According to WalletHub, a personal finance site, New England is home to some of the safest cities in the nation. Using 35 key indicators of safety, analysts have compared over 180 cities and scored them in four separate categories: overall safety, home and community safety, financial safety, and natural disaster risk.
The cities of Nashua, NH, South Burlington, VT, and Warwick, RI, were rated as the safest overall and took the top three spots on the list respectively.
Warwick was rated second in terms of home and community safety, South Burlington was rated seventh in terms of financial safety, and Warwick was rated seventeenth safest in terms of natural disaster risk.
Boston is rated as the 133rd safest city. It was ranked fifth in terms of fewest traffic fatalities per capita and fourth in terms of lowest percentage of uninsured population but was tied for last in terms of most hate crimes per capita.
Miami recently made the cut for Amazon’s much desired second headquarters. The area has pitched eight different sites throughout Miami-Dade County. Three of which are located within the City of Miami limits.
One of the most exciting sites is the one being offered as the Innovation District/Worldcenter site. This site has 23 million square feet of planned developments which include residential, retail, office and hotel space. The clear goal is offering Amazon a place where employees can live, work and play. Several other factors in play are the potential for Tax Increment Financing with a possible $1 billion value, just in time breaking of ground, office space to meet the 8 million square feet that Amazon needs and transit availability.
In addition, HQ2 would have easy access to the new high speed Brightline rail service which will connect Fort Lauderdale, West Palm Beach and Orlando (2020). The Tri-Rail, Metrorail, Metromover and I-95 are all also accessible within minutes.
Locally, there should be excitement about Miami making it to the final list of 20 cities. Cities that include New York City, Los Angeles, Washington, D.C., Toronto, Boston and Chicago. If we can attract a whale like Amazon then the future is bright for Miami’s burgeoning (and hot) tech scene. Whether it is Amazon or Apple the Innovation District is real and will bring in a whole new industry to our city. It is fair to say that real estate values, rents and transportation will be impacted if unlike Ahab we can bring one home.
A recent study has suggested that renting an apartment can make you more money than owning a home. As shocking as this may sound, a thorough review of the data, reveals you should take your time before doing anything drastic.
“A Revision of the American Dream of Homeownership,”published in 2017, does not outright tell us that renting is more profitable, but sobers us with the fact that property appreciation is not as wealth generating as we have come to believe.
Home owners tend to accumulate wealth more than renters, now, due to the accumulation of a strong down payment for a house. From saving for a down payment to switching to home ownership, owners generate wealth easily while renters do not.
The study however, suggests that renters who invest in the stock market could easily outperform homeowners that do not. “When you assume that those monies are reinvested at a rate of return, renting, on average, wins in terms of wealth creation,” states the study’s authors.
Also noted by the study, is that “the difference in wealth between renting and owning can be most affected by choices within the scope of the individual rather than through the impact of exogenous market variables.”
Cryptocurrencies like Bitcoin are new electronic cash systems that are completely decentralized with no server or central authority. Bitcoin and other cryptocurrencies advocate that blockchain technology is the key to a secure monetary future. By providing unique access codes, secure transactions can take place from almost anywhere in the world and the blocks of code will create an incorruptible record of each transaction and access point.
This is relevant to the real estate industry because it would allow buyers to provide secure funds in a relatively short amount of time.
According to Bitcoin, there are several advantages of using their form of cryptocurrency. Users can make or receive payments regardless of location or time of day. Transfer fees are cheaper because they are not based off of the total amount of funds being transferred. Since private consumer information is not included in the transaction records, transactions are more secure.
Users can also add layers of protection to their crypto assets by using two factor authentication and alternative backup methods.
The real estate industry is slowly starting to accept Bitcoin and cryptocurrencies because of these advantages. The International Blockchain Real Estate Association is a member-focused advocacy, educational, and trade organization dedicated to implementing blockchain real estate.
According to their website, cryptocurrencies can “reduce costs, stamp out fraud, speed up transactions, increase financial privacy, internationalize markets, and make real estate a liquid asset”. Some luxury homes for sale are already being listed on MLS’ with cryptocurrency price tags and some landlords let renters to pay with virtual currency because landlords do not have to worry about checks bouncing and funds clearing after a day or two.
Blockchain technology is not without its own challenges. Cyber fraud has resulted in the loss of tokens worth millions of dollars. Many sellers currently do not accept Bitcoin and other cryptocurrencies because they have little to no experience with them. Currency volatility has always been an issue and new cryptocurrencies are being invented on a regular basis. Despite these drawbacks, more and more real estate opportunities are beginning to welcome blockchain technology.
As urban centers continue to see rents skyrocket, it is important for many to learn how to live in a city on a budget. Here are some tips to get you started:
1. Build a real budget and stick to it.
Learvest is a financial planning tool created by a Harvard Business alum. Their team recommends at 50/20/30 rule.
50% of income should go towards fixed costs (this will largely include rent)
20% should go towards paying off debt or be put into savings
30% should be used for flexible costs (entertainment, eating out, etc)
2. Think about what your rent includes and take advantage of these offerings.
Think about what rent includes. Are utilities included? Do you have a gym? Is parking included? Is public transportation readily accessible nearby? Do you have access to free laundry?
These are all money savers that can lower your effective rent.
3. Reduce transportation costs
A car can easily zap your budget. Financing/leasing costs, gasoline costs, maintenance, and insurance add up very quickly. Instead, opt for public transportation and perhaps look into a bus pass. A bicycle can pay itself off in no time and prove to be a worthwhile investment.
4. Eat-in more frequently.
While it can be tempting to try the array of restaurants that come with living in a larger city, make a concerted effort to cook your own food. This can save hundreds of dollars per month. Try to make cooking a fun event and include friends when possible. Likewise, packing a lunch during the day can also have the potential to save hundreds of dollars per month.
1) Daily Schedule
Ask any top agent about their weekly schedule and you will see it is very similar on a day to day basis. They have specifically set aside a block of time to work on very specific tasks; and most importantly they stick to their schedules! If you are having trouble crafting your schedule start by listing out all important tasks you must complete to build your rental and sales business.
Next, group all tasks into “must do daily” and “must do weekly” segments. Then prioritize all “must do daily” tasks in order from “most important” to “least important.”
The most important daily tasks should be the bulk of your daily schedule. You can then sprinkle in the weekly tasks where you have time.
2) Be Consistent!
One of the worst behaviors an agent can fall into is the inconsistency trap. Consistency with all aspects your business is a must to ensure prolonged success. Crafting and sticking to your daily schedule will allow you to be consistent throughout all aspects of your business. Consistency in your lead generation efforts is specifically important.
If you find yourself having very similar conversations with all your potential clients, it means you have become consistent!
3) High-Tech, High-Touch
The Real Estate Industry
is being flooded with productivity tools aimed at helping you be a better and more efficient agents. One such example is the Rental Beast Broker Portal
with our CRM
included or our Application Tool. Use these tools. It will help improve the efficiency of your business. However you must be cautious to not loose the personal touch old-school real estate agents relied upon! Every so often, send hand written notes to your clients or drop them a phone call, just to see how they are doing. This will ensure you don’t loose the personal touch!
A slow and low Winter of homes for sale tends to lead to a blossoming of inventory and a more active market in the warmer months. But this year seemed to be the exception; especially for the DC area.
Local real estate experts say that a healthy market should have around a six-month supply of inventory, but this year there is less then a two-month supply in the DC market. Based off 2012 numbers, DC inventory has dropped 27% and it has affected all price ranges and housing types. The inventory segment to be hit hardest by lackluster supply are the lower-priced starter homes, which are down 42%.
What does this mean for real estate agents in the DC area?
Lower inventory means higher prices which are scaring away first time home buyers like millennials and keeping them in the rental game. Because of this the multi-family market is seeing a huge boost.
Multi-family inventory saw a 3.6% increase last year – greater the national average of 2.4%. And, with over 4,600 units permitted in 2016 – the second highest and only exceeded by the record breaking 2015 – this new inventory has helped keep rents under control with a slim 2.6% year-over-year increase in rents – compared to 4% nationally. These numbers renting a viable option for those priced out of the competitive sales market.
Now that we’ve hit the Winter season once again, only time will tell whether or not the market can swing back around in Spring 2018.
How can agents capitalize on this strong rental market?
The Rental Beast platform provides the perfect addition to any real estate professionals business portfolio. We have the largest database of listings in the DC area including the MLS and other local sites that our Rental Beast ninjas have meticulously searched for, acquired, and added to our platform with the all information you will need to help your clients. Our platform provides several avenues to help agents market themselves and generate rental leads in the DC area.
Rental Beast agents live by the mantra that all rental leads are future home buyers. By building that relationship now handling their rental search, you ensure that when they decide to purchase in the future, you will be the first person they call.