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Agents advise patience when searching in tight market Agents help families navigate find the right fit in the competitive Arlington, Va., market for single-family homes. "What I tell my buyers is two P's—patience and persistence," said Michelle Doherty, a real estate professional with RLAH Real Estate. Full Story: The Wall Street Journal (8/17)
Selling isn't about profit; it's about change, growth Instead of leading a team to think of sales in terms of a bottom line, advise them to help customers understand the potential for improvement, change and growth, blogger David Brock advises. "For sellers, if we are not helping our customers navigate their buying process successfully, we will not make a sale," Brock asserts. Full Story: Partners in Excellence Blog (8/18)
Real Estate Trends
NAR economist: Many homes still selling above list price Challenges in the mortgage refinance industry, price growth softening and a slowdown in construction are all challenges in the current real estate market, but overall the market's foundation remains intact, according to Lawrence Yun, chief economist at the National Association of REALTORS®. "It is still the case that 40% of homes are selling for or above list price due to the ongoing housing shortage," he said. Full Story: Newsweek (tiered subscription model) (8/23)
LendingTree economist: Housing market changing, not crashing Jacob Channel, senior economist for LendingTree, says a housing crash is unlikely even as price appreciation slows. "New buyers and current owners should be careful that they're not biting off more than they can chew and that they're keeping up with their payments, but they shouldn't be [losing] sleep over fears that they'll wake up tomorrow to find the entire housing market in shambles," Channel says. Full Story: MarketWatch (tiered subscription model) (8/22)
Shaker kitchens offer timeless design Despite its long history, the Shaker kitchen remains the go-to design choice for many due to its simplicity and functionality. "These kitchens are timeless, simple and beautiful, as well as being easy-to-live with and benefiting from an uncanny knack of being able to fit within any kind of interior scheme, from sleek and contemporary to cozy and classic," Natasha Brinsmead writes. Full Story: Homebuilding & Renovating (8/9)
Technology & Innovations
Japanese bank prepares foray into US online lending Attracted by the relatively low cost of online finance in the U.S., Japan's Sumitomo Mitsui Financial Group is planning to enter the market with the launch of its Jenius Bank in 2023. Aimed at the internet-savvy 20-40 age group with annual incomes over $100,000, Jenius will begin by offering unsecured loans, followed in stages by savings accounts, personal financial products such as mortgages and credit cards, and investment trusts. Full Story: Nikkei Asian Review (Japan) (tiered subscription model) (8/23)
Fair & Equitable Housing
Towns offer incentives to boost short-term rentals for worker housing The local government of Sedona, Ariz., is offering homeowners stipends of up to $10,000 if they open their homes to workers in the area. Other communities that are offering incentives for homeowners to provide short-term rentals as workforce housing include Truckee, Calif., Winter Park, Colo., and Woodstock, Vt. Full Story: Entrepreneur (8/22)
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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