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REALTORS® Care Foundation Raised Over $11,000 for Local Bergen County Charitable Organizations.
EBCBOR members and industry partners came out for our Annual Golf & Tennis Outing at the Montammy Golf Club in Alpine, NJ this past Monday. Members enjoyed a day of sport for charity followed by an evening filled with fun raffles, prizes to the best players of the day, as well as a silent auction where our members got a chance to purchase some very unique sport & film memorabilia. We thank all of our sponsors for your support, and to everyone who came out to support the REALTORS Care Foundation.
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Existing-Home Sales Flounder in August
Existing-home sales floundered in August, posting higher than one year prior but lower than in July, the National Association of REALTORS® (NAR) reports. Existing-home sales totaled 5.35 million, a 1.7 percent decrease from July but a 0.2 percent increase from one year prior. Inventory decreased 2.1 percent to 1.88 million, 6.5 percent below one year prior.
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NAR Comments on GSE Appraisal Waivers
On September 12, 2017, NAR sent a letter to the Federal Housing Finance Agency (FHFA), as well as to Fannie Mae and Freddie Mac (collectively the GSEs), commenting on the recent decision by Fannie Mae and Freddie Mac to allow for data-based valuations rather than traditional in-person appraisals in certain purchase transactions. Given recent complaints of long appraisal wait times and a lack of appraisers in certain areas of the country, NAR is supportive of innovations in the appraisal field that would help alleviate some of these issues and help the real estate market function efficiently.
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Global Investors Bypass Gateway Cities For Better Returns
Concerns about Brexit, the future of the European Union and the Chinese economy keep investors flocking to the U.S. for stability, but high prices in core markets are causing foreign buyers to look for better returns elsewhere. Gateway cities such as New York, Los Angeles and Miami are becoming overheated.
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5 Steps to Start Working Globally
As globalization continues to impact our communities, no matter how large or small, it's important for REALTORS® be prepared. Agents with global competencies and skills are the most effective in identifying these opportunities, which are very often lucrative. In fact, foreign buyers (on average) spend over $250,000 more per home than the average price of U.S. existing home sales.
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Should the iPhone X Be in Your Future?
Despite the marketing hoopla surrounding the iPhone X, which will go on sale in November, real estate professionals' decision to purchase it should be guided by its practical benefits. The less expensive iPhone 8 and 8 Plus were also unveiled alongside the X, which packs 64GB of memory and is the costliest iPhone debut to date.
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Virtual Design Tools in Real Estate
The internet has disrupted many professions, and the design trade is no exception. The proliferation of online design tools available can not only feed the imaginations of buyers but also help sellers transform their homes faster and more affordably. Here we offer this guide of six noteworthy new tools, though this isn't an exhaustive list.
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Stay Safe and Earn Big With MVP
NAR PULSE-Register for one of two safety webinars being offered during REALTOR® Safety Month and earn a free Little Red Book: Safety Rules to Live by for REALTORS® - Download, PLUS a chance to win a Guard Llama Personal Protection Kit. This Member Value Plus (MVP) Program offer expires Sept. 26! Check it out today!
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