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Compass agent Arran Patel is listing the New York townhouse owned by Ascot Properties NYC founder Lucky Bhalla and his wife, Laura. The $40 million asking price underscores the lack of high-end inventory in the Tribeca neighborhood, Patel says.
The inflationary environment, rising interest rates and market volatility are causing anxiety for clients, but financial professionals can help them stay calm by being empathetic and adding value where possible, writes James Rockwood of CapIntel. "If you, your firm or a publication you follow has interesting and educational articles, proactively share them with your clients on a regular basis," Rockwood advises.
Trending strategies and technologies marketers are leaning into are geared toward forging deeper consumer connections, report speakers at a recent HubSpot conference. Marketers predict a rise in conversational marketing, social media optimization, building emotional connections through empathy, creating experiences that combine physical and digital elements, and Web3 trials through nonfungible tokens.
Buyers might not consider it a deal killer if a kitchen has no island, but the house may not get the same attention. "It's the number one design feature our clients ask for in a kitchen," says architect John Potter.
Speculative, short-term investors in the housing market may help drive housing booms and eventual busts. Here is a look at research focusing on what happened between 2000 and 2011 and a discussion of whether that applies to today's market.
Many homeowners are opting for renovations instead of buying a new home, according to a survey of 1,000 homeowners by House Method. Although most projects go over budget, 93% of owners say they are worth the discomfort, time and money.
The surge in home prices during the coronavirus pandemic brought with it skyrocketing rents across the country, with the trend attributed largely to the rise of telecommuting. "The bad news is that America's housing affordability crisis has gotten even worse," Paul Krugman writes.
Economists' forecasts for the economy suggest that inflation will decline to some extent, said Thomas Barkin, president of the Federal Reserve Bank of Richmond. Still, Barkin noted that "at this point, the risk of inflation festering still feels to me like a bigger risk than the risk of inflation coming down on its own and us having oversteered."
Documented problems that have long plagued Florida's homeowners' insurance market will pose a challenge for the Hurricane Ian recovery effort. Multiple insurers in the state have been declared insolvent, and many homeowners do not have flood coverage in their policies.
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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