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HOW WILL THE ELECTION AFFECT REAL ESTATE MARKETS ACROSS THE COUNTRY?

(Published on - 11/10/2016 3:58:13 PM)

Questions about how the 2016 presidential election is going to affect the housing market have been top-of-mind over the last 12 months. And with real estate magnate Donald Trump being voted into office as America’s 45th president, experts are taking a closer look at his policies and campaign promises.

However, the answer to this question is different depending on your location, so we reached out to real estate professionals across the country:

 

Port Huron, Michigan

Frank Locricchio, Broker of Realty Executives Home Towne in the Detroit Metro area, doesn’t believe the election will drastically affect the housing market:

“I believe that a normal election can create some consumer uncertainty but usually does not dramatically affect home price increases or decreases, or mortgage rate changes. This year’s election has been the most divisive that I can remember. With so much uncertainty between the two presidential nominees, I think we have already seen consumer confidence drop. We will see the effects of this drop in November and December.

“But once we have our new president I expect this will level off, and I do not see any major change in growth of values in homes. We are still seeing the effects of low inventory driving prices up. I expect that will shift in spring 2017, when we will likely see the true market outlook of the results of the 2016 election.”

“Ultimately the president’s influence on the economy will not take effect for some time, for good or bad, but the bigger influencer will be the Federal Reserve Chair Janet Yellen’s view on the economy. The key will be how the Fed reacts with rates.”

Eureka, Missouri

Similarly, Chuck Maher, Broker/Owner of Realty Executives Premier, doesn’t expect a big upset:

“Our market is very strong currently, and interest rates are at record lows. I don’t feel that there will be an impact on the market in our area based on the election results.”

 

Valparaiso, Indiana

Broker/Owner of Realty Executives Premier Mike Tezak believes that uncertainty caused by the presidential race has more of an effect on the housing market than the actual outcome of the election:

“This election has created more anxiety about the country’s economic future because both parties have painted negative ‘doom and gloom’ scenarios should either party get elected. This has happened in past elections, but this year seems particularly negative, creating more uncertainty.”

“Generally, when this happens it creates a situation where people hold off on making larger financial decisions, choosing not to list their homes or purchase new homes. Usually after the election things settle down and get back to normal. The only difference this year is the interest rates are still at an all-time low and look to possibly adjust after the first of year when the new president takes office, which will affect buyers.”

 

 

Phoenix, Arizona

Jeff Murtaugh, President and CEO of Realty Executives Phoenix, Tucson, Yuma, Green Valley and Tubac, is concerned about legislation that directly affects the real estate industry on a national scale:

“The Dodd-Frank Act has changed the way we do real estate, and frankly made it far more complicated, extending closing by as much as two weeks, leaving the consumer very frustrated. This is just more government regulation that we did not need.”

“Clinton is for Dodd-Frank and Trump is not. The act complicates closing, title, and mortgages, and most REALTORS® find it over-reaching by the Federal government.”

During his campaign Trump voiced plans to overhaul the act, telling Reuters that his changes would be, “close to dismantling of Dodd-Frank.”

 

 

Canada

Across the border, an increased demand for Canadian homes due to an influx of Americans into Canada could prop up real estate prices. According to licensed REALTOR® and MoneySense Senior Editor Romana King, “More demand, may help support real estate prices, particularly in larger urban centres.”

Echoing this sentiment, economist Linda Nazareth said:

“A Trump victory will boost the Canadian housing market.”

Nazareth was speaking at The Economist’s Canada Summit in Toronto earlier this year.

How do you think this election cycle is going to affect the housing market in your city? Tell us in the comment section below.

 
 
 
 
 
 

Beautify Your Dream Home by Glass Balustrades

(Published on - 11/2/2016 3:08:52 PM)

When it comes to home and architecture we always tend to experiment on various there have been witnessed so many advances in the field of building construction. The trend goes into searching for newer materials for construction and in this regard the material that is most widely tested is glass.

There are many benefits of using glass these days’ like

 

  • Glass has a modern appeal
  • Glass makes a space look more spacious
  • Glass helps in bringing out the real essence of the place
  • Glass helps in partitioning a space without cutting down upon the visual space

This is the reason why a lot of people have started using glass in the balustrades as well. You will find glass balustrade in all such places now where you would have never thought as it has the property to break at sudden jerk or due to something hard hitting it. The places where glass balustrades are being used are

 

  • Staircases
  • Balconies
  • Terraces

There are various benefits of using a glass balustrade in place of the traditional balustrades that are made from wood or stone:

 

  • The glass balustrades do not interfere with the vision and so they help you to look far and wide.
  • The glass balustrades are made of heavy duty glass and they do not break easily.
  • These days there are toughened glass available for this purpose and this is the reason why many people are opting for this kind of balustrades for their homes.
  • These provide a better protection by forming a continuous protection wall around places like terraces and balconies.

It is a fact that the balustrades that were made originally only metal or wood but in those times materials like glass and metal were not even thought of being used in construction of buildings. So, as the times changed, people experimented and found out the utility of newer materials like glass and metal in the field of construction.

 

The glass balustrades are constructed in the form of vertical or horizontal sheets. We commonly see the glass sheets being used as balustrades in the malls and larger buildings. This is just one example of how the balustrades are being commercially used at such large scales. But if this is the case then the glass balustrades at home will bear no safety issues too. The balustrades used for home are smaller and weigh less and this makes it safe to be used in residential constructions.

 

The glass balustrades make a home more modern in its looks. You can line your staircase or your balcony. You can use plain glass for a more spacious look or translucent glass for a little privacy. The glass can be with frame or without frame. The glass without frame looks more delicate and beautiful. This frameless glass could be simple or ornate depending upon your choice.

 

The maintenance of glass balustrades:

 

The maintenance of glass balustrades is a very easy thing. All you need is

 

  • Simple glass cleaner
  • Mild detergent
  • A piece of rag

This will help you clean away those hand prints or water marks from the glass surface.

 

The balustrades are not considered as a good option for small homes because they give a crowded feeling to the already small space but the glass balustrades are a good idea to create the illusion of more space in that same small home. The glass lets most of the light pass through it with little reflection and thus makes the space looks much bigger than it is actually.

 

 
 
Blog Contributor & Author - Melissa Hamler

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