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		<title>Myth-Busting the Value of Solar Panels in Real Estate Sales</title>
		<link>https://realestateagentmagazine.com/myth-busting-the-value-of-solar-panels-in-real-estate-sales</link>
		
		<dc:creator><![CDATA[Eric Bramlett]]></dc:creator>
		<pubDate>Wed, 12 Apr 2023 22:31:39 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
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					<description><![CDATA[Homeowners reap significant savings from solar, often as much as mortgage costs. Why aren’t we telling them?  Conventional wisdom in the real estate industry is that homeowners with solar panels will not see a return on their investment – ever. But agents should refuse to accept this and, instead, learn to market a home’s solar [&#8230;]]]></description>
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									<p><em><strong>Homeowners reap significant savings from solar, often as much as mortgage costs. Why aren’t we telling them? </strong></em></p><p>Conventional wisdom in the real estate industry is that homeowners with solar panels will not see a return on their investment – ever. But agents should refuse to accept this and, instead, learn to market a home’s solar panels to prospective buyers not just around clean energy but around the significant cost savings – something that seems to be forgotten.</p><h2><strong>The Cycle of Misinformation </strong></h2><p>Agents are taught that solar panels have a 0% return from appraisers. Solar panels are not commonplace (yet) so it’s often an edge case when agents have to price a home with solar panels. Because there are relatively few properties to use as comps, agents turn to appraisers who educate them that “solar panels have a 0% return.” This is a self-perpetuating cycle because agents educate other agents on what they have learned, who then instruct sellers and buyers on other homes for sale: “Solar panels have zero value on a residential property.”</p><p><br /><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-9718058322367604" crossorigin="anonymous"></script><br /><ins class="adsbygoogle" style="display: block; text-align: center;" data-ad-layout="in-article" data-ad-format="fluid" data-ad-client="ca-pub-9718058322367604" data-ad-slot="6506584785"></ins><br /><script>
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</script></p><h2>The Reality: Reduced Cost of Home Ownership</h2><p>The reality is that solar panels significantly reduce a homeowner’s cost of home ownership. Yet the problem remains that agents focus too much on the cost to install the system, rather than the amount of money the system will save the homeowner. The cost to own a home not only consists of PITI (mortgage, taxes and insurance), but also energy, water and maintenance. Since solar panels reduce or eliminate a homeowner’s energy cost, they significantly reduce cost of ownership.</p><p>For example, one of our firm’s clients in Austin, TX, installed solar panels and their calculations are that they reduce cost of ownership by $400/month. This is a larger system than the average at 13kW, so this system has above-average results, but the average system in the United States should save consumers $67 to $323 per month, according to EnergySave.</p><h2>Stop the Cycle with Accurate Calculations and Effective Marketing</h2><p>An agent should ask themselves, how can I best market these solar panels? By converting energy into cost of ownership savings and converting cost savings into a mortgage equivalent.</p><p>Let’s consider our client’s home. Our brokerage, Bramlett Residential, serves the Austin, TX, market. The average home in Austin is roughly $650,000. The average home in Austin with a solar electric system similar to our client’s will have the cost of ownership of a $585,000 home. When mortgage rates go down (and we all hope they do) the comparable cost of ownership savings go up. On average, their solar panels will save $400 per month in energy costs. $400 per month at 6.5% is just under a $65,000 mortgage, so their solar panels will save the next buyer $65,000 in purchasing power. If/when mortgage rates drop to 4%, the cost savings are comparable to $85,000 in purchasing power, so lower rates means a greater cost of ownership savings!</p><p><br /><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-9718058322367604" crossorigin="anonymous"></script><br /><ins class="adsbygoogle" style="display: block; text-align: center;" data-ad-layout="in-article" data-ad-format="fluid" data-ad-client="ca-pub-9718058322367604" data-ad-slot="1195667918"></ins><br /><script>
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</script><br />Yet our brokerage recommends sellers price their solar-powered homes comparably to homes without solar. The reason is, while the value is clearly there, the education to the broader market is not – yet. We recommend that, instead, agents highlight the cost savings in the marketing remarks that are syndicated across all real estate portals.</p><p>Our solar marketing package includes a PDF that highlights the solar home and the cost savings, along with the calculations that get us to those savings. We upload that PDF to the MLS and mention it in agent remarks. We also leave a hard copy at the home and include a digital copy in the listing photos online.</p><p>At our brokerage, we have leveraged these steps to get multiple offers and sold prices far above asking. By appealing to the buyer’s wallet, it becomes more palatable for the person to pay a higher price when the baked-in cost savings from solar panels have been well communicated.</p><h2>Marketing Solar Cost Savings Must Become Commonplace</h2><p>As weather becomes more severe across the United States and electrical grids more vulnerable, interest in solar power will continue to rise amongst consumers. This is an opportunity for brokerages to adopt these marketing strategies and commit to making them commonplace so that buyers understand and accept not only the significant cost savings, but also the opportunity to tap a clean energy source.</p>								</div>
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									Eric Bramlett								</div>
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									Eric Bramlett is the owner of Bramlett Residential, a top performing real estate brokerage in Austin, Texas. Widely regarded as an industry innovator, Eric has developed new systems and proprietary technologies to help his agents gain efficiencies and become industry leaders. Eric is a multi-year Austin Business Journal Residential Real Estate award winner and has career production in the top 1% of agents in the United States.								</div>
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		<title>Is the Real Estate Market More Attractive to Potential Investors After the SVB Debacle?</title>
		<link>https://realestateagentmagazine.com/is-the-real-estate-market-more-attractive-after-svb-debacle</link>
		
		<dc:creator><![CDATA[Steve Davis]]></dc:creator>
		<pubDate>Mon, 27 Mar 2023 18:43:12 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=5076</guid>

					<description><![CDATA[The collapse of Silicon Valley Bank on March 10, 2023, kicked off a turbulent time in the financial sector. Within a week, Signature Bank was seized by regulators in an attempt to prevent a domino effect, the US Federal Reserve set up an emergency lending program for banks, and regional bank stocks plummeted. The activity [&#8230;]]]></description>
										<content:encoded><![CDATA[<p>The <a href="https://www.theguardian.com/business/2023/mar/17/why-silicon-valley-bank-collapsed-svb-fail" target="_blank" rel="nofollow noopener">collapse of Silicon Valley Bank</a> on March 10, 2023, kicked off a turbulent time in the financial sector. Within a week, Signature Bank was<a href="https://www.bloomberg.com/news/articles/2023-03-14/signature-was-seized-after-leaders-caused-crisis-of-confidence" target="_blank" rel="nofollow noopener"> seized by regulators</a> in an attempt to prevent a domino effect, the US Federal Reserve set up an<a href="https://www.investopedia.com/bank-term-funding-project-7367897" target="_blank" rel="nofollow noopener"> emergency lending program</a> for banks, and regional bank stocks<a href="https://www.nytimes.com/2023/03/13/business/regional-bank-stocks.html" target="_blank" rel="nofollow noopener"> plummeted</a>. The activity even prompted President Joe Biden to reassure tax payers that they would not be called upon to foot the bill for<a href="https://www.usatoday.com/story/news/politics/2023/03/13/silicon-valley-signature-bank-collapse-joe-biden-taxpayer-funds/11463729002/" target="_blank" rel="nofollow noopener"> bank bailouts</a>.</p>
<p>The SVB-inspired financial turmoil has left real estate agents wondering how — if it all — the real estate market will be affected. A key question is whether the market will be more attractive to investors in the wake of the SVB failure. That question is difficult to answer without knowing just how much fallout there will be.</p>
<p>If SVB turns out to be the first of a dozen banks that fail over the next several months, average home buyers will start to panic, stop house hunting, and sit on their assets. In that case, real estate prices will drop, providing investors with a great opportunity to pick up real estate at discounted prices. As British financier Nathan Rothschild said, “The time to buy is when there’s blood in the streets.” Whether that will happen remains to be seen.</p>
<p>What we do know is that SVB has not had an impact on rising interest rates. Speculation in mid-March that the SVB collapse could keep the Federal Reserve from<a href="https://www.foxbusiness.com/personal-finance/svb-shutdown-affect-interest-rates" target="_blank" rel="nofollow noopener"> raising rates</a> proved to be wrong. The rate climbed to<a href="https://www.nbcnews.com/business/economy/inflation-federal-reserve-bank-collapse-fears-rcna75736" target="_blank" rel="nofollow noopener"> 5 percent</a> on March 22, 2023, marking a 4.5 percent increase during the past 12 months.</p>
<p>As rates continue to climb, sellers must lower prices to allow the capitalization rate necessary for securing a mortgage. For a real estate investor, that is good news. Recent stats shared by<a href="https://www.dallasnews.com/business/real-estate/2023/03/19/investors-bought-1-in-4-homes-in-d-fw-last-year-most-were-not-big-wall-street-firms/" target="_blank" rel="nofollow noopener"> The Dallas Morning News</a> show that nearly 30% of single-family homes sold in the Dallas-Fort Worth (DFW) area in 2022 were bought by investors. It also said most investors were not big Wall Street firms. That means approximately one out of every three DFW buyers was a local investor.</p>
<p>The behavior of investors in DFW is not limited to that market. Stats shared by<a href="https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2022/07/22/investors-bought-a-quarter-of-homes-sold-last-year-driving-up-rents" target="_blank" rel="nofollow noopener"> Pew Charitable Trusts</a> in July 2022 showed nearly 25% of all single-family homes sold across the US in 2021 were purchased by investors. In Georgia and Arizona, more than 30% of single-family home sales went to investors. In California and Texas, 29% of homes were purchased by investors.</p>
<p>Real estate agents who want to capitalize on the stirrings in the market should reach out to investors, as well as those looking to become owner/occupants. They should tell potential investors that interest rates are driving prices down while rents continue to go up. The high interest rates could mean investors will only make $200 to $300 per month when renting a single-family home. However, those rates are expected to come down<a href="https://www.cnbc.com/2023/03/07/why-homebuyers-shouldnt-wait-until-2024-for-cheaper-home-costs.html" target="_blank" rel="nofollow noopener"> next year</a>. By refinancing at a lower rate when rates decline, the monthly return on the property can increase to $500 to $600 per month.</p>
<p>Should the SVB debacle trigger a real estate collapse, those focused on investing in rental properties would welcome it. An income-producing asset — like a rental property — delivers in both an up market and a down market. The equity that an investor has in the home may decline, but the rental income won’t.</p>
<p>Smart investors also know that buying rental properties in a down time sends their rate of return through the roof. If the collapse of SVB leads to a huge crash, real estate investors stand to make millions of dollars over the next five to seven years.</p>
<p>How should real estate agents prepare for the possibility of a huge crash? They should double and triple their efforts to get on investors’ lists. Then, when the market goes south, they will be ready to connect with those investors, reminding them that houses are selling for 30-40% less than they will sell for when the market recovers. Smart real estate investors will be quick to pick up those calls.</p>
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		<title>Real Estate Leaders Ready for the 2023 Housing Market?</title>
		<link>https://realestateagentmagazine.com/real-estate-leaders-ready-for-the-2023-housing-market</link>
		
		<dc:creator><![CDATA[Scott Agnew]]></dc:creator>
		<pubDate>Fri, 23 Dec 2022 16:19:07 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4783</guid>

					<description><![CDATA[It is very common for realtors and the like to be making predictions about where the market will be heading in 2023. This is something that cannot genuinely be done by anyone, but rather we can look back in history for the data at large. When doing so, we know that real estate comes in [&#8230;]]]></description>
										<content:encoded><![CDATA[<p>It is very common for realtors and the like to be making predictions about where the market will be heading in 2023. This is something that cannot genuinely be done by anyone, but rather we can look back in history for the data at large. When doing so, we know that real estate comes in cycles. We do not know when they are going to happen, but that will not stop us from preparing for these changes regardless of their time frame. In order to do so, it is very important to create strategies for both your mind and your actions to help deal with markets that shift, even when unpredictably or rapidly. To be successful, one must understand that it doesn’t really matter what the market is doing, it is simply our job to get our share.</p>
<p>After watching the market for quite some time, I have learned that there are a few strategies that realtors can implement in order to weather the storms that will come. To understand such an idea, I feel it is best to break them down into four key goals and then how this will convert to clients and success.</p>
<p>The first thing which I feel realtors should be watching for is signs of the market slowing down. When this is indicated, the most important thing which can be done is to encompass the idea of increasing your activity. When I speak of an increase in activity, this can often be done through more frequent and powerful marketing, in addition to ensuring that you are making more competitive offers to potential clients. Generating leads and traction should be made a top priority throughout this time.</p>
<p>The second important area to understand is that scrutinizing business expenses is a key tool and should be done frequently. As a realtor, ensuring that you are not throwing money away on things that don’t generate revenue or immediately give lead opportunities is something that needs to be reviewed regularly. It is easy to have this slip through the cracks, but it decreases resourcefulness and in turn success. Having strong vendor partners and reinventing your teams to have the ability to do more with less is always something to strive toward.</p>
<p>The third area which should be explored can be remembered through a key phrase that I like to use; fish in the pond where the fish are. When considering the different approaches to lead generation, a realtor wants to ensure that they are working with the people whom they know are already interested. I recommended accomplishing this through direct emails to individuals and offering educational opportunities for buyers and sellers. When receiving responses, you can analyze where your client is at in their journey.</p>
<p>Once an individual has implemented these strategies and techniques, the fourth area which must be looked at is conversion strategies. I find that this is where many people fall short as a realtor, but is truly the secret to scaling. When a client raises their hand by piquing their interest, it is now your job to pursue this lead through any means necessary. The goal is to stay top of mind, whether they are ready to take steps with you now or in the future. Geographical farming and niche farming are two tried and true methods that I have used to accomplish such goals.</p>
<p>Overall, after analyzing the market in its current state, we can see that seller financing and builders offering points to buy down rates are currently very successful strategies. They are opportunities that are not always on the table but have arisen as the market has begun changing. Currently, I feel that we are in a neutral market where it is not heavily leaning toward one side or the other. However, by looking at statistics such as these, we may start heading to a buyer’s market in the near future.</p>
<p>As we do so, ideally, you will have implemented these strategies into action and when the buyer’s market approaches, have clients who are ready to work with you. The reality is that if your client is buying when everyone is buying, there is little to no leverage. As this shifts, there are opportunities to negotiate reasonably and show your skills to the public.</p>
<p>Once in a transaction, communication is the foundation of a strong and successful relationship.  Reach out with information and updates each day and make sure that your clients know that you are working diligently for them. Realtor’s want to make sure that no matter what article or news comes out, your deals that are in escrow do not become jeopardized.</p>
<p>In conclusion, as a realtor, you must always keep your mind right. Know that cycles will come and go and when one opportunity dwindles, another side of the opportunity is enhanced. Increase your activities, make lead generation a higher percentage of your work time, and take care of your clients. Real estate is a 24/7 type of job, but it is incredibly rewarding in the end.</p>
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		<title>Reasons For Optimism Among The Continued Drop In Existing Home Sales</title>
		<link>https://realestateagentmagazine.com/reasons-for-optimism-among-the-continued-drop-in-existing-home-sales</link>
		
		<dc:creator><![CDATA[Matt Picheny]]></dc:creator>
		<pubDate>Wed, 21 Dec 2022 18:58:02 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4760</guid>

					<description><![CDATA[Last month, the National Association of Realtors published their most recent data on existing home sales. Unfortunately, October saw the ninth straight month of declines with sales of previously owned homes falling 5.9% from the prior month. The rise in mortgage rates, which significantly increase the cost of home ownership, was likely the biggest catalyst. [&#8230;]]]></description>
										<content:encoded><![CDATA[<p>Last month, the National Association of Realtors published their most recent data on existing home sales. Unfortunately, October saw the ninth straight month of declines with sales of previously owned homes falling 5.9% from the prior month. The rise in mortgage rates, which significantly increase the cost of home ownership, was likely the biggest catalyst. Back-to-back months of declining sales bring back bad memories of the housing crisis in 2008… but there are several important reasons why this is unlikely to be the case today.</p>
<p>As a licensed real estate agent and investor in dozens of multi-family properties across the U.S., we are witnessing firsthand the impact on owners and their agents. First, while we are seeing a softening in the valuation of properties in both commercial and residential real estate, we are in a much different place than the 2008 housing crash. Several important regulations came out of that crisis, which changed the rules for lenders, forced banks to have more stringent underwriting, and perhaps most importantly, required borrowers to demonstrate a stronger financial picture. As a result, the mortgages being issued since then are much more sound. Plus, on average, owners have much more equity in their properties.</p>
<p>This is important to remember because the profile of who is selling now is vastly different. We are not likely to see the emergency “fire sales” that we once saw, which artificially drove down prices even further because owners were underwater – where the property was worth less than what they owed on it. Fewer sales in our current case are due to the fact that if people don’t need to move, they won’t.</p>
<p>Which brings us to our second point. The main factor driving a decrease in sales comes down to simple math. With the meteoric rise in interest rates, the cost of homeownership has increased, which pushes some buyers out of the market. This creates less demand, which in turn means there is more supply – and lower prices. These lower prices mean that homeowners who otherwise would have sold to make the return they envisioned will now hold off. Many prospective buyers would need to secure a much lower purchase price to make up for the difference in mortgage rates – and the fact is, owners just don’t want to discount to that level. So, the result is a decrease in prices and ultimately fewer sales.</p>
<p>Lastly, a change in prices only matters when it comes time to sell. I’m reminded for example of my first experience in real estate – before I became an agent or even an investor and entrepreneur. In 2008, I saw the value of my apartment sink back down to around the price I had purchased it for. I wasn’t “underwater”, but I certainly was sad to lose all the appreciation on it.</p>
<p>When I had purchased it, my father told me something that I don’t think I truly understood until 2008. He said, “you never lose money in real estate if you never have to sell.” It’s very simple, yet profound. The value of the property doesn’t matter while you own it. It only matters when you go to sell it. And as long as I made the mortgage payment, I didn’t need to sell.</p>
<p>Real estate, like the rest of the economy, moves in cycles. While many owners may want to sell when the market is depressed, it’s critical to be able to wait until the market is back up again. It’s certain that the markets will always go up, just as they always go down. The variables are how far up or down they go and the timing of those cycles. Predicting those variables? That’s something even the best and brightest get wrong. So, you need to be able to carry the costs if necessary, and wait for better market conditions.</p>
<p>While it sounds simple, this is likely the mindset that many owners have right now. The economy, at least as of now, is in a better position than it was in 2008-2009 and many owners want to get the value for their property they expect. And if they can’t get that now, they’re going to wait. Unfortunately, this means fewer sales to work with for now… but there are lots of factors to consider, many of which will continue to change in the weeks and months ahead.</p>
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		<title>How A Month-To-Month Rental Agreement Works</title>
		<link>https://realestateagentmagazine.com/how-a-month-to-month-rental-agreement-works</link>
		
		<dc:creator><![CDATA[Luke Wilhoit]]></dc:creator>
		<pubDate>Mon, 22 Aug 2022 16:26:29 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4573</guid>

					<description><![CDATA[When executed, a lease agreement is a legal contract that details the expectations of the tenant and the landlord. A lease not only provides a tenant and landlord with important legal protections but also essential lease terms like the rent, security deposits, occupancy limitations, termination dates, utilities, and other basic data. Most residential rental agreements [&#8230;]]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400;">When executed, a lease agreement is a legal contract that details the expectations of the tenant and the landlord. A lease not only provides a tenant and landlord with important legal protections but also essential lease terms like the rent, security deposits, occupancy limitations, termination dates, utilities, and other basic data.</span></p>
<p><span style="font-weight: 400;">Most residential rental agreements between a landlord and tenant have expiration dates extending at least 12 months. Many of these annual leases offer a renewal option for continued occupancy under certain conditions.</span></p>
<p><span style="font-weight: 400;">However, not every landlord or tenant wants to trap themselves for a year or more, so some may prefer not to sign long-term, annual </span>lease documentation.</p>
<p><span style="font-weight: 400;">Fortunately, in these situations, a </span><a href="https://www.ezlandlordforms.com/documents/rental-lease-agreements/" target="_blank" rel="nofollow noopener">simple month-to-month rental agreement</a> <span style="font-weight: 400;">offers a viable, open-ended alternative to a long-term rental commitment.</span></p>
<h2><b>What is a Month-to-Month Lease?</b></h2>
<p><span style="font-weight: 400;">A month-to-month lease, which may include a </span>month-to-month room rental agreement <span style="font-weight: 400;">establishes a</span><a href="https://www.lawinsider.com/dictionary/legal-occupancy" target="_blank" rel="nofollow noopener"> <span style="font-weight: 400;">legal occupancy</span></a><span style="font-weight: 400;"> relationship. It differs from a traditional rental lease because a monthly lease has NO specific end date.</span></p>
<p><span style="font-weight: 400;">Many think a month-to-month rental agreement refers exclusively to a short-term arrangement. Yet, if a landlord and tenant can maintain a relationship that meets each of their needs, a month-to-month lease has the potential to last for years.</span></p>
<p><span style="font-weight: 400;">A month-to-month rental agreement is usually offered with an automatic renewal feature. In fact, unless the tenant or landlord gives </span><i><span style="font-weight: 400;">proper notice </span></i><span style="font-weight: 400;">to terminate the contract, a monthly lease will renew each month</span><i><span style="font-weight: 400;">.</span></i></p>
<p><span style="font-weight: 400;">The number of days required to </span><i><span style="font-weight: 400;">give notice</span></i><span style="font-weight: 400;"> depends on the rental unit’s location, plus any relevant lease provisions. Proper notice for a month-to-month lease may mean giving advance notice of 15, 30, 60, or 90 days.</span></p>
<p><span style="font-weight: 400;">For up-to-date information on the tenant-landlord laws in your state, check out the</span><a href="https://www.hud.gov/states" target="_blank" rel="nofollow noopener"> <span style="font-weight: 400;">U.S. Department of Housing and Urban Development</span></a><span style="font-weight: 400;">’s webpage that consolidates state links to the relevant and topical landlord and tenant laws and other real estate trends.</span></p>
<h2><b>The Advantages of a Simple Month-to-Month Rental Agreement</b></h2>
<h3><b>For Landlords</b></h3>
<p><span style="font-weight: 400;">Consider these advantages of a simple month-to-month rental agreement that is offered to landlords –</span></p>
<h4><b><i>They offer flexibility not available with a longer-term lease.</i></b></h4>
<p><span style="font-weight: 400;"><strong>Rent prices can be adjusted more with a monthly lease.</strong> </span><span style="font-weight: 400;">The past few pandemic years have been characterized by rising rents – driven by a rental demand far outpacing the growth of home supply. (</span><a href="https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Americas_Rental_Housing_2022.pdf" target="_blank" rel="nofollow noopener"><span style="font-weight: 400;">See Harvard University’s JCHS Study 2022</span></a><span style="font-weight: 400;">) In a market with rising rents, waiting for a lease to expire to modify the rent to current levels can be frustrating.</span></p>
<p><span style="font-weight: 400;"><strong>There is no penalty for ending the lease on the landlord’s timeline.</strong> The Spring/Summer selling seasons are the best time to list because of i</span><span style="font-weight: 400;">mproved weather for viewing potential properties; t</span><span style="font-weight: 400;">he weather is better for moving; and a </span><span style="font-weight: 400;">family can move and settle prior to the new school year.</span></p>
<p><span style="font-weight: 400;"><strong>Adjust leasing terms and conditions as situations warrant.</strong> For example, a landlord may decide that he/she will no longer accept tenants with dogs larger than 40 pounds.</span></p>
<p><b>They are a great choice for first-time landlords. </b><span style="font-weight: 400;">A month-to-month lease is a great option to test the waters of property ownership. Consider using this time to solidify the process you use to screen tenants or find support personnel (contractors, etc.) to assist as needed.</span></p>
<p><b>A landlord can extend the initial lease at the tenant’s request. </b><span style="font-weight: 400;">A monthly lease is a smart, simple way to help the good tenants (who are moving out) by providing them with some wiggle room with regard to time.  </span></p>
<p><b>They offer greater control over who will occupy the unit. </b><span style="font-weight: 400;">Landlords have the capacity to remove less than ideal tenants more quickly by giving appropriate notice.</span></p>
<p><b>They make it easier for the current owner to exchange the property if they decide to sell. </b><span style="font-weight: 400;">Selling a rental property can become tricky when trying to negotiate the terms of a sale with a long-term tenant still occupying the premises.</span></p>
<h3><b>For Tenants</b></h3>
<p><span style="font-weight: 400;">Consider these advantages for tenants.</span></p>
<p><b>They can leave the property when they want with proper notice. </b><span style="font-weight: 400;">Often, the very reason a tenant chooses a month-to-month rental agreement is because they can move quickly. If they find a better rental deal, they are only required to give notice.</span></p>
<p><b>Short-term tenancies offer peace of mind to some individuals. </b><span style="font-weight: 400;">Many people personally feel trapped by a long-term lease.</span></p>
<h2><b>The Disadvantages of a Month-to-Month Rental Agreement</b></h2>
<h3><b>For Landlords</b></h3>
<p><b>The landlord assumes the increased risk of a potential vacancy, which may interrupt cash flow. </b><span style="font-weight: 400;">It becomes difficult to anticipate future income when budgeting because of the potential for higher tenant turnover and</span><a href="https://www.american-apartment-owners-association.org/property-management/hidden-cost-of-tenant-turnover" target="_blank" rel="nofollow noopener"> <span style="font-weight: 400;">higher hidden costs</span></a><span style="font-weight: 400;">.  </span></p>
<p><b>Finding new tenants on short notice can be challenging, depending on the specific market and conditions. </b><span style="font-weight: 400;">A landlord may make a</span> <span style="font-weight: 400;">short-sighted decision</span><span style="font-weight: 400;"> and take on a problematic tenant to keep the property&#8217;s cash flow stable.</span></p>
<p><b>Frequent screening for new tenants and higher maintenance/cleaning costs. </b><span style="font-weight: 400;">This process is necessary but time-consuming.</span></p>
<h3><b>For Tenants</b></h3>
<p><b>A landlord can end the lease with proper notice. </b><span style="font-weight: 400;">If unprepared and given short notice, a tenant may face stressful situations as they must find new living arrangements quickly.  </span></p>
<p><strong>The terms and monthly rent can change with proper notice.</strong></p>
<p><b>Short-term rentals tend to have higher average rents </b>because the landlord agrees to absorb the uncertainty or risk of future rent payments.</p>
<h2><b>The Take-Away</b></h2>
<p>The month-to-month rental agreements that you use must be up-to-date with regard to federal, state, and local housing and property law. When you choose an online, simple month-to-month rental agreement pdf (or, if needed, a sublease agreement template), be sure the agreement complies with the most current landlord-tenant laws.</p>
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		<title>Tackling the Affordable Housing Crisis with Innovative Residential and Urban Design</title>
		<link>https://realestateagentmagazine.com/tackling-the-affordable-housing-crisis-with-innovative-residential-and-urban-design</link>
		
		<dc:creator><![CDATA[IIeana Schinder]]></dc:creator>
		<pubDate>Fri, 03 Dec 2021 22:18:22 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<category><![CDATA[Spotlight]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4411</guid>

					<description><![CDATA[Cities are not static open-air museums; their shape and size evolve with time. Because populations grow, it is relevant to understand how cities can and must adapt to an ever-increasing pressure in housing demand and rising cost of urban living. Healthy cities change to accommodate economic and cultural realities of their inhabitants. Cities, like forests, [&#8230;]]]></description>
										<content:encoded><![CDATA[<p><em><b>Cities are not static open-air museums; their shape and size evolve with time. Because populations grow, it is relevant to understand how cities can and must adapt to an ever-increasing pressure in housing demand and rising cost of urban living. Healthy cities change to accommodate economic and cultural realities of their inhabitants. Cities, like forests, must grow to survive. But how that growth happens makes the difference to which individuals will find a home to thrive. </b></em></p>
<p><span style="font-weight: 400;">There are different formats on how cities grow in size. The typical historic pattern or urban growth followed a concentric circle around denser areas. The city expanded around a central hub of economic activity where the most valuable properties were located. The closer each property was to the core, the higher its value. Large urban areas like New York and Chicago followed this pattern of growth early in their history.</span></p>
<p><span style="font-weight: 400;">Transit infrastructure affected urban growth patterns in the modern era. Through transportation hubs, cities grew in axial patterns following the implementation of train stations and other methods of mass transit. The effective movement of people and goods to and from the city center expanded the radius of what was considered urban areas. Residential and commercial projects developed along those transportation lines which resulted in increased property values on each transit hub.</span></p>
<p><span style="font-weight: 400;">The distribution of neighborhoods and suburbs in Washington, DC is an example of this type of axial urban growth. A network of horsecar trolleys started operating in 1962 with horsecars and were transformed to electric in 1888; the development of middle-class residential neighborhoods followed these lines that extended well into Virginia and Maryland. This above-ground system was finally dismantled in 1960. Bus lines and the subway partially replaced the historic above-ground lines but essentially continue to emphasize urban growth in an axial pattern.</span></p>
<p><span style="font-weight: 400;">Different from concentric or axial, sector growth is the pattern of urban expansion that follows individual developments. It is a combination of the axial pattern along with specific magnet projects. The growth happens outward from the city and concentrates uses by type. American development of zoned maps follows this pattern of growth, by type of use and shape of buildings. University campuses create sector growth by concentrating new uses, like higher education, and attracting students, professors, and staff to a clustered area. Demand of services and housing increases in sectors of the city heavily influenced by long-term and large developments.</span></p>
<p><span style="font-weight: 400;">American cities have followed a combination of growth patterns listed above. However, recently, there has been a reversal on urban growth. Historically cities grew outward buoyed by affordable land and accessible highways. In recent years, distant suburban developments burdened families with long commutes and the social cost of car dependency. The current market demands smaller homes near activity centers that result in new projects in more convenient locations to daily activities.</span></p>
<h2><b>Innovative urban housing and production</b></h2>
<p><span style="font-weight: 400;">Cities do not grow in an abstract manner. Their expansion materializes in the addition of buildings, infrastructure, and increased demand for services. So how does new housing happen?</span></p>
<p><span style="font-weight: 400;">Traditionally, new housing occurred as new buildings in empty land. A private developer would purchase undeveloped land on the outskirts of the city, normally the suburbs, and build single-family homes. Supported by highways, shopping malls, and the suburbanization of services, this type of housing development increased distances and emphasized a car-dependent culture. The units developed maximized size and value while creating homogeneous results of single-family homes. Lack of variety in design and construction is cheaper to design, build, and finance than heterogeneous housing. This development of housing growth excludes affordable units and limits the models of houses available for purchase. Because land near urban centers is becoming scarce, the availability of acreage to continue this type of housing growth is unsustainable from a social and economic perspective.</span></p>
<p><span style="font-weight: 400;">Aside from suburban and exurban growth, urban residential growth also happens with the replacement of existing units. In these areas, developers buy outdated older homes, demolish them, and build a new one from scratch. The tangible consequence of this type of project is the replacement of a smaller, affordable unit with a larger, more expensive one. The cost of buying a home in the same lot increases and the availability of new affordable housing is reduced. Current zoning and financial models encourage the replacement of single-family housing but discourage the conversion into multiple units on the same lot.</span></p>
<p><span style="font-weight: 400;">Aside from replacement of individual homes, new housing units are created through large-scale multistory projects. Due to the impact on established neighborhoods, this type of project requires coordination between city and developers. They tend to be located in high traffic corridors and result in the densification of a small area. Existing neighbors have little to no influence in the remediation measures that a high-impact project will have. The main benefit of large-scale residential projects is the potential to revitalize disinvested areas providing density to retail and services options on the ground floor, like a grocery store or a day care center.</span></p>
<p><span style="font-weight: 400;"> Aside from large-scale projects, another contributor of new housing can be found in the addition of middle-height housing projects. These types of developments, up to four stories, introduce middle density to neighborhoods. The visual and environmental impact of these projects is limited to the existing streetscape and contributes small-scale retail space on the ground floor, like restaurants and cafes.</span></p>
<p><span style="font-weight: 400;">An example of this type of middle-scale project can be seen in Petworth, a neighborhood in north-west Washington, DC. The main roads that traverse the neighborhood are converting existing townhouses while providing infill units. The new projects blend with the neighboring structures and allow for existing housing units to be preserved in the surrounding smaller streets. These types of projects are contributors to the local economy by providing ground floor commercial space to small business owners.</span></p>
<p><span style="font-weight: 400;">Aside from multiunit residential projects, an innovative option to add new housing in the city is the creation of units within existing homes. Located in backyards, basements, and attics, these types of units do not require public participation and have little to no impact on the streetscape. Additional dwelling units contribute one or two extra units per lot by optimizing the use of land in low-density neighborhoods. They illustrate a private solution to the public housing deficit. The aesthetic impact of these types of housing is negligible to the urban environment. They do not provide retail fronts, but the spaces open the possibility for small businesses such as professional services to grow within residential neighborhoods. Detached accessory structures are ideal to use as a dwelling, an office, and small industries like a bicycle repair shop.</span></p>
<p><span style="font-weight: 400;">The creation of new housing types to satisfy the current housing deficit is dependent on the urban impact, the involvement of parties, and the capacity of each entity to contribute a local solution. The typology of units, the availability of services, and the relationship between private and public space is fundamental for the city to provide sustainable housing options in the long term.</span></p>
<h2><b>Housing of the future</b></h2>
<p><span style="font-weight: 400;">New housing typologies follow new family formats and a demanding economic reality. The future of housing must be created within layers of private and public space to create a supportive environment. The future of single-family homes is transforming from less single-family and more collaborative between neighbors. The home of the future is efficient and effective in its use of space and it welcomes residents in all stages of life. It sets the stage for individuals with different physical and cognitive abilities to engage in civic participation.</span></p>
<p><span style="font-weight: 400;">The future of housing is heterogeneous and a promoter of safe and affordable options. It includes more villages and additional dwelling units that foster collaboration and social support. With shared amenities and outdoor features, future units are beneficial for families of different economic and cultural backgrounds.</span></p>
<p><span style="font-weight: 400;">Communal use of outdoor spaces, shared parking, and proximity to transit provide privacy while contributing layers of semi-spaces. The future of housing promotes independent living, self-agency, and is accessible to public services.</span></p>
<p><span style="font-weight: 400;">The pandemic of 2020 reframed housing as shelter and emphasized a flexible approach to use of space – private and public. Home is, and will always be, the most significant space for individuals of belonging and safety. Innovative typologies are the most relevant measure in the future exploration of housing options to compensate for the current dehumanizing deficit.</span></p>
<p><span style="font-weight: 400;">The public realm, and how the private space reconnects to its surroundings, is the organizer of every other social dynamic. From education to access to healthcare, affordable housing results from a contributing relationship between all tangible and intangible factors of the built environment.</span></p>
<p><span style="font-weight: 400;">The future of housing must balance the effects of data that can anticipate social and cultural needs for space. From policy makers to architects, professionals and homeowners that influence the built environment have the capacity to contribute to affordable and sustainable housing.</span></p>
<p><span style="font-weight: 400;">The future of housing is today.</span></p>
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		<title>Cooling or Collapsing? Key Factors To Consider About the Housing Market</title>
		<link>https://realestateagentmagazine.com/cooling-or-collapsing-key-factors-to-consider-about-the-housing-market</link>
		
		<dc:creator><![CDATA[Tim Pagliara]]></dc:creator>
		<pubDate>Thu, 14 Oct 2021 21:33:40 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<category><![CDATA[Spotlight Article]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4380</guid>

					<description><![CDATA[There&#8217;s a recurring question among the pundits and talking heads in the media recently: with mortgage forbearance winding down, housing inventory hitting a 40-year low, and lingering uncertainty over a seemingly never-ending pandemic, is the housing market set to significantly cool down? Only time will tell. But in my opinion, it’s just getting warmed up. While some [&#8230;]]]></description>
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<p>There&#8217;s a recurring question among the pundits and talking heads in the media recently: with mortgage forbearance winding down, housing inventory hitting a 40-year low, and lingering uncertainty over a seemingly never-ending pandemic, is the housing market set to significantly cool down?</p>
<p>Only time will tell. But in my opinion, it’s just getting warmed up.</p>
<p>While some point to China’s Evergrande debacle and our own crisis of 2008 and try to draw comparisons to our current market situation, the facts don’t support any such analogies. In both cases, the problem was massive oversupply. In China, fully 22% of residential property is unoccupied — yet despite this, Evergrande ran up billions of dollars in debt building apartment complexes that now sit empty. As for 2007 and 2008, it was speculation that drove real estate price up, despite a glaring oversupply of houses. (How bad was the problem? It actually prompted then-Fed Reserve Chair Alan Greenspan to say that  the &#8220;low cost option” would be for the federal government to &#8220;buy the homes and burn them.”)</p>
<p>Neither case describes where we are now. In fact, the issue currently facing American homebuyers is a critical shortage of available properties.</p>
<p>A recent report from the National Association of Realtors estimates that the country is facing a supply deficit of 6.8 million housing units, primarily single family homes. This, despite a consistent demand for roughly 1.6 million such homes each year.</p>
<p>There are several reasons for the shortage — one being that construction of affordable new housing slowed significantly over the last 20 years. Another reason is that the college graduates who were forced to their parent’s basements after the bubble of ’07 to ’09 saved their money and bought homes in droves once household formation resumed at a normal rate.</p>
<p>Further complicating the issue is the fact that the pandemic has changed how people feel about housing. Between working from home and seeking a sense of security in a world that seems more unpredictable every day, people have re-prioritized home ownership.</p>
<p>In 1981, trend forecaster and marketing consultant Faith Popcorn coined the term “cocooning” — which, in a case of “what’s old is new again,” perfectly sums up where we are now. Our homes have become a place for work, play, and refuge. Homeowners seek insulation from the outside world and control over their environment. As a result, they’re spending money on making them just right; sales at both home improvement and home furnishing retailers have surged in recent months.</p>
<p>But once again, the issue is supply.</p>
<p>Shortages are everywhere — a situation which could lead to problems. Shortages lead to inflation as too many dollars chase too few goods. Inflation then causes central banks around the world to tighten credit. This shortage of housing finance has forced many credit-worthy borrowers who would otherwise be buying homes into rental situations. We’ve already seen the availability of credit being constricted due to the delays in recapitalizing Fannie Mae and Freddie Mac.</p>
<p>Big real estate investors, asset management firms, and increased interest rates are other factors that drive up home prices and make home ownership less accessible to average Americans during a shortage. “Stagflation” is a term first used in the ‘70s to describe an economy that was experiencing consistently high inflation with consistently low economic output. At the time, the oil crisis was to blame. But since then, it’s become more common to see rising prices during periods of slow or negative growth.</p>
<p>That doesn’t have to be the case this time. But it’s going to take some action on the part of the Biden administration. By finishing the recapitalization of Fannie and Freddie and the release of their conservatorship, the government could generate over $100 billion that could assist communities and first-time homebuyers.</p>
<p>Either way, as the Federal Reserve System tapers later this year economic activity needs to accelerate – particularly the housing market. A strong housing market has a multiplier effect on many things throughout the economy. Everything from paint to appliance sales benefit.</p>
<p>Again, only time will tell.</p>
<p>&nbsp;</p>
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		<title>Using Cryptocurrency to Maximize Real Estate Value</title>
		<link>https://realestateagentmagazine.com/using-cryptocurrency-to-maximize-real-estate-value</link>
		
		<dc:creator><![CDATA[Dr. Neil Pennington]]></dc:creator>
		<pubDate>Wed, 25 Aug 2021 23:39:23 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4332</guid>

					<description><![CDATA[Real estate markets are extremely hot right now as they continue to be impacted by a time of unprecedented change. From climate change to the COVID pandemic to the devaluation of currencies across the globe as governments “print” their way out of economic trouble, all bring new challenges for buyers, sellers, and agents. In these [&#8230;]]]></description>
										<content:encoded><![CDATA[<p>Real estate markets are extremely hot right now as they continue to be impacted by a time of unprecedented change. From climate change to the COVID pandemic to the devaluation of currencies across the globe as governments “print” their way out of economic trouble, all bring new challenges for buyers, sellers, and agents.</p>
<p>In these circumstances, it is tempting to take a pessimistic view of the world. However, technology, in particular blockchain and cryptocurrency, offers a reason for optimism in the search for the total value in assets, including real estate.</p>
<p>Buyers and sellers must think differently about the value to facilitate a sale and ensure fair value and avoid significant discounting and value leakage. Here are some things to consider:</p>
<h2><strong>Using cryptocurrency as the sole alternative to FIAT cash in a real estate deal</strong></h2>
<p>Previously considered a “fringe” option, cryptocurrency is becoming more widely accepted as a new route to value. In Miami, the 9th floor Lower Penthouse at Arte was most recently bought entirely in publicly listed cryptocurrency at a value of $22.5m.</p>
<p>When we consider that the total number of users of cryptocurrencies doubled in the six months from January to June 2021, from 100 million to 200 million (report from Crypto.com), the indication is clear that cryptocurrencies are certainly gaining momentum.</p>
<p>While publicly listed cryptocurrencies are becoming more of an option for real estate, there are still concerns, including the volatility of digital assets such as Bitcoin and Ethereum.</p>
<p>In times of economic uncertainty, the smart investor is the one who realizes that cash is not king; Asset is King. Value can be maintained and enhanced through focusing on hard assets as cash consistently loses value and buying power. Acquiring and holding assets is the route to value. With this in mind, the true game-changer occurs when buyers, sellers, and Realtors realize that cryptocurrency, as a new digital asset class, can be used to route to many different opportunities for maximum value of physical assets.</p>
<h2><strong>Using cryptocurrency as a new way of achieving full value for Real Estate</strong></h2>
<p>With technology, innovation and creativity are never far away, and businesses are emerging that seek to combine the opportunity of cryptocurrency with hard asset value.</p>
<p>With such a “platform business,”  it is possible to connect digital to tangible value, combining a cryptocurrency designed for high-value luxury assets (real estate, fine art, jewelry, precious gems, luxury cars, yachts, to name a few).</p>
<p>This approach does two things, it mitigates the risks associated with economic volatility and enables customized options for real estate owners to secure value.</p>
<p>A great example is an exclusive chalet in the French Alps, “Chalet Brickell.” Clients such as the owner of this chalet see significant value in the utility that a cryptocurrency, focused on high-value luxury assets provides, and thus are willing to accept eight figures in cryptocurrency as part payment, as they are confident that they can use the digital asset to acquire other tangible assets; such business models also allow asset placings with a small cash component and majority cryptocurrency. This represents a value equation for the owner who may need cash to pay a debt and crypto (tokens) to maximize the value through trading for other assets on the platform.</p>
<p>In this new type of business model, buyers, sellers, and Realtors can also convert digital assets, such as Bitcoin or Eth, as part of the non-cash component (avoiding the costly step of converting to cash) as part of a full value deal.</p>
<p>The world of real estate is no stranger to change, and there is a strong track record of innovation across the sector. It’s not surprising that cryptocurrency opportunities are opening, and buyers, sellers, and agents are looking to take advantage.</p>
<p>In times of economic turbulence, the sensible play is to acquire assets rather than cash, and the digital world can help. Using a digital asset to access new routes to tangible value is innovation at its best, and the good news is that partners across the sector can help.</p>
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		<title>Creating a Spa-Like Bathroom at Home</title>
		<link>https://realestateagentmagazine.com/creating-a-spa-like-bathroom-at-home</link>
		
		<dc:creator><![CDATA[Real Estate Agent Magazine]]></dc:creator>
		<pubDate>Mon, 26 Jul 2021 23:12:30 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<category><![CDATA[Spotlight Article]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=4304</guid>

					<description><![CDATA[We tapped into the Dallas-based luxury bathroom specialists and remodelers over at NOMI regarding turning your bathroom into a spa-like environment at home. We want to know &#8230; how exactly can you renovate your bathroom into the perfect oasis? How can that support you on a deeper level? What about materials? Colors? Etc. See below [&#8230;]]]></description>
										<content:encoded><![CDATA[<p><em>We tapped into the Dallas-based luxury bathroom specialists and remodelers over at NOMI regarding turning your bathroom into a spa-like environment at home. We want to know &#8230; how exactly can you renovate your bathroom into the perfect oasis? How can that support you on a deeper level? What about materials? Colors? Etc. See below for some top tips from NOMI Principal Joseph A. Tsedaka.</em></p>
<p><strong>REAM: </strong>What steps can homeowners make in an effort to create a spa-like bathroom at home?</p>
<p><strong>JT: </strong>Double showers are a must! We often recommend double showers with rain heads, hand-held features, and multiple faucets to create a truly relaxing experience. Another option is  adding a body sprayer, which we will customize to their height so it hits perfectly. A mistake people make in their bathrooms includes installing their shower heads too far from each other, a good rule of thumb would be to position them roughly 1 foot away from one another. Another popular addition is adding technology where everything can be controlled from your phone or an iPad on the wall.</p>
<p><strong>REAM: </strong>What materials, colors, and products do you recommend for a calm and luxurious bathroom?</p>
<p><strong>JT: </strong>Personally, I like using dark with colors such as charcoal, because if you include speakers it is often a tonal look, which is very sleek and clean and as a result minimal distractions so you can relax. If you’re looking for something lighter, both marble and stone are beautiful and often we match that same stone in the countertop so it’s uniform.</p>
<p><strong>REAM: </strong>What about the layout of a bathroom? Anything you recommend?</p>
<p><strong>JT:</strong> I would recommend always dividing the vanity so each person has their own space (and storage!) and some privacy. It is also important to consider how each client actually lives, for instance, will you actually take a bath or are you just including for aesthetic reasons so we recommend coming from a place of functionality when considering the layout. It changes how we design, for example I prefer to have a drop down tub for those who use it frequently instead of a free-standing tub where you’d be limited on space. Always consider the room as a whole, if you do have a free-standing tub, however, I always like to put it next to a window or a place where you can add a shelf to add room for shampoo, soap, etc.</p>
<p><strong>REAM: </strong>What about lighting? What to consider when creating a spa-like bathroom?</p>
<p><strong>JT: </strong>We recommend three different types.</p>
<ol>
<li>Normal can lights.</li>
<li>Mood lighting is great, which can be achieved with a dimmer for a spa-like feeling.</li>
<li>Specialty Lighting that we can use inside the shower called &#8220;chromotherapy light.&#8221; LED lighting that can change to any color you want inside the shower. You control it from your digital iPad. If you’re looking for something more exciting, you can use one color for a more relaxed look and feel, or you can use a different color as well.</li>
</ol>
<p><strong>REAM: </strong>Why do you feel like the bathroom is the most important space in the home?</p>
<p><strong>JT: </strong>We believe that a well-designed bathroom can make you a better person, which may seem like a bold statement but it’s not. Our focus is on the details, from design to specific features, which can take a variety of forms from upgrading the shower to include aromatherapy, steam, and speakers. Each client is unique and what they see as a luxury is what we focus on. For someone, that may be spa-like features to unwind after a stressful day, for others that may be speakers so you are able to listen to a podcast in peace before work and the bonus is the heated floor. Our goal is to always have our client to feel that they have exactly what they wanted in a space we created, now in the comfort of their own home, which we’ve all spent plenty of time in over the past twelve months.</p>
<p><strong>REAM: </strong>What are your clients&#8217; typical requests when they hire you?</p>
<p><strong>JT: </strong>Typically, clients come to us for a complete remodel and are often most focused on how we can transform the shower experience. The question we get most often is how can we create a spa-like experience for them at home. We then tailor the design to the space of their dreams which often includes a revised design to allow for sitting and steaming along with added technology to allow for aromatherapy, lighting, sound, and of course, heated floors for when they finally step out.</p>
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		<title>Rethinking the Rectangle: Stand Out From the Crowd with Creative Lawn Signs</title>
		<link>https://realestateagentmagazine.com/rethinking-the-rectangle-stand-out-from-the-crowd-with-creative-lawn-signs</link>
		
		<dc:creator><![CDATA[Andrew Witkin]]></dc:creator>
		<pubDate>Mon, 10 May 2021 16:17:05 +0000</pubDate>
				<category><![CDATA[Real Estate Trend]]></category>
		<category><![CDATA[Spotlight]]></category>
		<guid isPermaLink="false">https://realestateagentmagazine.com/?p=3439</guid>

					<description><![CDATA[There are few industries more competitive than residential real estate. Not only do large real estate companies like RE/MAX and Sotheby’s compete against each other, but individual agents are in a constant battle to “win the deal” and maximize the number of listings they have—and the prices they get for the homes they sell. The [&#8230;]]]></description>
										<content:encoded><![CDATA[<p>There are few industries more competitive than residential real estate. Not only do large real estate companies like RE/MAX and Sotheby’s compete against each other, but individual agents are in a constant battle to “win the deal” and maximize the number of listings they have—and the prices they get for the homes they sell. The best agents are creative in how they market themselves. It’s fair to say that there’s nothing that home sellers haven’t tried in their efforts to stand out from the crowd and get noticed.</p>
<p>Despite all of this creativity, however, there’s one thing that hasn’t changed among agents selling homes — the overwhelming majority of lawn signs all look the same. Drive down any street and you’ll see dozens of rectangles hanging from frames in the front yards, declaring which homes are on the market. And while the colors and images might be different, these all end up indistinguishable from any other yard sign.</p>
<p>It doesn’t have to be this way.</p>
<p>Real estate agents who want to think outside the box should reimagine how they are using signs. There is obviously a lot of variety and creativity in the kinds of signs that sellers use, but 99% of the time the format is still the ubiquitous 24&#215;36 inch rectangle. It’s time to break out from the tyranny of this shape. Because while these may be easy to make and convenient to store, they don’t achieve the primary goal of getting noticed. This is where die-cut signs can play a vital role in helping agents differentiate themselves from their competitors.</p>
<p>This may sound expensive and complicated, but die-cut signs are actually pretty simple. Traditionally, purchasing signs required a minimum order that could be prohibitively expensive. So while having a cool lawn sign might be advantageous, there’s really no benefit for agents if they have to order 20 or 30 at a time. No one wants a garage full of strangely shaped signs! Thanks to advances in digital printing, it is now possible to order individual custom signs rather than bulk batches. That’s a game changer for agents who might only need one or two signs at a time.</p>
<p>The real advantage for agents is that they can customize signs for each property that they are selling. For example, a house that is perfect for a family with small children could feature a sign with a stick figure family, and a sign for a large estate-like house could be cut in the shape of a castle. There are literally no limits, not only on the graphic elements of the sign, but the shape of the sign itself. Even “basic” signs don’t have to be squares or rectangles. Agents can just as easily put up a circle or a triangle, which, while not particularly “out there” in terms of design, will certainly stand out from the crowd of generic signs in a particular neighborhood.</p>
<p>There’s no one single magic bullet that will make real estate agents successful. As we all know, there are hundreds of factors that separate the top producers from the rest of the pack. But one thing that great agents do is always think creatively about how to maximize value for the homes they are selling. Taking a creative approach to signage may give you a key advantage over your competitors and increase the perceived value of your customer’s home.</p>
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