In many markets, there are just not enough homes for sale to meet buyer demand.“More than two-thirds of the markets are seeing less inventory now compared to a year ago,” says Jonathan Smoke, realtor.com®’s chief economist. “Tight credit and limited new construction are clearly at play.”Realtor.com®’s research team scoured the data to find the locales facing the most severe housing crunch. Of the 150 largest markets, realtor.com®
Referrals can be a big source of a real estate agent’s business and can be key to keeping your business flowing year-round.About 40 percent of the real estate agents recently surveyed by the ReferralExchange and the Council of Residential Specialists say they receive about one to five referrals per year. Another 20 percent say they receive six to 10.Inbound referrals tend to result in a closed transaction the most. The highest rate of success i
Top real estate executives at firms from all sizes say agent recruitment and retention are going to be their paramount focus in 2017, according to the latest Imprev Thought Leader survey. The survey reflects the responses of nearly 240 real estate leaders representing brokerages responsible for more than half of all U.S. residential real estate transactions last year.Eighty-five percent of respondents agree that recruiting more agents is their mo
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A home’s interior can be used to spark “memorable moments” that appeal to homebuyers emotions, new research suggests. Certain rooms in a home can make homeowners conjure up positive emotions and memories. Researchers call those areas “hot spots,” and urge designers to pay careful attention to those spots in making a home more inviting.“The interior space can enhance emotional experiences,” says Wayne Visbeen, an architect in Grand R
Mortgage rates edged down for the second consecutive week, a temporary reprieve from what had been weeks of rising rates."After absorbing a mixed December jobs report; the 10-year Treasury yield fell 8 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved in tandem with Treasury yields falling 8 basis points to 4.12 percent, the second decline since the presidential election. The December jobs re
The delay of millennials into homeownership will likely affect their finances for years to come. Real estate wealth has proven to be a major contributor to the financial wealth of previous generations.Indeed, “the most impactful contributor to consumer wealth since the great financial crisis has been growth in home equity,” says Brad Friedlander, managing partner at Angel Oak Capital Advisors. “Similarly, there has been a growing wealth gap
In an era of bloated closing times, some lenders are looking to quicken the pace it takes to get a buyer to the settlement table. Some lenders are retooling operations and aiming to close a loan within 21 days.For example, national retail lender CrossCountry Mortgage Inc. in Brecksville, Ohio, is committing its staff to aim to close a purchase loan from application to funding within 21 days."When you look at contracts, they are typically written
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