Part 1: FAQ?s From Media Interviews With Real Estate Author

Do you feel there is going to be a real estate bubble?

Nash: No. Are some coastal and resort markets over-heated, yes. I don't feel that markets will collapse. But investors and property owners should be ready for longer market times, diminishing over-full-price and multiple offers in over-heated markets. Prices could plateau and appreciation levels will hover at more historical levels. If you live out-of-town from where you purchased property on appreciation speculation, I would keep in very close contact with a un-biased professional in the market, daily.

Have real estate appraisers contributed to the rapid increase in home prices?

Nash: Not necessarily. You have to understand their role in a real estate transaction. They are hired by the mortgage lender to appraise the property. The homebuyer pays for the appraisers services. The lender is in business to lend money and the real estate brokerages want to close the transaction and receive their fees. In most markets there are solid closed comparable properties that justify underwriting the loan. In rapidly appreciating markets, where there are no closed comparables to support the new value, all the participants in the transaction should be aware that there is risk involved in the new value assigned to a property in a real estate contract.

What should homeowners and investors do to protect themselves from a potential bubble?

Nash: Look for incentives by builders on completed new construction buildings or homes; this indicates an over-supply of new units. Research days on market or the length of time of property has been on market. If the typical time recently has been 30 days for sold properties and current market times for the majority of sold properties are 60 or more days, the market is softening. Home prices and mortgage rates effect each other, as interest rates drop, the more buyers can afford to pay for a home, but as rates rise buyers can afford less of a purchase price. Watch interest rates as an indictor of deflating prices.

What is your position on interest only loans?

Nash: Consumers need to look at the long-range implications of interest-only loans. They should keep in mind that if their home value declines, they still owe the loan amount, which could be higher than their homes market value when they sell. If appreciation remains low, in the two to five percent range and the cost to use a full-service real estate company to sell their home is five to seven percent, their appreciation will actually go to pay selling and marketing costs, ouch!

What do you think about two new books:" Irrational Exuberance" and "Freakonomics" that touch on residential real estate?

Nash: Both make solid contributions for real estate consumers and investors in today's environment. Everyone is looking for information to make real estate decisions. While there are many inflammatory headlines, I've found the majority of the accompanying dialogue; offer good market and real estate practices advice.

The term Realtor® is generic to most consumers but are all real estate agents Realtors®?

Nash: No and the National Association of Realtors® (NAR) is diligent on protecting it's status as an registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. NAR has approximately 1.1 million members, while industry sources state there are about an additional 1.4 million real estate agents not members of NAR.

What housing style will be hot in five years?

Nash: The ranch. As the boomers age they'll go from the two-story "I've arrived" colonial to the "I've retired" ranch. Five years ago ranch homes were not that popular and languished on the market in some areas. This last year several clients looking towards retirement and downsizing have asked to see only ranch homes.

Why did you write your fourth real estate book "1001 Tips for Buying and Selling a Home"?

Nash: I wanted to focus on informing the consumer to understand the questions to ask the other participants in their next real estate transaction. I ask questions like, "What is dual agency?" and "Are you being served if your agent is a dual agent?" I explain the back end of the real estate business, which is important if you as the consumer want to manage the front end of it, i.e. your transaction.

Why is 1001 Tips different from other "how-to" real estate books?

Nash: Early on my publisher wanted the book real simple. Its style is numbered tips with an explanation in bullet-points. Editorially light, but not real estate light. The reader can pick it up and put it down and grasp each tip without having to read four additional paragraphs. Plus I've been through many transactions as a real estate broker and understand what the buyer or seller needs to know in their transaction before they walk out of closing or escrow. With home prices today, consumers should demand to know.

Is location, location, location a cliché in real estate today?

Nash: Location, price, risk.

Mark Nash author of 1001 Tips for Buying and Selling a Home has shared his real estate insight with CBS The Early Show, Bloomberg TV, Dow Jones MarketWatch, Universal Press Syndicate. 1001 Tips is Mr. Nash's fourth real estate book. His tips for consumers are drawn from real world experience as a broker in Chicago.

In The News:


The Massachusetts Daily Collegian

Real Estate finds tranquility, but breaks little new ground on 'In Mind'
The Massachusetts Daily Collegian
Toward the conclusion of “In Mind,” the fourth album from New Jersey's suburban jangle-pop masters Real Estate, Martin Courtney muses “Green river still runs under that same sun/I never saw the source but I know the chorus.” At once both a reference to ...


NewsFactor Network

May I Virtually Help You? Chatbots Move Into the Real Estate Sector
NewsFactor Network
"Chatbots can provide immediate responses and property information to interested buyer and seller inquiries and help tee them up for real estate agents to take over," said David Tal, CEO of Agentology, a San Diego-based tech company that provides lead ...

and more »

Buffalo News

Erie County Real Estate Transactions - The Buffalo News
Buffalo News
Following are real estate transactions over $5000 as listed in records of the Erie County clerk's office for the week ending Feb. 17, 2017. AMHERST • 3…

and more »

Politico

Schumer: 'You cannot run the presidency like you run a real estate deal'
Politico
Senate Minority Leader Chuck Schumer blasted President Donald Trump's deal-making prowess Sunday, saying he'll "get nowhere" on tax reform and health care legislation if he continues to run the presidency like "a real estate deal." During an interview ...

and more »

Sarasota Herald-Tribune

REAL ESTATE PEOPLE
Sarasota Herald-Tribune
Based on an independent survey of recent home buyers, the Five Star Award is presented to fewer than 7 percent of real estate agents and is based on customer service, integrity, market knowledge, communication, negotiation, closing preparation, post ...

and more »

Bloomberg

Real Estate Veteran Macklowe's Next Venture
Bloomberg
Harry Macklowe is one of Manhattan's most storied real estate developers. He's the man whose losses in the crisis forced him to sell the GM Building, only to rise again phoenix-like to build the tallest residential tower in the western hemisphere, 432 ...

and more »

CapitalGazette.com

Realities of Real Estate: A look at how the real estate market is doing
CapitalGazette.com
There are a variety of indices, or metrics if you will, that we follow to measure where we've been, and where we might be going, in the world of real estate. The performance of real estate locally might be different, but for the big picture, here are ...


SEC Case Against Florida Banker Over Real-Estate Loans Goes to Trial in Miami
Wall Street Journal (subscription)
One of the U.S. government's last remaining civil fraud cases related to the housing crisis goes to trial on Monday in Miami, where the Securities and Exchange Commission squares off against a longtime Florida banker accused of misleading investors ...


Charleston-area commercial real estate leases
Charleston Post Courier
Chris Cunniffe of Harbor City Real Estate Advisors represented Bloodgood Sanders LLC in leasing 1,425 square feet of office space at 242 Mathis Ferry Road. The landlord was represented by Shawn Howell of Howell & Associates. Johnny Bevon of Avison ...


The Hill

Dems question potential Kushner real estate deal with Chinese firm
The Hill
Democratic lawmakers are raising conflicts-of-interest questions over a real estate project between a Chinese firm and the family of President Trump's son-in-law and adviser Jared Kushner. Kushner Companies, the real-estate developer owned by Kushner's ...
Trump taps Kushner to lead a SWAT team to fix government with business ideasWashington Post

all 91 news articles »
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