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national association of realtors

NAR HOME survey says 71 percent of homeowners believe it’s a good time to sell

The National Association of REALTORS® released their quarterly Housing Opportunities and Market Experience (HOME) survey yesterday, and “71 percent of homeowners believe it’s a good time to sell.”

This is not surprising with the rising home prices.  This is up from 69% last quarter and 61% more than a year ago.

The survey also revealed that 42 percent of respondents believe homes are affordable for almost all buyers, with those living in the Midwest being the most likely to believe homes are affordable (55 percent) — and not surprisingly — West respondents (29 percent) being least likely to think homes are affordable. And, 20% would consider moving to a more affordable community. Twenty-seven percent of these buyers make under $50,000 a year versus 16% who make more than $100,000.

According to Lawrence Yun, NAR chief economist, in the NAR press release “it’s apparent there’s a mismatch between homeowners’ confidence in selling and actually following through and listing their home for sale. There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy. As a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.

Yun went on to say, “Perhaps this notable uptick in seller confidence will translate to more added inventory later this year. Low housing turnover is one of the roots of the ongoing supply and affordability problems plaguing many markets.

Click here to see the full press release on the survey’s findings, or here for the full survey.

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SOURCE:
https://www.nar.realtor/news-releases/2017/06/71-percent-of-homeowners-believe-it-s-a-good-time-to-sell-economic-and-financial-confidence-dips
https://www.nar.realtor/infographics/home-survey-june-2017
https://www.nar.realtor/reports/2017-q2-homeownership-opportunities-and-market-experience-home-survey

 

 

 

Keeping it safe

Today safety is something we all think about and often worry about. We have alarm systems for our cars, homes, video surveillance, video doorbells and many other safety features to keep our family and our homes safe. For REALTORS® safety is a part of their daily job and a growing concern. Their own personal safety, as well as the safety of their clients and the homes that they have been entrusted to market and sell. REALTORS meet new people every day. They interact with unknown agents, show homes to people they may have never met before, and staff Open Houses and events for the general public. And, this all to help you market your home. Due to this high exposure, REALTORS must take precaution and approach safety first. Check out this video by the National Association of REALTORS® on personal safety protocols and what to expect when working with a REALTOR. This video is a great resource to share with clients and homebuyers to learn about the potential safety protocols you may encounter when working with a REALTOR®.

For more information on safety, visit REALTOR Safety provided by the National Association of REALTORS.

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RESOURCES:
https://www.nar.realtor/topics/realtor-safety/articles

Cybersecurity: NAR Email Best Practices

As promised, I will be outlining the National Association of REALTORS® Best Practices from their NAR Data Security and Privacy Toolkit.  The National Association of REALTORS Legal Affairs Department outline the following Best Practices on Email.

Unsecure email accounts are open doors to cyber criminals.  Follow these guidelines to help keep that door securely shut and locked tight.

·        Whenever possible, avoid sending sensitive information via email.

·        If you must send sensitive information via email, make sure to use encrypted email.

·        Never trust contact information in unverified emails.

·        If an email looks even slightly suspicious, do not click on any links in it, and do not reply to it.

·        Clean out your email account regularly.  You can always store important emails on your hard drive.

·        Do not use free wi-fi to transact business.

·        Avoid using free email accounts for business.

·        Use strong passwords.

·        Change your password regularly.

These are quick and easy reminders of good email practices. I cannot emphasize enough the importance of secure email. We are in a very transaction heavy business full of NPPI (non-public personal information), and the information that we share should abide by privacy laws including Gramm-Leach-Bliley Act, should not include NPPI, and must be transmitted via secure, encrypted email. Here is a guide from the Federal Trade Commission on how to comply with the Privacy of Consumer Financial Information Rule. And, as a bonus, here is a webcast offered by the American Land Title Association on Best Practices: Protecting Non-public, Personal Information.

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RESOURCES:
https://www.nar.realtor/sites/default/files/handouts-and-brochures/2015/protecting-from-cyberfraud-handout-2015-11-24.pdf
http://www.realtor.org/law-and-ethics/nars-data-security-and-privacy-toolkit
https://www.ftc.gov/system/files/documents/plain-language/bus67-how-comply-privacy-consumer-financial-information-rule-gramm-leach-bliley-act.pdf

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