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2945 Westwood Blvd
Los Angeles, CA 90064
Phone: 310-441-0111
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Real Estate News

Latest Realty News from NAR

Story Ideas: Landscaping Projects Anyone Can Tackle

Spring has sprung, and for many homeowners, this means it is time to head outdoors. Now is the time of year to tackle landscaping projects, and HouseLogic has ideas for projects that even the most amateur gardener can take on.

Installing a path with flagstone or gravel is a simple, yet charming yard addition anyone can take on in a weekend and can have a significant impact on a home’s curb appeal. DIYers should make sure to allow three feet of width for clearance, remove sod at least three-to-four inches deep to keep grass from growing back and create curves in the path rather than straight lines for a more visually pleasing effect.

Story Springboard:

Check out HouseLogic’s “The Mistake-Free Guide to an Easy-Care Yard(link is external)” for more simple landscaping tips. Speak with a professional landscaper in your area about which projects homeowners can take on themselves and which projects need the help of a pro. Talk to a REALTOR® about which landscaping projects will add the most curb appeal.

You can view all of NAR’s Real Estate Story Ideas here or follow the RSS feed here.

Each month, NAR produces a few story ideas for the media, presenting timely topics accompanied with background information and facts related to the real estate market. These housing and real estate story ideas are designed to help media generate content for news stories, hopefully serving as a helpful resource to those in the media looking for stories or new angles.

Instant Reaction: March Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics (BLS) report on the employment situation in March:

“The March jobs report was a bit soft, and first quarter GDP growth rate also looks to be weak. Heavy snow in parts of the country, and the uncertainty related to potential trade war, may be (as of now) hindering companies from hiring.

Although fewer people worked in construction in March because of the unusually cold wintry weather, job openings in the construction industry do remain at a historic high. If home builders can readily fill those jobs, then home construction significantly ramps up, and thereby brings more housing inventory to the market. 

Looking ahead, 3% GDP growth does look easily possible in upcoming quarters, with more construction jobs leading to more job creations in other segments of the economy.”

WATCH: Realtors® March Housing Minute

Existing-home sales and contract signings both experienced meaningful increases in February despite higher mortgage rates, rising home prices and subpar supply levels in much of the country.

Visit https://www.nar.realtor/videos/housing-minute to watch a 60-second, animated video from the National Association of Realtors® summarizing how the housing market performed in February, as well as a look at homebuyer data by generation from NAR’s 2018 Profile of Home Buyer and Seller Generational Trends.

Instant Reaction: Lawrence Yun on Today’s FOMC Statement

The following is NAR Chief Economist Lawrence Yun’s reaction to the Federal Reserve’s decision today to raise short-term interest rates:

“We are in the middle innings of monetary policy normalization. Interest rates that the Fed directly controls – the federal funds rate – were raised three times in 2017. Today’s action is the first of three rate hikes in 2018. Another three hikes are likely on deck in 2019. Mortgage rates do not move one-to-one with the Fed tightening, but clearly consumers should anticipate higher mortgage rates as time proceeds.

The tight labor market will hurry-along the Fed to raise rates. Housing costs are also rising solidly and contributing to faster inflation. The one thing that could slow the pace of rate increases would be to tame housing costs through an increased supply of new homes.  Not only will more home construction lead to a slower pace of rate hikes, it will also lead to faster economic growth. Let’s put greater focus on boosting home construction.”

St. Patrick’s Day: Looking at a Market Going Green

To celebrate St. Patrick’s Day, the National Association of Realtors® is going green.

Recent data has shown that Realtors® are seeing green properties and energy efficient homes becoming more popular with home buyers. According to the NAR Sustainability Survey, nearly half of Realtors® see consumer interest and demand for greener, more sustainable properties.  Below are highlights from the report.

Regarding renewable energy and its impact on the real estate market, according to Realtors®:

  • 43 percent report their MLS has green data fields
  • 27 percent involved with between 1 to 5 properties that had green features
  • Nearly 40 percent said clients find green spaces important
  • 80 percent of Realtors report solar panels in their market
  • Seven in 10 said that energy efficiency promotion is listings was very or somewhat valuable

Home features that Realtors® said their clients consider important:

  • Home’s efficient use of lighting (50 percent)
  • Smart/connected home (40 percent)
  • Green community features such as bike lanes and green spaces (37 percent)
  • Landscaping for water conservation (32 percent)
  • Renewable energy systems such as solar and geothermal (23 percent)

Instant Reaction: February Housing Starts

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce Department report on residential construction in February:

“The fall in housing starts in February is a movement in the wrong direction. The key to economic prosperity at this juncture of economic expansion is to produce more new homes. That will help with job creation and reduce the swift price appreciation in several markets. 

A total of 1.2 million homes were constructed last year, which was vastly inadequate. Last month’s annualized rate of 1.24 million is only a hair above 2017’s figure. It’s not enough. While relaxing regulations on small-sized community banks may spur more construction loans for building, labor shortages in the industry continue to stunt overall activity.”

#PiDay Pie Charts!

Happy Pi Day! Celebrated every year on March 14 – 3.14 – it is the perfect time of year to celebrate all things Pi.

Here at the National Association of REALTORS® we are looking at some of our favorite Pie Charts from the most recent Profile of Home Buyers and Sellers (and eating a slice of cherry pie, and apple, and maybe blueberry!).

 

 

 

 

 

Submit Your 2018 Men’s and Women’s #REALTORBrackets

Can you play ball with NAR President Elizabeth Mendenhall?

The NCAA Division I men’s and women’s basketball tournament is set to begin this week. It looks like it will be another March Madness full of surprising upsets and nail-biting finishes.

Do you have the skill (see: luck) to beat NAR’s president and submit the winning bracket? Click on the links below to make your bracket picks for both the men’s and women’s tournament.

  • Men’s Tournament Challenge – http://bit.ly/2HfwjVQ

  • Women’s Tournament Challengehttp://bit.ly/2GnJYuM (Women’s bracket will be announced at 7 p.m. ET Monday night. Bracket picks start after 8:00 p.m. ET)

Steps to enter (It only takes a few minutes!):

  1. Go to the #REALTORBrackets Tournament Challenge men’s and women’s group pages
  2. Log into your ESPN.com account, or sign up for one at ESPN.com. Log in or register following the “log in” tab in the top right-hand corner of ESPN.com. You also have the option log into ESPN using your Facebook account.
  3. Once logged in, click the blue “join group” tab
  4. Create your bracket and click submit. You have until noon ET on Thursday, March 15 to submit and/or make changes to your bracket

Deadline to submit your #REALTORBrackets
Men’s – 12:00 p.m. ET on Thursday, March 15.
Women’s – 12:00 p.m. ET on Friday, March 16.

Reward: 
The right to annoyingly brag to your family, friends and clients for winning #REALTORBrackets.

Instant Reaction: February Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics release on employment conditions in February:

“The strong job growth assures at least three interest rates hikes by the Federal Reserve in 2018. Because of the low unemployment rate, further normalization in monetary policy should be expected in 2019 as well, meaning another three or four rate hikes next year. Mortgage rates will therefore rise and rise. That in itself hurts housing affordability. But factors that can help with affordability are more income to households (possibly a second income earner getting a job) and if home prices can finally moderate. For slower home price growth, more home construction is needed. Job openings in the construction industry remain at historic highs. It is now a matter of providing necessary skills to go into the industry.”      

International Women’s Day: Women in Real Estate

Happy Intenational Womens Day Horizontal Banner Group Of Diverse Girls Over Pink Background

Today is International Women’s Day, a day to celebrate the social, economic, cultural and political achievement of women around the globe. To mark the occasion, here is a look at women in real estate.

The typical REALTOR® – a real estate professional who is a member of the National Association of REALTORS® – is a 53-year-old white female who attended college and is a homeowner.  Female members working in residential real estate are more likely to work in suburban areas and small towns and have a median of 12 years of experience (in 2017).

Business Characteristics:

63 percent of all REALTORS® are female

  • Among broker licensees, 58 percent are female
  • Among sales agent licensees, 67 percent are female
    • Among part-time sales agents, 70 percent are female
    • Among full-time sales agents, 64 percent are female

 Hours worked:

  • 13 percent of women in residential real estate worked 60 hours or more in 2017
  • 35 percent worked between 20 to 39 hours

Specialty:

  • 70 percent of female REALTORS® work exclusively in residential real estate (compared to 45 percent of male members)
  • 4 percent of female REALTORS® work exclusively in commercial real estate ( compared to 15 percent of male members)

Income:

Among females working in residential real estate:

  • 52 percent made less than $50,000 in annual gross income in 2016
  • 9 percent made $200,000 or more in annual gross income

Transaction volume:

  • Women in residential real estate had a median of 8 residential transactions
  • Women had a median sales transaction volume of $1,866,700 in 2016

 

 



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