Instead, short-term investors are adding more value to the property before reselling. CoreLogic explains, “We’ve seen growing signs that flippers are getting increasingly good at buying properties at a discount while the premium they’re selling for has remained mostly constant.”
The flipping rate in the U.S. was 10.9% of all home sales in
the fourth quarter of 2018. The areas with the highest median returns on a flip
Akron, Ohio: 65.7%
CoreLogic will be focusing on what specific improvements
were made on these properties, the costs of the work, and the net economic profits
earned by flippers.
The largest city in Bonner County, Sandpoint offers
something for both the adventurer and the relaxation seeker. It’s nestled on
the shores of Idaho’s largest lake, Lake Pend Oreille, is surrounded by three
major mountain ranges – the Selkirk, Cabinet, and Bitterrot ranges – and is the
home of Idaho’s largest ski resort, the Schweitzer Mountain.
With its outrageous beauty, Sandpoint is Idaho’s hidden
Located just a skip away from Sandpoint City Beach Park,
you’ll find Idaho’s other secret treasure: Alliance Title’s Sandpoint branch.
Bringing in 106 total years of experience between our six full-time team
members, Alliance’s Sandpoint is ready and eager to join you during the home
This office doesn’t shy away from community events and contributions, either – they’re heavily involved in Alliance Title’s companywide campaign, Closing the Hunger Gap, and they also contribute to the 7B Boobs & Beer Run to raise funds for local cancer organizations, The Festival at Sandpoint for arts education, and the Distinguished Young Women program and the Performing Choirs at Sandpoint High School.
Each employee has their own interesting hobbies and
passions. Administrative Assistant, Lori Gedrose, loves antiquing and
refurbishing – her seasonal arrangements always brighten up the office entry
way; Title Officer, Harlan Ray, enjoys photography; Escrow Officer, Karla
Derton, plays the trumpet and has the super power of speaking in movie quotes;
Escrow Officer, Janie Ray, is an avid reader and piano player; and Escrow
Assistant, Hannah Gardner, is not only a poetry writer, but also a Dungeons and
The Sandpoint branch is warm and friendly – they truly care
about their clients, and they strive to excel for each transaction. They
explain, “We love being part of our customers’ team. Our area is diverse; everything
from off the grid acreage tucked away from population, to lavish waterfront
homes. Every customer has a different need and we enjoy finding ways to help
make the transaction happen.”
Whether you’re buying or selling commercial or residential property in Bonner County, the professionals at Alliance Title’s Sandpoint location are delighted to help make your next transaction a success!
Pros: no more rent, build equity, paint and decorate how you want, and no neighbors above you!
Cons: it’s broken, you fix it.
A new survey from HomeServe USA found that 20% of homeowners do not have money put aside for an emergency home repair – and half of the respondents say they’ve had to complete an emergency project at some point in the past 12 months.
Financial experts agree that homeowners should save 1% of
the home’s purchase price each year to
cover ongoing home maintenance coasts. They also suggest having savings equal
to at least 3-6 months of overall living expenses in an emergency fund.
While saving for a down payment is one battle, the next is
making sure you’re able to fix any “uh-ohs” your dream home might experience.
New-home construction has been the hot topic recently – and
as a real estate agent, it’s crucial that you know the differences between
selling a previously-owned home and one that is still being built.
Because builders will be represented by their own agent, buyers
will need you to speak for them and look after their best interest.
Here are some quick tips when it comes to selling new
Real estate agents have the responsibility to fully
understand the buyer’s rights and have them outlined in the contract. It might
be a good idea to ask the builder’s sales contact to receive an extra copy of
the legal documents. Look closely at deadlines that the buyer should be aware
Agents also need to talk with the builder to see exactly what will be included in the home.
Let’s explain that further:
When your client toured the home, it was probably a model
home. It was the high-end, tippy-top version of the “standard” home that will
be offered. Touring the home with the builder, you should ask which options
come with the home, which options are available, and which options are an
Speaking on the builder – it would be beneficial to actually know the builder. Each builder is different from the next; speak with past buyers and look for online reviews to get a better understanding of what they can offer.
This is a large part of your job, so it should come as no
surprise that negotiating would be a major step in the new-home process.
However, builders actually set a lot of the prices – some that you can’t
necessarily debate. It’s important for you to explain this to your buyer.
Builders are more likely to pay for closing costs or possibly offer design
incentives before they drop prices.
Mortgage lenders are a bit more critical than normal when a
buyer is purchasing an unfinished home. Because construction can take months
before it’s completed, it poses as a risk; lenders usually can’t “lock in” an
interest rate for more than 90 days in advance.
It’s important to know where the buyer is financially – so
as to not waste time if the buyer cannot afford a mortgage if rates increase
once the home is completed.
Helping sell new-home construction is exciting – but it
should also be paired with patience and due diligence.
Wifi, Netflix, wine, and environmentally-friendly products.
If you advertise any of these, millennials will come.
While we do know a short list of products millennials go
goo-goo-gaga over, one thing surprised us: having a lawn as the most important
feature when renting or buying a home.
A recent poll done by the National Association of Landscape Professionals found that 82% of millennials cited lawns as their top pick when purchasing a home. Which might seem a bit shocking, considering the other stereotype millennials fall into is not wanting to engage in yard work.
But, the numbers prove us all wrong – millennials want the
outdoor space. Here’s why:
77% use their lawn space to relax at least once
32% garden multiple times a week
47% entertain in their yards at least once a
57% use their yards for recreation at least
So millennials… like being outside??
While kitchen renovations can always be done at a later
date, it looks like having a yard takes precedence when moving into a new home.
Many believe it’s due to the rise in inventory in the high-end market. Homes priced above $750,000 have continued to increase – up 11% year over year. This doesn’t help first-time homebuyers who are looking to enter the market.
Most first-time homebuyers are looking for homes priced at $200,000 or below (these are called entry-level homes) but this niche in the market has had a 9% decrease year over year, obviously making them harder to find and harder for people trying to purchase their first home.
Danielle Hale, realtor.com®’s chief economist, explains:
“Heading into the 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 in the last few months as fewer sellers want to contend with this year’s
more challenging conditions.”
While it does seem promising that inventory is increasing –
however slowly that might be – experts will have to keep an eye on the real
estate market and hope entry-level homes begin increasing year over year.
Jared Janke is our Assistant Vice President and Sales
Manager in Alliance Title’s Coeur d’Alene, Idaho office. He has brought 12 incredible
years to the branch and we couldn’t be more thankful! Jared’s responsibilities
include business development, increasing market share, bringing in new
business, and managing business development representatives in other
Jared truly enjoys being involved in the local community and getting to meet so many people. Assisting lenders, realtors, and builders to help them succeed is something he aims for everyday!
Of the Alliance Core Values, “Integrity” is Jared’s top pick. He explains, “I strive to be successful in our market; however, I constantly challenge myself to do it the right way. Work hard, provide service for our customers, and be true to who I am at the same time. I will do what I say I am going to do.”
When it comes to choosing someone he appreciate and
respects, Jared looks to whom he’s surrounded by: “I admire good parents, good
teachers, good coaches – I admire these folks because they mold our children
and have a huge impact on our communities.”
When Jared’s not working hard in the office, you’ll probably
spot him enjoying time in the great outdoors! He enjoys hunting, fishing, and
camping – anything that involves being outside. He also loves watching his
daughter play volleyball and softball with her travel teams!
Jared’s favorite quote, “It’s not how hard you hit, it’s how
hard you can get hit and keep moving forward,” is something he believes
represents true life: “Life can be tough and there will be times when we all
feel like giving up or quitting or stopping. The winners in life will pick
themselves up and get right back after it!”
Now that you’ve gotten to know Jared a little more, stop by
Alliance Title’s Coeur d’Alene branch and write them in on your next
transaction! Jared looks forward to helping make your home closing an exciting
and positive experience.
Communication is key in any
relationship – and when the relationship is between a real estate agent and
a client, communication becomes even more vital.
To get the relationship off on the right foot, it’s important that you establish communication rules so your client understands your work, and you know what your clients wants.
How do you create one of these plans?
Ask your client how they’d like to be reached – is it
through phone, email, text, and/or social media? Communicating through
whichever system they choose will help them become more receptive.
Now that you’ve planned how they’d like to be reached,
establish how often they’d like to hear from you. Should it be weekly,
bi-weekly, monthly, or only when you have an important and urgent piece of
information? Once you have this decided, both parties will have an
understanding of how frequently they’ll be reached, so there isn’t any
confusion left on the table.
It’s important for your client to know what your work days
look like. Let them know what days and hours you work – and if you have any
“after work hours” – set a policy for what that looks like as well.
Once you know their preferences, write out a specific time on the calendar when you’ll reach out to them and let them know. For example, if they said they would like to be reached weekly by phone, mark your calendar for every Thursday between 3pm and 5pm (or whichever day and time works for both of your schedules) and let them know that’s when they’ll be hearing from you.
Being a real estate agent means going above and beyond for your clients – and setting expectations for how you both will work wonders for your relationship.
They surveyed over 14,000 cities across the country to
compile a list of the highest counts of walks, dog walkers and sitters, how
often the keyword ‘dog’ appeared in online listing descriptions for sale, on
whether properties were described as dog-friendly, and close to dog parks, etc.
Want to avoid a ruff life with your best furry friends? Check out Rover and Redfin’s findings for the top 20 cities for your furry doggies!
Home prices have increased by 49% since 2010, while the U.S.
economy has grown by $3 trillion. America has seen steady economic growth and
low unemployment rates for the past seven years, and according to realtor.com®
Chief Economist Danielle Hale, “Historically, this type of growth hasn’t
continued indefinitely, and U.S. home shoppers think it will come to an end
sooner rather than later.”
In an ironic turn of events, Hale points to the nation’s low
inventory levels as a way of protecting home prices in the next recession –
whenever that happens.
The years leading towards the previous recession showed many consumers believing real estate was a luxury – this is a major disparity to the current feeling towards owning a home merely as a priority.
Heading into the spring market, experts will be watching to
see how home values and appreciations fair.