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The Best Opportunities the Trump Administration Brings to Housing

Feb 19, 2017 by

For the first time in history, the United States elected a president without any political or military experience. For some, this means a promising departure from the status quo and the rapidly increasing feelings of disenfranchisement from our political system. For others, a Trump presidency encourages apprehension, as his directives are considerably less predictable than those of a seasoned politician. The actuality of a Trump Administration still prompts more questions than clear policy directives; however, the new president’s lifelong career as a builder and real estate investor could provide some fresh prospects for a growing, but fragile, housing industry. While fumbling GSE reform or following through on his promise for mass deportations would cause major setbacks to the housing market, below are where some of the best opportunities might exist.

Housing Supply
Trump likes to build things, and if you ask 100 real estate agents from around the country what is the one thing that would help them sell more homes, the most common answer would be increasing available housing inventory, especially in the affordable price ranges. The home-building industry was nearly decimated during the housing crisis. New-home construction was almost non-existent between 2008 and 2013. During that same period of time, the country added nearly five million new households. The net result of this shortage of housing supply has been a sharp increase in home prices and an equally sharp decrease in affordability, leaving millions of would-be homeowners on the sidelines.

This has proven to be a difficult problem to solve, as rising construction costs and an increasingly complicated regulatory environment have made the business prospect for the construction of affordable homes unviable in many markets. The Trump Administration could, by providing supply-side solutions to our housing inventory challenges, inject a powerful boost to the industry and go a long way toward reversing the trend of decreasing homeownership rates across the country.

Financial Regulations
Members of the new administration have promised, and have already begun, an overhaul of our financial regulations. Many leaders in the housing finance industry, regardless of their political leanings, believe the market would benefit by some selective regulatory relief. While nobody wants a return to the irresponsible lending that proliferated in the last decade, pulling back on a few regulatory levers would stimulate demand, especially in a number of markets where an increase in qualified buyers is most needed.

Consumer Confidence
In the years following the Great Recession, many would-be homebuyers have been understandably cautious to leap back into the housing market. This has been especially true for our minority and millennial populations, whose introductions to the housing market were likely during the worst market conditions in a century. While the shortage of housing inventory has made this issue less noticeable, as the market continues to normalize, a shortage of buyers will become more problematic.

The new president could help improve this perspective by using his formidable promotional talents to advise the country that it is safe to get back into the housing market, and that purchasing a home is still one of the best ways to build wealth and improve your quality of life. Because purchasing a home is as much about emotion as anything else, one of the best things our new commander-in-chief can do for the housing industry is to also be the “cheerleader-in-chief” for buying a home. Given that housing represents about 16 percent of our overall economy, President Trump should have the appropriate motivation to do exactly that.

Gary Acosta is co-founder and CEO of the National Association of Hispanic Real Estate Professionals (NAHREP) and co-founder of The Mortgage Collaborative.

For more information, please visit www.nahrep.org.

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

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How to Adjust to An Empty Nest

Feb 18, 2017 by

Here are some strategies to help with the transition to an empty nest.

The post How to Adjust to An Empty Nest appeared first on RISMedia.

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Barry Habib on Recent Fed Talks

Feb 18, 2017 by

The Fed Chief recently came out and said some things about their plans for rates and MBS investments.  Tune in today to see what Barry Habib has to say about the recent Fed talks. Click HERE to try MBS Highway

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Ask the Expert: Why Should I Bother Having a Business Plan?

Feb 17, 2017 by

Today’s Ask the Expert column features Arthur Darmanin, CEO of Sellstate Realty Systems Network, Inc.

Q: Why should I bother having a business plan?

A: It may be hard to believe, but your success or failure may depend on having a good business plan with a budget.

Whether you feel you’re doing just fine without one, you aren’t currently earning enough to make a business plan worthwhile, or you’re simply too new in the business to have one, a business plan will be the foundation of your business.

Just imagine if you were embarking on a trip without a destination, map, or clearly defined path to follow. How would you ever figure out where you’re going, or how to get there? You would likely continue to wander aimlessly until you were exhausted and frustrated before ultimately giving up. You must know where you’re going and how you’re going to get there.

There are many different ways to create a business plan and many different styles to choose from. Some are very simple, while others are extremely detailed and complex.

If you’re ready to put together your very own business plan, there are seven simple steps you must follow:

  1. Calculate your personal expenses. This is how much money you need every month to meet your personal obligations.
  1. Calculate your business expenses. Add office fees, association fees, marketing, etc., together to come up with your total monthly obligations.
  1. Project your income. First, calculate any income you may have from investments, spousal income, etc. Then, take the average commission per side and figure out how many closings you need to break even.
  1. Calculate your ROI from all previous closings and adjust accordingly. For example, if buying certain advertising produces very poor results and the ROI on the leads/closings isn’t very good, get rid of it and invest more where your ROI is best.
  1. Monitor and adjust your budget regularly. I cannot emphasize enough the importance of reviewing and adjusting your budget on a monthly basis.
  1. Avoid long-term commitments that have no termination provisions. Do not commit long-term without the option to terminate. Even in cases where you’re comfortable with the ROI, an escape clause is wise. For example, if you sign a one-year contract on what appears to be a great lead generation tool that a friend is using with great success only to find out it’s not working in your area, you’re stuck.
  1. Do a quick and simple calculation on where your business is coming from and how you can increase it. If you’re a lister and you have success with FSBOs, calculate how many calls/appointments it takes to get a listing and how many will sell. For example, if it takes 20 calls to book five appointments to get two listings and one sale, you will need X more calls to get XY appointments. The same goes with open houses, etc.

No matter how your business is doing, or how long you’ve been doing it, a business plan is an absolute must.

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

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

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Loan Officers Get Your FREEDOM Back!

Feb 17, 2017 by

Today’s show is a little self serving so please indulge us.  There have been several changes to the PreApp1003 product that we felt you have to know about.  We’ll be back on Monday with riveting real estate and mortgage news, but today we wanted to share these amazing upgrades with you.  So Loan Officers – […]

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Facebook Ads Made Easy – Part 4: Creating Ads and Reviewing Your Insights

Feb 16, 2017 by

When telling a story, you want to create a message that resonates with audiences. Consider this an essential part of creating ads within your Facebook campaign, but instead of telling a story with words, tell it with images. As a real estate pro, you should understand the power of online marketing: According to the NAR 2016 Profile of Home Buyers and Sellers, 51 percent of homebuyers found their home online. Buyers don’t want to read descriptions; they want to see images and imagine themselves living in the home. That is exactly the type of technique you’ll need to implement in your Facebook ads.

Get Creative
The final step in creating your campaign is the ‘Ad’ section. This is where you choose which photos and/or videos will show in your audience’s news feed. You are not limited to just photos or videos; you can design carousel, slideshow, or canvas ads, too.

Carousel and slideshow ads are very similar; they both showcase multiple images and/or videos within a single ad. However, a slideshow runs a continuous loop (like a video) and a carousel is a set of images/videos on individual cards which a person must swipe through (up to 10 allowed).

Start by clicking on an ad format you want to create.

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Next, choose the Facebook Page the ad will run on. Fill the ‘Text’ box with the message you want to display on your ad post. Your message can be as catchy as you want or you can keep it simple, as shown below.

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Now you can choose how many pictures you want your ad to have. Remember, you can add up to 10 images in a carousel; however, you do not want to give away the entire walkthrough of the house without having your audience click through to your call to action to fill out a lead capture form. Insert a headline and description, and choose your destination URL (your website’s lead capture landing page).

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Finally, you’ll want to review your ad.

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If everything is to your liking, click ‘Place Order’ to launch your ad.

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Measure Your Insights
Once you have set up your ad and feel that it is ready to publish, you may find yourself wondering, “How do I know if the ad is working? How do I measure the results?”

Luckily, Facebook has integrated reporting software that keeps track of all your ad campaigns; you can tell if your ad is reaching your target audience and if people are engaging and clicking the call to action. The reports can be found in the Ads Manager section of your Facebook Pages. The report provides details on the following: delivery (current campaigns, ad sets, or ads running), results (based on the objective of the campaign chosen), reach (the number of people who saw your ads at least once), cost (average cost per result from your ads), amount spent (total amount of money you’ve spent), and the end date.

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Once you understand the results of your ad campaigns, you may begin to notice a trend in your audience base that can show you whether or not certain ads are working. Furthermore, since the reports are constantly updated, there is no need to wait until the end of the campaign to check your results. If you notice that your ad’s reach is continuously growing, but the results aren’t, try editing your campaign. Your target audience may be too broad or too narrow, or your images and/or videos may not be creative enough to catch the attention of your audience.

If keeping up with your social strategy is too much for you, let us help! Homes.com Social Fuel takes care of your social strategy by providing you with everything from account setup, post creation, engagement, and Facebook Ad management. We will even manage your online reputation and monitor how your business ranks in search results so you can focus on selling real estate.

For more information, please visit connect.homes.com.

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

The post Facebook Ads Made Easy – Part 4: Creating Ads and Reviewing Your Insights appeared first on RISMedia.

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