We belong to the largest referral network of affiliated brokers out there--Leading Real Estate Companies of the World. This collection of outstanding independent brokers produces more listings and sales than any of the franchise organizations. At our annual meeting this week, Pam Chute came to present us with three awards for the most sales volume in outgoing referrals and sales production. One of the awards we have actually won for three years in a row.
Sometimes people don't realize that we can help them move around the world as well as around the region. And we're good at it! Sometimes, we even forget to tell those relocating that we can help them anywhere. In fact, there are companies in our region who use us all over the globe to transfer hirees and current employees from one place to another. I thought that by posting this blog entry I could both salute our relocation department and our affiliate Pearce Plus Relocation, as well as ensuring that everyone knows and appreciates our capabilities on a national and international level. Obviously Leading RE does!
Showing posts with label national. Show all posts
Showing posts with label national. Show all posts
Friday, April 27, 2012
Tuesday, November 1, 2011
Why the Rental Market Matters
We have been reading lately about New Haven's stellar rental market--either the lowest or the second-lowest vacancy rate in the country, depending upon your source. Why is this? And how does it relate to other real estate data?
New Haven's extraordinary occupancy rate for apartments has several causes, some of which are unique to New Haven, and some of which apply across markets nationally. New Haven's own reasons have to do, first of all, with the large number of students residing in the region. Students are almost always renters, and graduate students rarely live in university housing. The second driver in New Haven is the nightlife and culture prevalent here, so that young people (and empty nesters) who work in other places in Connecticut will disproportionately choose to rent in New Haven and commute to their jobs.
Around the country, there are certain trends that are helping rental markets to stay strong. Of course, high foreclosure rates will result in more renters, as the people displaced from their houses won't be able to buy right away. Also, the uncertainty of all job security means that many more workers, executives included, leave their families behind and rent in the new city until they are confident that they will stay at the job. That trend is exacerbated by the difficulty transferees are having in selling their homes in the locations they are leaving; until they do, many must rent. Even those who sell are renting in many instances, since they worry that housing prices have not bottomed out, and that this may not be the best time to buy a new home.
All of these factors have combined in Greater New Haven to make rentals scarce and expensive. It also offers an opportunity for investors to buy property and rent it out, and not just the typical apartment building or multi-family house. Single family homes make good rentals also, particularly when you can buy one for a price that allows you to cover costs with rental income. It can even be a good alternative for those who have houses on the market that are not selling. Many people are looking for homes to lease, not just in the center city, and it's a good time to find tenants. This is especially true if you allow pets! As with all types of real estate markets, there are ways to make money in this one.
New Haven's extraordinary occupancy rate for apartments has several causes, some of which are unique to New Haven, and some of which apply across markets nationally. New Haven's own reasons have to do, first of all, with the large number of students residing in the region. Students are almost always renters, and graduate students rarely live in university housing. The second driver in New Haven is the nightlife and culture prevalent here, so that young people (and empty nesters) who work in other places in Connecticut will disproportionately choose to rent in New Haven and commute to their jobs.
Around the country, there are certain trends that are helping rental markets to stay strong. Of course, high foreclosure rates will result in more renters, as the people displaced from their houses won't be able to buy right away. Also, the uncertainty of all job security means that many more workers, executives included, leave their families behind and rent in the new city until they are confident that they will stay at the job. That trend is exacerbated by the difficulty transferees are having in selling their homes in the locations they are leaving; until they do, many must rent. Even those who sell are renting in many instances, since they worry that housing prices have not bottomed out, and that this may not be the best time to buy a new home.
All of these factors have combined in Greater New Haven to make rentals scarce and expensive. It also offers an opportunity for investors to buy property and rent it out, and not just the typical apartment building or multi-family house. Single family homes make good rentals also, particularly when you can buy one for a price that allows you to cover costs with rental income. It can even be a good alternative for those who have houses on the market that are not selling. Many people are looking for homes to lease, not just in the center city, and it's a good time to find tenants. This is especially true if you allow pets! As with all types of real estate markets, there are ways to make money in this one.
Wednesday, May 12, 2010
Independent Realtors
The rise of so many national real estate franchises has led some people to believe that only national companies get business from out -of- towners moving in, and that only national companies can expose your property to a wide range of people. That turns out not to be true.
H. Pearce belongs to Leading Real Estate Companies of the World, an organization of high-quality independent firms. This group sells more real estate than any franchise company. It also has comparable statistics for productivity and earnings.
That shouldn't be surprising news for owners and buyers. After all, is McDonald's the best restaurant in any town? And does your favorite breakfast food get sold through a few franchises, or through a plethora of mom-and-pop eateries?
As with other industries, the trend is clear: Big firms gobble up smaller ones, until there is a perceived need for personal service and distinctive work. At that time, new firms spring up to fill the demand. It's true in banking, retailing, and a host of other fields. We're no different, and we're glad that the evidence bears out the quality and competence of the locally-owned real estate company. Go local--have your dollars stay here!
H. Pearce belongs to Leading Real Estate Companies of the World, an organization of high-quality independent firms. This group sells more real estate than any franchise company. It also has comparable statistics for productivity and earnings.
That shouldn't be surprising news for owners and buyers. After all, is McDonald's the best restaurant in any town? And does your favorite breakfast food get sold through a few franchises, or through a plethora of mom-and-pop eateries?
As with other industries, the trend is clear: Big firms gobble up smaller ones, until there is a perceived need for personal service and distinctive work. At that time, new firms spring up to fill the demand. It's true in banking, retailing, and a host of other fields. We're no different, and we're glad that the evidence bears out the quality and competence of the locally-owned real estate company. Go local--have your dollars stay here!
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