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Fannie Mae November Economic and Housing Outlook

fannie-mae-houseKatie Penote / 202-752-2261

WASHINGTON, DC – The forthcoming change in the U.S. administration poses new uncertainties about the economy, but modest growth is still expected for 2016 and 2017, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group’s November 2016 Economic and Housing Outlook. The slowdown in job growth and business investment suggests the economic expansion has transitioned to a late-cycle phase, in which growth tends to moderate and, in turn, makes the economy more vulnerable to shocks. Although increased market volatility may occur in the medium term as policy developments take shape, the ESR Group continues to expect economic growth to pick up in the second half of this year, averaging 2.4 percent, following 1.1 percent growth during the first half. The full-year 2016 growth forecast remains at 1.8 percent, with a similar pace of growth expected for 2017.

“We haven’t changed the general tone of our forecast at this time, but we will incorporate new policy assumptions as they become more concrete. Given campaign themes, we may see some changes in policies regarding corporate and individual tax rates, infrastructure investment, government spending, health care, and immigration,” said Fannie Mae Chief Economist Doug Duncan. “Depending on the incoming President’s policy priorities, our forecast for 2017 is subject to both upside and downside risks. For example, we expect near-term growth would get a boost from any tax cuts and spending increases that are made, but if new policies result in sharply higher tariffs on China and Mexico, rethinking the Trans-Pacific Partnership, and renegotiating the North American Free Trade Agreement, it would likely drag on growth.”

“In our fourth quarter GDP forecast, we expect domestic sales to strengthen and business investment in equipment to rebound, given a recent improving trend in core durable goods orders. However, we don’t anticipate a substantial turnaround going forward given the uncertainty of government policy facing businesses,” said Duncan. “Consumer spending is also likely to be a key growth driver, although we expect consumers to remain cautious given recent weakening in real disposable income. We also expect that residential investment will no longer drag on GDP as single-family construction spending has showed signs of stabilizing. However, the lack of homes for sale, particularly at the lower end of the market, continues to be a significant challenge for housing. Demand from first-time buyers has increased with household formation and is outpacing supply, leading to significant price increases and affordability challenges for entry-level buyers. Home purchase affordability will be constrained further if the recent pickup in mortgage rates persists, which would present a downside risk to our forecast of housing and mortgage activity.”

Visit the Economic & Strategic Research site at www.fanniemae.com to read the full November 2016 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae

– See more at: http://fanniemae.com/portal/media/financial-news/2016/6477.html#sthash.qpfpOZnT.dpuf

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Ley obliga a instituciones financieras a pagar cuotas de mantenimiento de propiedades que ejecutan

El senador por el Distrito de San Juan, Ramón Luis Nieves, anunció que ya es ley una medida de su autoría que beneficia a las asociaciones de residentes de condominios y urbanizaciones de todo Puerto Rico.
Nieves explicó que la nueva Ley 119-2016 obliga a las instituciones financieras a que paguen mensualmente (o como dispongan las reglas de urbanizaciones y condominios) las cuotas de mantenimiento a los consejos de titulares de las propiedades que ejecutan. En la actualidad, los bancos usualmente no pagan dichas cuotas desde que adquieren la propiedad por subasta, y terminan pagándolas cuando, años después, logran revender la propiedad. Nieves precisó que “esta solución le hace justicia a los residentes en urbanizaciones y condominios, pues inmediatamente lograrán un flujo de efectivo (cash flow) multimillonario por parte de los bancos. Los bancos, por su parte, se benefician al no tener que entrar en disputas de última hora con las asociaciones de residentes, que usualmente ocurren cuando el banco pide una certificación de deuda cuando va a vender la propiedad a un tercero. En mi experiencia laboral previa, fui testigo de muchas veces en las que estas disputas se tornaban en un obstáculo para que puertorriqueños adquirieran propiedades reposeídas por los bancos. Eso se acabó desde esta Ley 119”.

La nueva Ley 119-2016 iguala la situación legal de las propiedades ejecutadas que se ubican en condominios con las ubicadas en urbanizaciones. La Ley 119 obliga a los ‘adquirientes involuntarios’ (que se aclara finalmente son los acreedores que adquieren una propiedad para cobrar la acreencia que se les debe, no importa si la adquirieron en la primera o tercera subasta), a que paguen el equivalente a seis (6) meses de cuotas de mantenimiento a las urbanizaciones, igualando lo que ocurre hoy en los condominios. Antes de la Ley 119, las asociaciones de residentes no tenían derecho a recibir esos seis meses de cuotas por los bancos, lo que según Nieves “corrige una injusticia histórica contra las asociaciones de residentes en las urbanizaciones, y ayuda a mejorar sustancialmente su situación financiera”.

Nieves indicó haber trabajado en múltiples ocasiones en disputas sobre las cuotas de mantenimiento, pues previo a ser electo senador se desempeñó como ejecutivo legal y abogado de bancos, por más de una década. “Entendí importante radicar esta legislación para aclarar las reglas de este tema a beneficio tanto del sector bancario como de las asociaciones de residentes y consejos de titulares, particularmente de nuestra atribulada clase media.”

A modo de trasfondo, en diciembre de 2015 había 20,150 propiedades en proceso de ejecución, la cifra más alta en, al menos, seis años. Luego del proceso judicial de ejecución de hipoteca, la gran mayoría de las propiedades pasan usualmente a las unidades administrativas de propiedades reposeídas de los bancos. Dichas unidades se encargan entonces de promover la venta de los inmuebles para cobrar su deuda.
Nieves destacó que este proyecto es producto de un consenso histórico entre la Alianza de Comunidades con Control de Acceso, dirigida por Magali Fernández, junto a la Lcda. Rhonda Castillo y Ada Moledo, la Alianza de Profesionales de Condominios y Controles de Acceso, presidida por Marco Rosado, la Asociación de Bancos, y la Asociación de Banqueros Hipotecarios.

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¡Todo un éxito Reposubasta!

¡Celebramos el éxito de la mejor subasta de inmuebles en todo Puerto Rico!

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Team Reposubasta y Team Reality… On FIRE!!!

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NAR: More single women buying homes

KeyHouse

Single-women increased their share in the market, hitting levels not seen since 2011, according to the National Association of Realtors’ annual Profile of Home Buyers and Sellers survey.

While married couples make up the largest share of homebuyers at 66%, and had the highest income at $99,200, single women are increasing their role. Last year the share of single women fell to its lowest point since 2002’s 15%, but this year they seem to be making a comeback. Single women represented 17% of the market this year, the highest point since 2011.

“Despite having a much lower income ($55,300) than single male buyers ($69,600), female buyers made up over double the amount of men (7%),” NAR Chief Economist Lawrence Yun said.

“Single women for years have indicated a strong desire to own a home of their own, as well as an inclination to live closer to friends and family,” Yun said. “With job growth holding steady and credit conditions becoming somewhat less stringent than in past years, the willingness and opportunity to buy is becoming more feasible for many single women.”

What’s more, a recent report from ATTOM Data Solutions, the new parent company of RealtyTrac, shows that women are better than men at paying their mortgages on time, and are better with finances in general.

However, while men may be slower to enter the market, homes owned by single men have a 10% greater value, and appreciate 16% more than homes owned by single women, according to an analysis released by RealtyTrac.

But single women aren’t the only ones increasing their share in the market – although first-time homebuyers have been decreasing every year for three straight years, 2016 seemed to bring an end to the trend, according to the survey.

The results of the survey, which dates back to 1981, do not include investors or vacant homes.

After a three-year decline, the number of first-time homebuyers increased to 35% of market sales, its highest since 2013’s 38%, the survey showed. This is up from last year’s 30-year low of 32%. The first-time homebuyer 35-year average rests at 40%.

“Young adults are settling down and deciding to buy a home after what was likely a turbulent beginning to their adult life and career following the Great Recession,” Yun said.

“Demand increased over the past year because of a robust job market for those with a college degree and renter fatigue at a time when homeowners continue to see their equity rise,” Yun said. “Even with the affordability challenges many buyers face, the allure of homeownership is not lost among the younger generation. Those under age 35 made up 61% of first-time buyer transactions.”

While the increase is encouraging, the lack of housing supply could still cause problems for first-time homebuyers if they continue to move towards homeownership.

“First-timers’ ability to enter the market more convincingly over the next year greatly depends on supply improvements at the lower end of the market and if wages can finally awaken from their sluggish pace of growth,” Yun said.

Source: www.housingwire.com

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Fannie Mae Is Now Getting More Detailed Information on Borrowers

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Lleva tu carrera a otro nivel.

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5 Tips for Renters

Houses_for_rent

 Bring your paperwork.

Make the right first impression when you meet the landlord by bringing 1) a completed rental application; 2) written references from other landlords and employers, and 3) your latest credit report from one of the major credit bureaus: Equifax (www.equifax.com), Experian (www.experian.com), or TransUnion (www.transunion.com). (You’re entitled to one free copy of your credit report every year. Check  www.annualcreditreport.com for more information.)

Review the lease.

The lease spells out your rights and obligations, as well as the landlord’s, so be sure you read and understand the entire lease before signing it. For example, do you know under what conditions the lease can be terminated or renewed? Do you know who pays the utilities? Does the lease let you have pets, guests, or run a home business?  Is there parking, a pool, fitness center or other amenities (and are there charges for their use)? Do you understand your rights to privacy and how much advanced notice in writing – if any — the landlord has to give you before she can enter?

Prepare for upfront fees.

Landlords may charge non–refundable application fees, non–refundable move–in fees, and, if pets are allowed, pet fees. You may also be required to pay a broker fee if you used a for–fee broker to find your rental.

Guard your security deposit.

Landlords typically require a security deposit equal to one or two months’ rent when the lease is signed. Before signing your lease, make sure you understand what it says about the landlord refunding your security deposit or using it (for example, to cover repairs) when you move. This is one reason you should inspect the unit with the landlord and record existing damage on a statement or checklist before you move in and why you should be present when the apartment is inspected prior to moving out of the unit.

Get everything in writing.

Follow up oral agreements by sending your landlord a letter that sets out your understanding. Keep copies of all your correspondence about the rental. It will help avoid potential disputes.

If you need additional assistance, there are community resources that can assist you before you sign. You can also find more information on renting a home at My Home by Freddie Mac.

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10 Essentials for Your Real Estate Website

loritrainerBy for Active Rain

Real Estate Agent with The Ballen Group Real Estate Network, The Ballen Method

Your real estate website is your digital calling card. What do visitors see when they land on your home page? More importantly, what do they see when they view your website from a mobile device? First impressions are powerful. Your website is your opportunity to make a stellar first impression. But there’s more.

User experience is the most important aspect of your real estate website. Imagine inviting a guest into your home. Your main goal is to make them feel comfortable, right? You typically offer them a seat, a beverage, and delightful conversation. Your website guests should be treated with that same hospitality. But how do you turn a cold Internet presence into a warm user experience?

Here are 10 Essentials for a Powerful Real Estate Website:

Mobile Matters (A Lot!):

Several reports suggest that upwards of 55% of web-surfers are browsing from their smart phone or tablet. Smart phones are the first things people reach for when they wake up at least 50% of the time. Furthermore, 57% of users say they will not recommend a business with a poorly designed mobile site. (source: Impactbnd.com)

The Need for Speed: 

We live in a fast-paced society with short attention spans. Your website should load at lightening speed, or you’re likely to lose viewers and increase bounce rates. Lightening speed translates to 3 seconds or less. You can test your website’s load time at pingdom.com. Each time you create a new page in your website, test that page for speed. If it’s less than 3 seconds, consider revising. Image sizes, videos, interactive maps, social sharing widgets and other factors contribute to load time.

Consistent Branding:

You can easily identify several companies through brand awareness. What comes to mind when you think of a pink bag? Baby blue box? A swoosh on the side of a shoe? A red can? Brand awareness speaks volumes without saying a single word. What does your branding say about you and your business? Your brand should be consistent across your print marketing and your digital marketing. Instill brand awareness upon your website’s visitors. Your NAP (Name, Address, Phone Number) should be consistent in how it’s presented. If you use parenthesis around the area code in one area, all other areas should also use parenthesis around the area code.

Pictures Speak a Thousand Words:

People connect with faces, not logos. Although your branding should be high quality and consistent, placing a professional picture of yourself can help dramatically in relationship building. By placing your picture on your website, you’re conveying that you’re a real person. When you meet with that client for the first time, they’re more likely to feel like they’ve already had a chance to get to know you.

Spelling and Grammar:

You don’t need to be an English major to create a real estate website, but you sure do need to dot your i’s, cross your t’s, and use a spell checker. When you have glaring typos, fragmented sentences, misplaced punctuation, you’re sending a signal to viewers that you didn’t care enough to present a professional presence.

Interesting Verbiage:

Many professionals make the mistake of trying to “deepen their voice” when writing. This can come across as insincere, or worse: boring. While you do want to maintain a certain level of professionalism in your business content, it doesn’t mean you have to be bland, dry, or void of personality. In fact, it’s often the personality that wins a client over. Let your personality shine through in your real estate website so viewers can get to know who you are, how you tick, and why you stand above your competition. Your welcome message and “about us” page should be inviting and interesting to viewers.

Qualifications:

While it’s true that people are drawn to a personality, it’s also true that viewers want to know you’re qualified to do the job. Your real estate website is the perfect place to proudly showcase your certifications, awards, and philanthropic activities. Prove to viewers you have what it takes to get the job done.

Testimonials:

Word of mouth is the most powerful form of advertising available. It’s also the least expensive. When you win a client over with a charming personality, excellence in service, trustworthy qualifications, and you get the job done, ask them to provide a review or testimonials about your service. Prospects can be wooed by the success stories of others.

Listings and Search Capabilities:

Of course, the whole reason you’re going through all the trouble of presenting a professional real estate website is to sell houses. How you display those properties could make or break a user experience. Make sure your listings pages are designed with the user experience in mind. Here, too, you should think about mobile views. Table listings could lead to long scrolls on a mobile device, causing the user to lose interest, whereas a carousel display requires a simple tap of the finger to show the next property. Your viewers should be able to search homes by price, location, and features.

Lead Capture:

Not everyone is going to hop on the home buying or selling bandwagon. When dealing with what often equates to the purchase of a lifetime, some relationships need nurtured over time. But if you fail to capture a name and email address (at minimum), then you lose your ability to provide valuable information to that person in the future. It is imperative that you include calls to action (CTA) throughout your website. Call now. Click here. Read more. Email me. Share this page. Tweet this quote. You MUST direct your viewers into the actions you want them to take. Do not leave it to chance, even if it seems blatantly obvious.

You might also enjoy: Is Your System a Lead Conversion Website?

The Real Estate Website Bells and Whistles

Now that we’ve covered the fundamental foundation of your website, there are additional features you can include, provided they don’t weigh down your website’s load time.

Home Valuations:

Yes, may curious Georges want to know what their home might be worth if they decided to sell. But those curious Georges may convert to clients if you give them what they want. This is also another handy-dandy way to capture leads. And with third party plug ins, home valuations can be a simple add-on to your website.

Find, Follow, Friend, Connect:

Good luck finding someone who is absent from all social networks. In Contrast, rarely do you find one person across all of the social networks. Although it’s not necessary to be active in posting on all networks, it is handy to have a presence so your viewers can connect with you on their network of choice. If nothing else, create a profile page so when people conduct a search on their preferred social network, they can at least find your contact information and a link to your website.

Social Sharing:

When a viewer finds value on your website, there’s a great chance they’re going to want to share that information with their friends, family, associates, and social network peers. Make it easy for them: Include social network sharing buttons on your website and blog pages to encourage shares.

Bloggedy, Blog, Blog!

Okay, this is really more of a necessity and less of a bonus feature if you’re concerned with Search Engine Optimization and nurturing relationships.

Your blog is your opportunity to provide viewers with valuable content to help them make a decision. How to prepare for a mortgage application, how to stage a home to sell, community pages, hyperlocal pieces.

But you may choose to host your blog in a completely different location than your website. No problem: Use a link in your navigation bar that will lead visitors to your blog where they can learn all about buying or selling properties, market reports, or other juicy tidbits about the real estate industry.

Also Selected for You: What Every Real Estate Agent Should be Blogging About

Videos

Videos are powerful forms of media that can pull viewers in for more information. You can record yourself driving around a neighborhood to convey community appeal. You can demonstrate “how to” tips, tricks, and tools. Get creative with video creation. Another bonus to video is that video keeps viewers on your website longer, which builds ranking in the search engines. When a viewer spends longer periods of time on your website, the search engines recognize your content as being valuable to that user.

Summing it Up:

Your real estate website is not a luxury item, nor is it something to take lightly or create haphazardly. Consider user experience above all else. Make sure your website is user friendly, mobile responsive, with fast load speeds. Check your spelling, grammar, and punctuation. Be consistent with your branding and flash a smile at visitors through a professional image. Use inviting verbiage to avoid boring your Internet guests. Use frequent calls to action to foster lead capture. Display your qualifications and testimonials proudly, and present your listings carefully. Then, throw in a few bells and whistles to help you stand out in a crowd. Create a lasting first impression with a powerful real estate website.

Did you know Ballen Brands creates real estate websites? Get in touch today to learn about Ballen Real Estate Websites (B.R.E.W.). Give us a call at (702) 917-0755, or email team@ballenbrands.com

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Celebramos 20 años de éxito, innovación, trabajo en equipo, y excelencia.

Nada nos define mejor que la palabra dinamismo.

Y es que nuestras reuniones corporativas, rompen el molde de lo usual, y se transforman en eventos llenos de celebracion, energia, innovación, trabajo en equipo y en muchos casos, diversion.

Celebracion, por que celebramos y reconocemos el exito de los nuestros.

IMG_3689Nuestros Top Producers YTD.

IMG_3695Nuestros TOP Producers 2015 reciben sus premios de parte de nuestro CEO Iván Zavala.

Energía, porque damos el 110% para capacitar, motivar, y guiar a nuestros agentes. Pues darte el mejor servicio, requiere del mejor equipo.

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14372428_1179421758790926_8965493913188700185_oNuestra nueva Página “Web”

Diversión, porque buscamos las maneras más creativas, de llevar el mensaje a nuestros agentes, y mostrarles que podemos pasarla bien, dando la milla extra.

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Hemos comenzado una nueva era… la era de la excelencia, y mantendremos nuestro compromiso, de darte el mejor servicio, SIEMPRE. ¡Cuenta con nosotros!
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