Coldwell Banker’s 2015 Home Listing Report proves that in real estate there’s nothing more important than location, location, location.
Released earlier this week, the annual report includes market data from 2,700 real estate markets across the nation by analyzing more than 81,000 similar-sized four-bedroom, two-bathroom homes.
The HLR revealed that half (50) of the top 100 most expensive markets in the United States are in California. Who topped the list? Right in our own backyard, Newport Beach ranked number one where the average listing price of a four-bedroom, two-bathroom home is $2,291,764— seven and a half times the national average and 30 times the cost of a similar home in the country’s most affordable market!
The most extensive home price comparison tool of its kind, Coldwell Banker continues to provide independent agents the resources needed to help stay informed on the latest market trends.
See where your city ranks by downloading the full report at CBInsideOut.com/HLR2015.
If you missed our Kickoff event on November 5th, here is your opportunity to see what you missed! Topics include: "What Style Is" with Architectural Historian Eleanor Schrader; "A&D Update" with Architectural Division Director Bret Parsons; and "What to Tell Your Buyers about Showroom Purchases" with Thomas Lavin.
NRT LLC, the nation’s largest residential real estate brokerage company, has announced that its personal lines insurance entity has been rebranded and will now operate as Castle Edge Insurance Agency.
Originally formed as NRT Insurance Agency in 1996, Castle Edge Insurance Agency is an independent provider of personal lines insurance products and currently does business in 36 states and the District of Columbia.
The Castle Edge name evolved from employee contest entries and stood out for the way it blended the reliability of a traditional insurance brokerage with the innovative instincts of a forward-thinking agency.
“We identified attributes such as strength, trust, service excellence, and product diversity as qualities we’d like our new name to reflect,” said Ryan Gorman, NRT senior vice president of strategic operations. “We also wanted it to be memorable and relatable – a name that would help consumers better understand the agency and the edge we provide.”
The company’s personal lines insurance products include: Homeowners, Renters, Automobile, Condominium, Watercraft, Investment Properties, Flood Umbrella Liability, and Vacant Property.
Castle Edge also launched its CastleEdge.com website, which will continue to evolve with the introduction of useful new features such as online quote requests. The Castle Edge name inspired a logo design with the signature green wedge, a bold, defining element that forms the basis of the graphical look and feel used throughout the agency’s revamped print and digital communications.
“Taken together, these Castle Edge branding components will help elevate the agency’s image and profile, while still holding true to its core values, said Ken Fries, president of Castle Edge Insurance Agency. “The Castle Edge brand name gives our sales representatives a strong identity they can use every day to highlight what we believe is one of our greatest strengths – the edge we provide to our clients through an intelligent, consultative sales approach that leverages more than 23 different insurance carriers to offer the best possible mix of coverage and value for their personal insurance needs.”
Gorman added, “Castle Edge is the kind of company more and more consumers will consider a worthwhile partner in protecting their most valuable assets.”
The CALIFORNIA ASSOCIATION OF REALTORS® is introducing a new free member benefit. The C.A.R. Legal Hotline App connects members to C.A.R. Legal and give them a quicker, more user friendly experience while in the field.
The Legal Hotline App includes information from the C.A.R. website such as the “What’s New” articles, Recent Laws and News from the current and previous year, all of the legal articles, information on new and revised Standard Forms, webinar videos, quick access to zipForm® mobile, direct dialing capabilities: to the Legal Hotline, Customer Service, the Finance Helpline, the Ombudsman Hotline, Outreach Request, and RPA Class Request, as well as quick links to the social media pages . . . LEARN MORE>>
California home sales to increase slightly, while prices post slowest gain in five years
California’s housing market will continue to improve into 2016, but a shortage of homes on the market and a crimp in housing affordability also will persist, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 California Housing Market Forecast.”
The C.A.R. forecast sees an increase in existing home sales of 6.3 percent next year to reach 433,000 units, up from the projected 2015 sales figure of 407,500 homes sold. Sales in 2015 also will be up 6.3 percent from the 383,300 existing, single-family homes sold in 2014.
“Solid job growth and favorable interest rates will drive a strong demand for housing next year,” said C.A.R. President Chris Kutzkey. “However, in regions where inventory is tight, such as the San Francisco Bay Area, sales growth could be limited by stiff market competition and diminishing housing affordability. On the other hand, demand in less expensive areas such as Solano County, the Central Valley, and Riverside/San Bernardino areas will remain strong thanks to solid job growth in warehousing, transportation, logistics, and manufacturing in these areas.”
C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.7 percent in 2016, after a projected gain of 2.4 percent in 2015. With nonfarm job growth of 2.3 percent in California, the state’s unemployment rate should decrease to 5.5 percent in 2016 from 6.3 percent in 2015 and 7.5 percent in 2014.
The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.5 percent but will still remain at historically low levels.
The California median home price is forecast to increase 3.2 percent to $491,300 in 2016, following a projected 6.5 percent increase in 2015 to $476,300. This is the slowest rate of price appreciation in five years.
“The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economic and job growth,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “However, the global economic slowdown, financial market volatility, and the anticipation of higher interest rates are some of the challenges that may have an adverse impact on the market’s momentum next year. Additionally, as we see more sales shift to inland regions of the state, the change in mix of sales will keep increases in the statewide median price tempered.”
C.A.R. has issued a statewide Call for Action asking California REALTORS® to contact their Member of Congress to oppose a proposal to tax mortgages to pay for highways
This provision was included in the Senate version of the long-term Transportation bill. While the U.S. Senate has already passed the bill, the House has not passed its version of the legislation. REALTORS® are asked to call their Congressional Representative to ask that the tax not be included in the House version of the bill.
Please look for an email from C.A.R. with the subject line, “Call for Action.” This has personalized information in it for you to reach your Member of Congress. You can also see the general Call for Action with additional informaton by clicking the link below.
Coldwell Banker Real Estate has announced that it has aligned with Tom Ferry - Your Coach to deliver customized coaching program to Coldwell Banker® affiliated agents.
The Tom Ferry coaching program will be designed to complement and extend the robust offerings of the brand giving agents the opportunity to accelerate their success through voluntary participation in the new program.
Coldwell Banker Residential Brokerage has partnered with Updater to save your clients a ton of time on their moving tasks.
You do a great job placing your clients in their dream homes – but did you know that 74% of clients wish their independent agent offered moving assistance? Updater provides you an easy way to lend them a helping hand!
Updater is a time-saving tool that helps your clients organize and complete their many moving-related tasks, including updating accounts and records, connecting utilities and more. Updater built a unique version of their platform that's branded for Coldwell Banker Residential Brokerage, reminding clients that you're with them every step of the way.
CLICK HERE to DOWNLOAD an Updater "Cheat Sheet" - A guide to explaining Updater.
We have also created a customizable Updater marketing flyer and graphics to share on social media. Login to insideCBNow and from the Intranet Menu click on Concierge > Updater Marketing Material.
Keep an eye out for an email from Updater in the coming weeks to get started!
Note: This change pertains to sales associates only and does not affect employees.