Power Up Your Prospecting Strategy

16 Nov

Power Up Your Prospecting Strategy

Cole Information’s local focus and depth of data put real estate professionals where they want to be

If there’s anything better than selling a home, it’s picking up a listing five doors away before the ink has dried on the contract—and agents have a better shot at doing just that, thanks to the marriage of grassroots data and hyper-local marketing technology.

Enter Cole Information, a proven leader in marketing solutions, whose innovative Realty Resource service gives busy agents instant access to the names and contact information of the homeowners they most want to reach.

“We’re here to help agents amp up the power of their Just Listed and Just Sold campaigns,” says Cole Information CEO Jim Eggleston, the force behind Realty Resource. “Waiting for referrals is just too slow. The rainmakers in this business don’t wait for clients to come to them. Our product helps get your name out quickly, positioning you as the local real estate expert. It can literally help you sell the neighborhood.”

Armed with a valued mix of current contact data and local market experience, Eggleston notes that agents can provide neighbors of a Just Sold residence with a thoughtful, detailed analysis of current market activity, buyer interest, and smart pricing strategies, establishing themselves as the agent to keep in mind.

Prospecting strategies don’t stop there. Cole’s Google® map applications, developed specifically for real estate professionals, enable agents to target a specific street or get a bird’s eye view of any neighborhood they’re interested in farming, along with the ownership details they need to start generating listings.

Additionally, with a large percentage of the population still renting, the Realty Resource search engine can help agents generate potential homebuyer leads by browsing the market and collecting data on renters they can contact.

“We didn’t just dream up these kinds of applications,” says Eggleston. “We went to the agent community and asked them what was missing in their prospecting toolkit, then put our minds to creating the means to those ends.”

Collecting information used by sales professionals is not new for Cole Information. Founded in 1947 by entrepreneur Jack Cole, the Omaha, Neb.-based company launched the Cole Directory, a revolutionary reverse directory product that made it possible to locate and market to specific individuals.

But by 2003, database technology was fast making print directories obsolete. Eggleston and his partners bought the failing company with the express purpose of moving its vast stores of collated contact information into the 21st century.

“We did that by seamlessly integrating our information with online technology that makes the data actionable—and invaluable—to real estate professionals, creating instantly accessible marketing databases tailored to the user’s specific needs,” says Eggleston.

Don Bass, associate broker with Bellabay Realty in Grand Rapids, Mich., has been a Premier subscriber since 2014. “I can tell you it works for me,” he says. “In my experience, Cole Realty Resource has the best, most accurate, most accessible contact data, including cells and emails, in the industry.”

The company has grown exponentially, today serving more than 33,000 agent subscribers and brokers, many of whom, Eggleston notes, use the Realty Resource product as a recruiting tool by providing their agents with free access to the prospecting data.

The flat-rate yearly subscription provides unlimited access to the data, giving agents the confidence they need to optimize their prospecting strategies by providing timely and useful information to targeted homeowners.

“The fact is, there are other companies out there selling marketing lists. But we’re the only one with the power to help agents define precisely who they want to market to and where—right down to zip code, neighborhood and house,” says Eggleston.

“We don’t sell leads,” emphasizes Eggleston. “We aren’t a lead producer or appointment setter. Cole Realty Resource is a hyper-local marketing service that empowers agents, teams and brokers to pinpoint target areas and take their marketing skills to the next level.”

For more information, please visit www.colerealtyresource.com or call 888-231-0732.

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15 Nov

Facebook Shops Around because of its Next Business Endeavor: Rental Listings

Once touted as the utmost popular and innovative internet community of its time, Facebook is currently pushing to contend with trendy social media marketing platforms like Snapchat and Instagram. Within its rebranding efforts to become an all-in-one service, Facebook added payment capabilities to its messaging service recently, alongside various filters to its camera settings to mimic Instagram’s photo editing settings. It really is now creating a move into the true estate industry with the addition of apartment and home rental listings onto its existing Marketplace storefront, which so only included household items far, job postings and car listings.

Adding a social media marketing twist to a favorite Craigslist service, Facebook is transforming apartment searching into an interactive experience by giving 360-degree photo capabilities and using social media marketing profile information to lessen the probability of scams and unsafe transactions. Even though consumers will be able to seek out properties predicated on location, price, size, bedroom number and animal restrictions—information that’s supplied by leasing and landlords companies— an agent is around the corner nowhere. So, how is this likely to be impact the?

For many realtors, being fully entrenched in the rental business is a good solution to transition into buying and selling. That is true for greener agents that don&rsquo especially; t have the true estate experience yet, and have to build business by dealing with renters primarily. In the end, it’s safe to assume that lots of of these renters shall become buyers someday. It’s not only a good way for agents to familiarize themselves with the, but it’s crucial to creating a contact database they can grow.

only is Facebook seeking to list its consumers&rsquo

Not; properties using Marketplace, nonetheless it is pulling property information from partnered sources&mdash also; Apartment Zumper&mdash and List;which will integrate thousands of listings. Although only in the first stages of adoption, the could see this as a primary challenge to Zillow along with other popular home search sites. Unless Facebook decides to go the lead agent and marketing branding route with brokerages, as Zillow does, the true estate industry might see this being an unwelcome addition. Up to now, it doesn’t sound ideal for the overall. But here’s why it won’t be an overnight success:

Consumers Want Simple
The more capabilities are included into an app, the more technical it shall become. Yes, consumers expect a one-stop look for services that produce sense together, such as for example ordering food and setting it up delivered; however, Facebook is really a social media marketing site primarily, and that’s what it’ll be known for always. Although some grouped community aspects like groups and neighborhood tag sales are successful, attempting to condense a whole rental industry into an app’s subcategory may be a stretch.

It’s Free, but at a Cost
While Facebook maintains that the service is cost-free, putting accommodations listing out there is really worth the commission paid. When working with an agent, the rental commission goes toward listing services, such as for example staging and photography, along with marketing, vetting and consulting renter prospects. While dealing with an agent might be more costly, the amount of money paid goes further in providing clients with little bit of mind and ensuring a smooth and quick transaction. Even though the partnered companies say they’re counting on brokers, agents along with other property managers to complete the housing section, Facebook have not yet clarified how it plans to involve industry professionals along the way.

Transactions Won’t Be So Easy
The problem with marketing accommodations outside a mls is visibility. A brokerage will be in a position to promote the listing, making it noticeable to its own group of renters, and also the clients of other brokerages. Utilizing the Marketplace platform, landlords will need to settle with renters that are on Facebook primarily, which might lengthen the renting process. There is absolutely no vetting by a skilled agent involved also. Landlords shall suffer from all credit types, and will need to request and proceed through references and rental histories by themselves. Unless landlords find renter candidates from their very own friends list, they’ll be getting together with strangers still, to be members of exactly the same social media marketing site regardless.

It will be interested to observe how Facebook fares in its latest endeavor. However the industry will need to keep a watchful eye for signs of the social media marketing enterprise involving itself in investing property.

Liz Dominguez is RISMedia’s associate content editor. Email her your property news ideas at ldominguez@rismedia.com.

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15 Nov

Appraisals Better Match Owner Perceptions

in October

Appraisals better matched owner perceptions, to arrive only 0.99 percent less than expected, based on the latest Quicken Loans’ National Home Price Perception Index (HPPI). The most recent Quicken Loans National Home Value Index (HVI) shows appraised values rose 4.76 percent year-over-year.

A summary of the HPPI:
Owner’s estimates of these home’s value rose above the specific appraised value by typically 0.99 percent, based on the National HPPI. Month the gap between your two value opinions narrowed this marks the fifth consecutive. Also, since April 2015 the HPPI is currently the closest to equilibrium it’s been. The trend of appraisals surpassing homeowners’ in October estimates in Western cities continued, with appraisals just as much as 3.13 percent greater than expected in Dallas. However, Eastern and Midwestern cities were more prone to have an appraisal below the owner’s estimate.

“In line with the HPPI, it seems homeowners in the markets where prices are rising faster compared to the national average—like Denver, San and seattle Francisco— are continuing to underestimate how quickly home values are rising just, therefore the average appraisal is greater than the homeowner estimate,” says Bill Banfield, executive viec president of Capital Markets for Quicken Loans. “On the inverse of this, homeowners in areas where in fact the values aren’t rising as may think they’re rising faster than they’re fast, resulting in the appraisal lagging the estimate.”

A summary of the HVI:
The HVI, the only real way of measuring home value change predicated on appraisal data solely, showed values increasing at a measured pace month-over-month and making larger strides on an annual basis. Nationally, appraised values rose 0.from September to October and jumped 4 71 percent.76 percent year-over-year, based on the HVI. All regions had similar annual growth; however, the Midwest and the West had slight dips in monthly value.

“Once we enter the slower demand season in the home purchase market traditionally, persistent supply constraints might keep home prices elevated,” Banfield says. “Year set alongside the previous, our economy continues to boost and attract homebuyers and also require been on the sidelines in the past few years. This can add additional demand to the equation.”

For more info, please visit QuickenLoans.com/Indexes.

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15 Nov

Zillow Predicts Suburban Sprawl to come back in 2018

SEATTLE, Nov. 15, 2017 /PRNewswire/ — Those dreaming about rest from the ongoing inventory crisis won’t believe it is in 2018.

Next year, current homeowners can look to remodel their homes than sell rather, limiting inventory further, sufficient reason for limited space to incorporate new homes in city centers, suburban sprawl shall create a return. Newly built homes will be made with both millennials and aging adults at heart, as both generations are searching for similar features.

Zillow’s 2018 Housing Predictions:

Inventory shortages will continue steadily to impact the housing marketplace: Having less virginia homes will remain a premier concern in 2018, playing a substantial role in rising home prices. Inventory has been falling since 2011, year agoi and you can find 12 percent fewer virginia homes than there have been a. This is particularly problematic for first-time homebuyers who don’t possess the capital from the previous home sale to greatly help with the deposit, especially in hot markets like Seattle and San Jose.

Homeowners will elect to remodel rather than sell: Today’s homeowners, cautious with becoming buyers in that limited market, will elect to remodel their homes of moving instead, worsening the inventory crisis.

Baby Boomers and millennials will drive home design: Livable design features that interest both millennials and SENIORS is a focus in new construction. Homes will be made to make living simple and comfortable – for example, with wide hallways that may accommodate both wheelchairs and strollers.

More entry-level homes: Builders will react to the demand developed by more first-time buyers entering the marketplace and increase new construction of entry-level homes.

Suburban sprawl will return: The suburbs will expand because the cost of land and construction reaches a tipping point in cities. Urban living is popular the type of searching for close usage of job centers and cultural amenities, but building regulations and costs will result in increased development in the suburbs.

Home price growth will slow: Home prices will grow 4.1 percent, in accordance with a lot more than 100 housing economists and experts surveyed in the most recent Zillow® Home Price Expectations Survey. Home values are growing at 6.9 percent annually.

Statement from Zillow Chief Economist Dr. Svenja Gudell

“We’re on the far side of the housing recovery, and the true estate market looks unique of it did 15 as well as five years back quite. We have an enormous generation entering the marketplace. They would like to be homeowners really, and they’re confronted with a listing crisis that leaves them with few options. Builders won’t ignore this hungry market, and we’ll begin to visit a rise in new construction at the less expensive end, rather than all of the luxury buildings we’ve seen lately. However, builders are facing high costs also, so rather than adding density in cities where zoning land and laws costs often preclude affordable building, we’ll start to see the suburbs grow and expand outward.

“Generally in most markets round the country, housing has turned into a game of musical chairs, and nobody really wants to function as last one with out a seat. Homeowners that are buying change will turn to remodeling and redecorating rather than selling their home and facing the challenges to be a buyer in a sellers’ market.

“New homes will undoubtedly be made to be particularly attractive to the millennial and Boomer generations. Wide hallways makes it easier to move around in, in addition to make it better to navigate a wheelchair or stroller through the halls. Large drawers shall replace cabinets, making it simpler to access everyday items which were hard to attain previously.”

Zillow
Zillow may be the leading property and rental 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 operated and owned by zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is really a registered trademark of Zillow, Inc.

ihttps://www.zillow.com/research/september-2017-market-report-17073/

SOURCE Zillow

14 Nov

Get yourself a Quote, Change lives With Liberty Mutual

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Save on Services and products YOU UTILIZE Already!
In just one single year, over 800,000 REALTORS® saved a combined $59 million by firmly taking advantage of a minumum of one offering through NAR’s REALTOR Benefits® Program. Year with industry-leading companies understand how it is possible to save this, including FCA US LLC (Fiat Chrysler Automobiles), Placester, FedEx, DocuSign and much more. Learn more.

Have You Seen What’s Hidden Within the RPR® App Icon?
Introducing, digital shortcuts to the features you utilize most, within the Realtors Property Resource&reg now; (RPR®) app. Referred to as 3D Touch on iOS and Shortcuts on Android Quick, the shortcuts are about efficiency really, enabling users to get fast access to favorite RPR features such as for example nearby properties, an agent’s current listings, recent reports and saved searches. Discover the app.

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14 Nov

Report: American Dream Incomplete Without Homeownership, Parties Say

In the country’s divisive environment currently, Democrats and Republicans acknowledge a minumum of one American hallmark: homeownership.

Approximately 65 percent of Democrats and 68 percent of Republicans surveyed for the Zillow&reg roughly; Housing Aspirations Report believe the American Dream isn’t complete without homeownership. Based on the report, both ongoing parties believe homeownership is fantastic for community relationships and raising a family group, and promotes standard of living. Both believe it &ldquo also;increases standing in the neighborhood community” and is “key to an increased social status.”

Additionally, both sides believe they are able to afford their home so long as they wish to reside in it (91 percent of Republicans and 89.6 percent of Democrats), as prices reach&mdash even;and, in some certain areas, shatter—records. Based on the latest Zillow MARKET Report, home prices increased 6.9 percent year-over-year.

The capability to afford their current home for the future, however, means more are staying put. Forty percent of Republican and Democrat respondents on the West Coast—containing double-digit growth in lots of markets—usually do not plan to purchase a home for at the very least five years, if, the report reveals.

“In the right time of political division, these survey results remind us of something most Americans share: the sense that running a home is really a big section of living the American Dream,” says Dr. Svenja Gudell, chief economist at Zillow. “Homeownership—and its own capability to build a fortune, stability, and community—doesn’t be determined by political affiliation. Once we debate the national and local politics surrounding affordability and tax reform, it’s worthwhile to pause and remember a value many of us can acknowledge.”

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

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14 Nov

2017 REBAC Hall of Famers Share Their Tips for Continued Success

Today, the true Estate Buyer’s Agent Council (REBAC) boasts nearly 30,000 members and over 25,000 Accredited Buyer’s Representative (ABR®) designees.

As the is growing and flourish, REBAC singles out certain members performing exemplary acts who deserve special recognition. These outstanding ABR® designees are selected by an unbiased panel for inclusion in the REBAC Hall of Fame.

This year’s Hall of Fame inductees include Todd Beckstrom of ERA Wilder Realty, Inc., in Chapin S.C.; William Bodouva of Coldwell Banker Residential Brokerage in Port Washington, N.Y.; and Peggy Worcester of Weichert REALTORS® in Clarksville, Tenn.

How exactly did the most recent batch of REBAC Hall of Famers elevate themselves to function as best buyer’s reps within their respective markets? Here, learn what the trio does to consistently keep their name and brand top of mind differently.

“Flexibility is vital,” says Worcester, who works in a military market where buyers don’t have significant amounts of time and energy to view homes. “We need to be sensitive with their needs and schedule,” she adds.

Quite often Worcester will get a telephone call bright and in early stages any given Monday saying that her newest buyers are arriving at town for the weekend…and intend to go back to duty the next Monday having purchased a home.

On another hand, Beckstrom says he starts relationship with a mandatory buyer consultation where he&rsquo every;s asking lots of questions—his favorite from the colleague he caused a long time ago.

“She’d answer the telephone and establish rapport with the caller, and I&rsquo then;d hear: ‘Tell me about your position.’ I believe you get a lot more honesty and information with this particular one inquiry,” says Beckstrom, who targets determining the client’s ‘why’ during buyer consultations. “Addressing ‘why’ is essential since it allows me to seriously understand their motivation and keep them focused.”

But Beckstrom doesn’t educate his buyers. Actually, he wrote a patented algorithm to greatly help his clients analyze any market segment all over the world for supply and demand.

“This program takes quarter-hour to run, and my buyer becomes an instantaneous expert on market conditions. They know very well what it will require to buy the kind of house they need after using my program at howisthemarket.net,” says Beckstrom.

Bodouva earned his International President’s Elite Award (directed at the very best 2 percent of most sales associates/representatives worldwide in the Coldwell Banker System) with a well-practiced system that consistently elevates him to best-in-class status among his market’s buyer’s representatives.

“I make an effort to remain current with all the current items that can and do affect areas so I can provide accurate and relevant information, being careful never to overstep my role as a brokerage always,” says Bodouva. “Then, I read, learn, read more and share. By sharing my professional knowledge with out a self-serving agenda, every year my professional reputation is growing.”

The REBAC Hall of Famer networks in lots of professional associations also, monitoring the ever-changing needs of buyers and sellers alike carefully.

To that end, he’s focusing on a scheduled program where international buyers relocating to the U.S. can reach a professional Accredited Buyer’s Representative to aid them with both their move and buy.

While it might take years to implement this type of program in his home state of NY, Bodouva pledges that he&rsquo confidently;s onto it.

When it involves differentiating themselves among peers and colleagues, this year’s REBAC Hall of Famers each recounted specific practices they developed to shine brighter within their markets.

“I stick to top of each part of the transaction,” says Worcester. “You must have great organizational systems and skills to serve buyers, because nothing ought to be left to chance.”

Since a great deal of first-time homebuyers are hitting her market constantly, Worcester makes up about the proper time it requires to greatly help each prospect become better educated concerning the home-buying process.

“Listening may be the most significant thing whenever using buyers,” she says. “Many agents are proficient at talking, however, not listening. Whenever using buyers, you must figure out how to remain quiet and pay attention to what they’re telling you. This results in an improved experience for buyers, less wasted time and an improved transaction.”

Beckstrom helps buyers recognize that his time is of greatest value in their mind from the get-go ultimately.

“If buyers want my time, they need to play by my rules. All appointments begin in my own office. Also to see homes, they need to hire me as their agent and become pre-qualified for financing. I not merely concentrate on helping clients reach their goals, but additionally removing their stress by firmly taking just as much off their plates as you possibly can to allow them to focus on the joy of shopping for.”

After the sale has been completed, Beckstrom touches base by phone every quarter, along with sending emails, mailers of value, and much more.

Because of his practiced follow-up, each year a lot more than nine out of 10 new customers come through referrals.

Bodouva believes most agencies discourage agents from venturing in to the realm of buyer representation because of “vicarious liability.” This spells more chance of credentialed buyer&rsquo just;s agents.

“Buyer representation may be the easiest, misunderstood concept in NY property,” he observes.

When it involves leveraging his ABR® designation, Beckstrom’s initial motivation was showing potential clients he was capable.

“But I soon discovered that what I learned in the course is what made me the professional—not the designation,” he says. “I still utilize the lessons i learned over 15 years on a regular basis ago, and love teaching them to other agents being an ABR® instructor.”

Worcester displays her ABR® designation on her behalf business cards, name badge and email signature.

“I also take the proper time to discuss it within my buyer consultation,” she adds. “I explain the way the additional education gives me the data to raised aid them to find their dream home.”

building an extra layer of rely upon knowing about Worcester&rsquo

By;s ABR® designation, her clients recognize and appreciate that she goes and beyond to be always a better buyer&rsquo above;s agent.

“I’m proud to possess my ABR&reg really; designation,” says Worcester. “Don’t assume all agent has had the right time and energy to earn it, so that it apart sets me.”

Bodouva educates his clients concerning the stringent criteria he previously to perform to proudly earn and promote himself being an ABR® designee, and the countless ongoing administrative responsibilities and costs he’s got to maintain to market himself therefore.

“It really is created by me clear through positive informational comparisons that ABR® may be the benchmark of buyer representation,” he says.

For more info, please visit www.REBAC.net/HOF.

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13 Nov

Home Prices Rapidly Rise: Is History Repeating Itself?

‘Rapid Price Increases shall Not Last Forever’

The current growth in home prices is echoing the lead-up to the recession. Is history repeating itself?

The answer is probable not, in accordance with a recently released realtor.com® report. Building is without many markets—one hallmark a decade was over-construction—and credit standards tend to be more stringent, says Danielle Hale, chief economist of realtor.com.

“Once we compare today’s market dynamics to those of about ten years ago, it’s vital that you remember rising prices didn’t cause the housing crash,” Hale says. “It had been rising prices stoked by subprime and low documentation mortgages, along with people searching for short-term gains—versus today’s truer market vitality—that created the surroundings for the crash.”

In 2016, home prices (the national median home sales price) were 2 percent greater than these were in 2006, the report reveals. Pre-recession prices have returned in 31 of the 50 largest urban centers.

In contrast with 2006, however, are today’s credit conditions. Currently, the median FICO score for a home loan is 734; the median in 2006 was 700.

Builds and flips will vary from 2006&mdash also;starkly. The credit environment, among other factors, is keeping a lid on unfettered over-construction and flipping. In 2006, one household formation equaled 1.4 single-family housing starts; in 2016, that true number shrank to 0.7 single-family starts. Flips accounted for 5 percent of sales in 2016; in 2006, they comprised 8.6 percent.

“Lending standards are critical to the fitness of the market,” says Hale. “Today unlike, the boom’s under-regulated lending environment allowed borrowing beyond repayable amounts and atypical mortgage products, which pushed up home prices minus the backing of income and equity.”

Additionally, economic indicators point elsewhere. Employment was healthy then and is currently, but inventory is bound more today—at a 20-year low. Presently, the common months supply is 4.2; in 2007, the common months supply was 6.4.

“The healthy economy is creating more households and jobs, however, not giving these folks enough places to call home,” Hale says. “Rapid price increases won’t last forever. We expect a gradual tapering as buyers are priced out from the market—not just a market correction, but an easing of demand and price growth as renting or adding roommates becomes a far more affordable alternative.”

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

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

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13 Nov

New Study: Where Self-Directed PROPERTY Investors Are Buying Property

Perhaps the largest advantage self-directed IRAs offer may be the ability to spend money on everything you know. For most Entrust clients, which means property. More Entrust clients spend money on property than in virtually any other asset.

Their known reasons for investing in property include the need to diversify their investment portfolios; reap the benefits of long-term, tax-advantaged market value growth; and generate a continuing revenue stream as the asset is owned by them.

Every year, Entrust produces a written report that describes activity and trends amongst their property investors. This short article highlights their 2016 property purchases.

Where Entrust Clients Bought Real Estate
California, Texas, Colorado, Florida, and Arizona will be the top five states where clients bought property in 2016. It has been consistent for quite some time.

Looking at the set of 12 states where Entrust clients bought property, purchases in Missouri increased 4 percent over 2015 nearly. And for the 1st time, clients bought property in Ohio, Tennessee, Indiana, and Washington. California, however, remained the very best choice, with one-quarter of most purchases there made.

Taking a broader consider the regional level, purchases in the West declined by 7 percent actually. It might have already been that higher prices discouraged investors from buying there. The decline in purchases in the West was a lot more than composed for in increases in the Midwest (up 4 percent) and South (up 5 percent). This might have been the full total consequence of investors seeking property in other, less-expensive regional markets.

Where clients buy is closely linked to their current address. Arizonans and floridians, for instance, maintained their solid, completely preference for local property, and Coloradans increased their in-state purchases by 8 percent, from 72 percent in 2015 to 80 percent in 2016.

Californians (57 percent) and Texans (88 percent) were more ready to buy out of state in 2016 than in 2015. This might want to do with the hot property markets in those two states, with investors searching for better deals a little farther afield.

What Investors Covered PROPERTY in 2016
A go through the currency markets, unemployment figures, or the continuing business news implies that the U.S. economy is picking right up steam. Generally, the true estate market is warming up, as well. As a total result, Entrust clients paid more in 2016, once the average price was $192,563, in comparison to 2015 ($177,777 average price).

But not absolutely all regions benefited from higher prices equally. Start to see the top five states average purchase prices price fluctuation in the full report here.

What Sort of Property Investors Bought
Historically, investors have preferred single-family residences, and that held true in 2016. The real amount of single-family houses bought increased 7 percent over 2015, from 44 percent to 51 percent. Multi-family residence accounted for over 25 % (27 percent) of purchases. The big change came in clients buying vacant land; that true number increased from 12 percent to 18 percent year-over-year. Commercial property purchases declined from 3 percent to at least one 1 percent in 2016.

Learn More
The complete 2017 PROPERTY Investor GENERAL MARKET TRENDS Report, including info on the U.S. rental market, can be acquired on The Entrust Group website. The Real Estate IRA Center also provides comprehensive here is how to purchase real estate making use of your self-directed IRA.

Download the most recent PROPERTY Investor GENERAL MARKET TRENDS Report here.

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10 Nov

Homeownership is a Shared Value across Party Lines

SEATTLE, Nov. 10, 2017 /PRNewswire/ — Homeownership is an American value that transcends political parties, according to the Zillow® Housing Aspirations Report™i. The biannual survey found that 68.7 percent of Republicans and 65.1 percent of Democrats see owning a home as essential to living the American Dream.

About two-thirds of self-identified Republicans and Democrats agreed that homeownership is key to a higher social status, and close to three-quarters of respondents who identified with either party also believe that being a homeowner increases standing in the local community.

Many issues have a distinct political divide, but the majority of Republicans and Democrats agree on the value of owning a home. National homeownership rates are returning from a historical low point following the housing crisis, a signal that the recession did not fundamentally harm overall sentiment toward homeownership. Millennials, who delayed homeownership but are finally buying homes, are the generation most likely to say homeownership is part of the American Dream, regardless of political affiliation.

“In a time of political division, these survey results remind us of something most Americans share – the sense that owning a home is a big part of living the American Dream,” said Zillow Chief Economist Dr. Svenja Gudell. “Home ownership — and its ability to create wealth, stability, and community – doesn’t depend on political affiliation. As we debate the national and local politics surrounding affordability and tax reform, it’s worthwhile to pause and remember a value most of us can agree on.”

The survey showed Americans across the country agree that buying a home is part of the American Dream and a good financial decision in markets that are regularly setting record-high prices and those that have yet to recover from the housing crash.

Los Angeles is one of the least affordable housing markets in the country, and nearly half of the survey respondents expect they will have to wait at least three years to buy a home. However, Los Angeles residents are more likely than residents of other large metropolitan areas to say that owning a home is necessary to live the American Dream, with 72 percent of respondents agreeing with the statement.

In Las Vegas, home values are still 23.3 percent below the peak values set during the housing bubbleii, and 15.9 percent of homeowners are underwater on their mortgagesiii. Despite this, 67 percent of respondents agree that homeownership is essential to the American Dream.

The survey also revealed that even amidst rapidly rising home values, most Americans feel confident that they will be able to stay in their current homes as long as they would like, but residents of the most expensive metros are less certain they will eventually be able to buy their own home. Ninety-one percent of Republicans and 89.6 percent of Democrats report feeling confident that they will be able to afford to stay where they live now, but at least 40 percent of respondents in West Coast markets don’t plan on buying a home for at least five years, if they ever do.

Republicans and Democrats alike tend to think that homeownership offers advantages beyond financial benefits. The vast majority of respondents to the survey view owning a home as better for raising a family, making ties within the community, and overall quality of life, regardless of their local housing market.

The Zillow Housing Aspirations Report is a semi-annual survey sponsored by Zillow and conducted by IPSOS. It asks 10,000 renters and homeowners in 20 metros across the country about their views on homeownership and their personal housing expectations for the future.

Agree that owning a home is necessary
to live The American Dream

Metropolitan Area

Democrat

Republican

Atlanta, GA

67.3%

66.2%

Boston, MA

62.2%

66.5%

Chicago, IL

64.7%

56.7%

Dallas-Fort Worth, TX

64.9%

62.4%

Denver, CO

60.3%

66.4%

Detroit, MI

64.9%

67.0%

Las Vegas, NV

69.5%

64.3%

Los Angeles-Long Beach-Anaheim, CA

69.1%

76.0%

Miami-Fort Lauderdale, FL

73.9%

72.2%

Minneapolis-St Paul, MN

52.6%

63.4%

New York, NY

64.6%

72.1%

Philadelphia, PA

61.7%

75.8%

Phoenix, AZ

71.9%

70.6%

San Diego, CA

64.3%

66.0%

San Francisco, CA

69.4%

75.2%

San Jose, CA

67.5%

71.8%

Seattle, WA

60.4%

68.7%

St. Louis, MO

62.5%

68.7%

Tampa, FL

66.1%

68.2%

United States

65.1%

68.7%

Washington, DC

63.4%

76.9%

Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, 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 more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over 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 a registered trademark of Zillow, Inc. Housing Aspirations Report is a trademark of Zillow, Inc.

i The Zillow Housing Aspirations Report is computed from an IPSOS poll which combines sample of 10,000 U.S. adults from 20 U.S. core-based statistical area (CBSA) metropolitans (Atlanta, Boston, Chicago, Dallas, Denver, Detroit, Los Angeles, Las Vegas, Miami, Minneapolis, New York, Philadelphia, Phoenix, St. Louis, San Diego, San Francisco, San Jose, Seattle, Tampa, and Washington, D.C.) age 18+, surveyed online in English. The survey has a credibility interval of plus or minus 1.1 percentage points for all respondents from the 20 U.S. metropolitans and approximately 5.0 percentage points for an individual U.S. metropolitan. Post-hoc weights were made to the population characteristics on gender, age, region, and race and ethnicity. For more information about conducting research intended for public release or IPSOS’ online polling methodology, please visit the Public Opinion Polling and Communication page.

iihttps://www.zillow.com/research/september-2017-market-report-17073/

iiihttps://www.zillow.com/research/q1-2017-negative-equity-15888/

SOURCE Zillow