Sullivan Team

Entrepreneur Magazine Names RE/MAX No. 1 Real Estate Franchise Fifth Year in a Row

Entrepreneur Magazine Names RE/MAX No. 1 Real Estate Franchise Fifth Year in a Row

RE/MAX, LLC has been named the No. 1 Real Estate Franchise in the annual Franchise 500 ranking by Entrepreneur magazine for the fifth year in a row, the company recently announced. The ranking marks the 14th time in 18 years the company has been listed as the top franchisor in the real estate category. RE/MAX was also named to the top 10 of all franchises included in the ranking.

“Many of our franchisees gravitated to the RE/MAX model because our focus has always been on the needs of the agent,” says Chris Pflueger, vice president of Business Development at RE/MAX, LLC. “We provide our broker/owners with the leading-edge tools, on-demand education, global brand recognition and more than 40 years of industry-leading experience to attract and recruit the top performing real estate agents in their markets.”

Highlights of the Franchise 500 ranking include:

 
  • RE/MAX ranked the No. 1 real estate franchise
  • RE/MAX ranked No. 10 overall, up from No. 21 in 2016 and No. 75 in 2015
  • Closest RE/MAX competitors were HomeVestors of America at No. 52 and Keller Williams Realty at No. 77
  • The top 10 overall standings are No. 1 7-11, No. 2 McDonald’s, No. 3 Dunkin’ Donuts, 4 The UPS Store, No. 5 Jimmy John’s Gourmet Sandwiches, No. 6 Dairy Queen, No. 6 Ace Hardware, No. 8 Wingstop Restaurants, No. 9 Sport Clips, and No. 10 RE/MAX

RE/MAX was also recently ranked the leading real estate franchise for the eighth consecutive year in the annual Franchise Times Top 200+ listing.

For more information, please visit www.remax.com.

For the latest real estate news and trends, bookmark RISMedia.com.

https://rismedia.com/2017/01/11/entrepreneur-magazine-names-remax-no-1-real-estate-franchise-fifth-year-row/#close

 

 

I Your House Has Not Sold, Check The Price

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

 If your house hasn’t sold, it is probably because of the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house.

 

Bottom Line

The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit the pricing conversation.

The KCM Crewhttps://goo.gl/xthxbf

 

Newspaper Ads Woes Accelerate

Newspaper Ads Woes Accelerate

http://www.wsj.com/articles/plummeting-newspaper-ad-revenue-sparks-new-wave-of-changes-1476955801

 

With global newspaper print advertising on pace for worst decline since recession, publishers cut costs and restructure

Global spending on newspaper print ads is expected to decline 8.7% to $52.6 billion in 2016. Photo: Alan Berner/The Seattle Times/Associated Press

Newspapers are suffering an accelerating drop in print advertising, a market that already was under stress, forcing some publishers to consider significant cost cuts and dramatic changes to their print and digital products. 

Global spending on newspaper print ads is expected to decline 8.7% to $52.6 billion in 2016, according to estimates from GroupM, the ad-buying firm owned by WPP PLC. That would be the biggest drop since the recession, when world-wide spending plummeted 13.7% in 2009.

That decline is hitting every major publisher, increasing pressure on them to boost digital-revenue streams even faster to make up for lost revenue and, in some cases, even reconsider the format of their print products and the types of content they publish.

Many newspapers have trimmed costs to cope with the worse-than-expected revenue decline. The New York Times Co. and Wall Street Journal-owner News Corp, likely have further head-count reductions on the way, and the Guardian and the U.K.’s Daily Mail recently eliminated jobs. Analysts such as Jefferies & Co. have pared back their third-quarter estimates for publishers including the Times and Gannett Co.

“We operate in a time of rapidly changing market conditions, especially in the world of print advertising,” Gerard Baker, editor in chief of The Wall Street Journal, wrote Wednesday in a memo to employees. “These are days of accelerating change in the newspaper business.”

In light of the steep downturn, the Journal this week announced a coming revamp of its print editions that will include the consolidation of sections and other cost reductions, moves designed to make the print newspaper more sustainable for the long haul and help accelerate the newsroom’s digital transformation. Meanwhile, the Times has been working on a strategy to significantly boost digital revenue by 2020, including shifting more resources into digital initiatives and looking at ways to revamp things such as its Metro section.

 
 
 
 

The Cost of Renting Vs Buying A Home

Interesting infographic depicting today's reality of Buying Vs Renting a home:  https://goo.gl/1ilFmw

 

How Supply & Demand Impacts the Real Estate Market

Some Highlights:

  • The concept of Supply & Demand is a simple one. The best time to sell something is when supply of that item is low & demand for that item is high!
  • Anything under a 6-month supply is a Seller’s Market!
  • There has not been a 6-months inventory supply since August 2012!
  • Buyer Demand continues to outpace Seller Supply!

http://goo.gl/cIXaoU

NAR Summer Housing Report July, 2016

Slaying Home Buying Myths

Mortgage Rates drop to 3.49% as UK leaves European Union

A Benefit of Brexit - United Kingdom leaving the European Union - Amazingly low 30 year mortgage rates. http://sullivanteam.com/pages/news

 

 

May Existing Home Sales at 9 Year High

  

Regional Snapshot

Here’s how existing-home sales fared across the country in May:

  • Northeast: existing-home sales rose 4.1 percent to an annual rate of 770,000, and are now 11.6 percent above a year ago. Median price: $268,600, which is 0.1 percent below May 2015.
  • Midwest: existing-home sales fell 6.5 percent to an annual rate of 1.3 million in May but are still 3.2 percent higher than a year ago. Median price: $190,000, up 4.8 percent from a year ago.
  • South: existing-home sales rose 4.6 percent to an annual rate of 2.28 million in May and are now 6.5 percent above a year ago. Median price: $211,500, up 5.9 percent from a year ago.
  • West: existing-home sales climbed 5.4 percent to an annual rate of 1.18 million in May but are still 1.7 percent lower than a year ago. Median price: $346,900, which is 7.7 percent above a year ago.

  • Housing inventories: Total housing inventory at the end of May increased 1.4 percent month-over-month to 2.15 million existing homes for sale. That is 5.7 percent lower than a year ago. At the current sales pace, unsold inventory represents a 4.7-month supply.

    "Existing inventory remains subdued throughout much of the country and continues to lag even last year's deficient amount," says Yun. "While new-home construction has thankfully crept higher so far this year, there's still a glaring need for even more, to help alleviate the supply pressures that are severely limiting choices and pushing prices out of reach for plenty of prospective first-time buyers."

  • All-cash sales: Buyers paying in cash accounted for 22 percent of all transactions in May, down from 24 percent a year ago. Individual investors account for the biggest bulk of all-cash sales. Investors purchased 13 percent of homes in May, down from 14 percent a year ago.

  • Distressed sale Foreclosures and short sales dropped to 6 percent of all sales last month, down from 10 percent a year ago. Foreclosures comprised 5 percent of sales in May while short sales represented 1 percent of sales. On average, foreclosures sold for a discount of 12 percent below market value while short sales were discounted 11 percent.

  • Days on the market: Properties spent less time on the market in May, selling, on average, after 32 days. That's below the average time on market a year ago (40 days) and the shortest time since NAR began tracking such data in May 2011. Forty-nine percent of homes sold in May were on the market for less than a month, also the highest percentage since May 2011. Short sales were on the market the longest, at a median of 103 days in May, while foreclosures sold in 51 days. Non-distressed homes took 30 days.
    Realtor.com Article

Millennials Choose Parents’ Homes Over Romance

Mom and dad must make cool roommates. Young adults between the ages of 18 to 34 are more likely to live with a parent than to get married or move in with a romantic partner, according to a newly released analysis of Census data by the Pew Research Center. 

This is the first time in more than 130 years in which young adults have chosen their parents’ homes over forming their own households, the study notes. In 2014, 32.1 percent of young adults were living with a parent. On the other hand, slightly fewer—31.6 percent—were living in a household formed upon a “romantic relationship,” either with a spouse or a partner, according to Pew’s analysis.

What do you think? The National Association of Home Builders recently issued a report, “Missing Young Adult Households,” which attributes the lack of demand for single-family homes to millennials opting to live with their parents longer.

The trend for young adults to live with their parents longer grew more pronounced after the Great Recession in 2008. Fewer job opportunities forced some young adults to move back home. Also, young professionals are delaying marriages longer (with one in four young adults who may never marry), and the trend of young adults living together has “substantially fallen since 1990,” according to researchers.

Young men are living at the family home at the greatest numbers. About 35 percent of young adult men were living with a parent compared to 29 percent of women. About 14 percent of 18 to 34 year olds live alone, the study shows.

Source: “Living with Parents Is Most Common Arrangement for Young Adults,” Chicago Tribune (May 25, 2016)