Foreclosures | Mortgages | Financing
One of President Donald Trump’s priorities, tax reform, could threaten the affordable housing industry as fewer investors may be enticed to fund projects. Developers said investors are valuing the tax credit 10% to 20% lower since Election Day. The reduction in the credit’s value is already likely to cause a drop of about $1 billion in equity investment for the year. …read more
From:: Real Estate Wire
One of President Donald Trump’s priorities, tax reform, could threaten the affordable housing industry as fewer investors may be enticed to fund projects. Developers said investors are valuing the tax credit 10% to 20% lower since Election Day. The reduction in the credit’s value is already likely to cause a drop of about $1 billion in equity investment for the year. …read more
From:: Real Estate Wire
Issues that are related to regulation have kept investors from using their capital to launch new banks over the last half-dozen years.
Since the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was enacted, 1,917 banks have disappeared.
But while 24 percent of banks have gone away since enactment of the law, there have been only six de novo banks that were created.
From:: Financing
Shares in women’s apparel chain Bebe Stores Inc. plunged almost 45% during regular trading Tuesday after a report that it will close its brick-and-mortar stores and refocus entirely on online sales. Bloomberg News reported the chain will seek to close about 170 stores without filing for bankruptcy protection, although it said Bebe may need to file Chapter 11 if landlords are not willing to negotiate to end their leases. Bloomberg reported the company had no significant debt, but lost about $200 million over the past four years. Bebe cut about 15% of its corporate workforce during a restructuring in February 2016, and brought back former chief executive Manny Mashouf to run the company. Shares were starting to recover in after-hours trading Tuesday, rising more than 5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
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REALTOR® Magazine’s Good Neighbor Awards Seeks Candidates for $10,000 Grants
REALTOR® Magazine is seeking nominees for the 18th Annual Good Neighbor Awards, which recognize REALTORS® who impact their communities through volunteer work. Five winners will be announced in the November/December issue of REALTOR® Magazine. Each winner will be recognized at NAR’s 2017 REALTORS® Conference & Expo in Chicago and will receive a $10,000 grant for his or her charity. Volunteer work might include affordable housing initiatives, youth mentoring, homelessness prevention, or anything else that makes a community a better place to live. Entries must be received by May 12. For more information and an entry form, click here.
For the latest real estate news and trends, bookmark RISMedia.com.
The post A Simple ‘Like’ Earns Big Rewards with MVP appeared first on RISMedia.
From:: Real Estate News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
Trying to get in with the high-end clients in your market? It might not be as hard as you think…
As part of the latest RISMedia ACE Webinar Series, attendees learned some top tips for taking one’s business to the next level in the webinar titled, “Listing Mastery: 7 Secrets to Working with High-Net Worth Clients,” sponsored by The Entrust Group. Unsurprisingly, panelists said that to court high-end clientele, one must use tools already in their arsenal: expert knowledge of market numbers and a high-level confidence.
According to the webinar’s panelists, Anthony Marguleas, broker/owner of Amalfi Estates in Los Angeles and Julie Toon Timms, broker in charge of Hilton Head Island Real Estate Brokers, Inc., those seven secrets are:
In order to set his team up for success, Marguleas made the distinction of calling his team members “sales partners” as opposed to any other industry title. “The credibility and respect is a lot higher. ‘Buyers agents’ are great, and are doing the same role, but we’ve found ‘sales partner’ has been very effective from a branding perspective.”
His company is choosey with who they select for their team, as sales partners need to align with the company’s core values, and be okay with 10 percent charitable giving. In addition, to appeal to the higher-end market, Marguleas said you have to up your game all around, especially in the marketing department.
“You have to step it up on the advertising side and do something unique and different,” he said. His company sends direct mail to every home in the community, showing photos of the luxury homes that sold and educating potential clients about what the market’s doing, which could possibly throw a potential buyer or seller off the fence and into action.
Your apparel may make or break you as well. “Dress how your clients are going go dress. In Malibu, wear a shirt and tie. If you’re working with people in the entertainment industry, you can be a little casual. But it really depends on who they are,” said Marguleas. (CliffsNotes: If the client is wearing a $1,000 suit, you need to wear a $1,000 suit!)
“It really comes down to confidence. They’re not an expert in real estate. When you bring confidence to the table, they really respect it. The reality is they still know significantly less about real estate than you do. Once you can sit down and educate them, they’ll treat you as one of their trusted advisors, and that is key.”
Timms added that wealthier clients get up …read more
From:: Real Estate News
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
A lot goes into the decision to buy, sell or remodel a home. After all, this is one of the most significant investments of your lifetime, so there are a lot of factors to be weighed and considered…including how happy your pet will be.
Yes, you read that right. In fact, 81 percent of respondents to a recent report from the National Association of REALTORS® (NAR) reported that animal-related considerations play a role in determining their next living situations. In 2016, 61 percent of U.S. households either had a pet or planned to get one in the future, so it stands to reason that our animal companions will play a significant role in our housing decisions for the foreseeable future.
According to NAR’s 2017 Animal House: Remodeling Impact report, 99 percent of pet owners said they consider their animal part of the family, and 89 percent of those surveyed said they would not give up their animal because of housing restrictions or limitations. In fact, 12 percent of pet owners have actually moved in order to accommodate their furry, finned or feathered family member, and 19 percent said they would consider moving to accommodate their animal in the future.
No one knows the relationship between homeowners and their animal friends better than REALTORS®. Those surveyed for the report said that one-third of their pet-owning clients often or very often will refuse to make an offer on a home because it is not ideal for their pet.
Other interesting statistics from the report include:
Maria Patterson is RISMedia’s executive editor. Email her your real estate news ideas at maria@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
The post When It Comes to Homeownership Decisions, Pets Rule appeared first on RISMedia.
From:: Real Estate News
The American Petroleum Institute late Tuesday reported a climb of 4.5 million barrels in U.S. crude supplies for the week ended March 17, according to sources. The API data also showed a fall of 4.9 million barrels in gasoline supplies and a decline of 833,000 barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast an increase of 2 million barrels in crude inventories. May crude was at $48.15 a barrel in electronic trading, down from the contract’s settlement of $48.24 on the New York Mercantile Exchange.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Fast food executive Andy Puzder will step aside as chief executive of CKE Inc. this year, months after dropping his bid to be labor secretary for President Donald Trump. CKE, which owns the Carl’s Jr. and Hardee’s chains of restaurants, announced Tuesday afternoon that Jason Marker, the president of Kentucky Fried Chicken U.S., will take over its CEO role in April. “I expressed my desire to have CKE plan for succession approximately a year ago, and I could not be more pleased to have Jason Marker selected to be the company’s next leader,” Puzder said in Tuesday’s announcement. Puzder withdrew his nomination to lead the U.S. Labor Department after being grilled in congressional hearings for the role and admitting that he failed to pay taxes on an undocumented housekeeper.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
Baby Boomers are preparing for retirement and as they do, the generation is looking increasingly to downsizing. Nearly half, in fact, are giving up on the dream of homeownership entirely. As humans live longer, many must consider a wide range of course corrections in order to enjoy a secure retirement. …read more
From:: Real Estate Wire