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Real Estate Today 10-15-16

Oct 16, 2016|

Opening doors for buyers and sellers with critical and credible information on the real estate market. Fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.

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This is real estate today. The number one real estate show on. The radio. Welcome to realistic today. Backed by the professional experience of real tours from across America. Where your most trusted source on the radio. For up to date realistic information. Real estate today is presented by the national association of real troops in Israel for members in your neighborhood. I again I'm Stephen gas query and today we're going high tech in a special show the Internet a realistic. From a house hunting online to Internet mortgages from Smart home tech to marketing your home on lot. The Internet has changed real estate forever. Today we'll talk to experts about how you can harness that power and wind power and also. What's coming down the line next to the Internet of realistic is coming right up but first. Let's go to the realistic today newsroom with bill Thompson's Pardo hi Stephen. If this were an ordinary year September would have marked the end of the usual busy realistic season. But I Israel for dot com points out this is no ordinary year. They say a preliminary review of September inventory and demand data signals of this is shaping up to be the hottest fall in a decade. Yes there was a slowdown from August reflecting the typical seasonal slowdown once school starts. But REALTOR.com says the median age of listings on its web site is expected to come in and around 77 days three days less than a year ago. But I homes for sale on September removing 4% more quickly than last year even as prices continue to climb. A lackluster September jobs report has refueled speculation about whether the federal raise interest rates in December. But even if there is a rate hike Quicken Loans CEO William Emerson doesn't anticipate any deeper impact in mortgages the there was last December when rates went up. Really let's look at morning grace is how does that tenure respond to what happens with the Fed raising interest rates and I think the fact typically just telegraphed so well. The normally the markets that a president's I don't see a big move. Well as a result of the study do something in December if they in fact do something. Emerson tell CNBC he thinks mortgage rates will remain low for months to come. Nearly nine out of ten US investors say they are eager to incorporate real estate into their investment strategies according to a new survey. Better Homes and Gardens real estate does its survey of 1000 investors suggest that real estate could be the hottest trend in investing. The survey also found that 80% of US investors say they believe a realistic portfolio is one of the best financial legacies they can leave for their family. And nothing succeeds like success 96%. Of those investors who say they're already into real estate. Report that it has helped them achieve financial success. There's been a chronic shortage of skilled workers in the home construction industries and housing crisis when many workers left to fund other careers. Well now the national association of homebuilders is reaching out to millennial who would like to take advantage of growing job opportunities in residential construction. October is the NAHB's careers in construction month. It's estimated that there were some 2141000. Unfilled construction sector jobs in July of this year the second highest monthly count since spring of 2007. During October and AHP is encouraging its members to help move the effort to encourage more young people who choose a career in construction. Coming up and half an hour San Francisco prices continued to defy gravity. Stephen thank you thanks bill. Just a week ago all eyes were on the house. As hurricane Matthew threaten Florida Georgia and north and South Carolina and beyond. In its aftermath and parts of north and South Carolina have been declared disaster areas by President Obama. The hurricanes blamed for dozens of deaths and in its wake. The southern states are reeling under massive flooding and loss of power and destroyed homes and businesses. Let's find out what the situation is now in South Carolina joining us now is Gordon say real Tora where the marching and company in Greenville, South Carolina. Gordon is a past president of the South Carolina association of real torch. It is NAR's regional vice president for the state of South Carolina North Carolina Tennessee and Kentucky. Gordon thanks for joining us today you will Gordon let's start with your situation I understand that you have a place. Down on the South Carolina coast. I've come down here right now where are you Gordon I am patent virtually open. Oh yeah we do show just north of Charleston right. And we go up or charged earlier and we have become barren driver arms Mormon. There's this notion that. Damage torture. Walsh and solution or Malaysia and ripple out as straight and 800. Royal global. All home. And which we did shall be back tomorrow they're written and I'll. Oh now you just say that you did have a home what happened to your place. Well the couple partners do livable. If you lower level of not little bullet loose bolt. Will Gordon years ago are covered Hurricane Hugo. When I was a TV reporter and after that they passed a law that said you had to have your house way up on stilts. If it was in a flood prone area along the coast. Whatever happened to that. That winning deploy own new construction. But we still we have houses water troop death. Big headed lower level almost like like crouched that I have. It was Cooper march forward of all wrote back from the ocean okay. And so we've had on a lower level of our common analysts earlier. Well good virtually. And so. We didn't have to go back and redo it step forward but has week started true. Do you need additional commercial auction and we had to bring it up to that that you aren't rushed for a nice. Try to get that out about it together we've got all the our people and that there are local we're both fortunate enough every insurance. Persons related that we don't look for a party to lose. Trying news this morning. Childress and Obama birth control and falcons threw water on character suggests computer and neighbors but to be rescued. They're. Accurate or aren't slowing Obama leads on insured home that we're the real issue which. Which is what people were on issue and she probably couldn't do it and sure total collegiate setup are in the mall. So we're talking about federal flood insurance which is always been a big issue for any are you had it but people like that lady you described. Apparently didn't. The presidential. Front of presidential declaration. Disaster period Berkeley and carnage and culture automotive. And so all of these periods. We're gonna be broached that were touched by her curtain well America you. Or won't fall under Brett and I don't have all the farm for a gold old corporate confidential declared disaster area. On the outlines or above the national command like it's optional. Well Gordon what about all the homes in the coastal areas of South Carolina. That might have been for sale or under contract. What happens to those buyers and sellers. Martial rule conclude lawyer that fluctuate in the US strategy and other loan closings might be that lucky. Almighty we're quarrel re inspection. In the counties included in the presidential declared disaster area. Another thirteen counties and after our. There are affected by. And followed published which includes Florida we all saw all the states that the torch Barbara acute need to be a lawyer. Of what might be had and what it is close and maybe commodities or might be totally not happy that we actually what are familiar. Well that's a really interesting point cordoned tell us why. Would they be delayed is it because. So much damage has occurred the lender wants to make sure they're actually put out money for a property that's still there. That's exactly right no. There are also just what damages which you know maybe inspections ordered and done. And got a clean bill well but it should do an inspection date it will create. They're going to be so many. Almost fit into that category. Vintage political wall to get a marine expected so it did might be just a bit like you know not our our cancellation explosions. That'll depend on the barge so. Will Gordon we are all rooting for him the best of luck can get your home fixed up into all your neighbors. In Florida Georgia South Carolina and North Carolina to. The best elect human friend thank you Gordon. Take care from a. Coming up unrealistic today. How the Internet has changed house hunting forever. By the time they meet with the teams they aren't you know exactly what they want and they party walk that hundreds if not out of the house on the. That's next on our special show the Internet. A realistic. Real estate today. Connecting you with the real estate professionals. Every week. We're back with our special show the Internet a realistic. Helping you use the power of today's online technology. To thrive in every real estate deal you do. We're going to kick it all off with one of the hottest things out there house hunting on law. It's getting better all the time and it's helping buyers and their real source. Work faster and more efficiently every day. Let's talk to an expert in online searches who can guide us through this fascinating part of real estate in 2016. Joining us now is Danielle Riley broke her owner at Better Homes and Gardens real estate prosperity. In Rochester New York. Danielle was honored as one of the top young real tours in America by realtor magazine. When she was named a member of his thirty under thirty class of 2015. Danielle is also an active member of any urge young professionals network. Danielle welcome to realistic today. Don't think you for having me we are delighted you're here first of all. Business in Rochester and not of great actually about all market that don't gone pretty. Strategy you're. You know we're in upstate New York obviously we're coming up on the winter she bend but a good old wax aryan don't let that latter. Bother her at all go Gonchar. Rushed hysteria and that didn't know that amateur code yourself. It is I don't know what it's an actual work or not but it got pretty gut. It's pretty good now Danielle most people in today's world start looking for a home online so tell us. By the time you meet our client face to face for the first time how far along are there in their home search. All they're actually pretty apparent mom. By the kind may meet with many many Artie know exactly what they want and they party looked at. Hundred and not out of the house on me or help. Barry helped. How does that help you as their realtor. It definitely saved me kind because I don't have to not to barely walk through on how open but they're not they are edit out they've RD look at. Went out and has warned that they might like. Kitchen tiles. I'm well it's definitely a kind a reference lab and for me. Odd about it and I won't let that they're pretty much ready to go they know exactly what they want what they don't want you were ready at that road and our look at how. You know Daniel I imagine a big part. Of their prep when they look on line is the photos because in the old days you were lucky to have maybe. A half dozen photos may be old darkened Fuzzy but now the photos are awesome and that helps a lot. How definitely and not even now for a barrel what's becoming not only only enough. Shop nowadays with the video technology that we chat and being more importantly staying. Being featured online with Beatty a go between high resolution followed and that the three need you know walk through that you're able to do with the video. Crop buyer almost don't even need to step and try how anymore they can they can look at average square inch of the property and Betty. Which is pretty awful. That's a really good point and you know because video. Really is becoming a huge part of on line house hunting. Now let's talk about the searches your clients do and also the searches that you do. You know once upon a time the real Torre had all the tools and the client didn't have as many because the realtor had access to the multiple listing service. What about today. Are the tools you use different from the torture clients can news. The court are not that there'll be any different. You know a buyer with all the good at what point that there are there's so many site for a consumer to go kill and with all the different like you're gonna have different search criteria. Shall I call it I not that early cab. More option. But. It's a professional I be able to figure out what options are important structure something they might not think about like putting and kept it current. Most buyers aren't gonna think oh I should probably kept my captain about pitched you know act number of dollars to make sure that I can eat and remain more comfortable let. I'll and that's where I can't tell you how. There are. We are so many options now with the Internet it gives the buyer a lot of power. But it never gonna take away from the value of having any you're having the wheelchair that's gonna be able to help figure out what criteria is important. Now do you set up custom searches for your clients using your MLS has a database. I tell us how that helps also because I mean they can be at work and all of a sudden they get a text saying that there's been a price reduction somewhere at the same moment you do. Yeah actually and it's funny he would most of my client RC no outlet come out apply. Well what's great about it when he didn't show up next how in Lima last minute they chipped actual Mel Ott and the buyers are getting email commands. Instantaneous. And that's huge for me or find an appointment or apartment the doctors aren't you writing I might not see how shall I wait. Ahmed I don't need to have my car parked at the buyers are calling me PG that pounds to email our email two and a half minutes ago when can we get it. All of which of god and batting aren't actually appear in a busy market a lot of eating. Buyer and competing locked first all you need to be on top and show chatting right your finger check coming Q instantly it is really really all about. And it's really helping them find homes up. What Daniel we have a lot more to talk to about would it be okay if we join you again in our next hour and talk about selling your home online. Okay the we're talking a little bit about Danielle Riley broker owner at Better Homes and Gardens real estate prosperity in Rochester New York. And we're going to continue our conversation with Danielle this time looking at online selling. In our next hour right here on realistic today. Coming up why are so many people talking. For the devices in their home I can't bringing control. Yeah pretty much the big selling point. We'll look good voice recognition technology. In your house coming up on our special show these Internet. A realist. But first it's time for our Smart home technology report. And today. We're looking at something every single one of us does every single day right there in our own homes. Charging power Smartphone. It's an important topic because after all so much of our lives and our real estate. Happens on our phones these days you know how phones keep getting better and better. Will part of those improvements have involved charging. Improvements that can help make that daily chore easier and faster than ever. There are two types of new charging Tareq you need to know about one is high speed charging the other is wireless charging. We'll talk about both of them starting with high speed. The company Qualcomm. Came out with what it calls quick charge a few years ago and many of the more recent phones habit. Basically it charges your phone from zero to 80%. In about a half hour that's really fast. No at that point the speed slows down to protect the battery and the rest of the charged takes about. Thirty to sixty minutes all in all about four times faster than regular charging. They are not all phones habit which you can find a list of the ones that do have that Qualcomm quick charge website. Just search quick charge. OK so quick charge is great but you still have to plug your phone in right. Well that brings us to the other new charging technology. Wireless. The Q are wireless chargers don't have any cables at all but rather their cradles or disks or little square blocks. And when you get home you just stick your phone down audit and you're done. No plugs no cables. Just put the phone down and let the charging begin. It's not as fast as quick charge but it's so easy and if you get a call. You just pick up your phone no unplugging it from the charger cable that's nice now the earliest wireless chargers were well. Terrible. Because you have this little charging block and you had to put your phone down on it just right or it wouldn't charge. The New Orleans though have a really big charging surface so it's easy. I use one called tilt with a wide for my nexus six and it is perfect oh and also it charges right through the case. So again it's very convenient. No one more thing. Most newer android phones come with wireless charging Billiton. But apple. Not yet but it may be coming so it's just a couple of ideas work to make one of the most common shores and our everyday life. A little easier and a little faster. We're just to roll is what's Marco tact is all about. Real estate today. An eighteen year with the real estate professionals. Every week. We're back. Put our special show the hitter that's a realistic. And in depth look at how the Internet has completely transform. The way we barred cells and live in our homes. It's a new world and today. We'll walk you through what you need to know to use the Internet in your home. To save money to save time and to have a lot of fun while you're doing. The Internet a realistic is straight ahead right after rejecting the Bill Thompson in the realistic today newsroom. I know I Stephen. Home prices in the Bay Area may not be going up as fast but don't expect him to come down anytime soon says the CEO bread thin. Glenn Calvin tells the San Francisco business times it's because of the unique nature of the market. We always say this ever at Cisco defies the laws of physics that and other markets what comes up. Does come down to hear it just seems to flatten out so you'll see individual houses half price reductions of course that it just doesn't seem that. There's much prospect of an actual price decline. The business times reports that San Francisco mayor Ed Lee has made housing supply a Central Africa of his administration. Thousands are realistic students across Texas will soon have access to a new online course in artificial intelligence. To learn how an emerging technology can take their multitasking to a whole new level. The Houston business journal reports that Houston real to run Sassoon is partnering with champions school of real estate and the makers of software called Skyler 360. Which promises to let realtors respond to potential buyers in a timely way even when personal contact is impossible. Skyler 360 allows realtors to automatically respond via text or email akin to what Syrian court told a do. The six to eight hour course and artificial intelligence will be on the on sometime in the first quarter of 2017. The owners of homes for sale in Manhattan hope you're a fan of the hit Broadway Show Hamilton because that may help them such a premium price. The house at seventeen commerce trade in the west village sits on property once owned by Aaron Burr. V Aaron Burr who killed Alexander Hamilton and Abdul. The New York Post reports the homes on the market for five point seven million dollars on one point three million more than it sold for those three years ago. Corcoran broker Bernie Leventhal told the post quote we are definitely looking at the Hamilton angle. Coming up and half an hour while your mortgage lender may be digging deeper into your credit history. Stephen back to you thanks bill. As we reported here on realistic today a new player has entered the Smart home technology. You know big. Way because in less than one month Google home will hit the shelves. It's a virtual assistant like the Amazon echo which you can use to control all the Smart home Turkey in your house with your voice. It's not available yet but our next guest has been examining all the back and looking very closely at what Google home can do. And he has the inside scoop. Joining us now is Andrew Gephardt associate editor with CNET. Andrew covers all sorts of Smart home technology news from Smart appliances to Smart home hubs and now to the new Google home. Andrew welcome to realistic today. So Andrew what do you think about Google home. It looks great. At the event in San Francisco where they launched it they were clearly going far and wide to show how exactly it's gonna be better than ever Burnett Coke and it had a couple of key advantages like the conversational. That's been the ability Q thank upload multiple audio devices in your home. A lot of these planes could make you Google home BR more friendly. So Andrew from a homeowner's perspective let's talk about what a device like Google home can mean. In our houses every day and let's start with the temperature. Yes so go home and get out of sync up with sub the next learning permit back which should be it's a Smart thermostat nets who is actually owned by Google. And so if you have a nest thermostat. You can tell Google Harlem. And the temperature down 271 degrees and that'll do it or you. Without you having to get up and and go control the thermostat. Okay how about the lighting in my home if I have a Smart lighting system. I'm bear again you're gonna have one option. Which is Philip cute so cool Obama had spent credit gonna work with told you so. If you got those color changing bulbs and a coach you are to be able to say. OK we Google changed my kitchen lights to obliterate. Okay all right so for people who have never used of virtual assistant likeness. The me ask you big question. What can I do with Google home. But it can't do without it. I hands free control. Is pretty much the big selling point armed so. If you're if you're not invested in the Smart home it's gonna be our hands free speaker. And I hands free wait a look stop offshore. Add up your calendar so you know grew warm gonna have the full Google's search engine built and. So you Karen you can you can you do it Adams. Object of central Harlem for music. And Forbes ranked timers anchoring your calendar giving directions. On if you're a Smart home. It is again a hands free controls. But a really cool thing about Google on the Amazon echo also does. Is it took central point of control. For your whole family. Would Google harm and Amazon actor you have that 1 central spot. Where anybody within shouting range can do what they want your light your thermostat. And so that's respectable lot easier for. Your family. QB ever engaged with the Smart home and you are. Can you have like three or four do you surrender house and they won't get confused about each other. Yeah that's another feature that world we'd like to cast. But that is partly that Google's product is is that it you have multiple Holmes sat out. Only the one that close to you. Will respond so basically there's an outward from Belkin admitted it multiple homes. In a single location. But one that cures you bashed will talk back seat. So Andrew Amazon's echo came out first. How do you think Google home will compare when it hits the marketplace. Are sold right now I'm guessing that Google home can have peaked. Amazon act go. In a couple of words and we'd been a couple of ways so it looks like it's going to be better. At the conversational. It's been and then the hole out audio Decker couldn't have anything like that so Google should be immigrant echoed there are. Well right now. Echo has weighing more Smart home. Compatibility. It's just compatible with a whole bunch of different platforms so I'm excited about Google com. And needs you know we we really loved the Amazon echoed. In the CNET Smart home you're getting tacky and just bombed. The most exciting thing about the globe. Is it how to create competition. For the market and we're just hoping it really helps Smart old technology blocked. Excellent point Andrew again thanks for joining us today. We're delighted you're here Andrew Gephardt associate editor with CNET. On the upcoming debut of the Google home device. Coming up unrealistic today the millennial generation their homes. And their Internet on my site as a mother has because the mind. Careers and Nigeria city maybe without Wi-Fi in my house I. Don't think they've given him yeah that's next on our special show. A realistic. It's real estate today. 100%. Real estate 100% of its. To our special show. The real estate overlooking it everything you need to know about how real estate and the Internet go hand in hand and now. We're going to take a look at the biggest potential group of home buyers ever in the United States the millennial generation who tell us. Our house is not our home. Without Wi-Fi. Our national correspondent meg McCloskey joins us now with a unique dynamic between young people their homes and beat Internet. Hi meg. Hi Stephen. I think you probably know about millennium. And our technology and any minute. We pretty much have to be online at all times. Relying revolve around the Internet which is why it's all that much more important for us to have connected home. I think it's essential it's also interconnect at this point that without Wi-Fi I think she would feel very cut off. I mean I don't know I would live about home Wi-Fi it. That's an old hat she's a triple screener. Saw the tablet and computer offense all of the same time. According to Pew Research Center virtually the entire millennial generation is online and on way 99%. Millions of young people dependent on connectivity. Why site is a must haves because my career and my curiosity. Of the without life I am my house I'd. Don't think it get anything done. Why try our good friend and a defining characteristic of homeland. When it comes down to it home is where the wild eyes. According to my good friend tallying there's simply no way to exist without it. I his lifetime mostly for my career because I have a lot of freelance clients that are really there really dependent on an access so without me being able to have. High speed Internet lets you send files to my clients I wouldn't have a job and I think. And she's not alone using Internet all the time I like having access to information when I want to see it when you need to see it. That's pat a 22 year old from Virginia who I caught up with rain after branching with her majesty's. That's been. As an avid social media user and a big news junkie the whole Internet things important to her Donna anti government. Having that access to things that I can check. Multiple sources when something is breaking. IA can talk to people who live far away especially now that a graduate school my friends are everywhere it's very important for me to use day he connected just across a wide range of mediums. Career communication. Curiosity. Lot of reasons why we gotta have Wi-Fi where we live but would we have to get by without. We don't woman who had my younger sisters. I just moved to the South Carolina area in my employer is providing housing inform me which is wonderful. Except for the fact that they don't have any cable or Internet how are you are Manning. If you ask me a few months ago I have a very different answer I think I might go insane. Because I can't just binge on Netflix. Back in the realistic big studios that would make McCloskey magnate. Do any of your millennial friends ever just want to shock the Internet off. You know it's funny for a generation that is so connected. A lot of us still have that longing to disconnect. To go offline even if just temporarily. Or are teaming up fact is and that is an integral part of our lack whether we're at home or anymore. And that's not changing any time and. Meg is a millennial start buying homes all across America you've got to think. Internet in every one. Is a top priority he had really ends make thanks for that report will hear more from you in the coming weeks can't they think Stephen. Coming up front realistic today every home for sale. Right there in the palm of your. That's next on our special show the Internet realistic. If you look was asked them in the state joined the conversation. Buying real estate today's radio on FaceBook and can't wait to hear them. That's really hate to hate radio. This is a real estate today. Location. Location. And information. And we're back with her special show the Internet a realistic. All about how you can make your real estate transactions. Have been faster and easier and better. By using the power of today's online tools. We're going to wrap up this hour of the show with a look at one of those tools and it might be one of the most powerful tools ever in the entire real estate industry. And it's right there in the palm of your head and I'm talking about the real true dot com apps for your Smartphone. If you haven't seen them in a while you might wanna check them out because in the past few years they've gotten a whole lot better and you won't believe the things they can do. Okay today's apps have three main components first the REALTOR.com. Real estate app. Next it's rentals app and the newest entry the door swipes out. Let's start with a realistic depth because it's probably the one you already know about. The REALTOR.com app has a list of just about every home for sale in the United States. It gets its information from 800 multiple listing service is across America and you don't have to worry about getting all excited about a house that's. Already goal. Because it's information is updated every fifteen minutes every day of the year. The app itself allows you to enter your search criteria you know price range location. Number of bedrooms and bathrooms and any special features you might want. But then the fun begins because as you're driving around you can draw a circle on the map right there on the screen of your Smartphone. And the apple show you every house in that circle that fits your criteria. Or how about this you in the off in a friend says you really should check out the ravenwood area. So you bring it up on your map and there you go every home that fits your criteria. Is right there. Location photos videos. You name it. Oh and you can also get school in Borough get notified if there's a price reduction and you can even share all of that with your friends in Fam so. It sure beats sitting there were the Sunday paper circling little classified ads with hardly any information. No photos. And certainly no videos. The real estate app is available on everything iPhone iPad android and windows. Okay the next part the REALTOR.com. Rental have the same thing here no need to search in the paper or use online searches that might. Or might not be legit. The REALTOR.com rental app is incredibly powerful it works just like the realist and helping you create your own personal criteria. And then search right there on the map photos videos everything. And if you find depletion like just tap the screen and called the rental manager. That's nice the rental app is on iPhone iPad and android. Now the newest app is called the door steps swipe. This is brand new and it's very cool this app works kind of like a Smart thermostat because as you enter your criteria and you search for homes. It learns what you like. It's kind of like the ultimate home cataloged where you can see home jewel love right in your neighborhood. Or anywhere across the country. And speaking of that it has this really fun feature called surprise me. Tap that and it'll find homes anywhere in America that exactly fit your criteria whom she might just love. And also along the way it helps you learn more about the home buying process. Doorsteps white is so far only available on iPhone. But android will be along soon. Know obviously when you're looking for a home you'll eventually have to walk in the place and seen in person. But all of this on line power right there in the Paula your hand. Can help you narrow down the possibilities. Quickly and efficiently without missing any thing or forgetting a place that you wanted to see. It helps create the perfect list of candidates. So that when you when your real toward go to look at homes you'll be way ahead of the game. Thanks to this amazing new era of the Internet a realistic. If you'd like to hear more realistic today's special show the Internet a real estate. Either stay tuned for joining us our life and our ET radio dot com. And for all of us here at realistic today I think we're listen. If you're realtor you can the see entire real estate today show on your web site. The best real estate sale on the Radio One 100% free to any arm them. Just go to RE ET radio dot com and click for real. This isn't real estate today. The number one real estate show on the radio. Welcome back to real estate today. Backed by the professional experience of real tours from across America where your most trusted source on the radio for up to date realistic information. Real estate today is presented by the national association of real tools and Israel's remembers in your neighborhood. I again I'm Stephen gas query and we have one great show for you today the Internet but realistic. A quick start guide to all the ways you can use the power of the Internet to make your real estate better. From finding a house faster to selling your house faster too running your house from your Smartphone. It's a brand new world. And we'll show you how to do it all the Internet are realistic it's coming right up. But first let's go to the real estate today newsroom with Bill Thompson Pardo our students. America's mortgage lenders becoming too confident and. Venturing too far into sub prime mortgages again. No don't worry says housing and urban development secretary to a young Castro. He talked to Fox Business. We wanna strike the strong balance you'll learn the lessons of the past keep the regulations. In place that have been put in place over the last few years to ensure that we don't slide back but at the same time offer good strong opportunity for homeownership. To folks who are responsible and ready to purchase. Castro's those measures such as FHA's credit score floor are aimed at achieving that balance. And ensuring that homeownership is available to everyone who is ready and responsible. Mortgage applicant should be aware many lenders are now seeing much more detailed credit data about shoe. The New York Times reports that Fannie Mae has revised its risk assessment software. Lenders will now see an expanded version of your credit report including such details as. Whether you pay off your credit card bill every month or only make the minimum payment. Fannie Mae is Mindy Armstrong tells the times the new underwriting process will help lenders can more nuanced understanding of how a borrower handles debt. If the early prognostications are accurate 27 teams should be a very good year for real estate. Recent forecast from the National Association of Realtors the Mortgage Bankers Association Freddie Mac Fannie Mae and others all paint just sunny picture. In fact and they are witch project six million homes sales next year's among the more conservative forecasts. Fannie Mae and Freddie Mac are both predicting sales of six point two million the Mortgage Bankers Association is forecasting six point five million. As America's single family homes get bigger they're also getting more bathrooms. According to census data analyzed by the national association of homebuilders the sheriff homes with only one or two full bathrooms has been shrinking ever since 2000. While Teixeira homes with 34. Or even more full Babs has been growing. Coming up and half an hour how legal marijuana. Could mean a new high for some home prices. Stephen thank you thanks bill. We're continuing our look now at real estate markets around the nation and how they're doing as we approach the end of 2016. There are so many questions out there that can affect what you're buying or selling. And what are the biggest news how can people buy homes in markets where there aren't enough houses for sale. Let's look at that now with someone who watches not only her own market but markets nationwide. Joining us now is pat Brett abode Combs broker with Coldwell Banker AJ edge Schmidt realty in Grand Rapids, Michigan. And the 2007. President of the national association of real tours. Pat's a graduate of the realtor institute in accredited buyers representative in a certified residential specialist pat welcome to real estate today. Thank you I'm really pleased to be here. We're delighted you're here so pat Summers finally overweight if there were in the final stretch of 2016. How's business in Grand Rapids. Well here in grand rapid business is great especially after eight. Quiet summer butter business have been booming pet September. We're putting a lot of homes on the market and buyers are showing up in drove to our open outlook all. Like in real estate here in Grand Rapids. I'm glad to hear it so you just said something really interesting and that is. A lot of people are putting their homes on the market right now in October. Yes very interesting. Typically appear about people putting their homes on the market in the spring. But I think that there's a lot of things motivating people today get interest rates that just a lot a conglomeration of Central America dirty diaper right now just gut. That is so interest during so Patti is that enough to cut into the inventory shortages. That we've talked about in your market. Well art inventory shortages that are a little bizarre because that just beat Pam and Craig arranged. The lower the price the fewer homes that are available. As the price goes up so that the inventory. But I don't think that the buyer parent as much of that can immediately where the beginning of the year. That sounds good may be were approaching a more balanced market. Now pat as the former NAR president of course you're in touch with real tours all across America all the time. What's happening with inventory in the big picture. Around the country. Well according to a Lauren Q and are at air chief economist inventory has declined year over year for fifteen straight month. Properties in August typically sold eleven days. Quicker than in August of 2015. And after increasing five point 1% last month. Existing home prices have risen year over year or 54 straight months. Interest thing. Now of course for buyers in every market across the country the one constant. Is in this market they can take advantage of low low interest rates. So they can find a home buyer and they can either get more house for their money where they can scale down on the house and have a lower monthly mortgage payment. House mortgage money flowing in your market. Well actually getting better it was pretty tight earlier. But I would have to say that the couldn't resist that many of the dollars to a putting their house without a market actually have higher interest rates. And so if they shall now and I. Even know prices have gone up on the buying and they could actually lower their monthly payment because they're going to be paying left in him. Another thing is that either way you look at that whether you're a runner up by higher. You're paying down someone mortgage. Hook your buyer actually buying a house you're working and paying down your own mark edged in increasing your networks. If you're renting you're paying down your late AMBER Alert mortgage increasing your mayor network. Phillips really trying Chris some of these renters to convert to buy your wrists in that the main thing marketplace could you don't wanna wait and have interest rates up and then they'll have to pay the higher our. You know pat that is a really. Solid perspective because boy these interest rates are low now but who knows. How long a mile. Now pat what's your advice to all the buyers out there trying to find a great house in today's market. My advice is use the realtor this compare old on the home buying and home selling pressure. Shall enjoy the right by having somebody working. Good advice pat now how about the other side of the settlement table the dollars. What advice would you give them if they wanted to take advantage of this incredible. Seller's market. China realtor that no New York. Specific neighborhood an area that's an expert in etched in their the people who are going to be able to look give you real life. Information on what values are. Last question pat if this is in fact a seller's market. And I wanna sell my house can I just talked to a realtor signed a listing agreement put up for sale sign out front. And do no work at all fixing it up because I draw the buyers are Carolina. Well I think that you have to look at it through the eyes of a buyer cleaning me no purple really good. Painting making sure their act cracks in some instances. I even suggesting that they do a pre listing I inspection so that people will make you an off. Pat thanks again I really appreciated and and I'm I just hope this is a great year for you out there in Grand Rapids. Well thank you. Have a great day NDP I backed. That's pat Brennan broke Combs broker with Coldwell Banker AJS. Schmidt realty in Grand Rapids, Michigan. And that 2007. President of the national association. Of real tours. Coming up unrealistic today selling your house. On line here actually gonna find them right buyers that every player that fire down. That's next on our special show on the Internet. A realistic. Real estate today. Connecting you with real estate professionals. Every week. Back again where there are special show the Internet of realistic. In right now a special look at selling your home online. In her first are we spoke with an expert about how Sony on line. And now we're moving to the other side of the transaction and talking on line marketing. For that we're continuing our conversation with Danielle Riley broker owner of Better Homes and Gardens real estate prosperity. In Rochester New York. Danielle was a member of real true magazine's prestigious thirty under thirty class of 2015. And is an active member of any ours young professionals network good to have you back Daniel L problem. Well Daniel tell me if I am selling my house in 2016. How big a role does the Internet play. Oh well I would say it beauty and not almost. Everything cop now a days. You know I hear a lot of the agents say that directly mallet completely capped a week which I don't agree wet. Com but we're definitely seeing a shift in the industry now at age if your house they're not online if not. At what people are going to walk. And it's not just a matter of putting your how hosts. In a little box on why you have to really blow it out and make that house looked as good as it possibly can't. How do you do that India. Oh well you have a number of options first of all my advice to always picture how on every angle web site that you possibly can. Everywhere you can blaster how online it only helped. I'll outlawed. Aunt and you don't think that a buyer would necessarily go to FaceBook goal in a grant to what curt how a bike. But actually they each have someone might be thinking about buying a house at any conflict. Out on their FaceBook news feed on you Mike Kim at the right time and you like you're trying your buyer. All crash you know not only putting it everywhere but also. You know making sure that you have. Good pictures all the wanna kick pictured with a professional camera don't ever use your column they'll never come out as good. You were just talking about social media. And yet it's not just sort of straight tell us about that. A lot of people are focusing more now on video station and you're actually able can't come to comment professionally shoot your how. And called it and the video online and buyers there are able to walk through. Sitting at their computer screen watching video and they're able to look at average square inch at your house. How would you future about because they're able to get a feel or they're able what the layout and you know it variable he each held that you cannot apparently showing a picture which is huge. Know you gave some good advice a few minutes ago don't take photos of your house with your Smartphone. I bet the same advice applies to video do it professionally right now with your phone. Exactly yet you only one hire professional for a photo and video. I'll try a couple of reasons obviously the camera is always going to be batter with a professional camera by ignoring not. You know you're real Terry you're not. A professional photographer professional video locker Turkish you don't know exactly what biting into write what you know. Angle their right and that's why you wanna get a professional in their might cost you a little bit more money each but I guarantee that. And that little bit of extra money you're gonna have more people looking at. How to buy online. And if the pictures and video they're coming out and looked knife more people are gonna wanna come he backed out because that it's Schilling tell well Caribbean. Piracy. Now here's a really important point that I always wanted to know the answer to it. Say that you were my real tort and I mean your client and I'm selling my house. Should you put the house on social media ended should I put my house on social media or just one or the other or both. I'll I think they all. You know. Yeah we might not have as a client you might not have that potential buyer here trying to lecture. But you might know somebody that has that potential buyer guide and I happen very frequently where someone will post a house. I'll that they own that upper L they pulled that out social media. It one of their country and their coworker search mean he's a money went to high school like that they haven't talked to and when your thirty year. Know somebody that in a market in the market for that specific type of how. What the first social media are you'd put it off. Also media I wanna put it on. YouTube is actually the most widely used search engine bush. Behind Google op and although you're not and that apparently think that irons are gonna go to YouTube wasn't gonna do it gonna help. Sure sure how to stop when people are searching our own church couched it kind of crushed that whipping up on the Google which. I'll which which which and then you'd cheer I would say they are cash. A bucket definitely. The most widely used social media by barbarians. Armed you're going to be able to target all different ages. On demographic actually all people won't use the that are in high school. He hadn't even grandparent. Child should definitely check a lot more people on FaceBook and lo and the other social media right. I think back to the old days and you've got to think that that old forced sale sign out front maybe it's days are numbered. I now you know I I agree with that statement I really thought I think such. Do matter and you never know who's going to be driving Biden can be the first to tell why one might be gone a bit of the only average. Maybe they want and will course script you know me man lurched you know even at that the press and she never know who's gonna keep that for now my age. You know my way of thinking well marketing ever tightening touched it you how are everywhere you Chad I am I put a person outside in the right Jaric. And you know I catch your local newspaper arched you black everywhere you're covering all your. So you're actually got kind of right buyer if they ever Wear the buyers are. We'll Danielle I'd really appreciate you talking to us today about. The rule of the Internet in buying houses and selling houses as well thanks for being here. It you're very welcome Danielle Riley broker owner at Better Homes and Gardens real estate prosperity. In Rochester New York. Coming up front realistic today. Who is Alexa in why is everyone talking to work I referred questions to a lecture he edited it and I thank. That's coming up on our special show the Internet a realistic. But first a special addition of our Smart home technology report. And right now a new way to use today's Smart gorloks. Recently we spoke with Peja are shall under god with August home. You might note that August makes Bluetooth enabled connected dead bolts. Which you can lock or unlock with your Smartphone. But August is found that the new blocking technology is not only being used by homeowners. But also by landlords. Who can control access to their rental properties better than ever before. I talk to property managers all the time and that you know that would be the example that comes up as you've rented to a college student who showed that the two and a night and have lost their keys are misplaced that he's. That's happened gets why you can you can wake up you can. Get the audit staff you can unlock the door and I usually chuckle then you can send them a fifty dollar. Wake up see the next morning. So assuming that might tenant. Is in an apartment with an August Smart lock on the door I can unlock it with the app on my phone. Tim day also unlock it with the app on their phone that's correct well that could mean a lot to landlords all over America this is very interest. That is that a great seer I mean August August Smart look at applicable not just to consumers. To property managers to board who are living in apartments. And we've recently announced a partnership with Coldwell Banker where we have real estate agents who are. Equipping homes for sale would Smart on technology and effectively. Shutting the home of the Smartphone. Aiken also enable them to have these 24/7 and if you want a seat on today here's access and guess what I can't make it but let me talk to you when I get a chance afterwards and let's discuss if you would you like the home and out. So very. Could mean big changes in a positive way for landlords. And real estate agents all across America. That's correct and not only do consumers find value in these real estate professionals. Agents property managers will would be able to focus on what they do best. Without the hassle of running late to an apartment or to a home to actually shut it. Entrusting we'll take Josh thanks for joining us today on this special edition of our Smart home technology report thank you very much for having me. To Josh undercut with August home. And you know its interest. How is soon as a new technology enters the field of real estate it's never static it doesn't just stay there. Many people look at it try to figure out how they can use it in other ways the locks are just one example that's we'll have more. On our special show with the Internet it's realistic straight ahead. Right here on realistic today. This is really easy today. All real estate all the time. And we're back again whether a special show the Internet a realistic. All about what you need to know to make the speed and the power of the Internet work for you and your realistic plans. From Smart thermostats to Smart house hunting. Will go from a to Z to make sure you know every click every link in every hour you need to be an online real estate pro. The Internet are realistic continues right after we check in with Bill Thompson in a realistic today newsroom cargo. Stephen. Just as there are indications that the Bay Area market may finally be cooling. Could there and Albion new market factor that would drive prices back up to new highs. California voters will decide next month whether to legalize recreational marijuana you give thanks A yes new study says home prices could soar. The University of Mississippi study found that Colorado cities and counties and legalize retail pot sales in 2012. Saw average home appreciation of 8% within two years. Study co author Chang Chang tells the San Francisco chronicle. The researching just the demand for Bay Area homes could soar if legal marijuana is that into the equation. The typical four bedroom two bath home and lost. In Texas now sells for over 4141000. Dollars and that according to a recent Coldwell Banker analysis makes Austin's homes the most expensive in Texas. Real projects and Randall with three Max elite in Georgetown Texas tells Austin's fox seven TV there's a reason why homes there are so pricey. One thing that thing that's driving the prices for homes is definitely companies like Google and apple. Having companies like to have finally in Austin that is helping stabilize the economy as a whole but now it's taken off because there's just so much of a. Randall says the median home price and Austin is 289000. That's up 9% from last year Stephen back to you. Thanks bill. As we reported here and realistic today. Smart home technology was in the news last week with the announcement of Google home. That's right Google's own version of a voice activated device designed to control all the text in your home. And of course also designed to compete head on with Amazon's echo. Which has taken the world of Smart home technology by storm. So as a homeowner what does this new technology mean to you and how can you use it in your home to make life better. Let's ask a pro who's had the Amazon echo up and running in both of his homes for more than a year. Joining us now is build up real chore with century 21 advantage gold in Southampton Pennsylvania. Bill is that 2017. Chair of any r.'s data strategies committee. He's also a member of the greater Philadelphia association of real tours hall of fame he was honored by the Pennsylvania association of real tours. With their lifetime achievement award. And in fact bill wrote the NAR course called. Bill welcome to realistic today. It. So bill you've had the Amazon echo for more than a year. Tell us how is your home and your life different now compared to before when you started using the car. Probably the biggest difference is that when I'm home alone. I have this solid product that could help me. Anything that occurred to me at the moment or play music for me or manage. Some of the pieces that might Smart at all that I would have managed with my own before it is much simpler. Two to talk to a device. They did it take you talk about white caveat. And then make whatever changes you want and that's really the the biggest change in the interface. So you can't change the temperature turn out the light. Close your garage door. It'll play music and put you to sleep it'll ring alarm to wake you up it'll remind you that things acting as a timer giving you news or reading a book deal. It becomes so natural. To talk to the divide. That I was on the phone with a friend that might one day and they asked me a question and I. Referred the question to a election that she had to visit and I thanked her. My grandmother thought that the ginger really thank your Amazon had to go I figure our I was raised to be very polite. Some contact or get it to delight. That is amazing now bill Google has been a live till bit on the slow side they're just now. Getting ready to unveil. Google home now you've had the Amazon echo for more than a year now. What do you think of the new Google entry. Well I'll probably go on and not too long to get their ability light. I like making comparisons between different technology. I think for both Google. And Amazon. It in the back gathering. Information about how consumers. I think it also. Could sell products. Our secure trivia question of what you like just some people carry the android and some people. Carry the iPhone. Here's my big question. Do today's homeowners really need to voice recognition devices in their home I mean it is so much fun. But is it really. Is sensual. Well look I I wouldn't say it's essential. But frankly neither central either central air conditioning but I really love having them all. Yup it's a matter of comfort level. And a matter of convenience convene this template interface. You can possibly have voice command really is the interface. For these Smart devices and I think it's incredibly and so while it's not essential I think it's sort of a great thing to have. Will build. Thank you so much for joining us and telling us about one year. With the Amazon echo it. Bill Dublin realtor with century 21 advantage goal in Southampton Pennsylvania. A member of the greater Philadelphia association of real tours hall of fame and a recipient of the Pennsylvania association of real tours lifetime achievement award. Coming up unrealistic today. The bottom line mortgage is it really happening we added up all the racket mortgages editors quotes from the beginning of the year authority over five billion dollars. That's next on our special show the internet's. A realistic. This is real estate today. Because you're home might beat. Your biggest investment. And we're back. Would our special show the Internet a realistic. It's all about what disconnect Smart online world means to you and your realistic plants. And now one of the biggest changes that the Internet has brought to reinstate the rise. Of the on line mortgage. Not too long ago there was a lot of face to face required if you wanted a home loan. Now are sure the preliminary call to get that pre qualification. Dot could be over the final but in most cases. At some point you'd have to end up sitting in the mortgage lenders office applying for their refinance or the purchase money. Well that's now changing and changing fast because mortgages are going on line. Joining us now is Regis heady heiress with Quicken Loans one of the biggest mortgage companies in America. And the leader in online mortgages Regis is a product lead for rocket mortgage Regis welcomed to realistic today. To be here we're glad you're here now Regis tell us. Cannot really apply for a full blown home loan or a full refinance. Just by going online. Absolutely you can do that would bracket mortgage today and we see many many Americans during that. You can go find creative accounting and basically go through really fast process find options. For your situation and click a button. And get approved. Is that right now how exactly does it work Regis. So what happens as a client goes through Iraq and mortgage experience and then it's a very dynamic experience it changes because what it trying to do is deliver. Customized solution for every client base and are unique financial situation. And acute that it analyzes the client situation they're in combat Adam that. Credit and that delivers options and we've what we've done is we've taken that made it a lot easier by. Providing clients schools so they can import your income. They can import their bank information. So that the problem can happen at a better than it. So was this process all done by computer algorithms. I mean I imagine there's not a live person sitting on the other end of the screen. Looking at what your typing in. No that's correct to basically that the little cut bracket mortgaged. It's built so that there are no assumptions you don't you go online today you see a lot of interest rates earlier teaser rates that are customized cute. Every client he deep financial situation and without Iraqi mortgaged that literally analyzes speech. Income and ask that information in the credit score history and I compared that your mortgage guidelines. Because he's the same types of loans that you would get the cure to talk to mortgage banker to your conventional loan debt HA BA. And it recommends options back that a client can then customize. Depending on what their goals and. I really what they get to do after they click that button and get approved it vacant. Download their approval letter and they're making offers our armed. And we talking client. You know the process Stephen is completely accelerated the pace at which a client can do this now. Really is anytime anywhere we've seen people doing that literally while they're standing out of their interest at. Are you kidding. That is amazing hey let's talk about that for a second Regis okay. Before rocket mortgage exist it if you were to look at the standard way of applying for a mortgage. Or the pre approval for that mortgage. Compared to rocket mortgage and what's the difference in time. Enter to allocate a so it racquet mortgage reaching clients go through and as little as eight minutes. But really it's about the client doing it's fast or slow. Doing it much online aren't our planet and they wanted to control it's really in the client and they can do that on their mobile phone if they'd like. Anytime anywhere note. No longer is there an unclear process that takes a lot of time and. People have to take time out of their busy lives to get fruit but it didn't happen anymore they can literally just go online to do it right now. Now how about the closing certainly that's not on line also correct. So the way yet so basically what the client is in the mortgage process they go through all the name under rating. That they normally would now we've got a lot to make that process faster we can dramatic improvement in reducing the time it take to get to closing. By doing things like importing vetting cabinet that data. But then there's still going to be denied induction into the end like we normally would in a traditional closing. But there's a lot of flexibility out and win and where we can do that for example you know necessary financing Luke will go to wherever the client may need a. I cities so Regis final question. Is this just a one off or do you think this is the beginning. Of a complete revolution in mortgages in which the majority of home loans are applied for on line. Speed and I believe the revolution has begun working it already we have tens of thousands of Americans who have become new homeowners. And refinance their mortgage to improve their financial life using rocket mortgage already. And you know we added up all the racket mortgages that have been closed since the beginning of the year it's already over five billion dollars. That is huge. Were re just thank you so much for joining us today and talking about rocket mortgage. Beer. Regis heady heiress with Quicken Loans. Coming up on realistic today that was Ben this is now. That's next on our special show the Internet but realistic. Real estate today because you. I love real estate. And we are back with our special show the Internet a realistic. All about the amazing changes we see every day in the online world of buying selling and owning homes. And right now I'd like to talk to younger homebuyers and younger real Turks who grew up with the Internet I'd like to tell you how are used to be. Before the Internet existed. Now of course if you're older you'll know exactly what I'm talking about. OK I started out back in 1977. Working in a commercial real estate firm in Baltimore. We find apartment buildings for our clients to bar. And then we'd fill them up put tenant manage the places and send our clients their net profit every month. And all the information about all of that was either on paper or in our heads. No Internet node database. Just people working with people. Now my broker was an amazing woman she worked hard for clients every single day filling vacancies getting repairs painting in flooring done. And she also worked hard for her hundreds of renter. Leases keys security deposit and more. And again there was no Internet so we placed ads in the newspaper and people called us to make an appointment to see the places. Even for the very first time because. There were no on line photos. No online applications. No real toward our column. We had to physically walk from place to place with a pocket full of keys coincide. And look at every one. Every single place. If we didn't have what our client wanted we have a caller competitors to see if they had something. Because there was no multiple listing service just people dealing with people. It was real estate at its most basic. Meeting face to face with clients showing properties to buyers and renters. And calling our clients by phone when we had something to report. Oh in every contract. Every lead and every signature. It had to be done in person we didn't even have fax machines back there. No email no texting no online searches no online photos. None of it but we did have something really great back that. And missile sound familiar even in today's online world. Realtors. Cared. And we worked hard for Clark worked hard to build a business and worked hard to make a living. With the tools we had because there's no other way. Those tools included a positive attitude end NAR's code of ethics. Which showed us how to do every deal fairly and honestly wave before state laws were enacted based upon that's right. NAR's code of ethics. So that was then and this is now. Israel a state better as we head into 2017. But it was forty years ago or it's absolutely. Much better. Online searches like juicy hundreds of properties without having to drive to each one to take a look. That alone saves a huge amount of time. If you like a place you can email digital photos to your friends and family without having to drag him over there. Contracts can be emailed and signed electronically. Without having to come into the realist in office. Everything is faster more comprehensive. And more efficient. But even so I'm really glad to leave it as the entire world of real estate changed with digital online and marked. The basics never went away. They're still here. Because real tours still care and it always will they'll always work hard for their clients. And they still follow the code of ethics and do every deal the right way. That personal touch. Is now equipped with digital tools. It all reminds me of an interview we did with the late great real toward heavy holiday from Dallas. As she approached her 100. Birthday we talked to work about a lifetime of realistic. And she told us it was always about serving her clients to the best of her abilities. As we wrapped up and said good bye 98 year old Eddie how they said oh wait there's just one more thing. Don't forget to like me on FaceBook. Coming up next week on realistic today think like a home inspector. As sweaters getting closer and closer we don't have national experts on the show. Telling you how to batten down the hatches and remember you can always listen online its part ET radio dot com. And from all of us here at realistic today thank you for listening. If you're real turn. You can put the entire realists say today's show on your web site. The best real estate show on the Radio One 100% free to and they are members just go to RET radio dot com. And click for realtors.