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Long Island and Queens Open House Weekend May 5th and 6th, 2018

(Published on - 4/12/2018 10:18:11 PM)

 

The Long Island Board of Realtors®, Inc. (LIBOR) is pleased to announce the 9th Annual Long Island & Queens Open House Weekend (OHW) that will take place on Saturday, May 5th and Sunday, May 6th.  

Realtors® can visit  www.lirealtor.com/ohw to find out more information and to register to participate in the OHW event.   Campaign materials, along with many other resources created for this year’s OHW event include: digital banners and the OHW logo to be used by members to help promote the event,  flyers and posters to be shared in your office and displayed where the  public can take notice, talking points about OHW to share with the media, and Realtor® Safety Tips that are important to review before holding an open house.

LIBOR will be marketing the Open House weekend to the public by way of social media, digital advertising, TV, radio and print ads.  LIBOR looks forward to supporting all of their members and is proud to contribute to your success by creating events that promote homeownership.

 


Affordability a Concern for Aspiring Buyers

(Published on - 2/10/2018 6:50:20 PM)

The majority of renters say they want to own a home in the future and believe that homeownership is a critical piece of the American dream. But making the leap into homeownership is facing bigger hurdles as the market sees higher home prices and a shortage of homes for sale, according to the National Association of REALTORS®’ newly released Aspiring Home Buyers Profile, which is based on findings from a survey of more than 10,000 households’ attitudes about the real estate market.

 

Non-homeowners surveyed say the main reason why they do not currently own is because they are unable to afford homeownership. Swift price increases and a shortage of homes for sale in most of the country have shaken the confidence of non-owners as they consider buying. As such, the share of non-owners who say now is a good time to buy fell to 58 percent at the end of 2017, following a high of 62 percent in the third quarter of 2017.

“A tug of war continues to take place in many markets throughout the country, where consistently solid job creation is fueling demand, but the lack of supply is creating affordability constraints that are ultimately pulling aspiring buyers further away from owning,” says Lawrence Yun, NAR’s chief economist. “These extremely frustrating conditions continue to be most apparent at the lower end of the market, which is why the overall share of first-time buyers remains well below where it should be given the strength of the job market and economy.”

Still, non-homeowners’ desire to eventually buy is not waning. They say the following goals most make them want to buy in the future:

  • Change in lifestyle, such as getting married, starting a family, or retiring
  • Improvement in their financial situation
  • Desire to settle down in one location

Until they do buy, non-homeowners expect to face increasing rents. Fifty-one percent of renters surveyed say they expect their rent to increase this year. However, only 15 percent of renters said the increase in rental costs would make them consider purchasing a home.

“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher,” Yun says. “However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

 

 

Source: National Association of REALTORS®


5 Tips to Reduce Your Home’s Holiday Energy Consumption

(Published on - 12/6/2017 10:27:39 PM)

 

 

holiday energy

It’s the most wonderful time of the year! The smell of pine and cinnamon, cookies baking in the oven, lights twinkling inside and outside your home, and…

An enormous electric bill. Ouch.

The holidays in America are known for being a little over the top, and excessive energy consumption from lights, decorations and appliances are no exception. While it may be exciting to make your house light up like a beacon that can be seen from outer space, it’s not actually that great for your wallet (or the planet, for that matter).

If you’re thinking about having a greener holiday season, try the following tips:

 

Use Better Lights
Based on a report from WIRED, Americans spend an extra $233 million on utility bills each year because of holiday lights. To keep your energy consumption in check this season, try LED or energy-efficient bulbs instead of traditional ones. Incandescent lights draw up to 90 percent more watts than LED lights, so switching to LED strands—or going with wreaths, bows and lawn ornaments that don’t use energy—can save you a ton.

 

Use Smart Plugs
It’s easy to forget to unplug decorations and lights, but doing so can make a real ding in your monthly budget. That’s where smart plugs come in handy. Smart plugs monitor your energy usage and break it down into an easy report each month so that you know exactly how much energy your holiday decorations consume.

Some smart plugs can also be programmed to run on a timer or manually from an app on your smart device. When you’re toasty in bed, you can turn off your lights to save on energy. Plus, if you’re away on vacation, you can pull a "Home Alone" and make it look like you’re home, which can help deter holiday theft.

 

Cook Wisely and in Batches
Holiday cooking is one of the best parts of the season. (Hello, pumpkin pie.) But, firing up the oven and stove accounts for 4.5 percent of your home’s energy consumption, and that number jumps to 15 percent if you add in the energy your fridge and other kitchen appliances consume. This season, when you’re making lots of cookies, roasts and goodies, remember to bake in batches so you don’t waste energy heating and re-heating the oven.

Also, use appropriately-sized cookware. Glass or ceramic pots and pans can be heated to 25 degrees less than recipes recommend, and cast iron retains heat easier, making these types of cookware a good option to help you save more on energy costs. You can even go green entirely by making recipes that require low or no energy to prepare. And don’t forget that the oven will act as a temporary space heater when you're cooking, so be sure to turn down your thermostat.

 

Light a Fire
A roasting fire is a festive holiday accessory—and it’s a great way to cut down on grid-powered electricity this season. Fireplaces can actually be an eco-friendly (and super cozy) way to heat your home. You don’t even need chestnuts to get the full effect.

As you’re doing this, try keeping your thermostat 7 - 10 degrees cooler than normal for eight hours per day to save up to 10 percent on your utility bills. For example, you could turn your thermostat down early in the morning and at night, then turn it up during the day. It’s sweater weather after all, so bundle up and let a fire warm you.

 

Use Your Foyer Wisely
The more the merrier, but when guests come and go for the holidays, your home can lose a lot of heat through the opening and shutting of doors. Try adding a draft-blocking device to insulate your home. You should also open other doors inside your home to increase proper air circulation and make it easier for your furnace to heat the space.

Trying to make your home eco-friendly through the holidays doesn’t have to be a burden. In fact, besides saving you some serious change and reducing your carbon footprint, it can actually be a holiday mood booster as you make things more nostalgic and cozy. Who knows? You might even create a new holiday tradition.

Carols around the fireplace, anyone?

 

courtesy of Elaine Thompson at rismedia.com 

 


Realty Executives named a Top Franchise Brand by Entrepreneur Magazine

(Published on - 10/12/2017 6:37:36 PM)

Realty Executives 2017 Top Franchise Brands ranking

Realty Executives has been recognized as a top franchise brand by Entrepreneur magazine’s 2017 Top Franchise Brands list. Entrepreneur set out to discover which franchises have done the best job of building themselves up as “beloved, recognizable, robust brands,” noting that factors such as social media followers, system size, number of years in business, number of years franchising, and overall reputation were taken into account.

"We are the experts and have been for 50 years. Our brand equity is built on a culture of excellence, agent productivity, entrepreneurial freedom, and fair pricing that is unmatched,” says David Tedesco, CEO of Realty Executives International.

 

“We will continue to innovate, having set the tone at our founding by establishing the first 100% commission pricing model, we’ve reinvented mobile technology for our Executives, their teams, and our Brokers. As a result, we’re attracting and creating even more productive agents – now 47% more productive than the industry average."

Realty Executives ranked No. 177 on the Top Franchise Brands list, scoring highest in the Cost and Fees, Financial Strength, Size and Growth, and Support categories.

“These scores also reflect the fact that we are a totally debt-free company, and the success of our Concierge Services team, which provides support to our network across multiple channels 2.7 times faster than the industry average,” explains Tedesco.

The 2017 Top Franchise Brands list is based on data submitted for Entrepreneur’s 2017 Franchise 500® ranking.

About Realty Executives Intl. Svcs. LLC 
Established in 1965, Realty Executives International is one of the largest and most established real estate franchise systems in the world, with over 8,000 agents and 500 offices globally. The company offers disruptive pricing models particularly attractive to top performing agents. Its unrivaled mobile technology, business tools, training and concierge service are coupled with protected territories and financing for qualified franchisees. The Scottsdale-based, privately held company has been ranked as a leader in the real estate industry by publications like Entrepreneur, Success and Inc. magazines. For additional company information visit http://www.RealtyExecutives.com.


Millennials Are Redefining Home-Buying Standards—and Gen Z Is Next

(Published on - 9/29/2017 5:28:35 PM)
 
 
 

The home-buying approach varies from generation to generation—and in order to overcome down payment hurdles, millennial buyers are transforming the standards of homeownership set by baby boomers, according to the 2017 Zillow Group Report. In fact, less than half (39 percent) of millennials submit offers with the recommended 20 percent down payment. Twenty-one percent put down the minimum: 5 percent or less.

The financial challenges don’t stop at down payments. Thirty-three percent of millennial buyers report having difficulty qualifying for a loan, and 43 percent have trouble finding out what they can afford. These complications likely stem from a lack of experience, as 71 percent of millennial buyers are purchasing their first home.

“In many cities across the U.S., the housing market is extremely competitive, especially for first-time buyers who are looking to purchase a starter home,” says Zillow Chief Economist Dr. Svenja Gudell. “Young buyers often start their careers in fast-growing cities in which the market is particularly tough—and they’re trying to save for a down payment while making record-high rent payments.”

Most millennials are not confident in their buying power. Sixty-two percent simultaneously search for rentals as a back-up in case of challenges in their home search, such as finding suitable properties in their price range or within their required time frame.

Millennials will, however, look for creative ways to achieve the home-buying dream. Twenty-nine percent of millennial buyers ask friends or family for down payment help, often coming up with the full amount using various sources.

Millennials will also jump on the opportunity to claim a home. They do not shy away from multiple offer situations, and are not afraid to go over budget. More than 53 percent of first-time millennial buyers make multiple offers on the homes they want, and 37 percent don’t keep to their financial plan. This can prevent future plans to sell if market conditions don’t allow the sale of the home to cover remaining mortgage balances. The typical homeowner still owes 62 percent of their home’s value and 46 percent of millennial sellers won’t sell their home in their desired price range.

The economic landscape may or may not change for the next generation, but they will likely tackle these financial challenges in their own way, the report shows. Generation Z is just now starting to enter the housing market as renters.

“It’s encouraging to see that Generation Z is inheriting the same notion of what home means as their parents and millennial siblings,” says Jeremy Wacksman, chief marketing officer at Zillow Group. “These tech-savvy yet risk-averse renters are bringing their social personalities home, desiring communal amenities geared toward bringing people together.”

While Generation Z buyers embrace homeownership as fundamental to achieving the American Dream, high rent prices may stand in the way when it comes time for them to buy. Thirty-seven percent of renters who didn’t move in the past year state that lack of affordability is the main reason for staying put.

Since 47 percent of Generation Z identifies as non-white, it is the most racially and ethnically diverse generation in U.S. history, the report shows. This may bring to light challenges facing minority buyers today. Thirty-seven percent of African American/black buyers, 33 percent of Asian/Pacific Islander buyers and 25 percent of Hispanic/Latino buyers indicate they are dissatisfied with the home-buying process. This is due mainly to higher denial rates for minority buyers on pre-approvals and mortgages.

The millennial generation is redefining the way homeownership is approached, and Generation Z will have its own impact on the housing market in a few years, the report shows—especially since they will likely outnumber millennials by nearly 1 million people by 2020.

“As they mature and look toward homeownership, it will be interesting to see how their aspirations and preferences will shape the housing market,” says Wacksman.

For more information, please visit www.zillow.com.


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