Real Estate

Apache is functioning normally

Many people claim real estate investors cause homelessness by owning rentals and charging rent, however, they can play a significant role in preventing homelessness by implementing various strategies that promote affordable housing, stability, and supportive services. Real estate investors also provide rentals which are the next step from homelessness as most people in a dire housing situation are not able to buy for various reasons. Here are some key ways real estate investors can contribute to preventing homelessness:

Did landlords cause real estate prices to increase?

There is a growing trend stating that landlords are not needed and the world would be better off without them. This stance is backed up by many statements that tend to be grossly exaggerated or simply false. I am a landlord and of course, I am biased but I have been an investor, agent, author, and influencer in the real estate space for 20 years. I have seen what happens in the real world and know a thing or two about real estate. Many of the opinions about landlords and real estate investors stem from Facebook pages, politicians, or even educators who have zero experience with real estate.

Landlords do not push up prices because they are buying all the houses. In fact, the owner-occupied rate has increased from 62 percent to 66 percent from 2016 to 2023. There are 11 million more owner-occupied units in 2023 compared to 2016 and about the same amount of rental units. The truth is real estate investors have been selling much more than buying.

Rents have been rising because there are fewer rentals available due to landlords selling. That is simple supply and demand. Some people claim landlords buying all the houses is causing rents to go up, but that is the opposite of what happens in the economy when supply increases. The real cause of prices going up is the cost to build, replacement costs, and development costs.

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How are landlords needed?

Some hypothesize that if landlords were eliminated (yes some advocate violence) housing would be more affordable and more people could buy. The problem with this theory is that not everyone can or wants to buy. Some people have bad credit or no job history which prevents them from getting a loan. Some want to travel or simply don’t want to buy a house. The theory that all landlords should disappear ignores these people and just assumes they will magically be able to buy a house because prices will be cheaper without landlords.

The theory that housing will be cheaper without landlords comes from the idea that a bunch of housing will be available to buy. However, that housing has occupants and renters living in the homes. There will not be a lot of housing to buy unless you kick those renters out. Sure some renters may be able to buy the house they are currently living in but there still won’t be a massive influx of supply unless there are millions of homeless renters. These theories also assume everyone will get a loan after the laws are all changed eliminating credit and other loan requirements. We saw what happened with loosened lending guidelines in 2008.

Without landlords, there will be massive amounts of homeless because the step from homelessness to housing is a rental not buying. Some people might say more social housing is needed. I can see that argument but landlords are not stopping more social housing from being created, in fact, they help create the social housing that exists.

How do landlords prevent homelessness?

The United States has many programs for those in need including Section 8 housing vouchers, local city and state programs, and affordable housing grants and tax benefits. Most social housing is not built or run by the government, it is run by investors. The government encourages affordable housing projects to be built and redeveloped but they are not the ones doing the work. It is real estate investors who build and create these properties. The US is not alone in this either. Many people point to Austria as having massive social housing programs. They fail to realize that private investors own most of that social housing. Section 8 vouchers are used on properties owned by investors, not the government.

House flippers also buy properties that are unlivable and make them livable again creating more houses which helps reduce homelessness and increases the housing supply as well. I have brought many single-family and multifamily properties up to livable standards after buying them vacant. Do I make money when I do this? Hopefully! If investors do not take on these projects, no one will and there will be less housing and more expensive housing because of supply and demand principles.

Real estate investors also build housing. They build apartments and even single-family homes. Do these turn into rentals? Yes, but that still adds inventory to the market which means more choices for buyers or renters. More inventory means a more stable housing market and fewer opportunities for out-of-control price increases.

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Should real estate investors be restricted on what they can buy or build?

There are many people, including people in the real estate industry who feel real estate investors should be restricted on what they can buy or build. The government is trying to restrict investors from buying properties as well. Many of these programs are aimed at huge institutional investors but they are a tiny part of the real estate market. They own less than 1 percent of housing.

As I stated before there is a shortage of rentals on the market. That is why rents have been increasing so much.

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Owner occupied vs rental units

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Owner occupied vs rental units

The best way to increase rents and increase housing prices is to limit supply which is exactly what more restrictions on investors will do. The most expensive markets in the country have the most restrictions. Many large institutional investors are building houses as well when we desperately need more houses to be built! I can’t believe some of the people saying this is bad and must be stopped.

Conclusion

Without real estate investors there would be less housing, more homelessness, higher prices, and pretty much a disaster. Investors create affordable housing and putting more restrictions on them will discourage them from doing so and create less affordable housing.

Build a Rental Property Empire

Categories Real Estate

Source: investfourmore.com

Apache is functioning normally

Sitting high above Laurel Canyon, overlooking Los Angeles, there’s a four-structure compound with a rich history and quite a few famous past residents.

Built in the 1930s, the four-structure compound — known as The Crown Jewel — consists of a two-bedroom, two-bath main house, a charming pool house, an A-Frame guest house with its own kitchenette, and a hillside bungalow dubbed “El Nido de Nestor” — paying homage to its former longtime tenant, the Academy Award-winning cinematographer Nestor Almendros.

But the Spanish cinematographer is not the only celebrity to have lived in the Laurel Canyon home.

The four-structure compound, seen from above. Photo credit: Sergii Dolgyi courtesy of Compass

Up until a few years ago, the whole property was owned by actor and director Corbin Bernsen (who sold the place in October 2020 for $2,040,000, public records show).

Perhaps best known for his eight-year stint as retired police detective Henry Spencer on the beloved procedural Psych or as Arnie Becker on L.A. Law, Corbin Bernsen is also a familiar face among fans of series like The Resident, General Hospital, or The Young and the Restless, where he made several appearances.

However, 2114 Kew Drive’s most famous resident was FRIENDS actress Jennifer Aniston.

Aniston reportedly lived in the A-frame on the property, renting it for a while before she reached stardom.

In fact, she was living here while filming FRIENDS, before her iconic portrayal of the funny, spoiled Rachel Green (and the accompanying haircut) made her a household name.

The A-frame on the property, where Friends actress Jennifer Aniston once lived. Photo credit: Sergii Dolgyi courtesy of Compass

Now, the star-studded Crown Jewel of Laurel Canyon is being offered for sale at $2,595,000. Wendy Moore at Compass holds the listing — and even she was mesmerized by the house.

“2114 Kew Drive stands out among the homes I’ve listed in LA as a personal favorite,” Moore tells us via email.

“What sets this property apart is its unassuming charm; it’s been dubbed the Crown Jewel of Laurel Canyon, yet it maintains the laid-back, funky vibe that draws buyers to this neighborhood. Truly, it’s a one-of-a-kind gem!”, Wendy Moore added.

The compound has a total of 4 bedrooms and 4 baths, and interior spaces — including the living area and dining room — thoughtfully oriented to provide awe-inspiring vistas of the landscaped surroundings and downtown Los Angeles,

The main house. Photo credit: Sergii Dolgyi courtesy of Compass
The main house. Photo credit: Sergii Dolgyi courtesy of Compass
The main house. Photo credit: Sergii Dolgyi courtesy of Compass

The generously sized kitchen features a captivating architectural ceiling, and seamlessly flows onto an outdoor dining patio, perfect for enjoying meals in the open air.

The main house. Photo credit: Sergii Dolgyi courtesy of Compass

But each of the other structures on the compound has its own charm and vibe, adding to the allure of the property. And they all make the most out of the breathtaking views, which stretch from downtown LA to the vast expanse of the ocean.

See also: ‘Yellowstone’ actress Jen Landon’s quirky & surprisingly down-to-earth townhome in Venice, Calif.

The office/studio. Photo credit: Sergii Dolgyi courtesy of Compass
The office/studio. Photo credit: Sergii Dolgyi courtesy of Compass
The pool house. Photo credit: Sergii Dolgyi courtesy of Compass
The pool house. Photo credit: Sergii Dolgyi courtesy of Compass

Much like our FRIEND, Jennifer Aniston, we love the A-frame the most, with its warm, rustic-chic appeal.

The A-frame house. Photo credit: Sergii Dolgyi courtesy of Compass
The A-frame house. Photo credit: Sergii Dolgyi courtesy of Compass
The A-frame house. Photo credit: Sergii Dolgyi courtesy of Compass

Outside, outdoor seating areas, a pool, and spa all offer relaxation spots with scenic views of the city.

Photo credit: Sergii Dolgyi courtesy of Compass

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Source: fancypantshomes.com

Apache is functioning normally

It’s a fact: Buyer-side commissions are no longer a guarantee and no longer an entitlement. You can’t just assume you’ll be receiving a set percentage on every transaction.

Though this seems like a whole new stress-inducing worry for many real estate agents, the fact is that commissions have never been a set amount, just an expectation or a tradition in many markets. 

Builders don’t all pay the same buyer-side commissions; some don’t pay any buyer-side commissions. For Sale By Owners are the same. It’s time to get better at proving your worth on the buyer side, because soon you may have to ask your buyers to pay all or some of your fee. 

So how do you provide overwhelming value to your buyer clients? How can you become more comfortable asking for an exclusive buyer agreement and have an expectation to be paid for your hard work? 

Fact: If you’re not doing anything for your buyers that they can’t do on their own, why would they hire you in the first place, much less pay your fee?   

Goal: Provide such overwhelming value that you’re all they’re talking about to their friends! Repeat, referral, lather, rinse and repeat. 

Here are the top five ways to provide value to your buyer clients.

1. Present to your buyer clients just like you would in a listing presentation.

Outline exactly what the buying process is, what your role is, what the homebuyer’s role is and how you’ll be working together to accomplish their goals.

More and more, you’ll start to compete for buyer business in a similar way you do for listings now.

2. Find them their dream home.

One of the top concerns for homebuyers as well as agents right now is the historic lack of inventory. It’s YOUR job, not theirs to find the right home for their needs. Stop waiting for them to send you a link to the house they want to see next. Drill down on their needs and get out there and find it for them.

Be more creative in your MLS searches. Change the search area, change the type of home or find an equally great school district to look in that has more inventory. Remove square footage as a requirement. Instead, look for a three-bedroom with a loft instead of only four bedrooms, for example. 

3. Offer them solutions to get a better-than-average mortgage rate.
You don’t have to know as much as your competent mortgage lender does, but you should be able to competently discuss options, such as rate buy-downs, adjustable-rate mortgages and how to pay points to lock in a lower rate on a 30-year fixed mortgage.

Loop your buyer’s lender into the mix and have coffee with your buyer clients and the loan officer to discuss loan options that meet their goals. 

4. Be a matchmaker.
You must be more proactive than your buyer is in the property search. If they’re dying to be in just one specific neighborhood, door-knock that neighborhood for them to uncover the next motivated seller.

If they are in a new construction price range but haven’t really considered it, go take a video of a home that could be a match for them and see what their thoughts are. If there’s a For Sale By Owner in their desired neighborhood and price range, go talk to that seller, take a video and set up a showing (before your buyer does that without you).

5. Be one step ahead of the process once they’re under contract.

This is where being proactive matters. Overcommunicate. Manage the inspection process so they don’t freak out over small items.

Help set up their utilities for them, recommend movers, homeowner’s insurance companies and anything else to alleviate stress. Show your value by making the process smooth and pleasurable instead of stressful and confusing. 

Tim and Julie Harris host a podcast for real estate professionals. Tim and Julie have been real estate coaches for more than two decades, coaching the top agents in the country through different types of markets.

Source: housingwire.com

Apache is functioning normally

Did you know that you should have a safety checklist in place for your apartment? Fret not: This page covers what you should know about optimal home safety. Read on to learn practical tips for keeping your apartment safe and secure from the time you first tour the apartment to when you’re either moving in or enjoying your new place.

Top tips for ensuring safety in your apartment

The real estate industry is booming. But while many aspire to become homeowners, only a few can invest in residential properties. Many have no choice but to reside in apartments and pay for rent or opt for rent-to-own home options.

Take it from Statista: The U.S. apartment rental market was worth $255.3 billion in 2021 and $253.4 billion in 2022, projected to hit $251.1 billion this year. Property owners continue to cater to the housing needs of renters.

But when renting and living in an apartment, safety should always be on top of mind. Not only should you secure your valuables, but you should also protect the lives of the entire household. Note that home safety also translates to comfort and happiness.

That said, consider the home safety tips below before moving in, when doing so or while living in an apartment.

Before moving in

Ask the right questions and observe all the important details even before making the move.

1. Check the apartment itself

Checking the apartment is imperative before moving in. It would help if you considered various factors even when you’re still looking for one. For example, why not rent a senior apartment if you’re living with older household members?

But when examining the apartment, keep home safety in mind. Here’s what to inspect during the apartment tour:

  • Check the doors and windows. You should ensure they aren’t vulnerable to burglars and intruders.
  • Examine the plumbing, electrical and HVAC systems. The goal is to ensure they don’t pose safety hazards at home.

2. Observe the area

Ryan Zomorodi, Co-Founder and COO of RealEstateSkills.com, suggests studying the location. “When looking for an apartment, you don’t only examine the property itself; you also observe the surroundings. You want to ensure living in a safe and friendly neighborhood.”

As such, Zomorodi recommends taking the following steps before moving in:

  • Check the neighborhood. Walk around to get the feel of the surroundings.
  • Meet potential neighbors. If possible, pursue a conversation with some of them.
  • See if it’s a disaster-free zone. Ideally, the area shouldn’t be prone to natural calamities or disasters.

When moving in

Set up your new abode to be as safe and comforting as possible while moving in.

3. Set a security system in place

Making security a top priority is equally important as getting the best mattress for sound sleep. So, upon moving in, prioritize installing a security system. That is, if you have the financial means to invest in security tools and devices.

To set up your home security systems, here are a few recommendations:

  • Have a wireless alarm system. This system should sound an alarm if intruders invade your house at night.
  • Put sensors in your doors and windows. Both are entry points that you must completely secure.
  • Install cameras on your front and back patio. Review the videos once in a while to stop potential burglary. In case of unforeseen circumstances, you have these as proof.

4. Update your doors and windows

Doors and windows are the entry points in your apartment. Unauthorized personnel can get into your house through these points. So, before moving in, consider securing your doors and windows.

If you think these entry points are vulnerable, contact local service providers for real estate to perform upgrades. Here’s what to consider:

  • Doors: Update your door locks with robust tools and materials. If not, install a door security bar to reinforce your security.
  • Windows: Install windows that come with a pair of locks. Ensure these locks are in top shape and working conditions. If not, repair or replace them altogether.

5. Repair your home systems

Sure, the property owner is responsible for the apartment repair before renting out the place. However, it’s best to fix and upgrade various systems to meet your safety requirements and comfort needs. That said, prioritize the following:

  • The plumbing system ensures your water supply distribution and the proper wastewater disposal. Make sure it doesn’t pose health threats and safety hazards.
  • The electrical system powers your entire apartment and the appliances. Ensure it won’t cause a fire outbreak and put your life at risk.
  • The HVAC system regulates the heating, ventilation and air conditioning unit of your apartment. Stay on top of it so it doesn’t compromise your safety.

When living in the apartment

Ensure your home is safe and sound for you and your family.

6. Regulate the use of keys

When moving in, the property owner hands over duplicate apartment keys. Of course, they serve as access to your home. However, it’s best to regulate who holds the key. That way, you can control who goes in and out of your apartment.

Below are a few things to keep in mind:

  • Ask the homeowner if they are the only ones with access.
  • See if the previous tenants have returned the keys.
  • Provide duplicate keys only to your housemates.
  • Keep the keys with you or your housemates all the time.

7. Use curtains to prevent people from peeking

Did you know that you hang curtains not only for aesthetics? For all you know, you can use them to promote safety at home. Of course, they prevent passersby from prying into your apartment.

Keep in mind that there’s a right way to hang your curtains. Strategize on how you’d go about positioning your drapes.

You can open your windows and curtains at a particular time of the day. That is to allow sunlight and fresh air into your home. However, ensure it doesn’t pave the way for people to spy on your apartment.

8. Inspect, maintain and repair your systems

Tom Nolan, Founder of All Star Home, recommends regular property upkeep. “You should stay on top of your apartment’s maintenance regularly. That is to maintain its structural integrity and prevent safety and health hazards.”

Nolan recommends the following measures:

  • Inspection: Examine various parts of your house regularly. Are the toilets slippery? Are the electrical wirings wearing off? Are there growing molds and mildew in the kitchen?
  • Maintenance: No, you don’t just clean your apartment regularly. You must also maintain various systems, from plumbing to electrical to HVAC. Warning: Neglecting them can cause safety risks at home.
  • Repair: If you find minor issues in your apartment, fix them immediately or hire professionals to do the job for you. That way, they won’t escalate into major problems that can threaten lives at home.

9. Keep valuables in a safe

As an apartment renter, you try to stay on top of your finances. You check your household income for social security, taxes, insurance and other expenditures. But you want to ensure that you consistently pay your rent on time.

However, nothing can be more frustrating than your valuables getting stolen at home. So what better way to do than invest in a safe to store all your valuables? Here are some items you can keep in a vault:

  • Cash
  • Jewelry
  • Heirlooms
  • Pertinent documents
  • Other valuables

10. Lock your doors and windows when out

As a property renter, you should be responsible for ensuring home safety. As such, make it a habit to lock your entry points when leaving the house. This is especially true if you’re living alone in your apartment.

However, if you’re sharing your space with others, remind all your housemates to do the same. Even if you’re off to sleep, lock all doors and windows. The last thing you want to happen is to become a victim of burglary just because you forgot to do so.

11. Set contingency plans for emergencies

Disaster safety for apartment renters is imperative. But no matter how you try to stay on top of it, emergencies can strike anytime. Therefore, you should set contingency plans in place.

  • Crimes: In case of emergency crimes, know what steps to take and whom to contact.
  • Burglary: While prevention is still the best measure, plan how to act during such a case or what to do after like incident reporting.
  • Flood: Ensure you have an elevated space in the neighborhood. Also, monitor the weather if there’s a storm in your area. Lastly, evacuate your place as soon as possible if there’s a heavy downpour.
  • Fire: One thing you must ensure is to have a fire exit in your apartment. Likewise, learn some safety measures like putting off a fire using a fire extinguisher and blowing out your candles when you leave a room.

12. Consider getting insurance

Renter’s insurance is precisely what it sounds like — protection for people renting an apartment, house or condo.

Also known as the tenant’s or apartment insurance, it secures your personal belongings and covers things like repair costs, medical payments and additional living expenses in case of incidents.

Anthony Martin, Founder and CEO of Choice Mutual, recommends getting a renter’s insurance. “As an apartment tenant, you want to foster home safety at all times. However, one thing you must consider is financial protection. Getting insurance is key!”

Home, safe home

Home safety is always a top priority. When renting an apartment, focus on this before considering the aesthetics, amenities and other factors.

That said, consider the home safety tips recommended above. Before and when moving into an apartment, follow the practical steps laid out above. And while living in an apartment, always stay on top of your safety and security.

At the end of the day, you want to go home in a safe space, eat a hearty meal with your loved ones and have a sound sleep! Still looking for a safe, comfortable home? Check out our houses and apartments for rent.

Source: apartmentguide.com

Apache is functioning normally

Between rising mortgage rates and soaring loan production costs this year, many lenders and brokerage leaders are reducing headcount to preserve their bottom line.

As a result, many mortgage and real estate professionals may find themselves checking out LinkedIn, whether to search for a new position or make connections in anticipation of the future.

No matter your position, networking is a crucial skill. 

“Whether you’re a recruiter that relies solely on daily calls and emails to make connections or someone in a sales role that utilizes networking as a way to grow their business, it’s useful to understand how to approach each outreach to ensure you’re presenting yourself in the best light,” said Tracy Chongling, producing branch manager at Supreme Lending.

Chongling often receives calls and messages from people looking to connect with her, but often finds the initial contacts very “cold and generic, almost robotic.”

“Obviously I would not expect an individual to build an instant relationship or rapport on the first meeting; however, the ‘canned’ messages and templates being used really show that there is no real interest in me as an individual,” she said.

“I have received several emails and social media messages with a salutation addressed to someone else — if that doesn’t scream copy and paste, I don’t know what does.”

Chongling shared some strategies for smarter outreach and networking for those looking to make connections.

Know what you’re looking for

The first thing to do when you’re looking to network is to know what you’re looking to accomplish by making new connections. 

For example, if you’re a recruiter, you would want to know what each job entails and look for individuals with those skill sets. Or if you work in mortgages or real estate, you may be looking to grow your book of business with potential homebuyers, sellers or new referral partners.

“The key to any outreach is purpose,” Chongling said. “What purpose do you have when reaching out? And what purpose can you bring to the person you are reaching out to?”

Do your research

Once you know what you’re looking for, prepare for outreach by researching the person you want to connect with. 

Chongling said she often receives calls where the caller brings up the company she was at previously when she’s been at her new company for a year.

“If you even looked me up as a whole, it shows my new company name, but you didn’t do that,” she said. “You just saw my name, maybe my production numbers, and ran with it. You didn’t even take the time to see who I am.”

Research allows you to better understand who it is you’re hoping to connect with and shows that person that they are important enough to prepare to speak with. 

Social media can be a great way to see a bit more about a person ahead of time, including their personality, interests, work history and even family life. 

“It helps put the human aspect into the networking attempt,” Chongling said. “If you are connected on social media, maybe add something about a recent post they made or include a clip of an article they wrote.”

Be authentic

One thing that’s lacking in networking is authenticity, Chongling said. 

“One of the easiest ways that people can build lasting relationships through networking is to understand that every interaction is a chance to get to know one another better,” she said. “Don’t approach networking as a chore or a job — think of it as a way to connect with like-minded individuals that could help open doors down the road or even turn into friendships.”

You can show authentic interest by asking open-ended questions, listening intently, learning how you can bring value to each other and being honest.

“Remember that just like everything in life, long-lasting professional relationships are built on trust and a level of comfort,” Chongling said.

Be present

It may sound obvious, but being present in every interaction is key to networking successfully. In this fast-paced environment, everyone is focused on numbers and instant gratification.

Slowing down to actually focus on the conversation and even picking up the phone or meeting in person can make a big difference. 

“Hearing someone’s voice, you can tell sometimes if they’re preoccupied,” Chongling said. “I would say, ‘Smile and dial.’ I think that that impacts people a little bit more.”

Be persistent 

The final piece of successful networking is to follow through and be persistent. Real estate and mortgages are not businesses of one-time communication and that’s it — rejection is part of the job. But so is following up. 

“You never know, when you network with the right people, who you may cross paths with again later down the road,” Chongling said. “I don’t bother people, but I know three to five years down the road, someone’s situation may change.

“If I treated them fairly and showed them that I cared about who they were and I got to know them on a personal level, they’re more inclined probably to reach out to me.”

Ultimately, even if someone isn’t ready to build a relationship or transact with you right then, they may be later. How you treat them in every moment matters both in the present, but for the future.

Improving your networking skills is a way to not only form important working relationships but also gives you a step up the next time you need to find a job.

“There’s a lot of staff that are making their exit from the mortgage business,” Chongling said. “I think it’s a great time for really skilled networkers and recruiters to get up there and really try to find a way to show their value proposition to people.”

Source: housingwire.com

Apache is functioning normally

In addition to discussing Zillow’s financial results and the continual evolution of its Housing Super App vision on its third quarter earnings call, CEO Rich Barton and Zillow executives took time to address the elephant in the room: the verdict of the Sitzer/Burnett commission lawsuit.

While the industry has yet to find out what Judge Stephen Bough’s injunction will say and the three defendants, the National Association of Realtors, Keller Williams and HomeServices of America, have vowed to appeal the decision, Barton believes his firm will thrive regardless the outcome.

In his remarks about the suit, Barton said Zillow is a strong supporter of free, fair and transparent access to real estate information, independent representation, and transparent and negotiable agent commissions.

“From where we stand it seems clear that these principles are in the best interest of mover consumers, agents and the industry as a whole,” Barton said. “We expect industry changes resulting from this lawsuit or ones like it will involve commission transparency and negotiability provisions similar to those seen in several of the settlement the plaintiffs entered into with other real estate franchisors in advance of the trial.”

Barton also told listeners that Zillow believes complete disruption to the existence of buyer’s agents is improbable, as the firm believes it is important for buyers to have someone looking after their interests in the homebuyer transaction. However, if buyer’s agency does disappear, Zillow is considering models where the U.S. market transitions to one where one or two large listing portals offer pay-to-play inclusion on a digital listings marketplace.

“In this scenario, Zillow would be an odds on favorite to become the leading digital listings marketplace, given our brand, traffic, engagement and our unique focus on solving movers real pain points,” Barton said.

Despite what Barton believes would be an advantage for his firm, he said Zillow is not advocating for this to happen.

“We believe the pay-to-play marketplace is a step backwards for consumers and the industry as a whole and we very much like our position and growth plan in a market structure the continually evolves towards our principles of access, independence and transparency,” he said.

Zillow’s financial results

Despite a slower residential housing market environment caused by rising mortgage rates and low housing inventory, Zillow Group still managed to record an annual increase in revenue in the third quarter of 2023.

The real estate behemoth recorded $496 million in revenue, an increase of 3% year over year. The firm’s residential sector was responsible for $392 million of the overall revenue. The sector’s revenue for the quarter was down 3% annually, which Zillow executives were pleased with given the macro environment.

Zillow was also pleased with the performance of its mortgage sector, Zillow Home Loans, which reported an 88% year-over-year increase in purchase loan origination volume for the quarter. Even with this massive increase, Zillow Home Loans still recorded an 8% annual decline in mortgage revenue to just $24 million.

The firm’s mixed bag of revenue results garnered Zillow a net loss of $28 million for the quarter, which represents an improvement over the $53 million net loss it reported in Q3 2022.

“Today we are focused on delivering the Housing Super App, a tech enabled end-to-end platform with products and services that make it easier for people to move,” Barton told investors and analysts listening to the firm’s Q3 2023 earnings call Wednesday evening. “You’ve heard me say many times that 2023 is crucial for Zillow. It’s a year of execution as we prepare to scale in 2024 and 2025. We are very pleased with what we’ve accomplished today.”

While much of the call was given over to discussion of the Sitzer/Burnett suit, to which Zillow is not a party, none of the call featured discussions of the REX Real Estate false advertising lawsuit, in which Zillow, the only defendant, emerged triumphantly less than a month ago.

Originally filed by REX in March 2021, against Zillow and NAR, the lawsuit alleged that changes made to Zillow’s website “unfairly hides certain listings, shrinking their exposure and diminishing competition among real estate brokers.”

Despite the verdict, it does not appear that Zillow’s legal battle with REX is over. On Tuesday, the now defunct discount brokerage, filed a motion seeking a new trial.

In the motion, REX claimed that during the initial trial the court “gave an improper and case dispositive affirmative defense instruction on REX’s claim under the Washington Consumer Protection Act.”

REX claims that this enabled Zillow to “improperly escape liability for knowingly creating a deceptive and unfair web site by simply convincing the jury that it benefitted from doing so.”

Source: housingwire.com

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We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle.

At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year.

To get the weekly picture of the housing market, watch the video above.

Don’t have time? Here are some quick takeaways from our latest data dive at Altos Research.

Inventory creeps up

There are now 562,000 single-family homes on the housing market. That’s up 1.5% from last week.

Don’t be surprised if inventory keeps climbing next week into November. This has been a supply-constrained market, and it’s not just a demand thing.

New listings decline isn’t as steep as a year ago

There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. There are far fewer sellers now than in any recent year.

However, last year’s seller decline was much more steep. By next week, we could have more new sellers than this time last year. This would be the first inkling of a housing market where sales could start to post year-over-year gains.

Soaring mortgage rates stifle buyer demand

There are only 319,000 single-family homes in the contract-pending stage. That’s a fraction fewer than last week and 6% fewer sales than last year.

Although there are just 53,000 new contracts for single-family homes this week and we’re heading into a traditionally slower homebuying season, we might end the year with more sales in the pipeline than the disastrous fourth quarter of 2022.

Consumers are more sensitive to changes in mortgage rates than to absolute levels. Both 2022 and 2023 were marked by sharp increases in mortgage rates. So even if rates stay at 8%, that would imply improving home sales volume in 2024.

Price cuts are still on the rise

About 38.9% of the homes on the housing market have taken a price cut. Future home sale price signals are not as negative as they were this time in 2022 when 43% of the homes had taken a price cut.

Home prices continue to be 2% to 3% above last year and look to end the year at that level. The median price of single-family homes in the United States is now $434,950.

Source: housingwire.com

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Dark interior design refers to a decorating style that uses predominantly dark hues and tones to create a desired ambiance or aesthetic in a space. This style can evoke a range of moods, from cozy and intimate to dramatic and sophisticated. When done correctly, dark interiors can be incredibly captivating and undeniably luxurious, even when it comes to the bathroom. Check out our dark bathroom ideas for a full idea of how to achieve this moody, ultra-luxe look.

Key features of dark interior design

  1. Deep color palettes: This includes shades of black, gray, navy, deep green, burgundy and dark browns. These colors can be incorporated into walls, furniture, textiles and pieces of decor.
  2. Contrast: Even within a dark palette, contrast is important. Using varying shades of dark colors while incorporating lighter accents, can break up the monotony and add depth to any room.
  3. Texture variation: To prevent a space from feeling flat, it’s essential to incorporate various textures. Think of velvet cushions, silk curtains, rough wood and smooth metal. These differences create contrast and drama.
  4. Ambient lighting: While it may seem oxymoronic, lighting plays a crucial role in dark interiors. The right lighting can enhance the perception of dark colors, create warmth and highlight unique design details. Consider using dimmable lights, candles or string lights to set the tone.
  5. Metallic accents: Metallics like gold, brass and silver can pop beautifully against a dark background. They add a touch of luxury and visual interest to the overall design.
  6. Art and decor: Choose art pieces and decorative items that complement or contrast the dark theme.
  7. Layering: In a dark interior, layering textiles like rugs, throws and pillows can enhance the coziness of a room.

Benefits of dark interior design

  1. Creates intimacy: Dark colors tend to bring walls visually closer, making large rooms feel more intimate.
  2. Accentuates luxury: Dark shades, especially when paired with plush fabrics or metallics, can conjure a sense of opulence.
  3. Highlights architectural features: Features like moldings, archways, and built-in shelving can be accentuated with dark colors.
  4. Versatility: Dark interiors can be styled to fit a range of themes from modern and sleek to vintage and ornate.

Variables to keep in mind

  1. Room size and natural light: As explained above, dark colors can make a small room feel even smaller. Ensure the room receives adequate natural light or has enough artificial lighting to prevent it from feeling like a cave.
  2. Maintenance: Dark surfaces can show dust and smudges more easily, so regular cleaning may be necessary.
  3. Balance: If not executed with care, a dark interior can feel oppressive. It’s essential to strike the right balance.

When approaching a dark interior design, it’s crucial to plan carefully and consider how each element contributes to the overall mood and function of the space. It’s also beneficial to take inspiration from design portfolios, magazines or online resources to visualize the result.

Dark bathroom basics

Dark bathroom interiors can create a particularly luxurious and spa-like ambiance when done correctly. Here’s a deeper dive into using dark design principles specifically in bathrooms.

1. Materials

  • Stone and tiles: Dark marble, slate or tiles look classy. Consider using them for countertops, shower areas or flooring. Textured tiles can also add dimension.
  • Wood: Dark-stained or naturally dark woods add warmth in the way only natural materials can. Consider this for vanities, shelving or even certain types of wall treatments.
  • Metal: Matte black or brushed bronze fixtures (like faucets, showerheads, and handles) contrast beautifully with dark interiors.

2. Wall colors

Navy, charcoal, forest green or even a deep plum can serve as your base wall color in dark design. If painting yourself, opt for a finish that can withstand moisture, like semi-gloss or satin.

3. Lighting

  • Task lighting: Essential around mirrors for activities like shaving or makeup application. Consider wall sconces or illuminated mirrors.
  • Ambient lighting: Recessed ceiling lights or even a statement chandelier can elevate the ambiance. Dimmable lights are a great choice for adjusting mood. What’s better than kicking back in the bathtub in a perfectly dimmed room?
  • Accent lighting: LED strips under vanities or behind mirrors can create a soft glow while maintaining a darker vibe.

4. Textiles and details

  • Towels and bath mats: Go for rich, plush fabrics in colors that either complement or contrast with the overall color scheme.
  • Decor: Plants, especially those with dark foliage, can thrive in well-lit bathrooms and complement the dark aesthetic.

5. Mirrors

Large mirrors or mirrored walls can break up the dark tones and help to reflect light, combating the condensing effect dark walls can have on a room.

6. Balancing with lighter tones

If you’re hesitant about going completely dark, consider balancing dark walls or floors with lighter-toned fixtures, textiles or accessories.

7. Consider natural light

If your bathroom has a window, think about the quality of natural light it receives. Sheer dark drapes or blinds can filter light while maintaining privacy.

8. Maintenance

Dark tiles and surfaces can show water spots or soap scum more prominently. Regular cleaning and using squeegees post-shower will help. Diligence is key here in keeping everything looking pristine.

Executing your dark bathroom ideas

Incorporating darkness into your bathroom can result in a chic and modern aesthetic. Here are some dark bathroom ideas to inspire your design journey.

  1. Dark walls: Opt for matte black paint or dark tiles for a bold statement. Pair it with contrasting white fixtures for a clean look.
  2. Dark floor tiles: Choose dark tiles, whether glossy, matte or textured, for your flooring. This can be especially dramatic when contrasted with lighter walls or fixtures.
  3. Black fixtures: Install matte black faucets, showerheads and handles. They pop beautifully against neutral or lighter-colored tiles.
  4. Dark vanity: A sleek dark vanity can serve as a focal point in the bathroom. Opt for one with gold or chrome handles for an added level of luxury.
  5. Black bathtub: Consider a freestanding black bathtub as a striking centerpiece, especially if it’s set against a contrasting backdrop or white floor tiles.
  6. Dark accessories: Incorporate dark colors through smaller items like soap dispensers, toothbrush holders, trash bins and even towels. In a bathroom, even the most basic functional pieces should be thought of as opportunities to enhance the overall aesthetic.
  7. Black framed mirror: A large mirror framed in black can be both functional and stylish, helping to break up wall spaces and reflect light.
  8. Black grout: If you’re not ready to commit to larger black elements, consider using black grout with white or light-colored tiles. This creates an intriguing grid-like appearance.
  9. Black ceiling: A black ceiling can make a dramatic statement, especially when the walls are in a contrasting lighter shade. This is a great idea for smaller bathrooms or powder rooms. It allows you to embrace a dark aesthetic without shrinking the room.
  10. Black window frames: If your bathroom has windows, black frames are both modern and timeless.
  11. Patterns and textures: Play with black patterned wallpapers or tiles for added depth. Think about using a black herringbone tile pattern or a damask wallpaper.
  12. Contrasting elements: Balance the dominance of black with natural materials like wood or plants. For instance, wooden shelves or a few potted green plants can add warmth to the space.

Benefits of dark bathroom ideas

  • Timelessness: Black is a color that seldom goes out of fashion, making it a wise choice for those looking for a lasting design.
  • Versatility: Black pairs well with almost every color, allowing for easy updates or changes in the future. It also compliments most metallic finishes, making it a failproof choice for anything from pewter to bright brass.
  • Sophistication: The color black inherently carries an air of elegance and refinement. Beyond that, black is an excellent color for concealing the type of wear and tear that naturally accrues through regular use.

Welcome to the dark side of bathroom design

Dark bathroom designs can transform an everyday commode into a luxurious escape. As with all design endeavors, the key lies in balance and attention to detail. Incorporating contrasting textures, varying tones, and adequate lighting ensures the design remains inviting and functional.

Remember, while these black bathroom ideas can be captivating, it’s essential to ensure that the space doesn’t become too dark or overwhelming. Proper lighting, reflective surfaces and contrasting elements can keep the space feeling open and inviting.

Still looking for the perfect space to decorate in your style, whether dark academia, modern, farmhouse or otherwise? Explore apartments and houses for rent here.

Source: apartmentguide.com

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One of the most exciting aspects of renting an apartment or home is the decoration opportunities to add your own spin and style to each room. Whether that looks like a Barbiecore-inspired bedroom or curating a dark academia vibe in the office room, the possibilities are endless. A simple way to set the tone of a space is with wall decor, from prints to hangings to customized artwork. In interior design, your wall decor choice is the ultimate finishing touch, turning a mere living space into an expression of your unique identity.

We’ve pulled our top picks of large wall art options that are sure to make a statement and tie any room together.

Note: When you buy through links in this article, we may earn an affiliate commission.

Source: Amazon

Although canvas art accounts for most wall decor options, selecting a perfect piece of art to reflect your style is often tricky. This macrame wall hanging takes the confusion out of the selection, especially for lovers of bohemian decor. This piece is perfect for above the bed or above living room couches, as its images balance neutrality with visual interest.

Source: Amazon

This art set proves good things come in threes. With an understated color scheme, this canvas trio makes for a great addition to your minimalist space, while paying tribute to amazing artists and their legacy. Available in two sizes, you’re able to carefully select which size is needed to spice up your room and wall decor scheme.

Source: Amazon

Art has the ability to transport viewers to another space and time, allowing them to escape the confines of reality. This abstract wave art piece does just that, bringing the peace and tranquility of a serene ocean right into the heart of your living space. The 3D design separates this canvas from others, ensuring naturally sparked conversation at your next dinner party as well.

Source: Amazon

Another trio set made our list, and for good reason. This bohemian-inspired canvas set blends neutral colors with interesting patterns to generate intrigue while tying together your room. Fade-resistant and waterproof, this canvas art set is built to withstand life’s challenges, ensuring long-lasting beauty in your living space.

Source: Amazon

Sometimes our favorite decor items are those that hold special meaning and value. If you have creative little ones, who bring home new artwork every day, look no further. Not only does this wall-mounted frame display special creations, but stores them as well. Place your newest display piece in the frame while leaving the last creation stored inside, ensuring art rotation throughout the seasons and time.

Source: Amazon

If you’re looking for art beyond a canvas or print, check out this set of seagrass wall baskets. These woven baskets blend seamlessly with various interior styles, from that chic boho look to the cozy modern farmhouse feel. Available in four different arrangements, this natural collage is a one-of-a-kind addition to any wall in your home.

Source: Amazon

Getting creative with wall decor is easy, there are endless options of varying textures, materials, patterns and sizes, depending on your style preference. This metal outline of the mountains is a statement piece, perfect for above your bed or couch. Its sleek and modern design adds a touch of sophistication to any room, making it a focal point for your interior decor.

Source: Amazon

Looking for wall art to brighten your day and set a positive tone in your place? This retro poster does just that while bringing a cute vintage charm to your space. The encouraging message, sitting permanently on your wall, will dually uplift and brighten both you and the room.

Bring life into your space with large wall art

Navigating the huge selection of wall art on the market can mean scouring the internet trying to find the perfect piece for the empty wall spot you’ve been eyeing. Utilize this list as inspiration when digesting between fine art, framed prints and printed photography to find what speaks your personal style and personality.

Still looking for that perfect apartment to decorate to your heart’s delight? Find the perfect place in one of our available apartments for rent.

Source: apartmentguide.com

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I (Mark Ferguson) will hold 4 in-person masterminds in Colorado in 2024. I love doing these because it gives people from all over the country a chance to meet, learn about each other’s business, give advice, get advice, and think outside the box. I attended a mastermind like this a few years ago and loved how much it helped my business and helped me to think bigger and consider things I have never thought of. It is easy to get stuck in your business and stuck in your ways if it is only you trying to figure everything out.

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Register your Mastermind seat >>

Who is Mark Ferguson?

I will be the first to tell you that I am not for everyone. I hold these events because I feel I can offer value to people well above and beyond the cost. The people who I can help the most are go-getters, are willing to take some risks, want more than the status quo out of life, and are open-minded to new ideas.

I started in real estate in 2002 after college, where I obtained a business finance degree. I started very small painting houses, doing landscaping, and running errands for my dad who was an agent and flipped houses once in a while. Eventually, I got my real estate license, started helping with the flipping business, and still made very little money. My life changed when I took control, started cold calling banks to get foreclosure listings and started my own career. I then bought rental properties, always making sure to get awesome deals. Eventually, I built up the flipping business, bought out my dad, started my own office, and began to buy commercial and multifamily real estate. In the last few years, I started buying businesses that came with the real estate like a liquor store, laundromat, car wash, and more. Through all of this, I documented my journey through social media, YouTube, and my blog Investfourmore.com. At these masterminds I am willing to talk about anything and everything that I have done, do, or plan to do.

When are the mastermind events?

I have had a couple of these masterminds in the past but this year I wanted to go bigger and better by scheduling them well ahead of time and giving people multiple dates to attend. All of these will be held in my office Blue Steel Real Estate in Greeley Colorado. We will also be taking trips to see some of my projects (rentals, files, businesses) so I can show you exactly what I do and why. We may also look at a property for sale to show you what I look for in a deal and why.

Here are the dates:

  • Winter 2024: January 8th and 9th
  • Spring 2024: April 22nd and 23rd
  • Summer 2024: July 22nd and 23rd
  • Fall 2024: October 21st and 22nd

Register your Mastermind seat >>

How intense are these events?

When I hold a mastermind it is 2 days packed full of information and interaction. You will not just be interacting with me but with other people in the group who are real estate investors or business owners as well. We spend all day talking with each other, visiting properties, visiting my staff, and going over each other’s business so that we can all help each other do better. I also give specific training on finding deals, finding financing, and repairing and maintaining properties.

Are these serious or fun events?

I am very serious about business but I am also very laid back and know that being mad or blaming others won’t fix my problems. I am also a fan of laughing and having fun. We pack a lot of information into these events, but we also have some fun, mostly making fun of myself. These events come with meals, and time to relax as well. You don’t have to worry about offending me or making me mad because that is virtually impossible.

What is the agenda for the mastermind?

The heart of the mastermind is going over each person’s current business and plans. We will dedicate a large chunk of time to brainstorming ideas, sharing experiences, and offering support and ideas to each other. We will also take a field trip to a few of my projects including flips I am working on, businesses I own and run like the laundromats or liquor store (maybe something else if I buy something new), and some rental properties (commercial, multifamily or residential). There will also be scheduled dinners and if anyone wants a house or garage tour that is in the books as well.

Are there any discounts for the mastermind?

If you want to bring a spouse or business partner I do offer a discount for the second person as long as they are sharing the same business plan. If you want to attend multiple events there is also a discount available. Please just email me below.

How do I learn more and sign up?

Learn more and register your Mastermind seat here >>

Donations

For each ticket sold, I will donate $500 to charity. I have picked out my charity and it is Get the Facts Out Organization which helps develop and recruit students to become teachers. I am on the board of this nonprofit and it is making a massive impact on the teaching industry. The world and the US need more teachers, especially STEM teachers and this group is doing a great job tackling this growing problem.

Have questions?

Check out the registration page at investfourmore.com/mastermind.

If you have questions about the discounts mentioned or any of the details, you can also contact me here.

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Categories Real Estate

Source: investfourmore.com