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Top 5 Weekly Best Buys in Fort Lauderdale | Chris Berthelson | Real Living Real Estate

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Top 5 Weekly Best Buys in Fort Lauderdale!

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FAA subpoenas real estate firms that use drones

FAA subpoenas real estate firms that use drones

NEW YORK CITY – July 2, 2014 – The Federal Aviation Administration (FAA) has the real estate industry in its crosshairs, as it begins to come down on the growing popularity of unlawful drone use for taking listing photos and videos.

The FAA has already targeted several brokerages in New York City that use drones, slapping them with subpoenas in a widespread move to learn more about how real estate professionals use the technology to advance their businesses.

This is the FAA’s interpretation of lawful model aircraft use.

The FAA does not condone the use of drones for commercial purposes but is expected to reveal proposed rules for such use next year. For now, practitioners who use drones for their business can be fined – and that’s exactly what will happen to a handful of NYC’s largest brokerages if they don’t stop their drone use immediately, FAA sources told the New York Post.

“It has completely blown up. We’re getting [subpoenas] all over the city and the Hamptons, and they’re just going to general counsel,” a source with New York-based Halstead Property told the Post. “It was a total shock.”

Several other NYC real estate firms have been subpoenaed as well, including Time Equities and Alchemy Property.

“We have a mandate to protect the American public in the air and on the ground, and the public expects us to carry out the mission,” FAA administrator Michael Huerta wrote in a memo, according to the Post.

It speaks to the risk real estate professionals take when using drones for their listings. The National Association of Realtors® has long warned that practitioners should steer clear of using drones for their business until the FAA releases solid rules on such use, which is expected by September 2015.

Source: “FAA takes on city Realtors using drones,” New York Post (July 1, 2014)

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Top 5 Weekly Best Buys | Chris Berthelson | Real Living Real Estate

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Men and women fall in love with a home differently

SAN JOSE, Calif. – Feb. 11, 2014 – Realtor.com® released the results of its Home Crush Survey, which studied the way men and women react to homes on the market.

Realtor.com defined a “home crush” as a listing that a consumer likes and looks at more than once online or in person. The survey ran on realtor.com from Jan. 9-20 and found that more than 1,000 respondents reported having a home crush.

“We conducted the survey to see how searching for ‘the one’ in real estate correlates to searching for ‘the one’ in love, and we found that they’re very similar,” says Barbara O’Connor, chief marketing officer at realtor.com. “Buyers have to evaluate crushes based on turn-ons and -offs, and whether the home is in their league, so they often find themselves spending a good amount of time checking out their crush online.”

Overall, 69 percent of those surveyed said that they developed a house crush, and 31 percent did not.

“According to our data … men and women prioritize differently,” says Leslie Piper, consumer-housing specialist at realtor.com. “Men are more likely to move from one crush to another on a weekly basis and consider a garage an important home feature. Women tend to find a new home crush on a monthly basis and swoon for updated appliances and fixtures. However, the survey found that women and men share some common ground in that outdoor living spaces topped the list as the attribute most likely to make them fall in real estate love.”

Piper says it’s important for buyers to start with a short list of deal breakers. In real estate buying as in romantic love, it’s possible to fall for a house that isn’t ideal once owners strip away that initial emotional connection.

Overall, women are more likely to cultivate crushes on homes that are out of their league financially. Of the women included in the survey 41 percent said that their home crush was out of their price range, but only 30 percent of men said the same thing.

Men and women’s timeline

Of the women included in the survey:
• 29 percent said they cultivate a new house crush weekly
• 26 percent develop a new house crush monthly
• 17 percent develop a new crush quarterly

Of the men included in the survey:
• 36 percent said they find a new house crush weekly
• 19 percent establish a new house crush monthly
• 15 percent develop a new crush on a house quarterly

Top attributes that make consumers fall in real estate love

Of the women included in the survey:
• 54 percent said outdoor living spaces
• 42 percent open floor plans
• 29 percent curb appeal
• 29 percent updated appliances and fixtures

Of the men included in the survey:
• 46 percent said outdoor living spaces
• 40 percent garages
• 35 percent curb appeal
• 30 percent open floor plans

© 2014 Florida Realtors®


Good News about Higher Interest Rates!

Higher interest rates could lead to more loans


NEW YORK – Aug.16, 2013 – With fewer homeowners refinancing their mortgages because of rising interest rates, banks may soon relax their lending standards to ramp up business, according to the Mortgage Bankers Association (MBA).
Credit availability has risen 3 percent since May – when mortgage rates began to rise – according to an MBA survey. Refinances have fallen 59 percent from a year ago, but applications for home purchases have risen 5 percent.
In recent years, tight underwriting standards have been blamed for shutting people out of the housing market. Many potential borrowers haven’t had the higher credit scores and larger downpayments needed to qualify for a loan.
“As volumes slow, it makes sense that originators might ease some of their overlays as they now have the additional bandwidth to focus on slightly lower-quality loans or those loans that require more intense underwriting prior to approval, such as loans for self-employed individuals or investors that own multiple homes,” Craig Strent, CEO of Maryland-based Apex Home Loans, told CNBC.
“Competition for loans, particularly for home purchases, will continue to rise as refinances wane and originators look for continued loan volume to support the infrastructure they put in place during the recent refinance wave,” he adds.
Source: “Higher Mortgage Rates May Mean Easier Credit,” CNBC (Aug. 5, 2013)
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688