No Time Like The Future – Real Estate in 2030 Holiday Blog Swap

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Posted By Residential Properties on December 15th, 2011

Real Estate Blog Swap

Helen Adams Realty and Residential Properties are members of The Active Enterprise Network, a union of privately-held real estate companies across the country that share information and strategy as well as a unified technology platform.

No Time Like The Future

It’s time to hop into the DeLorean and take a cruise into the future – to the year 2030. As Christopher Lloyd’s character Doc, in the Back to the Future trilogy so elegantly expressed, “that this point in time inherently contains some sort of cosmic significance. Almost as if it were the temporal junction point for the entire space-time continuum. On the other hand, it could just be an amazing coincidence.”

Back To The Future

There could be a touch of foreshadowing in the Doc’s quote. This is a pivotal moment in time for technology. The Post-PC Era has begun, which could have a significant impact on the future of real estate.

There are 3 technology shifts that are developing right now that are reshaping the industry.

1: Mobile:
There’s no doubt that the explosion of mobile has impacted most industries and real estate is no exception! ComScore reports that 82.2 million people now own smartphones and that number is growing everyday. It’s safe to say that all phones will soon be “smart.”

2: Cloud Computing:
According to the Wav Group study, “The Shift in Real Estate Technology,” technology is the new hub that businesses are built around. Cloud computing will help enable and power that hub allowing Realtors® to work remotely and better serve consumers with valuable data at their fingertips.

3: HTML5
HTML5 will be the future of real estate websites and applications permitting consumers to access technology across all devices and screen resolutions.

With mobile and cloud computing still in its infancy and standards still being finalized with HTML5, these technologies will shape brokerages for the coming years. But what will the real estate industry look like even further down the road in 2030?

Not only will technology change but the style of homes will change as well. “The biggest thing that is expected to change in future single-family homes is the size.” Erika Riggs, Zillow, wrote in “A Look Ahead at New Homes of 2015.” Many of these changes reflect a desire for builders and consumers going green. Smaller space means more efficient heating and cooling.

Space and communities will be an essential focal point. Real Estate agents will use mobile technology to work in the field and become experts in not only managing the transaction but educating buyers and sellers on green technologies, the community, schools, life style, architecture and more!
Now let’s head back to reality. As Marty McFly declared, “Time circuits on. Flux Capacitor… fluxxing. Engine running. All right!”


By Tom Flanagan, Technology Director at Residential Properties, serving Rhode Island Real Estate, a proud participant of the Holiday Blog Swap, presented by The Active Enterprise Network.
Twitter:@tflan
Facebook: http://www.facebook.com/tflan
Google+: G+
Inman News: Syndicated Technology Columnist at Inman

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More article on Real Estate in 2030 found here: Smith & Associates, Helen Adams Realty, Murney Associates, Windermere Tri Cities, Reinhart Realtors, The Group, inc., Hasson Company, McEnearney Associates, N.T. Callaway, and LandVest.

Living in Providence Plantation

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Posted By Scott Farrell on August 3rd, 2010

Located in Southeast Charlotte lies the community of Providence Plantation. Entering the neighborhood from Providence Road, you will be greeted by an abundance of trees, gently arched, resembling the entrance to an enchanted forest. Home to more than 1,250 homeowners, this family friendly neighborhood welcomes many new residents to the Charlotte area. The popularity of Providence Plantation is based on the excellent schools, great amenities, convenience to I-485 and the nearby entertainment venues.

Grade school children attend Providence Springs Elementary, ranked the
#1 elementary school in NC. Crestdale Middle School is among the few public schools in NC to achieve a “`10” rating, according to Great Schools.org. High school students attend Providence HS, the highest performing high school in Charlotte-Mecklenburg’s school system.

Neighborhood amenities include Providence Plantation Racquet and Swim Club. Membership is very affordable and offers residents of the community a great way to meet others who enjoy similar activities.

Approximately 3 miles away you will find The Arboretum. A popular destination for shopping, restaurants, movies, and live outdoor music. Home to popular chain stores, as well as merchants unique to the area.

Sightings of wildlife, passing through, can be seen both day and night. It is not unusual to see a family of deer cross your path. During the spring and summer, rabbits can be regularly spotted, much to  the delight of young children.

Looking for a wonderful community with good resale value, home prices to fit many budgets, miles and miles of walking paths, tennis and swim club,easy commutes to the most popular spots and great schools? Check out Providence Plantation!

Good Faith Estimate – What is it and how has it just changed?

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Posted By Scott Farrell on January 8th, 2010

WASHINGTON – The U.S. Department of Housing and Urban Development new mortgage reforms are in place that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers. HUD will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. HUD estimates its new regulation will save consumers nearly $700 at the closing table.Filling out Good Faith Estimate

A good faith estimate must be provided by a mortgage lender or broker in the United States to a customer, as required by the Real Estate Settlement Procedures Act (RESPA). The estimate must include an itemized list of fees and costs associated with your loan and must be provided within three business days of applying for a loan.  These mortgage fees, also called settlement costs or closing costs, cover every expense associated with a home loan, including inspections, title insurance, taxes and other charges.  A good faith estimate is a standard form which is intended to be used to compare different offers (or quotes) from different lenders or brokers.  The new form is designed to be easier to read for the consumer.  To fully understand the new rules you should contact your mortgage loan officer or your real estate agent.

Fannie Mae & Freddie Mac News

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Posted By Jeff Adams on December 29th, 2009

On December 24 the Obama administration made a decision to cover an unlimited amount of losses at the mortgage finance giants, Fannie Mae and Freddie Mac through 2012. The WSJ quotes the Treasury Department as saying that, “unlimited access to bailout funds through 2012 was necessary for preserving the continuing strength and stability of the mortgage market.” In a separate article linked above the WSJ reports that the 10 year treasury is heading higher and that 30 year mortgage rates are expected to follow suit this spring as the government mortgage-purchase program comes to a close.

A December 28 WSJ article reports that, “Today the government, directly or indirectly, underwrites nine of every 10 new residential mortgages, nearly twice the percentage before the crisis.”  Regarding  Charlotte homes, if 9 of 10 loans are conforming to the limit of $416,000 then home markets which sell in this price range and below should continue to solidify, however the secondary market above this loan limit remains less certain.

New Rules for RESPA (Real Estate Settlement Procedures Act) take effect January 1, 2010

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Posted By Scott Farrell on December 17th, 2009

Starting January 1, 2010 the federal government will fully implement the new regulations that were published on November 17, 2008.

What is RESPA? RESPA is about closing costs and settlement procedures. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD.

HUD is requiring that loan originators provide borrowers with a standard Good Faith Estimate that must clearly disclose key loan terms and closing costs and that closing agents provide borrowers with a new HUD-1 settlement statement. If you are interested in reading HUD’s  “New RESPA Rule FAQs” click here.  The FAQ’s were comprised from industry questions.
Why was RESPA created? It was created because various companies associated with the buying and selling of real estate, such as lenders, realtors, construction companies and title insurance companies were often engaging in providing undisclosed Kickbacks to each other, inflating the costs of real estate transactions and obscuring price competition by facilitating bait-and-switch tactics.
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For example, a lender advertising a home loan might have advertised the loan with a 5% interest rate, but then when one applies for the loan one is told that one must use the lender’s affiliated title insurance company and pay $5,000 for the service (whereas the normal rate is $1,000). The title company would then have paid $4,000 to the lender. This was made illegal. The reason is to make prices for the services clear so as to allow price competition by consumer demand and to thereby drive down prices.

For more information on RESPA contact Helen Adams Realty at 1-800-851-5253 or visit our website.

Information on the $6500 tax credit

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Posted By Scott Farrell on December 11th, 2009

As we move into the second phase of the homeowner tax credit consumers and real estate agents need to be reminded of just what is in this bill.  You just don’t get the $6500, there are conditions that must be met.  There are key dates involved in this process if you expect to qualify.

Some of the basics are:

If you’re married, you and your spouse also must pass the consecutive-year test.

Homes valued at $800,000 or more do not qualify.

A first-time buyer does not mean a person who has never purchased a home. The IRS defines a first-time buyer as anyone who has not owned a principal residence during the three-year period prior to the purchase.

For married taxpayers, the law tests the homeownership history of both the homebuyer and his/her spouse.dilworth-home

For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse would qualify for the first-time homebuyer tax credit. However, spouses could be eligible for the repeat buyers’ $6,500 credit.

Unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter.

Key Dates:

Nov. 7, 2009: For current homeowners, the home must be purchased on or after Nov. 7, 2009, to qualify for the credit.

April 30, 2010: Purchase and sales agreements must be dated by all parties with a date on or before Friday, April 30.

June 30, 2010: Purchases must close on or before Wednesday, June 30.

For more information contact Helen Adams Realty at 1800-851-5253 or visit our website.

Recessions are Temporary

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Posted By Jeff Adams on December 3rd, 2009

If you look at the cycle of our economic ups and downs, the recession we have just gone through has clearly outstayed its welcome. This current recession has lasted around 19 months, far and away the recession-graphiclongest economic slowdown in our history.

The following is an excerpt from the July edition of Moody’s economy.com, and if you would like to read the entire report it is posted on our website, click here.

“Although house prices are not expected to stop falling before mid-2010, the pace of decline will be slower than the national average. Unlike the worst hit housing markets in the nation, Charlotte’s housing market is not oversupplied. Rather, rapidly rising unemployment and income losses are the main culprits behind the area’s weak housing market. Despite the persistence of these negative fundamentals, foreclosures have edged down recently, according to data from Realty Trac.

Median house prices also fell less than at the national level. Although these developments provide some hope that Charlotte’s housing market is headed toward stabilization, the above-average unemployment rate will come in the way of faster progress. The lack of improvement in home sales despite lower interest rates earlier this year illustrates this point.

Although job losses have abated somewhat, the recovery of the Charlotte economy will be weaker than had been expected earlier this year. Restructuring in the banking industry will result in a below-average short-term performance. The fallout from housing and global credit issues is adding stress to financial firms and the business service companies that support them. Nevertheless, Charlotte still has advantages in its highly educated workforce, mix of industries, and comparatively low living and business costs. In the long term, Charlotte is expected to outperform the U.S. Economy.”

First Time Home-buyers lead the Market back

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Posted By Scott Farrell on November 16th, 2009

CNBC, along with many other financial news services report that “First Time Home Buyers” are rescuing the housing market.  CNBC reports that given the success of the first time home buyer credit to date and the need for qualified buyers to absorb the inventory coming from additional foreclosures next year that the extension of the credit will help stabilize the market.

To read the full aritcle visit click here, CNBC.

Extension of the Home-Buyer Tax Credit still moving forward in the Senate

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Posted By Scott Farrell on October 28th, 2009

Details released today by Senator Dodd that the democrats have reached an agreement to extend the soon to expire $8,000 tax credit for first time home buyers.  Republicans cautioned that negotiation continue.  Neither side released any details but the extension will be phased throughout 2010.  The full credit will extend to March and then slowly decrease as 2010 progresses.  To read more about this story got CNBC’s website.

Charlotte #3 for Most Popular Relocation Cities

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Posted By Helen Adams Realty on September 24th, 2009

According to the U.S Census 34 million Americans moved in 2007.  According to Relocation.com’s search results Charlotte came up as #3 for most interest.  CNBC posted the results today on their website. Click here to see a slide show of the top ten results.charlotte-results-page

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