Help veterans understand how VA loans work | Aaron Kirman highlights value of patience in real estate | Digital tech helps IKEA personalize shopper experience
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A two-part video series from NAR aims to dispel misconceptions about the VA Home Loan Guaranty Program and guide REALTORS® and home buyers through the process.
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Aaron Kirman, CEO and founder of the Aaron Kirman Group at Compass, says building up a reputation and industry contacts takes time. "I would say it didn't happen overnight and it was definitely a progression," Kirman says.
Parag Parekh, IKEA Retail's co-chief digital officer and chief technology officer, discusses how the retailer is tapping augmented reality, artificial intelligence and other digital tools to personalize the web and app experience and boost sales. As IKEA re-creates its catalog and showroom for digital environments, it's exploring ways to further personalize the experience based on data that's provided "without being too invasive," Parekh said.
The third quarter may have marked the end of price surges as higher mortgage rates put a damper on projections for property appreciation. Read more from NAR's latest report.
Median rent for luxury apartments in Manhattan, N.Y., increased 13% in October from the prior month, while nonluxury properties saw a decline in median rent, according to Miller Samuel and Douglas Elliman Real Estate. The strength of the luxury segment "is continuing even as the overall market peaks," said Jonathan Miller, president of Miller Samuel.
Financial-technology startup Tellus is offering investors higher yields by funding single-family home loans. The company targets its loans to existing homeowners who want to buy a larger home before selling their current house.
Some owners of single-family rental homes have slowed the pace of acquisitions amid elevated prices and continued interest rate hikes from the Federal Reserve. However, they note that the fundamentals of the sector continue to be strong, with rising mortgage rates and a shortage of housing drawing people toward the rental market, and these property owners have funds at their disposal that they can deploy when it makes sense to do so.
Some investors think the Federal Reserve could raise the benchmark interest rate to above 6%, compared with market-implied expectations of 5% to 5.25%, as inflation proves harder than expected to tame and as other economic indicators, such as a recent jobs report, remain strong. "It's really hard to see any progress on inflation in the next four or five months, not enough to satisfy the Fed," says Jim Vogel, manager of interest rate strategies at FHN Financial.
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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