Managing sellers' expectations important as market slows

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Selling a second home—at least a part of it | Location, size keep deals flowing in Washington | Managing sellers' expectations important as market slows

Created for newsletter@newslettercollector.com | Web Version

July 29, 2022

Top News

Selling a second home—at least a part of it With new apps, real estate pros are offering clients a way to buy vacation homes at a fraction of the cost. Full Story: REALTOR® Magazine (7/28)

	WEBINAR: Guide Your Clients With Market Trends As the real estate market shifts, your prospects may have uncertainty about what those changes mean. In a listing presentation, you'll hear the question, "How's the market?" Give expert advice with RPR's new housing market charts and graphs. RSVP TODAY!

Best Practices in Sales & Marketing

Location, size keep deals flowing in Washington Median sales prices in Clark County, Wash., were up 16.9% in June from a year ago as agents tout location, lot size and other factors to keep listings moving. "The downtown location, square footage for price point and large bedroom sizes are all amazing and hard to find," said Brandy Pettet of Cascade Hasson Sotheby's International Realty. Full Story: The Columbian (Vancouver, Wash.) (tiered subscription model) (7/29)

Managing sellers' expectations important as market slows Agents are helping clients manage expectations amid ongoing market changes that mean some houses are staying on the market longer, giving buyers more options. Leslie Sargent Eskildsen, a board member with the California Association of REALTORS® advises putting "some lipstick" on offers that may disappoint sellers. Full Story: The Orange County Register (Anaheim, Calif.) (tiered subscription model) (7/28)

Real Estate Trends

Dip in mortgage rates little consolation to squeezed buyers Record-high home prices, declining consumer confidence and fears of recession are taking their toll on aspiring homeowners. Full Story: REALTOR® Magazine (7/28)

Stable demand profile helps recession-proof some markets Housing markets with lower participation by investors are likely to retain values in a recession, says Dennis McGill of Zelman & Associates. "I would argue that the areas that will weather a recession better are the ones that have a more stable demand profile, one that's driven more by primary demand and not second home or investor demand over time, and one that doesn't have a lot of supply coming to market," McGill said. Full Story: Newsweek (tiered subscription model) (7/28)

Technology & Innovations

Online tool to track potential costs of wildfires, floods Researchers at universities in Arizona, South Carolina, Louisiana and Florida are developing an online tool that provides details on hazard costs over time related to specific residential areas. The goal is to inform buyers and motivate owners to take protective action. Full Story: The Conversation (7/28)

News from NAR

#FeelGoodFriday: REALTOR® gives wayward girls fighting chance for brighter future Kama Burton provides a safe space for troubled youth in California to express themselves, build camaraderie and chart a more positive path forward in life. Full Story: REALTOR® Magazine (7/28)

NAR food recovery program sustains others Sustainability isn't just about ensuring the future. Reducing waste can serve the needs of others in the here and now. A case in point: the REALTOR® organization's partnership with the Food Recovery Network. Full Story: REALTOR® Magazine (7/28)

Fair & Equitable Housing

Rents moving out of reach for many New England workers Minimum wage is nowhere near sufficient to pay for a two-bedroom apartment in New England, according to a report by the National Low Income Housing Coalition. In Rhode Island, a person must earn at least $24.32 per hour to afford the average two-bedroom apartment. Full Story: The Boston Globe (tiered subscription model) (7/28)

Legislation & Regulation

Carried interest tax break may be coming to an end Sen. Joe Manchin, D-W.Va., and Senate Majority Leader Chuck Schumer, D-N.Y., have reached a deal on ending the carried interest tax provision used by some in real estate. The proposed tax change would come as part of a broader compromise on the Biden administration's tax, energy and climate legislation. Full Story: The Real Deal (7/28)

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About The National Association of REALTORS®

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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