Technology and the digital age are evolving the real estate industry by leaps and bounds, but it seems like certain old-school traditions remain sturdily in place. According to a recent Inman study, fewer than 1 in 10 homebuyers and sellers found their agents through a website in 2017. Astoundingly, that stat is similar to the numbers of a decade ago. The Inman survey, in collaboration with The National Association of Realtors® (NAR) found that buyers and sellers were far more likely to find agents through recommendations and referrals: friends, neighbors …

Reverse mortgages are among the most misunderstood processes in real estate; your clients should be sure to understand its pros and cons before making any final decisions. Essentially, a reverse mortgage allows homeowners over age 62 to sell their home without having to leave it. Typically, you sell your home to a reverse-mortgage lender for a choice of one sum, an income stream or a credit line. All the while, you are allowed to remain in your home until you die, move on (for example, to a nursing home), or …

Warehouses have never been considered a “sexy” sector of the real estate business — until now. Bloomberg reports that, thanks to the popularity of supersized, high-tech warehouses (at least 200,000 square feet with 28-foot ceilings), these properties have surged in value. A study by Colliers International Group observed 14 North American markets and found that these type of warehouses sold at an average capitalization rate of 5.8 percent in 2017. Cap rates fall as asset values rise: office space in the U.S. had a higher cap rate of 6.7 percent …

Micro-unit apartments pack a wallop: a kitchen, bathroom, closets, and other typical features fused into a unit of about 200 to 400 square feet.  What keeps tenants from losing their minds: usually high ceilings and large windows, to create an illusion of space. What saves most tenants from a terminal case of claustrophobia: common rooms, where tenants — especially younger ones who are really taking to this lifestyle — can relax and interact with other residents. Other pluses are usually location, location, location, and reasonable rents. Micro units are smaller …

CNBC reports that mall owners are increasingly turning to unconventional tenants to fill some of the estimated 200 million square feet of retail space that is closed or that is expected to close. It’s becoming increasingly understood that the fall of malls can be attributed to two major factors: the rise of online shopping and the overbuilding of malls by developers. Forrester Research expects online shopping to account for 17 percent of all retail sales by 2022. A generational change — where Millennials are not as interested in shopping malls …

After the McMansion era, perhaps it’s an idea whose time has come. The tiny house movement (also known as the “small house movement”) has been adapted by advocates of living a simpler life in smaller homes. The concept behind the idea: more financial freedom, greener living, lower utility bills, and shared community experiences. It’s a sharp shift away to the postwar American consumer idea of “bigger is better.” Tiny homes come in all kinds of shapes, types and even sizes. They can be rented or owned, on wheels or set …

2018 could be a record year for store closings, according to a study released by the CoStar group and cited by CNBC. The report, which was released in April 2018, found that at least 94 million square feet of retail space will be closed this year. That’s competing with the disheartening news from 2017, which saw a record 105 million square feet close. The recent liquidation of Toys “R” Us and the Bon Ton Stores led the way, with other stores set to close soon. Another high-profile closing store is …

The trend of coworking in office spaces began as a high concept in 2005, and since then has spread like wildfire. The Millennial generation workforce has adopted it as an accepted way of life — and corporate America is responding in a big way in a rush to recruit young talent. It seems the days of the corporate center, cubicle and corner office are vanishing forever. The coworking concept consists of membership-driven office services, consisting of independent workers (often entrepreneurs, independent contractors, freelancers) and businesses. All of these members pay …

Strengthened by new home construction and storm-related damage repairs, U.S. roofing contractors are now in their fourth consecutive year of improved profitability and double-digit increases in sales, according to data from Sageworks, a financial information company. It’s no surprise that professional roofers are in demand. Roofs are often overlooked (excuse the pun) when it comes to showing a house. In many cases, preventative maintenance and regular inspection doesn’t even occur to the owner until there is something wrong. However, roofs are designed to age over time and must be replaced …

The National Flood Insurance Program (NFIP) must be reauthorized by November 30, 2018. Periodically, Congress must renew the NFIP’s statutory authority to operate. The President signed legislation on July 31, 2018 to extend the program’s authorization to November 30, 2018. Usually, Congress has always honored the NFIP, particularly the contracts that are already in place with NFIP policyholders. What if the reauthorization fails or lapses? FEMA (the Federal Emergency Management Agency) would still have the authority to ensure the payment of valid claims with available funds. However, FEMA would have …