A shift in consumer shopping patterns toward online marketplaces continues to hit the retail sector and its real estate market hard. The vacancy rate for large U.S. shopping malls rose to 8.4 percent in the first quarter of 2018, the highest since the fourth quarter of 2012, according to new study from real estate data firm Reis Inc. For neighborhood and community shopping centers, Reis found that 41 of the 77 areas they examined saw vacancy incr
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
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
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
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
The typical spring home buyer this year is on the hunt for a three-bedroom, two-bathroom house with a garage and updated kitchen, according to a new realtor.com® survey of more than 1,000 home shoppers. Forty-four percent of respondents say they want a three-bedroom home, and 93 percent say they want a home with at least two bathrooms. But the garage is becoming increasingly important to home shoppers, too, with 27 percent rating it as one of th
Faced with labor shortages in the appraisal field, the Appraisal Foundation’s Appraiser Qualifications Board is easing the requirements to become an appraiser, including reducing the number of hours of college coursework and job training needed. The board, which establishes the minimum qualifications for appraisers in the U.S., has been reviewing its process for the past two years.The appraisal industry has been struggling to attract new worker
Inventory shortages are helping home prices continue to break record highs, according to an analysis by realtor.com®. “Never in history have there been more eyes on fewer homes than today,” says Javier Vivas, director of economic research at realtor.com®. “The price gains observed in the last days of March tell us the market is on pace to see half of the homes listed above $300,000 this summer. This means buyers are not just having to
Renters may see some relief in their pocketbooks, as hikes in rental costs slowed in the first quarter of this year, according to RealPage, a real estate technology and analytics firm. The average rent for new leases increased 2.3 percent to $1,310, marking a decrease from a 2.6 percent hike in the fourth quarter of 2017. Further, it’s the smallest yearly gain since the third quarter of 2010.Since reaching a peak in 2015, at 5.3 percent, rental
Sellers may be shooting themselves in the foot when they leave an empty, dark, or cluttered room unstaged, according to a recent realtor.com® article. Empty rooms, for example, can “kill a home sale, especially if the other rooms are furnished,” says Allison Bethell of FitSmallBusiness.com. Imperfections stand out more in an empty room, and the absence of furnishings could make it more difficult for buyers to visualize how to use the space.A
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
