The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

How lenders can prepare for increasing regulatory pressures

As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Real Estate

Better walkability means higher home prices

Put on those walking shoes

Across the U.S., homes that are built within walking distance of schools, shopping, parks and other urban amenities sell for an average of 23.5%, or $77,668, more than comparable properties that are car-dependent, according to a study from Redfin. (There’s a similar premium for proximity to public transportation.)

To determine walkability and what it’s worth, Redfin compared sale prices and Walk Score rankings for nearly 1 million homes sold last year across 16 major U.S. metropolitan areas and two Canadian cities.

As it turns out, walkable homes are a hot commodity. Redfin found that only about a quarter of active listings are considered walkable, or have a Walk Score ranking of 50 to 100.

“Properties that are more affordable are seeing the most demand and price growth right now, and homes in less walkable neighborhoods often fall into this category,” Redfin chief economist Daryl Fairweather said. “There just aren’t as many people who can afford walkable neighborhoods. Many house hunters are also willing to move to less walkable neighborhoods in order to get single-family homes.”

For example, in Boston, walkability increased the value of a home by 29%, or $140,724, the highest premium in dollar terms of all regions in the U.S. that were analyzed.

“Boston is very flat, and one of the most walkable cities around. Parking can be difficult, so people often prefer to live near public transportation. We’ve had parking spots sell for six figures in some neighborhoods,” said April Itano, a Redfin Boston team manager. “Our public transportation is great compared to other cities, and it’s pretty easy to get by without a vehicle if you live downtown. We also have a relatively high percentage of residents who prefer to work and live in the city over the suburbs.”

To check if your town made the list, click here.

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