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1226
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    [agents_bottom_line] => Millennials: Millennials: How Many are Actually ‘Living with their Parents’ | Keeping Current Matters

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimation of their actual home purchases, evidence is beginning to debunk the myths many have held about this generation and homeownership. Now, one more strongly held belief is being questioned.

Do Millennials Live in their Parents Basements?

It seems not as many as once was reported. Our friends at Calculated Risk (CR) alerted us to a post by Derek Thompson in the Atlantic: The Misguided Freakout About Basement-Dwelling Millennials. The article explains that according to the Census Reports:

“It is important to note that the Current Population Survey counts students living in dormitories as living in their parents' home.”

What?!? If you live in a college dorm, the census counts you as living with your parents. Thompson has some fun with this when he explains:

“When you were adjusting to your freshman roommate, you were ‘living with your parents’. When you snagged that sweet triple with your best friends in grad housing, you were ‘living with your parents’. That one time you launched butt-rattling bottle rockets at the stroke of midnight off your fraternity roof? I hope you didn't make too much noise. After all, you were ‘living with your parents’."


The data is “Criminally Misleading”

According to Thompson, the counting of those living in college dorms as living with their parents is “criminally misleading”. He explains that part of the increase in these numbers is actually attributed to the fact that more people are attending college:

“[T]he share of 25- to 29-year-olds with a bachelor degree has grown by almost 50 percent since the early 1980s. More than 84 percent of today's 27-year-olds spend at least some time in college and now 40 percent have a bachelor's or associate's degree. More young people going to school means more young people living in dorms, which means more young people ‘living with their parents’, according to the weird Census.” 

Thompson then goes on to reveal that:

"[T]he share of 18-to-24-year-olds living at home who aren't in college has declined since 1986. But the share of college students living "at home" (i.e.: in dorms, often) has increased. 

So the Millennials-living-in-our-parents meme is almost entirely a result of higher college attendance.” (emphasis added)


The Other Side of the Argument

However, Trulia’s chief economist Jed Kolko, doesn’t totally agree. In a post in response to the Thompson article, Kolko explains:

“The Current Population Survey’s (CPS) Annual Social and Economic Supplement (ASEC) counts college students who are living in dorms as living with their parents, and college enrollment has indeed gone up. But it does not follow that basement-dwelling millennials are a myth. The ASEC and other Census data show that after adjusting for college enrollment and for dormitory living, millennials were more likely to live with parents in 2012 and 2013 than at any other time for which a consistent data series is available.”


Bottom Line

There are more Millennials living with their parents than ever before. However, the numbers being quoted by some seem to be exaggerated.
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    [contents] => Millennials: Millennials: How Many are Actually ‘Living with their Parents’ | Keeping Current Matters

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimation of their actual home purchases, evidence is beginning to debunk the myths many have held about this generation and homeownership. Now, one more strongly held belief is being questioned.

Do Millennials Live in their Parents Basements?

It seems not as many as once was reported. Our friends at Calculated Risk (CR) alerted us to a post by Derek Thompson in the Atlantic: The Misguided Freakout About Basement-Dwelling Millennials. The article explains that according to the Census Reports:

“It is important to note that the Current Population Survey counts students living in dormitories as living in their parents' home.”

What?!? If you live in a college dorm, the census counts you as living with your parents. Thompson has some fun with this when he explains:

“When you were adjusting to your freshman roommate, you were ‘living with your parents’. When you snagged that sweet triple with your best friends in grad housing, you were ‘living with your parents’. That one time you launched butt-rattling bottle rockets at the stroke of midnight off your fraternity roof? I hope you didn't make too much noise. After all, you were ‘living with your parents’."


The data is “Criminally Misleading”

According to Thompson, the counting of those living in college dorms as living with their parents is “criminally misleading”. He explains that part of the increase in these numbers is actually attributed to the fact that more people are attending college:

“[T]he share of 25- to 29-year-olds with a bachelor degree has grown by almost 50 percent since the early 1980s. More than 84 percent of today's 27-year-olds spend at least some time in college and now 40 percent have a bachelor's or associate's degree. More young people going to school means more young people living in dorms, which means more young people ‘living with their parents’, according to the weird Census.” 

Thompson then goes on to reveal that:

"[T]he share of 18-to-24-year-olds living at home who aren't in college has declined since 1986. But the share of college students living "at home" (i.e.: in dorms, often) has increased. 

So the Millennials-living-in-our-parents meme is almost entirely a result of higher college attendance.” (emphasis added)


The Other Side of the Argument

However, Trulia’s chief economist Jed Kolko, doesn’t totally agree. In a post in response to the Thompson article, Kolko explains:

“The Current Population Survey’s (CPS) Annual Social and Economic Supplement (ASEC) counts college students who are living in dorms as living with their parents, and college enrollment has indeed gone up. But it does not follow that basement-dwelling millennials are a myth. The ASEC and other Census data show that after adjusting for college enrollment and for dormitory living, millennials were more likely to live with parents in 2012 and 2013 than at any other time for which a consistent data series is available.”


Bottom Line

There are more Millennials living with their parents than ever before. However, the numbers being quoted by some seem to be exaggerated.
    [created_at] => 2014-07-17T06:00:51Z
    [description] => 

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimati...
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    [featured_image] => https:///
    [id] => 87
    [published_at] => 2014-07-17T10:00:51Z
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    [title] => Millennials: How Many are Actually ‘Living with their Parents’ 
    [updated_at] => 2014-07-21T18:31:34Z
    [url] => /es/2014/07/17/millennials-how-many-are-actually-living-with-their-parents/
)

Millennials: How Many are Actually ‘Living with their Parents’

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimati...
1226
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    [agents_bottom_line] => 
How Much of a Down Payment do You Actually Need? | Keeping Current Matters


A recent survey by Zelman & Associates revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. A recent questionnaire administered by Freddie Mac showed that over 50% of all respondents thought 20% was required as a down payment.


In actuality, a purchaser may be able to put down far less.


Freddie Mac, in a recent blog post addressing the issue, confirmed that there is misinformation regarding the amount necessary when determining the down payment for a home purchase:


“Did you know 40 percent of today's homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold.  So, not only are low down payment options real, they represent a significant portion of today's purchases.”


In a separate Executive Perspectives, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:


    

  • A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
    • 

  • Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.
    • 



Ms. Boyle goes on to explain:


“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.”


Bottom Line


If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.


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                    [created_at] => 2019-06-03T18:18:43Z
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    [contents] => 
How Much of a Down Payment do You Actually Need? | Keeping Current Matters


A recent survey by Zelman & Associates revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. A recent questionnaire administered by Freddie Mac showed that over 50% of all respondents thought 20% was required as a down payment.


In actuality, a purchaser may be able to put down far less.


Freddie Mac, in a recent blog post addressing the issue, confirmed that there is misinformation regarding the amount necessary when determining the down payment for a home purchase:


“Did you know 40 percent of today's homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold.  So, not only are low down payment options real, they represent a significant portion of today's purchases.”


In a separate Executive Perspectives, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:


    

  • A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
    • 

  • Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.
    • 



Ms. Boyle goes on to explain:


“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.”


Bottom Line


If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.


    [created_at] => 2014-07-16T06:00:02Z
    [description] => 
A recent survey by Zelman & Associates revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. A recent...
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    [title] => How Much of a Down Payment Do You Actually Need?
    [updated_at] => 2014-10-30T17:36:11Z
    [url] => /es/2014/07/16/how-much-of-a-down-payment-do-you-actually-need/
)

How Much of a Down Payment Do You Actually Need?

A recent survey by Zelman & Associates revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. A recent...
1226
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    [agents_bottom_line] => Home Mortgage Rates: Where are They Headed? 

Many readers have asked where interest rates are headed over the next several months. While no one has a crystal ball, we did want to share what some experts are saying on the subject.

HSH.com

“For now, and likely through the summer, we may see data-driven bumps and dips in rates. Although we managed a slight dip presently, a bump is in order before long.”

Freddie Mac

“In the next few months, mortgage rates are likely to remain at their current, low level, but will not remain there for long. As the Federal Reserve is expected to ‘taper’ its purchases of long-term Treasuries and mortgage-backed securities, and as economic growth picks up, long-term yields will gradually rise. Fixed-rate mortgages are expected to be higher in six months, and may even approach 5 percent a year from now.”

National Association of Realtors

“Mortgage rates could move suddenly higher in anticipation of rate increases, much as they did last summer when refinance and transaction activity was high. Steady purchase transaction volume and lower refinance volume could mean that mortgages rates may adjust in a more gradual fashion. In either case, as the economy improves—and today’s data clearly suggests it is improving—the overall trend for mortgage rates is up, not down.” 

Fannie Mae

Projects the 30 year fixed mortgage rate to be 4.3% by the end of the year.

Mortgage Bankers Association

Projects the 30 year fixed mortgage rate to be 4.7% by the end of the year.
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    [content_type] => blog
    [contents] => Home Mortgage Rates: Where are They Headed? 

Many readers have asked where interest rates are headed over the next several months. While no one has a crystal ball, we did want to share what some experts are saying on the subject.

HSH.com

“For now, and likely through the summer, we may see data-driven bumps and dips in rates. Although we managed a slight dip presently, a bump is in order before long.”

Freddie Mac

“In the next few months, mortgage rates are likely to remain at their current, low level, but will not remain there for long. As the Federal Reserve is expected to ‘taper’ its purchases of long-term Treasuries and mortgage-backed securities, and as economic growth picks up, long-term yields will gradually rise. Fixed-rate mortgages are expected to be higher in six months, and may even approach 5 percent a year from now.”

National Association of Realtors

“Mortgage rates could move suddenly higher in anticipation of rate increases, much as they did last summer when refinance and transaction activity was high. Steady purchase transaction volume and lower refinance volume could mean that mortgages rates may adjust in a more gradual fashion. In either case, as the economy improves—and today’s data clearly suggests it is improving—the overall trend for mortgage rates is up, not down.” 

Fannie Mae

Projects the 30 year fixed mortgage rate to be 4.3% by the end of the year.

Mortgage Bankers Association

Projects the 30 year fixed mortgage rate to be 4.7% by the end of the year.
    [created_at] => 2014-07-15T06:00:55Z
    [description] => 

Many readers have asked where interest rates are headed over the next several months. While no one has a crystal ball, we did want to share what some experts are saying on the subject.
HSH.com
“For now, and likely through the summer, we may see...
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    [published_at] => 2014-07-15T10:00:55Z
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    [title] => Home Mortgage Rates: Where are They Headed?
    [updated_at] => 2014-07-21T18:33:14Z
    [url] => /es/2014/07/15/home-mortgage-rates-where-are-they-headed/
)

Home Mortgage Rates: Where are They Headed?

Many readers have asked where interest rates are headed over the next several months. While no one has a crystal ball, we did want to share what some experts are saying on the subject. HSH.com “For now, and likely through the summer, we may see...
1226
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    [agents_bottom_line] => (English) 13,397 Houses Sold Yesterday! | Keeping Current Matters

If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that the threat of rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes to purchasing real estate. That is actually far from reality. After all 13,397 houses sold yesterday, 13,397 will sell today and 13,397 will sell tomorrow.

13,397!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, annualized sales now stand at 4.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 13,000 homes sell every day. If you are considering whether or not to put your house up for sale, don't let the headlines scare you. There are purchasers in the market and they are buying - to the tune of 13,397 homes a day.
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    [contents] => (English) 13,397 Houses Sold Yesterday! | Keeping Current Matters

If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that the threat of rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes to purchasing real estate. That is actually far from reality. After all 13,397 houses sold yesterday, 13,397 will sell today and 13,397 will sell tomorrow.

13,397!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, annualized sales now stand at 4.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 13,000 homes sell every day. If you are considering whether or not to put your house up for sale, don't let the headlines scare you. There are purchasers in the market and they are buying - to the tune of 13,397 homes a day.
    [created_at] => 2014-07-14T06:00:25Z
    [description] => (English) 

If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that the threat of rising mortgage rates and a lack of consumer confidence are keeping Americans ...
    [expired_at] => 
    [featured_image] => https:///
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    [title] => (English) 13,397 Houses Sold Yesterday!
    [updated_at] => 2014-07-14T12:58:51Z
    [url] => /es/2014/07/14/13397-houses-sold-yesterday/
)

(English) 13,397 Houses Sold Yesterday!

(English) If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that the threat of rising mortgage rates and a lack of consumer confidence are keeping Americans ...
1226
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    [agents_bottom_line] => (English) When Character is More Valuable than Competence | Keeping Current Matters

Today we are pleased to have Nikki Buckelew back as our guest blogger. Nikki is considered a leading authority on seniors real estate and housing. Enjoy!

It was her 80th birthday and as Sue's family gathered around in celebration, she announced a major decision. After years of toying with the idea, she had come to the conclusion that now - yes, now - was the proper time for her to move into a continuing care retirement community (CCRC).

Although they were a bit surprised, Sue's two adult children (both seniors themselves) nodded to each other and expressed relief that their mother would have access to the support and care she needed. Both admitted to a bit of worry about her living alone since their dad died, especially as they both traveled extensively and were not available to see her or care for her on a regular basis.

But, of course, they all realized that such a move would require a massive commitment of time and energy, with the first necessary step being to find a good real estate agent to help sell the longtime family home.

Sue mentioned that she was acquainted with an agent she had met at church and who regularly sent her mailings. The agent seemed quite nice and professional, had won numerous awards, was active in the community, and owned a variety of impressive-looking credentials. You know, she had a whole bunch of letters and acronyms at the end of her name.

Sue and her children arranged for a meeting with the agent, and while she was clearly competent and well-educated in her field, Sue just couldn't get past a nagging feeling that something was amiss. The agent was nice enough, but throughout Sue's entire life, she had tended to gravitate toward doing business only with those to whom she felt some sort of connection. Perhaps it was something she had learned from her father, a man who valued relationships in business dealings as much or more than mere competence. Not only did she want help, but she also wanted to feel a special sort of bond and trust.

The practice had served her well throughout life and now - with such an important transaction - she wasn't about to change her approach.

Sue scanned the yellow pages, spoke on the phone with a few agents, and even met with another over coffee, but still she couldn't find the sensation of trust and comfort she desired. She even did a couple of quick internet searches leaving her feeling confused and frustrated. It occurred to Sue's daughter that perhaps the CCRC that was to be Sue's new home would be able to provide a recommendation for a good agent. Indeed, they did, and that's when she met Joe.

Joe was different

He arrived at her home and immediately the two hit it off. Sue hired Joe to list and sell her house and as he began to take his leave, Sue touched him gently on the arm and said "Thank you, Joe. You are different than other agents I've met with," she smiled. "I don't know exactly what it is, but I feel I can truly trust you to help me make this move."

Sue's home sold quickly, and with Joe's help, she arranged for an estate liquidator to sell the belongings she no longer needed. He also arranged for a moving company to pack and transport what was needed to Sue's new apartment at the retirement community, and made sure she was content in her new home.

A few days later, Sue's children visited their mother, breathed a sigh of relief that everything seemed under control, that a large project was complete and that - most importantly - Mom was happy, healthy,  and safe. Her daughter (who admittedly had been a bit annoyed at Sue's "pickiness" in choosing an agent) smiled and remarked that Sue had made a fine decision in choosing Joe to spearhead the sale and move. "But Mom," Sue's son asked. "How did you make your decision? Why did you choose him?"

Sue dug into her purse and drew out the list of notes she had made while interviewing Joe:

When Character is More Valuable than Competence | Keeping Current Matters

As her daughters looked at the list, Sue remarked "I felt 'OK' with the other agents. They were undoubtedly good at their jobs. But I wanted someone who was good for ME too."

And thus ends the happy story of Sue, a senior whose outlook on doing business mirrors that of most of her generation, nearly all of whom value a firm handshake and "good vibes" as much as they do hard numbers and competency.

Bottom Line

As real estate professionals serving seniors, it's important that we understand that what makes for a great partnership, truly is in the eyes of our clients.
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    [content_type] => blog
    [contents] => (English) When Character is More Valuable than Competence | Keeping Current Matters

Today we are pleased to have Nikki Buckelew back as our guest blogger. Nikki is considered a leading authority on seniors real estate and housing. Enjoy!

It was her 80th birthday and as Sue's family gathered around in celebration, she announced a major decision. After years of toying with the idea, she had come to the conclusion that now - yes, now - was the proper time for her to move into a continuing care retirement community (CCRC).

Although they were a bit surprised, Sue's two adult children (both seniors themselves) nodded to each other and expressed relief that their mother would have access to the support and care she needed. Both admitted to a bit of worry about her living alone since their dad died, especially as they both traveled extensively and were not available to see her or care for her on a regular basis.

But, of course, they all realized that such a move would require a massive commitment of time and energy, with the first necessary step being to find a good real estate agent to help sell the longtime family home.

Sue mentioned that she was acquainted with an agent she had met at church and who regularly sent her mailings. The agent seemed quite nice and professional, had won numerous awards, was active in the community, and owned a variety of impressive-looking credentials. You know, she had a whole bunch of letters and acronyms at the end of her name.

Sue and her children arranged for a meeting with the agent, and while she was clearly competent and well-educated in her field, Sue just couldn't get past a nagging feeling that something was amiss. The agent was nice enough, but throughout Sue's entire life, she had tended to gravitate toward doing business only with those to whom she felt some sort of connection. Perhaps it was something she had learned from her father, a man who valued relationships in business dealings as much or more than mere competence. Not only did she want help, but she also wanted to feel a special sort of bond and trust.

The practice had served her well throughout life and now - with such an important transaction - she wasn't about to change her approach.

Sue scanned the yellow pages, spoke on the phone with a few agents, and even met with another over coffee, but still she couldn't find the sensation of trust and comfort she desired. She even did a couple of quick internet searches leaving her feeling confused and frustrated. It occurred to Sue's daughter that perhaps the CCRC that was to be Sue's new home would be able to provide a recommendation for a good agent. Indeed, they did, and that's when she met Joe.

Joe was different

He arrived at her home and immediately the two hit it off. Sue hired Joe to list and sell her house and as he began to take his leave, Sue touched him gently on the arm and said "Thank you, Joe. You are different than other agents I've met with," she smiled. "I don't know exactly what it is, but I feel I can truly trust you to help me make this move."

Sue's home sold quickly, and with Joe's help, she arranged for an estate liquidator to sell the belongings she no longer needed. He also arranged for a moving company to pack and transport what was needed to Sue's new apartment at the retirement community, and made sure she was content in her new home.

A few days later, Sue's children visited their mother, breathed a sigh of relief that everything seemed under control, that a large project was complete and that - most importantly - Mom was happy, healthy,  and safe. Her daughter (who admittedly had been a bit annoyed at Sue's "pickiness" in choosing an agent) smiled and remarked that Sue had made a fine decision in choosing Joe to spearhead the sale and move. "But Mom," Sue's son asked. "How did you make your decision? Why did you choose him?"

Sue dug into her purse and drew out the list of notes she had made while interviewing Joe:

When Character is More Valuable than Competence | Keeping Current Matters

As her daughters looked at the list, Sue remarked "I felt 'OK' with the other agents. They were undoubtedly good at their jobs. But I wanted someone who was good for ME too."

And thus ends the happy story of Sue, a senior whose outlook on doing business mirrors that of most of her generation, nearly all of whom value a firm handshake and "good vibes" as much as they do hard numbers and competency.

Bottom Line

As real estate professionals serving seniors, it's important that we understand that what makes for a great partnership, truly is in the eyes of our clients.
    [created_at] => 2014-07-10T06:00:36Z
    [description] => (English) 

Today we are pleased to have Nikki Buckelew back as our guest blogger. Nikki is considered a leading authority on seniors real estate and housing. Enjoy!

It was her 80th birthday and as Sue's family gathered around in celebration, sh...
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    [title] => (English) When Character is More Valuable than Competence
    [updated_at] => 2014-07-09T19:01:55Z
    [url] => /es/2014/07/10/when-character-is-more-valuable-than-competence/
)

(English) When Character is More Valuable than Competence

(English) Today we are pleased to have Nikki Buckelew back as our guest blogger. Nikki is considered a leading authority on seniors real estate and housing. Enjoy! It was her 80th birthday and as Sue's family gathered around in celebration, sh...
1226
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    [agents_bottom_line] => (English) Is Residential Real Estate Really a 'Crapshoot'? | Keeping Current Matters

We are pleased to have KCM Founder and Chief Content Creator, Steve Harney, do a personal post today. Enjoy!

That is what a headline announced in a CNNMoney post Monday. They were quoting Karl Case “an economist whose name is synonymous with home prices. He is co-creator of the much watched S&P/Case-Shiller home price indexes with Bob Shiller, who won the Nobel Prize in economics last year.”

Case did explain that the commonly held belief that housing prices could ‘never’ depreciate was corrected over the last decade. And it is true that Case referenced a home he bought during that time had lost almost half its value.

However, there were other comments attributed to Case in the article:

    
	
  • He bought one home at $54,000 which he later sold for over four times that amount ($240,000)
    • 
	
  • Another home he purchased for $375,000 is now worth a million dollars.
    • 


He bet on three houses; one lost 50%, one gained over 400% and the other gained approximately 300%. Sounds like great odds to me.

Give me the dice and get out of my way. 

Last week, John Maxfield, in a The Motley Fool blog post, wrote:

“Over the past year, [home prices] are up by 8.9%. Over the past two years, they're up by 19.7%. Over the past three years, they're up by 23%. And there's little evidence that this trend is coming to an end anytime soon…

[It] should be obvious why now is such an opportunistic time to buy a house. Of course, if you want to wait, that's up to you. But doing so could very well be a source of regret later on down the road.”

Give me the dice and get out of my way. 

If buying residential real estate is actually a crapshoot (as the headline claimed), it seems the odds are in the shooter’s hand.

PLEASE give me the dice and get out of my way. I really want to roll.

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    [contents] => (English) Is Residential Real Estate Really a 'Crapshoot'? | Keeping Current Matters

We are pleased to have KCM Founder and Chief Content Creator, Steve Harney, do a personal post today. Enjoy!

That is what a headline announced in a CNNMoney post Monday. They were quoting Karl Case “an economist whose name is synonymous with home prices. He is co-creator of the much watched S&P/Case-Shiller home price indexes with Bob Shiller, who won the Nobel Prize in economics last year.”

Case did explain that the commonly held belief that housing prices could ‘never’ depreciate was corrected over the last decade. And it is true that Case referenced a home he bought during that time had lost almost half its value.

However, there were other comments attributed to Case in the article:

    
	
  • He bought one home at $54,000 which he later sold for over four times that amount ($240,000)
    • 
	
  • Another home he purchased for $375,000 is now worth a million dollars.
    • 


He bet on three houses; one lost 50%, one gained over 400% and the other gained approximately 300%. Sounds like great odds to me.

Give me the dice and get out of my way. 

Last week, John Maxfield, in a The Motley Fool blog post, wrote:

“Over the past year, [home prices] are up by 8.9%. Over the past two years, they're up by 19.7%. Over the past three years, they're up by 23%. And there's little evidence that this trend is coming to an end anytime soon…

[It] should be obvious why now is such an opportunistic time to buy a house. Of course, if you want to wait, that's up to you. But doing so could very well be a source of regret later on down the road.”

Give me the dice and get out of my way. 

If buying residential real estate is actually a crapshoot (as the headline claimed), it seems the odds are in the shooter’s hand.

PLEASE give me the dice and get out of my way. I really want to roll.

    [created_at] => 2014-07-09T06:00:17Z
    [description] => (English) 

We are pleased to have KCM Founder and Chief Content Creator, Steve Harney, do a personal post today. Enjoy!

That is what a headline announced in a CNNMoney post Monday. They were quoting Karl Case “an economist whose name is synonym...
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    [title] => (English) Is Residential Real Estate Really a ‘Crapshoot’?
    [updated_at] => 2014-07-07T20:03:43Z
    [url] => /es/2014/07/09/is-residential-real-estate-really-a-crapshoot/
)

(English) Is Residential Real Estate Really a ‘Crapshoot’?

(English) We are pleased to have KCM Founder and Chief Content Creator, Steve Harney, do a personal post today. Enjoy! That is what a headline announced in a CNNMoney post Monday. They were quoting Karl Case “an economist whose name is synonym...
1226
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    [agents_bottom_line] => (English) Millennials & Student Debt: We Knew They Were Wrong! | Keeping Current Matters

For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month period than any other generation as was reported by the National Association of Realtors).

We explained that the homeownership rate of people currently between the ages of 25-29 is 34.3%. That is higher than the 33.6% rate members of the previous generation (people currently between the ages of 45-49) achieved when they were that age (as per John Burns Consulting).

We explained that a recent survey showed that almost three out of every four (74%) young adults between the ages of 18-34 plan to buy a home in the next five years with 32% planning to do it in the next twelve months.

However, no matter how hard we tried, the same recourse was trumpeted back at us – What about student debt?

The good news is that the real facts about student debt are coming to light. Last week, The New York Times posted an article titled The Reality of Student Debt Is Different from the Clichés. This article went into great depth regarding the findings of a new study just released by the Brookings Institution, Is a Student Loan Crisis on the Horizon? which looked at data through 2010. The NYT article quoted key elements of the report:

    
	
  • 58% of young-adult households have less than $10,000 in debt. An additional 18% have between $10,000 and $20,000
    • 
	
  • 36% of households with people between the ages of 20 and 40 had education debt, up from 14% in 1989. Some of the increase stems from the good news that more people are going to college.
    • 
	
  • Taking financial aid into account, the average tuition at private (nonprofit) colleges has not increased any faster than overall inflation over the last decade.
    • 
	
  • Because the incomes of college graduates have grown since the early 1990s, the share of income that a typical student debtor has to devote to loan payments is only marginally higher than it was in the early 1990s — and somewhat lower than it was in late 1990s. It was 3.5% in 1992, 4.3% in 1998 and 4% in 2010.
    • 
	
  • The burden for the people with the most debt is significantly lower today than two decades ago. Someone at the 90th percentile of debt had to devote 15% of their income to repayment in 2010, down from 20% in 1992.
    • 


Bottom Line

The authors of the actual study put it simply in their conclusion:

“Despite the widely held belief that circumstances for borrowers with student loan debt are growing worse over time, our findings reveal no evidence in support of this narrative. In fact, the average growth in lifetime income among households with student loan debt easily exceeds the average growth in debt, suggesting that, all else equal, households with debt today are in a better financial position than households with debt were two decades ago. Furthermore, the incidence of burdensome monthly payments does not appear to have become more widespread over the last two decades.”
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    [content_type] => blog
    [contents] => (English) Millennials & Student Debt: We Knew They Were Wrong! | Keeping Current Matters

For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month period than any other generation as was reported by the National Association of Realtors).

We explained that the homeownership rate of people currently between the ages of 25-29 is 34.3%. That is higher than the 33.6% rate members of the previous generation (people currently between the ages of 45-49) achieved when they were that age (as per John Burns Consulting).

We explained that a recent survey showed that almost three out of every four (74%) young adults between the ages of 18-34 plan to buy a home in the next five years with 32% planning to do it in the next twelve months.

However, no matter how hard we tried, the same recourse was trumpeted back at us – What about student debt?

The good news is that the real facts about student debt are coming to light. Last week, The New York Times posted an article titled The Reality of Student Debt Is Different from the Clichés. This article went into great depth regarding the findings of a new study just released by the Brookings Institution, Is a Student Loan Crisis on the Horizon? which looked at data through 2010. The NYT article quoted key elements of the report:

    
	
  • 58% of young-adult households have less than $10,000 in debt. An additional 18% have between $10,000 and $20,000
    • 
	
  • 36% of households with people between the ages of 20 and 40 had education debt, up from 14% in 1989. Some of the increase stems from the good news that more people are going to college.
    • 
	
  • Taking financial aid into account, the average tuition at private (nonprofit) colleges has not increased any faster than overall inflation over the last decade.
    • 
	
  • Because the incomes of college graduates have grown since the early 1990s, the share of income that a typical student debtor has to devote to loan payments is only marginally higher than it was in the early 1990s — and somewhat lower than it was in late 1990s. It was 3.5% in 1992, 4.3% in 1998 and 4% in 2010.
    • 
	
  • The burden for the people with the most debt is significantly lower today than two decades ago. Someone at the 90th percentile of debt had to devote 15% of their income to repayment in 2010, down from 20% in 1992.
    • 


Bottom Line

The authors of the actual study put it simply in their conclusion:

“Despite the widely held belief that circumstances for borrowers with student loan debt are growing worse over time, our findings reveal no evidence in support of this narrative. In fact, the average growth in lifetime income among households with student loan debt easily exceeds the average growth in debt, suggesting that, all else equal, households with debt today are in a better financial position than households with debt were two decades ago. Furthermore, the incidence of burdensome monthly payments does not appear to have become more widespread over the last two decades.”
    [created_at] => 2014-06-30T06:00:50Z
    [description] => (English) 

For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home.

We explained that Millennials have purchased more homes over a recent twelve month pe...
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    [updated_at] => 2014-06-30T14:55:41Z
    [url] => /es/2014/06/30/millennials-and-student-debt-we-knew-they-were-wrong/
)

(English) Millennials and Student Debt: We Knew They Were Wrong!

(English) For almost a year now, we have been trying to debunk the myth that student debt is keeping the vast majority of Millennials from purchasing a home. We explained that Millennials have purchased more homes over a recent twelve month pe...
1226
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    [agents_bottom_line] => (English) 4 Demands to Make on Your Real Estate Agent | The KCM Crew

Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.

Here are the top 4 demands you need to make of your Real Estate Agent when buying a home:

1. Tell the truth about the price

Too many agents just take your offer at any price and then try to ‘work’ both the seller and you while negotiating later. Demand that the agent prove to you that they have a belief in the price you are offering. Make them show you their plan to get both the seller - and the bank - to accept that price. Every house in today’s market must be sold two times – first to you and then to your bank.

The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.

2. Understand the timetable with which your family is dealing

You will be moving your family into a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on parts of the purchase offer, don’t expect them to turn into a super hero when they are negotiating with the seller for you and your family.

4. FIND the right house!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with purchasing. Do not allow your agent to forget these motivations. Constantly remind them that finding the right house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. rethinking price), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!

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    [contents] => (English) 4 Demands to Make on Your Real Estate Agent | The KCM Crew

Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.

Here are the top 4 demands you need to make of your Real Estate Agent when buying a home:

1. Tell the truth about the price

Too many agents just take your offer at any price and then try to ‘work’ both the seller and you while negotiating later. Demand that the agent prove to you that they have a belief in the price you are offering. Make them show you their plan to get both the seller - and the bank - to accept that price. Every house in today’s market must be sold two times – first to you and then to your bank.

The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.

2. Understand the timetable with which your family is dealing

You will be moving your family into a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on parts of the purchase offer, don’t expect them to turn into a super hero when they are negotiating with the seller for you and your family.

4. FIND the right house!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with purchasing. Do not allow your agent to forget these motivations. Constantly remind them that finding the right house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. rethinking price), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!

    [created_at] => 2014-06-18T06:00:28Z
    [description] => (English) 

Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying....
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    [updated_at] => 2014-06-11T15:56:46Z
    [url] => /es/2014/06/18/4-demands-to-make-on-your-real-estate-agent/
)

(English) 4 Demands to Make on Your Real Estate Agent

(English) Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying....
1226
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    [agents_bottom_line] => (English) Getting a Mortgage: Why SO MUCH Paperwork? | The KCM Crew

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

    
	
  1. The government has set new guidelines that now demand that the bank prove beyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
    2. 
	
  2. The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.
    3. 


However, there is some good news in the situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate probably below 5%.

The friends and family who bought homes ten or twenty ago experienced a simpler mortgage application process but also paid a higher interest rate (the average 30 year fixed rate mortgage was 8.12% in the 1990’s and 6.29% in the 2000’s). If you went to the bank and offered to pay 7% instead of <5%, they would probably bend over backwards to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.
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    [contents] => (English) Getting a Mortgage: Why SO MUCH Paperwork? | The KCM Crew

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

    
	
  1. The government has set new guidelines that now demand that the bank prove beyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
    2. 
	
  2. The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.
    3. 


However, there is some good news in the situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate probably below 5%.

The friends and family who bought homes ten or twenty ago experienced a simpler mortgage application process but also paid a higher interest rate (the average 30 year fixed rate mortgage was 8.12% in the 1990’s and 6.29% in the 2000’s). If you went to the bank and offered to pay 7% instead of <5%, they would probably bend over backwards to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.
    [created_at] => 2014-06-17T06:00:51Z
    [description] => (English) 

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate ea...
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    [updated_at] => 2014-06-17T20:08:43Z
    [url] => /es/2014/06/17/getting-a-mortgage-why-so-much-paperwork/
)

(English) Getting a Mortgage: Why SO MUCH Paperwork?

(English) We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate ea...
1226
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    [agents_bottom_line] => (English) We are excited to have Jeymy Gonzalez as our guest blogger today. Being a first generation Hispanic immigrant, she has personal experience with the challenges Hispanics may face during the real estate process and works to assist this community with guidance and education. 

Upscale Latinos & Housing | The KCM Crew

Last year Nielsen and the Association of Hispanic Advertising Agencies (AHAA) identified Upscale Latinos as the most influential segment since the Baby Boomers. Upscale Latinos are becoming a powerful population segment and have grown by more than two million since 2010.

“Recognizing the diversity within the Hispanic population in the U.S., Nielsen and AHAA embarked this year on a second study to further understand the behavior of upscale Latino households, what drives them toward upscale-luxury purchases and what drivers and detractors they share—or don’t share—with non-Hispanic upscale households.” Here are some important points that they found:

    
	
  • The number of Upscale Latinos with an annual income range from $50,000 to $100,000 is growing.
    • 
	
  • They account for 29% of Hispanic homes and more that 15 million Hispanics.
    • 
	
  • They spend about $500 billion each year, which represents 40 percent of the $1.3 trillion in Hispanic purchasing power.
    • 
	
  • At least 60 percent say they have strong ties to their Latino culture, and 30 to 40 percent voice a strong cultural duality.
    • 


According to “the upscale Latino 2.0” study by Nielsen/AHAA, this is the percent of upscale Hispanics that say within the next 12 months they will have sufficient resources to:

    
	
  • 47% to pay rent/mortgage
    • 
	
  • 39% to live in safe neighborhood/good public school
    • 
	
  • 33% to pay off credit card debit
    • 
	
  • 18% to qualify for a mortgage
    • 


One Powerful Segment, Three Different Mindsets

Nielsen and AHAA identified three distinct sub-mindsets with in this group and this is how they describe them:

    
	
  1. Luxury Seekers (42%) are mostly drawn to high-end products for individual rewards and to feel good about themselves. Thirty-four percent of upscale non-Hispanics fall into this sub-segment, making them less likely than upscale Hispanics to be luxury seekers.
    2. 
	
  2. Sensible Seekers (40%) are pragmatic about their purchases and make high-end decisions when it makes sense. There is a greater distribution of upscale non-Hispanics in this sub-segment at 48 percent.
    3. 
	
  3. Social Seekers (18%) see high-end goods and services as timeless and classic; they seek recognition and social status. Upscale non-Hispanics also make up 18 percent of this sub-segment.
    4. 


Yes, we are all Hispanic/Latinos but we don’t like the same things! You can notice a difference among the 3 distinct sub-groups. So understand the differences and for those working the Luxury market, remember 29% of the Hispanic homes are upscale Latinos.
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    [contents] => (English) We are excited to have Jeymy Gonzalez as our guest blogger today. Being a first generation Hispanic immigrant, she has personal experience with the challenges Hispanics may face during the real estate process and works to assist this community with guidance and education. 

Upscale Latinos & Housing | The KCM Crew

Last year Nielsen and the Association of Hispanic Advertising Agencies (AHAA) identified Upscale Latinos as the most influential segment since the Baby Boomers. Upscale Latinos are becoming a powerful population segment and have grown by more than two million since 2010.

“Recognizing the diversity within the Hispanic population in the U.S., Nielsen and AHAA embarked this year on a second study to further understand the behavior of upscale Latino households, what drives them toward upscale-luxury purchases and what drivers and detractors they share—or don’t share—with non-Hispanic upscale households.” Here are some important points that they found:

    
	
  • The number of Upscale Latinos with an annual income range from $50,000 to $100,000 is growing.
    • 
	
  • They account for 29% of Hispanic homes and more that 15 million Hispanics.
    • 
	
  • They spend about $500 billion each year, which represents 40 percent of the $1.3 trillion in Hispanic purchasing power.
    • 
	
  • At least 60 percent say they have strong ties to their Latino culture, and 30 to 40 percent voice a strong cultural duality.
    • 


According to “the upscale Latino 2.0” study by Nielsen/AHAA, this is the percent of upscale Hispanics that say within the next 12 months they will have sufficient resources to:

    
	
  • 47% to pay rent/mortgage
    • 
	
  • 39% to live in safe neighborhood/good public school
    • 
	
  • 33% to pay off credit card debit
    • 
	
  • 18% to qualify for a mortgage
    • 


One Powerful Segment, Three Different Mindsets

Nielsen and AHAA identified three distinct sub-mindsets with in this group and this is how they describe them:

    
	
  1. Luxury Seekers (42%) are mostly drawn to high-end products for individual rewards and to feel good about themselves. Thirty-four percent of upscale non-Hispanics fall into this sub-segment, making them less likely than upscale Hispanics to be luxury seekers.
    2. 
	
  2. Sensible Seekers (40%) are pragmatic about their purchases and make high-end decisions when it makes sense. There is a greater distribution of upscale non-Hispanics in this sub-segment at 48 percent.
    3. 
	
  3. Social Seekers (18%) see high-end goods and services as timeless and classic; they seek recognition and social status. Upscale non-Hispanics also make up 18 percent of this sub-segment.
    4. 


Yes, we are all Hispanic/Latinos but we don’t like the same things! You can notice a difference among the 3 distinct sub-groups. So understand the differences and for those working the Luxury market, remember 29% of the Hispanic homes are upscale Latinos.
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    [description] => (English) We are excited to have Jeymy Gonzalez as our guest blogger today. Being a first generation Hispanic immigrant, she has personal experience with the challenges Hispanics may face during the real estate process and works to assist this commun...
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    [title] => (English) Upscale Latinos and Housing
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(English) Upscale Latinos and Housing

(English) We are excited to have Jeymy Gonzalez as our guest blogger today. Being a first generation Hispanic immigrant, she has personal experience with the challenges Hispanics may face during the real estate process and works to assist this commun...
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    [agents_bottom_line] => (English) Home

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 30.8% (most optimistic) and 9.4% (most pessimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Increasing

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison; projecting that rates will be up almost a full percentage point by the end of next year.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way, You are Paying a Mortgage

As a recent paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”


4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
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    [content_type] => blog
    [contents] => (English) Home

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 30.8% (most optimistic) and 9.4% (most pessimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Increasing

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison; projecting that rates will be up almost a full percentage point by the end of next year.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way, You are Paying a Mortgage

As a recent paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”


4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
    [created_at] => 2014-06-09T06:00:00Z
    [description] => (English) 

Here are four great reasons to consider buying a home today, instead of waiting.
1. Prices Will Continue to Rise
The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing...
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    [title] => (English) 4 Reasons to Buy YOUR HOME Now!
    [updated_at] => 2014-06-09T17:29:17Z
    [url] => /es/2014/06/09/4-reasons-to-buy-your-home-now/
)

(English) 4 Reasons to Buy YOUR HOME Now!

(English) Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing...
1226
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    [agents_bottom_line] => (English) Our guest blogger today is Nikki Buckelew. As the Founder and CEO of the Seniors Real Estate Institute, Nikki brings great insight into the Senior Market.

It's probably only natural for real estate agents to assume that most boomers or retirees bent on moving to a new city to enjoy their golden years will be on the trail to Florida, Arizona, or some other state blessed with warmth and plenty of sunshine. And those states are probably the ones best situated to offer plenty of age-in-place benefits, right?

Nope.

When a boomer or senior who's open-minded about where they wish to move and retire searches Google for the best cities to age in place or best cities to retire, they finds some spots that are a bit out of the norm, but quite intriguing nonetheless.

Places like Sioux Falls, SD; Provo, UT; Iowa City, IA; Bismarck, ND; Columbia, MO; Omaha, NE; Madison, WI; and Boston, MA top the list.

As adults 55+ begin to contemplate their future and plan for a possible move, they are hearing more and more about the importance of preparing to age-in-place. They already know they hope to live in their own home, independently, for as long as possible. And the cities listed above – plus many other non-traditional retirement options – are receiving plenty of attention as go-to spots for their aging-in-place benefits in the form of quality healthcare, accessible transportation, government initiatives in building the city as senior-friendly, and a number of other indexes.

The Milken Institute, a non-partisan think tank, compiled a list in 2012 of the 259 Best Cities to Age Successfully. Another ranking is due later this summer of 2014. It divided the rankings into "Large Metros" and 'Small Metros," with Provo, Utah topping the Large City list and Sioux Falls the Small City rankings.

Others in the Top 10 of Large Cities to Age Successfully include Pittsburgh, Toledo, Des Moines, Salt Lake City, and Washington D.C.

Others in the Top 10 of Small Cities to Age Successfully include Rochester, MN, Ann Arbor, MI, Missoula, MT, Durham-Chapel Hill, NC, and Gainesville, FL.

See the entire list here and learn more about the Milken Institute's approach to promoting aging-in-place awareness: http://successfulaging.milkeninstitute.org/bcsa.html

Frankly, if I were a real estate agent or broker in any of these top cities (and even many further down the list), I'd be going full-bore to make sure I was positioned to capture as much of this older adult segment in my town as possible. Yes, older adults will purposefully be moving to my city and I should be the one to serve them and find a stellar house for them to buy. That would include promoting my area's dominance as a haven for older adults, while working to ensure that I had the knowledge to properly help them. And oh yeah. Since older adults from outside the area will be searching online for information about my city, I'd want to make sure that I popped up front and center on Google as an expert in real estate for boomers and seniors in my town.

Simply put, lists like this give you plenty of marketing power - plus motivation - to grab a huge segment of business in your market that perhaps you never even knew existed.
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    [content_type] => blog
    [contents] => (English) Our guest blogger today is Nikki Buckelew. As the Founder and CEO of the Seniors Real Estate Institute, Nikki brings great insight into the Senior Market.

It's probably only natural for real estate agents to assume that most boomers or retirees bent on moving to a new city to enjoy their golden years will be on the trail to Florida, Arizona, or some other state blessed with warmth and plenty of sunshine. And those states are probably the ones best situated to offer plenty of age-in-place benefits, right?

Nope.

When a boomer or senior who's open-minded about where they wish to move and retire searches Google for the best cities to age in place or best cities to retire, they finds some spots that are a bit out of the norm, but quite intriguing nonetheless.

Places like Sioux Falls, SD; Provo, UT; Iowa City, IA; Bismarck, ND; Columbia, MO; Omaha, NE; Madison, WI; and Boston, MA top the list.

As adults 55+ begin to contemplate their future and plan for a possible move, they are hearing more and more about the importance of preparing to age-in-place. They already know they hope to live in their own home, independently, for as long as possible. And the cities listed above – plus many other non-traditional retirement options – are receiving plenty of attention as go-to spots for their aging-in-place benefits in the form of quality healthcare, accessible transportation, government initiatives in building the city as senior-friendly, and a number of other indexes.

The Milken Institute, a non-partisan think tank, compiled a list in 2012 of the 259 Best Cities to Age Successfully. Another ranking is due later this summer of 2014. It divided the rankings into "Large Metros" and 'Small Metros," with Provo, Utah topping the Large City list and Sioux Falls the Small City rankings.

Others in the Top 10 of Large Cities to Age Successfully include Pittsburgh, Toledo, Des Moines, Salt Lake City, and Washington D.C.

Others in the Top 10 of Small Cities to Age Successfully include Rochester, MN, Ann Arbor, MI, Missoula, MT, Durham-Chapel Hill, NC, and Gainesville, FL.

See the entire list here and learn more about the Milken Institute's approach to promoting aging-in-place awareness: http://successfulaging.milkeninstitute.org/bcsa.html

Frankly, if I were a real estate agent or broker in any of these top cities (and even many further down the list), I'd be going full-bore to make sure I was positioned to capture as much of this older adult segment in my town as possible. Yes, older adults will purposefully be moving to my city and I should be the one to serve them and find a stellar house for them to buy. That would include promoting my area's dominance as a haven for older adults, while working to ensure that I had the knowledge to properly help them. And oh yeah. Since older adults from outside the area will be searching online for information about my city, I'd want to make sure that I popped up front and center on Google as an expert in real estate for boomers and seniors in my town.

Simply put, lists like this give you plenty of marketing power - plus motivation - to grab a huge segment of business in your market that perhaps you never even knew existed.
    [created_at] => 2014-05-29T06:00:34Z
    [description] => (English) Our guest blogger today is Nikki Buckelew. As the Founder and CEO of the Seniors Real Estate Institute, Nikki brings great insight into the Senior Market.

It's probably only natural for real estate agents to assume that most boomers or r...
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    [title] => (English) Non-Traditional “Retirement” Metros Becoming Meccas for Older Adults Who Want to Age in Place
    [updated_at] => 2014-05-21T19:23:09Z
    [url] => /es/2014/05/29/non-traditional-retirement-metros-becoming-meccas-for-older-adults-who-want-to-age-in-place/
)

(English) Non-Traditional “Retirement” Metros Becoming Meccas for Older Adults Who Want to Age in Place

(English) Our guest blogger today is Nikki Buckelew. As the Founder and CEO of the Seniors Real Estate Institute, Nikki brings great insight into the Senior Market. It's probably only natural for real estate agents to assume that most boomers or r...
1226
stdClass Object
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    [agents_bottom_line] => (English) Create Wealth: Move Up Now!! | The KCM Crew

Many experts are currently discussing a variety of topics such as real estate as an investment, the movement on mortgage interest rates and reasons to buy now instead of waiting. It is important that we realize that this does not apply solely to the first time home buyer.

The opportunity that exists in real estate today is there for everyone.

However, the family that already owns a home might be thinking that, if they wait, their home could be worth more next year than it is now. And that may cause them to delay moving up to the home of their dreams thinking it makes good financial sense. Actually, the opposite is true. This is the best chance a family has to buy up into the home that makes sense for their family right now.

We must realize that whatever percentage of value we gain on our house will also be gained on our dream home.

Let’s assume your current home is worth $500,000. Your house will be worth $520,000 next year if prices rise by 4% over that time (a number projected by the Home Price Expectation Survey).

However, the $750,000 home you are hoping to move into will also appreciate by about that same 4%. That means next year it will be valued at $780,000. You wouldn’t make $20,000 by waiting. You would actually be losing $10,000 ($30,000 - $20,000).

And, you will pay a lower interest rate on the mortgage than you probably will next year.

Plug in the numbers that apply to your house and the home you are longing to buy and see what the bottom line turns out to be for you.

That is how wealth is built in this country - by purchasing real estate at the right time, at the right price and at the right terms.

Go out and find your family's dream house and buy it! Ten years from now, you will be glad you did!
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    [contents] => (English) Create Wealth: Move Up Now!! | The KCM Crew

Many experts are currently discussing a variety of topics such as real estate as an investment, the movement on mortgage interest rates and reasons to buy now instead of waiting. It is important that we realize that this does not apply solely to the first time home buyer.

The opportunity that exists in real estate today is there for everyone.

However, the family that already owns a home might be thinking that, if they wait, their home could be worth more next year than it is now. And that may cause them to delay moving up to the home of their dreams thinking it makes good financial sense. Actually, the opposite is true. This is the best chance a family has to buy up into the home that makes sense for their family right now.

We must realize that whatever percentage of value we gain on our house will also be gained on our dream home.

Let’s assume your current home is worth $500,000. Your house will be worth $520,000 next year if prices rise by 4% over that time (a number projected by the Home Price Expectation Survey).

However, the $750,000 home you are hoping to move into will also appreciate by about that same 4%. That means next year it will be valued at $780,000. You wouldn’t make $20,000 by waiting. You would actually be losing $10,000 ($30,000 - $20,000).

And, you will pay a lower interest rate on the mortgage than you probably will next year.

Plug in the numbers that apply to your house and the home you are longing to buy and see what the bottom line turns out to be for you.

That is how wealth is built in this country - by purchasing real estate at the right time, at the right price and at the right terms.

Go out and find your family's dream house and buy it! Ten years from now, you will be glad you did!
    [created_at] => 2014-05-28T06:00:58Z
    [description] => (English) 

Many experts are currently discussing a variety of topics such as real estate as an investment, the movement on mortgage interest rates and reasons to buy now instead of waiting. It is important that we realize that this does not apply ...
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    [title] => (English) Create Wealth: Move Up Now!!
    [updated_at] => 2014-05-21T15:25:51Z
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)

(English) Create Wealth: Move Up Now!!

(English) Many experts are currently discussing a variety of topics such as real estate as an investment, the movement on mortgage interest rates and reasons to buy now instead of waiting. It is important that we realize that this does not apply ...
1226
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    [agents_bottom_line] => (English) Moving Up? Do It Now | The KCM Crew

A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today’s blog post.

There is no way for us to predict the future but we can look at what happened over the last year. Let’s look at buyers that considered moving up last year but decided to wait instead.

Assume they had a home worth $300,000 and were looking at a home for $450,000 (putting 10% down they would get a mortgage of $405,000). By waiting, their house appreciated by approximately 10% over the last year (based on the Case Shiller Pricing Index). Their home could now sell for $330,000. That would mean an additional $30,000 in equity assuming they didn’t incur any expenses in selling the home.

But, the $450,000 home would now be worth $495,000. Adding the original 10% down payment ($45,000) to the additional equity ($30,000), they would now have a $75,000 down payment. That would still need a mortgage of $425,000.

Here is a table showing what additional monthly cost would be incurred by waiting:

Cost of Waiting Visual Members

According to the Home Price Expectation Survey, home prices are projected to appreciate by approximately 6% over the next eighteen months. Interest rates are also expected to rise by as much as another full percentage point in that same time period according to FreddieMac. If your family plans to move-up to a nicer or bigger home, it may make sense to move now rather than later.
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    [contents] => (English) Moving Up? Do It Now | The KCM Crew

A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today’s blog post.

There is no way for us to predict the future but we can look at what happened over the last year. Let’s look at buyers that considered moving up last year but decided to wait instead.

Assume they had a home worth $300,000 and were looking at a home for $450,000 (putting 10% down they would get a mortgage of $405,000). By waiting, their house appreciated by approximately 10% over the last year (based on the Case Shiller Pricing Index). Their home could now sell for $330,000. That would mean an additional $30,000 in equity assuming they didn’t incur any expenses in selling the home.

But, the $450,000 home would now be worth $495,000. Adding the original 10% down payment ($45,000) to the additional equity ($30,000), they would now have a $75,000 down payment. That would still need a mortgage of $425,000.

Here is a table showing what additional monthly cost would be incurred by waiting:

Cost of Waiting Visual Members

According to the Home Price Expectation Survey, home prices are projected to appreciate by approximately 6% over the next eighteen months. Interest rates are also expected to rise by as much as another full percentage point in that same time period according to FreddieMac. If your family plans to move-up to a nicer or bigger home, it may make sense to move now rather than later.
    [created_at] => 2014-05-27T06:00:34Z
    [description] => (English) 

A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that o...
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    [title] => (English) Moving Up? Do it Now!
    [updated_at] => 2014-05-27T13:38:36Z
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)

(English) Moving Up? Do it Now!

(English) A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that o...
1226
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    [agents_bottom_line] => (English) Justin DeCesare is back as our guest blogger today. Justin is the CEO of Middleton & Associates Real Estate, one of the largest independently owned Brokerages in coastal San Diego. 



A recent article written by Kelley Holland of CNBC titled “Retirement trumps home ownership for millennials” references a National Endowment for Financial Education study that claims only 13% of Millennials see home ownership as a top priority.

Half of the same sample claimed retirement saving was their primary goal.

To me, as both a Millennial and a Real Estate Broker/CEO, the answers to this survey stem from the perception of what home ownership is.

The last decade, or the fail decade as it is known by MSNBC’s Chris Hayes, has wiped out countless sums of home equity. Even in the gains of the last two years, we are not back at the record highs of 2005 and 2006.

The correlation here is that this decline in home prices is when Millennials have come of age. We have grown up in a time when people began treating home ownership like they would a swing trade. It became the same as renting, but with the possibility for a quick return. Pride of ownership left the picture and Real Estate was turned into another get rich quick scheme.

The free-market economics of the Real Estate Market took over when the bubble was too full, and for most of the average Millennials adult life they have heard nothing but Real Estate negativity in the media.

As the market rebounds, and the understanding that home ownership provides for long term wealth takes over the perception of how retirement savings can be made, I am sure future results of this study will change.

1994 was 20 years ago.

Go back in the public records (or your MLS if it reaches two decades ago) and find some homes that were sold and have remained with one owner since. Even considering the plummeting values of the late 2000s, the home values and retirement savings are still there.

As Agents and Brokers, it is our duty to help our clients and not simply act as a salesman.

My suggestion to you is that as you are breaking down the monthly payments of your young clients’ mortgage, help them see how the home itself is more than a dwelling and how it will play into the diversity of their retirement plans.
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    [content_type] => blog
    [contents] => (English) Justin DeCesare is back as our guest blogger today. Justin is the CEO of Middleton & Associates Real Estate, one of the largest independently owned Brokerages in coastal San Diego. 



A recent article written by Kelley Holland of CNBC titled “Retirement trumps home ownership for millennials” references a National Endowment for Financial Education study that claims only 13% of Millennials see home ownership as a top priority.

Half of the same sample claimed retirement saving was their primary goal.

To me, as both a Millennial and a Real Estate Broker/CEO, the answers to this survey stem from the perception of what home ownership is.

The last decade, or the fail decade as it is known by MSNBC’s Chris Hayes, has wiped out countless sums of home equity. Even in the gains of the last two years, we are not back at the record highs of 2005 and 2006.

The correlation here is that this decline in home prices is when Millennials have come of age. We have grown up in a time when people began treating home ownership like they would a swing trade. It became the same as renting, but with the possibility for a quick return. Pride of ownership left the picture and Real Estate was turned into another get rich quick scheme.

The free-market economics of the Real Estate Market took over when the bubble was too full, and for most of the average Millennials adult life they have heard nothing but Real Estate negativity in the media.

As the market rebounds, and the understanding that home ownership provides for long term wealth takes over the perception of how retirement savings can be made, I am sure future results of this study will change.

1994 was 20 years ago.

Go back in the public records (or your MLS if it reaches two decades ago) and find some homes that were sold and have remained with one owner since. Even considering the plummeting values of the late 2000s, the home values and retirement savings are still there.

As Agents and Brokers, it is our duty to help our clients and not simply act as a salesman.

My suggestion to you is that as you are breaking down the monthly payments of your young clients’ mortgage, help them see how the home itself is more than a dwelling and how it will play into the diversity of their retirement plans.
    [created_at] => 2014-05-22T06:00:47Z
    [description] => (English) Justin DeCesare is back as our guest blogger today. Justin is the CEO of Middleton & Associates Real Estate, one of the largest independently owned Brokerages in coastal San Diego. 



A recent article written by Kelley Holland of C...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 47
    [published_at] => 2014-05-22T10:00:47Z
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    [slug] => millennials-diversify-with-housing
    [status] => published
    [tags] => Array
        (
        )

    [title] => (English) Millennials: Diversify with Housing
    [updated_at] => 2014-05-20T14:53:57Z
    [url] => /es/2014/05/22/millennials-diversify-with-housing/
)

(English) Millennials: Diversify with Housing

(English) Justin DeCesare is back as our guest blogger today. Justin is the CEO of Middleton & Associates Real Estate, one of the largest independently owned Brokerages in coastal San Diego.  A recent article written by Kelley Holland of C...
1226
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    [agents_bottom_line] => (English) Home-Price-Expectation-275Today, many real estate conversations center on housing prices and where they may be headed. That is why  the Home Price Expectation Survey is a great barometer. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

    
	
  • Home values will appreciate by 4.4% in 2014.
    • 
	
  • The cumulative appreciation will be 19.5% by 2018.
    • 
	
  • That means the average annual appreciation will be 3.6% over the next 5 years.
    • 
	
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 9.4% by 2018.
    • 


Individual opinions make headlines. This survey is a fairer depiction of future values.
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    [content_type] => blog
    [contents] => (English) Home-Price-Expectation-275Today, many real estate conversations center on housing prices and where they may be headed. That is why  the Home Price Expectation Survey is a great barometer. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

    
	
  • Home values will appreciate by 4.4% in 2014.
    • 
	
  • The cumulative appreciation will be 19.5% by 2018.
    • 
	
  • That means the average annual appreciation will be 3.6% over the next 5 years.
    • 
	
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 9.4% by 2018.
    • 


Individual opinions make headlines. This survey is a fairer depiction of future values.
    [created_at] => 2014-05-21T07:00:20Z
    [description] => (English) Today, many real estate conversations center on housing prices and where they may be headed. That is why  the Home Price Expectation Survey is a great barometer. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred econ...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 46
    [published_at] => 2014-05-21T07:00:20Z
    [related] => Array
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    [slug] => future-house-prices-a-look-into-the-crystal-ball
    [status] => published
    [tags] => Array
        (
        )

    [title] => (English) Future House Prices: A Look into the Crystal Ball
    [updated_at] => 2014-05-20T19:56:25Z
    [url] => /es/2014/05/21/future-house-prices-a-look-into-the-crystal-ball/
)

(English) Future House Prices: A Look into the Crystal Ball

(English) Today, many real estate conversations center on housing prices and where they may be headed. That is why  the Home Price Expectation Survey is a great barometer. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred econ...
1226
stdClass Object
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    [agents_bottom_line] => (English) We pride ourselves on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different.

Confusion2Do as I Say… not as I Do

This adage could be no truer today after it has been reported, in a recent Herald Tribune article, that when it came to selling his Florida mansion, Al Bennati, the longtime chief executive of BuyOwner.com, has chosen to list his home with a local real estate agent.

BuyOwner.com is one of many websites out there now that encourage home owners that they do not need to enlist the help of a professional agent to be able to sell their home. They go as far as to tell homeowners:

"BuyOwner.com allows you to reach the most potential buyers in the shortest amount of time, in the most effective (the Internet) and most cost effective manner (no commission!) possible."

Let’s break down that statement:

Myth #1 – The internet is the most effective way to sell your home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. When the time came to list his own home, Bennati went against his own advice saying:

"To sell a home of this magnitude, it needs to be done by a person and a company that reaches buyers of this caliber."


Myth #2 – FSBO’ing is the most cost effective solution

Without proper exposure to the “right kind of buyers” your home will not sell. Many real estate professionals have elaborate strategies to get your listing in front of exactly who needs to see it.

The most recent Home Sellers’ and Buyers’ Profile Report from the National Association of Realtors revealed that, though 92% of buyers search for a home on the internet, 90% still use a real estate professional.

This isn’t the first time that a CEO of a major FSBO website has enlisted the help of an agent when the time came to sell their own home. In August of 2011 it was reported that Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, needed an agent to sell his NYC apartment.

And, he got more money!!!!

Bottom Line

Two separate people made fortunes convincing others to sell their home through their FSBO sites. Yet, when it came to selling their own home, they recognized the value of using a real estate professional.

There is a reason the real estate industry has been around for centuries: it performs a valuable service.
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    [content_type] => blog
    [contents] => (English) We pride ourselves on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different.

Confusion2Do as I Say… not as I Do

This adage could be no truer today after it has been reported, in a recent Herald Tribune article, that when it came to selling his Florida mansion, Al Bennati, the longtime chief executive of BuyOwner.com, has chosen to list his home with a local real estate agent.

BuyOwner.com is one of many websites out there now that encourage home owners that they do not need to enlist the help of a professional agent to be able to sell their home. They go as far as to tell homeowners:

"BuyOwner.com allows you to reach the most potential buyers in the shortest amount of time, in the most effective (the Internet) and most cost effective manner (no commission!) possible."

Let’s break down that statement:

Myth #1 – The internet is the most effective way to sell your home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. When the time came to list his own home, Bennati went against his own advice saying:

"To sell a home of this magnitude, it needs to be done by a person and a company that reaches buyers of this caliber."


Myth #2 – FSBO’ing is the most cost effective solution

Without proper exposure to the “right kind of buyers” your home will not sell. Many real estate professionals have elaborate strategies to get your listing in front of exactly who needs to see it.

The most recent Home Sellers’ and Buyers’ Profile Report from the National Association of Realtors revealed that, though 92% of buyers search for a home on the internet, 90% still use a real estate professional.

This isn’t the first time that a CEO of a major FSBO website has enlisted the help of an agent when the time came to sell their own home. In August of 2011 it was reported that Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, needed an agent to sell his NYC apartment.

And, he got more money!!!!

Bottom Line

Two separate people made fortunes convincing others to sell their home through their FSBO sites. Yet, when it came to selling their own home, they recognized the value of using a real estate professional.

There is a reason the real estate industry has been around for centuries: it performs a valuable service.
    [created_at] => 2014-05-20T06:00:51Z
    [description] => (English) We pride ourselves on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get cau...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 45
    [published_at] => 2014-05-20T10:00:51Z
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    [slug] => fsbo-millionaires-use-real-estate-agents
    [status] => published
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        )

    [title] => (English) FSBO Millionaires Use Real Estate Agents
    [updated_at] => 2014-05-19T19:36:37Z
    [url] => /es/2014/05/20/fsbo-millionaires-use-real-estate-agents/
)

(English) FSBO Millionaires Use Real Estate Agents

(English) We pride ourselves on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get cau...
1226
stdClass Object
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    [agents_bottom_line] => (English) iStock_000002916959LargeThe Hispanic community was hit hardest by the housing crash. Now that the market is recovering, many of these families have the opportunity to either buy a home again, or those that lost home value during those years, are seeing equity return allowing them to sell and move to the home that they always wanted.

These buyers are ready, but according to a recent survey done by NAHREP (the National Association of Hispanic Real Estate Professionals) there are barriers that do not allow these buyers to enter the market right now. As real estate professionals is our duty to remove some of these barriers, if possible, and help as many families as we can become homeowners if they are willing ready and able to.

The Hispanic community is becoming a very important part of today’s real estate market, “The number of Hispanic households has grown to 14.7 million in 2013 and today a Hispanic youth turns 18 every minute of every day,” according to the 2013 State of Hispanic Homeownership Report.

4 out of 10 new households in the United States are expected to be Hispanic in 2014, this is a major opportunity for real estate professionals.
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    [content_type] => blog
    [contents] => (English) iStock_000002916959LargeThe Hispanic community was hit hardest by the housing crash. Now that the market is recovering, many of these families have the opportunity to either buy a home again, or those that lost home value during those years, are seeing equity return allowing them to sell and move to the home that they always wanted.

These buyers are ready, but according to a recent survey done by NAHREP (the National Association of Hispanic Real Estate Professionals) there are barriers that do not allow these buyers to enter the market right now. As real estate professionals is our duty to remove some of these barriers, if possible, and help as many families as we can become homeowners if they are willing ready and able to.

The Hispanic community is becoming a very important part of today’s real estate market, “The number of Hispanic households has grown to 14.7 million in 2013 and today a Hispanic youth turns 18 every minute of every day,” according to the 2013 State of Hispanic Homeownership Report.

4 out of 10 new households in the United States are expected to be Hispanic in 2014, this is a major opportunity for real estate professionals.
    [created_at] => 2014-05-15T06:00:04Z
    [description] => (English) The Hispanic community was hit hardest by the housing crash. Now that the market is recovering, many of these families have the opportunity to either buy a home again, or those that lost home value during those years, are seeing equity retu...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 42
    [published_at] => 2014-05-15T10:00:04Z
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    [slug] => the-importance-of-the-latino-community-to-todays-real-estate-market
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    [title] => (English) The Importance of the Latino Community to Today's Real Estate Market
    [updated_at] => 2014-05-14T18:44:34Z
    [url] => /es/2014/05/15/the-importance-of-the-latino-community-to-todays-real-estate-market/
)

(English) The Importance of the Latino Community to Today's Real Estate Market

(English) The Hispanic community was hit hardest by the housing crash. Now that the market is recovering, many of these families have the opportunity to either buy a home again, or those that lost home value during those years, are seeing equity retu...
1226
stdClass Object
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    [agents_bottom_line] => (English) Bank as House.1Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on homeownership - The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.

Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available. 

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent. 

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning. 

“Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for many social and family reasons. It also makes sense financially.
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    [content_type] => blog
    [contents] => (English) Bank as House.1Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on homeownership - The Dream Lives On: the Future of Homeownership in America. In his paper, Belsky reveals five financial reasons people should consider buying a home.

Here are the five reasons, each followed by an excerpt from the study:

1.) Housing is typically the one leveraged investment available. 

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.”

2.) You're paying for housing whether you own or rent. 

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is usually a form of “forced savings”.

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

4.) There are substantial tax benefits to owning. 

“Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents have tended over most time periods to go up at or higher than the rate of inflation, making owning an attractive proposition.”

Bottom Line

We realize that homeownership makes sense for many Americans for many social and family reasons. It also makes sense financially.
    [created_at] => 2014-05-13T06:00:43Z
    [description] => (English) Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on ho...
    [expired_at] => 
    [featured_image] => https:///
    [id] => 40
    [published_at] => 2014-05-13T10:00:43Z
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    [slug] => harvard-5-financial-reason-to-buy-a-home
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    [title] => (English) Harvard: 5 Financial Reasons to Buy a Home
    [updated_at] => 2014-05-15T17:05:41Z
    [url] => /es/2014/05/13/harvard-5-financial-reason-to-buy-a-home/
)

(English) Harvard: 5 Financial Reasons to Buy a Home

(English) Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. Last year he released a paper on ho...
1226
stdClass Object
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    [agents_bottom_line] => (English) 
1.22 VisualGrowing up it seemed ‘white lies’ were okay while lying was a sin. As children, we sometimes had difficulty understanding where the line was. As we matured, we realized there most definitely was a difference.


If a husband or wife asks if it is okay to invite their parents over for dinner, the spouse would probably say ‘sure’ even if it wasn’t 100% the truth. That was a ‘white lie’. If a young boy dresses up as a monster on Halloween and asks his father if he looks ‘really scary’, it was okay for his dad to say ‘YES’! That was a ‘white lie’.


In both cases, the person telling the ‘white lie’ was saying what the other person wanted to hear. In both cases, there was no harm in not telling the 100% truth. In both cases, it was a ‘white lie’. However, if we are not telling the 100% truth in order to save someone’s feelings AND IT HURTS THEM, we are lying.



What does this have to do with real estate?


We believe there are some in the real estate industry more worried about a homeowner’s feelings than they are about telling the truth about the current value of their home. These agents are not necessarily malicious. They just realize they may disappoint a seller at a listing appointment by telling the truth about what the house will sell for. They find it difficult to deliver tough news. To make sellers feel better, they lie.



Good agents can deliver good news. Great agents know how to deliver tough news.


In today’s real estate market, you need an agent that will tell you the truth, even when you don’t want to hear it. You need an agent more worried about your family than they are about your feelings. You need an agent who can get the house sold!



What this means to you


If you are interviewing potential listing agents, demand they tell you the truth. Don’t hire the agent that tells you what you want to hear. Hire the agent that tells you what you need to know. Reward their honesty.

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    [content_type] => blog
    [contents] => (English) 
1.22 VisualGrowing up it seemed ‘white lies’ were okay while lying was a sin. As children, we sometimes had difficulty understanding where the line was. As we matured, we realized there most definitely was a difference.


If a husband or wife asks if it is okay to invite their parents over for dinner, the spouse would probably say ‘sure’ even if it wasn’t 100% the truth. That was a ‘white lie’. If a young boy dresses up as a monster on Halloween and asks his father if he looks ‘really scary’, it was okay for his dad to say ‘YES’! That was a ‘white lie’.


In both cases, the person telling the ‘white lie’ was saying what the other person wanted to hear. In both cases, there was no harm in not telling the 100% truth. In both cases, it was a ‘white lie’. However, if we are not telling the 100% truth in order to save someone’s feelings AND IT HURTS THEM, we are lying.



What does this have to do with real estate?


We believe there are some in the real estate industry more worried about a homeowner’s feelings than they are about telling the truth about the current value of their home. These agents are not necessarily malicious. They just realize they may disappoint a seller at a listing appointment by telling the truth about what the house will sell for. They find it difficult to deliver tough news. To make sellers feel better, they lie.



Good agents can deliver good news. Great agents know how to deliver tough news.


In today’s real estate market, you need an agent that will tell you the truth, even when you don’t want to hear it. You need an agent more worried about your family than they are about your feelings. You need an agent who can get the house sold!



What this means to you


If you are interviewing potential listing agents, demand they tell you the truth. Don’t hire the agent that tells you what you want to hear. Hire the agent that tells you what you need to know. Reward their honesty.

    [created_at] => 2014-05-07T06:00:39Z
    [description] => (English) Growing up it seemed ‘white lies’ were okay while lying was a sin. As children, we sometimes had difficulty understanding where the line was. As we matured, we realized there most definitely was a difference.
If a husband or wife asks if i...
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    [title] => (English) Difference Between a ‘White Lie’ and Lying
    [updated_at] => 2014-05-07T14:50:05Z
    [url] => /es/2014/05/07/difference-between-a-white-lie-and-lying-2/
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(English) Difference Between a ‘White Lie’ and Lying

(English) Growing up it seemed ‘white lies’ were okay while lying was a sin. As children, we sometimes had difficulty understanding where the line was. As we matured, we realized there most definitely was a difference. If a husband or wife asks if i...
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    [agents_bottom_line] => (English) Today's post is written by Steve Harney of Keeping Current Matters.smug

I have been a subscriber to the Wall Street Journal (WSJ) for as long as I can remember. In my opinion, it is the single greatest source of financial information and insights available. I don’t always agree with their analysis but I always respect their position.

However, in an article this past weekend, The New Math of Renting vs. Buying, they flat out got it wrong. Below are a few excerpts from the article and the reason why I believe the analysis to be incorrect.

The Cost of Renting is Lower than the Cost of Owning

In the article, they discuss that homeownership is more expensive than renting in many large metropolitan areas.

"The monthly cost of renting was lower than buying in 20 large metropolitan areas at the end of last year, the most recent period for which data are available, according to figures provided exclusively to The Wall Street Journal by Deutsche Bank. That is up from 15 large metropolitan areas a year earlier.”

The challenge is that more recent data from two very reliable sources has shown that not to be the case. Among the 35 largest metro areas analyzed by Zillow in the first quarter, every metro showed it would be cheaper to buy than rent if you plan to live in the home for at least 4.2 years.

According to a study by Trulia:

“Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally.” (emphasis added)

Renters Don’t Have All the Expenses of Homeowners

The article goes on to explain that as a renter you have many less expenses than you would have as a homeowner:

"Renters, for example, don't pay property taxes, homeowner's insurance and, in most cases, maintenance costs. These expenses can cost homeowners about 3% of the price of their home annually, experts say.

While those costs can be folded into monthly rent, apartment renters often pay a smaller share as landlords spread the costs among many tenants, says Stijn Van Nieuwerburgh, director of the Center for Real Estate Finance Research at New York University. If a window breaks or the toilet plugs up, your landlord—not you—pays for the repairs."

Don’t kid yourself – the landlord does not pay the taxes nor pay for repairs. The tenant does. It is incorporated in the rent. It is true, if it is an apartment building, that the property taxes are shared by all tenants. However, realize that the amount of property taxes for an apartment building with “many tenants” will be far greater than a single family residence.

We think this situation is best explained by Eric Belsky, Managing Director of the Joint Center of Housing Studies at Harvard University, in his paper on homeownership - The Dream Lives On: the Future of Homeownership in America:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” (emphasis is mine)

Investing the Difference in Payments Will Net a Renter More Money

The WSJ article claims that, if a renter invests the difference between their rent payment and a potential mortgage payment had they purchased, they would be better off financially in the long run.

"Renters don't end up with a valuable asset, as buyers do when they pay off a mortgage. But renters might be able to make more money by investing the monthly savings, as well as the cash they would otherwise use for a down payment, he says."

They go on to explain their reasoning as follows:

"The value of the average single-family home increased by 3.6% a year in the three decades through 2013, compounded annually, according to mortgage giant Freddie Mac. By contrast, the compound annual return on the S&P 500 over that period was 11.1%, according to Chicago-based investment-research firm Morningstar."

As to the idea that the return on investment would be greater by investing in the stock market rather than purchase a home, I think the article in the WSJ forgot that housing is a leveraged investment. Belsky, in his paper, explains:

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.” 

That 3.6% average annual appreciation is really an 18% return on cash to a home buyer putting down 20%.

They also assume the renter will save any difference in housing expense. However, that does not happen in reality. In their ongoing research for their paper, Beer and Cookies Impact on Homeowners’ Wealth Accumulation, Eli Beracha and Ken H. Johnson reveal that homeownership creates a ‘forced savings’ plan:

“It appears that homeownership creates extra wealth mainly through its ability to force owners to save rather than through property appreciation. Thus, homeownership appears to be a self-imposed savings plan, which through time leads to greater wealth accumulation as compared to comparable renters. In short, buying a home makes Americans save.”

And Belsky from Harvard agrees:

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

To further make this point, we can look at a study by the Federal Reserve which showed that the net worth of a homeowner ($174,500) is 30 times greater than that of renter ($5,100).

Bottom Line

Looking at financial advantages of homeownership from every angle still reveals that it is a much better investment than renting.
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    [content_type] => blog
    [contents] => (English) Today's post is written by Steve Harney of Keeping Current Matters.smug

I have been a subscriber to the Wall Street Journal (WSJ) for as long as I can remember. In my opinion, it is the single greatest source of financial information and insights available. I don’t always agree with their analysis but I always respect their position.

However, in an article this past weekend, The New Math of Renting vs. Buying, they flat out got it wrong. Below are a few excerpts from the article and the reason why I believe the analysis to be incorrect.

The Cost of Renting is Lower than the Cost of Owning

In the article, they discuss that homeownership is more expensive than renting in many large metropolitan areas.

"The monthly cost of renting was lower than buying in 20 large metropolitan areas at the end of last year, the most recent period for which data are available, according to figures provided exclusively to The Wall Street Journal by Deutsche Bank. That is up from 15 large metropolitan areas a year earlier.”

The challenge is that more recent data from two very reliable sources has shown that not to be the case. Among the 35 largest metro areas analyzed by Zillow in the first quarter, every metro showed it would be cheaper to buy than rent if you plan to live in the home for at least 4.2 years.

According to a study by Trulia:

“Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. Rising mortgage rates and home prices have narrowed the gap over the past year, though rates have recently dropped and price gains are slowing. Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally.” (emphasis added)

Renters Don’t Have All the Expenses of Homeowners

The article goes on to explain that as a renter you have many less expenses than you would have as a homeowner:

"Renters, for example, don't pay property taxes, homeowner's insurance and, in most cases, maintenance costs. These expenses can cost homeowners about 3% of the price of their home annually, experts say.

While those costs can be folded into monthly rent, apartment renters often pay a smaller share as landlords spread the costs among many tenants, says Stijn Van Nieuwerburgh, director of the Center for Real Estate Finance Research at New York University. If a window breaks or the toilet plugs up, your landlord—not you—pays for the repairs."

Don’t kid yourself – the landlord does not pay the taxes nor pay for repairs. The tenant does. It is incorporated in the rent. It is true, if it is an apartment building, that the property taxes are shared by all tenants. However, realize that the amount of property taxes for an apartment building with “many tenants” will be far greater than a single family residence.

We think this situation is best explained by Eric Belsky, Managing Director of the Joint Center of Housing Studies at Harvard University, in his paper on homeownership - The Dream Lives On: the Future of Homeownership in America:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” (emphasis is mine)

Investing the Difference in Payments Will Net a Renter More Money

The WSJ article claims that, if a renter invests the difference between their rent payment and a potential mortgage payment had they purchased, they would be better off financially in the long run.

"Renters don't end up with a valuable asset, as buyers do when they pay off a mortgage. But renters might be able to make more money by investing the monthly savings, as well as the cash they would otherwise use for a down payment, he says."

They go on to explain their reasoning as follows:

"The value of the average single-family home increased by 3.6% a year in the three decades through 2013, compounded annually, according to mortgage giant Freddie Mac. By contrast, the compound annual return on the S&P 500 over that period was 11.1%, according to Chicago-based investment-research firm Morningstar."

As to the idea that the return on investment would be greater by investing in the stock market rather than purchase a home, I think the article in the WSJ forgot that housing is a leveraged investment. Belsky, in his paper, explains:

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the money. As a result, homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a hefty 20 percent down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5 percent return on their equity. With many buyers putting 10 percent or less down, their leverage factor is 10 or more.” 

That 3.6% average annual appreciation is really an 18% return on cash to a home buyer putting down 20%.

They also assume the renter will save any difference in housing expense. However, that does not happen in reality. In their ongoing research for their paper, Beer and Cookies Impact on Homeowners’ Wealth Accumulation, Eli Beracha and Ken H. Johnson reveal that homeownership creates a ‘forced savings’ plan:

“It appears that homeownership creates extra wealth mainly through its ability to force owners to save rather than through property appreciation. Thus, homeownership appears to be a self-imposed savings plan, which through time leads to greater wealth accumulation as compared to comparable renters. In short, buying a home makes Americans save.”

And Belsky from Harvard agrees:

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

To further make this point, we can look at a study by the Federal Reserve which showed that the net worth of a homeowner ($174,500) is 30 times greater than that of renter ($5,100).

Bottom Line

Looking at financial advantages of homeownership from every angle still reveals that it is a much better investment than renting.
    [created_at] => 2014-05-06T06:00:55Z
    [description] => (English) Today's post is written by Steve Harney of Keeping Current Matters.

I have been a subscriber to the Wall Street Journal (WSJ) for as long as I can remember. In my opinion, it is the single greatest source of financial information and ins...
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    [title] => (English) Homeownership: This Time the Wall Street Journal Got it Wrong
    [updated_at] => 2014-05-06T14:26:33Z
    [url] => /es/2014/05/06/homeownership-this-time-the-wall-street-journal-got-it-wrong/
)

(English) Homeownership: This Time the Wall Street Journal Got it Wrong

(English) Today's post is written by Steve Harney of Keeping Current Matters. I have been a subscriber to the Wall Street Journal (WSJ) for as long as I can remember. In my opinion, it is the single greatest source of financial information and ins...
1226
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    [agents_bottom_line] => We are excited to have Nikki Buckelew back as our guest blogger for today. Nikki  is considered a leading authority on seniors real estate and housing.

Mature Couple at ParkSomeone said to me recently, “Sixty-five is the new forty-five.” We chuckled, but the more I thought about it, the more I found myself in full agreement.

With more and more people working beyond traditional retirement age and the advances in modern medicine, the lines between middle and late adulthood are becoming a bit blurred.

What makes this relevant in the world of real estate?

As our population ages, we will see more and more organizations dedicating their marketing efforts toward the “senior” demographic. You have read previous KCM blogs about the various designations agents can earn for this specific purpose, and undoubtedly you have already seen real estate professionals in your market professing to “specialize”.

Reality check — not all seniors are the same.

Just as with using any label, we run the risk of putting people into a category when they may or may not actually belong there. This is especially true of the senior segment.

Despite the label of “senior,” there are 3 distinct types of moves you may encounter as a real estate professional —  all three involve seniors, but they aren’t based necessarily on age. You see, age is not a good predictor of relocation. Instead, people generally make changes in residence based on life circumstances.

Listed below are the three primary types of moves made by those labeled as seniors:

Move #1: Amenity-based

These individuals and/or couples are seeking a certain type of lifestyle and their home is only one component of a much larger picture. When looking to sell, they are usually transferring their equity from one home to the next and can usually either pay cash or put a significant down payment towards their purchase. Depending upon employment status, they may be moving across the country for more appealing climates or seeking a place near an airport making it easier to commute. Some are moving closer to kids and grandkids, while others are moving to destination locations where the family can enjoy visiting.

Social engagement, including quality family and friend connectedness, are key decision-making elements.

Move #2:  Anticipatory / Planning

As people age, they may begin to experience changes in personal health status or become the caregiver of a spouse requiring additional care. When this occurs, people may find their current home unmanageable or no longer suited for their current situation. Moving means simplifying and making preparations for future care needs and support. With this type of move, seniors are typically looking to either buy or lease a property with minimal maintenance, accessibility features, and in close proximity to quality healthcare. Family members and adult children may be called upon at this stage to assist, and will often have some influence in the relocation process.

Access to formal and informal support, as well as low maintenance and accessibility features, are primary decision-making factors. 

Move #3: Needs-based

While most people intend to live independently until they die, unfortunately, this reality isn’t always possible. As health declines to the point where more support is needed than can be provided for within the person’s home and community, relocation is necessary. This move may involve selling the personal residence and relocating to a senior living community or into the home of a family member. In many cases, needs-based moves involve caregivers and/or family members as additional decision makers. Late-life moves involving frail elderly or those experiencing illnesses or disease processes can be highly emotionally charged and necessitate a level of empathy in addition to real estate competency.

Timing, health status, and caregiver support are keys to decision-making.

As you can see from these various different types of moves, not all seniors share the same housing needs and goals. And while specializing in the 55+ housing market appeals to many, there are actually many sub-niche opportunities within the senior segment worth exploring.

Regardless of whether you choose to make working with mature home buyers and sellers a part of your overall business plan, with at least 1 in 4 home sellers over the age of 65, there is little doubt you will work with older adults in the course of your general real estate practice.  When encountering these opportunities, it will serve you well to consider the three types of moves listed here and evaluate your value proposition accordingly, so that you can be the very best agent possible for your mature clients.
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    [content_type] => blog
    [contents] => We are excited to have Nikki Buckelew back as our guest blogger for today. Nikki  is considered a leading authority on seniors real estate and housing.

Mature Couple at ParkSomeone said to me recently, “Sixty-five is the new forty-five.” We chuckled, but the more I thought about it, the more I found myself in full agreement.

With more and more people working beyond traditional retirement age and the advances in modern medicine, the lines between middle and late adulthood are becoming a bit blurred.

What makes this relevant in the world of real estate?

As our population ages, we will see more and more organizations dedicating their marketing efforts toward the “senior” demographic. You have read previous KCM blogs about the various designations agents can earn for this specific purpose, and undoubtedly you have already seen real estate professionals in your market professing to “specialize”.

Reality check — not all seniors are the same.

Just as with using any label, we run the risk of putting people into a category when they may or may not actually belong there. This is especially true of the senior segment.

Despite the label of “senior,” there are 3 distinct types of moves you may encounter as a real estate professional —  all three involve seniors, but they aren’t based necessarily on age. You see, age is not a good predictor of relocation. Instead, people generally make changes in residence based on life circumstances.

Listed below are the three primary types of moves made by those labeled as seniors:

Move #1: Amenity-based

These individuals and/or couples are seeking a certain type of lifestyle and their home is only one component of a much larger picture. When looking to sell, they are usually transferring their equity from one home to the next and can usually either pay cash or put a significant down payment towards their purchase. Depending upon employment status, they may be moving across the country for more appealing climates or seeking a place near an airport making it easier to commute. Some are moving closer to kids and grandkids, while others are moving to destination locations where the family can enjoy visiting.

Social engagement, including quality family and friend connectedness, are key decision-making elements.

Move #2:  Anticipatory / Planning

As people age, they may begin to experience changes in personal health status or become the caregiver of a spouse requiring additional care. When this occurs, people may find their current home unmanageable or no longer suited for their current situation. Moving means simplifying and making preparations for future care needs and support. With this type of move, seniors are typically looking to either buy or lease a property with minimal maintenance, accessibility features, and in close proximity to quality healthcare. Family members and adult children may be called upon at this stage to assist, and will often have some influence in the relocation process.

Access to formal and informal support, as well as low maintenance and accessibility features, are primary decision-making factors. 

Move #3: Needs-based

While most people intend to live independently until they die, unfortunately, this reality isn’t always possible. As health declines to the point where more support is needed than can be provided for within the person’s home and community, relocation is necessary. This move may involve selling the personal residence and relocating to a senior living community or into the home of a family member. In many cases, needs-based moves involve caregivers and/or family members as additional decision makers. Late-life moves involving frail elderly or those experiencing illnesses or disease processes can be highly emotionally charged and necessitate a level of empathy in addition to real estate competency.

Timing, health status, and caregiver support are keys to decision-making.

As you can see from these various different types of moves, not all seniors share the same housing needs and goals. And while specializing in the 55+ housing market appeals to many, there are actually many sub-niche opportunities within the senior segment worth exploring.

Regardless of whether you choose to make working with mature home buyers and sellers a part of your overall business plan, with at least 1 in 4 home sellers over the age of 65, there is little doubt you will work with older adults in the course of your general real estate practice.  When encountering these opportunities, it will serve you well to consider the three types of moves listed here and evaluate your value proposition accordingly, so that you can be the very best agent possible for your mature clients.
    [created_at] => 2014-05-01T15:37:45Z
    [description] => We are excited to have Nikki Buckelew back as our guest blogger for today. Nikki  is considered a leading authority on seniors real estate and housing.

Someone said to me recently, “Sixty-five is the new forty-five.” We chuckled, but the more I th...
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    [title] => (English) Rethinking the 55+ Market
    [updated_at] => 2015-10-05T16:20:48Z
    [url] => /es/2014/05/01/rethinking-the-55-market/
)

(English) Rethinking the 55+ Market

We are excited to have Nikki Buckelew back as our guest blogger for today. Nikki is considered a leading authority on seniors real estate and housing. Someone said to me recently, “Sixty-five is the new forty-five.” We chuckled, but the more I th...
1226
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    [agents_bottom_line] => (English) 4.30 VisualIn a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. 

Shiller first commented that he believes 

"There is a certain, substantial amount of momentum in the housing market—much more so than the stock market."

He then went on to make the point more personal when he revealed:

"My son just bought a house. I told him, 'Fine’."

Why was Shiller so comfortable about his son’s purchase? As he explained:

"The futures market at the CME is predicting something like 25 percent higher home prices in 2018."

The ‘guru’ of home prices just proclaimed that this was a good time for his own family to purchase a home.

That begs the question: Are you advising your adult children that now may be the perfect time to buy?
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    [content_type] => blog
    [contents] => (English) 4.30 VisualIn a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. 

Shiller first commented that he believes 

"There is a certain, substantial amount of momentum in the housing market—much more so than the stock market."

He then went on to make the point more personal when he revealed:

"My son just bought a house. I told him, 'Fine’."

Why was Shiller so comfortable about his son’s purchase? As he explained:

"The futures market at the CME is predicting something like 25 percent higher home prices in 2018."

The ‘guru’ of home prices just proclaimed that this was a good time for his own family to purchase a home.

That begs the question: Are you advising your adult children that now may be the perfect time to buy?
    [created_at] => 2014-04-30T06:00:28Z
    [description] => (English) In a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. 

Shiller first commented that he believes...
    [expired_at] => 
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    [published_at] => 2014-04-30T10:00:28Z
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    [slug] => shiller-fine-with-his-son-buying-a-home
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        )

    [title] => (English) Shiller ‘FINE’ with his Son Buying a Home
    [updated_at] => 2014-04-28T22:12:28Z
    [url] => /es/2014/04/30/shiller-fine-with-his-son-buying-a-home/
)

(English) Shiller ‘FINE’ with his Son Buying a Home

(English) In a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. Shiller first commented that he believes...
1226
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    [agents_bottom_line] => (English) 4.29 VisualIn a recent blog post, FreddieMac explained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position:

    
	
  1. Home sales are up 13% since their low point.
    2. 
	
  2. Housing starts are up 50% since they bottomed out.
    3. 
	
  3. House Prices are up 16% since their trough.
    4. 



Projections Going Forward

FreddieMac also believes that the market will continue to improve through 2014. They projected:

    
	
  1. Home sales to increase about 3% in 2014 as the purchase market continues to evolve
    2. 
	
  2. Almost 20% growth for housing starts in 2014, which will begin to help ease tight inventories in many markets
    3. 
	
  3. Home value increases will continue their positive momentum in 2014
    4. 


Frank Nothaft, Freddie Mac vice president and chief economist, further explained what the housing market may look like in the agency’s April 2014 U.S. Economic and Housing Market Outlook:

"Tight inventory may pose a significant challenge for home buyers in many markets across the country, which may result in higher home prices and sales being lower than expected. This is good news for those markets that have room to run on the house price appreciation front, but it's also going to increase the affordability pinch in many markets, especially along the country's east and west coasts. Two indicators that are supporting local housing activity are rising consumer confidence and declining unemployment rates."

Bottom Line

The real estate market is improving every day. The biggest challenge is a lack of inventory in many markets. If you are thinking about selling, now may be the time to make the move.
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    [contents] => (English) 4.29 VisualIn a recent blog post, FreddieMac explained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position:

    
	
  1. Home sales are up 13% since their low point.
    2. 
	
  2. Housing starts are up 50% since they bottomed out.
    3. 
	
  3. House Prices are up 16% since their trough.
    4. 



Projections Going Forward

FreddieMac also believes that the market will continue to improve through 2014. They projected:

    
	
  1. Home sales to increase about 3% in 2014 as the purchase market continues to evolve
    2. 
	
  2. Almost 20% growth for housing starts in 2014, which will begin to help ease tight inventories in many markets
    3. 
	
  3. Home value increases will continue their positive momentum in 2014
    4. 


Frank Nothaft, Freddie Mac vice president and chief economist, further explained what the housing market may look like in the agency’s April 2014 U.S. Economic and Housing Market Outlook:

"Tight inventory may pose a significant challenge for home buyers in many markets across the country, which may result in higher home prices and sales being lower than expected. This is good news for those markets that have room to run on the house price appreciation front, but it's also going to increase the affordability pinch in many markets, especially along the country's east and west coasts. Two indicators that are supporting local housing activity are rising consumer confidence and declining unemployment rates."

Bottom Line

The real estate market is improving every day. The biggest challenge is a lack of inventory in many markets. If you are thinking about selling, now may be the time to make the move.
    [created_at] => 2014-04-29T06:00:23Z
    [description] => (English) In a recent blog post, FreddieMac explained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position:

	Home sales are up 13% sinc...
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    [published_at] => 2014-04-29T10:00:23Z
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    [title] => (English) FreddieMac: Housing is Stronger Today
    [updated_at] => 2014-04-29T14:09:29Z
    [url] => /es/2014/04/29/freddiemac-housing-is-stronger-today-2/
)

(English) FreddieMac: Housing is Stronger Today

(English) In a recent blog post, FreddieMac explained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position: Home sales are up 13% sinc...
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    [agents_bottom_line] => (English) Hispanic Father and Son in Front of Their New Home with Sold Home For Sale Real Estate Sign.This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formation rates of Hispanics as well as their educational achievements, entrepreneurial endeavors, labor force profile, and purchasing power in the United States”.

This report is full of great information and you should download it and read all 35 pages. In this blog post, I will mention a few facts that, in my opinion, are relevant to all of us:

Household formation

    
	
  • Since 2010, Hispanics have accounted for a net increase of 559,000 owner households, representing 56 percent of the total net growth of owner households in the U.S.
    • 
	
  • The number of Hispanic households has grown from 9.2 million in 2000 to 14.7 million in 2013, an increase of 5.5 million, representing a growth rate of 60 percent. 
    • 
	
  • Four out of 10 new households between 2010 and 2020 are expected to be Hispanic. 
    • 
	
  • By the end of the decade, Hispanics alone will account for approximately five million net new households, out of an estimated 12 to 14 million net new households in the country.
    • 


Hispanic Millennials

    
	
  • The median age of the Hispanic population is 27 years old, which is ten years younger than the median age of the overall U.S. population. 
    • 
	
  • Hispanics are heavily represented in the 26 to 46 year age range.
    • 
	
  • A Hispanic youth turns 18 every minute of every day. 
    • 


Income

    
	
  • Hispanics with incomes between $50,000 and $100,000 represent 29 percent of all Hispanic households and comprise nearly 40 percent of Hispanic purchasing power. 
    • 
	
  • Three out of every four prosperous Hispanics are under the age of 45 and own a home. 
    • 
	
  • Twenty-two percent of all Hispanic households earn more than $75,000 annually.
    • 
	
  • The number of Hispanic-owned businesses in the U.S. nearly doubled from more than a decade ago, growing from 1.7 million in 2002 to an estimated 3.2 million in 2013. 
    • 
	
  • Latina entrepreneurs are launching businesses at a rate SIX TIMES the national average. 
    • 
	
  • Hispanic businesses contribute in excess of $465 billion to the nation’s economy annually and employ more than two million workers. 
    • 
	
  • Latinos now own one out of every 20 businesses in the U.S., while Latinas own 10 percent of all women-owned businesses.
    • 


The Hispanic community is becoming a major player in the housing market.
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    [content_type] => blog
    [contents] => (English) Hispanic Father and Son in Front of Their New Home with Sold Home For Sale Real Estate Sign.This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formation rates of Hispanics as well as their educational achievements, entrepreneurial endeavors, labor force profile, and purchasing power in the United States”.

This report is full of great information and you should download it and read all 35 pages. In this blog post, I will mention a few facts that, in my opinion, are relevant to all of us:

Household formation

    
	
  • Since 2010, Hispanics have accounted for a net increase of 559,000 owner households, representing 56 percent of the total net growth of owner households in the U.S.
    • 
	
  • The number of Hispanic households has grown from 9.2 million in 2000 to 14.7 million in 2013, an increase of 5.5 million, representing a growth rate of 60 percent. 
    • 
	
  • Four out of 10 new households between 2010 and 2020 are expected to be Hispanic. 
    • 
	
  • By the end of the decade, Hispanics alone will account for approximately five million net new households, out of an estimated 12 to 14 million net new households in the country.
    • 


Hispanic Millennials

    
	
  • The median age of the Hispanic population is 27 years old, which is ten years younger than the median age of the overall U.S. population. 
    • 
	
  • Hispanics are heavily represented in the 26 to 46 year age range.
    • 
	
  • A Hispanic youth turns 18 every minute of every day. 
    • 


Income

    
	
  • Hispanics with incomes between $50,000 and $100,000 represent 29 percent of all Hispanic households and comprise nearly 40 percent of Hispanic purchasing power. 
    • 
	
  • Three out of every four prosperous Hispanics are under the age of 45 and own a home. 
    • 
	
  • Twenty-two percent of all Hispanic households earn more than $75,000 annually.
    • 
	
  • The number of Hispanic-owned businesses in the U.S. nearly doubled from more than a decade ago, growing from 1.7 million in 2002 to an estimated 3.2 million in 2013. 
    • 
	
  • Latina entrepreneurs are launching businesses at a rate SIX TIMES the national average. 
    • 
	
  • Hispanic businesses contribute in excess of $465 billion to the nation’s economy annually and employ more than two million workers. 
    • 
	
  • Latinos now own one out of every 20 businesses in the U.S., while Latinas own 10 percent of all women-owned businesses.
    • 


The Hispanic community is becoming a major player in the housing market.
    [created_at] => 2014-04-24T07:00:37Z
    [description] => (English) This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formati...
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    [title] => (English) The State of Hispanic Homeownership
    [updated_at] => 2014-06-12T20:45:30Z
    [url] => /es/2014/04/24/the-state-of-hispanic-homeownership/
)

(English) The State of Hispanic Homeownership

(English) This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formati...