Weekly Calendar

Vero Beach

Monday - Script Practice

10:00 AM - 10:30 AM

Monday - AppFiles

10:30 AM - 11:30 AM

Tuesday - Tuesdays with Bobbie

9:00 AM - 10:00 AM

Melbourne

Tuesday - Workshop for Success

9:30 AM - 10:30 AM

Tuesday - AppFiles

10:30 AM - 11:30 AM

Wednesdays with Bobbie

10:30 AM - 11:30 AM

Friday - Workshop for Success

9:30 AM - 10:30 AM

58% of renters believe it’s a good time to buy

But a lack of affordable housing is holding them back from purchasing a home

BY MARIAN MCPHERSON  Staff Writer                     FEB 7

 

Despite low inventory and high home prices, the National Association of Realtors (NAR) Q4  Aspiring Home Buyers Profile  says Americans are still holding on to their  homeownership goals .

According to the study,  which is based on Q4’s HOME Survey data , 91 percent of homeowners and 80 percent of  non-owners  still believe homeownership is part of the  American dream . Furthermore, 79 percent of owners and 58 percent of non-owners said they believe it’s a good time to buy, a sentiment that was consistent across age, income, city size and regional demographics.

But the majority non-owners (56 percent) aren’t acting on their sentiments because of a lack of affordable housing options and the difficulty of saving a down payment (36 percent).

“A tug-of-war continues to take place in many markets throughout the country, where consistently solid job creation is fueling demand, but the lack of supply is creating affordability constraints that are ultimately pulling aspiring buyers further away from owning,” said NAR chief economist Lawrence Yun in a press release.

“These extremely frustrating conditions continue to be most apparent at the lower end of the market, which is why the overall share of first-time buyers remain well below where it should be given the strength of the job market and economy.”

Although these non-owners aren’t buying homes now, 82 percent plan to do so in the future. That’s a 10-percentage point jump from Q3.

Source: National Association of Realtors

When asked about their motivations for future homeownership, 32 percent said a change in lifestyle such as getting married, having children or retiring would be the main catalyst, followed by an improvement in their financial situation (30 percent) and the desire to settle down in one location (16 percent). Lastly, only 15 percent said a hike in their monthly  rent  would cause them to go ahead and purchase a home.

“ Housing demand  in 2018 will be fueled by more  millennials  finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher,” said Yun. “However, with  prices  and mortgage rates also expected to increase, affordability pressures will persist.”

“That is why it is critical for much of the country to start seeing a significant hike in new and  existing housing supply ,” he added. “Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

The ads remain on Facebook (and Instagram) indefinitely, even when not being boosted. They live at a dedicated page, like this one:

https://www.facebook.com/seaturtlerealestate/posts/2006172093005006

You can bookmark these pages and post to them when you have announcements such as Open Houses, price improvements, a contract, a final sale, etc. Anyone who liked the post or commented on it will see what you post. You can share the ad to your own Facebook pages or groups such as " Vero Beach Homes for Sale" or " Melbourne Florida Homes for Sale".

The Facebook page to bookmark is in the email you receive from Homespotter. If you're feeling very exuberant, you can bookmark you ads's Instagram page, too.

First off, let’s start with the FUN STUFF! Next Tuesday on Valentine’s Day, if you are one of the FIRST 25 people to stop by my office between 10-12 you will receive a half dozen chocolate-covered strawberries in an adorable Valentine’s box. You can enjoy these treats yourself, or share them with someone special. In addition to your delectable treat, you will also be entered into a drawing for a dozen roses. The winner will be chosen promptly at 12 noon, contacted by phone, and followed up with yours truly hand-delivering them to wherever and to whomever the winner choses. Awesomeness! The great Jann Moylan from Bay Capital Mortgage will be here slinging chocolate-covered strawberries with me, and will be giving out her own Valentine’s treat too. Mark the event on your calendar now, and remember IT IS LIMITED TO THE FIRST 25 PEOPLE!

http://www.firstam.com/rep/elbrennan/index.html

Fold Over Brochures, Just Listed and Just Sold Postcards, Just Listed and Just Sold Email blasts:

Proofs will be sent within 2 business days of your order when there is professional photography in AppFiles or attached to your order form.

Where there is no professional photography, or for a custom item, there is no set turn around time but we strive to send your proof within 7 business days.

Open House emails:

Order by Wednesday at noon

You will receive a proof Friday AM

E-mail blast will be sent Friday afternoon

Listings in secondary MLS systems:

Within 7 days of your listing going live in your primary MLS.

Any issues with turn around time, let Bobbie know right away. We want to make sure these deadlines are being met.

At Klass Act Solutions we strive to make your life easier with technology. We do this by making sure the technology you have will work with the technology you are looking to purchase and not only install it but show you how to use it, and in a language you can understand. From single televisions or wireless, to entire connected home system with lighting, security, and energy management controls we can and will "Connect your world". We are a NEST Pro dealer and featured on Season 1 Episode 1 of HGTV's "Container Homes" show.

https://www.houzz.com/pro/kurt_kruel

Contacts from Zillow Group now account for an estimated 7.5% in overall real estate commissions.

In an  earnings report  today, Seattle-based Zillow Group, the operator of listing portals Zillow, Trulia, StreetEasy and RealEstate.com, posted record revenue of $282.3 million in fourth-quarter 2017 and increased its full-year revenue by 27 percent year over year to a record $1.077 billion in 2017.Zillow Group’s revenue beat its own quarterly and annual forecasts, though the company did not meet its expectations for a profit in the fourth-quarter and a $5 million to $10 million net loss for 2017. The company posted a net loss of $77.2 million in fourth-quarter 2017 and a net loss of $94.4 million for full-year 2017. The losses include recognition of a $174 million reduction in the fair value of the Trulia brand  which was partially offset by a $90 million tax benefit.

The company’s revenue expectations stand between $291 million and $296 million for first-quarter 2018 and between $1.302 billion and $1.317 billion for full-year 2018. The company expects a net loss of between $13.3 million and $18.3 million in the first quarter, but a profit of between $38 million and $53 million for all of 2018.

As usual, most of the company’s revenue came from  Premier Agent  advertisers. That program pulled in $199.5 million in Q4, up from $164.3 million in the fourth quarter of 2016 — a 21 percent jump. Full year Premier Agent revenue rose 26 percent to $761.6 million from $604.3 million in 2016.

Zillow Group also reported that traffic to its mobile apps and websites reached more than 151 million unique users in the fourth quarter, up 8 percent year over year.

“Zillow Group had another fantastic year of record results in 2017 and exceeded $1 billion in revenue for the first time,” said Zillow Group CEO Spencer Rascoff in a  statement .

“We successfully transitioned advertisers to an auction-based pricing model, launched RealEstate.com, and continued to grow our emerging marketplaces, including two strategic acquisitions.

“In 2018, we plan to deliver better experiences for consumers buying, selling or renting a home, and strengthen our partnerships with real estate professionals by aligning our growth with their success.”

The company estimated that Premier Agents and Brokers earned about $6.5 billion in commissions from contacts from Zillow Group in 2017, which the company estimated represents about 7.5 percent of the $87 billion total real estate agent commissions paid in the U.S. last year. That’s an increase from about 5 percent of all commissions in 2016.

In an earnings call with investors, Rascoff announced that company will integrate its transaction management platform, dotloop, with its Premier Agent app sometime in the next couple of months.

Dotloop, which Rascoff referred to as a “sleeper hit” for lead conversion, has “doubled usage and tripled revenue since we acquired it” in August 2015 , he said.

With that integration showing agents the relationship between a lead from Zillow and a closed deal,“agents will be able to see ROI on an individualized basis,” potentially prompting them to spend more on advertising, Rascoff added.

Expenses and revenue

Zillow Group’s Q4 expenses clocked in at $443.6 million, up from $224.9 million a year earlier. Expenses for all of 2017 were $1.24 billion, up from $1.04 billion in 2016. Sales and marketing expenses in 2017 accounted for 42 percent of revenue at $448 million. Technology and development costs were 30 percent of revenue at $320 million. General and administrative costs were 20 percent of revenue at $211 million.

Besides Premier Agent, other sources of Zillow Group’s “marketplace revenue,” which totaled $1.007 billion in 2017 (up 29 percent from $778.1 million in 2016) include:

The company ended the fourth quarter with nearly 3,200 employees.

Premier Agent growth

Premier Agent revenue made up 71 percent of Zillow Group’s fourth-quarter revenue and its overall revenue in 2017. Premier Agent revenue per visit rose 1 percent on an annual basis in the fourth quarter, down from 5 percent year-over-year per visit growth in the third quarter.

Of total Premier Agent bookings for the fourth quarter, 63 percent were sales to existing Premier Agents, up from 52 percent in the third quarter. Total sales to Premier Agents who have been customers for more than one year rose 41 percent year over year in Q4.

At the same time, the number of Premier Agent accounts spending more than $5,000 per month grew by 70 percent year-over-year and increased 64 percent on a total dollar basis, the company said.