Southwestern Connecticut bottom three for home price malaise …

  • A home listed for sale at 300 Orchard St. in Greenwich, Conn., with the price reduced 2 percent in early February to $1.1 million. A February report by the National Association of Realtors estimated that Fairfield County was among the three metropolitan areas with the biggest depreciation in median home sale prices between 2014 and 2016. Photo: Alexander Soule / Hearst Connecticut Media / Stamford Advocate

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Southwestern Connecticut remains mired near the trough of the United States for momentum in its real estate market, as measured by the prices fetched by the median homes sold in the fourth quarter of 2016 and for the entire year.

The National Association of Realtors ranked the Fairfield County area in the bottom dozen major metropolitan areas nationally for median home sale price movement in 2016. NAR calculated the area’s median home sale last year at $373,500, off 1.1 percent from the median home sold in 2015.


Nationwide as calculated by depreciation over two years, only Atlantic City, N.J., and the New York City metropolitan areas having seen a sharper drop in median home sale values than Fairfield County’s 6.1 percent free fall, with the Milford-New Haven corridor only one rung higher at 5.8 percent.

Price comparisons in any one town can fluctuate quarter to quarter, due to the relatively small data sets involved, but over time median prices can provide an indicator of overall momentum. Across the southwestern Connecticut region in 2016, only Fairfield and Milford strung together four consecutive quarters of gains in median home sale price on a year-over-year basis, as tracked by Berkshire Hathaway HomeServices New England Properties.

Darien, Greenwich and Bridgewater suffered the inverse as the only three southwestern Connecticut towns to register year-over-year dents in the prices of the median homes sold in each quarter of 2016.

“First quarter, fantastic; second quarter, very good — it really began to taper off as we got into the third and fourth quarters,” said Bruce Baker, an agent in the Darien and Rowayton offices of William Pitt Sotheby’s International Realty, in an interview last week with Hearst Connecticut Media. “Usually in the third and fourth quarter you will find price points … begin to slide anyway.

“There is always less business on the high end traditionally — within the core price points over $2 million in the third and fourth quarters — because a lot of people spending that kind of money would rather wait and see what the new inventory is coming on the market the next year.”

The National Association of Realtors determined that more than half of the U.S. markets it analyzed are now at peak prices, with NAR tracking data back to 2005.

Alex.Soule@scni.com; 203-354-1047; www.twitter.com/casoulman

Affluent Russian buyers return to Miami real estate scene

Trump Miami 465

Trump’s Miami location

With the current White House administration on friendly terms with Russia, more affluent consumers from the country are interested in real estate within Miami.

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Since the election of President Trump, Russian interest in luxury real estate in the United States has increased by 35 percent, according to National Association of Realtors. The highest real estate purchase from a Russian buyer in Miami was a home sold for $47 million.

“Our clients purchase primarily in the $2-$50 million range,” said Daniel Pansky, director of international sales at Miami Luxury Real Estate. “We are currently working with several HNWIs from Russia that are looking to purchase a Penthouse in Miami in the $10-$50 million range.

“We also specialize in working with celebrities and sports professionals,” he said.

Russian interest in Miami
Miami Luxury Real Estate is hopeful with these latest findings in real estate from Russian consumers by the National Association of Realtors. The real estate group has congregated a series of facts regarding the uptick in investment from the demographic.

Porsche Design Tower Miami

Porsche Design Tower Miami

Russian consumers are likely interested in Miami properties due to the stability of the U.S. dollar. Local currencies within Russia are currently weaker, providing Russians with confidence regarding U.S. real estate investments.

Other factors could be the privacy, weather and security of Miami, which differ drastically from these factors within Russia.

This marks the first year in which Russians are at the top of the list for foreign consumers looking for residential real estate in Miami since 2013. This year and in 2013 Russians held the number one slot, but in 2015 the demographic was well behind Brazil, Venezuela, Argentina and Colombia, as ranked by the National Association of Realtors.

Ritz-Carlton Residences Miami Beach

Ritz-Carlton Residences in Miami Beach

There have been major recent purchases from Russian buyers for Miami property. For instance, Russian businessman Dmitry Rybolovlev purchased the Trump Mansion in Palm Beach, FL for $95 million.

A Ukrainian purchaser bought out an entire floor of the St. Regis Hotel in Miami and well-know vodka purveyor Rustam Tariko bought a $25 million home on Star Island in Miami Beach.

The most expensive home sold in Miami went to a Russian buyer for $47 million.

Reports on Russia
Once a high-growth market for the luxury sector, Russia’s geopolitical and economic climate have deflated spending in the country, but a report from ContactLab and Exane BNP Paribas shows the nation is set for a comeback.

Sanctions, the rouble’s lowered value and declining oil prices, consumer confidence and consumption fell in recent years, with luxury spending half of what it was at its highest. A number of developments, including a lowered unemployment rate and the possible removal of sanctions as leadership changes in France and the United States may help brighten the luxury market in Russia and the industry’s global outlook next year (see more).

Devalued currency rates in Russia spurred an uptick in tourism recently and the purchase of luxury accessories within the market.

Market researcher Euromonitor attributed the positive effect on the Russian market to a number of factors including fewer residents traveling abroad to buy luxury goods, as well as an influx of foreign tourists due to lower travel costs. Although Russia’s luxury sector has had its share of highs and lows, many brands have worked to capitalize on its potential (see more).

Russia’s economic growth might also be a support of the demographic’s return to Miami. Realtors at Miami Luxury Real Estate hope to corner this market.

“What separates Miami Luxury Real Estate from others is our attention to detail, super negotiating skills for buyers/sellers, and handling our clients with golden gloves,” said Maria Kuzina, broker and owner at Miami Luxury Real Estate. “Also, a professional network of lawyers, accountants and other services catering to the high-net-worth individuals.

“Our work ethic and professionalism are unparalleled,” she said.

Texas Association of Realtors announces 2016 Texas Real Estate …

The award for 2016 Texas Realtor of the Year, the Texas Association of Realtors’ most prestigious award, was presented to Dave Dalzell of Dalzell REALTORS® in Abilene. This title is bestowed annually to a member who has made outstanding contributions to the industry through involvement in his or her national, state and local Realtor organizations during their career.

The Texas Realtor Hero Award, which recognizes a Realtor who has demonstrated outstanding community service related to promoting and advancing homeownership, was awarded to Steve Crorey of Sierra Homes in Austin. A longtime advocate of expanding homeownership affordability for all Central Texans, Crorey dedicates much of his time to supporting community initiatives through the Austin Board of Realtors Foundation.

The Tom D. Morton Association Executive of the Year award was presented to Mary Leidy, chief executive officer of the Collin County Association of Realtors. Awarded only to Realtor association leaders with a long track record of service to their local association and a high level respect among industry peers, the Tom D. Morton award was bestowed to Leidy for her extensive Realtor association leadership at the local, state and national levels.

Scott Caballero of Berkshire Hathaway HomeServices PenFed Realty in San Antonio was named the 2016 Educator of the Year. An instructor for the Graduate REALTOR Institute, Caballero regularly leads education courses for the Council of Residential Specialists, Certified Real Estate Brokerage Managers, National Association of Hispanic Real Estate Professionals, and Young Professionals Network.

Coy Garrett of Coy E. Garrett Associates in Arlington received the 2016 William C. Jennings Award for the outstanding commercial real estate transaction of the year. Garrett recently spearheaded the largest and most expensive redevelopment of industrial and commercial property in Arlington’s history, anticipated to bring more than 2,000 new jobs to the area.

The 2016 Texas Real Estate Awards also honored local Realtor associations that have launched innovative programs and educational courses over the last year that keep Texas Realtors up to date with the latest legal, business marketing and industry trends. The Austin Board of Realtors, Collin County Association of Realtors, Houston Association of Realtors, MetroTex Association of Realtors and San Antonio Board of Realtors were each recognized as part of the Texas Association of Realtors’ 2016 Education Awards category.

Finally, Omega Tau Rho, the honorable fraternity for the National Association of Realtors, inducted 26 members in 2016. Omega Tau Rho recognizes Realtors and others associated with the Realtor organization who have made outstanding contributions to the U.S. real estate industry throughout their career.

About the Texas Association of REALTORS®
With more than 110,000 members, the Texas Association of REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS® and private-property owners to keep homeownership affordable, protect private-property rights, and promote public policies that benefit homeowners. Visit TexasRealEstate.com to learn more.

CONTACT: Danielle Urban
Pierpont Communications
512-448-4950
durban@piercom.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/texas-association-of-realtors-announces-2016-texas-real-estate-awards-winners-300408244.html

SOURCE Texas Association of Realtors

Related Links

https://www.texasrealestate.com/

Realtor earns Power Broker award

Marci Pittman Rose with Re/Max Real Estate Associates in Crawfordsville was awarded the Power Broker award for January 2017.  She had the most combined listings and sales volume for the month of January.

She has been with Re/Max since 2012 and first licensed in 1993. She is a member of the Metropolitan Indianapolis Board of Realtors, Indiana Association of Realtors and National Association of Realtors.

She is the mother of Paige and Treyce Pittman and is involved in the community.

Call her at 765-362-8617.

When Home Buying, Selling and Renovating, it’s an Animal House, Say Realtors®

WASHINGTON, Feb. 13, 2017 /PRNewswire/ — When making decisions about buying, selling or renovating their homes, Americans, by and large, take their pets’ needs into account, according to a new report from the National Association of Realtors®. The 2017 Animal House: Remodeling Impact report found that 81 percent of respondents said that animal-related considerations play a role when deciding on their next living situation. 

“In 2016, 61 percent of U.S. households either have a pet or plan to get one in the future, so it is important to understand the unique needs and wants of animal owners when it comes to homeownership,” said NAR President William E. Brown, a Realtor® from Alamo, California and founder of Investment Properties. “Realtors® understand that when someone buys a home, they are buying it with the needs of their whole family in mind; ask pet owners, and they will enthusiastically agree that their animals are part of their family.”


It's an Animal House

It’s an Animal House


In fact, according to the survey, 99 percent of pet owners said they consider their animal part of the family, and this becomes apparent in the sacrifices pet owners are willing to make when it comes to buying and selling homes. Eighty-nine percent of those surveyed said they would not give up their animal because of housing restrictions or limitations. Twelve percent of pet owners have moved to accommodate their animal, and 19 percent said that they would consider moving to accommodate their animal in the future.   

Realtors® who were surveyed indicated that one-third of their pet-owning clients often or very often will refuse to make an offer on a home because it is not ideal for their animal. Realtors® also noted that 61 percent of buyers find it difficult or very difficult to locate a rental property or a homeowners association that accommodates animals. 

When it comes to selling, 67 percent of Realtors® say animals have a moderate to major effect on selling a home. Approximately two-thirds of Realtors® say that they advise animal owning sellers to always replace things in the home damaged by an animal, have the home cleaned to remove any animal scents and to take animals out of the home during an open house or showing.

Nearly half of all survey respondents, 52 percent, indicated that they had completed a home renovation project specifically to accommodate their animal. Of those who undertook projects, 23 percent built a fence around their yard, 12 percent added a dog door and 10 percent installed laminate flooring. Ninety-four percent of consumers indicated that they were satisfied with their renovation; 58 percent indicated they have a greater desire to be at home and 62 percent enjoy spending more time at home since completing their renovation.

When it comes to the enjoyment homeowners gain from these projects, fencing in a yard and installing laminated floors rated highest, both receiving Joy Scores of 9.4; Joy Scores range between 1 and 10, and higher figures indicate greater joy from the project. Adding a dog door came in a close second with a Joy Score of 9.2.

A majority of surveyed animal owners, 83 percent, indicated that they own a dog, which helps explain the overwhelming popularity of dog-related renovation projects. Forty-three percent of those surveyed said they own a cat, 9 percent own a bird, reptile, amphibian, arthropod, small mammal, or miniature horse, 8 percent a fish and 5 percent own a farm animal.

NAR members were also surveyed about their relationships with animals, with 80 percent of Realtors® considering themselves animal lovers and 68 percent indicating that they have pets of their own. Twelve percent of Realtors® surveyed volunteer for an organization that helps animals, and 21 percent plan to volunteer in the future.  

For more home improvement ideas and solutions, visit www.Houselogic.com or join the pet-friendly conversation on social media using the hashtag #realtorpets.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the “News, Blogs and Videos” tab on the website.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/when-home-buying-selling-and-renovating-its-an-animal-house-say-realtors-300406155.html

SOURCE National Association of Realtors

Related Links

http://www.realtor.org

NAR Tech Edge Events Keep Realtors® Apprised of Latest Tools

WASHINGTON, Feb. 14, 2017 /PRNewswire/ — Technology is transforming how Realtors® conduct business and communicate with clients. Now more than ever, Realtors® know the importance of staying up-to-date with the new and emerging technologies that are essential to the real estate business. To help Realtors® stay well informed of the latest business technology skills and trends changing the real estate industry, the National Association of Realtors® is continuing its one-day technology conference series, NAR Tech Edge.

NAR Tech Edge events will take place in cities across the U.S. starting in early 2017. NAR speakers and local technology experts will present sessions on topics including mobile marketing, online reputation management, content strategy, Google and cloud computing, social media, the importance of photo and video and much more.

“NAR Tech Edge introduces Realtors® to the latest technology trends that can help grow their business and better serve their clients,” said President William E. Brown, a Realtor® from Alamo, California and founder of Investment Properties. “These one-day, high energy conferences are a wonderful opportunity for Realtors® who are eager to expand their understanding and use of the most current web-based and mobile technologies.”

According to the 2016 NAR Member Profile, technology remains an essential aspect of how Realtors® manage their business. Nearly nine in 10 members currently use a smartphone with wireless e-mail and Internet capabilities. More than two-thirds of all Realtors® reported having their own website, and 94 percent use email as their primary form of communication with clients.

Presenters and emcees for NAR Tech Edge’s 2017 tour include Realtor® Bill Lublin, CEO of the Social Media Marketing Institute and Century 21 Advantage Gold, who is a thought leader for his insights into technological tools and their real estate applications; NAR Director of Member Engagement Nobu Hata, an industry expert in technology, marketing and communications trends in the real estate industry; Amy Chorew, vice president of Learning at Better Homes Gardens Real Estate, a technology trend expert, author, social media maven and Realtor®; and Jeff Lobb, founder and CEO of SparkTank Media, an international real estate speaker, innovator and consultant, who will share how to best leverage and utilize today’s robust, cloud-based social media and marketing applications.

Following is the schedule for the 2017 NAR Tech Edge events:

  • March: Pembroke, Massachusetts
  • April: Billings, Montana and San Jose, California
  • May: Tulsa, Oklahoma
  • June: White Plains, New York
  • July: Tampa, Florida
  • September: Parsippany, New Jersey
  • October: Albuquerque, New Mexico
  • November: Baton Rouge, Louisiana

For more information and to register, visit www.nartechedge.com. Media and non-NAR members are welcome to attend.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.nar.realtor. This and other news releases are posted in the “News, Blogs and Videos” tab on the website.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nar-tech-edge-events-keep-realtors-apprised-of-latest-tools-300407063.html

SOURCE National Association of Realtors

Related Links

http://www.realtor.org

Ellen Mitchel Elected 2017 Broward President of the MIAMI …

The MIAMI Association of REALTORS® (MIAMI) has elected Ellen Mitchel, CRS, CDPE as its 2017 Broward Council president.

Miami, FL (PRWEB) February 08, 2017

The MIAMI Association of REALTORS® (MIAMI) has elected Ellen Mitchel, CRS, CDPE as its 2017 Broward Council president. She and the entire Board of Directors were installed Feb. 3 during MIAMI’s 2017 Inaugural and Awards Celebration at the Seminole Hard Rock Hotel Casino.

The Broward Council is dedicated to leadership, the real estate profession and the communities they serve. Broward leaders impact key policy decisions and stay informed about important issues affecting the industry. With 45,000 members, MIAMI is the largest local Realtor association in the nation.

“MIAMI membership has risen steadily in Broward County, and now includes more than 11,000 members,” Mitchel said. “As 2017 Broward Council leadership, we look forward to staying active and visible in local real estate issues while promoting South Florida real estate.”

Mitchel is the owner and co-founder of RE/MAX Executive Realty in Downtown Hollywood. She co-founded the firm in 2001. She works with home buyers, sellers and investors from around the world and has a dynamic team that is multilingual (Spanish, German, Russian, Polish and French).

In addition to her volunteer work with MIAMI, Mitchel serves as a director for Florida Realtors and the National Association of Realtors. She was inducted into the RE/MAX Hall of Fame, The Chairman’s Club and The Master Broker’s Forum. She also volunteers for Broward Outreach Center and Children’s Miracle Network among others.

Ellen is a wife and mother of a blended family of seven. She is very active in the community where she lives, works and plays. Ellen enjoys horseback riding, boating, reading, playing with her three rescue pups and spending time with her family.

Announcing the 2017 Broward County Board of Governors

Joining Mitchel are: Broward President-Elect Patricia C. Anglero of Galleria International Realty; 2016 Broward President Donna Reid, AHWD of Coldwell Banker Residential Real Estate; Governor Israel V. Ameijeiras, CRS, CRB, SFR of LMG Realty, Inc.; Governor Jimmy Branham of The Keyes Company; Governor David Dweck, ABR, CIPS, GRI, MRP of Southeast Regional Realty; Governor Saria Finklestein, CLHMS of Keller Williams Partners Realty; Governor Daniele S. Gordon, SRS of Coldwell Banker Residential Real Estate; Governor Jonathan Keith of Coldwell Banker Residential Real Estate; Governor Nathan Klutznick of The K Company Realty, LLC; Governor Sharon R. Lindblade, CIPS, PMN, PSA of Century 21 Hansen Realty; Governor Neal Oates Jr., CIPS, CLHMS, SFR of World Renowned Real Estate; Governor Thamara Pichardo, ABR, CIPS, GRI, SRS, AHWD of Realty World; Governor Venus Proffer of Coldwell Banker Residential Real Estate; Governor Patrick Simm, ABR, CRS, GRI, e-PRO of Keller Williams Realty; Governor Audrey Vergez, SFR, CNE, CSMS of Berkshire Hathaway HomeServices Florida Realty; Governor Lisa Vizcaino, CDPE, CHS, CRS of Realty World South Florida; Governor Ron Hanks of The Keyes Company, Inc.

Danielle Y. Clermont is Senior VP of Broward, Palm Beach Martin Counties. Deborah Boza-Valledor, CIPS, CRB, CRS, GRI, TRC, RSPS, AHWD, serves as Chief Operating Officer and Chief Marketing Officer for MIAMI. Teresa King Kinney serves as the Chief Executive Officer of the organization.

About the MIAMI Association of REALTORS®

The MIAMI Association of REALTORS® was chartered by the National Association of Realtors in 1920 and is celebrating 97 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations, the Residential Association, the Realtors Commercial Alliance, the Broward Council, the Jupiter Tequesta Hobe Sound (JTHS) Council, the Young Professionals Network (YPN) Council and the award-winning International Council, it represents nearly 45,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S., and has official partnerships with 160 international organizations worldwide. MIAMI’s official website is http://www.miamire.com

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For the original version on PRWeb visit: http://www.prweb.com/releases/2017/02/prweb14041057.htm

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Abilene man named state’s Realtor of the Year

Local Realtor Dave Dalzell was given the Texas Association of Realtors’ highest honor, Texas Realtor of the Year, at the association’s annual Winter Meeting Monday in Austin.

The award is given annually to a Realtor who has made outstanding contributions to the industry through involvement in his or her national, state and local associations.

Dalzell has 40 years of experience in real estate in Texas real estate, joining his parents as a Realtor for Ray Scott Company in 1977.  In 1983, he established Dalzell Realtors, a full-service brokerage and property management company with  two offices in Abilene.

His real estate experience includes serving as chairman of TAR in 2004, leader of the TAR Housing Opportunity Foundation from 2004 to 2010, president of the Abilene Association of Realtors in 1986 and 2013, and numerous leadership roles with the National Association of Realtors.

Dalzell was appointed by Gov. Rick Perry as advisory board chairman of the Real Estate Center at Texas AM University in 2008 and served on the board of directors for the West Central Texas Workforce Board in 2009.

Locally, Dalzell served on the Abilene Chamber of Commerce board of directors from 1999 to 2015 and has worked with Meals on Wheels where he served on the board of directors for 27 years, twice as chairman.

His awards include Abilene Realtor of the Year, the Texas Realtor Hero Award and the Above and Beyond award for his support of employees in the National Guard and Reserve.

Dalzell grew up the son of a preacher. At age 9, he helped his family renovate a community college to open Magic Valley Christian College in Idaho.

He served as student body president during his time at Columbia Christian College in Portland, Oregon. When his parents relocated to Texas, he transferred to Abilene Christian University.

After earning his bachelor’s degree from ACU, Dalzell worked at KRBC radio for 10 years as a morning talk show host and disc jockey, according to a video shown at the program. Dalzell also owned Dalzell Advertising for 12 years, and was a partner in an insurance firm.

Dalzell’s passion for real estate has combined with a passion for education, the video stated. He taught real estate for five years at Cisco college, 12 years at Abilene Christian University and since 1986 has been a senior instructor for the Realtor Institute of TAR.

When Home Buying, Selling and Renovating, it’s an Animal House …

WASHINGTON, Feb. 13, 2017 /PRNewswire/ — When making decisions about buying, selling or renovating their homes, Americans, by and large, take their pets’ needs into account, according to a new report from the National Association of Realtors®. The 2017 Animal House: Remodeling Impact report found that 81 percent of respondents said that animal-related considerations play a role when deciding on their next living situation. 

“In 2016, 61 percent of U.S. households either have a pet or plan to get one in the future, so it is important to understand the unique needs and wants of animal owners when it comes to homeownership,” said NAR President William E. Brown, a Realtor® from Alamo, California and founder of Investment Properties. “Realtors® understand that when someone buys a home, they are buying it with the needs of their whole family in mind; ask pet owners, and they will enthusiastically agree that their animals are part of their family.”


It's an Animal House

It’s an Animal House


In fact, according to the survey, 99 percent of pet owners said they consider their animal part of the family, and this becomes apparent in the sacrifices pet owners are willing to make when it comes to buying and selling homes. Eighty-nine percent of those surveyed said they would not give up their animal because of housing restrictions or limitations. Twelve percent of pet owners have moved to accommodate their animal, and 19 percent said that they would consider moving to accommodate their animal in the future.   

Realtors® who were surveyed indicated that one-third of their pet-owning clients often or very often will refuse to make an offer on a home because it is not ideal for their animal. Realtors® also noted that 61 percent of buyers find it difficult or very difficult to locate a rental property or a homeowners association that accommodates animals. 

When it comes to selling, 67 percent of Realtors® say animals have a moderate to major effect on selling a home. Approximately two-thirds of Realtors® say that they advise animal owning sellers to always replace things in the home damaged by an animal, have the home cleaned to remove any animal scents and to take animals out of the home during an open house or showing.

Nearly half of all survey respondents, 52 percent, indicated that they had completed a home renovation project specifically to accommodate their animal. Of those who undertook projects, 23 percent built a fence around their yard, 12 percent added a dog door and 10 percent installed laminate flooring. Ninety-four percent of consumers indicated that they were satisfied with their renovation; 58 percent indicated they have a greater desire to be at home and 62 percent enjoy spending more time at home since completing their renovation.

When it comes to the enjoyment homeowners gain from these projects, fencing in a yard and installing laminated floors rated highest, both receiving Joy Scores of 9.4; Joy Scores range between 1 and 10, and higher figures indicate greater joy from the project. Adding a dog door came in a close second with a Joy Score of 9.2.

A majority of surveyed animal owners, 83 percent, indicated that they own a dog, which helps explain the overwhelming popularity of dog-related renovation projects. Forty-three percent of those surveyed said they own a cat, 9 percent own a bird, reptile, amphibian, arthropod, small mammal, or miniature horse, 8 percent a fish and 5 percent own a farm animal.

NAR members were also surveyed about their relationships with animals, with 80 percent of Realtors® considering themselves animal lovers and 68 percent indicating that they have pets of their own. Twelve percent of Realtors® surveyed volunteer for an organization that helps animals, and 21 percent plan to volunteer in the future.  

For more home improvement ideas and solutions, visit www.Houselogic.com or join the pet-friendly conversation on social media using the hashtag #realtorpets.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the “News, Blogs and Videos” tab on the website.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/when-home-buying-selling-and-renovating-its-an-animal-house-say-realtors-300406155.html

SOURCE National Association of Realtors

Related Links

http://www.realtor.org

Millennials’ return to real estate market forecasts good year ahead

SPRINGFIELD — For those buying and selling real estate, 2016 was a “fantastic” year, and projections for 2017 indicate it should be another good year.

Robert P. Molta, broker and owner of Real Living Realty Professionals with six offices throughout the Pioneer Valley, says sales in 2016 were “fantastic,” up 10 to 12 percent from 2015. This was true for all types of properties including homes, condominiums, land and commercial properties.

Last year’s record-low interest rates helped buyers, and limited supplies of housing helped sellers and enabled properties to turn over quickly.

“It was a sellers’ market, but it was absolutely a buyers’ market, too,” Molta enthused. “It was the best of both worlds.”

The rate on a 30-year mortgage recently passed the 4.27 percent mark, up more than half a percent from early October, according to the Mortgage Bankers Association.

“The increase may encourage buyers who have been on the fence to make a move before there are further rate increases,” commented Vincent M. Walsh, vice president and managing broker for Coldwell Banker Residential Brokerage in Longmeadow.

Last year, low inventory drove prices up as some properties had more than one offer.

Multiple Listing Service statistics indicate that the number of closed properties in the Realtor Association of Pioneer Valley was up about 10.5 percent in the first 11 1/2 months of 2016 over all of 2015. The average price was up less than $1,300. The average days on the market dropped from 125 in 2015 to 111 by mid December.

[enhanced link]

According to Walsh, the most sought-after real estate was owner-occupied single family, multi-family and condos.

Sales of existing homes are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home, according to a 2017 housing forecast update from the National Association of Realtors.

Even with this year’s slow dip in buyer enthusiasm, existing-sales are still expected to close 2016 3.3 percent higher than 2015 and reach around 5.42 million – the best year since 2006 (6.47 million), according to a press release from the association.

In 2017, sales are forecast to grow roughly 2 percent to about 5.52 million. The national median existing-home price was expected to rise to about 5 percent in 2016 and 4 percent in 2017. By the end of this year, mortgage rates are expected to reach about 4.6 percent.

In addition, millennials are beginning to get back into the housing market. “They sat on the sidelines for a while because they didn’t have the jobs,” Molta said, adding his expectation that new housing and new construction to increase this year and through 2020.

In Western Massachusetts specifically – an area Molta said does not see large increases or decreases in sales – “we’re fairly stable.” He projects sales will be up 10 percent over 2016.
Richard R. Sawicki Jr., owner of Sawicki Real Estate in Amherst and president of the Realtor Association of Pioneer Valley, anticipates that the real estate market will remain stable with modest increases in price and sales volume similar to 2016 with slow and steady growth, though lack of inventory will continue to be a challenge.

Pioneer Valley single-family home sales were up 10.7 percent with 4,406 homes sold from January through October 2015 and 4,879 sold from January through October 2016. The median price was up only slightly — from $199,900 to $200,000.

“The majority of the sales in the valley are single-family, residential,” Sawicki pointed out.

New listings were down 12.2 percent from October 2015 to October 2016.

[enhanced link]

Persons looking to buy in 2017 should seek advance approved for a mortgage, be certain of their credit score and work with a Realtor who can guide them with all the aspects of the purchase, Molta suggested.

“Working with a real estate professional is also important because a Realtor will be able to identify homes that are available for sale – and sometimes even before they hit the market – and will also help with the offer and negotiation process once a home is selected,” Walsh said.

Sawicki’s advice: “Act soon, inventory to remain low. Rates expected to rise.”
Sellers also should work with a Realtor and set an appropriate price for their property. “Pricing is really important in any real estate market,” Molta said.

Sawicki added, “Price it well and in move-in condition.”

Walsh reminds sellers to make necessary repairs to their properties before putting them on the market.

Finally, Molta said sellers must stage their property to give the best appeal, declutter and ensure curb appeal. “Flip the script,” he said. “What would you like to see if you were purchasing the home?”