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Appreciation Linked to Population Rise

RisMedia Consumer News - May 21, 2018 - 2:52pm

Appreciation and demand go hand in hand, and for investors, both are key to profit, according to a new report.

Assessing the association between growing interest and mounting prices, analysts at HouseCanary found that appreciation is higher where inbound migration numbers are swelling. Boise, Idaho, for example, has had a high influx of new residents, and a corresponding increase in prices across all property types—from 2010 to 2017, Boise greeted more than 57,600 new residents, while apartments appreciated 7.7 percent year-over-year, condo prices rose 7 percent year-over-year, and prices on single-family steepened 5.7 percent year-over-year.

In addition to Boise, HouseCanary found the migration pattern-price relationship in the Deltona-Daytona Beach-Ormond Beach and Orlando-Kissimmee-Sanford, Fla., metros (a combined 404,000-plus new residents); the Las Vegas-Henderson-Paradise, Nev., metro (approximately 181,900 new residents); the Sacramento-Roseville-Arden-Arcade, Calif., metro (approx. 99,200 new residents); the Salt Lake City, Utah, metro (approx. 71,200 new residents); and the Seattle-Tacoma-Bellevue, Wash., metro (310,560 new residents).

Beyond the correlation between demand and prices, apartments and condos, generally, have faster-growing prices than in the single-family segment, according to the report.

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

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Appreciation Linked to Population Rise appeared first on RISMedia.

Categories: Real Estate

Hawaii Volcano Victims Can Get Relief on Mortgage Payments

RisMedia Consumer News - May 21, 2018 - 2:37pm

(TNS)—If you live in an area of Hawaii that’s been impacted by the Kilauea volcano eruption, your mortgage lender may offer you relief. The eruption has destroyed 26 homes (at press time), and more homes are still at risk.

Wells Fargo and Bank of Hawaii have implemented disaster relief policies for those affected by Kilauea. If your home was destroyed or damaged by the eruption, call your mortgage lender to see if it’s offering assistance.

Wells Fargo will postpone payments for up to 90 days when the customer contacts them to discuss their situation.

“During this time, all negative credit bureau reporting, late fees, collection calls, and foreclosure referrals and sales are also suspended,” says Paul Gomez, vice president of Corporate Communications at Wells Fargo.

Bank of Hawaii offers a grace period for borrowers who either can’t make their mortgage payments or are facing foreclosure.

“We are definitely suspending foreclosures and evictions during this time of hardship, says Stafford Kiguchi, media representative for Bank of Hawaii. “The initial period of time is for the length of the emergency loan program, which is six months for forbearance; however, we will work with each borrower to suspend foreclosure for as long as it takes to recover their repayment capacity. If the hardship turns out to be more than a temporary situation, we have other, long-term relief programs, such as our loan modification program, which permanently lowers a borrower’s monthly payment.”

Bank of Hawaii is also making cash accessible for people in need through special loan programs. Some features include low interest rates; deferred payments for the first three months; fast approval; reduced payments, with loan terms up to 60 months; and loan amounts up to $25,000.

Qualified borrowers can use funds for:

  • Emergency supplies and living essentials
  • Home or vehicle repairs or replacement
  • Bridging working capital needs

Bank of Hawaii customers may also be eligible to receiving forbearance and extensions on loans.

When homes are damaged or destroyed by fire, even if lava flow causes it, standard homeowners insurance policies should cover the damage, says Kirk Christman, principal at the ACW Group, headquartered in Hawaii.

Standard homeowners insurance policies are usually “all risk” policies, which cover any risk except for specifically excluded perils. Excluded risks typically include events such as earthquakes, hurricanes, tsunamis and floods.

“Because most of the damage is caused by fire due to the heat from the lava, homeowners should be able to file a fire claim, which is normally covered in most policies,” Christman says.

Be sure to turn in your claim to your insurance company and let them determine coverage.

If your lender is not proactively offering forbearance or other help, you can go directly to the websites of the Federal Housing Finance Agency or the U.S. Department of Housing and Urban Development to see what type of relief you might be eligible for, and then bring it up to your lender. You also can use these sites to find the name of the lender that owns your mortgage and where to go if the company doesn’t cooperate.

Just because a lender provides “relief” does not mean it’s forgiving you for any of the mortgage debt you owe. Even with the forbearance programs backed by the government, the amount that is deferred will be owed down the road.

Be cautious of calls from people claiming to offer mortgage relief on behalf of a government agency or asking for fees upfront for a loan or service.

When talking with the lender, ask for written confirmation and contact information in case you have any follow-up questions or concerns.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

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

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Categories: Real Estate

NAR Faces Painful Past, Fights for Fairness

NAR Daily News Magazine - May 21, 2018 - 12:00am

Association leaders had a lot on their plates as they wound down the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C.,...

Categories: Real Estate

Which U.S. City Is the Most Prosperous?

NAR Daily News Magazine - May 20, 2018 - 12:00am

While coastal cities have long been hotbeds for industry development and relocating homeowners, metros in Texas are beginning to usurp them.

Categories: Real Estate

Pros and Cons of Bypassing an Appraisal

NAR Daily News Magazine - May 20, 2018 - 12:00am

Fannie Mae and Freddie Mac announced last year special rules for when a property does not need a traditional in-person appraisal, but so far, few...

Categories: Real Estate

Despite Higher Prices, Home Flippers Find Opportunities

NAR Daily News Magazine - May 20, 2018 - 12:00am

There may be few options for investors among distressed properties, but that’s not holding them back.

Categories: Real Estate

The Link Between Real Estate, Life Expectancy

NAR Daily News Magazine - May 20, 2018 - 12:00am

Developers, architects, and city planners were challenged at a recent meeting of the Urban Land Institute to help build healthier communities and...

Categories: Real Estate

Will Exurbs and Suburbs Merge?

NAR Daily News Magazine - May 20, 2018 - 12:00am

Home buyers looking to escape city living can find similar neighborhood attributes in the areas outside major metros.

Categories: Real Estate

Amazon Experience Centers Look to Transform Smart-Home Shopping

RisMedia Consumer News - May 18, 2018 - 11:01pm

Amazon is making moves yet again. As a way to market its smart-home business segment without having to invest in conventional store locations, the online marketplace giant has partnered with Lennar Corporation to provide connectivity demos of Alexa-enabled products—everything from video doorbells and smart shades to lighting and scheduled deliveries—within the homebuilder’s model homes, calling these showrooms Amazon Experience Centers.

“Amazon’s ability to bring a home to life with Alexa smart-home experiences, entertainment and services—coupled with their obsession with customer experience—is a natural extension of our Everything’s Included approach to home-building,” said David Kaiserman, president of Lennar Ventures, in statement. “We picked Amazon because of our shared commitment to customers, their Amazon experts across the country, and their ability to connect customers with thousands of service providers through Amazon Home Services.”

These Centers are already open to the public in certain Lennar communities, including in Atlanta, Dallas, Los Angeles, Miami, Orlando, San Francisco, Seattle and Washington, D.C. Within these model homes, prospective buyers can test-control thermostats, lights, shades, locks, televisions and more using Amazon’s trademark smart speaker, Echo, and Alexa AI.

“We wanted customers to experience a real home environment that showcases the convenience of the Alexa smart-home experience, great entertainment available with Prime and Home Services,” said Nish Lathia, general manager of Amazon Services, in a statement. “We are excited to extend our relationship with Lennar with the launch of Amazon Experience Centers. As one of the nation’s largest homebuilders, Lennar offers the potential to enable this experience within easy driving distance of millions of customers.”

Along with its smart speaker offerings, Amazon is also promoting Prime and Home Services, creating an intelligent home environment that is being touted as a money- and time-saver. For example, with Amazon’s Dash series, homeowners would be able to simply press a button to reorder any essentials, such as household items, favorite snack foods, pet supplies and more.

No doubt Lennar will see increased traffic to its model homes because of the partnership, but is this just Amazon’s next step in a larger campaign to fully entrench itself in the real estate industry? Its recent progressions pointing to—yes—talks of a robot give a glimpse into Amazon’s planned future for AI-run households.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Amazon Experience Centers Look to Transform Smart-Home Shopping appeared first on RISMedia.

Categories: Real Estate

CFPB Chief: ‘Not Trying to Burn the Building Down’

NAR Daily News Magazine - May 16, 2018 - 12:00am

At the 2018 REALTORS® Legislative Meetings & Trade Expo, NAR members gained insights into financial consumer protection, net neutrality...

Categories: Real Estate

Did Buyers Just Miss Their Final Chance for Low Rates?

NAR Daily News Magazine - May 16, 2018 - 12:00am

Homebuyer demand has managed to mostly shake off the effects of higher rates so far this year, but will the latest round of hikes make buyers...

Categories: Real Estate

Report: Abandoned Homes Still a Drag in Some Cities

NAR Daily News Magazine - May 16, 2018 - 12:00am

Vacancies have grown more widespread in former industrial epicenters and the nation’s “legacy” cities, according to a new report...

Categories: Real Estate

What Makes Homeowners Tackle a Remodel

NAR Daily News Magazine - May 16, 2018 - 12:00am

A new survey reveals why homeowners are sprucing up their home. Their reasons are starting to change.

Categories: Real Estate

Retirees Preferring Dog Parks Over Golf

NAR Daily News Magazine - May 16, 2018 - 12:00am

Golf and pickle ball courts may be less of a lure for retirees. Instead, they prefer a dog park nearby.

Categories: Real Estate

Voice Activated: Do You Talk to Your Tech?

RisMedia Consumer News - May 15, 2018 - 2:58pm

How many of us are talking to our tech on a regular basis?

Ken Olmstead at the Pew Research Center recently highlighted the fact that nearly half of U.S. adults (46 percent) say they use voice-controlled assistants and applications to interact with smartphones and other devices.

Just over half (55 percent) say “a major reason” they use voice assistants is to permit hands-free interaction with devices.

The Pew study affirmed that voice assistant technology is being widely used to remotely control connected systems, including “smart home” lighting and heating devices. In fact, more than a quarter (26 percent) surveyed use voice assistants to connect remotely to those apps and devices.

So where are the newest voice control technologies being integrated in 2018?

Kohler, the global designer of kitchen and bath products, has introduced Konnect. This new platform allows consumers to conveniently personalize their experience with a growing number of the company’s products through voice control.

Claiming to have delivered the first voice-activated product line for the kitchen and bath, Konnect offers support through Amazon Alexa, Google Assistant and Apple HomeKit.

Say the word and adjust the company’s lighted mirror, order up a soak with their voice-activated bathtub faucet, pick your spritz with their voice-command shower systems—and, yes, even apply a number of controls to the toilet!

Kristen Hicks at SeniorAdvisor.com says voice-activation improvements like these are helping countless homeowners age in place, by turning lights on and off, keeping grocery and to-do lists, reminding folks to take meds, changing interior temperature settings, using voice-activated technology to be sure doors are locked, and, most importantly, calling for help in an emergency. Hicks says while many home alert systems require reaching a phone or a button, a voice command can be issued without having to move.

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

The post Voice Activated: Do You Talk to Your Tech? appeared first on RISMedia.

Categories: Real Estate

Use Blog Comments to Boost Your Web Traffic

NAR Daily News Magazine - May 15, 2018 - 12:00am

One of the most overlooked and underrated ways to promote your blog or website is within the comment section of other websites and blogs, notes a...

Categories: Real Estate

The Strategic Move Behind a $1 List Price

NAR Daily News Magazine - May 15, 2018 - 12:00am

For years, a real estate professional in Edmond, Okla., had told his sellers that even if they priced their home for just a dollar, the market...

Categories: Real Estate

Old Dog Finds New Home in Coldwell Banker Ad

NAR Daily News Magazine - May 15, 2018 - 12:00am

The real estate brand champions both the work of its agents and the joy of adopting shelter pets in its latest advertisement.

Categories: Real Estate

Startup Turns Buyer Bids Into All-Cash Offers

NAR Daily News Magazine - May 15, 2018 - 12:00am

In a competitive market, some buyers are increasingly losing out to people closing deals with all cash. A startup wants to level that playing...

Categories: Real Estate

Negotiating Home Fixtures: Who Gets What?

NAR Daily News Magazine - May 15, 2018 - 12:00am

Make sure buyers don’t fall in love with a specific item in the house only find out the seller is taking it with them.

Categories: Real Estate