As Flood Risk Threatens Properties, Realtors® Can Play Key Role Keeping Buyers and Sellers Informed

ORLANDO, Fla. (November 6, 2016) – Floods are widespread throughout the nation, with Hurricane Matthew and this summer’s flooding in Louisiana serving as the latest examples.

Homebuyers need to be aware of the threat that flooding poses to their investment, as well as to their safety, and Realtors® can play an important role in helping clients address that risk before disaster strikes.

Melanie M. Graham of H2O Partners told an audience at the 2016 REALTORS® Conference & Expo in Orlando, Florida,… Read More

5 home security lessons learned from the big screen

There were 153,054 burglaries in Texas last year, and according to the U.S. Department of Justice, most of them took place in broad daylight with the perpetrators entering a front or back door. While movies and TV shows might not always have the firmest grounding in reality, security lessons can be learned from the criminals depicted on screen.

Reinforce doors and locks.

The Discovery Channel’s “It Takes a Thief” follows two former burglars as they break into the homes of willing victims. They go through the process of a robbery while simultaneously teaching viewers what they can do to protect their homes from thieves.

One lesson they often stress is to reinforce your doors with metal plates and install extra locks. This extra protection will encourage a potential thief to move on rather than take the extra time needed to break in.

Install high-definition security cameras.

In numerous episodes of the TV series “CSI: Crime Scene Investigation,” the team’s audio-video analyst turns to surveillance footage for leads on the cases. Like this analyst, you’ll get a high resolution image of someone who breaks into your house by installing a security system with 2K or 4K technologies. In addition to crisper images, there might be other improved features such as a better-quality digital zoom, night vision, wide-angle lenses, intelligent compression, and the capability to handle severe weather.

Outsmart the bad guys.

The holiday season is a lucrative time for crooks, who like to target empty homes while owners are on vacation. The movie “Home Alone” teaches several valuable lessons in home security in a fun way:

• Put your interior and exterior lighting on a schedule.
• Leave your TV on. You might just be on an all-day, all-night Netflix binge.
• Strengthen first-floor windows with locks, sensors, and double-pane glass.
• Get a motion detector. (Kevin uses a blowtorch in the movie.)
• Conceal and protect your valuables in a safe.
• Be informed of what’s happening in your area.
• Know your neighbors and rely on them to keep an eye on your home while you’re away.

Don’t leave windows or doors unlocked.

In the movie “Ocean’s Twelve,” Danny Ocean’s accomplices attempt to heist the very first printed stock certificate from a well-protected mansion in Europe. To access the home, they sent a security system decoder on a cable through an open window.

The lesson here is to always shut and lock your windows and doors when not home. Even if you are home, be sure you don’t leave them open in plain view. Burglars can live right in your neighborhood.

Know your security measures.

Everyone in the house should know how to work the security measures you have in place, including the kids. During a scene in the movie “The Lost World: Jurassic Park,” a dinosaur is attempting to get through a door that can only be locked via the park’s computer system. While the parents are holding the door shut, the daughter is able to activate the security system and lock the doors, thus keeping the dinosaur on the opposite side of the door.

Look at your home through the eyes of a burglar, and take notice of areas where security may have been overlooked.

Anne-Marie Pritchett is a freelance writer, storyteller and idea girl who has lived in six states and two countries.

Proposed Changes to Appraiser Qualifications

On October 28, 2016, NAR submitted a comment letter to the Appraiser Qualifications Board (AQB) in response to their second exposure draft concerning proposed changes to the AQB’s Real Property Appraiser Qualification Criteria. NAR agreed with the AQB’s proposed reductions in degree requirements for Licensed and Certified Residential appraisers and asked that prior work experience count toward the degree requirement for Certified General appraisers. While NAR agreed with the AQB’s proposed removal of time limits on obtaining experience hours, NAR is concerned that… Read More

The Difference an Hour Makes This Fall [INFOGRAPHIC]

Every Hour in the US Housing Market: 

• 633 Homes Sell
• 253 Homes Regain Positive Equity
• Median Home Values Go Up $1.43

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The Difference an Hour Makes This Fall [INFOGRAPHIC]

Every Hour in the US Housing Market: 

• 633 Homes Sell
• 253 Homes Regain Positive Equity
• Median Home Values Go Up $1.43

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Members: Sign in now to set up your Personalized Posts & start sharing today! Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts.

Gen Y Real Estate: Think All Millennials Live in Their Parent’s Basement? Think Again!

According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America’s youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million. There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials want to move out. The great news is that not only do millennials want to move out… they are moving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were millennials in 2015! The median age of all first-time buyers in 2015 was 31 years old.  Here is chart showing the breakdown by age: Many social factors have contributed to millennials waiting to buy their first home. The latest Census results show that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015. Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home. As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!

Bottom Line

Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. Are you ready to buy your first or even second home?

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Think All Millennials Live in Their Parent’s Basement? Think Again!

According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America’s youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million. There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials want to move out. The great news is that not only do millennials want to move out… they are moving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were millennials in 2015! The median age of all first-time buyers in 2015 was 31 years old.  Here is chart showing the breakdown by age: Many social factors have contributed to millennials waiting to buy their first home. The latest Census results show that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015. Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home. As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!

Bottom Line

Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. Are you ready to buy your first or even second home?

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2016 REALTORS® Conference and Expo – Federal Issues Update

Going to the 2016 REALTORS® Conference in Orlando? Don’t miss the Federal Issues Update on Friday, Nov. 4 at 7:30am. NAR Government Affairs Senior Vice President, Jerry Giovaniello, and policy staff will provide information, analysis and perspectives on NAR Federal issues.

Download the presentation (PDF: 1.2M)

Federal Issues Update
Friday, Nov. 4
7:30am – 8:30am
Hyatt Regency Orlando
Windermere Ballroom Y / Convention Level

How Long Do Families Stay in a Home?

The National Association of Realtors (NAR) keeps historic data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

Why the dramatic increase?

The reasons for this change are plentiful. The top two reasons are:

1. The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property).
2. The uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

However, with home prices rising dramatically over the last several years, over 90% of homes with a mortgage are now in a positive equity situation with 70% of them having at least 20% equity. And, with the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstances. They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple planning to start a family that currently lives in a one-bedroom condo. These homeowners are ready to make a move. Since the lack of housing inventory is a major challenge in the current housing market, this could be great news.

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Buying a Home? 4 Demands to Make on Your Real Estate Agent

Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge, just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish an average agent from a great one. Here are the top 4 demands to make of your real estate agent when buying a home:

1. Tell the Truth About the Price

When making an offer on the home you want to buy, make sure that your agent walks you through their plan for getting both the seller – and the bank – to accept that price. Too many agents will just take the offer that you suggest and then try to ‘work’ both you and the seller in the negotiating phase later. In a competitive market, you need an agent who is going to help you make the best ‘initial offer’ so that you stand out from the crowd. Every house in today’s market must be sold twice – first to you and then to your bank. The second sale may be more difficult than the first. When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the selling price when performing the appraisal for the bank. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.

2. Understand the Timetable with Which Your Family is Dealing

You will be moving your family into a new home. Whether the move revolves around the start of the new school year or a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick the exact date of your move, but they should exert any influence they can to make it work.

3. Remove as Many of the Challenges as Possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market. Remember: If you have an agent who was weak negotiating with you on parts of the purchase offer, don’t expect them to turn into a superhero when they are negotiating with the seller for you and your family.

4. Find the Right HOUSE!

There is a reason you are putting yourself and your family through the process of moving. You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with buying. Do not allow your agent to forget these motivations. Make sure that they don’t worry about your feelings more than they worry about your family; if they discover something needs to be done in order to attain your goal, insist that they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!

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