Amazon recently hurt the real estate giant Zillow's stock by saying that they are entering the Real Estate industry. May they be getting into it? 

In what appears to be a counter or possible warning shot to the Zillow's recent actions that indicate that Zillow may be attempting to cut out the Realtors or form a giant national brokerage for real estate. The e-commerce behemoth quietly debuted a new "Hire a Realtor" page under the Home and Business services section that featured a field in which to enter a ZIP code followed by a "Coming Soon" message.

The page appeared to tease a service that would allow consumers to hire real estate agent through amazon. But by Wednesday afternoon that page had been taken down. The preview prompted investors to speculate that the company was seeking to take a bite out of online real estate database like Zillow and Redfin's market share. Once the news surfaced. Zillow's stock price slumped, this indicates closely how investors are watching for Amazon's next big move. 

Can this mean that  consumers will soon be able to command Alexa to find them a house, as "The Real Deal" magazine headline joked? 

Blake Anthony Papalia 

Broker 

Home Made Real Estate 

Realtor.com advises particular consideration to these often-overlooked areas: 

Nighttime atmosphere. Advise clients to view a home at different times of the day and night. "A community can change drastically when everyone is home from work and school," says Aaron Norris Group in Riverside, Calif. Norris says he speaks from experience. He learned after purchasing his home that a college students pack into hereby houses and party on the weekends.  

The commute. Buyers should test their morning and evening drive between any potential home and work. Does traffic make it difficult? Clients should know upfront if a home's location will require them to leave earlier in the am. 

Home owners association (HOA) rules. If a buyers potential home falls under a homeowners association, encourage them to review a copy of the bylaws. The association's conditions, covenants and restrictions describe regulations on what homeowners can do with their property. It could also give buyers some insights into the neighborhood, such as whether there are any rental restrictions. Some clients might not be comfy living next to a home that is rented out.   

Specialty inspections. The home may contain items that need to be assessed by specialist who go beyond a general inspections. If the property contains a septic system or solar panels, for example, a buyer may want a special evaluation.    

Blake Papalia 

Broker 

Home Made Real Estate 

University of Central Florida (UCF) Economist Sean Snaith predicts that FL's gross state product will break the $1 trillion mark next year.

That would make FL thee 16th largest in the world, was ranked by the World Bank. Driving the economy will be job growth and home construction.  "The fundamental underpinnings of the housing market in FL continue to strengthen. Job growth in FL forecast  to continue outperforming the U.S. labor market and more baby boomers continue to reach the en of their working lives".  

Florida faces a growing single-family-housign shortage because o the shrinking inventory of of existing homes and a pace of housing starts that trails growth, which is rapidly pushing prices upward. 

"While it looks like a housing bubble it's really just an old-fashioned shortage in the single-family-housing market." It is expected to correct itself and new housing will start to ramp up oevr the next few years."   

Blake Anthony Papalia 

Broker 

Home Made Real Estate 

You've now passed, sign on with a new brokerage and received your new license. Now were is the instruction manual on how to be a real estate professional?  It's the first day of "school" and you have no idea on what to do, what to expect and how to get started?

Your first year will be very hard. If you make it through the first year  and do 10 transactions, you have enough momentum to build a career in real estate. In your first 100 days you need to build traction. The clock is ticking and your first 100 days are counting down. Get yourself 1 firm transaction and at least 2 more buyers you have already started working with in your first 100 days.   

1. You are now a brand

You are being watched every were you go and being listened to regardless if you realize it. Make an impression that is professional and approachable. 

2. Be professional

You want to be successful. Dress like a professional, arrive on time. Clean your car. Be organized. Be well groomed and professional in your leisure time as well.  

3. You are a salesperson

Your knowledge, expertise and selling yourself is on stage at all times. Your selling ourselves. Be available, ethical, enthusiastic and hard working. You have the support of  a great brokerage and colleges at all time. Your team is there and work together on every deal.  

4. You are now a business

Project your expenses and your net of you do 5 sales in your 1st year at the average residential sales price in your area. Don't spend money you have not made. Set up files, keep receipts, 

5. You are your own administrator

Create a calendar, keep an organized log. Write down everything that you are doing in your business, track your progress. Track were your time is going and what is bringing you success. Where are your leads coming from. What is working for you? What isn't working for you?  

6. You are your own PR department

Write down the names and contact info of everyone you know. Create a database. Grow your sphere of influence. Let everyone know you meet you are in Real Estate and ask them if they have a trusted Real Estate adviser or if they would consider working with you. Email or post office mail a price of information of value  to your data base at least once every quarter.      

7. Project that you need to talk to 100 people about real estate before you get 1 firm transaction.

This doesn't include friends or family who may not want to do business with you. If you want to do 10 transactions this year. You need to talk to 1,000 people about what you do. If you don't believe me, start counting.   

8. Do 100 open houses this year

Yes 100, that is your magic number. It could be 1 or 2 or 4 a weekend. If you don't like open house's go door knocking, you need to talk to people face to face about real estate.  

9. Engage everyone and talk to everyone you meet or encounter, don't be a "secret agent".

Start a conversation, study people, study youtube on the subject. 

10. Go to your weekly sales meeting at your brokerage if they offer it.     

See as many houses as you can. Study prices in your market. Research how the listing agent may have come up with the pricing. Every week study a new neighborhood. Walk around, drive around, study amenities, schools areas, parks, places of worship. Study typical home styles, Know the price history of that neighborhood for the last 12 months.  Then do it for another neighborhood, then another until you know the whole city this way. 

And show up. The first few weeks can be very discouraging, keep on the basics. After a while of doing the core things, something will take hold. You will find your niche, your best way of meeting and engaging new clients. You can build on that... But it won't happen if you don't show up. 

Good luck, contact us for any help or guidance. Real estate is a wonderful and exciting career that you will love. You have to be a work horse though. We earn every penny of those large commission checks that come with the territory. 

Blake Anthony Papalia

Home Made Real Estate/Broker   

Co-living arrangements aka dorms for adults- in essence adult dorms or micro apartments that incorporate a social element shared by all renters- are soaring in popularity More developers are designing units that accommodate younger adults and provide social interactions for strangers who choose to move into together as rental costs surge.

Millennials are surging into the formation of adult living wanting to keep there freedom and adult hood instead of going from dorm and college living back to home. Creating the right set-up is one goal, but another is fostering a social environment.

Programs are a big peic of it, big amenities platforms. you don't need to join an outside gym because the gyms are over sized. The same goes for the co-working space. 

The building also features a large communal rooftop deck. We should expect to see around 3,500 units to roll out over the next 5 years on a conservative scale. The will have all similar bones in there development philosophy. 

Blake Anthony Papalia 

Home Made Real Estate/Broker 

Global uncertainty and political polarization are the top threats facing the housing industry in 207-2018. Despite this unsettling environment, opportunity remains embedded in every issue on the list.

Top 10 issues:

1. Political polarization and uncertainty. Uncertainty about changes to trade, travel and immigration policy threatens cross-boarder investing, hospitality properties, retail and manufacturing supply chains among other effects. Rising interest rates and retail inflation will make middle-class home ownership that much more difficult. Long-term issues can  be much more severe as polarization prevents long-term fixes to issues such as infrastructure, affordable housing, local and state pension liabilities and education.

2. The technology boom, unprecedented wave of  commercial real estate technology innovations is expected to change the way real estate is bought, sold and managed.

3. Generation disruption. Boomers and millennials of where they live, work and play have a  great impact on our markets.  

4. Retail disruption. Transfer of goods from inventory to consumer will have a impact on brick and mortar. 

5. Housing disparity. lack of inventory to supply the demand for affordable housing areas. 

6. Infrastructure investment. Steemed from the need of retail and goods in the retail disruption place. It is recognized the long-term benefits to strengthening this sector with airports, bridges and roads. 

7. Threats to the middle class. Income has been stagnate for these areas. $54k + was the one-time average and has yet to reach that. 

8. Emerging role of healthcare in real estate. Building designs and structure is being demanded that they inhibit healthier environments. 

9. Immigration. Labor shortages in home building are a growing concern in a critical time when inventory is needed to supply the demand. 

10. Climate change. The implications of rising sea levels and related to real estate positioning to explode due to dramatic in the volume and accessibility of the consequences on sea rise. Sea are expected to raise from 6.6-8.6 by 2100.  Miami, New York, Tampa and Boston are projected to have the greatest impacts.  

Investors are backing away from home flipping today data shows in the 1st quarter of 2017. About 43,615 single family homes and condos were flipped in the 1st quarter of 2017. Down 8% from the previous quarter and 6 % from last year. It represents the lowest number of flips in two years. A flip is defined as a home that has been sold twice in a 12 month period.  Home flips accounted for 6.7% of all single family and condo sales for the quarter, one third which were purchased with financing. That's up from 31.9% that were financed in the fourth quarter of 2016, setting the highest level since the third quarter of 2008. 

The states with the highest level of home flips in the 1st quarter of 2017 are:

The district of Columbia: 10.7%

Nevada: 9.8%

Alabama: 9%

Tennessee: 8.9%

Maryland: 8.5%

Missouri: 8.5% 

The cities with the highest-home flipping rates were:

Memphis, Tenn: 15.1%

York-Hanover,Pa: 12.5%

Fresno, Cali: 11.1%

Birmingham, Ala: 10.3%

Las vegas: 10% 

Saving up the down payment is the biggest challenge for many home buyers. Especially those looking to make a leap from renting to buying.  While there are many loans that require as little to as 3% down for initial payment. 76% used there savings as a down payment in 2016. Here are some tips to consider when saving for your down payment on your home.

1. Start soon- Open a separate savings account just for your down payment. You'll also have to set money aside for closing costs.

2. Weigh loan options-The type of loan you get will determine the amount of money and loan required for your down payment. Consult with your real estate specialist and loan officer to discuss your best options.

3. Explore the options-The majority of 1st time home buyers request assistance from family or friends. They also consider pulling money from there 401k or IRA accounts. Before doing that check to see if you qualify for down payment assistance programs. http://downpaymentresource.com/

4. Consider using home equity-This can leverage your buying and investments. 

Blake Anthony Papalia 

Home Made Real Estate Broker 

The rival is heating up on which home value is more accurate. last week zillow offered $1 million prize for it's developers to improve its home evaluation tool. Claiming that it's inaccuracy was costing them money. 

Redfin claims there is no reason for customers to wait for a more accurate tool. It's says Redfins is already working just fine. Redfins accuracy report was close to 69% while zillow was only 29%. 

At the end the redfin and zestimate home values compared to the local comps and appraisals should be taken with a grain of salt.

https://www.redfin.com/city/4456/FL/Delray-Beach/housing-market 

Blake Anthony Papalia

Broker  

Investors are betting big that the rental home boom will continue. Following the financial crisis foreclosers on th cheap and rented for a profit. Now they are looking to build and rent new because investors across the country are seeing the rental market is hear to stay due to the want to buy but still cannot afford to. They are also betting that the newer homes will bring higher yields around 5-8% higher returns with less repair costs needed. Still some industry analysis believe the landlord companies might be miscalculating this market because of the new home ownership that has increased in the 1st quarter of this year since 2006 and rentals have not. Here are some pros and cons of building an investment property rather then purchasing an existing property. https://youtu.be/JlqMyVuVBoE

Blake Papalia 

Broker 

Home Made Real Estate