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Newly Built Homes Are Not Fairing Well This Fall

Sales of new homes plunged to a more than 2 1/2-year low in October, as all four major regions of the U.S. posted sharp declines, the Commerce Department reported Wednesday. Sales of newly built, single-family homes dropped to a seasonally adjusted annual rate of 544,000 units in October—the lowest pace since March 2016.

PLAN ON ATTENDING THE INAUGURATION OF GUSTY GULAS 2019 BAR PRESIDENT
It's Not 2008 All Over Again!

While the housing market has picked up a lot of steam, especially here in the Birmingham Metro, the situation is not the same. In addition, to rising interest rates resulting in a leveling off of activity, homeowners are not in a negative equity position. According to a new report, just released, by ATTOM Data Solutions more than 1-in-4 homes with a mortgage have at least 50% equity. The average homeowner in Alabama has 15.8% equity in their home.
(Note: states in blue have high levels of home equity.)

Can Birmingham Get Any Better?

Are you working with an out of area or out of state client? Here are a few facts from the Wealth Network you should know:

Monday Rewind

This Friday, REALTORS® and BAR staff gathered in Irondale to participate in the annual "Home for the Holidays' Habitat for Humanity build. This year two homes were being erected for needy families. Our commitment to home ownership goes beyond advocacy and sales; it's a true mission of the organization. In addition to volunteers, BAR makes a corporate contribution to Habitat.
Air BNB Getting into the Builder/ Developer Market

The company has announced plans for a new venture that will design and build homes, called “Backyard.” Airbnb co-founder Joe Gebbia describes it as “an endeavor to design and prototype new ways of building and sharing homes.”

BAR Local AREAA Chapter Inaugural Meeting, Monday December 3, at 11:30am in BAR Room 206

Members interested in joining the Asian Real Estate Association of America local BAR chapter are invited to attend. Contact: Felicia@birminghamrealtors.com
Help Your Fellow REALTORS® in California

You can help your fellow REALTORS in California- click here to donate to the REALTORS Relief Fund.
GET READY FOR THE LAUNCH OF OUR NEW ONLINE STORE- January 1st, 2019.
Make your RPAC donation before the end of the year-
This Week's Happenings
Special Thanks to Our
. Executive Affiliate Partner
POST LICENSE- Part 2
Thursday, December 6 (9am) & Friday December 7 (6pm).

Monday, December 3, 2018 3 CE Hours
C2EX is the latest self study education course for REALTORS® just go to c2ex.realtor to start the course
Take the Online Course by clicking here...
Thanks for your support!
Kim Mangham-Barelare
2018 BAR Presiden

t
TECH TIP THE WEEK!

A tip that bears repeating. I have told this story a gazillion times to new agents in orientation but sometimes even the most seasoned REALTOR® needs a reminder. Time after time the statistic never varies much, this year it's 73%; yes, 73% of your past clients would use you again or refer you to friends if they could only remember your name. Data suggests they forget your name within one year, UNLESS you keep in front of them. Hubspot, a leading inbound marketing service provider offers a free set of email templates for you to use as a client reminder or to farm for new clients.


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