5 Cities Where Homes Are Flying Off the Market

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: FOMC Meeting: Setting the Pace for Future Rate Hikes Next: For Renters, Some States are Friendlier Than Others The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / 5 Cities Where Homes Are Flying Off the Market The Best Markets For Residential Property Investors 2 days agocenter_img in Daily Dose, Featured, Magazine, Market Studies, News Days on Market Homebuyers Homes Hot Markets HOUSING Median Values sellers 2018-03-20 Radhika Ojha Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for DS News. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer. 5 Cities Where Homes Are Flying Off the Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe About Author: Seth Wellborn Servicers Navigate the Post-Pandemic World 2 days ago Even though the story more often than not seems to point to a housing and inventory crisis, this doesn’t mean that every metro area in the U.S. is facing fast sales and low inventory. In fact, according to data from Realtor.com, there are plenty of areas that aren’t facing the same inventory problems as the rest of the country.Nationally, homes are staying on the market for lesser timeframes. The study found that the median number of days on the market hit a low of just 60 days in 2017. “[Such] info can give home buyers an idea of how much competition they face, how limited homes are in the market, and how quickly they need to make a decision if they find a home they like,” said Danielle Hale Chief Economist of realtor.com. “In a really hot market, you can probably sell your home without making updates. But if you make updates, your home is more competitive.”San Jose, California, and Seattle, Washington are the fastest-selling metro areas, despite the skyrocketing home prices on the West Coast. While homes stay on the market for a median of just 28.6 days in San Jose in Seattle it takes a little more time at 34.1 days. With a slightly more 38.2 median days on the market, Salt Lake City, Utah took the third place on this list followed by Denver, Colorado and Nashville Tennessee to round up the five cities with the hottest markets.On the opposite end of things, the Claremont, New Hampshire and Brownsville, Texas top the list of highest number of days on the market, with the median number of days at 129.4 and 124.9 respectively. Low-income levels and rising unemployment in these regions leave the pricier homes sitting for longer times in these areas, especially in Brownsville. Homes in Salisbury, Maryland sat on the market for around 124.9 days, followed by Rocky Mount, North Carolina with 123 median days on the market, and Pittsfield, Massachusetts where homes typically are on the market for 121.6 days. March 20, 2018 2,325 Views Tagged with: Days on Market Homebuyers Homes Hot Markets HOUSING Median Values sellerslast_img read more

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Congressional Field Trip: New Legislative Group Paddles the Clinch

first_imgA caucus of congressmen engaged in teasing banter, occasionally splashing each other with their paddles, as they kayaked down the Clinch River in mid-July.The afternoon paddling adventure in St. Paul was part of the Virginia Legislative Sportsmen’s Caucus’ first weekend field trip (they’d had a muddy ATV roller coaster ride through some of the town’s 100 miles of mountain view trails that morning), and it was up to The Nature Conservancy’s Clinch Valley program director to make a good impression.Between the joking and the fun, Brad Kreps interjected St. Paul’s selling points, highlighting the Clinch River and soon-to-come State Park—hopefully with the congressmen’s support.“The Clinch is a national treasure,” Kreps said. “It has one of the highest populations of rare species in the country.”The Field Trip—Why St. Paul?Less than 1000 people live in St. Paul, Virginia. So why did the caucus decide to take their very first field trip to a town barely one square mile in size?The answer—Kreps. Taking the caucus paddling on the Clinch River created the opportunity to discuss the national importance of the river and the economical opportunities the recreational hotspots in the area have to offer.“We want to have a conversation about recreation that’s good for the economy and the environmental resources we have in the region,” he said. It’s important “to protect and restore the river…that can connect with supporting local communities.”St. Paul’s been looking for new business opportunities, since its coal mining industry isn’t what it used to be.“Production and jobs associated with the coal industry have been on the decline,” Kreps said. “There’s this need for economic diversification.”The Western Front Hotel—where the caucus’ members stayed during their trip—and the Clinch Life Outfitters saw the opportunity to profit from St. Paul’s surrounding natural treasures.General manager of the hotel, Catrina Mullins, said the boutique place, which opened this year, is planted in a hotspot for recreation, located right by the river.“I’m self-proclaiming this as a resort destination,” she said.For Donna Johnson, owner of the river outfitters, business has doubled this year. She said the company went from having one bus to two, and is looking to get a third soon.“We’re always booked,” she said.State Sen. Emmett Hanger, R-Augusta, said he, along with all those who participated in the field trip, are interested in supporting the construction of the Clinch River State Park. The General Assembly already approved $2.5 million for the first phase of the park in 2016.The ParkKreps said the finished park will run along the Clinch, which begins in Tazewell County and travels through Russell, Wise, and Scott counties and ends up in Tennessee.“Our vision is to have anchor properties 300 to 400 acres in size on the river large enough to eventually have things like campgrounds and visitor centers,” he said.These properties will be prime locations to use on multi-day paddling trips.“If there’s an opportunity with [the State Park], we’ll work with it,” Johnson said.Johnson’s outfitter company and the hotel are only two examples of jobs that will benefit from the State Park.During the construction phase, they’ll be engineering, architectural and carpentry jobs, then the permanent park staff and seasonal employees, Kreps said.And they’ll be “indirect economic benefits and jobs related to the park…when people coming to visit buy food, fishing licenses, tackle, gas…” he said.mussels in the clinch riverThe RiverAfter their paddle along the river, the congressmen rested their sore muscles while they learned about the mussels they’d help release a little later.More than 40 species of mussels call the river home. Twenty of those are listed as federally endangered.Take the golden riffleshell—the Clinch River is the only place in the world where it can be found. Its species became almost completely extinct after an oil spill that leaked into the river in 1998.Earlier this year, 700 captively grown golden riffleshells were released into the Clinch River in an effort to save the species. The animals are key to water cleanliness and quality.“The mussels are cleaning the water for free for us,” Kreps said.Not only are mussels little Brita filters, but they’re also full of fascinating personality.“Mussels have developed an ingenious way to attract fish species,” Kreps said. “Some of the mussels will create an appendage off of them that looks like a little fish.”A host fish will bite on the appendage as if it’s bait, he said. That’s when baby mussels explode off of their mother and attach themselves to the fish like parasites.The parasites “live and grow on the fish for a period of time,” he said. “That’s how [mussels] move around a lot.”They use the fish as a transportation device, developing a key relationship between the two creatures.There are also more than 130 species of fish in the Clinch, according to Kreps.“Most of the fish are the little guys—shiners, sculpins, darters—they’re incredibly beautiful,” he said.The Caucus—What’s Behind the Members’ Love for the Outdoors?“When you’re behind a screen 24/7, it’ll get you out,” said Del. Chris Hurst, D-Blacksburg. “Out here…I don’t have to look at my phone. I can’t answer…political drama.”For Hurst, the outdoors is an escape from a job that seems to follow him almost everywhere he goes. For Del. James Edmunds, R-Halifax, it’s a passion—he grew up on a farm and hunted and fished often.“I have an explorers heart,” he said.Speaking to the caucus’ field trip, Edmunds said, “We get to hang out in areas we talk about but never see.”The caucus is made up of bi-partisan delegates and senators who share the common goal of protecting and promoting outdoor sports in Virginia, such as hunting and fishing.“It’s a non-partisan issue,” Del. Todd Pillion, R-Washington, said, grinning at Democratic Party’s Hurst. “Everyone can support outdoor recreation.”last_img read more

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Investors call for action after Brazilian mining disaster

first_imgThe Church Commissioners for England and the Church of England Pensions Board (CEPB) have been joined by the Council on Ethics for Sweden’s AP1, AP2, AP3 and AP4 funds, Dutch pension giant APG, the UK’s LGPS Central and New Zealand Super, as well as several asset managers. The Church of England is leading calls from institutional investors for a global independent public classification system to monitor the safety risk of “tailings” dams linked to mines, after a collapse in Brazil killed 100 people.More than 200 people are missing following the collapse of the dam in Brumadinho in the south east of Brazil on 25 January.The dam was an embankment used to store by-products of iron ore mining operations, and its collapse resulted in mudslides that engulfed local communities. The human toll was accompanied by potential contamination from the red iron ore waste that swept across the countryside.The Mina Feijão operation in Brumadinho is owned by Brazil’s largest mining company, Vale. “We have lost confidence in the sector’s ability to regulate itself on this issue”John Howchin, AP funds’ Council on EthicsThe group has proposed that the new classification system for safety risk should be independent of mining companies and require annual audits of all tailings dams, as well as verification that the highest corresponding safety standards were being implemented. All reporting should be made public through a database accessible to communities, governments, civil society and investors. John Howchin, secretary general of the Council on Ethics, said: “We have lost confidence in the sector’s ability to regulate itself on this issue. The consequences when something goes wrong are clear. We will be working with other investors to insist the necessary steps are taken.”Adam Matthews, director of ethics and engagement for the CEPB, said: “These failures of tailings dams should not be happening. These are not black swan events.“An independent classification system will ensure that communities, workers and investors know the safety standards of tailings dams are in place and if they are being applied. This proposal will drive a new level of accountability and transparency within the mining sector.”The group is planning to convene a meeting of international industry experts and major investors in the sector. This will take place in London, chaired by David Urquhart, Bishop of Birmingham.All shares in Vale held within the Church Commissioners’ and CEPB’s portfolios – worth £10m (€11.4m) in total – were disposed of shortly after the disaster occurred.Institutional investors have previously called for change at mining corporations including Vale following a similar disaster in Brazil in 2015.The CEPB said it has engaged for some years in ongoing dialogue with mining company senior staff in relation to the companies’ role in society. It has also “heavily engaged” with commodities giant Glencore on climate, and health and safety.last_img read more

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