10 Cities That Have Changed the Most

10 Cities That Have Changed the Most
Article by Daily Real Estate News | October 23, 2017

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The city of Austin, Texas, has been named the “most changed” in the country over the last decade, with the most dynamic transformations to its housing market, incomes, crime rates, and economy compared to any other large U.S. metro, according to a new analysis by MagnifyMoney, a subsidiary of LendingTree. In fact, several Texas cities topped the list of most evolved economies and housing markets in the last 10 years.

MagnifyMoney analyzed data from 2006 to 2016 for the 50 largest cities, factoring in commute times, incomes, housing prices, crime rates, and building permits, among other items. “Change isn’t necessarily a good or bad thing,” MagnifyMoney notes in a report on its findings. “Big growth in commute times and rents can be negative, but they can also be a function of positive developments like job and income growth. Similarly, places without as much change could be more attractive to people working their way up the salary ladder or those who are retired and living on fixed incomes, offering more affordable housing and less congestion.”

The following cities topped MagnifyMoney’s list as seeing the most dramatic change over the past 10 years:

  1. Austin, Texas
  2. Dallas-Fort Worth, Texas
  3. Houston, Texas
  4. Nashville, Tennessee
  5. Portland, Oregon
  6. Denver, Colorado
  7. Raleigh, North Carolina
  8. San Antonio, Texas
  9. Charlotte, North Carolina
  10. San Jose, California

Other cities have stayed virtually the same over the past decade, with Birmingham, Ala., being the least changed—falling on the bottom of MagnifyMoney’s list of 50 most changed cities. These metros rounded out the bottom five: Milwaukee (number 49), New Orleans (number 48), Buffalo, N.Y. (number 47), and Indianapolis (number 46).

See if your city ranked at the top or bottom of the “most changed” in the nation.

Source: “This Place Sure Has Changed: Which Cities Have Changed the Most?” MagnifyMoney.com (Oct. 19, 2017); REALTOR® Magazine Online, Daily Real Estate News 102317


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Lenders Loosen Down Payment Requirements

Lenders Loosen Down Payment Requirements
Article by Daily Real Estate News; November 18, 2013

Lenders’ tight underwriting standards have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening up a bit.

The average down payment on a 30-year, fixed-rate mortgage fell 2.74 percent from the second quarter to 15.73 percent of the home’s value in the third quarter, according to a new report from LendingTree.

“Lenders are putting more focus on purchase mortgages and are adjusting minimum requirements to attract borrowers,” says Doug Lebda, LendingTree founder and CEO. “With home values improving, the risk of borrowers defaulting on loans has decreased, giving lenders more confidence to lend with less cash down from qualified borrowers.”

According to LendingTree, the states with the highest home values are also where down payments remain the highest percentages of the property price.

The states with the highest down payments are:

  • New Jersey: 18.8%
  • California: 18.6%
  • New York: 18%
  • Washington, D.C.: 17.9%
  • Massachusetts: 17.5%

Meanwhile, the states with the lowest average down payment in the third quarter were:

  • Nebraska: 12.5%
  • South Dakota 12.8%
  • Arkansas 12.9%
  • Alabama: 12.9%
  • Missouri: 13.1%

Source: “Mortgage Lenders Reportedly Accepting Lower Down Payments,” Credit.com (Nov 15, 2013); Daily Real Estate News (111813) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee