HOW LOW SUPPLY & HIGH DEMAND IMPACTS THE REAL ESTATE MARKET

Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights:

• The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!
• Anything under a 6-month supply is a Seller’s Market!
• There has not been a 6-months inventory supply since August 2012!
• Buyer Demand continues to outpace Seller Supply!

How Do Your Property Taxes Stack Up?

Source:  REALTOR®Mag

Daily Real Estate News 

Friday, March 03, 2017 

 

The average American household spends $2,149 on property taxes for their homes each year, according to U.S. Census data. But depending on where you live, that can vary drastically.

Read more: Questions to Ask About Property Tax

For the third consecutive year, New Jersey ranks as having the highest property taxes in the nation, according to a new report released by WalletHub. Its effective tax rate of 2.35 percent means homeowners there pay about $7,410 annually on a $316,000 home, the median sales price in the state.
On the other hand, Hawaii has the lowest property taxes in the nation. At just a 0.27 percent effective tax rate, annual taxes on a median price home in Hawaii at $515,300 comes to about $1,406 a year.
WalletHub’s research team culled Census data on real estate property taxes in analyzing all 50 states and the District of Columbia. It divided the median annual property tax payment for the state by the state’s median home price.
The five states with the lowest property taxes (based on the effective real estate tax rate):

1. Hawaii
2. Alabama
3. Louisiana
4. Delaware
5. District of Columbia

The five states with the highest property taxes (also based on the effective tax rate):

1. New Jersey
2. Illinois
3. New Hampshire
4. Connecticut
5. Wisconsin

View the property tax ranking of your state.

Source: WalletHub

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Source: “2017’s Property Taxes by State,” WalletHub (March 1, 2017)