Homeowners, considering selling their homes, should, recognize, consider, and understand, much of, real estate, is local! After, more than a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have often, been asked, why a particular house, does not appreciate, at the same pace, as, either, the national average, or certain, nearby neighborhoods. I explain to them, much about real estate, applies, in nearly every area, but a considerable aspect, to realize, and understand, is real estate is, to a very large degree, local. With that in mind, this article will attempt to briefly consider, review, and discuss, 6 ways, every local market is somewhat unique, and this, often impacts, pricing, etc.

1. Schools: Potential home buyers, especially those with, school – age, children, pay close attention, to the local school system, and how, it compares with surrounding areas. Many will pay attention to how, it impacts, their real estate taxes, and whether, they believe, this quality, is worth the price – tag. While there are pros and cons, when one balances the costs, versus the value, in most cases, neighborhoods, with the best schools, garner higher prices.

2. Safety: People want to live in areas, where they feel, safe and secure! Remember, there are public, published records, of how many, and the types of crimes, committed, in a particular region, and, in today’s, digital world, potential buyers realize, they can find out, these types of things!

3. Taxes: Some houses, in some neighborhoods, are taxed, far differently, to similar ones, elsewhere. Since, the vast majority of home buyers, use some sort of mortgage loan, for a significant portion of their payment, the amount of monthly installment, required, is a significant, relevant one. Real estate taxes, might become a significant factor, in this consideration.

4. Transportation: Most want to live, somewhere, where transportation is convenient, but, they don’t sacrifice, their peace, and quiet, by living too close to a major artery. For some, this means, convenience to access to highways, and/ or other significant roads, while, for others, it means, public transportation issues. Buyers are generally, willing, to pay, for this consideration!

5. Local economy: How do people, perceive the local economy, to be? How does it compare in one area, as opposed to others? How many potential buyers, versus properties, available on market, makes a significant difference!

6. Local job market: Is the local job market, and employment, stronger, or weaker, in this, specific region?

Much about real estate, depends on local issues, and markets! Those who understand, and pay keen attention, will better understand, the specific considerations, involved.

Although it appears to have been mainly technical factors that triggered the correction in the stock market, inflation concerns have been the major cause for plummeting stock market prices. We have outlined such a scenario of inflation and its impact on real estate investments.

Indeed, the difference between current and trend economic growth is moving close to zero, rising labor demand is putting upward pressure on wages and salaries, but it is still far from a strong acceleration in inflation rates. Meanwhile, the recommendation by the US Department of Commerce in its investigation to restrict aluminum and steel imports on national security grounds is a reminder that the risk of escalating trade tension has a significant impact on real estate investments.

We are not suggesting that the probabilities of risks have risen substantially in light of these events. However, we argue that higher volatility combined with uncertainties about the future uncertain outlook for US trade policy is not an environment where we should risk everything on one endeavor, but rather seek returns by pursuing opportunities in the real estate market.

It would be more than natural that unjustified price appreciations will be corrected over time. Some observers believe that rising inflation may have played a prominent role in the recent stock market sell-off. However, higher inflation points to an overheating economy and rising wages could lower profit margins. Neither case obviously applies at the current time. However, historical evidence shows that periods when inflation begins to rise often create volatility in real estate markets and, on average, returns are meager. Finally yet importantly, higher interest rates could hit real estate prices if they reflect rising risk. Higher interest rates should be less relevant if they result from higher growth.

For now, we expect the implications of rising interest rates on the real estate outlook to be limited. A more persistent significant decline in real estate prices could, however, be associated with somewhat slower growth, either because the economy anticipates a slowdown, or because economic decline itself dampens growth.

The impact of rising interest rates on growth also depends on the factors that pushed up interest rates. The rise in interest rates could be the consequence of stronger growth momentum, in which case the economic fallout is understandably limited. However, if higher interest rates reflect rising risks, for instance, then growth may well suffer more significantly. Financial conditions remain very loose and interest rates relatively low. This should continue to support economic growth.

Therefore, we are keeping our scenario of sustained economic growth: (1) higher world economic activity, (2) rising fixed capital formation, (3) a very gradual adjustment of monetary policy in the US. We acknowledge the risks from higher protectionism, as recent announcements are a reminder that trade frictions could escalate significantly. At this point, it remains to be seen what action the US will take and how other countries may respond.

Since the beginning of the Great Recession in 2008, most have averted the specter of deflation by deploying conventional and – even more importantly – unconventional measures of monetary policy. Inflation in the US averaged around 1.5%, with a dispersion of -2% in mid 2009 to approximately 3.8% in late 2011. Currently, US consumer price inflation stands at 2.1%.

In the US, the government is embarking on a path of fiscal stimulus, and more trade tariffs and trade friction may push inflation higher. However, several factors are keeping underlying inflationary pressure contained for now, including still-cautious wage bargaining behavior by households, price setting by firms and compositional changes in the labor market. In addition, the recent readings have likely overstated current price trends,( the surprising weakness in inflation in 2017). Outside the US, wage and price trends have not changed much in recent months.

Against this backdrop, we do not foresee any surprises over the course of 2018. The Fed is expected to gradually lift rates with caution depending on the tightness of the US labor market, the evidence of accelerating wage dynamics and the potential impact of higher financial market volatility on economic growth.

In addition, a tax policy that fosters the competitiveness of Corporate America and attracts direct foreign investments, helping to raise the potential growth rate of US, should also be supportive for the greenback. At the same time, there are as many factors pointing to a glorious future for real estate markets

According to the Federal Reserve Bank of New York, the current probability of recession for the US economy stands at around 4%, moving to approximately 10% at the end of 2018. In our view, the gradual tightening of monetary policy, limited inflation expectations and cautious investment demand, will keep real interest rates relatively low. Therefore, we prefer real estate investments in 2018.

One of the essential conflicts, at least, potentially, of real estate representation, and being a professional, real estate agent, is the competition, between, an agent’s need to make a living (because only if he sells, will he earn a living/ commission), and the responsibility to proceed, in an ethical manner, and maintain the utmost degree of integrity, and prioritizing his client’s needs, privacies, and best interests. Far too often, we witness, someone taking, lots of time, and paying attention, to creating an attractive, conducive atmosphere, to inspire, being hired by a homeowner, rather than fully informing his client, of the possibilities, and effectively preparing an individual. Isn’t it about time, for real estate agents, to keep it, REAL? With that in mind, this article will attempt to briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and how it might help the overall process.

1. Relevant; reasoning/ rationale; ramifications; realistic; rational: Many homeowners become their own worst enemies, because, they permit their emotional attachment, to their homes, outweigh, a rational, realistic consideration, and review. Responsible agents, provide relevant direction, and explain, much of what, should be anticipated. They explain their reasoning and rationale, and why, they believe, this approach, is best. It’s important to realize, the potential ramifications, realistically. Clients need, and deserve, representation by an agent, who is realistic, rational, and wants, to reduce the stress, and tensions, of the real estate transaction period.

2. Empathy; energize; excellence; endurance: Great agents consistently, listen effectively, and learn from every conversation and experience, so they might proceed with the utmost degree of genuine empathy! Often, clients are overwhelmed by the process, and need energizing. Nothing, other than demanding one’s utmost degree of personal excellence, is acceptable. Since there are often, bumps, along the road, your representative must be prepared, and create an atmosphere of endurance, and insights!

3. Attitude; aptitude; attention; articulate: A positive, can – do, attitude, combined with a well – developed, relevant aptitude, and skill – set, make the process easier, and less stressful! When one pays attention to details, and commits, to his client’s needs, and addressing fears and apprehension, he begins, to make it REAL! Seek an agent, who is ready, willing, and able, to articulate, clearly his ideas, and perceptions!

4. Listen; learn; leadership: A quality agent must effectively listen, and learn, from every conversation, and experience, and demonstrate valuable leadership, through the entire transaction process. While there may be ups – and – downs, great agents, ease the overall experience.

A client needs, and deserves, great representation, by an agent, who is willing to keep it, REAL, in his client’s best interests. Wise homeowners select carefully!

Many, often wonder, why, it is often, so challenging, to understand, predict, etc, many of the variables, involved, when it comes to the real estate market. Why are prices, so high, or low, or a buyers market, or sellers market? Why do some houses, sell, very quickly, while others, remain, unsold, for a seemingly, long period? What makes pricing fluctuate, etc? With that, and more, in mind, this article will attempt to briefly consider, review, and discuss, 6 factors, which often, determine, how the real estate markets, might perform, etc.

1. Supply and demand: Like so many economic issues and considerations, supply, and demand, often, is a major factor, in the performance of the housing market. When there are more buyers than sellers, we call this, a sellers market. When the scenario is reversed, it’s a buyers market. When there is balance between those seeking to buy, and sell, conditions are neutral. Many factors and considerations, go into, what market conditions, might be, including the overall economy, mortgage rates, tax laws, employment/ jobs, etc.

2. Economic strength/ employment: When potential homeowners feel comfortable and secure, in terms of their employment, presently, and for the foreseeable future, they proceed, with a mindset, which focuses on the possibilities!

3. Consumer confidence: The more, consumers exhibit confidence, in the overall strength and stability of various factors in the economy, and the more convinced, ownership has advantages over renting, etc, the stronger the possibilities for housing and real estate pricing. Relevant factors include: mortgage rate trends; tax considerations; the attractiveness of certain neighborhoods, areas, and homes, etc; and the overall national and international economies, and the balance between positive and negative factors/ trends.

4. Mortgage interest rates: When mortgage interest rates are low, the corresponding monthly carrying charges/ expenses, are reduced, This means one can buy, more house, and be able to afford the costs. When rates are higher, monthly costs rise, and, this is generally, a negative factor, in terms of rising prices!

5. Tax considerations: The tax reform legislation, passed at the end of 2017, places caps, on the amount of real estate taxes, which are deductible. Therefore, homes in states, with higher state and local taxes, are somewhat, at – risk, in terms of maintaining their value, because this, significantly increases the costs of home ownership!

6. Real estate, often, is local: There is a slogan, All real estate is local, which means, every local housing market, is different and variable! Avoid believing, what happens elsewhere, is directly related to your specific region.

An educated homeowner is beware, and prepared! The more one knows, and understands, the better all are served!

All too often I see small business owners missing the mark with their marketing. Sure, it’s easy to do when you specialize in a specific industry niche and you spend your time engulfed in industry sector jargon. However, it’s best to put yourself in your potential customer’s shoes and think your marketing through from their perspective, addressing their most important questions. Your customers want to be able to trust you, to know you are looking out for their interests and that you don’t just see them with Dollar Signs in your sunglasses.

Below is a sample page, perhaps good for a website, brochure, email, or letter. Why not look this over and consider how you might form your own message. Use your own voice, your own style and remember you are talking to your customer across the table for the first time. You know what questions they will ask. Show that you care, that you are working for them, and will go out of your way to get them the best rates, and great service. Here is the sample:

Commercial Real Estate Loans

Are you looking to purchase an income property such as an apartment building, small office building, or retail center? Would you like to put several rental properties in your real estate portfolio into one commercial mortgage? Wish to find a suitable piece of land and develop that property? Do you need a loan for acquisition and construction?

Do you want to buy a business property with a business on it; a restaurant, carwash, service station, laundry mat, hotel, etc.? Are you looking for a commercially zoned property with a warehouse or industrial building on it? Are you expanding an existing business and/or want to own the property under your business rather than paying the monthly lease?

Are you in the agricultural sector, looking for specifically zoned farming property; land for a vineyard, orchard, or crop such as berries, vegetables, or flowers? We have significant experience to make this happen. Our area in Southern CA has one of the best climates in the world, and incredible top soil for growing almost anything.

We can assist with all types of commercial real estate loans including government-guaranteed loans such as FHA, USDA, and HUD. If you are looking for an SBA 7(a) loan or a CDC/SBA 504 loan for commercial real estate we can get it done.

We can assist you with traditional commercial mortgages, commercial bridge loans, or commercial hard money loans. We also have lines on non-traditional sources for hard money commercial real estate loans, which are custom tailored to you needs for complicated projects outside the normal scope of typical commercial real estate loans and mortgage offerings.

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Why not try something like this? Just because the Federal Reserve has raised rates doesn’t mean you have to let new deals and new clients move to your competitors. I hope you will please consider all this and think on it.

If you are looking to sell real estate in Jamaica, you can do so by attending the Real Estate Salesman’s Course #100H that is offered at the University of Technology, Jamaica. After passing the course, you are required to go through a few background checks to ensure you don’t have any skeletons in your closet. The final step is an interview with the Jamaica Real Estate Board to get final approval for you to become a Sales Agent.

Salesman’s Course #100H

This course is four weeks full time at the Faculty of the Built Environment, University of Technology, Jamaica. It offers material that is necessary for you to become an efficient agent in the local market, because what you don’t know can hurt you. You will be trained to handle transactions for Jamaica Properties such as Sales, Rentals and Leases.

Background Checks

The nature of the industry involves huge monetary transactions and in such a field you might find persons of a dishonest nature. In order to protect persons and their assets from thing like fraud, a background check is done on each applicant for a license approval, one of these checks is a police report.

The Interview With The Board

After gathering all the documents from your background check, you should submit these documents and attend an interview with an officer from the real estate board that puts the final stamp of approval on you application to become a sales agent in Jamaica.

Start Selling

After you have passed the exams and checks to practice in Jamaica legally, in most cases you must be employed to a licensed Dealer in Jamaica. There are some exceptions where persons can sell properties without being licensed but you should check the Jamaica real estate Act for the conditions.

Many factors affect the price, a specific house, might garner, if offered, for sale, on the real estate market. While there are both, emotional, as well as logical considerations, involved, four specific factors, generally, are the key components, which make the biggest differences, in what price, a specific home, might get, and offers, which will be presented. While there are always, competitive factors, especially how a specific property, compares, to others, for sale, in the local area, after more than a decade, as a Real Estate Licensed Salesperson, in the State of New York. I have come to believe, 4 specific factors, are most significant and relevant. With that in mind, this article will attempt to briefly consider, review, and discuss, these considerations, and why it’s important to proceed, with objectivity, and a realistic approach.

1. Overall economy, and consumer confidence: Obviously, the stronger the overall economy, and the more consumer confidence, as well belief, in a strong, sustainable employment/ job market, the more, people, might be ready, willing, and able, to pay, for a new home, of their own! Perceptions are often, far more essential, and relevant, than any other single factor/ factors!

2. Interest Rates and Real estate taxes: Overall interest rates, are the key, to mortgage rates, and obviously, the lower these rates, the lower, the monthly costs, for the homeowner. Even a somewhat minor, change in the rate, often, makes a significant difference, in the monthly expenses. In this mindset, one must consider, real estate taxes, also, because, they factor into, the overall costs, of home ownership, maintenance, etc.

3. Supply and demand: Real estate markets might be considered, Buyers Markets, Sellers Markets, and/ or neutral ones! When there are more buyers than houses on the market/ sellers, it’s a Sellers Market. When there are more sellers than those qualified buyers, looking, it becomes a Buyers Market, and when it’s somewhere, more balanced/ in – between, it’s a neutral one. Obviously, in most cases, the highest prices, occur in Sellers Markets, based on the economic concept of Supply and Demand!

4. Local market: Much of real estate, is local, in nature! Is your local area, in – demand? What are the strengths, and weaknesses? How does your area, neighborhood, location, etc, compare to other areas. Factors to consider include: safety; schools; convenience to transportation, shopping, entertainment; real estate taxes; etc.

The better one understands the actual value, as opposed to what, he wishes for, the more prepared, he will be, for the home buying, process. Will you commit to the tasks, discipline, etc?

Every licensed, real estate agent, must demonstrate a certain, basic level, of professionalism, and knowledge, in order to get their license, in their state. However, in the real world, all agents, are not created equal! Many characteristics are involved, including, experience, empathy, integrity, ethical behavior/ standards, marketing/ selling/ negotiating skills and expertise, etc. However, after more than a decade, as a Real Estate Licensed Salesperson, in the State of New York, I believe, perhaps, the most important consideration, a potential client, should make, is, whether the representative/ agent, adheres to the highest standards of ethical behavior and genuine ETHICS. Not only is this necessary, but is a requirement of most state’s, as well as Real Estate Boards. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means, and represents, and why, it’s such an important consideration.

1. Entire; empathy; envision: Your agent must recognize, realize, and articulate the entire, bigger – picture, not merely, the convenient information. I believe, strongly, in my trademarked slogan, I will always tell you what you need to know, not just want to hear! (TM) When these standards, are combined with a willingness to effectively listen, and learn, and proceed with genuine empathy, the individual, distinguishes himself, from the rest – of – the – pack! Great agents envision the possibilities, and serve their clients, effectively!

2. Timely: An ethical agent must, never procrastinate, but, rather, consistently, proceed, with well- considered, timely action! Hire someone, who will, follow – up, and follow – through, on every possibility, etc.

3. Head/ heart: There are, both, emotional, as well as logical components, of ethical representation! The emotional, include, caring about one’s clients, and their best – interests! The logical component, necessitates, realizing, it’s a duty, and responsibility, to proceed, with the utmost level of fiduciary responsibility, and protecting/ serving a client’s best – interests! I refer to this as the head/ heart balance of being a quality, real estate agent!

4. Integrity; ideas; ideology; imagination: One must possess genuine integrity, especially, when taking a short – cut, and/ or, path of least resistance, might be easier! Seek someone with the best combination of relevant ideas, quality core ideology, and the imagination, to make a significant difference, for the better!

5. Character; cooperate; clarity: Measure the quality of one’s character, and willingness, to proceed, with a willingness, to cooperate! Great agents must proceed, with the level of clarity, which makes the entire transaction period, more comfortable, and less stressful, for their clients!

6. Service; system; solutions: Ask yourself, whether the agent, you hire, prioritizes service, and demonstrates a professional marketing, and selling system, which provides the solutions, you seek!

ETHICS is an essential component, and necessity, of being a professional real estate agent! How can one represent you, without the utmost ethics and integrity?

As of this writing of our research report, we do not yet know the full extent of the US-China trade tension. We are not yet able to estimate the rate of change on the markets. We do not even know yet whether the cost of real estate would be lower or higher in the United States.

Now, rhetoric remains strong on both sides and is leading to a confrontational showdown. It is still unclear how far it might go, and de-escalation will probably only start when there are visible signs of economic, market and/or political pain. So far, we consider these trade tensions between the US and China as a significant risk to sustained coordinated growth in the real estate markets.

We now see no real upside through the remainder of this year, and indeed, there is a risk that the conditions may continue to deteriorate Two key modest positive economic assumptions are: 1) trade with China will be resolved; and 2) the United States’ growth remains exceptional next year.

Due to the current state of the United States economy and the solid economic predictions, we see no surprises from the Feds. They will continue to hike rates in line with growth, employment and expected inflation. Whether there will be further rate hikes in 2018 will depend on the external data. Should there be another acceleration of economic activity and higher wage growth, the Fed will probably respond with a tighter monetary policy stance.

Since the 2010s, the United States economy has been expanding at an average rate of 2.2%. The following factor explains this growth. In the United States, monetary and fiscal policy started to support the economy immediately to mitigate the impact of the real estate and financial crisis on economic growth and employment in 2009.

In spite of the Fed’s rate hikes, interest rates remain quite low and

have been for several years. The Feds are expected to continue raising interest rates. That is why real estate investors are worried. Their fears are ingrained in the perception that rising interest rates will weaken property values. Nevertheless, historical data show that higher interest rates have not necessarily impaired total returns.

While the prospects for residential rental income properties still may be pending, it is important to recognize that economic and financial markets are still concerned with market volatility. This may prove to be challenging since real estate cycles typically turn due to negative imbalances affecting demand and/or to supply drivers. Overbuilding, over-lending, over-buying are imbalances that have characterized past downturns-all appear unlikely under current conditions.

While there are numerous reasons, it makes sense, to use the services of, a quality, licensed, real estate professional, perhaps, the most important one, is, to hire someone, with significant, negotiating skills, and abilities, in order to help you, get the best possible results. Many factors impact, whether one gets you the finest results, you seek and need/ want, including, getting the homeowner, the best possible price, in the shortest period of time, and with, a minimum of hassle/ stress. With that in mind, this article will attempt to briefly examine, consider, and discuss, 6 keys to quality, professional, real estate negotiations.

1. Know client’s needs/ priorities, etc: The Listing Presentation should not be, merely, about the agent, telling the homeowner, what services he provides, and why he would be the person, for them! Rather, the process, and discussion, should start, focused on the potential client, articulating his needs, goals, priorities, perceptions, time – frame, and reasons for selling. Then, there should be a discussion, which brings forth, the best possible marketing and sales plan, and positions the home, in a manner, which will focus on the finest, possible results. The better, client and agent, proceed, as a team, the better the potential results, and transaction period!

2. Understand other side: Quality negotiating necessitates, the ability, to put yourself, in the place, of others! This means, a professional should not, merely tell a homeowner, what he wants to hear, but, prepare him, to see things, from the perceptions of a potential, qualified buyer.

3. Listing price, offers, and counter – offers: Statistics indicate, in the vast majority of instances, the best offers are received, in the first few weeks, after a house, is listed on the real estate market. Therefore, an agent must explain, there might be a significant difference between listing, and selling prices, and, in order, to get the best offers, it’s smart, to price the house, correctly from the start, not based on emotions, but on the logic, of using, effectively and properly, a Competitive Market Analysis, of CMA. Smart, serious buyers, will make offers, which will not insult the seller, while attempting to make their best deal. Counter – offers, if serious, must seek, a meeting of the minds, and a win – win, negotiation.

4. Never weaken: Professionals must always negotiate in the best interests of their clients, and never weaken this position, by disclosing, non – material issues, which they should maintain the confidence. The key to effective negotiations is maintaining the best, possible, negotiating position!

5. Make offer: Offers and counter – offers, should be made strategically, and in, a focused manner!

6. Negotiate professionally, and make the best deal: Discipline, and focus, are necessities of quality real estate representation. You aren’t providing your client with the service, they need, and deserve, unless/ until, you provide professional negotiating skills, and make the best deal, available!

Effectively negotiating requires patience, skill, understanding, and knowledge. Clients should demand professional negotiations, from the person, they hire!