As escalating mortgage rates and home prices shrink the pool of buyers, help your sellers understand why they'll likely need to readjust their expectations.
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Los Angeles is among major cities finding success by converting distressed office and industrial buildings into residential real estate, a move that is "breathing in new life into these underutilized buildings," says Roberto Vazquez of Omgivning, an adaptive reuse project company. "It not only helped convert the [downtown] area from being run down and dilapidated, it beautified it and gave a sense of purpose and belonging for the residents here," Vazquez says.
Real estate professionals share stories of finding secret rooms during a showing, including one case in Amagansett, N.Y., in which agent Dylan Eckardt found a hidden marijuana cultivation room. Broker Kay Moon recounts the discovery of a large golden Buddha statue locked away inside the closet of a 700-square-foot New York apartment.
Chris Murphy of Homepoint talks about the use of artificial intelligence-driven models and machine learning to help serve brokers amid ongoing market fluctuations. Machine learning, for example, enables the wholesale mortgage lender to optimize loan assignments to associates.
In a Homeownership Month webinar with members of Congress and their staff, the association shares crucial data on the economic impact of high home prices.
On the campaign trail for governor of Massachusetts, state Attorney General Maura Healey voiced her commitment to affordable housing, stating that "every region is deserving of its own particular support and amplification."
Many investors say they plan to keep affordable housing in their portfolio for the long term, citing tax benefits and good returns. "The durability of cash flows—along with impact—is the most compelling case for investing in the asset class," says Warren Horvath, senior vice president for CBRE.
Meta has reached a settlement with the Justice Department, agreeing to change algorithms in Facebook's advertising system that allegedly violate the Fair Housing Act. The government says that housing advertising within Facebook discriminated against users based on factors such as gender, disability status and race.
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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