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“House-rich, cash-poor” sounds like the title of a country song. After all, how can someone be rich and poor at the same time, unless they’re fighting some poetic struggle in a twangy ballad? Well, it all comes down to how much you have tied up in your home, compared with how much you have in your pocket.

‘House-rich, cash-poor’ explained in real numbers

Being house-rich and cash-poor means you have more equity locked into the value of your home than you have in liquid assets.

Leon Goldfeld, co-founder of the New York–based real estate brokerage startup Yoreevo, breaks down how the house-rich, cash-poor scenario can play out:

You have a debt-to-income ratio higher than 40%, which means your homeownership expenses take up over 40% of your income. (As a general rule, it’s best to not spend more than 30% of your income on living expenses.)Your home equity makes up more than 80% of your total net worth.You have less than six months in cash reserves to cover your total monthly expenses if the need arises.

 

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How to price a home in a seller’s market may be a question that’s top of mind if you’re listing your home. Much of the United States right now is a seller’s market—which spells potential for major profits. Lucky you!

However: Some sellers may see this as an opportunity to set the bar high—maybe too high—when it comes to their list price. Others may decide on a lower asking price, in hopes of generating a bidding war.

So which pricing strategy works best in a seller’s market? Every approach has its pros and cons, so here’s how to determine the best one for you.

First, assess the landscape

Before you go about setting your list price, you’ll want to survey your area to see whether you’re truly in a seller’s market, says Seth Lejeune, a real estate agent with Berkshire Hathaway in Collegeville, PA.

With major highways running through it, the township offers easy access to schools, shopping and medical care: ‘There’s something for everyone.’

Dan Raymond and Casey Juntila

Rapidly rising rents recently nudged Dan Raymond and Casey Juntila to wonder if they should try to buy a house instead.

“We looked around and realized [rent was] the same as a mortgage, even with the inflated rates and higher home prices,” Raymond recalls.

The couple, who are engaged, work as researchers at the University of Michigan in Ann Arbor and wanted to live in the suburbs. Yet while they could swing a monthly mortgage payment, they hadn’t amassed much savings to put toward a down payment or closing costs. As a result, their house hunt dragged on for three months with no affordable prospects in sight.

That’s when their real estate agent, Charo Ledon of The Home Buyer’s Agent of Ann Arbor, suggested they consider an option that they presumed was beyond their financial reach: a brand-new house.

With major highways running through it, the 38-square-mile township offers easy access to schools, shopping and medical care: ‘There’s something for everyone.’

With major highways running through it, the 38-square-mile township offers easy access to schools, shopping and medical care: ‘There’s something for everyone.’

In this week's Pulse, we're wondering: What sure signs of bad leadership should not be ignored? How can you recover from a toxic leader?

Rule No. 1: “You don’t have to just have a plain-Jane green plant.” But here’s what you do have to do — to find the right plant and maintain it.

Whether taking that promotion, expanding their business, getting a broker’s license or trying to prepare everyone for a different financial reality, here are some tips agents can use to communicate better with their families.

Being really honest with yourself and asking these key soul-searching questions can help you determine whether making a move is right for you at this particular moment in your life, author and coach Darryl Davis writes.

Whether you call it TBG or the blame game, it has an insidious effect on your business, writes team leader Carl Medford. The longer it's allowed to fester, the more damage blame will cause to team unity and morale, along with client confidence and trust.

The white-labeling program, zavvie Power Buyer, was announced exclusively to Inman and will include two models: contingency-free (cash offer) financing and a buy-before-you-sell bridge loan.

Getty Images / Realtor.com

The Hot Springs, AR, house where Bill Clinton grew up is available for a modest $345,000. The listing marks the property’s first time on the public market.

But the 3,708-square-foot home, known as the Birnbaum-Shubetz House, needs an update.

This six-bedroom abode is listed on the National Register of Historic Places—a designation that could afford certain tax credits.

Clinton lived in the house during his teenage years, from 1954 to 1961, the period when he first identified his political aspirations. He would go on to become the governor of Arkansas and the 42nd U.S. president.

The short-term rental platform posted $1.9 billion in profits and $8.4 billion in revenue in 2022, a 40 percent surge from a year earlier, according to executives during a full-year and 4Q earnings call Tuesday afternoon.

Realtor.com

It’s not often that a castle pops up on the Pacific Northwest rental market—but that’s exactly the case for this five-bedroom chateau in Sequim, WA.

Nestled on a family-owned, 200-acre farm, the 6,000-square-foot living space comes fully furnished. Highlights include a steam shower, a wood-burning fireplace, luxury linens, and spare mattresses for up to 20 guests.

Available for $7,000 a month or $1,000 a night (with a two-night minimum), the Gate Keepers Castle has easy access to the Olympic Discovery Trail and Miller Peninsula State Park.

Water views

Realtor.com

Realtor.com

With a private dock and new kitchen, this 4,353-square-foot home hugs nearly 200 feet of Tampa Bay’s waterfront and enjoys unobstructed views.

The midcentury modern dwelling comes with a distinguished architectural pedigree: It was designed by Frank Lloyd Wright protege Sanford Goldman.

The St. Petersburg, FL, property is on the market for $7,800,000.

“The house is an iconic piece,” says listing agent Jason Maniecki, of All Pro Realty Network.

The three combined teams add 20 agents with more than 4,500 real estate transactions under their belts to Livian's roster, according to the company.

After a brutal Q3 in a rapidly shifting market, Opendoor has significantly slowed down its pace of home acquisitions.

Photo-Illustration by Realtor.com; Photos: Getty Images (2)

Homebuyers aren’t receiving much love this Valentine’s Day.

Mortgage interest rates are expected to remain uncomfortably high as the housing market barrels toward the spring buying season. The culprit? Inflation.

The U.S. Federal Reserve is expected to keep hiking its own rates to bring down inflation by cooling the economy. But inflation isn’t coming down without a fight. It was up 6.4% year over year in January, according to the government’s consumer price index released on Tuesday. While it was down from 6.5% in December, it didn’t fall as much as many investors had hoped.

That means the Fed is likely to keep raising its rates, which should lead mortgage rates, which are separate, to also go up.

HGTV

Former “Teen Mom” star Chelsea DeBoer has been glamming up homes across Sioux Falls, SD, on her new show, “Down Home Fab,” and the results are, well, very her.

“I like cowhides, painting things black,” she says of her signature aesthetic.

While this style might work fine on many of the ranch-style homes in her hometown, we are seriously worried in the latest episode, when she’s tasked with making over a traditional Craftsman home.

In “Cozy Craftsman,” she and her husband, Cole, agree to remodel a 1920s house for clients Danny and Kansas. The couple and their eight children are trusting the DeBoers with an $80,000 budget, and you can’t help but be a little nervous for them when Cole confesses, “This is our first Craftsman-style home.”