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New York’s Second Avenue Subway is Open! What Does This Mean for Renters?

I may not live in New York City, but I’m still a New Yorker at heart and that means that I fully understand how vital the New York subway system is to both its residents and its visitors. It transports nearly six million people every single day! It was no surprise that New Yorkers cheered for joy when the mythical Second Avenue Subway finally came to life on New Year’s Day. But will this long awaited track lead to a major increase in rent?

It’s a Seller’s Market, Buyers Just Live In It

It’s almost that time, the busy summer moving season. In just a few short weeks, transferees around the country will Seller's Marketbe packing up their homes and preparing to go through the relocation process. With a solid program and help from a quality Relocation Management Company, the process should be relatively seamless and smooth but the home finding/buying step is always a little stressful. Unfortunately, this year may be even tougher because in many parts of the country, there is a lack of homes for sale. Because of this, it’s really important to provide as much support and as many resources as possible for your transferee, especially if they happen to be buying for their first time.

Rental Market and Housing Market Lock Horns

We admit, we have been a little obsessed with housing market stories lately. But, who isn’t? It’s a weird time for real estate.  And, what it boils down is this – today’s real estate and rental market needs confidence and equity.  While we are seeing significant appreciation in some markets, it is not due to a significant number of new buyers.  As we have pointed out, the lack of inventory is the real culprit.  For this reason, we are not seeing any let up in the rental market.

Zillow: Negative Equity Persists in 21 Housing Markets

Back in March, Zillow released a report showing that, in 21 out of the top 50 U.S. housing markets, some underwater home owners are sinking deeper into debt. This seems contradictory to the face that home values are generally rising across the board around the country. Confused by the paradox, I asked Mike Canning, our real estate guru, to share his thoughts on the article.

Is Your Transferee Still Underwater?

A month ago, we released an EBook all about Generation X. While we discussed several of the traits and values of this generation, we also covered some of the specific challenges Gen X may have when it comes to relocation. One of the points that stuck out most to me was the fact that Gen X took the brunt of the economic downturn on the chin and, today, they are still working to stand back up. Most of Gen X angst has to do with the housing market so, today, I wanted to share some information about what to do if your Gen X transferee is still underwater on their home.   

Is it all Doom and Gloom for the 2015 Housing Market?

Last week, we read (and shared) and article by Chicago Agent Magazine titled, “3 Important Trends to follow for the 2015 Housing Market.” I think the article raised some good points – namely, that the rise in home prices will slow down a bit and the rental market will continue to flourish. But, after reading this article, you may find yourself a bit depressed.

Are Adjustable Rate Mortgages Really the Devil?

A few weeks ago, the Wall Street Journal ran an article discussing the return of adjustable rate mortgages, known as ARM’s or, depending on who you talk to, an evil fat cat banker scheme to rob America.  While I jest, questions and concerns about the return of ARM’s are valid, albeit overblown. Adjustable rate mortgages were one component in a market that started over extending itself years before the 2007 housing crash and subsequent great housing recession.

New Housing Market Policies Put Transferees in Good Position to Buy

Working for a relocation company, I’m privy to real estate trends in a variety of markets across the country, as well as the country as a whole. Surely, housing numbers are constantly fluctuating, but if you look at patterns over longer periods of time, they can tell you something important. Real estate has been my business for the past 25 years, so I’ve sailed through the ups, weathered the downs and managed through everything in between. That’s why I try to put housing numbers, and policies, into a broader perspective. Essentially, what is good for today may not be good for tomorrow – and if it’s not good for tomorrow, are we really any better off in the long run? And is it important if we are?

You Call that Buyout an Offer?

Dice and House on Weighing ScalesIf you are relocation manager, you are probably bombarded with the question: Why is my buyout amount so low?  And, of course, you’ve handled accusations that the appraisers are “in your service provider’s back pocket.”  While there are many factors that influence the appraised value, the biggest culprit for lower than expected valuations is the forecasting adjustment tool.  

Don’t Shoot the Relocation Messenger

Dont Shoot the Relocation Company MessengerAs anyone in the relocation industry knows,  sinking home prices and other economic factors have added a great deal of stress to the relocation process. I’m really proud of my team for holding it all together. This post is for them.

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RICK CALANNI
VP of Business Development Northeast Region

 

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