Real Estate Digest – August 2018

Why Buying a Home in 2018 Could be a Smart Move

1Soaring home costs, low inventory and the 2007/8 housing crisis may have put some would-be home buyers on the fence. But for those who are financially ready, there are a few key reasons 2018 could be the right year to buy a home.
Read on for details.

Five Fastest Selling Cities for Residential Real Estate

2A strong job market and low housing supply are fueling demand. In April, there was a four-month supply of homes on the market. A six-month inventory is normal, according to the National Association of Realtors.
Read on for details.
 

Almost Half of Freddie Mac Mortgages in Q1 Borrowed by First-Time Home Buyers

3Recent market and mortgage conditions data indicates that more people are buying their first homes. First-time homebuyers accounted for nearly half the new mortgages issued by Freddie Mac in the first quarter of 2018, according to Bloomberg.
Read on for details.
 

Slow Sales at Home Depot Signal Warning for Housing

4The very strong housing market might be slowing down. Home Depot recently reported quarterly sales and the CEO noted, “a slow start to the spring selling season.”
Read on for details.
 
 

Homeowners Gain $1 Trillion in Home Equity

5In the past year, homeowners gained $1 trillion in home equity. Despite these gains, many homeowners with mortgages remain underwater on their home loans.
Read on for details.
 
 

Homeownership Trends Upward as Renter Households Decline

6Renter households are starting to decline. Last year, the homeownership rate rose for the first time in 13 years. Current market conditions, including rising wages and looser credit standards, make it an ideal time for people to purchase houses.
Read on for details.

Mortgage Rates Reach Seven-Year High

3In May, mortgage rates reached a seven-year high. Rates for home loans were the highest since 2011. Along with rising mortgage rates, low supply and soaring prices put a strain on the current housing market.
Read on for details.

New Home Prices Decline to 12-Month Low

4For years, homebuyers have heard that home prices are steadily increasing. However, the cost of purchasing a newly constructed home recently fell to its lowest point in the past year. From March to April, the median price of a new home plummeted by almost 6.9 percent.
Read on for details.

The Best Cities for Housing Market Purchasing Power

4Based on the current housing market conditions, on average prospective buyers across the country have less purchasing power than two years ago. In today’s market, savvy buyers in the best cities use their market purchasing power to get the most for their money.
Read on for details.

Helping Clients Celebrate Their New Home Purchase on Social Media

4It’s no secret that millennials like to share their lives on social media. So it comes as no surprise that millennials, as well as other age groups, like to post pictures of themselves with their newly purchased home.
Read on for details.

Real Estate Digest – July 2018

Top 7 Trends Affecting Residential Real Estate

1As home buying trends shift, the number of residents in metro areas across the country is expected to grow at a faster pace for at least the next two decades. Larger numbers of residents mean more housing and more attention paid to residential real estate markets.
Read on for details.

Amazon Expands Into Real Estate With Amazon Experience Centers

2In recent months, Amazon has expanded into real estate in several ways. For its most recent attempt at increasing the company’s influence on the real estate industry, Amazon announced it has partnered with Lennar, the country’s largest homebuilder, to launch what it calls “Amazon Experience Centers.”
Read on for details. <

Banks Are Walking Away from Low-Income Homebuyers

3Low- and moderate-incomes only made up 26.3 percent of borrowers in 2017, according to recently released federal data on mortgage lending from the Consumer Financial Protection Bureau. This was a decline of 10.3 percent from the 36.6 percent figure reported in 2009.
Read on for details.

Homebuyers Seeing Lower Asking Prices in Several Hot U.S. Markets

4In a handful of red-hot real estate markets across the country, asking prices are cooling off. Austin, San Antonio, and Honolulu, are three markets where median listing prices dropped significantly, according to a new report from Trulia.
Read on for details.

Housing Confidence Reaches New High As Home Prices Jump

5Consumer confidence increased to its highest level on record in April, according to a monthly sentiment index from Fannie Mae.
Read on for details.
 
 

The Best Day and Time to List a Home for Sale

6A new study from Redfin uncovered that Thursday is the best day for agents to debut new home listings. Redfin found that homes listed on Thursday were more likely to sell within 90 to 180 days. Homes also get five times more views on the first day they are listed as compared to subsequent days.
Read on for details.

Top 10 Most Affordable Places to Live in the U.S.

3Housing cost is not the only factor that determines home affordability. How much potential homebuyers earn also matters. To identify the most affordable places to live across the country, SmartAsset, a personal finance technology company, calculated the total cost of five expenses associated with owning a home.
Read on for details.

Why Americans Are Leaving Urban Cores for the Suburbs

4Americans are moving away from urban cores to lower-density suburbs and exurbs, according to a recent analysis of United States Census Bureau data. The analysis, performed by William Frey, a demographer at the Brookings Institution, established 2012 as the peak year of the urban renaissance. Since then, the growth of urban cores has declined by half while exurban county growth has quadrupled.
Read on for details.

The Best Places to Live in the U.S. for 2018

4The annual list compiled by U.S. News & World Report, a global authority in rankings and consumer advice, ranks the 125 largest metropolitan areas on a variety of characteristics. The top-ranked places are considered to have the best job prospects, quality of life, and affordability.
Read on for details.

5 Tips to Help You Get Your Client’s Asking Price

4Higher offers are better for you and your client. Limited inventory or a highly competitive market often help you get offers that are higher than your asking price. However, markets move down as well as up and the marketplace will not always accommodate your buyer’s optimistic expectations.
Read on for details.

Real Estate Digest – June 2018

Zillow’s Instant Offers Program Stirs Controversy Among Brokers

1As Zillow expands its “Instant Offers” program and vows to become a direct player in real estate transactions by buying and selling homes, brokers are taking a closer look at what these changes might mean for them.
Read on for details.

U.S. Home Prices to Rise at Double the Pace of Inflation and Wages

2U.S. home prices are expected to rise double the pace of inflation and wages this year, according to a Reuters poll. The price increases are the result of a declining supply in single-family homes coupled with rising demand.
Read on for details.

Social Media Photos Inspire Millennials to Become Homeowners

3Millennials are finally landing better jobs with higher salaries. They are starting to get married and have kids. They are also getting tired of living with their parents.
Read on for details.
 
 

Number of Multigenerational Households Surges to All-time High

4The share of multigenerational U.S. households reached an all-time high in 2016, according to a new analysis of U.S. Census Bureau data from the Pew Research Center. In 2016, the number of multigenerational households rose to 20 percent of the U.S. population, or 64 million people.
Read on for details.

Most New Home Construction in a Decade

5Buyers can finally relax as home construction rises. In February, builders completed the most newly constructed homes in a decade, according to a residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.
Read on for details.

Homeowners Migrate in Search of Lower Property Taxes

6A new report demonstrates the impact property taxes have had on migration across the country. The 2017 property tax analysis from real estate data provider Attom Data Solutions shows that Americans paid $293.4 billion in property taxes in 2017, marking a 6 percent increase over 2016. The property tax cost per home averages out to roughly $3,399.
Read on for details.

Buyers Want in on Real Estate Market Despite Mortgage Rate Increases

3Rising mortgage rates generally tend to force buyers to stay on the sidelines. This year, they may do the reverse: would-be home buyers want to get off the sidelines before it becomes even more expensive to take out a home loan, according to a new Credit Suisse survey.
Read on for details.

Foreign Investment in U.S. Real Estate Reaches New High

4Foreign investment into the U.S. has reached a new high, according to U.S. Ultra Prime Real Estate, a recent market report from Beauchamp Estates in association with Leslie J Garfield & Co. The report examined foreign investments for U.S. properties priced at $1 million or higher and included analysis by Dataloft and Trulia.
Read on for details.

Apartment Rents Remain Steady Despite New Inventory

4Apartment vacancy increased slightly to 4.7 percent in the first quarter, an increase of 0.1 percent from the fourth quarter of 2017, according to data released by Reis Inc. The vacancy rate was up 4.3 percent from one year earlier, while the average apartment rent increased by 3.9 percent.
Read on for details.

5 Tips to Generate More Real Estate Appointments Now

4It is 5 p.m. and today you only spoke with two people who brushed you off with a “Call me back next month.” Does this sound familiar?
Read on for details.

Real Estate Digest – May 2018

2019 Federal Budget Housing Outlook

1Reluctantly, on March 23, 2018, President Donald Trump signed a $1.3 trillion federal budget that will fund the government until September 30, 2018.
Read on for details.
 
 

2017 Homeownership Rate Increased In Spite of
Shortage of Homes

2Despite rumors of a housing market that is leaving growing numbers of would-be buyers behind, the homeownership rate is increasing once again.
Read on for details.
 
 

RE/MAX Set to Launch Marketing Automation Tools for Agents

3RE/MAX has announced a new service for RE/MAX agents: Design Center Automation. The service offers an easy way for agents to leverage marketing opportunities for their listings, helping them to attract more leads and referral business. The new tools are a follow-up to a refresh of the RE/MAX brand in August 2017.
Read on for details.

First U.S. Real Estate Deed Recorded Using Ethereum

4Propy Inc. has achieved a major milestone for cryptocurrency by initiating the first U.S. deed recorded using only blockchain technology. The Propy pilot project, launched in January in partnership with the City Clerk’s Office in South Burlington, Vt., used Ethereum to transact and record contracts and documents instead of using the city’s recording system. City representatives say that Vermont’s legislation allows for the flexibility to use blockchain in real estate transactions.
Read on for details.

NAR Cheers Dodd-Frank Reform

5The National Association of Realtors has announced its support for a Dodd-Frank reform bill, S. 2155 or the Economic Growth, Regulatory Relief and Consumer Protection Act, and urges Congress to pass it into law. Although the final vote was originally expected in March, it was pushed back in the Senate in order to consider the amendments.
Read on for details.

More Homebuyers Bidding on Homes Sight Unseen

6Thirty-five percent of homebuyers last year said they made an offer on a home sight-unseen, up from 33 percent in May 2017 and 19 percent in June 2016. These findings are based on a Redfin-commissioned survey conducted in November and December 2017, which reviewed responses from 1,503 homebuyers who purchased their homes within the previous 12 months.
Read on for details.

Millennials Most Active Homebuyer Group

3For the fifth consecutive year, millennials have been responsible for the largest share of home buying activity, according to the 2018 Home Buyer and Seller Generational Trends study from the National Association of Realtors.
Read on for details.

Homesellers Spy on Prospective Buyers During Open Houses

4Real estate agents and homebuyers have noticed homesellers spying on them as they tour properties for sale. Tools for spying involve everything from old-fashioned security cameras to newer smart devices which track their conversations and actions during open house events.
Read on for details.

Home Depot Donates $50 Million to Reduce Home Construction Shortage

4Home Depot has announced it will donate funds to a construction labor training program with the goal of helping to provide the talent needed to resolve the current home inventory shortage. The company plans to donate $50 million to train 20,000 new construction workers at the Home Builders Institute over the next decade.
Read on for details.

Low-cost Tips to Improve Curb Appeal

4Gorgeous and spacious interiors, including an updated kitchen and bathroom and plenty of storage, can help attract homebuyers. However, before they see these areas, they see the landscaping.
Read on for details.

Real Estate Digest – April 2018

With Home Sellers Making Record Profits, Why Aren’t There More Sellers?

1It’s a great time to sell a home. According to Attom Data Solutions, sellers profited by an average of $54,000 at the end of 2017. That’s a 10-year high and it means sellers brought in an average return on investment of nearly 30 percent. So why aren’t more homeowners putting their homes on the market?
Read on for details.

How Higher Mortgage Rates Might Impact the US Housing Market

2As mortgage rates rise and new tax laws limit mortgage interest deductions, some experts expect downward pressure on home prices.
Read on for details.
 
 

Green Home Construction is Becoming More Main Stream

3Green home construction is becoming main stream among single-family and multifamily home builders, according to the report “Green Multifamily and Single Family Homes 2017 SmartMarket Brief.”
Read on for details.
 
 

Homesnap Raises 14 Million for Real Estate Intelligence

4Rockville, Maryland-based Homesnap has seen many changes since its days as a consumer-facing app for displaying information about local homes by taking a photo. While the app still currently works this way for prospective buyers, these days the company has shifted its focus towards U.S. real estate agents. Close to 75 percent of agents are reportedly using it.
Read on for details.

Single Homebuyers Can Only Afford 45 Percent of U.S. Housing Stock

5It takes the average single homebuyer 11 years to save a 20 percent down payment for a median-priced home, according to a new Zillow analysis. That’s more than double the time it takes a married couple.
Read on for details.
 
 

Luxury Apartment Construction Booming

6With the trend for renters to become first time home buyers on the decline because of rising home prices and mortgage rates, you might think it’s good news that in 2017 new apartment completions (395,775 units) in the 150 largest U.S. cities were a whopping 46 percent more than in 2016 — double the long-term average — according to RealPage, an apartment management software and data company.
Read on for details.

Top 10 Cities to Buy a Home Big Enough to Raise a Family

3Sometimes it is difficult to find a budget friendly home big enough to comfortably fit a growing family. SmartAsset, a personal financial website, looked at the 100 largest cities in the country and used the following data metrics to find the best cities to buy a home big enough to raise a family: the 5-year change in median home values, the 5-year change in median rent costs, average effective property tax rate, the percent of houses with at least two bedrooms, median housing cost as a percent of income, and the percent of homeowners who are housing cost burdened (meaning they spend more than 30% of their income on their mortgages).
Read on for details.

U.S. Luxury Real Estate Prices Return to ‘Normal’

4U.S. luxury markets have reached a “new normal” of subdued price growth after eight years of frenzied appreciation post-recession, according to a report by Coldwell Banker Global Luxury.
Read on for details.
 
 

Americans Increasingly Prefer Walkable Communities

4According to a recent survey for the National Association of Realtors, 53% of people polled said they wouldn’t mind living in neighborhoods with smaller properties if it means they can walk to stores and restaurants. In 2015, only 49% would have been willing to trade square footage for walkability.
Read on for details.

How to Humanize Your Real Estate Brand in a Digital World

4With all the social media frenzy going on, why does it seem increasingly difficult as a real estate professional to connect with actual people and humanize your brand?
Read on for details.

Real Estate Digest – March 2018

A Plague of Million-dollar Homes Haunts U.S. Real Estate

1Owning a million-dollar home isn’t as rare as it used to be. The share of homes valued at more than $1 million has increased by more than fourfold since 2002, according to data released by real estate site Trulia. The company analyzed luxury real estate markets in the top 100 U.S. metropolitan areas and found that 4.3 percent of homes across these regions are worth $1 million or more, compared with 1 percent in 2002.
Read on for details.

Millions of Americans Can’t Afford Their Rent

2Nearly half of all renter households were considered cost-burdened in 2018, according to a new report from Harvard’s Joint Center for Housing Studies. That means nearly 21 million households are paying more than 30 percent of their income to cover their housing, which includes utilities. Other renters are experiencing an even tighter jam. Roughly 25 percent of renter households are paying more than half their income for housing.
Read on for details.

Home Prices Are Set to Soar This Year

3The supply of homes for sale is continuing to fall as the strengthening economy pushes demand. Sales prices increased 7 percent annually in November 2017, according to a new report from CoreLogic.
Read on for details.

 

Home Equity Hits a Record High and Here’s What Homeowners Are Spending It On

4Homeowners are accruing record amounts of home equity, thanks to fast-rising values in today’s housing markets. It comes as no surprise that people are starting to tap into that cash. What are they spending it on? Most opt to make their homes even more valuable.
Read on for details.

Four Growth Areas for Homebuilding in 2018

5A growing economy along with positive demographic trends are expected to fuel growth for the housing market, even as affordability challenges rise from an increase in prices and mortgage rates, according to realtor.com®’s 2018 Housing Forecast.
Read on for details.

Consumers Shouldn’t Expect to Move This Year

6The lack of affordable and buildable lots has hampered housing production, according to a survey released by the National Association of Home Builders. Seventy-nine percent of prospective buyers say they are only able to afford half the homes in their markets. Housing starts in 2017 rose 9 percent over 2016, but the characteristics of new homes remained mostly the same, the NAHB notes.
Read on for details.

Climate Change Could Start Playing a Bigger Role in Real Estate Prices

3Storm surge flooding has become a major concern in Miami, which means waterfront properties aren’t as desirable as they once were. Instead, high-end buyers are seeking out parts of the city with a higher elevation, such as Little Havana and Little Haiti.
Read on for details.

Citigroup Says California and New York Homeowners Could See Taxes Increase By As Much as $3,000

4Homeowners in high-tax states on the coasts are going to experience the largest increases in their tax bills thanks to the new tax law, according to a Citigroup real estate analyst.
Read on for details.

 

10 U.S. Cities Where Homeownership Is Increasing

4For a significant number of Americans, homeownership remains an elusive dream. Soaring levels of student loan debt, the challenges of saving enough for a down payment, and skyrocketing housing prices are just a few of the major reasons keeping renters from becoming owners.
Read on for details.

5 Tips for Improving Your Real Estate Sales Blog

4Most real estate agents understand the importance of maintaining a blog as a way to drive traffic to their websites, to establish authority and more. However, it can be challenging to come up with worthwhile topics. Here are 5 tips for improving your real estate sales blog to help you get better results.
Read on for details.

Real Estate Digest – February 2018

Five Real Estate Trends To Watch for 2018

1Investor interest, which sparked a sharp rise in home prices and made it difficult for homebuyers to gain a foothold in the market, will begin to ease in 2018 as part of continued market improvements, according to the realtor.com® 2018 National Housing Forecast.
Read on for details.

Compass Secures Largest Real Estate Tech Investment in U.S. History

2Compass, a real estate technology fund based in New York City, announced that SoftBank Vision Fund, the investment arm of the Japanese technology company SoftBank, is investing $450 million in the company.
Read on for details.
 

US NAR Warns Tax Bill Will Cause Housing Prices to Drop in Every State

3Proposed changes caused by the recently passed tax bill are raising concern in the real estate market. Some supporters of the tax legislation argue that doubling the standard deduction means the mortgage interest deduction and state and local property tax deductions are no longer needed. However, the privilege of home ownership in the U.S. has always been closely linked to the availability of the mortgage interest deduction.
Read on for details.

New Study Confirms Marketing Opportunity for “Hyper-local” Real Estate Expertise

4Real estate professionals admit they are not delivering when it comes to providing their clients with hyperlocal knowledge of specific housing markets, according to a new survey.
Read on for details.

 

Nextdoor Expands Real Estate Division into Three New Markets

5Community networking platform Nextdoor announced the expansion of its real estate business into three new markets: Minneapolis-St. Paul, Minn.; Washington D.C.; and Tampa-Saint Petersburg, Fla. The company, which recently raised $75 million in funding, says it selected these areas for their robust market conditions and long waiting lists.
Read on for details.

Profits From House Flipping Continue to Decline

6Even as investors have increased home flipping activities, they are seeing lower profits in return.
Higher home prices, increased renovation costs, and a lower supply of distressed properties are making it increasingly expensive to get started, even as the demand for move-in ready homes remains high. Read on for details.

This Is How Long It Takes to Sell a Home

3These days it takes three weeks to sell a home, according to the National Association of Realtors. Five years ago, the median number of days a home stayed on the market was eleven weeks.
Read on for details.

 

U.S. Midwest Emerges as Top Draw for Real Estate Investors

4Investors shifted their focus back to the Midwest this year, according to a new report released by HomeUnion, an online real estate management and investment firm.
Read on for details.

 

Wire Fraud Is the Fastest Growing Real Estate Cybercrime in the U.S.

4According to the FBI, the Internet Crime Complaint Center saw a 480 percent increase in the number of complaints filed in 2016 by those in the real estate industry. The majority of these complaints were related to real estate wire fraud, a scam that has become more common.
Read on for details.

8 Reasons to Market Your Listings With 3D Tech

4In the last few months, Facebook has rolled out some updates to their Ads Manager feature that will affect the way you advertise your listings, business, and yourself as a REALTOR®. These updates include the removal of key options in detailed targeting and the addition of new options to target audiences and new ad layouts designed to provide audiences with a more engaging experience.
Read on for details.

Real Estate Digest – January 2018

Renting Is Overtaking the Housing Market

1Single-family rentals — either detached homes or townhomes — are developing faster than any other portion of the housing market. These rentals have outpaced both single-family home purchases and apartment-style living, according to the Urban Institute.
Read on for details.

Weekly Mortgage Applications Rise As Rates Pull Back

2Total mortgage application volume increased by 3.1 percent for the second week of November, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume remains 8.5 percent below a year ago, when rates were lower.
Read on for details.

US New Home Sales Soar to Highest Level in 10 Years

3Sales of new U.S. homes increased in September to the highest level since October 2007. It is an indication that Americans, unable to find good choices in the stock of existing homes, are turning to new construction.
Read on for details.

Senate Version of Tax Bill Saves Mortgage Interest Deduction but Realtors Still Unhappy

4Real estate professionals revolted when the House GOP tax bill called for cutting the mortgage interest deduction for taxpayers from $1.1 million to $500,000. Granger MacDonald, chairman of the National Association of Home Builders, went as far as saying the plan “abandons middle-class taxpayer.”
Read on for details.

Homebuilder Confidence Rises to 8-Month High

5A monthly reading of home builder sentiment increased two points in November to 70, according to the National Association of Home Builders. This comes after a four point increase in October.
Read on for details.
 

Foreclosure Crisis Lurks in Hurricane Damaged Areas

6Around 4.8 million mortgaged properties were in the paths of Hurricanes Harvey, Irma, and Maria. According to financial data firm, Black Knight, these properties represent nearly $746 billion in unpaid principal balances. In September, the number of loans that were over 30 days past due increased 48 percent in areas affected by Hurricane Irma and 67 percent in Harvey-affected areas. The firm has not compiled the numbers for Puerto Rico yet.
Read on for details.

Fannie Mae Launches Program to Help Boost Homebuilding

3Fannie Mae is considering a series of pilot programs designed to address an issue that has plagued the U.S. real-estate market for many years: a lack of affordable homes. Fannie’s first initiative, which hasn’t been finalized, would potentially make it cheaper and simpler for prospective homebuyers to obtain loans to build new homes.
Read on for details.

Facebook Announces New Features for Home Sales

4Facebook announced that the company is expanding its real estate listings section on its Marketplace, which is Facebook’s attempt to take on other e-commerce platforms, Craigslist and eBay.
Read on for details.

 

Eight Markets Where Housing Inventory Is Actually Increasing

4Four of the eight national housing market regions are actually experiencing month-to-month declines in home inventory ranging from a fraction of a percent to almost 11 percent. However the other half is experiencing month-to-month increases in the supply of available homes for sale ranging from 4 percent to 11 percent.
Read on for details.

Three Facebook Updates That Affect the Way You Advertise Your Real Estate Business

4In the last few months, Facebook has rolled out some updates to their Ads Manager feature that will affect the way you advertise your listings, business, and yourself as a REALTOR®. These updates include the removal of key options in detailed targeting and the addition of new options to target audiences and new ad layouts designed to provide audiences with a more engaging experience.
Read on for details.

Real Estate Digest – December 2017

Homebuyers Rush to Riskier Mortgages As Home Prices Rise

1Home prices are on the rise again. As a result, many potential buyers are looking for ways to afford a monthly mortgage payment.
Read on for details.
 
 

Amazon Ventures Into Real Estate With Hire a Realtor Service

2A new placeholder web page on Amazon that says “Hire a Realtor” with an option to enter your zip code and the words “Coming Soon” is prompting speculation that the company could be expanding into the real estate referral business.
Read on for details.

Digital Real Estate Platform Home61 Raises $4 Million

3Home61, digital real estate platform, has raised $4 million including an investment from FF Angel, the early stage investment vehicle of Founders Fund, Peter Thiel’s Silicon Valley venture capital firm. The company uses automation to “streamline the buying and renting process, making it profitable for agents to provide excellent service to clients with all budgets while simplifying the experience for buyers and renters,” according to its press release.
Read on for details.

Homebuyers Can Now Crowdfund Their Mortgage Down Payments

4For many Americans, saving enough money for a down payment has become a major hurdle to buying a home. One lender claims to have found a solution to this problem. Privately-held mortgage banking firm CMG Financial has launched HomeFundMe — a pilot crowdfunding service that’s the first to receive approval from Fannie Mae and Freddie Mac.
Read on for details.

Millennials Going Over Budget to Buy Homes

5Millennials have spent $514 billion in the U.S. housing market over the past year as the largest generation of home buyers, said Zillow Inc., Seattle. However, new survey data shows their homeownership aspirations are stymied by affordability issues, frustration with the process of buying and selling, as well as a “cutthroat” housing market.
Read on for details.

National Flood Insurance Program Might Not Be Able to Fulfill Obligations to Homeowners

6The Congressional Budget Office, a nonpartisan analysis for the U.S. Congress, crunched the numbers on the National Flood Insurance Program again, calculating the average cost to families.
Read on for details.
 

San Francisco Most Over-valued Market in U.S.

3According to the UBS Global Real Estate Bubble Index released last month, which includes twenty of the globe’s largest cities, San Francisco is the most overvalued real estate market in the United States as home prices have outpaced the rest of the country by 260 percentage points over the last 40 years.
Read on for details.

Trump Tax Reform Sparks Fears for California Realtors

4California’s largest group of realty agents has warned that a Republican tax-reform proposal could significantly reduce the attractiveness of purchasing a home in the Golden State. California Realtors Association President Geoff McIntosh suggested the Republican plan to eliminate state and local tax deductions, such as property taxes, could hurt California and its housing market.
Read on for details.

Weekly Mortgage Applications Stall Along With Rates and Home Sales

4Rising interest rates and rising home prices are hurting mortgage demand, as fewer consumers have the incentive to refinance or purchase a home.
Read on for details.
 
 

10 Reasons to Schedule a Seller Counseling Session

4Scheduling a seller counseling session at the beginning of the selling process is an effective way to educate sellers, manage expectations, and establish open lines of communication. Plus it provides a great opportunity to get to know your clients better and reinforces the idea that you are working together to reach a common goal.
Read on for details.

Real Estate Digest – November 2017

The 5 Hottest Hipster Real Estate Markets Across America

1While not everyone loves beards or pour-over coffee, when it comes to real estate, hipsters might be a good group to watch, according to new research from realtor.com and Yelp.
Read on for details.
 
 

Could DACA Repeal Impact Real Estate?

2There are roughly 800,000 “Dreamers” living in the United States – illegal immigrants brought here as children. Most have jobs, many own homes, and many are enrolled at U.S. colleges and universities.
Read on for details.
 

Houston Rethinks Real Estate Development After Harvey

3There has not been much debate over the years in Houston about how land use should be regulated. Developers in the nation’s fourth-largest city mostly built properties as they pleased. Now in the wake of Hurricane Harvey, which killed at least 50 people and caused approximately $180 billion in damage, people are starting to talk about whether Houston’s real estate development needs better oversight.
Read on for details.

Hurricane Irma Not Likely to Affect Florida Real Estate Prices

4The damage caused by Hurricane Irma in Florida is not as bad as it could have been and is unlikely to affect real estate prices, billionaire real estate developer Jeff Soffer told CNBC in an interview with “Power Lunch.” Irma, which impacted Florida and several Caribbean islands in September, ripped roofs off homes and caused flooding and power outages across the state.
Read on for details.

NAR Forced MLS Membership Up for Review

5An MLS policy that allows Realtor-affiliated MLSs to force all associates in a broker’s office to obtain subscriptions to the MLS will be discussed at NAR’s legislative meetings this month. NAR’s Multiple Listing Issues and Policies Committee will consider the implications of keeping, eliminating or changing the policy — MLS Policy Statement 7.42 — both for different MLSs and for the industry as a whole, according to Rick Harris, a real estate broker and the committee’s 2016 chair.
Read on for details.

REIT Investors Look to Alternative Property Sectors for Bigger Returns

6Retail REITs are experiencing weaker performance as a result of a more negative perception of the space.
Read on for details.
 
 
 

Berkshire’s HomeServices of America Acquires Long & Foster

3Chantilly-based Long & Foster, a small real estate brokerage founded in 1968 that grew to become one of the nation’s largest, has been acquired by HomeServices of America Inc., an affiliate of Warren Buffett’s Berkshire Hathaway. The acquisition includes the companies that fall under Long & Foster’s umbrella, including Long & Foster Real Estate and businesses in mortgage, settlement services, insurance and property management.
Read on for details.

Harvey Victims Facing Temporary Housing Shortage in Houston

4Houston is facing a temporary housing shortage following Hurricane Harvey after flooding devastated the area in August.
Read on for details.
 
 

Malls Need New Business Model Says CBRE Report

4The traditional U.S. shopping mall business is in need of a significant revamp if it is expected to survive, according to a CBRE report.
Read on for details.
 
 

The End of Facebook for Real Estate?

4The golden era of real estate Facebook advertising, a time when agents could see returns after only spending a few dollars, could be coming to an end. As Facebook competes with giants, such as Google and Zillow Group, for real estate marketing dominance, the social network’s ad prices are increasing.
Read on for details.

Real Estate Digest – October 2017

Commercial Real Estate Becoming More Vulnerable to Cyberattack

1At one time, commercial real estate firms were considered less at-risk for cyberattacks, because compared to financial services, healthcare and retail firms, they did not maintain as much personal and intellectual property information. As a result, CRE players have been slow to invest in cybersecurity and insurance for cyber risks.
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8 States With the Largest Housing Bubbles

2Today, most experts agree we are not in a real estate bubble on a national level. However, the absence of a nationwide or statewide housing bubble does not mean they are not forming at the local level in some states.
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20 ZIP Codes with the Highest Real Estate Returns

3Your ZIP code is pretty important, especially when it comes to the real estate market. HomeUnion, an online real estate investment management firm, identified the zip codes in 20 metros that account for the greatest real estate returns while minimizing risk over a five-year horizon. They looked at school quality and neighborhood attractiveness for single-family rentals over five years.
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Banks Tightening Lending Standards for Commercial Real Estate in Q2

4Loan officers at U.S. banks reported tightening lending standards on commercial real estate loans as terms for business loans remain mostly unchanged, the Federal Reserve reported in July in a quarterly survey. The officers surveyed also reported a decline in demand for both types of loans in the second quarter.
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Facebook Launches Dynamic Ads for Real Estate

<5Facebook just launched a new ad product designed specifically for the real estate industry. Dynamic Ads for Real Estate allows brokers to automatically promote their listings across Facebook, Instagram, and Audience Network placements. It also promotes listings to those who have searched for listings on a broker’s website.
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Nextdoor App Rolls Out Real Estate Listings

6Nextdoor, the social media platform for neighborhoods, is planning to roll out a real estate listing feature, which will showcase homes for sale in local communities.
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Robot Real Estate Agents to Sell Homes

3Meet Rex. He’s a robot slowly replacing human real estate agents in markets such as California and New York.
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U.S. Home Sales to Foreigners Surge by 49 Percent

4As homes in the United States have become relatively more affordable than in Canada, Canadian real estate investors nearly doubled their purchases of American homes lately. Many Canadians have struggled to purchase homes in markets such as Toronto and Vancouver where there have been rapid price gains.
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What Real Estate Agents Need to Know About Zero-down Loans

4Several commercial lenders are offering mortgages that allow one percent down or nothing at all. In hot markets where the cost of a down payment has been on the rise, super low down loans have become one of the few ways a young family can afford to buy a home before they get locked out by rising interest rates or higher home prices.
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Four Costs Homebuyers Often Forget to Factor Into Their Budgets

4Out-of-pocket costs that crop up during the purchasing process or even as the new homebuyers are moving in are straining homebuyers’ budgets. Experts suggest that homebuyers budget between two and five percent of the home’s purchase price for closing costs, including appraiser, lender, and title fees.
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Real Estate Digest – September 2017

The Internet of Things Is Revolutionizing Commercial Real Estate

1The commercial real estate (CRE) industry is about to undergo major disruption thanks to the Internet of Things (IoT). Technology is beginning to encroach upon an industry that has traditionally lacked innovative spirit. This technology is expected to change the very definition of what it means to be a real estate broker. As client needs evolve, brokers must learn new skills in order to keep up with the changing technology landscape and to remain competitive.
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Automation Could Eliminate Real Estate Appraisal Jobs

2Advances in big data and computing are helping automation creep into knowledge-based professions, threatening to knock off jobs in the same way that robots have been doing at factories for decades.
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Life Is Great for U.S. Homesellers

3Right now it is a great time to be a homeseller. For homesellers, it is the most profitable time to sell a home in almost ten years. Homeowners who sold their homes in the first three months of this year saw an average price gain of $44,000 from purchasers, according to a report from Attom Data Solutions. That amounts to the highest gain since 2007.
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Los Angeles Ranks First as Best City for Global Real Estate Investors

4Los Angeles beat out London when it was named the new hot spot for global real estate investors in the third annual Schroders Global Cities 30 Index, released in June. Schroders is a London-based investment bank.
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Millennial Homebuyers Are Struggling

5After many years of real estate experts lamenting how millennials weren’t interested in becoming homeowners, it turns out that many are in fact diving in. But they are facing a lot of competition. Millennials are the largest group of home buyers, according to Ellie Mae, a software company that analyzes mortgage data. In January, millennials represented roughly 45 percent of all purchase loans, an increase from 42 percent in January 2016.
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Millennials More Likely to Regret Real Estate Choices

6The housing market has improved significantly since the recession. However, many Americans are still scarred from their last real estate decisions. Roughly 44 percent of Americans reported that they regret their current home choice or the process that they went through in order to get it, according to the newest report from Trulia. Still, this is a slight improvement from five years ago when 46 percent regretted their decisions.
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Real Estate Startup Redfin Gears Up for IPO

3Online real estate brokerage Redfin has filed the paperwork for an IPO. Redfin is backed by some of Silicon Valley’s biggest investors and plans to begin trading on the Nasdaq exchange under the ticker symbol “RDFN,” it said in the S-1 filing with the SEC. Redfin initially pegged the size of the offering at $100 million, though that number is likely just a placeholder that will be adjusted later on as the IPO day moves closer.
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Zillow’s Instant Offers Program Draws Ire From Real Estate Agents

4Over 32,000 real estate agents around the country have signed online petitions opposing the Instant Offers program Zillow rolled out two months ago in the pilot markets of Orlando and Las Vegas. Petition organizer Greg Hague claims the program will cost sellers sales profits by encouraging them to settle for discounted prices with minimal guidance from real estate agents.
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Second Homes Sales Decline as Investment Sales Increase

4Last year, vacation home sales dropped back to their lowest levels since 2013. That’s a 21.6 percent decline since 2015, according to the National Association of Realtors Chief Economist Lawrence Yun.
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Nine Highly Salable Factors of Real Estate Property

4The ability to distinguish a property as salable is an absolute must for brokers who want to succeed in the real estate industry. What comprises a salable property depends on what the buyer prefers.
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