How this remodel netted 350% ROI at sale | More clients seek out multi-generational home design | Older clients represent major opportunity for all industries
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How this remodel netted 350% ROI at sale Presale renovation companies are working with real estate professionals to improve a home's looks in pursuit of turnkey properties that garner top dollar at resale. Full Story: REALTOR® Magazine (8/8)
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More clients seek out multi-generational home design Demand for multi-generational homes is rising and the trend is informing how clients are planning and designing homes. "Commonly defined as a household where grandchildren, parents and grandparents all live under one roof, this family choice is commonplace across Asia and becoming more prevalent in the U.S. and U.K., where the rise of boomerang children is becoming more common," says Allan Corfield of AC Architects. Full Story: Homebuilding & Renovating (8/5)
Older clients represent major opportunity for all industries In the coming years, the demographic of people over the age of 65 will outnumber those under 18, a trend that means all industries must consider older people as clients and employees. "Those who only have a 'one-size-fits-all' approach or only target the 18- to 34-year-old demographic will lose business," says Susan Golden, author of "Stage (Not Age): How to Understand and Serve People Over 60." Full Story: Kiplinger (8/8)
Housing market sentiment drops among buyers, sellers The Home Purchase Sentiment Index in July shows that pessimism over the housing market has increased among buyers and sellers, with many believing home prices will fall. About 17% of respondents to Fannie Mae's monthly survey say now is a good time for a home purchase, compared with 20% in June. Full Story: CNBC (8/8)
Technology & Innovations
ApartmentData.com bought by MRI Software ApartmentData.com, a startup that sells market research and data to operators of multifamily properties, has been acquired by MRI Software, a real estate software developer. The deal broadens the range of products offered by MRI and bolsters its market position in the southern U.S. Full Story: FinSMEs (8/8)
Affordable housing shortage exists nationwide All regions of the country face a shortage of affordable housing, writes Sourav Goswami of Buckingham Cos., who advocates for the development of single- and multifamily projects. A "new ecosystem of competition" from various investors has made it more difficult for first-time buyers. Full Story: Forbes (tiered subscription model) (8/8)
Gap widening between homeowners, renters The divide in the financial fates of homeowners and renters is diverging, experts say, with increasing rents posing a challenge for low-income families as those who own homes see real estate values appreciate. "We're going to see this gap getting wider between people who are homeowners and people who are probably never going to be homeowners," says Nicole Bachaud, an economist with Zillow. Full Story: The New York Times (8/8)
Legislation & Regulation
Job reports might prompt Fed to persist with large rate hikes Friday's unexpectedly strong reports on employment and wage growth could influence the Federal Reserve's decision-making on interest rates and encourage policymakers to maintain a robust pace of increases. Charles Evans, president of the Federal Reserve Bank of Chicago, said last week that he would support a 50-basis-point hike at the upcoming meeting if data shows that the economy is cooling. However, a 75-basis-point hike is still in play if that does not happen, Evans said. Full Story: The Wall Street Journal (8/5),Financial Times (subscription required) (8/5),Reuters (8/5),Bloomberg (8/5)
Banks largely unaffected by rise in subprime defaults Firms that offer credit to borrowers with below-prime scores are reporting an uptick in defaults over the past months. However, banks with higher-category borrowers reported no such trend in their latest earnings reports, and Michael Taiano, senior director at Fitch Ratings, says the situation for banks is not at "the red-flag stage," but a divergence is emerging in credit quality between the categories. Full Story: American Banker (8/7)
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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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