Real Estate Information |
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Part 1: FAQ's From Media Interviews With Real Estate Author
Do you feel there is going to be a real estate bubble? Nash: No. Are some coastal and resort markets over-heated, yes. I don't feel that markets will collapse. But investors and property owners should be ready for longer market times, diminishing over-full-price and multiple offers in over-heated markets. Prices could plateau and appreciation levels will hover at more historical levels. If you live out-of-town from where you purchased property on appreciation speculation, I would keep in very close contact with a un-biased professional in the market, daily. Have real estate appraisers contributed to the rapid increase in home prices? Nash: Not necessarily. You have to understand their role in a real estate transaction. They are hired by the mortgage lender to appraise the property. The homebuyer pays for the appraisers services. The lender is in business to lend money and the real estate brokerages want to close the transaction and receive their fees. In most markets there are solid closed comparable properties that justify underwriting the loan. In rapidly appreciating markets, where there are no closed comparables to support the new value, all the participants in the transaction should be aware that there is risk involved in the new value assigned to a property in a real estate contract. What should homeowners and investors do to protect themselves from a potential bubble? Nash: Look for incentives by builders on completed new construction buildings or homes; this indicates an over-supply of new units. Research days on market or the length of time of property has been on market. If the typical time recently has been 30 days for sold properties and current market times for the majority of sold properties are 60 or more days, the market is softening. Home prices and mortgage rates effect each other, as interest rates drop, the more buyers can afford to pay for a home, but as rates rise buyers can afford less of a purchase price. Watch interest rates as an indictor of deflating prices. What is your position on interest only loans? Nash: Consumers need to look at the long-range implications of interest-only loans. They should keep in mind that if their home value declines, they still owe the loan amount, which could be higher than their homes market value when they sell. If appreciation remains low, in the two to five percent range and the cost to use a full-service real estate company to sell their home is five to seven percent, their appreciation will actually go to pay selling and marketing costs, ouch! What do you think about two new books:" Irrational Exuberance" and "Freakonomics" that touch on residential real estate? Nash: Both make solid contributions for real estate consumers and investors in today's environment. Everyone is looking for information to make real estate decisions. While there are many inflammatory headlines, I've found the majority of the accompanying dialogue; offer good market and real estate practices advice. The term Realtor® is generic to most consumers but are all real estate agents Realtors®? Nash: No and the National Association of Realtors® (NAR) is diligent on protecting it's status as an registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. NAR has approximately 1.1 million members, while industry sources state there are about an additional 1.4 million real estate agents not members of NAR. What housing style will be hot in five years? Nash: The ranch. As the boomers age they'll go from the two-story "I've arrived" colonial to the "I've retired" ranch. Five years ago ranch homes were not that popular and languished on the market in some areas. This last year several clients looking towards retirement and downsizing have asked to see only ranch homes. Why did you write your fourth real estate book "1001 Tips for Buying and Selling a Home"? Nash: I wanted to focus on informing the consumer to understand the questions to ask the other participants in their next real estate transaction. I ask questions like, "What is dual agency?" and "Are you being served if your agent is a dual agent?" I explain the back end of the real estate business, which is important if you as the consumer want to manage the front end of it, i.e. your transaction. Why is 1001 Tips different from other "how-to" real estate books? Nash: Early on my publisher wanted the book real simple. Its style is numbered tips with an explanation in bullet-points. Editorially light, but not real estate light. The reader can pick it up and put it down and grasp each tip without having to read four additional paragraphs. Plus I've been through many transactions as a real estate broker and understand what the buyer or seller needs to know in their transaction before they walk out of closing or escrow. With home prices today, consumers should demand to know. Is location, location, location a cliché in real estate today? Nash: Location, price, risk. Mark Nash author of 1001 Tips for Buying and Selling a Home has shared his real estate insight with CBS The Early Show, Bloomberg TV, Dow Jones MarketWatch, Universal Press Syndicate. 1001 Tips is Mr. Nash's fourth real estate book. His tips for consumers are drawn from real world experience as a broker in Chicago.
MORE RESOURCES: Real estate experts share a message for home buyers as they predict rising home prices through 2025 Fox Business The Folly of China's Real-Estate Boom Was Easy to See, but No One Wanted to Stop It The Wall Street Journal How real estate commission changes could affect buyers and sellers The Washington Post Judge Approves $418 Million Settlement That Will Change Real Estate Commissions - The New York Times Homebuyers and sellers might spend less following major real-estate settlement - Evanston RoundTable Homebuyers and sellers might spend less following major real-estate settlement Evanston RoundTable Agencies' headquarters in DC remained 'nearly empty' in 2023, real-estate board finds Federal News Network reAlpha Tech Corp. Launches Claire, Real Estate's First AI-powered, Zero-Commission Smart Buyer's Agent Business Wire Developer Sam Mizrahi files lawsuit against Edward Rogers and his real estate fund, alleges $30-million loss The Globe and Mail Blackstone's Beleaguered Real-Estate Fund Stems Exodus The Wall Street Journal real estate market and insurance Sacramento Appraisal Blog The East End Real Estate Market Report: 1Q 2024 Corcoran Inhabit @properties Christie's International Real Estate Taps Industry Leader to Expand in Fort Worth - CandysDirt.com CandysDirt.com Public records: Muskingum County, Ohio, real estate transfers Zanesville Times Recorder Real Estate Minute – 04-25-2024 KFDX - Texomashomepage.com Anywhere Real Estate Inc. (HOUS) Reports Q1 2024 Financial Results Amidst Market Challenges Yahoo Finance Homes for Sale in New York and Connecticut The New York Times Spokane-based Haven Real Estate Group acquired by Epique Realty Spokane Journal of Business Real Estate Transactions: April 26, 2024 The Recorder Home in Silver Hills North an oasis in Prattville | REAL ESTATE Montgomery Advertiser Shelter Island Reporter real estate transfers, April 25, 2024 - Shelter Island Reporter Shelter Island Reporter Inked: Recent LI real estate deals Long Island Business News Homes for Sale in Manhattan and Queens The New York Times New Mexico SIC commits $250m to real estate funds IPE Real Assets Reversing the Real-Estate Doom Loop Is Possible. Just Look at Detroit. The Wall Street Journal Top residential real estate sales for April 8-12 in Sarasota, Siesta Key, Palmer Ranch, Osprey, Nokomis Your Observer Real estate transfers GoDanRiver.com Top Transfers: 65,000 sq. ft. Dublin property sells for $7.85 million The Columbus Dispatch Philly's luxury penthouses; Linden Hill Estate in Gladwyne up for auction The Philadelphia Inquirer First-ever rural-focused Real Estate Development Boot Camp aimed at emerging housing developers Second Wave Michigan Judge approves multimillion-dollar Realtor settlement, upending the way Americans buy and sell homes WABC-TV Inside Savannah Homes $3.1M Tybee home with panoramic ocean view Savannah Morning News ANYWHERE REAL ESTATE INC. REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Longview News-Journal Anywhere Real Estate Inc. 2024 Q1 - Results - Earnings Call Presentation (NYSE:HOUS) - Seeking Alpha Kevin Owens joins Scottsdale-based Lessen real estate company | Scottsdale Independent Daily Independent La Rosa Acquires Tenth Real Estate Brokerage Franchisee with Revenue of $4.7 Million and ... The Bakersfield Californian Bedford board votes to keep real estate tax rate level Lynchburg News and Advance Pigford marks 50 years as licensed real estate agent Meridian Star Better Homes and Gardens Real Estate Metro Brokers extends affiliation agreement for 10 years Atlanta Agent magazine Real Estate Development Firm Seeking Community Input For Honey Creek Road Property in Rockdale County News-Daily.com Collierville shopping center sold to Atlanta-based real estate firm - Memphis Business Journal The Business Journals Pro boxer Caleb Truax retiring to become Twin Cities real estate agent - Minneapolis / St. Paul Business Journal The Business Journals CoStar Group acquires Matterport for digitalizing real estate GIM International As RREAF CEO Kip Sowden weighs future, son Graham waits his turn The Dallas Morning News Quebec Real Estate Investor Luc Poirier Looks to South Shore Brossard for Future Growth CoStar Group Real Estate Development Firm Seeking Community Input For Honey Creek Road Property in Rockdale County Rockdale Newton Citizen Tricon Residential Inc. Announces Receipt of Investment Canada Act Approval for Take Private by Blackstone Real ... Yahoo Finance Who's Who in Residential Real Estate 2024: Berkshire Hathaway agents - Pittsburgh Business Times The Business Journals Manhattan Real Estate Update: "Embrace the Boredom" westsiderag.com Rockford Is Now America's Top Housing Market After an Improbable Turnaround The Wall Street Journal Massachusetts housing crisis: Greater Boston Real Estate Board campaign slams transfer fees Boston Herald Positive week for Mivne Real Estate (K.D) Ltd (TLV:MVNE) institutional investors who lost 6.9% over the past year Simply Wall St Real Estate Property Transfers in Franklin for April 1, 2024 Williamson Source California, United States Luxury Real Estate Home California Listings The Highest Paid Execs in Real Estate Mike DelPrete What changes to real estate industry commissions could mean for you | Dollars & Sense ABC10.com KXTV Invest DSM selects real estate firm to manage mixed-use building in Highland Park Local 5 - weareiowa.com Real Estate Sales Include Two Falconer Commercial Properties Jamestown Post Journal Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout The Wall Street Journal Is The Housing Market Going To Crash? Bankrate.com Big changes coming to commissions in July ABC10.com KXTV PEA Group buys ASTI Environmental Crain's Detroit Business |
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