Real estate has been the sole road to wealth for many of the world’s billionaires. Overall, there are 256 billionaires in the world whose main business is in real estate—up by 17 a year ago, according to the Hurun Global Real Estate Rich List 2020.China is the leader at 137, 54% of the international total, the report shows. Hong Kong is home to the most real estate billionaires.Meanwhile, the U.S. boasts 34 real estate billionaires, or 13% of
The IRS has moved the federal tax day to July 15, but in preparation, there are several things real estate pros can do to lower their tax bill. Many agents and brokers classify themselves as self-employed under federal tax guidelines. Income tax, therefore, is not automatically withheld from paychecks and generally must be paid through quarterly estimated tax payments.Self-employed status means that real estate pros may be eligible to deduct thei
The first round of stimulus checks is expected to reach Americans on Wednesday, and consumers are already making plans for how they plan to use the funds. More than one in four—or 28%—of about 1,000 Americans surveyed said they’ll use their check to cover rent and mortgage costs, according to a survey from Creditful, a personal finance resource.Millennials are the most likely to use their checks for housing, the survey finds. They plan to u
The IRS extended more tax deadlines to cover individuals, trusts, estates, corporations, and more, including deadline extensions for both 1031 like-kind exchanges and opportunity zone investments. Both programs are to help spur economic growth in communities. The National Association of REALTORS® advocated for both extensions.Last month, the IRS had announced that taxpayers have until July 15 to file and pay 2019 federal income taxes. The origin
Could less-dense cities grow in popularity? The housing market saw some shifts in March as a global pandemic struck the U.S. and prompted stay-at-home orders across cities and states.Realtor.com®’s monthly top 20 list for March “is not fully reflective of the effect of the coronavirus,” says Javier Vivas, director of economic research at realtor.com®. “We’re still about a month away from seeing how supply and demand are going to play
The amount of property taxes levied on single-family homes last year totaled $306.4 billion, up 1% from the year prior, ATTOM Data Solutions reported Thursday. Most homeowners faced a higher tax bill in 2019, averaging $3,561 per home—or an effective tax rate of 1.14%--although that varied considerably from county to county.Nevertheless, “the nationwide increase was the smallest in the last three years, a sign that cities, towns, and counties
As more people spend time inside, indoor air quality is becoming a pressing issue. Here are a few tips from experts recently highlighted at Curbed.com.Use the vent when cooking. “One of the big things we’re starting to understand a little more is the problems with cooking,” Adriano L. Martinez, an environmental lawyer who tweets about air quality issues as @LASmogGuy, told Curbed.com. “A hood and fan that siphons toxic fumes out of y
How are you handling the many changes hitting the real estate industry? Some of the trends we saw in 2019 are shaping the year ahead. Let’s take a deep dive into the state of the market—from where it has been to where it’s going—so you can leverage the data to fine-tune your business strategy for 2020 and beyond.Market Trends: A Year in Review Currently, there are about 48 million residential units on the market, with 43% being multifamil
You know client retention is key for the future health of your business. While there’s always potential to turn buyers into repeat customers, the promise is even greater with sellers—many of whom will be in the market immediately to buy a new home. So, how can you make sure sellers will want to enlist your services for the next purchase transaction? Applying these six tips to your daily practices will help ensure your sellers return
Building owners and homeowner association boards aren’t legally required to disclose if a tenant tests positive for COVID-19, real estate attorneys say. But they say city laws are changing quickly and COVID-19 disclosure requirement disclosures could change too.Many landlords are reportedly telling tenants when a case of a COVID-19 infection surfaces in their buildings, even though they're not required to do so. Some are sending emails or a mem
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