DECEMBER 22, 2016
REAL ESTATE OUTLOOK CT’s housing market headed toward a ‘steady’ 2017 Hartford Business.com
There are several issues that will affect Greater Hartford‘s residential real estate market in 2017. Here is a breakdown of some of them: Mortgage rates: We are already experiencing modest increases in mortgages rates. If rates remain below 5 percent in 2017, unit sales and home values should be minimally impacted. Economy: Nationally, I expect a higher rate of growth in GDP provided that the Trump administration is successful, early on, in greatly reducing the ever-increasing noose of unnecessary regulations that are in effect and in implementing changes to unfavorable trade agreements. The key to economic growth is job growth. Connecticut’s economy lags behind the national growth rate and will continue to do so because of concerns over the massive deficits in the state budget and the specter of even higher taxes.
Dodd-Frank regulations: It appears that there will be modifications of some of these regulations. This action will simplify the mortgage process, especially the closing portion. More importantly, more buyers will be able to qualify for a mortgage without adversely impacting the quality of the mortgages. Millennial buyers: We have been seeing more of this population group entering the homebuying market.
This trend will continue. Home values: A combination of the concerns about Connecticut’s economy, the state budget deficit and marginally higher interest rates will hold increases in home values to 2 percent or less. If rates stay around 4.5 percent, home values may increase an additional 1.5 percent. There is still a pent-up buyer demand. Foreclosures — The number of foreclosures has been falling, both nationally and in Connecticut. That trend will continue.
Buyer’s market vs seller’s market: We have been experiencing both depending on the town or city and the condition of the home. Homes that have not been updated are taking much longer to sell, whereas, some homes that have been updated and are located in preferred locations are selling above the asking price. Urban areas remain a buyer’s market.
Rental market: I continue to believe that the number of rental units, including existing and proposed, will result in an oversupply. First, our population is declining in the state. Secondly, many of the Millennials who have been deferring from homeownership and chose to rent are now looking to purchase a home. When all the factors are weighed, I believe that the real estate market will remain steady in 2017.
Published on Jul 22, 2016
If you’ve seen any action movie in the last 20 years, you’re familiar with the negotiation scene where the FBI is called in to talk down a terrorist in order to rescue some hostages.
Today we’re talking to Chris Voss, author of the book Never Split the Difference, FBI negotiation strategy expert, and he’s that guy. In this video we cover 3 tips that you can use to negotiate more effectively and to improve your negotiating skills.
1:36 never go for a ‘win-win’
2:32 get them to ‘no’
4:01 the goai is to hear ‘that’s right’
Chris’ Book: http://amzn.to/29Rkpkf
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Never Split the Difference: Negotiating As If Your Life Depended On It – May 17, 2016
A former international hostage negotiator for the FBI offers a new, field-tested approach to high-stakes negotiations—whether in the boardroom or at home.
After a stint policing the rough streets of Kansas City, Missouri, Chris Voss joined the FBI, where his career as a hostage negotiator brought him face-to-face with a range of criminals, including bank robbers and terrorists. Reaching the pinnacle of his profession, he became the FBI’s lead international kidnapping negotiator. Never Split the Difference takes you inside the world of high-stakes negotiations and into Voss’s head, revealing the skills that helped him and his colleagues succeed where it mattered most: saving lives. In this practical guide, he shares the nine effective principles—counterintuitive tactics and strategies—you too can use to become more persuasive in both your professional and personal life.
Life is a series of negotiations you should be prepared for: buying a car, negotiating a salary, buying a home, renegotiating rent, deliberating with your partner. Taking emotional intelligence and intuition to the next level, Never Split the Difference gives you the competitive edge in any discussion.
Steve Schappert of Buyer’s Trust Real Estate will be headed to Manhattan on Monday to Meet with producer Mike Wechsler for a new reality TV Show Wechsler is putting together for the BBC called, “Real Estate Road Trip”. For the first time in America, you can have the opportunity to try out a house before you buy it. You tell us what you’re looking for in a new house, and we will match you up with three different properties. Then you get to choose to spend the night in one of the properties to see if it is a good fit for you and your family – and if you want to purchase the house.
Kathleen Chiras of Skyforinc., a national referral service, confirms she has been speaking to the casting director for about a month in an email to Schappert. Chiras says, “Good luck, Steve! Yes, I ‘ve been talking with the casting producer there for about a month. Let’s hope they pick an EBA! KC “. Tom Early President of The Buyer’s Real Estate Brokerage and President of the National Association of Exclusive Buyer Agents had this to say, “Fantastic, keep me informed. I too sent them a bio but have not heard from them. Tom “
Schappert said, “I had no idea about the show but on Friday I received a phone call from Mike Wechsler of BBC Production in Manhattan. They are doing a reality TV show about home buying. I was interviewed, over the phone by Mike, he asked for a picture so, I gave him my website for Buyers Trust. he said he would get back to me. He called back one minute later and asked me to come to Manhattan for a screen call on Monday at 11. “
“I really appreciate the opportunity regardless of whether I am chosen or not. This will be a great PR piece for Exclusive Buyer Agents everywhere! Schappert and Wechsler also talked briefly about Schappert’s new zero energy mixed use building in New Milford.”
Schappert made 2 trips to the BBC offices in Manhattan for the initial interview and then for an actual screening. Schappert was interviewed on camera by Erin Cox, and was told that he had the best stories.
The BBC did not finance the show back in 2005 and now that Schappert is reentering the industry with a great deal more experience and stories to tell, he hopes to get another chance.
In 2007 Schappert was featured on NBC’s going Green and was asked by the National Association of Exclusive Buyer Agents to teach a 3 hour class on Green Building at the national convention at the Golden Nugget in Las Vegas.
“It is your responsibility to search for an agent who will represent your interests in the real estate transaction. If you want someone to represent only your interests, consider hiring an ‘exclusive buyer’s agent,’ who will be working for you.” U.S. Department of Housing & Urban Development, “Shopping for Your Home Loan: HUD’s Settlement Cost Booklet.” Rev. Dec 2009 P.6
What Is A Real Estate Agent?
What Is An Exclusive Buyer’s Agent?
Why Use An Exclusive Buyer’s Agent?
The Case For Buyer Agents
How Do I Find An Exclusive Buyer’s Agent?
National Assocation Of Exclusive Buyer Agents
Real estate glossary
Learn About Different Types of Buyer Agents
An Exclusive Buyer’s Agent or EBA is someone who is an expert in the buy-side of a real estate transaction. Just as you would see a cardiologist for your heart or would hire an electrician to wire your home, an EBA is a specialist in the real estate industry. Most NAEBA member EBAs have years of experience and have learned to strongly negotiate on a buyer’s behalf, what to look for when viewing a property, and how to overcome obstacles that a buyer may face along the way.
Exclusive Buyer’s Agents give buyers their undivided loyalty. Most real estate agents and buyer’s agents work in traditional brokerages that take listings. Because of that, they have an inventory that they must sell. In addition, if that brokerage brings both the buyer and the seller into the transaction, they get to keep the entire commission, making the transaction more profitable. These can be strong incentives to steer a buyer to one of their own listings. It also means that their buyer loses many of the benefits of hiring a real estate agent including negotiating on his behalf as well as the agent’s ability to point out reasons why the buyer might not want to purchase that particular property. Since Exclusive Buyer’s Agents must work in a brokerage that only works with buyers and never takes listings, a buyer can rest assured that the EBA will remain on their side throughout the entire transaction, getting the buyer the lowest price and the best terms possible.