National Home Values Surpass Peak

25 May

National Home Values Surpass Peak

SEATTLE, May 25, 2017 /PRNewswire/ — National home values have surpassed the peak hit through the housing bubble and so are at their highest value in greater than a decade, the April Zillow&reg in accordance with; MARKET Reportsi. The median home value in the U.S. is currently $198,000, 1 percent greater than peak value hit in 2007.

Home values in the united states rose 7.april 3 percent since last, the strongest rate of appreciation in a lot more than a decade. Seattle, Dallas and Tampa reported the best home value growth in the last year. Home values in Seattle rose almost 12 percent, to a median home value of $432,300. Dallas and Tampa home values rose 11 percent year-over-year.

When the housing marketplace crashed about ten years ago, home values plummeted and contains taken about a decade for median home values to attain prior peaks. However, some markets’ median home values recovered quicker than others. On the list of 32 largest U.S. metros, this past year 10 markets saw their median home value exceed prior bubble peaks a lot more than, while 17 need to regain peak value yet.

“Given that the normal U.S. home ever will probably be worth more than, people could be tempted to ask if we’re in another national housing bubble,” said Zillow Chief Economist Dr. Svenja Gudell. “We aren’t in a bubble, and will not be entering one any moment later on. You can find big differences between your market then and the marketplace now: Then, loose credit, speculation and overbuilding were ingredients in a recipe for disaster. Now, healthy home buyer demand has been driven by way of a stable economy and demographic tailwinds largely, that is what we’d expect in a wholesome market exactly. Supply has been slow to catch around this demand, that is causing home values to cultivate at a faster clip than we might otherwise expect. Beyond that, the market’s fundamentals look largely healthy. Today than these were before the bust homes are largely less expensive generally in most markets, and can remain so for the near future, if mortgage rates rise even. Americans clearly continue steadily to start to see the value in homeownership, young Americans especially, which bodes well for future years.”

Median rent over the nation rose 0.april 7 percent since last, to a median payment of $1,per month 412. Seattle, Sacramento, Calif. and Los Angeles reporting the best year-over-year rent appreciation on the list of 35 largest U.S. metros. Rents in Seattle are up 6 percent to a Zillow Rent Indexii (ZRI) of $2,114. Rents in Sacramento are up almost 5 percent, while Los Angeles rents are up 4 percent.

One of the best hurdles for home shoppers come early july will be low inventory. This past year you can find 8 percent fewer homes available than, with Minneapolis, Columbus, Ohio and Seattle reporting the best drop. You can find 27 percent fewer homes in the marketplace when compared to a year ago in Minneapolis and Columbus, and 20 percent fewer in Seattle.

In April, mortgage ratesiii on Zillow ended at 3.83 percent, the cheapest month-ending rate since October 2016. In April hit a higher of 3 mortgage rates.88 percent in the initial couple of weeks of the monthiv, the month low at 3 with.74 percentv. Zillow’s real-time mortgage rates derive from a large number of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the newest changes on the market.

Metropolitan Area

 Zillow Home
Value Index
vi
(ZHVI)

Year-over-
Year ZHVI
Change

Zillow Rent
Index (ZRI)

Year-over-
Year ZRI
Change

Year-
over-Year
Inventory
Change

Peak ZHVI

Percent
Fall from
Peak ZHVI

United States

$          198,000

7.3%

$         1,412

0.7%

-7.7%

$ 198,000

0.0%

New York/ Northern New Jersey

$          414,800

8.0%

$         2,380

-1.7%

-15.7%

$ 445,200

-6.8%

Los Angeles-Long Beach-Anaheim, CA

$          604,400

6.0%

$         2,655

4.2%

-11.3%

$ 604,400

0.0%

Chicago, IL

$          209,200

6.3%

$         1,622

-1.7%

-10.6%

$ 247,000

-15.3%

Dallas-Fort Worth, TX

$          207,300

11.1%

$         1,574

3.0%

4.7%

$ 207,300

0.0%

Philadelphia, PA

$          217,300

4.7%

$         1,564

-0.4%

-13.5%

$ 230,600

-5.8%

Houston, TX

$          174,100

2.4%

$         1,543

-2.6%

6.2%

$ 175,800

-1.0%

Washington, DC

$          383,300

3.6%

$         2,117

-0.2%

-17.0%

$ 427,600

-10.4%

Miami-Fort Lauderdale, FL

$          250,700

8.4%

$         1,847

-1.4%

4.5%

$ 305,200

-17.9%

Atlanta, GA

$          177,100

7.3%

$         1,340

3.0%

-3.7%

$ 177,100

0.0%

Boston, MA

$          422,300

7.2%

$         2,357

3.7%

-18.9%

$ 422,300

0.0%

San Francisco, CA

$          848,400

5.0%

$         3,354

-0.2%

-11.1%

$ 848,400

0.0%

Detroit, MI

$          139,900

10.4%

$         1,172

-0.1%

-17.7%

$ 157,100

-10.9%

Riverside, CA

$          324,600

6.6%

$         1,768

2.7%

-16.7%

$ 403,900

-19.6%

Phoenix, AZ

$          233,200

6.1%

$         1,311

1.9%

-0.1%

$ 273,500

-14.7%

Seattle, WA

$          432,400

11.8%

$         2,114

6.1%

-20.4%

$ 432,400

0.0%

Minneapolis-St Paul, MN

$          244,800

8.5%

$         1,577

3.2%

-27.3%

$ 244,800

0.0%

San Diego, CA

$          537,200

5.7%

$         2,457

2.8%

-18.0%

$ 543,600

-1.2%

St. Louis, MO

$          149,100

5.5%

$         1,140

0.1%

-13.0%

$ 158,900

-6.2%

Tampa, FL

$          183,900

10.9%

$         1,353

2.5%

-13.0%

$ 214,300

-14.2%

Baltimore, MD

$          259,800

3.7%

$         1,717

-0.9%

-18.0%

$ 289,100

-10.1%

Denver, CO

$          366,000

9.4%

$         1,998

0.4%

-4.4%

$ 366,000

0.0%

Pittsburgh, PA

$          136,300

4.8%

$         1,065

-5.2%

-8.2%

$ 136,300

0.0%

Portland, OR

$          361,300

6.4%

$         1,808

3.8%

4.7%

$ 361,300

0.0%

Charlotte, NC

$          172,000

7.7%

$         1,254

0.9%

-13.6%

$ 172,000

0.0%

Sacramento, CA

$          363,700

8.4%

$         1,727

4.6%

-18.4%

$ 420,800

-13.6%

San Antonio, TX

$          158,800

5.2%

$         1,327

1.1%

5.6%

$ 158,800

0.0%

Orlando, FL

$          204,400

10.0%

$         1,402

3.1%

-13.3%

$ 256,300

-20.2%

Cincinnati, OH

$          151,500

6.5%

$         1,254

1.4%

-17.4%

$ 151,500

0.0%

Cleveland, OH

$          132,600

4.4%

$         1,148

1.1%

3.8%

$ 145,400

-8.8%

Kansas City, MO

$          157,000

6.4%

$         1,259

1.5%

3.3%

$ 159,500

-1.6%

Las Vegas, NV

$          220,700

9.7%

$         1,248

1.0%

24.9%

$ 304,700

-27.6%

Columbus, OH

$          162,100

4.9%

$         1,298

1.1%

-26.5%

$ 162,100

0.0%

Indianapolis, IN

$          137,600

5.4%

$         1,187

-0.3%

-18.3%

$ 139,900

-1.6%

San Jose, CA

$          997,600

3.8%

$         3,460

-1.2%

-16.9%

$ 997,600

0.0%

Austin, TX

$          270,200

7.8%

$         1,692

-0.8%

20.5%

$ 270,200

0.0%

About Zillow

Zillow® may be the leading real rental and estate marketplace focused on empowering consumers with data, inspiration and knowledge round the accepted place they call home, and connecting them with the very best local professionals who is able to help. Furthermore, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering a lot more than 450 markets at Zillow PROPERTY Research. Zillow sponsors the quarterly zillow Home Price Expectations Survey also, which asks a lot more than 100 leading economists, property experts and investment and market strategists to predict the road of the Zillow Home Value Index on the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is really a registered trademark of Zillow, Inc.

i The Zillow MARKET Reports certainly are a monthly summary of the national and local areas. The reports are published by Zillow PROPERTY Research. To learn more, visit www.zillow.com/research/. The info in Zillow’s MARKET Reports are aggregated from public sources by way of a amount of data providers for 928 metropolitan and micropolitan areas dating back to to 1996. Mortgage and home loan data are usually recorded in each county and publicly available by way of a county recorder’s office. All current monthly data at the national, state, metro, city, ZIP neighborhood and code level could be accessed at www.zillow.www and com/local-info/.zillow.com/research/data.

ii The Zillow Rent Index (ZRI) may be the median Rent Zestimate® (estimated monthly rental price) for confirmed geographic area on confirmed day, and includes the worthiness of most single-family residences, condominiums, cooperatives and apartments in Zillow’s database, whether or not they’re listed for rent currently. It really is expressed in dollars. 

iii Rates for a 30-year fixed mortgage.

iv Month highs occurred on April 3rd, 5th and 10th.

v Month low occurred on April 18th.

vi The Zillow Home Value Index (ZHVI) may be the median estimated home value for confirmed geographic area on confirmed day and includes the worthiness of most single-family residences, cooperatives and condominiums, of if they sold inside a given period regardless. It really is expressed in dollars, and adjusted seasonally.

SOURCE Zillow

24 May

Trump Administration Proposes 2018 HUD Budget

on Tuesday announced its 2018 proposed cover the U

The Trump Administration.S. Department of Housing and Urban Development (HUD), scaling back funding to the agency approximately 13 percent to $40.68 billion.

The proposed budget preserves rental assistance for 4.5 million low-income households, but recommends reforms to the Housing Choice Voucher (HCV), Housing for older people (Section 202) and Housing for Persons With Disabilities (Section 811) programs, and Project-Based Rental Assistance (PBRA) and the general public Housing Operating/Capital Fund. The budget suggests eliminating the statutory limit on the quantity of public housing units that may take part in Rental Assistance Demonstration (RAD), along with checking RAD eligibility to senior housing developments taking part in the Section 202 program.

The budget also aims to cease at the federal level the city Development Block Grant (CDBG) program, and also the Choice Neighborhood’s Initiative, HOME Investment Partnerships program and the Self-Help Opportunity program (SHOP), assigning oversight at hawaii and local levels instead; and $130 million assigned to address lead hazards.

The budget, furthermore, allows for around $400 billion in new loan guarantee authority, and reinforces the Federal Housing Administration’s (FHA) Home Equity Conversion Mortgage (HECM) program with a $30 million “administrative fee” to update the agency’s systems.

The budget’s proposed policies would “serve as a starting place as HUD works to modernize an complex and outdated support system,” in accordance with a release on the announcement.

“This Administration&rsquo is reflected by this budget;s commitment to fiscal responsibility while continuing HUD’s core support of our most vulnerable households,” said HUD Secretary Ben Carson in a statement. “We shall work very closely with Congress to aid the critical work of our agency once we vigorously pursue new methods to help work-eligible households achieve self-sufficiency.”

The provisions of the proposed budget come in line having an outline released by the Administration in March.

View the proposed budget in the entire. 

Source: U.S. Department of Housing and Urban Development (HUD)

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23 May

Refinance Your CAR FINANCE With the Credit Union Now, Pay Later

NAR PULSE—For those who have a motor car finance with another lender, it’s likely that you’re paying much too. Bring your car finance to REALTORS® Federal Credit Union, a division of Northwest Federal Credit Union, and revel in low loan rates, flexible terms, and make no payments for 3 months. Hurry, june 30 offer ends! Learn more.

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23 May

Free Report: THE ENERGY of PROPERTY IRA Investments

Entrust clients have an extended track record—35 years—of buying real estate utilizing their tax-advantaged retirement savings accounts. Section of our mission would be to educate investors, and our new property report is really a prime exemplory case of that effort. The report’s detailed analysis of both sales and purchases data is really a valuable tool for investors, financial and retirement advisors, and property professionals.

For example, we have now know that owning a home using self-directed accounts is catching on in new places. In 2016, Missouri made its first appearance on the list of top five states where Entrust clients bought property. On the sales side, New and tennessee Mexico broke in to the top five.

Single and multifamily properties stayed the preferred kind of property bought (78 percent) and sold (71 percent). Because rental revenue is really a goal of property investors often, the report contains insights in to the national rental market also, thanks to Zillow.

You may use a Roth or Traditional self-directed IRA to purchase real estate, & most clients choose one particular two vehicles—although in 2016, we noticed an increasing number of clients using Individual 401(k) makes up about their property investments.

You’ll find more useful information and interesting insights once you download your FREE copy of Entrust’s 2017 PROPERTY Investor GENERAL MARKET TRENDS Report.

For more info, please visit www.theentrustgroup.com.

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23 May

Learning From the very best

In the next interview, Daniel Cottingham, broker of Cottingham Chalk Hayes, REALTORS®, a known person in Leading PROPERTY Companies of the World® in Charlotte, N.C., discusses the firm’s culture, recruitment tactics and training techniques.

Region Served: Greater Charlotte, N.C.
Years in Real Estate: 13
Number of Offices: 1
Number of Agents: 100+
Best Tip for COPING WITH Difficult Customers: Listen, advise and empathize.

You recently transitioned from the sales side of the continuing business to a job in management. How would the procedure is described by you?
Things have gone effectively, and I that&rsquo think; s because we spent a whole large amount of time planning the transition. I centered on evaluating everything we do, making slight tweaks if necessary, and avoiding any sweeping changes intentionally. Some plain things seemed so obvious from the sales side, however when I switched hats, the presssing issues were more technical. The largest challenge came on the non-public front. All day long is much unique of being out in the field with buyers and sellers being at work. I was used to the lows and highs of the sales side, and I’ve had to get other outlets to feed my competitiveness.

What will be the two most significant areas of your company’s culture which will propel your team to another level?
The Golden Rule reaches the center of everything we do. Our agents recognize that we’re fully focused on doing the proper thing also to helping them accomplish their goals. As a total result, they share that commitment among one another and their clients. It’s servant leadership at its best, and it’s why prospective agents give us a call, and, ultimately, why sellers and buyers call our agents.

How can you start recruiting, and in what ways does your organization culture assist you to qualify the very best prospects?
Everyone we interview initiates the conversation. We don’t reach to agents at other firms or students in licensing classes out, when they can be found in to talk, they will have a knowledge of our brand and our culture generally. My goal is usually to be a resource to greatly help them navigate the procedure and find the very best fit.

What sets your training curriculum apart, and so how exactly does it position agents for success right from the gate?
Our training curriculum is just about the best representation of our servant leadership culture because it’s taught exclusively by our top-producing agents almost. They volunteer their time talk about a number of topics which range from open houses and staging to negotiating and community involvement. As a fresh agent, it doesn’t get superior to learning from the very best.

For more info, please visit www.leadingre.com.

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23 May

Rents Appreciating Faster in Suburbs as Demand Intensifies

Renters against ballooning costs in sought-after cities have spread outward for rent relief&mdash steadily;but now, costs are climbing in areas beyond cities, too.

In fact, in accordance with a recently released report by Zillow, rent appreciation is accelerating faster in suburban areas than urban ones, with the median rental cost in suburban areas up 2.5 percent year-over-year, as the median rental cost in cities is 2 up.3 percent.

“Because walkable urban centers to amenities are usually a large draw for renters close, you’d expect rents to go up faster in the populous city than in the suburbs— that is what we&rsquo exactly;ve been seeing until very recently,” says Dr. Svenja Gudell, chief economist at Zillow, “but a small number of factors are helping turn the tables and starting to push suburban rents up at an increased clip. Included in these are deteriorating rental affordability in expensive urban cores; new apartments, albeit high-end ones, opening downtown in comparison to few in outlying areas relatively; and preferences among some renters toward the area provided by single-family homes in the suburbs.”

year ago

The difference represents a shift in one, when urban rental costs were up 5 percent year-over-year and suburban rental costs were up 3 percent. You can find starker disparities in appreciation in in-demand cities and their suburban counterparts, including in Nashville, Tenn., and SAN FRANCISCO BAY AREA, Calif.

“Rents themselves are low in the suburbs still, but if demand grows for suburban supply and rentals continues to lag, that will begin to change also,” Gudell says. “As more urban renters proceed to the suburbs in coming years formerly, we’ll likely start to see more apartment buildings and walkable amenities showing up in those grouped communities.”

For more info, please visit www.zillow.com.

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22 May

Brand Report: Confidence in MARKET Rises

Optimism toward the economy and market keeps growing across all generations of prospective and current homeowners, but rising interest levels continue being a problem among prospective homeowners, millennials especially, in accordance with Berkshire Hathaway HomeServices’ latest Homeowner Sentiment Survey.

Overall, 62 percent of prospective homeowners and 61 percent of current homeowners say they’re content with the economy, with respondents from both groups overwhelmingly reporting that the overall economic outlook is really a critical factor impacting their property decisions.

When considering views toward the true estate market, 68 percent of prospective homeowners and 70 percent of current homeowners hold a good view, a rise of five percentage points and four points, respectively, from the final wave of the survey. Nearly 1 / 2 of current homeowners cited lower interest levels because the top reason behind their favorability toward the marketplace; 43 percent of the combined group also pointed to the increased value of property as one factor driving favorability.

Respondents are encouraged by accelerating home construction also, with three out of four citing a growth in available homes developed by new construction as one factor adding to market momentum. Additionally, 75 percent of current and 83 percent of prospective homeowners cited increased construction in urban centers, offering homeownership options near places of employment, as a high factor.

“Optimism in the true estate market and economy are in levels we’ve not seen since we first began fielding this survey in 2015,” says Gino Blefari, cEO and president of Berkshire Hathaway HomeServices. “Mortgage rates remain near historic lows with recent upticks even, and we’re seeing rising wages, job growth and construction rates, which continue steadily to make homeownership an authentic and compelling investment for most Americans.”

Interest Rates Remain Top Concern; Housing Inventory Still Tight

Optimism notwithstanding, uncertainties linked to rising interest levels persist, especially among millennials (defined in the survey as people ages 18-34). A complete 68 percent of prospective millennial homeowners say they feel a feeling of urgency to get a home as interest levels may continue rising, and something in five reported a need to purchase a true home before mortgage rates increase. Moreover, 55 percent of the group reported “feeling discouraged” about investing in a true home because of the prospects of rising rates.

“The sense of urgency expressed by millennials shows they understand the benefits of locking in a minimal mortgage rate now,” Blefari says. “However, we also recognize rising interest levels could make the home-buying process feel challenging. It’s vital that you remember that interest levels and mortgage rates remain low by historical standards, sufficient reason for guidance from the skilled property professional, prospective buyers could be empowered to locate a home that meets their needs and financial objectives.”

tight way to obtain available homes in lots of markets&mdash

A; at lower and entry-level price points&mdash particularly;presents another challenge for buyers. This season are responding with an increase of concentrate on lower-priced homes builders, in accordance with builder trade groups, which might serve being an important nudge to hesitant millennials. In the survey, 70 percent of prospective homeowners said they’re ready to wait—with the probability of rising mortgage rates&mdash even; to buy a genuine home that suits their needs now.

“Younger buyers are telling us they don’t want a normal starter home you fix as time passes necessarily,” Blefari says. “They need move-in ready minus the hammers and hassles.”

Most Important Neighborhood Feature

Respondents made a surprising top choice for the main neighborhood feature: friendly neighbors. Prospective homebuyers ranked “friendly neighbors” (50 percent) before financial considerations like the “accurate market value of a home” (39 percent) and “confidence that the real home is a good investment in the future” (37 percent). Other neighborhood characteristics valued by prospective homebuyers included walkability (45 percent) and an excellent school district (41 percent).

Large, walk-in closets topped the set of home amenities sought by prospective and current homeowners, of patios/balconies and hardwood floors ahead. Respondents cited energy-efficient appliances and smart-home features such as for example learning thermostats and automated lighting as the utmost important trends in home home design.

“It’ll be interesting to observe how rising consumer optimism plays out in the spring and summer home-buying buying seasons,” says Blefari. “All property is local—each market has its conditions and characteristics. Contact your neighborhood property professional to understand how you usually takes advantage in today’s environment.”

For more info, please visit www.berkshirehathawayhs.com.

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22 May

Finding your way through Success

In the next interview, Anne M. Lusk, owner of Lusk & Associates Sotheby’s International Realty in Lancaster, Pa., discusses challenges in the marketing and market strategies.

Region Served: Central Pennsylvania
Years in Real Estate: 26
Number of Offices: 1
Number of Agents: 40
Favorite Solution to Unwind: Walking my dog

What factor gets the largest influence on the true estate industry today?
The media, as it could sway the minds of consumers – and what we about talk, we about bring. Once the media is discussing the marketplace being bad or slowing or it being truly a hard time and energy to sell, the consumer’s mind is swayed toward negativity. When there’s a whole large amount of positivity being reported, people appear to believe it, and there’s a rush to get often.

What is among the challenges your market faces, and what exactly are you doing to overcome it?
There, but it might not be the proper inventory for what the existing consumer is desiring. Our rental market is quite tight. In market of under 250,000 people, consumers need to buy because it’s cheaper than renting actually, and they reach own the home and obtain a tax benefit. To overcome this, we’re making the effort to search out good inventory that people can provide our clientele before it even hits the marketplace.

When it involves coping with picky buyers, what’s your very best tip?
It all involves communication and learning what&rsquo down; s for the customer best, so start out with an appointment in your workplace to go over their real needs and know what their housing goals are. The nice reason buyers are picky is basically because they will have fear. When you can alleviate that fear, the procedure is made because of it more fun for them and you also.

What can be your top technique for closing a transaction?
Preparation. When you’re prepared, you can achieve your destination easily. While I spend a whole large amount of time finding your way through whatever I really do, whether it’s venturing out to list a house or talk with a buyer, a whole large amount of agents don’ t take the proper time to plan success. Invest the the right time and energy to prepare, you should have no nagging problem getting that transaction to the final line.

You use a built-in online marketing strategy, including print and, specifically, Homes & Land. So how exactly does it benefit you?
Homes & Land benefits me in Central Pennsylvania because, people like print still. You must have an integration between print, the web as well as your personal sphere of influence. Personally i think like Homes & Land has been excellent for me personally since it offers various technologies. It has print, an online business, and also gives consumers the opportunity to text to learn more on specific properties.

 To learn more, please visit www.newpointmediagroup.com.

Gabrielle van Welie is RISMedia’s editorial intern.

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21 May

Renters Warm to Homeownership, Despite Affordability Concerns

Renters are staunchly in favor of homeownership, and, though they have concerns about their ability to afford a home, more now believe it is easier to qualify for a mortgage.

According to the latest SCE Housing Survey, part of the Survey of Consumer Expectations (SCE) by the Federal Reserve Bank of New York, 72.3 percent of renters “prefer” or “strongly prefer” to own a home rather than rent one, and 55.9 percent view homeownership as “a good investment”—findings that dismiss a commonly held notion that they have become averse to homeownership as a result of societal shifts.

The likelihood of buying a home in the foreseeable future, however, both for homeowners and renters, is at a standstill: 63.6 percent, unchanged from 2016.

Sixty-five percent of renters view qualifying for a mortgage as “somewhat difficult” or “very difficult”, according to the survey—a share, though, that has steadily declined in recent years. Twenty percent view qualifying for a mortgage as “somewhat easy” or “very easy,” up from 15 percent in 2015.

One factor could pose a setback. Those surveyed believe mortgage rates have risen by at least 40 basis points this year—on par with their actual activity—and that the average rate one year from now will be 5.6 percent. Higher mortgage rates have the potential to sow apprehension among renters grappling with affordability.

Those surveyed, as well, anticipate home prices will continue to rise both one year and five years from now, expecting a 5.1 percent change in prices in the next year—the highest ever recorded in the survey. The likelihood that prices will fall in the next year, according to those surveyed, is down, to 37.5 percent.

Homeownership, overall, is viewed by 60.4 of those surveyed as a “somewhat good” or “very good” investment; only 12.7 percent view it as a “bad investment.”

Source: Federal Reserve Bank of New York

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

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21 May

A Support System for Success

In the following interview, Bob Witt, broker/owner of Berkshire Hathaway HomeServices Heritage Real Estate in Livingston County, Mich., discusses his local market and the social media solution supporting his marketing efforts.

Regions Served: Livingston County and surrounding areas, Southeast Mich.
Years in Real Estate: 39
Key to Success: Success always involves hard work.
Facebook: @BHHSHeritageRealEstate, Bob Witt – Berkshire Hathaway HomeServices Heritage Real Estate

News about housing in Michigan often centers on Detroit. How would describe the market in Livingston County?
Howell and Livingston County are unique because we have traditionally been a bedroom community, where folks live here and then commute someplace else to work. We are located mid-way between Ann Arbor and Flint and Detroit and Lansing. We have lower taxes, good schools and a reputation as a great place to live, which has always been a draw to potential buyers.

What do you expect for the market this summer?
The market right now is tough, but only because there is a shortage of available homes for sale and an excess of potential buyers. Our biggest challenge right now is finding folks wanting to sell their houses.

You recently added RISMedia’s ACE to your marketing efforts. How are you implementing the system in your business, and what aspects of it are most appealing to you?
I’m using it as an addition to my own social marketing efforts. One of the biggest benefits is I receive high quality posts, branded to me, posted across my social networks. I also have the opportunity to be able to feature up to two chosen advertisers on my site that reflect my values, and can assist in covering my cost for the program.

Along with my postings of local events and houses for sale, RISMedia’s ACE provides   postings without any additional effort from me. Hopefully social media will assist in keeping me in the public’s mind so when they think of real estate, they also remember that’s what I do! Having the branded-to-me postings will assist with that.

For more information, please visit ace.rismedia.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

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