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real estate trends

Spring is Coming!!!

The Spring Market is Coming!

In years past, we have written blogs about Spring cleaning and preparing homes for a brisker housing market.  This year, all signs are pointing to a stronger market than in the past several, with more options for a more motivated set of buyers.

 

The whys:

Fewer Under Water Sellers:  As the housing market improves the number of people owing more on their home than its current value is decreasing.  According to CNBC, Americans today have three trillion dollars more equity than they did when the market last bottomed out in 2012.  People are no longer trapped in a home that they cannot sell without bringing money to the closing.

Housing Starts Are Sporadic: As more and more markets recover, the number of available existing homes competing for home purchasers increases, cutting into demand for new options.

Interest rates will likely be rising: One thing that has been largely missing over the past several years has been urgency to take advantage of remarkably low mortgage interest rates.  With no increase on the horizon and uncertainty in the market place, there were more tire kickers than trigger pullers.  With the rates likely to rise, and the economy showing positive signs, this has all changed.

Rental Rates are Still Rising: According to Apartment List, rents are up month-over-month in 57 of 100 largest cities. As they rise, it is making more and more sense to buy, where your monthly interest is still deductible and your monthly payment stays constant.

While the market is improving, it is impoHome Garden Imagertant for home sellers to do their homework and not test the waters too high for too long.  Today’s buyers are savvy, with more on-line tools to get a good overview of each market.  As a buyer, you too will need to be on top of things.  Today’s homes that are priced appropriately will sell fast.  Be ready with a mortgage pre-approval and a good understanding of what your payment will be for any given price and the monthly cost per $1,000 increase in mortgage amount.

If you are a transferee, make sure your Realtors at both ends are responsive and forthcoming with actionable information.  Home buying and selling can be very stressful.  But, the better prepared you are, the quicker you can get through it and focused on the next adventure!

End of Season Wrap Up

Breathe in. Breathe out. You did it! You survived the crazy summer season and now you can take a beat before the end of the year madness kicks in. No rest for the weary, right? Well, I’m hoping I can give you a slight break with today’s post. It’s tough to keep up with all the blogs, tweets, news, videos, etc. when work is crazy so I’ve gathered some of the summer’s best posts (in my opinion) about HR, relocation, real estate, talent management and supplier diversity to help you catch up on what you may have missed. We’re your one stop shop today so grab another cup of coffee, sit back at your desk, and enjoy a few minutes to yourself this morning.

A Short & Sweet Brexit Update

We all remember last summer’s big Brexit news. Well it’s far from over. Now that 2017 is in full swing, it’s time to take a look at the UK housing market and the impact that Brexit may have moving forward. If you have employees relocating to the UK and/or employees already on assignment in the UK, it’s important to take notice of the market for renters and homeowners alike.

2017 Housing Market Snap Shot

Every year, Zillow conducts research to predict the top ten housing markets for the next 12 months. Real estate experts consider home values, unemployment rates, and income growth before making the top ten list. This year, most of the list is comprised of western cities but 2017’s number one “hottest housing market” is Nashville, TN.

3 Things Your Homeowner Transferees Need to Know Before Closing

It’s no secret that the home sale/home buying process is the most stressful part of relocation for transferees. It is not uncommon for home buyers to breathe a sigh of relief once an offer is accepted but unfortunately at that point, the process is still far from over. Every closing is different. Some are formal and drawn out and others are more swift and simple but there is one thing for certain, there are a lot of factors to keep in mind in the days and weeks leading up to it.

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?

To Stage or Not to Stage?

We all know time is money.  When it comes to real estate, this couldn’t be truer. While the sales price of a home may

Staging a Home

Photo credit: HGTV

not change, obtaining a sale quickly can save a considerable amount of money in the form of carrying costs and even loss on sale if the market is in decline.  One way to give prospective buyers a perception of the depth and functional usage of space is to furnish the home. As such, transferees may request additional monies for staging the home as a part of the home marketing benefit. Should you comply?

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.

United Van Lines 2015 Migration Study

 

For nearly four decades (39 years now), United Van Lines has conducted an annual survey to discover migration patterns from state to state across the nation. Each year, new patterns form, old patterns repeat, and we learn more United Van Lines Migration Studyabout why and where people are moving throughout the country. In the 2014 survey, Oregon held the title for “Top Moving Destination” for the second year in a row while the northeast experienced quite an exodus for reasons such as retirement and relocation (though in my opinion, it’s the cold that pushed people away). Now that 2015 has come to a complete close, it’s time to see what, if anything, has changed.

Is the Housing Market Bubble Back?

I realize this is a loaded question to ask, considering people from certain parts of the country are still trying to bounce back from the early 2000’s. Things just started looking up, but could there really be another housing bubble coming? According to an article on Zillow, it doesn’t appear that the US as a whole is in any major trouble, at least not in the next five years or so. However, experts say that some markets, including New York and San Francisco, are already in a bubble. Additionally, some experts predict that Boston, LA, and/or Miami may enter a bubble within the next three years. So, how are these predictions made and what exactly does it all mean?

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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