Power Tools for Buyer's Representatives

Come join us!

2008-07-11T22:05:20Z

Come check out the new blog from NAR's Information Central! "Power Tools for Buyer's Reps" is no longer being updated, but you'll find plenty of interest in the InfoCentral Blog. The InfoCentral Blog keeps you up-to-date on new and useful information resources for the real estate industry -- websites, research reports, eBooks, news articles, services and databases from NAR's Information Central, and more. Surf on over to http://narblog1.realtors.org/mvtype/infocentral/.

Handouts for Buyers

2007-12-28T16:22:54Z

NAR's newly redesigned REALTOR® Magazine Online contains a section called Handouts for Customers. Here you will find handouts for clients on topics such as 10 Ways to Prepare for Homeownership, 7 Reasons to Own Your Own Home, and How Big of a Mortgage Can I Afford. There are 35 handouts for buyers which you can customize for your newsletter, web site or promotional kits. You'll also find handouts for sellers on the same page.

Chimney Inspections are Important

2007-11-21T16:40:25Z

Don't forget to have the chimney inspected before buying a home. Hidden dangers can become serious hazards. REALTOR® Magazine Online summarizes the three levels of inspections and what they may cost.

Bonuses for Buyer's Reps

2007-10-23T20:18:35Z

We keep hearing about sellers throwing in perks to entice buyers to purchase their properties. It is a buyer's market afterall. But now real estate agents are also seeing incentives come their way. According to MarketWatch.com, home builders have offered such things as $5,000 American Express gift cards and car leases in exchange for a completed real estate deal. NAR comments on these practices in the MarketWatch article.

Builders Go To Extremes

2007-08-28T20:48:43Z

As new homes sales decline builders are more willing to offer incentives to get those houses sold. Want a free pool? How about thousands off upgrades? You just might be able to maneuver those perks. The Wall Street Journal reports that "the latest survey taken by the National Association of Home Builders indicates that 56% of builders are now offering incentives, up from about 45% a year ago."

Financing Contingency Paragraphs

2007-08-20T21:50:54Z

Realty Times discusses the ins and outs of the financing contingency paragraph (FCP) and how these can be either a blessing or a curse to the buyer. The author offers "a few steps to keep in mind in removing this contingency and keeping [the] deposit safe and the transaction on track."

Miami Condo Boom Is Over

2007-07-27T15:03:37Z

What once was a bustling condo market has turned into a nightmare for some. Many buyers are now trying to get out of contracts because they're losing money on their investments. ABC News reports on the change in market climate and how some buyers are trying get out.

Homes With Grandparent's-Suites

2007-05-29T17:38:51Z

Home owners write in to RealEstateJournal.com for advice on what to do with the grandparent's suite on their lower level. Will it help or hinder sale of their house in the future? Should they convert the kitchen to a vanity area? "Gopal Ahluwalia, director of research for the National Association of Home Builders, says the trade group's surveys show that 59% of buyers prefer a first-floor master suite to a second-floor one. But that leaves a substantial minority, 41%, who want a second-floor one."

Boomers Seek Accessibility

2007-05-18T20:11:04Z

A survey recently released by the American Institute of Architects shows that Baby Boomers are starting to plan for potential accessibility issues. They are becoming interested in home features such as "wider hallways and doorways; bed, bath and kitchen facilities all on one level; and few, if any, steps to the front entryway." CNNMoney reports on this and other housing trends. View the AIA press release here.

Bad Fads

2007-05-01T17:18:19Z

Money Magazine recently came up with a list of the "5 dumbest renovation fads." What made it onto the list? Cavernous great rooms; kitchens that are so big that they are no longer functional; garages that overwhelm the curb appeal; ill placed porches; and poor lighting choices. Money offers suggestions on better ways to incorporate these features into a home. Help your buyers notice the good and the bad in these spaces.

RMO news summaries

2007-04-16T16:14:59Z

Let REALTOR® Magazine Online help you stay on top of news useful to buyer's representatives. In "3 Buyers You May Want to Avoid" RMO summarizes a Market Watch article on why certain buyers may be challenging to work with. "New Rules for Buying a Home Before It's Built" summarizes a New York Times reporter's advice on preconstruction purchases.

Latest condo amenity...schools

2007-04-03T17:30:32Z

Forget the gym or the rooftop deck. The latest amenity in condo buildings is an in-building school. It's a common occurrence that many young urban couples live in the city then move to the suburbs once they start having children. To draw interest in new developments some developers in urban areas such as Hoboken, NJ, are adding schools to the list of building amenities. These schools are usually private, such as Montessori or Catholic, but some are charter schools. The demand for admission to some of these schools is so high that there are even waiting lists for preschoolers. "'There is a real focus by the city administration in Hoboken to raise the level of education...'and having this school locate here will benefit the overall community. Plus, it will help build a sense of community in a place that has become a new neighborhood in a very short period of time.'"

Buyer Interest on the Upswing

2007-03-22T16:09:13Z

RealEstateJournal.com reports on a variety of current trends in real estate markets across the U.S.: house flipping has lost some popularity and is becoming less profitable; the spring surge in real estate sales has started early in Westchester County, NY; Massachusetts home sales have increased almost 13% since last January; and while sales have been down in Chicago, prices seem to be on the upswing. They believe the evidence points to an increased interest from potential buyers.

Luxury Consumers Seek Discretion

2007-03-07T16:17:55Z

Who are your luxury consumers and what are they looking for? Coldwell Banker Previews reports that this elite group is made up mostly of executives, physicians, lawyers, financial professionals, entertainers and athletes. While media rooms and wired homes are important to these luxury consumers, privacy ranks as the number one concern. They want to work with real estate professionals who are discrete, can provide customized service, know their markets, and can work well with their personal assistants. REALTOR® Magazine Online reports.

Savvy young buyers do own research

2007-02-16T17:42:49Z

Young buyers in New York are savvy investors. They are taking research into their own hands and looking into such things are comparables, building history, and the financial stability of developers on their own. "Brokers say that younger buyers, especially those under 30, often approach their first home with cold calculation and an appetite for risk more often associated with real estate moguls." They conduct more research on their own and are willing to take on more risk. Making a downpayment of 10% or less is a comfortable option for them. "They treat these purchases first as portfolio diversifiers and only second as homes." The New York Times profiles the path of several young buyers. (NYT free registration required.)