The Big Down Payment Myth
Monday, February 27, 2017
Written By: NAR

Having the spare capital to put 20 percent down on a home purchase is great, but it’s certainly not the norm. Still, many people think it is and that belief may be holding some would-be home buyers back, particularly young adults.

Indeed, 39 percent of non-owners say they believe they need more than 20 percent for a down payment on a home purchase. Twenty-six percent believe they need to put down 15 to 20 percent, and 22 percent say they need a down payment of 10 percent to 14 percent to buy, according to the National Association of REALTORS®’ 2017 Aspiring Home Buyers Profile report.

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7 Signs Your Marketing Is Suffering
Friday, February 17, 2017
Written By: NAR

Could your marketing be outdated, ineffective, or even harmful? Forbes.com columnist John Rampton recently highlighted several signs your strategy might need an update in 2017:

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REALTOR® Magazine Reports on 2016 Marketing Trends for Real Estate Agents
Wednesday, February 15, 2017
Written By: NAR

According to an October article published in RealtorMag.com, being on the forefront of technology trends helps gain an edge in the marketplace. The article, titled “4 Digital Marketing Trends to Watch in 2016”, references a Forbs.com report where SEO and online expert, Jayson DeMers, pinpoints evolving digital marketing trends that will really begin to have an impact this year.

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5 Home Design Needs for Your Boomer Clients
Thursday, January 19, 2017
Written By: NAR

The number of home buyers ages 55 and older is expected to grow over the next decade, and builders across the country are ramping up to serve them. At the International Builders’ Show in Orlando, Fla., this week, the National Association of Home Builders is educating attendees about how to support the industry’s efforts to cater to this segment of the market.

In one session, Deryl Patterson, president of Housing Design Matters in Jacksonville, Fla., offered ideas of how to design, remodel, and market spaces so that they’ll be more appealing to older home buyers. She says one important element is to avoid treating baby boomer clients as if they’ve suddenly developed a whole new set of living preferences. Patterson told attendees it makes more sense to think of boomers as “mature” in the sense that they are experienced buyers who know what they want. She described their mindset about their home purchase as: “I’m going to do it right this time, finally.”

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The Promise of 3-D Printed Property
Wednesday, January 18, 2017
Written By: NAR

Technological advances in construction will represent a huge shift for the building and real estate industries in the next decade. Are you ready?

Imagine if all shoes were still made by hand. While you might yearn for the return of the artisan craft of cobblery, Behrokh Khoshnevis pours cold water on such a fanciful scenario. Before automation, he says, the high cost and high demand for decent footwear meant most people were stuck buying one pair of ill-fitting, sloppily sewn shoes a year.

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The Next Big Thing in Smart-Home Tech
Friday, January 06, 2017
Written By: NAR

Talk to your home, and it may now hear you. Voice control is the next game changer with smart-home tech. In fact, it may be just the piece that fuels higher adoption of smart-home gadgets.

“By simply saying aloud what they want to happen with their locks, lights, thermostats, and security system, consumers spend more time living and less time managing,” says Jeff Lyman, chief marketing office for Vivint Smart Home, which integrates with Amazon’s Echo. “The experience is pretty magical.”

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Top 3 Mistakes Agents Make on the Phone
Tuesday, December 20, 2016
Written By: NAR

Why are so many digital marketing companies saying that prospecting over the phone is dead, while they try to sell you over a cold call?

I don’t care that my mom likes to ignore my calls, prospecting on the phone isn’t dead. It can be an effective sales channel when used right. The problem is that most agents are still prospecting on the phone like it’s the 1950s. They use scripts that my grandpa used.

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Your Special Treat: An Inside Look at Buyers, Sellers
Monday, October 31, 2016
Written By: NAR

Two key segments of buyers who have been notably absent in recent years in the housing market are returning in force: First-time home buyers and single women.

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FHA Holding Back Owner-Occupancy Limit
Wednesday, September 28, 2016
Written By: NAR

Yesterday, HUD released its proposed rules on H.R. 3700, or the “Housing Opportunity Through Modernization Act.” But the rules punt, at least temporarily, on a provision in the law that lowers the allowable owner-occupancy ratio for FHA-approved projects to 35 percent from the current 50 percent. NAR warns this action will make for a missed chance to improve the availability of FHA condo financing by deferring its decision to implement new limits enacted into law this summer.

NAR President Tom Salomone, in a statement he released yesterday, says lawmakers made their intentions clear with the 35-percent maximum limit included in the legislation. “HUD has the authority right now to set the owner-occupancy requirement at 35 percent while the regulatory process moves forward, “ Salomone said. “We would urge them to consider that option rather than defer the decision for an indeterminate amount of time.”

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Repeat Home Buyers Are Vanishing
Wednesday, September 28, 2016
Written By: NAR

Is all the buzz about assisting first-time home buyers misguided? A report released by the Urban Institute this week indicates that the new segment that the real estate industry might need to worry about is repeat buyers, because they have yet to rejoin the market at pre-housing crisis levels. In 2001, there were about 1.8 million repeat buyers. Last year, their share dropped to 900,000, according to the report.

The foreclosure crisis decreased this group’s numbers significantly, as free-falling home prices beginning around 2007 took a large bite out of household wealth and impaired the credit-worthiness. Foreclosed home owners were left out of the mortgage market for many years, ruling many out as repeat buyers.

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