New and Updated in the Library – October 2017

The following References have recently been updated in the Library:

Arbitration & Dispute Resolution

Traditionally, real estate industry disputes rely on negotiation for solutions. If negotiation fails, litigation is often initiated. Mediation involves the skillful intervention of a third-party professional to help resolve disputes that arise between two or more parties.

Arbitration, a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts. The parties to a dispute refer it to one or more persons (the “arbitrators”, “arbiters,” or “arbitral tribunal”), whose decision (the “award”) they agree to be bound. It is a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.

Franchises vs. Independents

Most REALTORS® are likely to be affiliated with an independent, non-franchised company. The decision to join a franchise or an independent firm can be difficult. There are pros and cons to each.

Starting Your Career in Commercial Real Estate

Though both the U.S. and world economies remain in a somewhat precarious state, the commercial real estate market has shown incremental improvements since the economic collapse of the 2000s. Navigating the commercial real estate landscape often requires deft knowledge and skill.

Resource Efficiency Mortgages

The green movement is here to stay, and nowhere is this more apparent than in the housing market.

Vacation, Resort and Second Homes

In 2016, low housing inventory in 2016 impacted housing sales and prices across the nation. As inventory remained constrained, home prices increased.  Also in 2016, the share of buyers who purchased a primary residence rose for the third year to 70 percent from 65 percent. The share of vacation home buyers declined for the third straight year to 12 percent from 16 percent.  The share of investment buyers remained unchanged at 19 percent for the third straight year.  The median vacation and investor home purchase price was higher in 2016 than in 2015. The typical price was $200,000 for vacation buyers, up from $192,000. Investors typically purchased a median-priced property of $155,000, up from $143,500. Thirty-six percent of investors and 29 percent of vacation buyers paid all-cash for their property purchase. When financing their purchase, 45 percent of vacation buyers and 47 percent of investors financed less than 70 percent of their purchase.  The sales estimates are based on responses from nearly 2,099 U.S. adults who purchased a home in the last year.  On this page, you will find information on the activity in the vacation/second home market as well as tips on working with the vacation/second home buyer. You’ll also uncover a variety of resources available from the National Association in addition to updates on the RSPS certification.

Industrial & Warehouse

The outlook for the industrial/warehouse sector continues to brighten, including expected decreases in vacancy rates and projected gains in rental rates. The demand for warehouse space is on the rise and gaining the attention of companies and investors. Read about market data and statistics; innovative ways to market and utilize warehouse space; and insight into the how the legalization of marijuana is making an impact on the warehouse industry.

Effects of Trails and Greenways on Property Values

Examining the effects trails and greenways have on the value of surrounding properties and some possible resources people can use to educate communities about them.

Small House Movement

Does size matter? The current economic climate as well as a desire for a greener lifestyle has driven some Americans to examine how much space they really need. The small home movement is hardly a novel concept—just ask New Yorkers who often spend decades in studio apartments.