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      #CompassComingSoon

      What is it exactly about Compass COMING SOON listings that is important for you as an agent individually, as well as for all of us at Compass collectively - agents and staff - in every region of the USA? Here are my TOP 10 reasons:       

      1.  Human Beings are by their very nature attracted to having knowledge first, even more so in to-days day and age where there is so much information out there.   

       2.   Like a movie, who wouldn't want to see a movie before the crowds see it? While we like to get information first, we also like the excitement and exclusivity of knowing we were there first. As marketers creating some sense of excitement and energy has a great value and fuels energy behind a marketing campaign. It adds an additional marketing moment of substantive value. 

      3.  COMING SOON listings - if they appear on compass.com first - drive traffic to compass.com. We are all beneficiaries when there are more eyeballs focused on our website.                 

      4.  COMING SOON listings are not exclusionary of other agents within Compass or at competing brokerages. We encourage ALL agents to see our coming soon listings, show them and sell them! All agents benefit by this. They are NOT off-market listings at all.             

      5.  COMING SOON listings take away from 'days on market'. For those of you lucky enough to be in super-fast moving markets, this may not matter to you....yet. Having a COMING SOON listing out for 10 days without the clock starting has value in a world where many search engines automatically list properties in priority of newest.           

      6.  Most Broadway productions are tested in smaller markets before coming to Broadway. Like a Broadway Show, a COMING SOON listing allows you to test the market too. Should you lower or raise the price? Did several agents point out a flaw or feature you may not have noticed or focused as much attention on?                                               

      7.  Clients and Sellers love creative marketers. A COMING SOON listing demonstrates agent innovation and adds to your marketing arsenal. It demonstrates additional value agents bring to the table.       

      8.  In a world where aggregators and technology entities continue to make every effort to minimize or eliminate the human agent, COMING SOON re-captures our essential role in the brokerage equation. It is something these antagonists do not have and may break the consumer's addiction to them. We have evidence it's doing so already.   

      9.  Social Media requires many impressions to have an effect. Many consumers search for newness via social media. COMING SOON affords your followers a reason to follow you more closely....and add followers! In New York a disclaimer is essential, so be sure to check your area what the local MLS rules require: "All listings are simultaneously syndicated to the REBNY RLS. Compass is a licensed real estate broker. All material herein is for informational purposes only, was compiled from sources deemed reliable but is subject to errors and omissions. Compass makes no representation or guarantees that Coming Soon properties are available in your region, or that its use will result in the benefits described herein. This is not intended to solicit properties already listed. Equal Housing Opportunity."                 

      10.  In markets where there is a growing inventory, a COMING SOON campaign can draw attention to your new listing in a crowded sea of options. Slower markets are finding the exhausted buyer who has seen everything to be the most inclined to pounce on the newest. In fast-moving markets with limited options, a time advantage is always a plus.                                                                       

      Have a wonderful day and MEMORIAL DAY WEEKEND. Drive carefully if you are driving and please take care!     

       
       

      Compass Contemplations for Wednesday

      DID YOU KNOW? Existing-home sales ran at a seasonally adjusted annual 5.19 million rate in April, the National Association of Realtors said Tuesday. That was 0.4% lower than March and 4.4% lower than a year ago. The median selling price in April was $267,300, a 3.6% annual increase. First-time buyers made up 32% of transactions in April, while individual investors accounted for 16% of buyers. (Marketwatch)


      DID YOU KNOW? Those living in Minnesota have an average score of 713. South Dakota, Vermont, New Hampshire, and Massachusetts round out the top 5 US states with the highest average credit scores for 2018. The lowest score, 652, belonged to those living in Mississippi. Louisiana, Nevada, Georgia, and Texas are all in the bottom of Experian’s ranking as well, with scores of 659 or below. (CNBC)

      DID YOU KNOW? Over the past year, 22% of respondents in a survey of 2,200 US adults say the average credit card balance they carried was between $100 - $500, while about 10% of people say they had a balance over $5,000. At close to 18% interest.

      DID YOU KNOW?  Over 85% of videos on Facebook are watched without sound. Use subtitles and text. Make the visuals SING!  (INMAN)                                                                                           

      DID YOU KNOW? 25% of American jobs - belonging to about 36 million people - are at risk of being replaced by automation or artificial intelligence over the next 20 years, according to a Brookings Institution report issued in January.

      DID YOU KNOW? New York City’s economy grew 3% from January through March 2019, a bit more than the 2.7% jump in gross city product recorded in the first quarter of 2018. (Crain’s)  

      Compass Contemplations for Tuesday

      DID YOU KNOW? Is Madison Avenue retail rebounding? Since January 17 new stores have opened on this corridor that 4 years ago commanded rents up to $1,600/sf. Now, this number is closer to $1,000/sf. There is a growth in wellness, beauty, sustainability, and brands that have prices reaching broader markets. One thing missing from the Avenue that has helped drive retail traffic in other parts? More food. Stores are collaborating with one another. What is the biggest trend worth watching?  Several brands are BUYING their buildings or retail spaces. By doing so they remove the risk of future rent escalations beyond their control. (WWD)

       

      DID YOU KNOW? The homeownership rate among households headed by someone under 35 was 35.4% as of the first quarter of 2019, according to the Census Bureau. In 1999 that level was about 40%.  WHY?

      * The Great Recession caused the Millennial unemployment rate of those aged 20 - 24 to go as high as 17% in 2010. It would have been even higher if more young people hadn’t opted to continue schooling instead of joining the labor force or simply stopped looking for work.

      * This delayed entry into the workforce is taking them longer to develop the financial wherewithal to buy a home. 

      * Many are saddled with higher levels of student debt than previous generations, making mortgage approvals more daunting. 

       * The tough labor market they faced early in their careers may have delayed other life events that often coincide with the decision to own a home: Millennials have been getting married/having children later.

      * The 2017 tax cuts reduced financial incentives for homeownership. 

      * Banks have become more risk-averse since the crisis, more eager to extend pricey mortgages to wealthier clients than to lend to those seeking smaller home loans, as do many first-time buyers.

      * A greater share of millennials live in the central city of a metropolitan area with a population of 500,000+ than did Generation X at the same age...where buying a home is less affordable.

      * Fewer urban millennials have decamped to the suburbs in their 30s than previous generations.  (WSJ)

      A Lack of Inventory Continues to Impact the Housing Market

      A Lack of Inventory Continues to Impact the Housing Market | MyKCM

      The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen in 2019.

      However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! Buyer demand naturally increases during the summer months, but supply has not kept up.

      Here are the thoughts of a few industry experts on the subject:

      Lawrence Yun, Chief Economist at National Association of Realtors

      “Further increases in inventory are highly desirable to keep home prices in check, the sustained steady gains in home sales can occur when home price appreciation grows at roughly the same pace as wage growth.”

      Jessica Lautz, Vice President of NAR

      “There’s a supply-demand mismatch… More inventory is needed at the lower end and a price reduction may be needed at the upper end.”

      Danielle Hale, Chief Economist of Realtor.com

      “Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions… A buyer’s experience will vary notably depending on the market and price point they’re targeting.”

      Bottom Line

      If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!

       

      « A Tale of Two Markets [INFOGRAPHIC]

       

      The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

      Home Buyers are Optimistic About Homeownership!

      Home Buyers are Optimistic About Homeownership! | MyKCM

      When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who have made similar purchases about their experience, we get opinions and insights, and we read reviews online. There’s no difference when considering a home purchase!

      Most home buyers start by listening to the news to hear what is being said about the real estate market. They check with family and friends about their experience. They spend time online reading reviews about their desired neighborhood.

      The challenge is that comments from the news and those closest to us can contradict the data and reports. One source says one thing, while another source says something completely different.

      There is a group of homebuyers that are not allowing comments about an upcoming recession to interfere with their decision to buy a home. According to a survey by realtor.com®,

      Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home…Despite the fact that they foresee an economic downturn, they generally expressed confidence that a future recession will be better than 2008 for the housing market.”

      The report provides more insights from the survey:

      • Nearly 30% of the active home shoppers* surveyed expect the next recession to begin sometime in 2020.
      • 56% of shoppers believe home prices have hit their peak.
      • 41% believe housing will fare better than in 2008.
      • 45% of home shoppers feel at least slightly more optimistic about homeownership.
      • 33% reported no impact on their feelings about homeownership.

      Homebuyers are aware and making decisions with their eyes wide-open. As the report mentioned,

      “The fact that some [36%] home shoppers expect the next recession to be harder on the housing market than the last recession suggests that they are buying homes with eyes wide-open and very sober, if not slightly pessimistic, views of the housing market.

      This is a stark contrast to the years leading up to the last recession when ‘irrational exuberance’ was more common and yet another reason to expect that the next downturn will be very different for the housing market than the last.”

      Bottom Line

      If you are considering buying a home, let’s get together to help you understand our local market and determine if buying a home is the right choice for you now.

      *Active home shoppers are those consumers who responded that they plan to purchase their next home in 1 year or less.

      Compass Contemplations for Wednesday

      Good morning,

       

      DID YOU KNOW? Small business confidence ticked up and remains at a high level for the second quarter. The CNBC|Survey Monkey Small Business Confidence Index reading of 59 (up from 58 in the first quarter 2019) indicates that small business owners are optimistic about the direction of their business over the next 12 months. 77% of 50+ person small businesses described business conditions as good and only 1% said conditions are bad.

       

      DID YOU KNOW? Japan’s bullet trains can reach nearly 200 mph and date to the 1960s. They have moved more than 9 billion people without a single passenger causality. America's ACELA is the fastest and averages 65 mph between NYC and Boston because its lines (created in the late 1900's) were never designed for high-speed systems. China built 19,000 miles of high-speed rail all in the past 10 years. The USA virtually abandoned rail-served infrastructure with highway-served infrastructure mostly dedicated to the automobile. (CNBC)

       

      DID YOU KNOW? Sellers who sold their homes in June - meaning June was the sale date on the deed of the house, so they likely put the home on the market in spring -  got 9.2% more than what their home was valued at, according to data released this month from real estate analytics firm ATTOM Data Solutions. Sellers got a premium in other spring and summer months too: May (7.4%); July (7.3%); April (6.4 %); March (6.1%); August (5.8%); meanwhile December, January and October sellers got less than a 4% premium. Demand is much higher in spring and summer in part because school is out and winter is over so people are out and about. (Marketwatch)

      Make Every Day, Earth Day!

       

      Earth (EVERY) Day

      Yesterday was EARTH DAY another great way of reminding all in the world just how important our awareness has to be in improving our environment and minimizing the negative effects we humans have on it. While I love these days of awareness, I thought I would write about it today - a day later - to emphasize how doing something for one day pales in comparrison to the effect we can have when we are aware of something - and do something about it - EVERY day of the year. So here are some simple suggestions - primarily focused on our real estate world - on how all of us can contribute to improving our planet for future generations:

      1.  Avoid Plastic wherever possible. It is extremely toxic. There is enough science behind what plastic does to the environment, so even if you don't care about that landfill 'over there' know that microscopic - and not-so-microscopic - plastic particles are finding their way into our food. And you don't want to be eating plastic! Avoid plastic water bottles. They are toxic for you and the planet.

      2.  Take public transportation, or try never to be alone in a car.  Not easy in out profession at all! So when you cannot do this, try to be driving a car that burns as little fossil fuel as possible, or an electric car. Shared rides and cars help too. Walking and cycling is good for you as long as you aren't completely distracted by your tech!

      3.  Encourage green energy sources by subscribing to them personally and encouraging builders and homeowners to install geo-thermal, solar and other non-carbon energy into their homes.

      4.  Use LED light bulbs. There are many now that emulate almost the exact light quality of an incandescent bulb and they dim well. Use 2,700K temperature bulbs. We don't have to look ugly to be responsible. Turn off lights when not needed, even in your office. Use natural light wherever possible.

      5.  Avoid clothing made of fibers that aren't bio-degradable. Much of what is in your closet could possibly take decades to biodegrade. And chances are those un-natural high-tech fibers are not good for the environment.

      6.  Take a look at what you throw away and cut it by half. We waste SO MUCH! Try to re-cycle everything. Compost.

      7.  Try to eliminate as much unnecessary paper mail. Yes, we are agents and need to do mailings to market ourselves and our properties, but be aware of what this does to our environment. Plastic-wrapped mailings are not good for our planet.... Pay bills online.

      8.  Eat local, organic food that has not been subjected to pesticides and chemicals/antibiotics. This will encourage less use of these products that are known to be ultra-harmful, especially when they make their way into our drinking water. Transporting food long distances is not great for the environment.

      9.  Love that super-green lawn?  Use organic fertilizers and soils. Yes, those chemical-infused additives are very effective, but are also very harmful. Maybe plant a small vegetable or herb garden.

      10.  Conserve water, especially in areas that are prone to drought. It may be as simple as not running your water non-stop while brushing your teeth! Fix leaky faucets and toilets. Collect rainwater.

      11.  Insulate, insulate, insulate. Most homes are energy-inefficient because of poor sealing and inadequate insulation. Use programmable thermostats to increase efficiency.

      12.  Clean your air at home with house plants. Plant trees. Eliminate artificial, toxic odors. PS: many candles emit toxins into the air.... There are organic alternatives.

      13.  Buy energy-efficient appliances and use them with efficiency in mind.

      14.  Buy used/existing products to avoid unnecessary waste. Used furniture is a good example.

      15.  A shared living environment is GREAT for the planet, ie: apartments. Renovating an old house - and retro-fitting it for energy efficiency - is far better for the environment than tearing it down and replacing it with a new home.

      Imagine if we ALL did these things EVERY day, or as much as possible!.....Let's love our planet and do our share to keep her alive!

       

      Your Home's Spring Maintenance Checklist

      Your Homes Spring Maintenance Checklist [INFOGRAPHIC] | MyKCM

      Some Highlights:

      • Every spring, your home needs some extra TLC!
      • Whether you plan on selling your home this spring or not, conducting this maintenance will help ensure your home functions well for the rest of the year.
      • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

      5 Reasons To Sell Your House This Spring!

      5 Reasons To Sell Your House This Spring! | MyKCM

      Here are five compelling reasons listing your home for sale this spring makes sense.

      1. Demand Is Strong

      The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

      Take advantage of the buyer activity currently in the market.

      2. There Is Less Competition Now

      Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

      Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

      Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

      3. The Process Will Be Quicker

      Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 47 days.

      4. There Will Never Be a Better Time to Move Up

      If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

      According to CoreLogic, prices are projected to appreciate by 4.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

      5. It’s Time to Move on With Your Life

      Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

      Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

      That is what is truly important.

      How to Put Your Housing Cost to Work for You

      How to Put Your Housing Cost to Work for You | MyKCM

      There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.

      The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.

      For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases. The full results can be seen in the chart below.

      How to Put Your Housing Cost to Work for You | MyKCM

      According to the Home Price Expectation Survey, a family who purchased a median priced home this January can expect to gain more than $42,000 over the next five years simply from price appreciation alone.

      Bottom Line

      Your home is one of the only investments you can live inside as you pay it off over time. If you are ready to use your housing costs to build wealth, let’s get together to discuss how to make your dream a reality.

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