Open enrollment is Nov. 1 to Dec. 15 and it’s an opportunity for real estate professionals to look at their health insurance and determine if it meets their needs, says Allan Dechert, vice chair of NAR’s Insurance Committee, in the latest Voice for Real Estate news video from NAR.
The video also looks at what’s slowing down efforts to create association health plans for real estate professionals and the IRS’s clarification that meals related to business entertainment remain deductible.
The latest report from Luxury Portfolio International®, Luxury Real Estate: What Matters Most To Today’s Global Elite, shows continued interest in real estate as a wealth builder and deep emotional investment
Chicago, IL – Oct. 16, 2018 (PRNewswire) The value of real estate as a means to building wealth, signifying attainment and improving quality of life is highly relevant to high-net-worth individuals (HNWIs) around the world. The latest report from Luxury Portfolio International®, Luxury Real Estate: What Matters Most To Today’s Global Elite, available for download now at luxuryportfolio.com/whitepaper, shows that 35 percent of HNWIs view real estate as the most obvious indicator of wealth. The research, which includes data from YouGov, shows that this is a powerful indicator globally, with Europeans (44 percent) and buyers in the Middle East (38 percent) each expressing a strong association between wealth and real estate. Among all the individuals surveyed, 38 percent are looking to buy luxury real estate within the next three years.
Also driving this interest in luxury real estate is the strong emotional connection to a home. Globally, 37 percent of HNWIs said that an emotional tie was the top reason they purchased their current primary residence. Only in North America did luxury homeowners state that the lot, location and size of the home was a bigger concern. “Despite this emotional connection, 85 percent of wealthy buyers consider the purchase of real estate a rational choice,” said Stephanie Anton, president of Luxury Portfolio International®. “Real estate signifies success for these buyers, both internally and externally to their peers.”
At 23 percent, the interest in selling within the next three years is smaller, pointing to a continuation of a seller’s market in the high-end, with fewer sellers than buyers expected and potential for inventory challenges to grow or persist in places already struggling with having enough homes to meet interest and demand. The difference between buying and selling is most dramatic in Asia where just 18 percent of luxury consumers are looking to sell vs 68 percent looking to buy. In both the Middle East and Asia, potential buyers overwhelmingly seek out urban locations for their next home.
“We are pleased to see that as we watch wealth grow among the top 10% of consumers globally, so too do we see continued interest in, and appetite for, luxury real estate both as a financial as well as an emotional investment,” stated Anton.
Additional findings from this report:
About Luxury Portfolio International®
Luxury Portfolio International® (www.luxuryportfolio.com) is the luxury home marketing division of Leading Real Estate Companies of the World®, the largest global network of premier locally branded companies dominated by many of the world’s most powerful independent luxury brokerages. Luxury Portfolio International® attracts a global audience of visitors from over 200 countries/territories every month and marketed over 57,000 luxury homes to over three million high-net-worth visitors last year.
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LendingTree study analyzes the savings available by comparing mortgage rates across the country
Charlotte, NC – N.C., Oct. 17, 2018 (PRNewswire) LendingTree®, the nation’s leading online loan marketplace, today released its report on where borrowers can save the most by shopping around for mortgage loans.
As interest rates rise, the amount of money consumers can save by shopping around and comparing offers can change. To help consumers understand how much they can save, LendingTree created a Mortgage Rate Competition Index that measures the basis point spread between high and low APRs offered to users through the LendingTree marketplace. This report uses that index to analyze the rate difference and dollar savings for the 50 largest metropolitan areas in the United States. Analysts review the same rate difference and savings on a national basis in the weekly Mortgage Rate Competition Index.
“If you are shopping for a home in San Francisco, taking the first mortgage offer you receive and not comparing it could cost you nearly $100,000 in interest over the life of your loan,” said Tendayi Kapfidze, Chief Economist at LendingTree. “In Cincinnati, it could cost you nearly $24,000. LendingTree, the nation’s leading online loan marketplace, allows consumers to shop around and compare mortgage offers, potentially saving them thousands of dollars.”
Key findings:
Where purchase borrowers face the largest differences in mortgage rates
Cincinnati
Purchase Mortgage Rate Competition Index: 0.64
With a median home price of $169,100, borrowers here could save $67 in monthly payments, adding up to $798 a year. Lifetime interest savings would be $23,672.
Houston
Purchase Mortgage Rate Competition Index: 0.61
With a median home price of $233,900, borrowers here could save $88 in monthly payments, adding up to $1,053 a year. Lifetime interest savings would be $31,217.
San Antonio
Purchase Mortgage Rate Competition Index: 0.58
With a median home price of $220,700, borrowers here could save $78 in monthly payments, adding up to $941 a year. Lifetime interest savings would be $27,918.
Where purchase borrowers could save the most in lifetime interest expense
San Francisco
Lifetime interest savings: $99,544
An index of 0.51 and median home price of $900,000 adds up to savings of $280 in monthly payments, totaling $3,357 a year.
San Diego
Lifetime interest savings: $75,330
An index of 0.57 and median home price of $607,000 adds up to savings of $212 in monthly payments, totaling $2,540 a year.
Los Angeles
Lifetime interest savings: $72,558
An index of 0.56 and median home price of $595,100 adds up to savings of $204 in monthly payments, totaling $2,447 a year.
Where refinance borrowers face the largest differences in refinance mortgage rates
Bakersfield, Calif.
Refinance Mortgage Rate Competition Index: 0.81
With a median home price of $234,000, borrowers here could save $116 in monthly payments, adding up to $1,389 a year. Lifetime interest savings would be $41,163.
Oklahoma City
Refinance Mortgage Rate Competition Index: 0.72
With a median home price of $158,800, borrowers here could save $70 in monthly payments, adding up to $839 a year. Lifetime interest savings would be $24,893.
Detroit
Refinance Mortgage Rate Competition Index: 0.72
With a median home price of $150,000, borrowers here could save $66 in monthly payments, adding up to $788 a year. Lifetime interest savings would be $23,383.
To view the full report, click here.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation’s leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree proactively compares consumers’ credit accounts against offers on our network, and notifies consumers when there is an opportunity to save money. In short, LendingTree’s purpose is to help simplify financial decisions for life’s meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.
Media Contact:
press@lendingtree.com