Your vulnerability to a cyberattack could land you in court | Love letters to sellers: Why they're not a good idea | Massachusetts property's historic status affects pricing
GET THE 9-POINT VIP BUYERS CHECKLIST: It is more important than ever to show clear value to your buyers. Are you nurturing your buyers correctly? Most agents do a poor job of this. Just waiting on the buyer to call or relying on back and forth email communication is a terrible waste of your leads >> cont'd
Massachusetts property's historic status affects pricing The listing of a New England home built circa 1653 represents a challenge due to preservation restrictions tied to the property. Agent Bob Champey of William Raveis Real Estate says the restrictions have limited the asking price. Full Story: The Wall Street Journal (7/20)
Nature, craftsmanship bring a heritage look to home decor Many concepts of the Arts and Crafts movement, which became popular in the 19th century, remain relevant today when designing around a heritage look. Wallpaper, fabrics and wall art designs that celebrate nature and craftsmanship can be incorporated throughout the home. Full Story: Homes & Gardens (7/21)
Real Estate Trends
Median home price reaches record high, despite slowdown Home prices rose to a record high in June, despite an ongoing decrease in sales. Data from the National Association of REALTORS® shows a median price of $416,000 for the month. Full Story: CNN (7/20)
Inflation, monetary policy hinder home sales Existing-home sales saw their fifth straight month of decreases in June, according to the National Association of REALTORS®. "As monetary tightening and inflation chip away at home buyers' confidence and buying power, home sales numbers have decreased significantly," says Adam Benjamin Shaw of the London School of Economics' Global Economic Governance Commission. Full Story: Newsweek (tiered subscription model) (7/20)
Technology & Innovations
Tech to help your clients in a tight market Ultra-low housing inventory and super-fast home sales mean buyers and sellers must make quicker decisions. So, consumers are turning to you for technology that can help them stay ahead of the curve. Two REALTORS® who focus on technology discuss the innovations that are helping their clients be more competitive in this unprecedented market. Full Story: REALTOR® Magazine/Drive With NAR (3/7)
Fair & Equitable Housing
Value of market-rate housing drives development Brunswick, Maine, has established a committee to find solutions to the town's affordable housing shortage and help address developers' preference for the construction of market-rate housing. Securing financing for affordable housing development is an ongoing challenge. Full Story: The Times Record (Brunswick, Maine) (7/20)
Legislation & Regulation
FHFA plans review of Federal Home Loan Bank System Sandra Thompson, director of the Federal Housing Finance Agency, has told the House Financial Services Committee a reevaluation of the Federal Home Loan Bank System is imminent. The review will "examine everything from the banks' membership base, operational efficiency and effectiveness to more foundational questions about mission, purpose and organization," Thompson says. Full Story: American Banker (7/20)
Fed efforts to tame inflation affecting renters, home buyers Renters are feeling the increasing burden of higher rental costs as a result of the Federal Reserve's three recent interest rate hikes, and the accompanying mortgage rate increases have caused some would-be home buyers to delay their plans. Rental costs in June rose 5.8% compared with a year earlier, and the average price of a new lease is 11% higher than last year, according to data from the Bureau of Labor Statistics. Full Story: Los Angeles Times (tiered subscription model) (7/20)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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