array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97398" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(12) "Section_Lead" ["item_type"]=> string(4) "item" ["zone"]=> string(10) "Lead Story" } ["Item"]=> array(7) { ["id"]=> string(5) "97398" ["subject"]=> string(57) "10 Percent and Falling: Housing Inventory Keeps Shrinking" ["authors"]=> string(18) "By Suzanne De Vita" ["data"]=> string(3227) "Buyers are being challenged by diminished inventory and mounting prices, especially in areas with crisis-level supply, according to the December Zillow® Real Estate Market Report. Inventory is down 10 percent from last year—a three-year trend—and, in the buzziest markets, as much as 40 percent. 
 
Construction costs are exacerbating the issue, says Aaron Terrazas, senior economist at Zillow, who anticipates building will be concentrated in outlying suburbs this year.
 
"On the supply side, the market is starving for new homes, but it won't be easy for builders struggling with high and rising land, labor and lumber costs," Terrazas says. "Aging millennials and young families may be able to find more affordable new homes for sale this year, but they'll most likely be in further-flung suburbs with more grueling commutes to urban job centers."
 
Few homes are moving prices up—6.5 percent in the past year, to a median $206,300, according to the Zillow Home Value Index (ZHVI). Appreciation has been highest in San Jose, Calif., at 21.2 percent (a median $1,171,800), causing inventory to shrink 40.6 percent. In the largest metros:
 

 
Markedly, a mere 16.7 percent of analysts cited in Zillow's 2017 Q4 Home Price Expectations Survey forecast home-building will pick up this year. In December, ground-breaking on new homes underwhelmed; builders, however, are confident in their prospects this year, according to the National Association of Home Builders (NAHB). 
 
Changes to the expected could come when the Tax Cuts and Jobs Act goes into effect, says Terrazas.
 
"Tight inventory fueled by a tight labor market and low interest rates propelled home values to record heights in 2017, but the outlook is now much less certain," Terrazas says. "Tax reform will put more money in the pocket of the typical buyer, but will limit some housing-specific deductions. Overall, this should increase demand for the most affordable homes and ease competition somewhat in the priciest market segments."
 
MORE: Tax Reform: Here's What Could Impact Homeowners Most
 
For more information, please visit www.zillow.com
 
Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com." ["preview"]=> string(517) "Buyers are being challenged by diminished inventory and mounting prices, especially in areas with crisis-level supply, according to the December Zillow® Real Estate Market Report. Inventory is down 10 percent from last year—a three-year trend—and, in the buzziest markets, as much as 40 percent. Construction costs" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(1) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(3) "835" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(4) "Ad_1" ["item_type"]=> string(2) "ad" ["zone"]=> string(4) "Ad 1" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97393" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(16) "Featured Story 1" } ["Item"]=> array(7) { ["id"]=> string(5) "97393" ["subject"]=> string(27) "CFPB Asks for Input on Role" ["authors"]=> string(18) "By Suzanne De Vita" ["data"]=> string(2559) "Amid an ongoing power struggle, the Consumer Financial Protection Bureau (CFPB) is asking for input on its role. 
 
The agency aims to determine if the "the Bureau is fulfilling its proper and appropriate functions to best protect consumers," according to a release. In the coming weeks, it will issue Requests for Information (RFIs) in the Federal Register, open to feedback and suggestions. The RFIs will center on "enforcement," "rulemaking" and "supervision," as well as "education activities" and "market monitoring," the release states. The first RFI will focus on civil investigative demands (CIDs), a kind of subpoena.
 
"In this new year, and under new leadership, it is natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau's statutory mandate," said Mick Mulvaney, acting director of the CFPB. "Moving forward, the Bureau will consistently seek out constructive feedback and welcome ideas for improvement. Much can be done to facilitate greater consumer choice and efficient markets, while vigorously enforcing consumer financial law in a way that guarantees due process. I look forward to receiving public comments in response to this call for evidence and encourage all interested parties to participate."
 
The agency was at the center of controversy when its first director, Richard Cordray, resigned in November. Cordray appointed Leandra English, CFPB chief of staff, to the director post, but was met with opposition from President Trump, who named Mulvaney—also director of the Office of Management and Budget—as successor. The courts have favored Mulvaney and Trump in two rulings since. 
 
On Wednesday, Mulvaney asked that there be no funding given to the organization. In a letter to Federal Reserve Chair Janet Yellen, Mulvaney wrote: "This letter is to inform you that for the second quarter of fiscal year 2018, the bureau is requesting $0."
 
Stay tuned to RISMedia for more developments.
 
Suzanne De Vita is RISMedia's online news editor. Email her your real estate news ideas at sdevita@rismedia.com.
" ["preview"]=> string(332) "
Amid an ongoing power struggle, the Consumer Financial Protection Bureau (CFPB) is asking for input on its role. The agency aims to determine if the "the Bureau is fulfilling its proper and" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97389" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_03" ["item_type"]=> string(4) "item" ["zone"]=> string(16) "Featured Story 2" } ["Item"]=> array(7) { ["id"]=> string(5) "97389" ["subject"]=> string(53) "Social Skills: Responding to Negative Feedback Online" ["authors"]=> string(16) "By Paige Tepping" ["data"]=> string(5105) "Editor's Note: This was originally published on RISMedia's blog, Housecall. See what else is cookin' now at blog.rismedia.com: Whether you've been in the real estate business for a long time—or are a newbie just getting your feet wet—chances are you've received some sort of negative feedback on social media (or other areas of the internet) related to you personally or the way you do business.
 
Unfortunately, ignoring the negativity is no longer an option, as prospective clients are turning to the internet in record numbers to do their homework before choosing a real estate professional to represent them through the home-buying or -selling process. As with everything you do, it’s important to handle these situations professionally so that you don’t tarnish the online reputation you’ve worked so hard to build.
 
Here are five simple tips to keep in mind to successfully handle the negativity…and solidify your place as the go-to real estate expert in your local market:
 
Respond quickly. When it comes to responding to negative reviews or comments that may have found their way onto online review sites, your Facebook page, latest Instagram or blog post (or anywhere else), time is of the essence. Even if the problem can't be rectified immediately—or an answer given right away—it's critical that you at least acknowledge the issue and assure that you're looking into it.
 
Craft a response that's both thoughtful and professional. While you may feel entitled to speak your mind and respond in a tone similar to the original message, it's important to distance yourself from the situation before saying anything. This will allow you to clear your head and determine the most thoughtful and professional manner in which to reply. The last thing you want to do is get into a heated argument on a public forum for all your past (and future) clients to see.
 
Continue the conversation on the same platform or website the client used. Don't change the flow of the conversation by responding to the original review or comment in a different location. In addition to including an apology, and letting the individual know that the level of service they received is not consistent with the way you do business, it's also a good idea to thank the individual for their feedback. This will go a long way in showing that you value feedback from any and all clients—good, bad or indifferent.
 
If you made a mistake, own up to it. If you dropped the ball at any given time while working with a particular client, or botched the entire transaction, the best thing you can do is own up to your mistake. There's no sense in trying to cover up what you did—as people will be able to see right through it—so take the high road and admit to your wrongdoing.
 
Don't delete the negativity. Deleting negative comments and/or reviews may seem like the right (and only) answer when it comes to keeping your reputation intact; however, this could end up working against you somewhere down the line. Working with buyers and sellers on a daily basis isn't going to come without some challenges, and letting clients and prospects see the good and the bad is key to showing that you’re able to work through any and all situations with a level head.
 
In the end, maintaining your online reputation is all about being prepared. Be proactive and take the time today to put a plan in place so that you have something to refer back to should you need it in the future. Part of that plan should include being aware of what’s being said about you, your company, service and brand across all corners of the internet. If you haven't yet, set up Google Alerts—an online tool that allows you to track specific keywords and phrases—in order to get a handle on conversations you may not be privy to otherwise.
 
Find more social media strategies, tips and trends in RISMedia's Social Skills series.
 
Paige Tepping is RISMedia's managing editor. Email her your real estate news ideas at paige@rismedia.com.
" ["preview"]=> string(306) "
Whether you've been in the real estate business for a long time—or are a newbie just getting your feet wet—chances are you've received some sort of negative" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97383" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_04" ["item_type"]=> string(4) "item" ["zone"]=> string(16) "Featured Story 3" } ["Item"]=> array(7) { ["id"]=> string(5) "97383" ["subject"]=> string(39) "Home Remodeling Spending to Stay Strong" ["authors"]=> string(0) "" ["data"]=> string(1264) "Home remodeling spending is expected to stay strong in 2018, up 7.5 percent from last year, according to the latest Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. 
 
"Steady gains in the broader economy, and in home sales and prices, are supporting growing demand for home improvements," said Chris Herbert, managing director of the Joint Center for Housing Studies, in a statement. "We expect the remodeling market will also get a boost this year from ongoing restoration efforts in many areas of the country impacted by last year's record-setting natural disasters."

"Despite continuing challenges of low for-sale housing inventories and contractor labor availability, 2018 could post the strongest gains for home remodeling in more than a decade," said Abbe will, research associate in the Remodeling Futures Program at the Joint Center for Housing Studies, in the statement. "Annual growth rates have not exceeded 6.8 percent since early 2007, before the Great Recession hit."" ["preview"]=> string(304) "
Home remodeling spending is expected to stay strong in 2018, up 7.5 percent from last year, according to the latest Leading Indicator of Remodeling Activity" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97381" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(11) "Section_04a" ["item_type"]=> string(4) "item" ["zone"]=> string(16) "Featured Story 4" } ["Item"]=> array(7) { ["id"]=> string(5) "97381" ["subject"]=> string(60) "Realsuite Releases Consumer Insight, Research in White Paper" ["authors"]=> string(0) "" ["data"]=> string(3360) "RealsuiteSM has released consumer insights and research in a white paper, "Shift Happens: How to Capture, Communicate and Close in Today's 'On Demand World,'" the Move, Inc. brand and business solutions platform recently announced. The research underscores the importance of finding the right balance between personalization and automation in serving today's clients. To download the white paper, visit www.realsuite.io/research
 
The white paper puts today's best practices under the microscope, revealing new perspective around buyer and seller expectations at each stage in the journey. It also uncovers stark realities about some of the most common practices within the customer lifecycle, making the case that business-as-usual in today's market is anything but. 
 
The proprietary insight combines the findings from two research initiatives conducted in 2017 among nationally representative samples of consumers who purchased or sold a home, were currently searching for a new home, or submitted an inquiry on realtor.com®, together with data and case studies from business, industry and academia. 
 
Among the insights: "This is a critical time for real estate professionals," says Luke Glass, executive vice president, Industry Platforms for Move, Inc. "The emergence of technology and automation onto the scene has greatly improved the real estate process in some ways, yet these findings reveal that many agents are failing to leverage technology or to use it properly at key points along the journey, to the detriment of the agent-client relationship." 
 
At the same time, the research also underscores that the agent's personal knowledge and touch remains a vital and irreplaceable part of the process. Together, the insights present the case for incorporating technology with personalized service, in order to meet the bar of consumer expectation and deliver optimal value.
 
"Finding the right balance between automation and personalization is critical to an agent's ability to deliver an exceptional experience, yield more closed business and bring more repeat and referral business into the pipeline," Glass says. The "Realsuite platform offers a single solution to help them with this balance and empower them to spend more time with their clients, doing what they do best."
 
For more information, please visit www.realsuite.io
" ["preview"]=> string(247) "
RealsuiteSM has released consumer insights and research in a white paper, "Shift Happens: How to Capture" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97378" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_05" ["item_type"]=> string(4) "item" ["zone"]=> string(16) "Home Spun Wisdom" } ["Item"]=> array(7) { ["id"]=> string(5) "97378" ["subject"]=> string(42) "All You Need to Know About Garage Security" ["authors"]=> string(13) "By John Voket" ["data"]=> string(2113) "According to SafeBee.com, recent reports and social media posts are advising homeowners to use a zip tie to secure their door release mechanisms on the emergency latch present on automatic garage door openers. Although the advice is meant to help reduce burglaries, SafeBee.com says the practice can put homeowners in danger.

Using a zip tie to "lock" this mechanism basically removes this safety feature from the door operator system, putting homeowners and others at risk, as the safety function may not work when needed.

Although reports recommend the addition of the zip tie to avoid garage break-ins, those reports leave out the important safety function that may be disabled by doing so.

To enhance the security of your home while helping to ensure the safe operation of your garage door, SafeBee.com shares these tips from UL and the Door and Access Systems Manufacturer's Association (DASMA): " ["preview"]=> string(465) "According to SafeBee.com, recent reports and social media posts are advising homeowners to use a zip tie to secure their door release mechanisms on the emergency latch present on automatic garage door openers. Although the advice is meant to help reduce burglaries, SafeBee.com says the practice" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97329" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_06" ["item_type"]=> string(4) "item" ["zone"]=> string(17) "More News Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "97329" ["subject"]=> string(32) "Win This Year One Week at a Time" ["authors"]=> string(15) "By Terri Murphy" ["data"]=> string(4168) "Think about the goals you set one year ago and where you are today. Is this where you imagined you would be? Did your life and career unfold the way you wrote your business plan? If you worked hard and had some good luck along the way, things may have gone as expected or better than planned. But for many of us, our plans may have taken a detour, or completely derailed due to something unexpected.
 
Every year we're told to create a business plan in order to make more money and reach our various goals. But more often than not, that plan is based on every single day of the upcoming year working perfectly. So, what happens when it doesn't?
 
By the time January ends, we may already find ourselves behind due to real life hitting us with some unplanned events. We rationalize that with 11 months to correct our path, we have plenty of time to catch up. But that doesn't always happen, and at the end of the year, we find we've fallen short of our goals.
 
If you view an annualized year, you may be setting yourself up for failure before you even start. In "The 12 Week Year," authors Brian P. Moran and Michael Lennington share their tips for making this year different by focusing on executing one week at a time.
 
Here are a few steps to help you navigate one week at a time:
 
1. Think 12 weeks instead of 12 months. In "The 12 Week Year," Moran and Lennington address the challenge of why some people get more accomplished than others. They share how developing consistent execution by closing the gap of goals 365 days out to a more flexible and scalable 12-week system is the key to more productivity, and, ultimately, success.
 
2. Every day of every week counts. Change your focus to look at shorter timeframes to inspect your progress (or lack of it). To successfully accomplish this, you must begin by readjusting your daily activities. A Daily Success Habits Tracker is one of the best tools to help you do this. Using this tracker each day to record a daily target for a specific number of calls, handwritten notes and other dollar-productive activities will help you develop incremental success habits every day.
 
3. Track your time and eliminate fake work. Learn to focus on activities that get you in front of more people with solutions to meet their needs. For example, in your market, is there a specific age demographic that may be ready to trade down from big homes to single-level living? Target them with information, living solutions and options. And don't just rely on new magic platforms or super systems. Pick up the phone for an hour every day and connect with people who need your services to see measurable results.
 
4. Deadlines create urgency. Did you know that many sales agents do their best work at the end of the year? That's because people tend to focus on the finish line and pour on the power to make their numbers once it's in sight. Change your focus from a year-end finish line to a week-end finish line to see compounded results by this time next year.
 
Step out and make this year your best ever with weekly wins to cash in on big results. Visit https://ph197.infusionsoft.com/app/page/ris-jan2018 for a free copy of the Daily Success Habits Tracker.
 
Terri Murphy is a communication engagement specialist, author, speaker and coach. She is the author/co-author of five books, and founder of MurphyOnRealEstate.com. Contact her at TerriMurphy.com, MurphyOnRealEstate.com or Terri@TerriMurphy.com. For more information, please visit www.workmansuccesssystems.com." ["preview"]=> string(459) "Think about the goals you set one year ago and where you are today. Is this where you imagined you would be? Did your life and career unfold the way you wrote your business plan? If you worked hard and had some good luck along the way, things may have gone as expected or better than planned. But for many of us" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "97300" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_06" ["item_type"]=> string(4) "item" ["zone"]=> string(17) "More News Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "97300" ["subject"]=> string(36) "Home Laundry: To Vent or Not to Vent" ["authors"]=> string(13) "By John Voket" ["data"]=> string(2180) "I once believed it was a forgone conclusion that when adding certain laundry appliances to a home, it would mean installing exhaust ducting and cutting a hole to the outside for venting.

However, a recent report from Michele Weaver at Design Basics, LLC highlighted a growing trend in ventless dryers that can be easily located and relocated within a home because vent piping, exhaust holes and venting to the outside are not needed.

The mechanics of a home dryer can cause energy and safety problems if lint becomes trapped in the vent. This demands more energy use and frequent cleaning. Weaver believes one of the major trends consumers will be seeing in these key appliances will be the further refinement of ductless technology.

She says vent hoses snaking through a home's framing have become a leading cause of the 2,900 (average) home clothes dryer fires reported annually, according to the U.S. Fire Administration.

J.D. Wollf at HomeSteady.com recently explained that a ventless or condenser dryer— also known as a Heat Pump Clothes Dryer (HPCD)—doesn't need a vent because instead of expelling the hot, moist air, a heat exchanger removes the moisture from the hot air and "recycles" it, passing it back through the drying clothes. The excess water is then drained away or caught in a container that is later emptied.

The trade-off for energy savings and safety is a requirement for slightly more maintenance than vented dryers. Wollf says the condensing unit must be cleaned about once a month to remove any lint.

A study at the Florida Solar Energy Center at the University of Central Florida states that while an unvented HPCD uses less electricity than a standard resistance dryer, it was found to release significantly more heat than a conventional dryer during operation, demanding additional cooling energy that may compromise overall savings.

However, the study points out that with a current retail cost of $948, there is only a small premium on the HPCD dryers, making them cost-effective when chosen at time of replacement." ["preview"]=> string(462) "I once believed it was a forgone conclusion that when adding certain laundry appliances to a home, it would mean installing exhaust ducting and cutting a hole to the outside for venting. However, a recent report from Michele Weaver at Design Basics, LLC highlighted a growing trend in ventless dryers" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "84727" ["newsletter_id"]=> string(5) "26077" ["section_id"]=> string(10) "Section_11" ["item_type"]=> string(4) "item" ["zone"]=> string(6) "Footer" } ["Item"]=> array(7) { ["id"]=> string(5) "84727" ["subject"]=> string(0) "" ["authors"]=> string(0) "" ["data"]=> string(0) "" ["preview"]=> string(356) "RISMedia, publisher of Real Estate magazine, is the U.S. residential real estate industry's leading source for news, information, licensed content and events. To contact RISMedia please e-mail realestatemagazinefeedback@rismedia.com.

Copyright ® 2017. All Rights Reserved." ["link"]=> string(0) "" ["type"]=> string(4) "item" } } RISMedia's Daily e-News - Monday, January 22, 2018
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topStories Monday, January 22, 2018
10 Percent and Falling: Housing Inventory Keeps Shrinking
Buyers are being challenged by diminished inventory and mounting prices, especially in areas with crisis-level supply, according to the December Zillow® Real Estate Market Report. Inventory is down 10 percent from last year—a three-year trend—and, in the buzziest markets, as much as 40 percent. Construction costs...
Read More >
   
articles
CFPB Asks for Input on Role

Amid an ongoing power struggle, the Consumer Financial Protection Bureau (CFPB) is asking for input on its role. The agency aims to determine if the "the Bureau is fulfilling its proper and...
READ MORE >
Social Skills: Responding to Negative Feedback Online

Whether you've been in the real estate business for a long time—or are a newbie just getting your feet wet—chances are you've received some sort of negative...
READ MORE >
Home Remodeling Spending to Stay Strong

Home remodeling spending is expected to stay strong in 2018, up 7.5 percent from last year, according to the latest Leading Indicator of Remodeling Activity...
READ MORE >
Realsuite Releases Consumer Insight, Research in White Paper

RealsuiteSM has released consumer insights and research in a white paper, "Shift Happens: How to Capture...
READ MORE >
Homespun
All You Need to Know About Garage Security
According to SafeBee.com, recent reports and social media posts are advising homeowners to use a zip tie to secure their door release mechanisms on the emergency latch present on automatic garage door openers. Although the advice is meant to help reduce burglaries, SafeBee.com says the practice...
READ MORE >
articles
Win This Year One Week at a Time

Home Laundry: To Vent or Not to Vent

 
 
  RISMedia, publisher of Real Estate magazine, is the U.S. residential real estate industry's leading source for news, information, licensed content and events. To contact RISMedia please e-mail realestatemagazinefeedback@rismedia.com.

Copyright ® 2017. All Rights Reserved.
 
   

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