The rising cost of purchasing a home is finally sinking in for home buyers and changing their house hunt, particularly for millennials.Seventy-nine percent of all consumer age groups recently surveyed say that rising interest rates will impact their home search, while 83 percent say that increasing home prices will impact theirs, according to a new online survey released by realtor.com® of more than 1,000 active buyers. But those percentages r
A homeowner’s personality can have a big influence on their behavior when it comes to home improvement projects, according to a new survey by the Home Projects Council, a group of home improvement experts that aims to help homeowners improve their property values.The Home Projects Council identified the following five home improvement personality types: The Sensible Improver, the Project Planner, the Reliable Renovator, the Visionary, and the
A recent survey found that buyers are spending more on their home purchase than they intended. A third of homeowners recently surveyed say that they blew through the upper limit of their home purchase budget by an average of $16,510, according to a new survey released by Owners.com of 1,214 Americans who purchased a home in the last four years.A big part of the problem is the increasing costs of buying, particularly for starter homes. “Clearly
Many brokerages can get caught up tending to issues largely driven by internal necessities. From attending office meetings to fighting the everyday fires, brokerages need to be generating profitable revenue growth from the outside with as much effort as they expend toward what’s happening inside. Industry leaders need to prioritize and direct more energy to the marketplace and its clients, rather than getting overly bogged down by meetings and
Homeowners are getting richer, thanks to rising home values. The amount of equity that homeowners can tap into is now at the highest level on record, according to Black Knight Financial Services, a mortgage and finance industry solution provider.The amount a borrower can take out of a home—while still leaving 20 percent in it—increased by a collective $735 billion during 2017. That is the largest annual increase by dollar value on record, acc
U.S. bank regulators said on Monday that more commercial real estate deals can proceed without an independent appraisal of the property’s value.The regulators raised the threshold for commercial real estate transactions that require an appraisal from $250,000 to $500,000. Commercial transactions that are valued at more than $500,000 must still have an independent third-party check on the property value before the bank will process a loan; tr
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How active listening creates strong relationshipsTrust is the foundation of any relationship, and when you’re in a relationship-based business like real estate, building trust is essential to your success. When your clients trust you, they’ll refer you to their family and friends. While there are many ways to build trust with a client, one of the best ways is to practice “active listening.” Here’s why:1. You’ll show your clients you r
If you dread wasting another Saturday away from your family in a lackluster open house, it’s only because you’re not capitalizing on the huge opportunities in front of you.It’s up to you to make the most of your open houses. They can be goldmines if you handle them right.I’ve got 13 ways to help you maximize your next open house and turn those “wasted Saturdays” into some of your most powerful marketing opportunities.I also encourage
Community water systems must test and monitor drinking water supplies to ensure safe, clean and good-tasting water. But what happens once water hits neighborhoods and homes?The answer: It varies. Which is why homesellers, especially those in older homes, should test their water to ensure they support clean, healthy water. And their listing agents should support them, because home water quality issues can complicate a sale.The water quality tests
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