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10 questions with top producer Sonnie Laviolette

Fri, 2017-02-03 03:15

As part of her 10 Questions podcast series, F.C. Tucker broker Angela Raab sits down with her colleague and top-producing agent, Sonnie Laviolette, to ask Laviolette 10 questions about building a business and career in real estate ...

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Germany takes UK's commercial real-estate crown - MarketWatch

Fri, 2017-02-03 03:02


Germany takes UK's commercial real-estate crown
MarketWatch
In the years following the 2008 financial crisis, investors turned to real estate in a hunt for yield amid ultralow interest rates. The primary targets were properties in the biggest European markets--the U.K., Germany and France--and standard ...

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Categories: Europe

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Germany takes U.K.'s commercial real-estate crown - MarketWatch - MarketWatch

Fri, 2017-02-03 03:02


Germany takes U.K.'s commercial real-estate crown - MarketWatch
MarketWatch
Germany has unseated the U.K. as the most active commercial real-estate market in Europe, reflecting greater caution toward Britain after it voted to leave the ...

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Categories: Europe

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Daily market update: February 3, 2017

Fri, 2017-02-03 03:00

Mortgage rates plus all the latest real estate market news ...

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Top Dallas team sees window for new boutique luxury brokerage

Thu, 2017-02-02 18:00

Briggs Freeman Sotheby's International Realty's top-selling team, led by Christy Berry and Jonathan Rosen of the RosenBerry Group, left the business to set up their own boutique luxury brokerage for the Dallas-Fort Worth market last Friday ...

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Chinese project will add to Houston's skyline - Chinadaily USA

Thu, 2017-02-02 17:41


Chinadaily USA

Chinese project will add to Houston's skyline
Chinadaily USA
The $500 million real estate project of Tianqing Real Estate Development LLC (Tianqing RED) and DC Partners has attracted an upscale anchor. Thompson Hotels recently signed an agreement with the two companies to build Thompson Houston on their ...

Categories: USA

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Irving's $180 million Music Factory is more than half built - Dallas News (blog)

Thu, 2017-02-02 16:15


Dallas News (blog)

Irving's $180 million Music Factory is more than half built
Dallas News (blog)
Irving's new Music Factory entertainment and retail venue is scheduled to open before the end of the year. Hundreds of construction workers are rushing to finish the $180 million project. Located on the northeast side of State Highway 114 in Las ...

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Categories: USA

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No Stopping: Just a Few Years In, Career-Changing Broker Barrels toward 1,000 Sales

Thu, 2017-02-02 16:06

In the following interview, Robert Slack, broker/owner of Robert Slack Fine Homes in Ocala, Fla., discusses his journey from broke used car salesman to booming real estate broker, with a boost from online leads.

Region Served: Florida
Number of Offices: 1
Number of Agents: 56

You’ve been in real estate now for five years at a point in your life when some may consider retiring. How did you know this would be the right move for you?
I was broke and selling used cars at 65, so I decided to get my real estate license. I was a single agent for a year, got some traction with online leads, and in 2014, I started a brokerage with four other newly licensed agents. Now, at 70, I’m doing well. I have 56 agents, all of whom are full-time. We all work remotely, we run a completely paperless operation (there’s no file cabinet in our office), and we’re even considering opening a satellite office in Ft. Lauderdale.

How many transactions does your brokerage do each year?
I did 500-600 transactions in 2016. For 2017, I project to be doing between 1,400 and 1,600 transactions.

How did you ramp up to this level of volume?
We handle a lot of leads. Once a lead comes in, it’s distributed to our agents by zip code and/or price. We then have an auto text response that goes right back out to the potential buyer, with the specific agent’s info included. Not only are we open 16 hours a day, but we also have a concierge service in the office that operates from 7:30 a.m. to 11 p.m. daily. And, we make sure to call every lead within a minute in order to set up an appointment for the agent.

What other traditional farming/prospecting methods are you using?
We work exclusively with online leads. Breaking this down even further, we work 95 percent with buyers, 5 percent with sellers, and realtor.com® is by far our largest lead source.

For a broker or team just starting out, what’s your recommendation on re-investing and growth?
For me, online leads are the only way to go. Otherwise, it’s very hard to get any traction. In terms of growth, it’s harder to go from four to five agents than from 40 to 50. I run agent ads on Indeed.com and promise all new agents that they’ll get 30-40 realtor.com leads per month. The agents who’ve been the best recruits for us are the ones who aren’t yet successful. Not only are they starving for leads, but they work hard, and they really appreciate what we send them. We’ve gone from four agents in 2014 to 56 in 2016, and by the end of 2017, we plan to have about 100 agents. We have very little turnover; in fact, the only agents we lose are the ones we want to lose.

You recently made a change to realtor.com. Are the results similar for the investment you’re making?
Until September 2015, I was growing rapidly with Zillow. When they merged with Trulia, we suddenly found that one-third of our spend was going to Trulia leads, which, for whatever reason, were extremely ineffective in Florida. Our ROI took a huge hit, so I began switching my spend to realtor.com and got immediate action. The benefit of realtor.com is huge. I’m closing twice as many transactions with the same amount of spend. It’s a no-brainer.

Overall, what’s it like to work with the team at realtor.com®?
It’s been very good; they’re very hard-working people. I speak to my rep anywhere from four to five times a week, even on Saturdays, which, for a company like that, is amazing. If I ever have an issue, they’re very quick to respond to it.

For more information, please visit www.realtor.com.

Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post No Stopping: Just a Few Years In, Career-Changing Broker Barrels toward 1,000 Sales appeared first on RISMedia.

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NAR: Disconnect Between Homebuyer Aspirations and Realities

Thu, 2017-02-02 16:05

Eight out of 10 non-homeowners recently surveyed by the National Association of REALTORS® (NAR) identify owning a home as part of the American Dream. Their realities—limited affordable housing, perceived lack of a down payment, and student debt—are hampering those aspirations.

NAR’s Aspiring Home Buyer Profile, which analyzes 2016 data from its Housing Opportunities and Market Experience (HOME) survey, shows that despite the sentiment among non-homeowners leaning positive, the share of non-homeowners who believe it is a good time to buy a home steadily declined throughout the year, from 63 percent in the first quarter to 55 percent in the fourth quarter.

“Nearly all non-homeowners said they want to own a home in the future (87 percent), but it’s evident that higher rents and home prices—up 41 percent in the past five years—along with limited entry-level supply and repaying student debt have combined to make buying a challenging goal,” says Lawrence Yun, NAR’s chief economist.

The majority of non-homeowners have not bought a home because they said they are unable to afford it, according to the analysis; 59 percent of non-homeowners with student debt, as well, said they are not comfortable taking on a mortgage.

“In addition to having to postpone important milestones such as getting married and starting a family, many young adults are financially falling behind previous generations in part because of having to prioritize repaying their sizeable student loans over buying a home and saving for retirement,” Yun says.

Eighty-seven percent of non-homeowners, in addition, said they need a down payment of 10 percent or more—a potentially misinformed perception, says NAR President Bill Brown.

“Current non-owners’ ultimate goal of owning a home may not be as far-fetched as they believe,” Brown says. “There are mortgage options available for creditworthy borrowers with manageable levels of debt and smaller down payments. Those interested in buying their first home in 2017 should review their finances, sit down with a lender to see if they qualify for a mortgage and find a REALTOR® to help them get started on their home search.”

For more information, please visit www.nar.realtor.

For the latest real estate news and trends, bookmark RISMedia.com.

The post NAR: Disconnect Between Homebuyer Aspirations and Realities appeared first on RISMedia.

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It’s Good to Be a Seller: Sales See Highest Profits Since 2007

Thu, 2017-02-02 16:04

It’s a good time to be a seller.

Home sellers in 2016 saw the highest profits since 2007, averaging a 21 percent gain, or $38,206, according to ATTOM Data Solutions’ Year-End 2016 U.S. Home Sales Report. Sellers in San Jose and San Francisco, Calif. saw the highest gain, at 69 percent, as well as those in Santa Rosa, Calif., at 52 percent, Los Angeles, Calif., at 49 percent, and Seattle, Wash., at 48 percent.

Forty-four percent of housing markets reached all-time price peaks in 2016, according to the report, including Dallas-Fort Worth, Texas ($230,571), Houston, Texas ($214,795) and Atlanta, Ga. ($181,000). The median home price in 2016 was $218,175, a 6.8 percent increase from 2015 and a 45 percent increase from the 2011 low. The highest median home prices were in New York County ($1.4 million), San Francisco County ($1.175 million) and San Mateo County ($1.075 million).

The share of distressed sales—bank-owned (REO) sales, foreclosure auction sales (“sheriff’s” or “trustee’s”) and short sales—in 2016 tumbled to 16.2 percent from 18.8 percent in 2015, a nine-year low. Atlantic City, N.J. saw the most distressed sales at 43.8 percent, followed by Hagerstown-Martinsburg, Md.-W.Va. at 33.2 percent and Rockford, Ill. at 29.2 percent. More foreclosure auctions were sold to third-party buyers in 2016, comprising 28.5 percent of all completed auctions.

“The housing market hit several important milestones in 2016, with distressed sales at a nine-year low and home prices at a 10-year high, just barely below the pre-recession peak in 2006,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “This was all good news for home sellers, who realized their biggest average profits since purchase nationwide in 2016. Even distressed property sellers are benefitting from this hot seller’s market, with a record-high share of homes at foreclosure auction being purchased by third-party buyers, rather than reverting back to the foreclosing bank.”

View the full report here.

For the latest real estate news and trends, bookmark RISMedia.com.

The post It’s Good to Be a Seller: Sales See Highest Profits Since 2007 appeared first on RISMedia.

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It’s Good to Be a Seller: Sales Sees Highest Profits Since 2007

Thu, 2017-02-02 16:04

It’s a good time to be a seller.

Home sellers in 2016 saw the highest profits since 2007, averaging a 21 percent gain, or $38,206, according to ATTOM Data Solutions’ Year-End 2016 U.S. Home Sales Report. Sellers in San Jose and San Francisco, Calif. saw the highest gain, at 69 percent, as well as those in Santa Rosa, Calif., at 52 percent, Los Angeles, Calif., at 49 percent, and Seattle, Wash., at 48 percent.

Forty-four percent of housing markets reached all-time price peaks in 2016, according to the report, including Dallas-Fort Worth, Texas ($230,571), Houston, Texas ($214,795) and Atlanta, Ga. ($181,000). The median home price in 2016 was $218,175, a 6.8 percent increase from 2015 and a 45 percent increase from the 2011 low. The highest median home prices were in New York County ($1.4 million), San Francisco County ($1.175 million) and San Mateo County ($1.075 million).

The share of distressed sales—bank-owned (REO) sales, foreclosure auction sales (“sheriff’s” or “trustee’s”) and short sales—in 2016 tumbled to 16.2 percent from 18.8 percent in 2015, a nine-year low. Atlantic City, N.J. saw the most distressed sales at 43.8 percent, followed by Hagerstown-Martinsburg, Md.-W.Va. at 33.2 percent and Rockford, Ill. at 29.2 percent. More foreclosure auctions were sold to third-party buyers in 2016, comprising 28.5 percent of all completed auctions.

“The housing market hit several important milestones in 2016, with distressed sales at a nine-year low and home prices at a 10-year high, just barely below the pre-recession peak in 2006,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “This was all good news for home sellers, who realized their biggest average profits since purchase nationwide in 2016. Even distressed property sellers are benefitting from this hot seller’s market, with a record-high share of homes at foreclosure auction being purchased by third-party buyers, rather than reverting back to the foreclosing bank.”

View the full report here.

For the latest real estate news and trends, bookmark RISMedia.com.

The post It’s Good to Be a Seller: Sales Sees Highest Profits Since 2007 appeared first on RISMedia.

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Mortgage Rates Mirror Fed Decision

Thu, 2017-02-02 16:03

Mortgage rates on average remained unchanged this week, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®), mirroring the Federal Reserve’s decision on Wednesday to keep the key interest rate unchanged.

“The 10-year Treasury yield fell five basis points this week following a tepid advance estimate of fourth quarter GDP and the Fed’s decision to leave rates unchanged,” says Sean Becketti, Freddie Mac’s chief economist.

The 30-year fixed-rate mortgage, according to Freddie Mac’s survey, averages 4.19 percent with an average 0.5 point; the 15-year fixed-rate mortgage averages 3.41 percent with an average 0.5 point; the 5-year Treasury-indexed hybrid adjustable-rate mortgage averages 3.23 percent with an average 0.4 point.

“The 30-year mortgage rate remained flat at 4.19 percent, starting the month 47 basis points higher than this time last year,” Becketti says. “Despite the uncertainty in the market, the Pending Home Sales Index increased 1.6 percent in December, up from a decline of 2.5 percent the month prior.”

For more information, please visit www.freddiemac.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Mortgage Rates Mirror Fed Decision appeared first on RISMedia.

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How I fell in love with real estate: A ‘Coming to America’ story

Thu, 2017-02-02 14:26

Fredrik Eklund didn't always know he was going to be a million-dollar listing agent -- hear his story about how he found his calling when he came to America ...

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Inman Demo Day Webinar: Using Homesnap Facebook ads to build your business

Thu, 2017-02-02 14:18

In this webinar, you will learn the secrets of effective Facebook advertising and how Homesnap works to make it easy ...

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Zestimate vs. Redfin Estimate: Are home valuations that use list prices, er, useful?

Thu, 2017-02-02 14:00

What type of listing valuation would be more useful? One that factors in the property's actual list price, or one that excludes that price -- instead relying only on comparable sales and other data ...

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Hotel Real Estate: 2017 Best Hotels Rankings - Live Trading News

Thu, 2017-02-02 13:37


Hotel Real Estate: 2017 Best Hotels Rankings
Live Trading News
U.S. News & World Report, the global authority in rankings and consumer advice, today announced the 2017 Best Hotels. The rankings evaluate more than 3,000 luxury hotels across the USA, the Caribbean (now including Havana, Cuba), Canada and ...

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Categories: USA

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US and European stocks struggle for traction - Financial Times

Thu, 2017-02-02 13:29


Financial Times

US and European stocks struggle for traction
Financial Times
The mood was more downbeat in Europe, where the pan-regional Stoxx 600 index and the Xetra Dax in Frankfurt both shed 0.3 per cent — although sterling's retreat helped the FTSE 100 in London rise 0.5 per cent. Asian bourses weakened as the session ...

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Categories: Europe

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Is Europe Headed for a “Lexit”? - Fair Observer

Thu, 2017-02-02 13:11


Is Europe Headed for a “Lexit”?
Fair Observer
For leftist critics of the EU, reform looks unlikely—but aligning with right-wing Euroskeptics looks worse. Maybe there's a third option. When European Commission President Jean-Claude Juncker addressed the European Parliament in Strasbourg this past ...

Categories: Europe

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CFPB orders real estate brokers, lenders to pay $4M in fines

Thu, 2017-02-02 12:37

The Consumer Financial Protection Bureau (CFPB) has fined two mortgage lenders and two real estate brokerages for what the federal agency says was an "illegal kickback scheme" in which one of the lenders allegedly paid for mortgage business referrals, in violation of federal law ...

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Review: Netflix's 'Santa Clarita' is a diet that's definitely worth keeping - USA TODAY

Thu, 2017-02-02 12:11


USA TODAY

Review: Netflix's 'Santa Clarita' is a diet that's definitely worth keeping
USA TODAY
Created by Victor Fresco, who also gave us the too-short-lived Better Off Ted and Andy Richter Controls the Universe, Diet stars Drew Barrymore and Timothy Olyphant — perfectly, delightfully off-kilter as married real-estate brokers Sheila and Joel ...

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Categories: USA

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