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relocation issues and trends

Three Moving Lessons from the Busy Summer Season

When a company works with a quality relocation management company, HR can rest assured that their transferees are well taken care of. However, that doesn’t mean that your company’s gatekeepers are totally off the hook. When it comes to relocation benefits, there is no one size fits all package, which means exception requests are bound to happen. Aside from selling and buying a home, the physical household goods move is the most stressful aspect of a relocation for your transferee. We are almost out of the woods with 2015’s busy moving season, so I figured I’d share some of this year’s biggest takeaways.

Tips for Managing Summer Relocation Stress

It’s that time of year again – you know, August. It’s the month when we can see the light at the end of the tunnel of the busy season. It’s also the month when stress is high from all the moving volume. Of course, we love what we do. But, by August, a moment to catch our breath is a welcome treat. 

UPDATE: RESPA Rules Granted an Extension

UPDATE: This week, the Consumer Financial Protection Bureau (CFPB) issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, to October 3, 2015. The Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rule. The Bureau further believes that scheduling the effective date on a Saturday may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems.

Three Great Tips for Helping Homesick Transferees

If you have moved a lot of transferees, or have had the experience of working closely with one, you should know that they are going through a major transition. Even the most positive of transferees go through bouts of homesickness, or general emotional discomfort, as a result of rapid changes and unfamiliar territory. Feeling homesick is a perfectly normal and almost always inevitable.

Lack of Supply Haunts the Housing Markets

Pursuant to our last post, and as a lead up to our next EBook, today we wanted to talk about the big, not so subtle elephant in the housing market: a lack of supply. According to Zillow, the lack of new supply is squeezing renters and buyers by keeping housing costs high. In fact, U.S. renters can expect to spend 30.1 percent of their income on rent, while home buyers can expect to spend about 15.3 percent of their monthly income on a mortgage payment.

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.

Top 5 Issues HR Will Face During the Busy Relocation Season

Last week, Paige posted about how the busy relocation season has arrived. She went over the fact that the household goods aspect of your transferees’ moves will definitely pose a challenge this year due to an increase in volume and decrease in actual trucks and drivers. For your employees, the household goods moving process is, without a doubt, the most stressful piece of the relocation puzzle (well, maybe after selling the home). This week, I want to talk about some of the stresses that HR will encounter as the summer season really takes off.

Brace Yourselves, Summer is Coming.

Well, it’s that time of year again. From the hustle and bustle in the office, and the parking lot behind me, I can safely say that the relocation busy season is upon us. And, if the strengthening housing market and increase in relocation activity is any indication, this year will be busier than it has been in several years. How are you managing the season so far?

Is Social Media Driving Decision Making?

Lately, for whatever reason, the social media conversation has dominate most of my marketing discussions. Of course, social media is huge. We write about who uses social media here all the time. But, I think the more people who start to identify with more tools – and then start to use these tools themselves – the more interested they become. Because, today, social media isn’t just posting about your lunch on Facebook. It’s about the cumulative share of a wealth of information that influences decision making every day in both small and huge ways.

What’s the Real Impact of the New RESPA Forms?

In the past week, I have attended two relocation industry conferences, where there were spirited discussions regarding the RESPA changes, slated to take effect this August.  This legislation was designed with two primary objectives: make consumers better aware of charges (anticipated and actual) associated with the closing of their new home; and consolidate several confusing currently used forms into fewer, more concise documents.  Further, within the process, lenders are given additional responsibilities and time frame for providing buyers the anticipating charges.  The final (cost) disclosure statement must be received by the buyer a minimum of 3 days prior to the settlement (which will now be referred to as “Loan Consummation”).  If they are not, or if there are any changes beyond the specifically permitted limits, closing cannot take place until three days after the proper disclosure document is provided.

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MIKE CANNING
VP, Client Services

RICK CALANNI
VP of Business Development Northeast Region

 

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