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By Susanne Dwyer

Luxury is luxury at any level—right?

Not when it comes to home-buying, according to a recent report by Luxury Portfolio International®, the luxury face of Leading Real Estate Companies of the World®, and market researcher YouGov.

The report, “The Affluent Homebuyer: A Quest for Meaning,” reveals three tiers of wealthy homebuyers:

1. Practical Explorers ($1-2 million)
2. Meaning Seekers ($2-5 million)
3. Power Players ($5 million-plus)

“For today’s real estate agent, it’s critical to understand the mindset of the affluent consumer,” says Paul Boomsma, president of Luxury Portfolio International. “The research shows it’s clear that not all consumers are the same, and part of speaking their language is understanding their deepest motivations.”

Homebuyers on the lower end of the luxury spectrum, or Practical Explorers, prefer enlisting the expertise of a real estate professional, desiring “trusted experiences,” according to the report. Meaning Seekers, on the other hand, seek the status associated with owning luxury real estate, believing that “once you experience true luxury, it’s hard to scale back.” The top tier Power Players pursue “the best”—and are willing to pay a premium for it.

Discover more from the report in the download here.

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

For the latest real estate news and trends, bookmark RISMedia.com.

The post The 3 Tiers of Wealthy Homebuyers appeared first on RISMedia.

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From:: Real Estate News

By Susanne Dwyer

Indicators from all sides affect the housing market. Increasing inflation, in fact, can drive up mortgage rates—but at what pace will it prove harmful?

A recent Outlook from Freddie Mac projects three outcomes for inflation—higher, lower, or stable—and each outcome’s effect on housing.

A case of higher inflation would be detrimental to the housing market, according to the Outlook, with both home sales and mortgage originations negatively impacted due to a swift rise in interest rates.

A case of lower inflation, however, would be beneficial, especially for homebuyers on the sidelines due to too-high home prices.

A case of stable inflation—on par with economists’ expectations—would hinder home sales initially, but ultimately prove favorable.

“Which course inflation takes over the next year will have important implications for housing and mortgage markets,” says Sean Becketti, chief economist at Freddie Mac. “On balance, the risks to higher inflation outweigh lower inflation, but in our estimation, most of the reflationary factors have already been baked into current interest rates, and inflation is likely to increase only modestly over the next two years. With the housing market on the verge of the spring home-buying season, this is good news in an environment where historically low mortgage rates will help offset the pace of house price growth and lack of for-sale inventory in many markets.”

Source: Freddie Mac

For the latest real estate news and trends, bookmark RISMedia.com.

The post Spring Outlook: How Inflation Could Impact Housing appeared first on RISMedia.

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From:: Finance and Economy

By Susanne Dwyer

Indicators from all sides affect the housing market. Increasing inflation, in fact, can drive up mortgage rates—but at what pace will it prove harmful?

A recent Outlook from Freddie Mac projects three outcomes for inflation—higher, lower, or stable—and each outcome’s effect on housing.

A case of higher inflation would be detrimental to the housing market, according to the Outlook, with both home sales and mortgage originations negatively impacted due to a swift rise in interest rates.

A case of lower inflation, however, would be beneficial, especially for homebuyers on the sidelines due to too-high home prices.

A case of stable inflation—on par with economists’ expectations—would hinder home sales initially, but ultimately prove favorable.

“Which course inflation takes over the next year will have important implications for housing and mortgage markets,” says Sean Becketti, chief economist at Freddie Mac. “On balance, the risks to higher inflation outweigh lower inflation, but in our estimation, most of the reflationary factors have already been baked into current interest rates, and inflation is likely to increase only modestly over the next two years. With the housing market on the verge of the spring home-buying season, this is good news in an environment where historically low mortgage rates will help offset the pace of house price growth and lack of for-sale inventory in many markets.”

Source: Freddie Mac

For the latest real estate news and trends, bookmark RISMedia.com.

The post Spring Outlook: How Inflation Could Impact Housing appeared first on RISMedia.

…read more

From:: Real Estate News

Flagstar Bancorp announced earlier this week that it completed the previously announced acquisition of Stearns Lending’s delegated correspondent lending business. Financial details of the deal were not disclosed. …read more

From:: Real Estate Wire

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From:: Real Estate Wire

After being confirmed by a 58-41 vote in the Senate, Ben Carson officially became the 17th secretary of the Department of Housing and Urban Development on Thursday evening when he was sworn in by Vice President Mike Pence. Here’s a look at how Carson spent his first day at HUD. …read more

From:: Real Estate Wire

Nashville managed to stay afloat throughout the finance crisis despite similar metros across the country crashing. But can the city keep up with its now growing economy? Pro Teck Valuation Services spotlights Nashville’s current recovery, highlighting that the city is falling into an affordability crisis. …read more

From:: Real Estate Wire