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  • Americans Think Homeownership is a Sound Investment

    Media Contact: Jane Dollinger / 202-383-1042 / Email

    WASHINGTON (October 14, 2015) A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home.

    The survey, which measures consumers' attitudes and concerns about housing issues in the nation's 50 largest metropolitan statistical areas, found that more than eight in 10 Americans believe that purchasing a home is a good financial decision, and 68 percent believe that now is a good time to buy a home. Seventy-one percent believe they could sell their house for what they paid for it, a jump of 16 percentage points from 2013.

    When asked for reasons about why homeownership matters to them, respondents answers did not change significantly from past years. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top three reasons to own a home.

    "Homeownership is part of the American Dream, and this survey proves that dream is alive and thriving in our communities," said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. "Realtors believe that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream in a safe, responsible way, which is why NAR advocates homeownership issues and educating potential buyers about achieving their property investment goals."

    The number of renters who are now thinking about purchasing a home has increased since the last survey in 2013, up from 36 percent to 39 percent. Sixty-one percent of renters stated that owning a home is a priority for their future. According to the survey, 80 percent of respondents believe that pre-purchase counseling programs and classes are very or somewhat important. Forty-five percent of homeowners who said they did not take a counseling program, reported they would have taken part in one had it been easily available to them.

    Attitudes about the housing market have improved in recent years. Forty-nine percent of respondents indicated that they feel activity in the housing market has increased in the past year, compared to 44 percent in 2013 and 12 percent in 2011. Eighty-nine percent expect home sales in their area to either increase or remain the same. Concern about foreclosures has also declined, with only 15 percent of respondents indicating that foreclosure is a major concern.

    In addition to improved attitudes about the housing market, survey participants also showed an improved outlook regarding the economy. Only 36 percent think that job layoffs and unemployment are a big problem, a substantial drop from 45 percent in 2013.

    Perceived obstacles to homeownership have remained mostly unchanged compared to recent years; 78 percent of respondents point to college debt and student loans as the main obstacle to making a home purchase affordable. Seventy-six percent of participants said they have a full-time job but still did not make enough money to purchase a home. Seventy-four percent believe they do not have enough money for a down payment and closing costs.

    As the market has improved, concern about the cost of housing has increased. Two-thirds of survey participants said that home prices are more expensive than they were a year ago. There is additional concern over the lack of available housing; 41 percent said the lack of affordable homes is either a very big or fairly big problem in their area, an increase of 9 percent points from 2013.

    For adult millennials under the age of 35, the burden of student debt is their chief concern, with 86 percent of respondents naming college debt as an obstacle to homeownership. Over half reported that their housing costs are a financial strain on their budget, 65 percent are concerned about high rental prices, and 60 percent are concerned about high home prices. However, millennials tend to have a more upbeat and positive view about the future of the nation than older Americans, with 42 percent of millennials saying that the country is headed in the right direction compared to only 20 percent among those aged 50 and older.

    The 2015 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NARs Housing Opportunity Program. The telephone survey polled 1,000 adults nationwide in the 50 most populous metropolitan statistical areas. An additional 250 interviews were conducted with millennial adults (born after 1981) from the same geography. The study has a margin of error of plus or minus 3.1 percentage points.

    The National Association of Realtors, "The Voice for Real Estate," is America's largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.

    Courtesy National Association of Realtors. Click Here for Original Article.

  • Inflatable, portable PhotonGrill cooks your food with nothing but the sun

    The barbecue of the future is here. Meet PhotonGrill, an inflatable 100 percent solar-powered grill that lets you ditch the charcoal for greener cooking. Perfect for camping and areas with fire bans, the lightweight, fire-free and fuel-free PhotonGrill is designed for portability and easily folds down to fit in a backpack. The best part? Its NASA-inspired technology is so efficient the grill reaches 500F in just five minutes.

    Recently launched on Kickstarter, the PhotonGrill is available at a discount for early bird backers and comes with a lightweight carrying case, solar-optimized pan, BBQ tongs, and an air pump. The portable and durable grill weighs only seven pounds and can easily be set up in just three minutes. A pot can also be attached for cooking. An optional add-on module will transform the PhotonGrill into a highly efficient power generator so you can charge your electronics with sun-powered electricity wherever you go.

    Heres how the PhotonGrill works: once fully inflated, the grill, made of lightweight plastic film, takes on the form of a reflective parabolic mirror that concentrates the energy contained in the rays of light into a small area, creating highly-localized energy thats powerful enough to cook with. The design team says the technology was based on experiments carried out by NASA in the 1960s

    By using heat to thermally deform the plastics polymers structure, the plastic is able to remember and transform into the desired parabolic shape when inflated, says the PhotonGrill team, who also claim the grill has 1,000 watts of power. Set atop a stable tripod, the parabolic mirror is made with highly robust polymer foils tested to ensure they can withstand all contingencies, even a large splash of boiling grease. PhotonGrill is looking to raise $111,964 on Kickstarter to bring the solar-powered grill to production.

    Courtesy of California Association of REALTORS. Click Here for Original article.

  • 5 Attorney-Sanctioned Business PracticesProtect yourself and polish your reputation by knowing how to present informationand when refer a client to someone else for assistance.JULY 2016 | BY SAM SILVERSTEINDont position yourself as the primary source of information.

    Your role as a real estate professional is to do what it takes to arrange and close dealsbut that doesnt mean you need to be the authoritative source for answers to every question that might come up. When a buyer asks questions such as how many finished square feet a home has, if its in a flood plain, what the school boundaries are, or when a new light rail line might openin other words, anything you dont know as a fact on your ownbe sure to clearly provide the source of any information you provide in response, says Michael Baucum, a transactional real estate attorney in San Antonio, Texas.

    So instead of just casting what you say as a fact, say, According to, or, The appraisal document says, or something similar, Baucum says. Those few extra words could help protect you if someone is unhappy later on with something you told them.

    Be upfront about whom youre working for.

    Be sure to explain that your duty is to the seller before discussing a property with people who stop by an open house or contact you based on a sign or advertisement, advises Mike Hege, broker-in-charge at Pridemore Properties in Charlotte, N.C. Doing so could help prospective buyers avoid inadvertently breaching an agreement they may have with a buyers agentand it could help prevent you from unwittingly entering a dual agency situation, too. Your best bet is to advise people who express interest in your listings to use their own agent, Hege says.

    Never give tax advice.

    Buyers and sellers might ply you with questions about the tax benefits and implications that relate to a home transaction, but your answer should always be the same: Consult a tax professional, says Jim Downing, a sales associate with Berkshire Hathaway HomeServices Florida Properties Group in Clearwater, Fla. Even basic questions with what seem like obvious answers, such as whether mortgage interest is tax-deductible, could invite trouble, because no two peoples financial situations are identical.

    Dont interpret HOA rules or budgets for clients.

    Your client has just decided to buy a condo and now has to dig through a thick stack of paper relating to the rules and finances of the building they want to move into. Explaining what the documents mean and helping your client decide if theyre acceptable might seem like an obvious way to demonstrate your valuebut this is work best left to an attorney, Downing advises.

    Keep a record of what you say.

    Just as having a log of how many miles you drive and where you go can help you at tax time, maintaining an accurate record of what you discuss with clients can prove very useful if you have to recall what you said in the future. Mindful of the fact that he might need to reconstruct the details of a conversation long after it occurs, John Shipman, director of green operations for Coldwell Banker George Realty in Arcadia, Calif., makes a habit of writing down what he says in meetings, along with the date and time. Ive always been told by attorneys that if I said something but its not written down, it never happened, Shipman says.

    Source:

    realtormag.realtor.orgSeptember 7th, 2016GeneralMarket Information, Business Practices, Business