Maureen Mengel Blog

Defining the luxury real estate market isn't simple. From Boston to Miami to Los Angeles, the word luxury has a different definition. In some areas, luxury is defined as anything over a million dollars. In pricey parts of Los Angeles single family homes often are listed at $5 million and above. The numbers of sales in 2017 and 2018 YTD in the $5 million and $10 million and above range in Los Angeles County are interesting. Executive Director of Research, Erin Kennelly, at The Agency, the Beverly Hills-based luxury real estate brokerage firm with 20 offices in the U.S, and Mexico crunched the numbers from the MLS and public records. In 2017, 127 single-family homes sold above $10 million. That number jumped to 551 in the $5 million to $10 million range. Condominium sales above $5 million were at 19 and dipped to 5 in the $10 million plus slot. Those condo numbers are small because of less inventory than single-family homes with those hefty price tags. Looking at this year thro...

When Good Weekend searched for Sydney's top street in 1985, it settled on a scenic strip that winds from just off the City 2 Surf route to the Harbour at Vaucluse. Wentworth Road follows the ridge so many of its grand homes higher up have spectacular views and lower down have waterfrontages. Thirty-five years on, this is what life is like on Sydney's top street curated from Real Estate News

A new study found that, based on median incomes, single women can afford only two-thirds as much house as their male counterparts and that the highest earning ethnic group (Asians) can afford more than twice as much house as the lowest earning group (blacks). Women and minorities still not equal when it comes to home affordability curated from Inman

The premier has extended the opportunity to Queensland renters, landlords and real estate agents to give their opinion on the key issues that need to be addressed in potential rental reforms. However, the Real Estate Institue of Queensland has its doubts after two previous reviews of the Residential Tenancies and Rooming Accommodation Act failed to lead to meaningful change. Premier asks for public advice on potential statewide rental reforms curated from Real Estate News

If you've ever fantasized about downgrading your life and living a minimalist existence, Tiny House Resorts in the Catskills of upstate New York, provides the opportunity for a test run. A series of thoughtfully designed little homes sit on 28 acres near a waterfall upstate. Each house has a private patio with outdoor dining table, grill, and fire-pit plus access to a heated resort pool which overlooks the creek. Great for groups looking to overnight in nature without camping or staying in a hotel. Located near South Cairo, the other towns of Saugerties, Hudson, and Kingston are also accessible. How did such an unusual resort come about? The resort was the brainchild of former New Yorker Bob Malkin. Malkin’s early career was in steel and plastic manufacturing. This knowledge base, plus his love for antiques, advertising and over-sized pop art, led to the creation in 1978 of a Soho retail store, featuring over-sized everyday objects rescaled for fun and artistic value. Think Bi...

The real estate industry is facing disruption, and not just on one front. New real estate brokerages are offering an alternative to the way agents do business , tech startups are providing more information and ease of access to consumers and professionals, and companies are helping consumers bypass the need for a real estate agent altogether. Start the conversation, or Read more at Yahoo!. The Future of Real Estate -- With Fewer Agents? curated from Real Estate News

Q: Back in 1958 we purchased our first house in Farmingdale, Long Island, New York, and at that time - and I understand from relatives that it is still the same - the buyer or seller was required to have an attorney. At that time my attorney, John Gillies, was paid 1 percent of the sales price and of course, the real estate office had their percentage. Start the conversation, or Read more at The Daily Republic. All Things Real Estate: Why aren't lawyers required in real estate transactions? curated from Real Estate News

A federal judge on Friday gave the go-ahead to a lawsuit filed by 200 congressional Democrats against President Donald Trump alleging he has violated the Constitution by doing business with foreign governments while in office. The lawsuit is based on the Constitution's emoluments clause, which bars presidents from taking payments from foreign states. Federal judge rules emoluments suit against Trump can proceed curated from Real Estate News

The commercial real estate market is gaining strength with growing rents and lower vacancy rates, and local experts say that trend should continue. In addition, some companies are on the verge of making Las Vegas relocation announcements. Commercial real estate market gains strength curated from Real Estate News

The real estate industry is a space ripe for change and disruption - from the way homes are bought and sold, to how people are paying and who's doing that buying and selling. How mergers, money and machines are reshaping real estate curated from Real Estate News

How closely have you been paying attention to this week in business? Put your memory to the test as we round up some of the biggest and best stories which may have slipped under your radar. Once you've caught up on the headlines, make sure to take our Biz Quiz to test your knowledge of East Anglian and national stories. The BizQuiz: The Dutch question gets answered as Unilever and Britvic prepare to sell up curated from Real Estate News

Most agents aren’t social media gurus, but luckily for you, it doesn’t take a social media guru to run a successful Facebook contest. All it takes is a good giveaway idea, and here are four that are sure to grow your Facebook exposure. 4 Facebook contests that’ll grow your social media following curated from Inman

Sean Dougherty, right, accepts his appointment by delegates to the Larimer County Republican Party to represent District 1 on the Larimer County Board of Commissioners, while Larimer County Republican Party Chairman Bob Morain looks on. Sean Dougherty named new Larimer County commissioner curated from Real Estate News

The global real estate industry is undoubtedly a giant, expected to generate as much as $4.26 trillion worth of revenue by 2025, according to recent projections by Grand View Research . However, with a market that's growing as rapidly and largely as real estate, there's another area of the industry that's often overlooked: data. Start the conversation, or Read more at Insider Monkey. The Real Estate Industry is Massive, But How Do We Handle its Data? curated from Real Estate News

The real estate industry is a space ripe for change and disruption — from the way homes are bought and sold, to how people are paying and who’s doing that buying and selling. With change happening at such a torrid pace, it’s often hard to keep up, so we at Inman have rounded up the five biggest trends that are shaping the industry right now. How mergers, money and machines are reshaping real estate curated from Inman

New Zealanders are unhappy with real estate agents' habit of over-promising and under-delivering on the sales price of their properties. Property market data firm CoreLogic surveyed 900 vendors across the country, asking them about their experience with the salespeople who sold their properties. The 8 ways real estate agents disappoint us curated from Real Estate News

After years of inventory shortages,   rising home prices and  bidding wars , the number of homes on the market may finally be going up, according to Trulia’s latest  Inventory and Price Watch Report . In the third quarter of 2018, total U.S. inventory fell just 2.5 percent year-over-year, the smallest such decline since the beginning of 2015. While there are still fewer homes for sale now than during the same period last year, inventory is actually climbing in certain cities and high-end housing markets. “Home buyers may be pleasantly surprised to see more homes on the market, as housing inventory starts to make a comeback after years of decline,” said  Cheryl Young , Trulia’s senior economist, in a prepared statement. “While this is ultimately good news for frustrated buyers, years of steadily increasing prices mean that those hoping to buy a home will need to spend a bigger share of their income once they find one.” Curtesy of Trulia Six out of 10 cit...

The median monthly rent for a one-bedroom apartment in Seattle is nearly $2,000, while the median rent for the same apartment type in Detroit is $780. So, Detroit is clearly the more affordable market, right? Wrong. A new study by Rent.com  released Friday reveals that determining rent affordability is far more complicated than simply examining rental rates. The median annual income plays a large part in affordability, thus why Seattle, with it’s $2,000 per month median rent, is more affordable than the Motor City. In Detroit, the average worker earns about $22,000 post-tax, which means that housing costs account for a whopping 42 percent of their monthly expenses — 12 percent more than the affordability threshold of 30 percent. Meanwhile, in Seattle, the average worker has a net income of $63,600, which means housing costs account for 38 percent of monthly expenses. That’s still above the affordability threshold, but 4 percent more affordable than Detroit. “The same De...

In a rapidly changing real estate landscape, many agents wish they were telepathic and could read consumers’ minds. But the next best thing might be Zillow’s 2018 Consumer Trends Report , released Thursday. After all, Zillow reported a record 188 million monthly users in its latest earnings call, so it certainly has lots of consumer behavior and preferences from which to draw upon. The 181-page report provides insight into the changing wants and needs of buyers, sellers, renters, and homeowners as they grapple with low inventory, record-high home and rental prices, and steadily rising interest and mortgage rates. Here are five of some of the most interesting facts revealed in the report: 1. Are starter homes a thing of the past? As low inventory continues to be an issue , first-time homebuyers often complain about the lack of affordably-priced starter homes on the market. There may be a new explanation for this: Zillow says that first-time buyers and repeat buyers p...

The Real Estate Council of B.C. has found a North Vancouver agent guilty of professional misconduct after noting that he likely faked a sale offer. photo supplied iStock A longtime North Vancouver real estate agent has been found guilty of professional misconduct and of conduct unbecoming a licensee by a disciplinary panel for the Real Estate Council of B.C. The regulatory body released the decision Sept. North Vancouver Realtor found guilty of unprofessional conduct curated from Real Estate News

Homeowners looking for a reverse mortgage may have to undergo a second appraisal in certain circumstances, thanks to new guidance from the Federal Housing Administration (FHA) . Under the new requirement, homeowners will have to provide a second property appraisal before receiving a Home Equity Conversion Mortgage (HECM), commonly referred to as a reverse mortgage, if the FHA suspects the home’s value of being inflated. The requirement will take effect for cases assigned on or after October 1. “The appraisal validation policy announced today will further reduce risks to FHA’s Mutual Mortgage Insurance Fund and protect the health of the HECM program,” the agency stated in a press release. “The financial soundness of FHA’s reverse mortgage program is contingent on an accurate determination of a property’s value and condition. The property value is used to determine the amount of equity that is available to the borrower and it is also used by FHA to determine...

This fall, we’re launching the Inman Luxury Network, an interactive directory of the best and brightest agents in luxury real estate. It’s specifically designed to connect you to other top-producing agents and generate more referrals for your business .   How can you get in the directory? We’re taking the first class of inductees for the Luxury Network from the A+ attendee list for Luxury Connect . If you’re not registered, sign up today .   What’s included in the directory? The searchable directory will include member vitals with pictures, listings, location and biographical information. It’s not complicated — just a new way to connect the most successful agents in our community to each other.   Where will it live? We’re giving the directory a high-profile, fixed placement on Inman.com. We’re also going to promote it across all of our digital channels and at our events.   Are there other benefits to being in the directory? Yes! We’ll use the list...

So you think you’ve found the right house — that dream property you’ve been waiting for.  You got that fluttery feeling when you stepped inside the doors, and it seems to check all the boxes. But is it really the right one? Should you put down an offer and start booking those movers? How can you be sure either way? Naturally, you want to be careful when buying a home. After all, it’s a big investment. You’re paying hundreds of thousands of dollars, and you’ll likely spend years, maybe even decades, living on the property. Though there’s no hard-and-fast formula for determining if a house is "T he One," there are some questions to ask when buying or even considering a house. Think you might have found the right property? Then sit down with your co-buyer, your agent and, eventually, your inspector, and ask these important questions before moving further. Questions to Ask When Buying a House You’ll definitely want to consult a pro along the way, but before you get to...

For sale signs like this one could be popping up in Dallas-Fort Worth starting Nov. 1, when Phoenix-based Offerpad moves into the region. For sale signs like this one could be popping up in Dallas-Fort Worth starting Nov. 1, when Phoenix-based Offerpad moves into the region. Want to buy or sell a home without a real estate agent? Here's another option in Texas curated from Real Estate News

Segal is looking forward to expanding his pre-market listings website, the Private View market listings platform, nationwide under the new Compass ownership Indie brokerages are facing a ‘very, very difficult time’ says Pacific Union SoCal President curated from Inman

Between business growth and the changing market, there is much to consider in real estate right now — but we’ve been focused on the wrong things. Here’s the real way to survive market shifts and industry changes. Why next-level service is the only way to survive a shift curated from Inman

Buyers' market Hong-Kong represents the second largest group of international real-estate buyers in Whistler after the United States. An odd thing happened to one of local realtor Max Thornhill's Hong Kong-based clients in Whistler this summer. Hong Kong continues to drive Whistler's luxury real estate market curated from Real Estate News

Ixact Contact, a CRM and marketing solution, has been tweaking its new interface for months and has now launched it along with additional features, such as social media marketing and annual goal tracking. Ixact Contact wants to manage your social media now curated from Inman

US pending home sales fell in August curated from Real Estate News

Emphasys real estate software allows brokers to oversee all aspects of deal flow and commission payouts, and it leverages integrations with dotloop, DocuSign, SkySlope and QuickBooks. Is Emphasys the back-office solution your brokerage has been waiting for? curated from Inman

Pending home sales slipped in August as fewer Americans signed contracts to purchase a house, the fourth decline in the past five months. The National Association of Realtors said Thursday that its pending home sales index fell 1.8 per cent last month to 104.2. This measure of contract signings has tumbled 2.3 per cent in the past year, with the sharpest annual decline of 11.2 per cent in the West where homes generally cost more. US pending home sales fell in August curated from Real Estate News

A new national poll, commissioned by flat-fee brokerage Purplebricks, found that real estate agents and journalists are among the least trustworthy professions in American consumers’ minds.  How trustworthy do your clients think you are? curated from Inman

Opendoor, a start-up that flips homes, attracted attention in June when it announced it had raised $325 million from a long list of venture capitalists. The financing valued the four-year-old company at more than $2 billion. The Hot Property That's Next on Tech's Agenda: Real Estate curated from Real Estate News

On the heels of its combined $800M in funding for Opendoor and Compass, SoftBank sees opportunities to build successful, profitable, disruptive new businesses that leverage technology across the entire real estate supply chain.. Why SoftBank is betting big on Opendoor, Compass, and real estate tech curated from Inman

Leaders of the Council of Multiple Listing Services (CMLS) urged their members to be part of the change in the industry as CMLS kicked off its annual conference Thursday. Article image credited to Andrea V. Brambila How unproductive agents are bringing real estate down curated from Inman

Two MLS consolidation efforts were announced Tuesday, one in New York and another in Illinois. Article image credited to stockelements / Shutterstock.com ‘An extremely positive snowball effect’: Multiple listing services consolidate in New York, Illinois curated from Inman

Stocks gave up an early gain and closed lower after the Federal Reserve made its third interest rate hike this year. Banks and real estate companies fell the most Wednesday. Markets Right Now: Stocks give up early gain and end lower curated from Real Estate News

To answer that we need to look at the bigger picture of the sector and assess the bubble concern from a strategic standpoint, forecast how this issue will unfold and identify how best to deal with it. Looking at the bigger picture of the sector, there are seven key points that are worth highlighting. Egypt's Real Estate Market: Looking at the Bigger Picture curated from Real Estate News

Watch Byron Lazine and Nicole White talk about BRIX Real Estate’s Simple Offer program that allows sellers to check out Opendoor’s investor bids right from the brokerage’s website. The Real Word: How the industry is showing its value to consumers curated from Inman

Keller Williams has been quietly testing an iBuyer program for more than a year in an undisclosed market. Darryl Frost, a spokesperson for Keller Williams told Inman the company has closed nearly 100 transactions, but it’s not ready to go to market and is still in the ideation stage. Keller Williams gets into iBuying curated from Inman

Pending home sales, in which a contract is signed but the sale has not yet closed, dropped 2.3 percent in August — the eighth consecutive month of annualized declines, according to the latest National Association of Realtors  Pending Home Sales Index , released Thursday. Low inventory and rising home prices propelled the latest decline, pulling the Pending Homes Sales Index down to 104.2, from 106.2 in July, said Lawrence Yun, chief economist with the National Association of Realtors. The index is based on a national sample of approximately 20 percent of all existing-home sales transactions, which tend to mirror monthly sales-contract activity. “Contract signings also fell backward again last month, as declines in the West negatively impacted overall activity,” said Yun in a prepared statement. “The greatest decline occurred in the West region where prices have shot up significantly, which clearly indicates that affordability is hindering buyers and those affordabil...

Mortgage rates have continued their upward march to the highest level since April 2011, according to the latest  Primary Mortgage Market Survey  from  Freddie Mac . The rate for a 30-year fixed-rate mortgage averaged 4.72 percent for the week of September 27 — only 0.6 percentage points from the recent 4.72 percent high seen on April 28, 2011.   Last week , the rate was at  4.65 percent. Last year at this time, it averaged only  3.83   p ercent. The 15-year fixed-rate mortgage averaged 4.16 percent, up from 4.11 percent last week and 3.13 percent last year. A five-year treasury-indexed hybrid adjustable mortgage is at 3.97 percent, compared to 3.92 percent last week and 3.20 percent last year. Freddie Mac Chief Economist Sam Khater says consumer confidence is at an all-time high, thanks to a strong economy and healthy jobs growth. Those factors, he says, has caused  the Fed to hike short-term rates by another 0.25 percent , wh...

Sotheby’s International Realty is working to expand its footprint in China with the addition of a new affiliate in the nation’s largest city, Shanghai. Sotheby’s International Realty expands in China with new office curated from Inman

A young couple bought a Long Island home only to discover that the surrounding neighborhood was ground zero for the dangerous MS-13 gang. Article image credited to Redfin / Getty Images Sale of infamous MS-13 house raises real estate disclosure issues curated from Inman

When you buy a home, its care and keeping need to become a priority. One way to ensure that its systems and appliances are taken care of is by investing in a home warranty. However, while warranties can be the key to easy home maintenance for some, they're not right for everyone. If you've been thinking about getting one for your home, read this first. We've listed out the pros and cons to help you decide if getting a home warranty is the right choice for you. What is a home warranty? First, it's important to note that a home warranty is not the same thing as  home insurance , nor does it replace it. The two are separate entities. For its part, home insurance is meant to protect you financially in the event of an unforeseen damage to your home in the event of something like a fire or windstorm. A home warranty, on the other hand, is a policy that protects your home's major appliances and systems as they age. It's there to save you money when your water hea...