Author: admin

The National Association of Realtors released a guide on how to add solar power details to MLS in order to more accurately determine the value of green homes. Also, the Houston Housing chairman resigns after a disagreement with the mayor over affordable housing issues. …read more

From:: Real Estate Wire

By Susanne Dwyer

Editor’s Note: The following is the cover story from the August issue of RISMedia’s Real Estate magazine.

From the widespread ripple effect of the Brexit vote to the staggering investment made by Chinese homebuyers in the U.S., there’s no denying residential real estate has become a global industry. With a parent company that already has worldwide recognition, Berkshire Hathaway HomeServices had global expansion planned when the brand launched in 2013. Now, heralded by a new website designed to facilitate international business like no other, the real estate brokerage franchise network readies itself for phase two of the plan: awarding Berkshire Hathaway HomeServices franchises in key markets around the world.

“Berkshire Hathaway HomeServices has grown remarkably in the U.S. and we’re now extending our brand, value proposition and culture abroad,” says Gino Blefari, network chief executive officer. “Our expansion plan takes place in two phases with carefully measured steps and milestones. Our first priority is to help our domestic franchisees conduct more international business, and then add high-quality brokerages abroad that will uphold our network’s values and meet its rigorous standards.”

To head up global expansion, Berkshire Hathaway HomeServices brought on global real estate franchising veteran Peter Turtzo one year ago this month. Serving as the brand’s senior vice president of International Operations, Turtzo has been responsible for establishing the strategy and process for growth into international markets.

According to Turtzo, global expansion was part of the brand promise Berkshire Hathaway HomeServices made to its franchisees from the outset. “This is something our entire organization not only looked forward to but also expected as part of the Berkshire Hathaway HomeServices value proposition,” he says. “I plan to deliver on this promise.”

Phase One: Bringing the World to the U.S.
Phase one of the two-pronged plan rolled out with the May release of the new BerkshireHathawayHS.com, replete with rich features to engage a global audience. Thanks to sweeping upgrades nearly a year in the making, BerkshireHathawayHS.com has become the industry’s first site to showcase the complete U.S. property database—translated into 10 foreign languages—to the world.

“We had two primary goals for our website: to promote the Berkshire Hathaway HomeServices brand beyond U.S. borders, and to connect international real estate consumers with our U.S. franchisees,” explains Stephen Phillips, COO of HSF Affiliates, which operates the network. “We addressed both goals with our site’s powerful search platform, which enables consumers to look for real estate in their native language. We offer a consistent experience for customers regardless of the language they choose. Other brands’ sites require you to jump to a different site for translation.”

BerkshireHathawayHS.com translates property information into: Chinese; French (European); French (Canadian); German; Italian; Japanese; Portuguese (Brazilian); Portuguese (European); and Spanish (Latin American) and Spanish (European). The most striking feature of the site, however, is its ability to bring full MLS data to buyers around the world—a feat that has yet to be taken on by other brands.

“Compliance represents a high barrier to entry into the full MLS data space,” explains Phillips, preventing brokers from making the leap to …read more

From:: Real Estate News

By Susanne Dwyer

You can now live the Italian life without ever stepping foot out of California. 2928 Corral Canyon Road, an ultra-luxe, villa-style estate conveniently located in Malibu just hit the market. Inspired by the Italian village of Limano, this gated estate boasts Roman pan roof tiles, limestone floors, high ceilings, and 360-degree views of ocean, canyon and mountains—oh my.

Four bedrooms and six bathrooms offer enough space for friends and family, and the property’s jaw-dropping expanse of fluffy green lawn is perfect for a pony, a pack of pups, or a putting green.

Walk the home’s resort-like grounds, dip your toes in the infinity pool, bubble in the spa, and on those mild California nights, warm up with pals by the outdoor fireplace beneath a covered loggia.

Listed for: $7,888,000

…read more

From:: Real Estate News

By Susanne Dwyer

The U.S. Department of Housing and Urban Development (HUD) recently announced the agency is making $2 million in grants available to help low-income families and young people apply for federal aid for college and other post-secondary educational opportunities. The funding is being offered through HUD’s longstanding Resident Opportunities and Self Sufficiency (ROSS) Program. The available funding will support ‘Education Navigators’ in up to six Public Housing Agencies (PHAs) across the country.

Increased access to higher education can significantly improve life outcomes. The Department of Education estimates that those who earn a bachelor’s degree earn two-thirds more than those with only a high school diploma or an average of $1 million more in lifetime earnings. In addition, college graduates are far less likely to face unemployment. It’s also estimated that within the next four years, two-thirds of all new full-time jobs will require a college education.

HUD Secretary Julián Castro says, “Many families find the cost of higher education prohibitive, but know that a degree or training beyond high school is essential to be competitive in today’s 21st century global economy. By helping students access federal financial aid, HUD is lifting up students to overcome financial challenges and reach their full potential.”

HUD’s ROSS Program encourages local, innovative strategies that link public housing assistance with public and private resources to enable participating families to increase earned income, reduce or eliminate the need for welfare assistance, and make progress toward achieving economic independence and housing self-sufficiency. The ROSS for Education Program, also known as Project SOAR (Students + Opportunities + Achievements = Results), will support hundreds of young people between the ages of 15–20 to apply for U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA).

Lourdes Castro Ramírez, HUD’s Principal Deputy Assistant Secretary for Public and Indian Housing, adds, “By investing in our youth and communities, we’re helping to unlock the promise of higher education for all. Project SOAR will help students in HUD-assisted households to access opportunity and achieve their dreams.”

Project SOAR is one of several HUD initiatives to increase access to federal financial aid for HUD-assisted families and students:

• HUD is working with the Department of Education to better understand FASFA completion and educational attainment of HUD-assisted tenants through data sharing.
• Alongside the White House’s Social and Behavioral Sciences Team, HUD is exploring whether behaviorally informed messages can increase completion of the FAFSA among students with housing assistance.

For more information, visit www.hud.gov.

…read more

From:: Finance and Economy

By Susanne Dwyer

The U.S. Department of Housing and Urban Development (HUD) recently announced the agency is making $2 million in grants available to help low-income families and young people apply for federal aid for college and other post-secondary educational opportunities. The funding is being offered through HUD’s longstanding Resident Opportunities and Self Sufficiency (ROSS) Program. The available funding will support ‘Education Navigators’ in up to six Public Housing Agencies (PHAs) across the country.

Increased access to higher education can significantly improve life outcomes. The Department of Education estimates that those who earn a bachelor’s degree earn two-thirds more than those with only a high school diploma or an average of $1 million more in lifetime earnings. In addition, college graduates are far less likely to face unemployment. It’s also estimated that within the next four years, two-thirds of all new full-time jobs will require a college education.

HUD Secretary Julián Castro says, “Many families find the cost of higher education prohibitive, but know that a degree or training beyond high school is essential to be competitive in today’s 21st century global economy. By helping students access federal financial aid, HUD is lifting up students to overcome financial challenges and reach their full potential.”

HUD’s ROSS Program encourages local, innovative strategies that link public housing assistance with public and private resources to enable participating families to increase earned income, reduce or eliminate the need for welfare assistance, and make progress toward achieving economic independence and housing self-sufficiency. The ROSS for Education Program, also known as Project SOAR (Students + Opportunities + Achievements = Results), will support hundreds of young people between the ages of 15–20 to apply for U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA).

Lourdes Castro Ramírez, HUD’s Principal Deputy Assistant Secretary for Public and Indian Housing, adds, “By investing in our youth and communities, we’re helping to unlock the promise of higher education for all. Project SOAR will help students in HUD-assisted households to access opportunity and achieve their dreams.”

Project SOAR is one of several HUD initiatives to increase access to federal financial aid for HUD-assisted families and students:

• HUD is working with the Department of Education to better understand FASFA completion and educational attainment of HUD-assisted tenants through data sharing.
• Alongside the White House’s Social and Behavioral Sciences Team, HUD is exploring whether behaviorally informed messages can increase completion of the FAFSA among students with housing assistance.

For more information, visit www.hud.gov.

…read more

From:: Real Estate News

By Susanne Dwyer

Homes in zip codes with at least one good elementary school have higher values and stronger home price appreciation over the long term than homes in zip codes without any good elementary schools—where homes lost more value during the housing downturn but have seen stronger appreciation during the housing recovery of the last five years. This data comes from the recently released ATTOM Data Solutions 2016 Schools and Housing Report.

For the report, ATTOM Data Solutions analyzed 2016 home values and price appreciation along with 2015 average test scores in 18,968 elementary schools nationwide in 4,435 zip codes with a combined 45.9 million single family homes and condos. For purposes of this report, a good school was defined as any with an overall test score at least one-third above the state average.

Out of 1,661 zip codes with at least one good school, the average estimated home value as of July 2016 was $427,402, 77 percent higher than the average home value of $241,096 in 2,774 zip codes without any good schools.

“While good schools are one of the top items on most homebuyer checklists because of the quality-of-life benefit they provide, this report shows that high-performing schools also come with a financial benefit for homeowners in most markets—at least over the long term,” says Daren Blomquist, senior vice president at ATTOM Data Solutions (parent company of RealtyTrac). “Meanwhile, home prices in zip codes without any good schools tend to be more volatile, which might work to a homeowner’s financial benefit in the short term but not over the long term of at least 10 years.”

83 percent of metro areas post higher home values in zips with good schools

Out of 173 metropolitan statistical areas analyzed for the report, 143 metros (83 percent) had higher average home values in zip codes with good schools than in zip codes without good schools, including Los Angeles (65 percent higher); Chicago (65 percent higher); Atlanta (91 percent higher); New York (52 percent higher); and Miami (31 percent higher).

Metro areas where home values in zip codes with at least one good school were at least 95 percent higher than home values in zip codes without any good schools included Birmingham, Alabama (169 percent higher); Flint, Michigan (129 percent higher); and St. Louis (99 percent higher); Detroit (97 percent higher); and Baltimore (95 percent higher).

“In my experience, buyers will almost always choose to buy a home in a good school district. In turn, this creates greater demand for homes in high-performing school districts and causes these sub-markets to appreciate in value at higher rates than other neighborhoods,” says economist Matthew Gardner, covering the Seattle market where average home values were 64 percent higher in zip codes with goods schools than in zip codes without good schools. “Interestingly, we see demand for these homes from buyers without school-aged children as well because they look at the school district as an added layer of protection should home prices start to soften.

Homeowners gained $51K more since purchase in zips with good schools

Homeowners …read more

From:: Finance and Economy