greatest players, coaches, and moments. Looking for something else to do? The town is also home to the Hoover Historical Center, providing visitors a unique glimpse into the life of the Hoover family, known for their vacuum iconic cleaners.
Homes for sale in North Canton, OH
Apartments for rent in North Canton, OH
Wrapping up small towns in Ohio
From historic havens to lakeside escapes, these small towns in Ohio offer one-of-a-kind experiences that touch the heart and inspire a sense of belonging. In the embrace of their charm, residents find not just houses, but homes, and not just neighbors, but lifelong friends.
A landslide struck Laguna Beach’s Bluebird Canyon in 1978 — smashing cars, buckling streets and destroying 24 homes. An adjacent swath of earth broke loose in 2005, wiping out 12 more homes.
That wasn’t enough to keep Scott Tenney away. In 2010, Tenney and his wife, Mariella Simon, bought a 15-acre hillside ranch near the disaster area despite the listing warning that the property was on the site of an ancient landslide.
“We knew we’d have to do a bit of terracing and retaining, but California is what it is,” Tenney said. “It’s a dynamic place not just culturally, but geologically.”
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From an outside perspective, his might seem a confounding decision. But in Southern California it’s an extremely common one, because that geological diversity, as Tenney calls it, is not just the danger. It’s the allure.
Elevation has long been aspirational here — an escape from the urban flats.
Since settlers first started pouring in from the relative flatness of the East Coast and Midwest, they were captivated by California’s vertiginous landscape. Plein air painters flocked to capture the light of the arroyos. Health seekers sought the clean air of the San Gabriel foothills. Folk rockers found inspiration in Laurel and Topanga canyons. And the moneyed elite started building their houses higher and higher above the basin, forever seeking the trophy perch with the show-off view.
But that perch has always come at the risk of catastrophe. Homes slide into a gulch in Palos Verdes. Fires roar over the Malibu hills. A debris flow kills 23 people and destroys 130 homes in Montecito. Heavy snow traps thousands in the San Bernardino Mountains. And winter storms pull fragile bluffs into a rising sea.
These natural disasters so often occur where the tectonic plates collided and folded into beautiful vistas.
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While other regions may face only one main disaster threat — tornadoes in the Midwest, hurricanes on the Gulf and East coasts — California’s extreme topography brings siege from all sides: the ocean, the trees and brush, the sky above and the ground below. And oftentimes, the most attractive areas are some of the most dangerous.
A land of disasters
More and more people are crowding into the Wildland Urban Interface — the zone of transition between unoccupied land and human development. It’s where properties mingle with undeveloped (and often steep) land, and it’s uniquely susceptible to natural disasters.
According to the U.S. Fire Administration, this area grows by 2 million acres a year as people fan out to the edges of wilderness in search of affordable houses, more space or simply a break from life in the city. And California holds more homes in this dangerous zone than any other state in the country.
And prices keep soaring. It doesn’t matter if a house sits on stilts on the side of a cliff, if it’s a landslide complex slowly sliding toward the sea, or if it’s predicted to be knee-deep in water in a couple of generations — there will always be a buyer.
As Californians flock to risky areas, disasters take a greater toll. Over the last decade, the state has experienced 20 disasters that each cost at least $1 billion in damage from flooding, wildfire and extreme heat. Those 20 alone combined for 783 deaths, according to National Centers for Environmental Information.
According to the real estate listing database Redfin, the trend is nationwide. Last year, the country’s most flood-prone, heat-prone and fire-prone counties all saw more people move in than out. Redfin researcher Sheharyar Bokhari blames one primary factor: the housing affordability crisis.
“L.A. and most other coastal cities are expensive. With remote work becoming more of an option, people are finding they can have more space and finally afford a home if they move to riskier areas,” he said.
Bokhari said another L.A.-specific factor is development — mainly that there’s not as much being built in the city compared to the more rural areas surrounding it.
He points to the Inland Empire, which is typically more affordable than L.A. County. In Riverside County, roughly 600,000 homes face a high risk of wildfire, the most of any of the 306 high-fire-risk counties in the country. Despite that, the county’s population grew by 40,000 over the last two years.
Even if experts — and common sense — say to stay away from certain areas, Bokhari said that won’t likely happen because local governments aren’t incentivized to push people out.
“These disaster-prone cities need revenue and people paying taxes,” he said. “They just claim that they’ll be more resilient and take more safety measures going forward,” he said.
Where else would I go?
Since moving onto the ancient landslide zone, Tenney and his wife founded Bluebird Canyon Farms, which offers workshops and grows food for local markets. His time is split between that and taming the erosion-prone land beneath the farm.
To combat sliding land, Tenney installed a gravity wall, 200 feet long and 9 feet tall, to retain the hillside. In addition to grading the terrain to make the slopes gentler, he added powerful drainage systems and timber-and-concrete cribbing to keep structures in place.
The work never stops, and Tenney keeps a monthly schedule to keep up with tasks. Clear brush in spring. Clean storm drains in September. Inspect terracing every few months.
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“You can run but you can’t hide,” he said, adding that urban centers such as L.A. have their own laundry lists of things to worry about: crime, homelessness, etc. “You won’t experience a wildfire in downtown L.A., but there are plenty of other things to be concerned with.”
Cribbing systems used by Tenney have become commonplace in Portuguese Bend, a small coastal community on the Palos Verdes Peninsula situated on a slow-moving landslide complex. Land moves up to 8 feet a year, and at that rate residents would rather ride the sliding earth toward the sea than sell and move somewhere else.
“I’ll be here until I can’t be here anymore. I’ll slide away with the land,” Claudia Gutierrez told The Times in July after a nearby landslide in Rolling Hills Estates sent a handful of homes careening down a canyon.
You’d think the real estate market in disaster-prone areas would eventually slow down, but there are no deals to be found for house hunters. Longtime residents often stay put post-disaster, and incoming residents consistently pay a premium to live in a scenic, though potentially dangerous, area.
In cities tucked among the foothills of the Verdugo and San Gabriel mountains such as Altadena and La Cañada Flintridge, buying in a high-fire-risk zone might be ever-so-slightly cheaper than buying in a safer place. And buyers pounce.
“My clients try to choose low-fire-risk zones, but if the house in the fire zone is the right price, that is more important,” said Brent Chang of Compass.
When Lisa and Michael McKean got home to Malibu Park from their honeymoon on Nov. 8, 2018, they were so exhausted that they went straight to sleep. The newlyweds didn’t even bother unpacking their suitcases of swimsuits still wet with Caribbean saltwater.
When they woke up, Lisa looked out her back window and saw a 10,000-foot cloud of billowing black smoke.
The Woolsey fire was ravaging the Malibu hills.
The pair grabbed their still-packed suitcases and fled to the Zuma Beach parking lot, where they spent the day surrounded by horses, dogs, cats and neighbors all wondering if their homes would survive.
Theirs, built a year earlier, did not.
“The entire neighborhood burned,” Lisa said. “Everything was black, scorched earth.”
Devastated, the pair spent six months crunching numbers on the cost of rebuilding versus moving. The home that was destroyed had taken four years to approve and three years to build. Their next one could take even longer.
Despite the damage, and despite the ceaseless, inescapable risk of a future fire, they ultimately decided to stay and rebuild.
Cheryl Calvert has lived in Malibu since 1985 and has adapted to a life of fire. To her, the flames are nearly routine.
“Once you make it through your first one, you realize it’s manageable. But you have to plan ahead,” Calvert said.
She keeps two bags packed at all times: one full of goggles and N95 masks and one with dog supplies.
Calvert has experienced plenty of fires during her time in the coastal community, but the worst was the Corral fire in 2007. She was in the driveway as the flames arrived, and she sprayed the corner of her wooden home with a hose as it ignited. Her guesthouse and garage burned down, but the house was saved.
She never considered leaving. Instead, she became more prepared, installing an extra water tank and leaving a pair of shoes by the front door at all times for quick escapes.
“We have to do crazy things, but it’s only crazy for an hour or two every five or 10 years,” she said.
She ran down the usual list of reasons why people move to Malibu: the beautiful landscape, the ocean breeze, the sweeping views. But she said the main reason her and so many of her neighbors stay is because of the community.
“We’re all living near like-minded people who are willing to risk themselves for each other,” she said. “It’s a bunch of hippies. Rich hippies.”
The psychology of staying
A life among the trees, coasts and cliffs is often what lures Californians to disaster-prone communities, but according to experts, the factors that make them stay after a disaster strikes are much more complicated.
Age, race and class can all indicate whether someone is more or less likely to move after experiencing a disaster. For example, Zhen Cong, professor of environmental health sciences at the University of Alabama at Birmingham, found that in the wake of tornados, the middle class might be the most inclined to move since the upper class has the resources to stay and rebuild, while the lower class is often trapped and has no other choice but to stay.
Other relocation factors include the level of damage to the home and whether the person owns the place or rents. But often the most important factor is one that can’t be easily quantified: “People who have a strong sense of place and a strong sense of community are less likely to move,” Cong said.
Ironically, some disasters can even encourage people who otherwise would have left to stay.
In studying post-tornado relocation decisions across the country, Cong found that after a disaster, people increase their disaster preparedness. Part of that includes gathering supplies, but it also includes social engagement: talking to neighbors, sharing information on social media and attending meetings. That engagement, which might not happen if a tornado doesn’t strike, brings a greater sense of community, leading people to stay in that community.
Anamaria Bukvic, an assistant professor at Virginia Tech who studies coastal hazards and population displacement, found that after Hurricane Sandy struck the East Coast in 2012, non-geophysical factors mattered the most in deciding whether to stay or leave. For example, confidence in adapting to future disasters was a more relevant indicator if someone would stay than how close they lived to the ocean.
“The experience of flooding can be emotionally disturbing and traumatic,” Bukvic said. “When facing problems, some people try to avoid them. Others try to resolve them.”
She added that confidence in government plays a major role as well. If a person believes the government responded well to the disaster and will keep them safe during the next disaster, they’re more likely to stay.
That’s something that Malibu Mayor Bruce Silverstein thinks about when overseeing the city’s disaster response plan. Although L.A. County is responsible for physically fighting the fires that plague the area, Malibu has instituted a free service in which residents can request a fire-hardening expert to inspect their property to better prepare them for the next blaze.
The city also outlaws certain types of vegetation susceptible to fire and tries to prevent excessive population growth in order to make evacuation from hills and canyons easier during emergencies. It’s the main reason accessory dwelling units (ADUs) are harder to build in Malibu than L.A.
“Unlike L.A., we don’t have standards that encourage growth,” Silverstein said. “We maintain the status quo and try to keep space between properties so if one catches on fire, it doesn’t extend to the neighbors.”
Michael Dyer, a former Santa Barbara County fire chief who now serves as public safety director for Calabasas, said safety became a top priority for the city after Woolsey, energizing the community into forming multiple volunteer commissions that plan for disaster preparedness.
“We have to provide that service as a government,” Dyer said while monitoring a brush fire in Topanga from his front porch. “No one has forgotten Woolsey yet. And as long as I’m here, we won’t.”
No simple fix
As the climate crisis worsens and the Wildland Urban Interface grows in size, experts are eyeing ways to mitigate the effects of natural disasters to save both the environment and human lives.
L.A. is currently considering an ordinance that would limit development in the Santa Monica Mountains. Using recent wildfires and the Rolling Hills Estates landslide as examples, supporters said the measure would make it harder to build mansions and large hillside homes as a way to limit damage caused by disasters, as well as protect open space and wildlife.
In addition, national insurers such as State Farm and Allstate are no longer selling insurance policies in wildfire-prone areas after a series of catastrophic fires raised premiums. Without insurance, people might be disincentivized from buying and building homes in risky areas.
Redfin is also tinkering with a way to warn people of a home’s potential dangers. The company conducted an experiment in which it showed a listing’s flood risk score to certain users but not others and found that those who were shown the scores were less likely to bid on the home.
The scores have since expanded to show risk for fire, heat, drought and storms.
In the meantime, Californians continue to build, and rebuild, in disaster-prone areas. Lisa and Michael McKean, whose home burned down in 2018, moved back into Malibu Park in 2021.
As neighbors slowly filter back into the neighborhood, they walk around to measure progress and congratulate those who have returned.
“We used to hate cement trucks and jackhammers, but now we celebrate them,” Michael said. “The cheery sound of construction.”
The $800 billion stimulus bill signed into law last week will have a massive impact on refinance volume, but not so much on purchases, according to market research firm iEmergent.
The company, which provides mortgage volume forecasts, updated its 2009 forecast as a result of the bill, noting that purchase mortgage activity would increase slightly and refinance volume would jump 55 percent.
For 2009, iEmergent expects 5.125 million refinance loans valued at $916 billion, up from a previous estimate of 3.29 to 3.66 million loans valued at $575 to $640 billion.
Purchase volume is expected to total 4.415 million loans valued at $735 billion, up from 4.29 million loans valued at $707.7 billion.
“The slight increase in purchase volume reflected in the updated 2009 forecast is based on the expectation that the $800 billion stimulus spending and the recently announced “Homeowner Affordability & Stability Plan,” containing home-buyer tax credits, major initiatives focused on job creation and aggressive steps toward foreclosure prevention should produce a positive impact on the housing market during 2009,” the company said in a release.
“The projected 55 percent growth in refinance volume from iEmergent’s forecasts of five months ago is explained by the expectation that Financial Stability Plan solutions will maintain downward pressure on mortgage rates, unfreeze credit and slow the rate of home price declines as the year progresses, thereby creating a stronger refinance market.”
However, the company warned that the refinance surge could be offset by rising unemployment, consumer cynicism and uncertainty, and the eventual halt of interest-rate declines.
“Despite the variety of actions being taken to create and save jobs, reduce the number of foreclosures, thaw frozen credit markets and stabilize home prices, lenders should be prepared for volumes in many of their local markets and communities to remain weak and unstable for much of 2009. The impact of these many stimulus actions will not be instantaneous,” said Dennis Hedlund, president of iEmergent.
“It will take time to stabilize the housing mess, restore credit and re-build economic momentum. The current refinance wave is not a magic bullet for lenders. We expect refinance volumes to be very volatile throughout the year, causing many response and service problems.”
First Federal Bank will acquire the mortgage division of BNC National Bank, which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform.
The two banks announced they have signed a definitive agreement for First Federal to acquire certain assets and liabilities of BNC National Bank’s mortgage division on Wednesday. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.
The BNC platform is expected to transition to the First Federal branch within a few months of closing. Terms of the transaction were not disclosed.
Headquartered in Bismarck, North Dakota, BNC National Bank is a registered bank holding company focused on providing banking and wealth management services to businesses and consumers in its local markets.
“The Board of Directors made the decision to exit our nationwide residential mortgage origination business after extensive deliberations and concluding that this change in strategy is in the best long-term interests of the BNC, its shareholders and the communities we serve,” Michael Vekich, BNC National Bank’s chairman, said in a statement.
As with the entire mortgage industry, BNC National Bank was heavily impacted by rising interest rates last year. The bank’s production volume more than halved to $1.04 billion in 2022 from the previous year’s $2.37 billion, according to data from Modex. NMLS showed the bank has 63 registered loan officers.
First Federal expects to retain substantially all employees to its residential lending team, Paul Ottendorf, division president of First Federal, said.
First Federal Bank, a community-based mutual institution headquartered in Lake City, Florida, has assets of more than $3.6 billion, according to its website. The bank, consisting of 25 branches in the Southeast and operations in the Midwest, serves mortgage, small business administration (SBA) and USDA customers.
First Federal will serve BNC National Bank’s mortgage customers from its existing locations in Overland Park, Kansas; Moline, Illinois and Bismarck, North Dakota locations and in the Phoenix, Arizona market upon completion of the transaction.