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Top News
A bipartisan group of lawmakers has introduced the Saving the American Dream Act, legislation designed to enhance federal coordination on housing data and policy. The bill would tear down barriers between federal agencies to allow collaboration in the development of policies and programs. "By ensuring key federal agencies coordinate and share housing-related research and market data, this legislation promotes evidence-based policymaking, says Shannon McGahn, executive vice president and chief advocacy officer for the National Association of REALTORS®.
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Apply for up to $500,000 in REALTORS® Group Term Life Insurance with QuickDecision. This allows NAR members under age 50 to answer health questions online and skip the medical exam to receive a decision. Apply today in under 30 minutes.
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Best Practices in Sales & Marketing
Fed action affects mindset, but it's the fundamentals that drive commercial real estate investment. Be the market expert and motivator bringing investors to the table—and stay attuned to the collective perceptions of buyers and sellers, writes Brendan Wewer, director of valuation and advisory at Commonwealth Commercial Appraisal Group. "When enough market participants expect values to rise or fall, that belief can become self-fulfilling—a form of groupthink amplified by fear or optimism," he says.
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(Grace Cary/Getty Images) |
Katrina Tarrant discusses the "doorknob phenomenon," where clients reveal crucial information at the last moment. Tarrant explains that clients often hold back their true concerns due to not wanting to seem difficult, uncertainty about the validity of their worries or not realizing what is bothering them until the end. Tarrant advises real estate professionals to pause longer during conversations, ask deeper questions, watch for hesitation and create space for clients to voice unspoken concerns.
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Real Estate Trends
The National Association of REALTORS® signed on to the Pew Charitable Trust's "Principles for Enhancing Housing Availability and Affordability," which are aligned with longstanding efforts to expand access to homeownership. The recommendations from Pew include four main areas of focus to reduce barriers. "With members in every ZIP code across the country, NAR and its state and local partners are uniquely positioned to help advance these [principles] at all levels of government," says NAR Vice President of Policy Advocacy Bryan Greene.
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Sellers are lowering prices as demand slows, resulting in the first annual decrease in the national median list price and price per square foot in months, according to a report from Realtor.com. The market remains balanced, but some metros have become buyer's markets. Inventory growth has slowed as frustrated sellers withdraw, sometimes leading to longer market times. Regional variations are significant, with the West and South feeling the slowdown most acutely compared to the Midwest and Northeast.
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Accent walls, once a popular interior design trend, are losing popularity as people seek more cohesive ways to add interest to their spaces, interior designers say. While accent walls can still be beautiful, designers recommend using bold colors or maximalist wallpaper to make them stand out. Alternatives such as using the ceiling as a fifth wall or creating hidden doors are becoming more popular.
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A valuation gap remains between public and private real estate markets, and this could present certain opportunities for investors, writes Nareit's Ed Pierzak. "Although this dislocation has impeded the price discovery process and limited transactions, the current wide cap rate gap suggests that there still may be more fuel in the tank for REIT outperformance in the coming quarters," Pierzak writes.
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Technology & Innovations
AI has become a ubiquitous marketing term in the smart home industry, leading to consumer confusion and potential backlash. Many products labeled as "AI-powered" use basic automation rather than true machine learning, eroding trust and creating a credibility problem for established brands like LG and Samsung. This trend has also attracted regulatory scrutiny.
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Fair & Equitable Housing
Zuri Gardens, a development in Houston, is utilizing 3D printing to create affordable housing that is both energy efficient and resilient to environmental challenges. The project aims to offer homes in the mid- to high-$200,000 range with significant down-payment assistance.
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The Last Issue's Most-Read Stories
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