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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.

REALTOR® University: High-Level Learning for Top-Level Leadership
Whether you’re a recently available graduate or have already been working for twenty years, higher education can result in new opportunities. A Master of PROPERTY degree from REALTOR® University will provide you with the scholarly education that provides you a competitive advantage in your industry. July 3 another session starts. Inquire today.

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. Understand how it is possible to save this season with industry leading companies including FCA US LLC (Fiat Chrysler Automobiles), Placester, FedEx, DocuSign and much more. Start saving.

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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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20 May

NAHB: Affordability Grows as Incomes Inch Up

The most affordable housing market in the country is the Youngstown-Warren-Boardman, Ohio major metropolitan area, where more than 92 percent of all homes sold in the first quarter of 2017 were affordable to those earning the area’s median income, according to the recently released National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). At the national level, over 60 percent of homes sold were affordable to those earning the nation’s median income—an increase from the fourth quarter of 2016.

“Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keep home prices affordable,” said Robert Dietz, chief economist at the NAHB, in a statement on the Index. “NAHB anticipates that housing will continue on a gradual, upward path throughout the year.”

Outside of major metropolitan areas, the most affordable housing market in the country is Kokomo, Ind., according to the Index. More than 96 percent of homes sold in the first quarter were affordable to those earning the area’s median income.

Other affordable major metropolitan markets include Elgin, Ill., Scranton-Wilkes Barre-Hazleton, Pa., Buffalo-Cheektowaga-Niagara-Falls, N.Y., and Syracuse, N.Y. Other affordable markets outside of metropolitan areas include Glen Falls, N.Y., East Stroudsburg, Pa., Binghamton, N.Y., and Lansing-East Lansing, Mich.

On the other end of the spectrum, the San Francisco-Redwood City-South San Francisco, Calif. major metropolitan area is the least affordable housing market, where approximately 11 percent of homes sold in the first quarter were affordable to those earning the area’s median income.

Source: National Association of Home Builders (NAHB)

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20 May

Dean A. deTonnancourt: Succeeding With a ‘Sharing-Based’ Environment

With 28 years of experience in the real estate industry, Dean A. deTonnancourt, broker/owner of HomeSmart Professionals Real Estate in Warwick, R.I., has a lot of know-how to offer those who work for him, and he’s always thrilled to share his experiences.

“I’ve enjoyed personal sales success on many levels during my career,” says deTonnancourt. “What I now love most is working with our associates and helping them achieve unlimited levels of success. We celebrate everything at HomeSmart Professionals Real Estate. Regardless of the associate’s goal, we’re going to celebrate their accomplishments.”

Last year was a strong one for the firm, as business increased from 484 transactions to 852 transactions, thanks to a continued growth in agent count, as well as increased personal productivity among the firm’s individual associates.

“What’s setting us apart in the marketplace right now is the energy and excitement of our associates,” says deTonnancourt. “Call it culture, call it camaraderie, but our associates display a sharing-based attitude where all associates support each other in individual and mutual success. The mindset is contagious.”

Business is expected to rise again in 2017, thanks to some recent expansion.

“We just opened our second location at the beginning of the year in Northern Rhode Island,” says deTonnancourt. “Our growth projection includes increased agent count as well as additional branch locations throughout Rhode Island and nearby Massachusetts and Connecticut.”

The market in Rhode Island is currently displaying a record-low inventory, causing a highly competitive marketplace. deTonnancourt notes that more competition, coupled with lower listing inventory and multiple-offer scenarios, are now a regular occurrence.

“With a larger salesforce, we’re seeing an increased marketshare and brand awareness,” he says. “Consumer confidence is critical in any market, and HomeSmart has quickly become known as a leader in the Rhode Island marketplace.”

The firm’s compensation model is new and unique to the marketplace, attracting associates at every level of production.

“With associates working harder against increased competition, the awareness for income retention is heightened. Associates are realizing more and more that at the end of the day, it’s not about what you earn; it’s about what you keep,” says deTonnancourt. “Our compensation model recognizes this specific theory and puts the associate in more control of their finances, ultimately benefiting the consumer.”

Of course, deTonnancourt’s experience has taught him that every consumer responds differently to the marketplace, and associates need to be equipped with education and resources specific to the needs of the individual.

“HomeSmart was founded on technology. Our proprietary technology platform allows our associates to remain on the cutting edge with innovative tools and customizable marketing pieces,” says deTonnancourt. “Our monthly educational calendar focuses on the core principle of running an individual real estate business, rather than what most would consider a sales job. Conversations related to timely topics in a classroom setting or business-meeting format aid our associates in competing in any market.”

Vitals: HomeSmart Professionals Real Estate
Years in Business
: 28
Size: 2 offices, 150 associates
Regions Served: Rhode Island and nearby Massachusetts and Connecticut
2016 Sales Volume: $190 million
2016 Transactions: 852
www.therhodehome.com

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