Voice for Real Estate 88: Flood, Agents, Commercial, iOi
Articles,  Blog

Voice for Real Estate 88: Flood, Agents, Commercial, iOi

In a big win for Realtors, Congress
extends flood insurance. Are homes getting too expensive for many buyers? The number of real estate agents is increasing and that’s affecting your
bottom line. These stories and more on The Voice for Real Estate. Hi, I’m Stephen
Gasque with the National Association of Realtors. Federal flood insurance will be
available until the end of November. that’s great news and it’s thanks to a
strong showing by real estate professionals who sent 125,000 letters
to their members of Congress urging extension of the National Flood
Insurance Program it’s a four month extension which now
has been signed into law 15% of any are members wrote to lawmakers urging them
to pass the extension realtor stressed the importance of the insurance to
homeowners and homebuyers across America the focus now turns to long-term
reauthorization and reforms to make the program sustainable for the long term
we’ll keep you updated on this effort in the months ahead
an AR says existing home sales in June dipped 0.6% that’s the 5th decrease in
the last six months and that raises an important question are we headed for a
major housing slowdown as some news outlets have speculated na our chief
economist lawrence yoon doesn’t think so in areas where there is not an
affordability challenges they are seeing higher home sales so the buyers are
saying if it’s affordable I can buy a home I am going to a internal market so
places like Pueblo Colorado is saying increase sales while embracing lower
sales even though the Denver economy is much stronger than Pueblo and I
mentioned the West region being the softness in terms of sales
well West Region prices are the strongest home prices have risen by 10
percent in the West region so areas where they
are saying strong price increases buyers are hesitant UN expects home sales to be
off one to two this year while price appreciation will
remain strong at about 5 percent turning out to international buyers the volume
of foreign investment in u.s. residential real estate is down 20
percent from the previous year it now stands at 121 billion dollars what’s
behind that drop again here’s chief economist lawrence Yoon
it could be due to the weaker economies elsewhere in our solar us much stronger
dollar makes it more expensive but we have to remember that was a surge in the
prior year and we are coming down from that surge more younger professionals
are joining the real estate business that’s according to Nara ‘test member
survey it’s a positive development but it also means more agents chasing fewer
transactions as a result the typical agent last year closed 11 transactions
totaling 1.8 million in volume that’s down from 12 transactions previously
totaling 1.9 million here’s na ARS Jessica Laos with more so
we are seeing that there’s a prize and new agents and of course there’s a
limited number of transactions within a year so we do see that as people
discover their niche they are developing their practice and really finding their
footing but in the meantime there is a lot of competition right now from agents
in the field competing for similar transactions the report also shows that
experienced professionals who’ve been in the business many years continue to see
strong earnings despite that extra competition good news
for commercial real estate professionals in small and mid-sized markets across
the United States there’s an abundance of affordable investment opportunities
in those areas that’s the message commercial real estate analyst Hugh
Kelly principal of Hugh Kelly real estate economics shared at na ARS
Washington offices last week what does the advantage that the small investor
has in their own home market they know it much better than someone who flies in
that’s near that’s the critical advantage that if
you know your market you know the property you know the bankers you know
the brokers that are in there and you know the the people that are are the
employers though that’s your customer base you can access dr. Kelly’s
presentation by searching realtor University speaker series on na r dot
real tour and now news about building your business na r wants to put you
face-to-face with executives from the top real estate technology companies
venture capital firms and startups in the United States its first ever
innovation opportunity and Investment Summit known as IO I will happen in San
Francisco later this month it’s exactly the kind of event that puts you and
these executives in the same room Todd carpenter na ARS director of strategic
investments talks about the competitive advantage you can get by learning how
the next generation of real estate tools will work you know that the pace of
change the pace of innovation in technology is just getting faster and
faster and faster it’s accelerating and those things that used to be five years
out are happening the next day and so this conference is a way for brokers to
come in see what companies are doing the cutting edge things now what companies
are just getting started and you know the early startups that are just trying
to maybe even only just have a good idea and how can I meet them so that I can
start adopting these technologies that my my competitors wouldn’t even see
until they go to a trade show a year or two from now the ioi event will happen
on August 29th and 30th seating is limited so reserve your spot now by
searching ioi summit on n AR dot real tour and that’s our show for the week of
July 30th you can get more on everything we talked about today at the voice for
real estate page on realtor.org brought to you by the National Association of
real your advocate for housing and property
rights in washington across america and in your neighborhood this is the voice
for real estate you

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