Real Estate’s BFF: A Dog?

Real Estate’s BFF: A Dog?

A five-year-old Shih Tzu Cavalier cross named Tiffany is becoming a top model in real estate photos in Australia. The dog’s owner Tracey Ashley, a real estate pro with RE/MAX United Vision in Carina, Queensland, is using the small dog throughout the photos she shoots of her listings to appeal to dog-loving home shoppers.

During her own house-hunt two years ago, Ashley says “I found it very hard to work out which properties were pet-friendly or weren’t. I thought, wouldn’t it make it easier for buyers if I could put Tiffany in my properties that are pet-friendly.”

Ashley says she received “nearly double” the amount of page views of properties that her dog Tiffany appears in compared to those where she doesn’t. So she’s now letting every one of her sellers choose if they want the dog to appear in the listing photos.

“Sellers are ringing up and saying, we’ve seen your photos with Tiffany, can we get you to sell our house with her in it,” Ashley told Mashable.com. “It’s kinda snowballed … we even get buyers asking us if Tiffany has been in other listings.”

And just so potential buyers aren’t left wondering the whereabouts, Ashley says she’ll bring Tiffany to open houses to greet buyers too.

Tiffany – who Ashley markets as the “Pink Property Pooch” – has her own Facebook page too with property listings.

Source: “This Adorable Dog Is Helping Sell Real Estate in Australia,” Mashable.com (March 7, 2016)

Signs of a Bad Moving Company

Signs of a Bad Moving Company

About 16.5 million households – or 38.7 million Americans – move annually. But Americans need to carefully screen those who help them move to make sure all goes smoothly in relocating their belongings.

U.S. News & World Report recently highlighted these three warning signs when choosing a moving company:

The price is significantly lower than competitors.

Don’t just go with the cheapest quote. You may want a deal, but carefully consider what’s behind that lower-priced quote from a moving company — that could be 20 to 30 percent lower than any other companies’ offers. “While finding an affordable mover doesn’t mean you’re about to get scammed, if you feel like you’ve landed an unbelievable deal, it probably is unbelievable,” U.S. News & World Report notes. The quote may be lower, but some consumers later complain that prices mysteriously triple on moving day, items are stolen or missing, or they find lots of damage.

The required deposit is high.

Movers may ask for a deposit fee, but that fee shouldn’t be above 10 percent of the job cost, says T.J. Peterson, social media coordinator for Oz Moving and Storage, based in New York. Oz Moving and Storage, as comparison, charges a flat $50 deposit. “It’s not unreasonable for a mover to ask for a deposit of $100 or $200 to cover their costs if you change your mind, but if a mover wants more upfront – like 25 percent of the cost of the move – don’t pay it,” warns Nancy Conner in her book, Buying a Home: The Missing Manual.

There’s very little information about the company.

Finding a moving company in the Yellow Pages may give you some assurance that it must be legitimate since it’s advertising there, but don’t assume by just an ad. To check if the company is reputable, ask for itsDepartment of Transportation numbers. “If a company cannot prove [it is] registered with the state and United States Department of Transportation, that’s a warning sign,” Peterson told U.S. News & World Report. Also, consumers should be leery of any company that doesn’t have any Better Business Bureau profile or no reviews.

“A few hiccups for any reputable company is not a warning sign,” Peterson says. “It is an inevitable side effect of being in business.” But nothing about the company should be more of a warning sign.

Source: “3 Signs of a Bad Moving Company,” U.S. News & World Report (Feb. 26, 2016)

CFPB Looks to Expand ‘Rural’ Designated Areas

CFPB Looks to Expand ‘Rural’ Designated Areas

The Consumer Financial Protection Bureau announced that it is launching a new application process that could add more “rural” areas under its federal consumer financial law for mortgage lending. The application process will start March 31.

The agency will accept applications for areas outside rural counties or census blocks to be considered as rural. If eligible, these areas may be suitable for certain exemptions and provisions from certain mortgage lenders.

“This step will allow the Bureau to consider whether there are smaller institutions that merit a designation as ‘rural’ lenders but do not qualify under current guidelines,” says Richard Cordray, CFPB’s director. “The Bureau is taking quick action to fulfill out responsibility to Congress and implement the law.”

To request a rural designation, applicants will be required to identify the area and provide information to help CFPB evaluate the application under the Helping Expand Lending Practices in Rural Communities (HELP) Act. The application process is open until Dec. 4, 2017.

View CFPB’s amendment in its entirety at its website.

Source: Consumer Financial Protection Bureau

Single Females Are a Growing Market Force

Single Females Are a Growing Market Force

Since the early 1990s, single women have outnumbered their male counterparts, snatching up real estate at nearly double the rate, according to the National Association of REALTORS®. But this year they’re on a roll, and experts don’t expect that to stop anytime soon.

Single women accounted for 15 percent of all home buyers—the second largest segment of home buyers behind married couples, according to NAR’s 2015 Profile of Home Buyers and Sellers. Many experts predict their numbers will continue this increase in coming years, particularly as their average incomes have significantly risen over the last few years.

The median age of single female home buyers is 50, according to NAR. The majority are drawn to single-family homes with three bedrooms and two bathrooms. Location matters, too. “They often want to buy to be close to friends or family,” says Jessica Lautz, NAR’s managing director of survey research and communications.

Mary MacDiarmid, a broker with @properties in Chicago, told The Chicago Tribune she’s worked with several single women purchasing condos. She says about a decade ago, this type of clientele routinely brought their parents to showings. Now, she says they do it on their own: “They’re not looking for someone else’s approval.”

Source: “2016 Home Buying: All About the Single Ladies?” The Kansas City Star (Feb. 19, 2016) and “Single Women Are Big Homebuyers in Chicago,” Chicago Tribune (Feb. 28, 2016)

Gray is the new Hottest Color in Home Decor

Gray is the new Hottest Color in Home Decor

White still remains the top seller when it comes to color for most home furnishings but gray may soon edge it out. Home owners are reaching for shades of gray to decorate their spaces, with grays serving as a new neutral in all tones, from soft silvers to dark charcoals.

“Gray plays well with other colors,” Dee Schlotter, a color brand manager for Glidden Paints, told The Washington Post.

Kate Watson-Smyth, a London-based interior blogger, told The Washington Post that “gray gives life to everything in a room. Gray makes everything look more modern and fresh. Gray makes all your possessions pop out. It gives them presence. A good picture on a gray wall — it’s amazing!”

Gray is edging out the beige era. As Jackie Jordan, director of color marketing at Sherwin-Williams, notes “we were beiged out.”

Home furnishing stores – like Ethan Allen, West Elm, and Restoration Hardware – are showing gray throughout their furnishings. Also, gray kitchen cabinets are becoming more common as well as gray flooring.

Jackie Dettmar of the carpeting manufacturer Mohawk Group, says shades of gray have become some of their top sellers for the last five years. Also, Kohler now offers five shades of gray in its plumbing fixtures for bathrooms and kitchens.

Source: “The Gloomiest Color on the Spectrum Is Now the Hottest for Your Home,” The Washington Post (Feb. 25, 2016)

The Oscar for Best Home Feature Goes To…

The Oscar for Best Home Feature Goes To…

Which home features are considered the “best” when it comes to helping a home sell the fastest?

To sort out which features are winners for buyers, realtor.com® researchers analyzed millions of listing records over the past three months to pinpoint the number of days each home stayed on the market and the number of page views each listing received on realtor.com®. From there, researchers narrowed their list to the homes that generated the most interest and sold the fastest and looked at their architectural style and amenities.

Based on some of the patterns that emerged, here are the home styles, views, specifications, and amenities that buyers crave right now.

Best housing style: Spanish-style  

Spanish-style homes spent a median of 47 days on the market, half the national average of 93 days. This home style is found mostly in California coastal cities, and comprises just 1 percent of for-sale listings, yet it proves popular with buyers. Here’s a breakdown of the housing styles and median days on the market and list price:

• Spanish: 47 days; $550,000
• Traditional: 84 days; $233,000
• Ranch: 95 days; $179,000
• Craftsman: 103 days; $350,000
• Victorian: 122 days; $259,000

Best view: City skylines

A home with a view often attracts buyers, but homes with an urban view may offer the best view of all. Homes with urban views spent 83 days on the market — less than other views studied. Ocean views, however, have a much heftier median list price at $749,000 but they spend about 98 days on the market. Here’s a breakdown on views, along with median days on the market and list price:

• City views: 83 days; $420,000
• Golf course views: 90 days; $412,000
• Lake view: 95 days; $359,000
• Mountain view: 96 days; $365,000
• Ocean view: 98 days; $749,000

Best home amenity: Stainless steel 

Certain interior features help speed up home sales. Homes with stainless steel appliances tend to sell 15 percent faster than other homes. The popularity of fireplaces, on the other hand, may show some signs of waning. Here’s a breakdown of the hottest amenities, along with median days on the market and list price:

• Stainless steel: 79 days: $300,000
• Granite counter: 82 days; $320,000
• Open kitchen: 83 days; $269,000
• Finished basement: 89 days; $260,000
• Fireplace: 94 days; $290,000

Best location: Next to a good school

Location is a big part in real estate, and homes near good schools tended to sell the fastest than homes that promoted they were near other things, like shopping or the hospital. Here’s the breakdown of the hottest location, along with median days on the market and list price:

• Good school: 76 days; $330,000
• Stadium: 77 days; $250,000
• Shopping: 79 days; $217,000
• Transportation: 88 days; $280,000
• Hospital: 95 days; $192,000

Best price range: $200,000-$250,000

Lower-priced homes have the most fans. Homes listed in the $200,000 to $250,000 price range sold in a median of 83 days — much faster than other price points. Here’s the breakdown of hottest price range, along with median number of days on the market and list price:

• $200,000-$250,000: 83 days
• $150,000-$200,000: 86 days
• $250,000-$300,000: 89 days
• $1 million-$2 million: 118 days
• $2 million-$5 million: 133 days

Best size: 1,500 to 2,000 square feet

Move over McMansion, smaller homes are showing more market popularity right now. While 8,000-square-foot mansions capture about 30 percent more page views on realtor.com® than 1,000-square-foot homes, the smaller home trumps when it comes to selling faster. Here’s the breakdown:

• 1,500-2,000 square feet: 86 days; $194,000
• 2,000-2,500 square feet: 90 days; $260,000
• 3,000-3,500 square feet: 101 days; $400,000
• 5,000-5,500 square feet: 127 days; $2 million
• >100,000 square feet: 173 days; $3.45 million

Source: “The Features That Help a Home Sell Fastest — and the Ones That Don’t,” realtor.com® (Feb. 29, 2016)