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When we initiated our search for someone to head our Reverse Mortgage division, we knew that we needed to focus on finding someone that understood the reverse mortgage loan process and Home Equity Conversion Mortgages (HECM) completely, and that possessed the ability to communicate with clear and accurate information so to correct the misconceptions and falsities that have haunted this product in the past. When we found Veronique Shapiro, we knew our search was over.
During her professional life, Veronique has worked with mature adults in various capacities, but always in a position to enhance their lives in some way. Her compassion and dedication toward seniors lends itself to establishing trust and instant rapport with her clients. Unlike many in her area of expertise, Veronique welcomes face to face meetings rather than conversations over the phone, she feels this is an important step in understanding her clients’ needs and allows them to know her on a much more personal level.
Veronique truly believes in the product she specializes in and loves knowing that every time she closes on a Reverse Mortgage, she has assisted her clients by improving their financial situation and ultimately freeing up funds that can be used to enjoy their retirement and achieve continued independence.
Outside of the office, Veronique enjoys spending time with her Husband and Son, coming from a large family Veronique cherishes every moment with the people she is closest to, and loves nothing more than watching her son play sports. She is known for her affinity towards seniors both at work and in her free time. She is actively involved with the Alzheimer’s Association and Making Strides Against Breast Cancer of St. Lucie County.
If you are interested in learning more about the benefits of a reverse Mortgage and Home Equity Conversion Mortgages (HECM) for yourself or possibly a family member, give Veronique a call and schedule a meeting. You will be glad you did.
More Information about a Reverse Mortgage and a Home Equity Conversion Mortgage (HECM)
When we initiated our search for someone to head our Reverse Mortgage division, we knew that we needed to focus on finding someone that understood the reverse mortgage loan process and Home Equity Conversion Mortgages (HECM) completely, and that possessed the ability to communicate with clear and accurate information so to correct the misconceptions and falsities that have haunted this product in the past. When we found Veronique Shapiro, we knew our search was over.
During her professional life, Veronique has worked with mature adults in various capacities, but always in a position to enhance their lives in some way. Her compassion and dedication toward seniors lends itself to establishing trust and instant rapport with her clients. Unlike many in her area of expertise, Veronique welcomes face to face meetings rather than conversations over the phone, she feels this is an important step in understanding her clients’ needs and allows them to know her on a much more personal level.
Veronique truly believes in the product she specializes in and loves knowing that every time she closes on a Reverse Mortgage, she has assisted her clients by improving their financial situation and ultimately freeing up funds that can be used to enjoy their retirement and achieve continued independence.
Outside of the office, Veronique enjoys spending time with her Husband and Son, coming from a large family Veronique cherishes every moment with the people she is closest to, and loves nothing more than watching her son play sports. She is known for her affinity towards seniors both at work and in her free time. She is actively involved with the Alzheimer’s Association and Making Strides Against Breast Cancer of St. Lucie County.
If you are interested in learning more about the benefits of a reverse Mortgage and Home Equity Conversion Mortgages (HECM) for yourself or possibly a family member, give Veronique a call and schedule a meeting. You will be glad you did.
More Information about a Reverse Mortgage and a Home Equity Conversion Mortgage (HECM)
Date:Saturday October 16, 2021 through Saturday October 30, 2021.
Time: Times Vary
Location: Church of Christ
Address: 3306 20th Street Vero Beach, FL 32960
Price: free, Family Fun Days- $7/child
Category: Fall Festivals & Halloween
Join us for games, a corn pit, kiddie corral, photo opportunities, and more! Family Fun Days are October 23 and 30. Enjoy all the Patch activities along with hayrides, inflatables, face painting, and delicious food. Hours are M-F 3pm-7pm, Sat 10am-7pm, Sun 12pm-5pm
Date:Friday October 29, 2021 through Saturday October 30, 2021.
Time: Times Vary
Location: The Barn Theatre
Address: 2400 SE Ocean Blvd, Stuart, Fl
Price: $25; Goody play bags are $5
Category: Entertainment
It’s time for our traditional TIME WARP and the zany characters of the cult film classic Rocky Horror Picture Show. See it on the Barn’s big screen and participate with our LIVE SHADOW CAST as they play out the roles of the major characters of the film. You are encouraged to dress up in your Halloween costumes. As it is every two years, this show will be Halloween blast. Tix are only $25 and play bags containing assorted goodies to be used during the performance are only $5. For tickets, call the box office at 772-287-4884 or www.barn-theatre.com. Help make this a successful fundraiser for the Barn Theatre, a non-profit community theater and recipient of the mARTies Recognition Award.
Show times are Friday, Oct 29 at 7PM and Saturday, Oct 30 at 7PM & 11:45PM.
Address: 201 NE Prima Vista Blvd, Port Saint Lucie, FL 34983
Price: FREE
Category: Film / Movie
Come join us for another exciting installment of United Against Poverty’s Films in the Field series, sponsored by Port St. Lucie National Little League!
This is a FREE EVENT! Trunk or Treating begins at 7pm, with the film starting at 8pm! Come in costume!
Date:Friday October 29, 2021 through Sunday October 31, 2021.
Time: Times Vary
Location: MIDFLORIDA Credit Union Event Center
Address: 9221 SE Event Center Pl, Port St. Lucie , FL, 34952
Price: Free
Category: Kids / Family
There is a chill in the air, you know what that means … Fall Fun Fest!
Celebrate the return of autumn with this three-day event that is jam-packed with live music, a carnival, food vendors and our Street of Treats trick-or-treating event. Free and for all ages.Enjoy live music!
Location: The Children’s Museum of the Treasure Coast
Address: 1707 NE Indian River Drive, Jensen Beach, FL, 34957
Category: Kids / Family
Join The Children’s Museum’s for a fun evening at our Trick-or-Treat Stroll on October 31 at 2:00-5:00p.m! Tickets will be priced at $3 for non-members and Members are FREE.
Enjoy Trick-or-Treat stations at all our exhibits and throughout the museum! This event will also feature face painting, costume contests, food trucks, and of course some Spook-tacular decorations! We encourage you to dress up in your best costume, but it is not required. There will be no play inside the museum during the event. Due to COVID-19, face masks are strongly recommended but not required for this event.
Port St. Lucie Botanical Gardens Date: Sunday, October 31, 2021 Time: 4pm to 7pm Address: 2410 SE Westmoreland Blvd., Port St. Lucie, FL 34952
It’s that time again kids…put on your costume, come to The Gardens, and join in the Halloween fun. Trick or Treat in the secure and serene Port St. Lucie Botanical Gardens. Join our ghosts, ghouls & goblins in their search for goodies, candies and more. Have fun as you take a BOOtanical journey through our Halloween Forest… if you are brave enough!. The is a free event and open to Children up to 13 years old and their families. Children MUST be accompanied by an adult. No Drop-offs. Come early as entry usually gets closed to further cars shortly after 6pm.
Home prices and mortgage rates are both climbing. But that isn’t spooking potential home buyers, with the housing market remaining lively. Housing starts and existing-home sales (Opens in new tab.) remain higher compared to a year ago.
While some sectors of the economy are stabilizing, the housing market continues to boom, which is translating to great news for the broader economy and stock market, CNN reports.
A hot housing market often trickles throughout the economy, from home builders and contractors to appliance makers and furniture companies.
“Residential is still pretty hot,” Mark Sheahan, CEO of Graco, a paint sprayer manufacturer, said on an earnings call last Thursday. “Remodeling activity is good. Housing starts are good. I don’t see any real negatives in the future. No storm clouds on the horizon, I would say, from our viewpoint.”
Even as mortgage rates move up from their sub-3% lows this summer, homebuying remains elevated. The National Association of REALTORS® reported that existing-home sales rose by 7% in September over August. “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year,” Lawrence Yun, NAR’s chief economist, said in response to sales numbers released last week. The 30-year fixed-rate mortgage averaged 2.90% in September, but rates are rising (Opens in new tab.). The 30-year fixed-rate mortgage averaged 3.09% last week, according to Freddie Mac.
Jeremy Barnum, chief financial officer at JPMorgan Chase, said on an earnings call recently that he’s not worried that rising mortgage rates will slow demand for purchases and new home loans. “The impact of … higher rates shouldn’t be a source of major concern for the housing market,” Barnum told CNN Business.
While the inventory of for-sale homes is down 13% year-to-year, NAR Economist Yun credits a boost in supply for the increase, and buyers’ fears of rising interest rates.
Existing-home sales rebounded in September after waning in August, according to the National Association of Realtors® (NAR). Each of the four major U.S. regions tracked in the study increased on a month-over-month basis. Year-over-year, one region held steady while three others reported a decline in sales.
Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – rose 7.0% from August to a seasonally adjusted annual rate of 6.29 million in September. However, sales decreased 2.3% from a year ago (6.44 million in September 2020).
“Some improvement in supply during prior months helped nudge up sales in September,” says Lawrence Yun, NAR’s chief economist. “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
Total housing inventory at the end of September was 1.27 million units, down 0.8% from August and down 13.0% from one year ago (1.46 million). Unsold inventory sits at a 2.4-month supply at the present sales pace, down 7.7% from August and down from 2.7 months in September 2020.
The median existing-home price for all housing types in September was $352,800, up 13.3% from September 2020 ($311,500), and prices rose in each of the four regions in the study. It’s the 115th straight month of year-over-year price increases.
“As mortgage forbearance programs end, and as homebuilders ramp up production – despite the supply-chain material issues – we are likely to see more homes on the market as soon as 2022,” says Yun.
Properties typically remained on the market for 17 days in September, unchanged from August and down from 21 days in September 2020: 86% of September homes sold were on the market for less than a month.
First-time buyers accounted for 28% of sales in September, down from 29% in August and 31% one year earlier.
“First-time buyers are hit particularly hard by the historically high home prices, as they largely do not have the savings required to buy a home or equity to offset such a purchase,” says Yun.
Individual investors or second-home buyers purchased 13% of homes in September, down from 15% in August but up from 12% in September 2020. All-cash sales accounted for 23% of transactions in September, up from 22% in August and 18% in September 2020.
Distressed sales – foreclosures and short sales – represented less than 1% of sales in September, which was unchanged both month-to-month and year-to-year.
According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.90 in September, up from 2.84% in August. The average commitment rate across all of 2020 was 3.11%.
Single-family and condo/co-op sales: Single-family home sales decreased to a seasonally adjusted annual rate of 5.59 million in September, up 7.7% from 5.19 million in August but down 3.1% from one year ago. The median existing single-family home price was $359,700 in September, up 13.8% from September 2020.
Existing condominium and co-op sales were at a seasonally adjusted annual rate of 700,000 units in September, up 1.4% from 690,000 in August and up 4.5% from one year ago. The median existing condo price was $297,900 in September, an annual increase of 9.3%.
Regional breakdown: Existing-home sales in the Northeast grew 5.5% in September, for an annual rate of 770,000, an 8.3% decrease from September 2020. The median price in the was $387,200, up 9.2% from one year ago.
Existing-home sales in the Midwest rose 5.1% to an annual rate of 1,440,000 in September, a 2.7% drop from one year earlier. The median price in the Midwest was $265,300, a 9.1% increase from September 2020.
Existing-home sales in the South jumped 8.6% in September, for an annual rate of 2,770,000 that’s unchanged year-to-year. The median price in the South was $307,500, a 14.8% rise from one year ago.
Existing-home sales in the West climbed 6.5% at an annual rate of 1,310,000 in September, down 3.0% from one year ago. The median price in the West was $506,300, up 8.3% from September 2020.
Florida Realtors®’ data: Median prices up 18.3% for single-family homes to $355,000 year-to-year; up 17.2% to $255,000 for condos. Single-family home sales down 1.3% year-over-year; condo sales up 4.9%. However, Sept. 2020 saw a huge sales surge because the pandemic shifted transactions into summer and fall, says Chief Economist O’Connor.
Florida’s housing market reported higher median prices, a rise in all-cash sales and constrained inventory levels in September compared to a year ago, according to Florida Realtors® latest housing data.
“The September data shows that while median prices are well above their year-ago levels for both single-family and condo-townhouse properties, the rate of price growth month-to-month has slowed down quite a bit over the past few months,” says 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. “Of course, demand and a lack of inventory continue to put rising pressure on home prices. If mortgage rates start to increase more in the coming months, as many analysts predict, that could ease the intense demand we’ve been seeing.”
The statewide median sales price for single-family existing homes in September was $355,000, up 18.3% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $255,000, up 17.2% over September 2020. The median is the midpoint; half the homes sold for more, half for less.
Closed sales of single-family homes statewide last month totaled 28,302, down 1.3% year-over-year, while existing condo-townhouse sales totaled 11,845, up 4.9% over September 2020. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
“However, a year ago in September, we were in the midst of a huge surge in sales resulting, in part, from the pandemic shifting transactions that would otherwise have occurred during spring, into the late summer and fall,” says Florida Realtors Chief Economist Dr. Brad O’Connor. “If we instead compare this September’s sales counts to those two years ago from September 2019, closed sales of single-family homes were up by over 20%, and closed sales of condos and townhouses were up by 31.5%. And so, relative to pre-pandemic levels, the Florida resale housing market is still performing exceptionally.”
In a continuing trend, the share of closed sales that were all-cash purchases rose last month compared to the previous year. In September, single-family existing home sales paid in all cash increased by 38.5% year-over-year, while all-cash sales of condo-townhouse units rose by 22.9%.
On the supply side of the market, new listings and inventory (active listings) remained restricted last month, O’Connor says.
“New listings of single-family homes only increased by 2.2% year-over-year in September, the lowest increase since February 2021,” he notes. “New listings of condos and townhomes, meanwhile, declined on a year-over-year basis for the first time since January, down by 7.3%. This slowdown in new listings relative to the pace of sales has resulted in our levels of inventory stalling out. While it’s good news that inventory isn’t falling again, that scenario isn’t entirely out of the cards in the coming months. In the longer run, the only way this shortage can be addressed is by building more new homes.”
Single-family existing homes continued at a very low 1.3-months’ supply in September, while condo-townhouse inventory was at a 1.7-months’ supply.
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.90% in September 2021, a slight uptick from the 2.89% averaged during the same month a year earlier.
Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in St. Lucie County. The reports compare year-over-year data for September. Here are statistics on single family homes.
“St. Lucie County kicked off the fall season with a home buying frenzy in September. Homes are flying off the MLS after an astonishing rate of only 9 median days on market. Everyone is getting in on the action as the median sale price continues climb. We saw an increase of 27.6 percent year over year to $330,000 for single family homes,” said Karen Johnson, President of Broward, Palm Beaches & St. Lucie Realtors®.
Median sale price is our preferred summary statistic for price activity, because unlike average sale price, median sale price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area.
“Adding to the excitement of the St. Lucie County housing market are the historically low interest rates. With the trend of low interest rates, climbing sale prices, and stiff competition to contract, buyers are working against the clock to buy in all the excitement. The sky is the limit for the Treasure Coast with buyers continuing to move to the area as new infrastructure and construction opportunities arise. If you’re thinking of buying or selling, contact a local Realtor® for expert advice on how to maneuver in this growing market,” continues Johnson.
Time to contract is a measure of the length of the home selling process calculated for sales which closed during the month. Time to contract measures the number of days between the initial listing for a property and the signing of the contract which eventually led to the closing of the sale.
Date:Friday October 22, 2021 through Thursday February 24, 2022.
Time: 10:00 am – 5:00 pm
Location: Elliott Museum
Address: 825 NE Ocean Blvd.
Price: Regular museum admission
Category: Arts / Exhibits
In the 1950s, several African American self-taught artists from the Treasure Coast began painting Floridas vivid landscapes. Coined as the Highwaymen, they sold their art out of their car trunks as they traveled the highways, which led to their nickname. Highwaymen paintings now hang in the Smithsonian, and several Highwaymen artists are represented in the Florida Artists Hall of Fame. Today, very few of the original 26 artists remain but fortunately, many of their paintings, which are now sought after by collectors worldwide, still do. More than 70 of their paintings will be showcased at The Elliott Museum in this special exhibit.
Address: Public Works Facility, 450 SW Thornhill Drive, Port St. Lucie, FL, 34984
Category: Community
This event makes it easy for Port St. Lucie residents (ISs required) to get rid of their unwanted household chemicals and hazardous waste. Hand over these materials to the experts for proper disposal, free of charge.
The Annual Garden Club of Fort Pierces Mega Plant Sale is back and better than ever! The sale will feature an indoor flea market and outdoor plant shop. Plan on joining us for this once a year sale! The Mega Sale takes place at the Garden Center club house in beautiful Glidden Park located at the corner of South 10th Street and Georgia Avenue. It is on Saturday, October 23rd and opens at 8 am. Most plants are priced under $10. This is a great way for you to spruce up your gardens this year with locally grown plants. All proceeds will benefit Fort Pierce community projects. See our Facebook page for more information.
Address: 6001 N Highway A1A, Indian River Shores, FL 32963
Category: Fall Festivals & Halloween
Join H.A.L.O. and Indian River Shores Public Safety for H.A.L.O. Howls on Sunday, October 24th from 11:00 am to 2:00 pm! At 6001Hwy A1A, Vero Beach, FL 32963.
Head to the Firehouse to get your fright on in the spooky Haunted House! There will be a costume contest for children and our furry friends with prizes and fun games.
Select Artisans will be selling goods and you can satisfy your taste buds with the best BBQ on the Treasure Coast, Smoked on the Water!
Date:Saturday October 16, 2021 through Saturday October 30, 2021.
Time: Times Vary
Location: Church of Christ
Address: 3306 20th Street Vero Beach, FL 32960
Price: free, Family Fun Days- $7/child
Category: Fall Festivals & Halloween
Join us for games, a corn pit, kiddie corral, photo opportunities, and more! Family Fun Days are October 23 and 30. Enjoy all the Patch activities along with hayrides, inflatables, face painting, and delicious food. Hours are M-F 3pm-7pm, Sat 10am-7pm, Sun 12pm-5pm
The REALTORS® Relief Foundation at 20: REALTORS® on the ground helping to make their communities whole.
Nashville, Tenn., March 1, 2020, 12:01 a.m.: “My phone emergency alert went off. It was dead silent outside. I turned on the TV to hear, ‘If you’re in East Nashville, you’re in danger.’ Then the TV went dead.
“I grabbed my son out of bed, screamed for my daughter, and lay on top of them in an internal hallway just as the tornado hit. ‘I have you.’ ‘I have you.’ ‘I have you,’ I kept saying to my kids. I could hear the walls moving, glass breaking, nails pulling from [boards], and the sudden boom of wind. Then it was over. We were there in the pitch dark with rain coming in. We lay low until morning and realized the devastation.”
By 6 a.m., Anna Altic, a broker with real estate company Parks, and her two children, Finn, now 14, and Annie, now 17, learned that parts of their roof were gone, their two cars were totaled, the carport and shed had disappeared, and every power line as far she could see had snapped, along with many of the tree-thick utility poles.
Among the first people to arrive to help the neighborhood clean up debris: REALTORS®. The first funds she saw—within about a week—were from REALTORS®, too.
Altic, AHWD, EPRO, learned about grants available to victims of natural disasters—via the REALTORS® Relief Foundation—through her local association president, who called to check on her before daylight. She received a combined $2,000 from the RRF (disbursed by the Tennessee and the Greater Nashville associations), a much-needed short-term lifeline.
“It was a full-time job dealing with the insurers because there were different adjusters for the house and each of the cars, and they were all in different time zones,” Altic says. Her insurer considered the home habitable despite the damage and loss of electricity, which meant it wouldn’t fund a rental or hotel. To boot, it was weeks before she saw any insurance money.
“When you’re self-employed, you feel like an island sometimes,” Altic says. “I had this rough thing happen, and people who don’t have anything to gain from helping me are the first to jump in. I can’t wait to pay it forward.”
Fortifying the Future
The REALTORS® Relief Foundation has been paying it forward to disaster victims for 20 years, ever since the horrific attacks of 9/11. Over two decades, it has disbursed $33 million to help 17,000 families in 40 states and territories cope with the devastation of displacement and loss after a natural disaster. None of the money collected is used for administrative costs; those are absorbed by NAR to ensure 100% of donations make it to victims.
“When you go through something like this, you’re making so many decisions, dealing with so much information,” says RRF recipient Kim Wittman of Lawrence, Kan. “The last thing you have time to worry about where the money is coming from. Having the cash flow was a relief.”
NAR
Despite this success, “we haven’t done a good job of letting our members know the foundation exists and exactly what it does,” says Mike Ford, RRF board president and a practitioner with Coldwell Banker Heritage Homes in West Memphis, Ark. “It’s the National Association of REALTORS®’ best-kept secret.”
The foundation is now in the midst of a campaign to raise $8.5 million—the same amount NAR raised and disbursed after 9/11. The eventual goal: Enable the 501(c)(3) to operate in perpetuity without relying significantly on real-time fundraising.
“We want the foundation to be less reactive [to disasters] and more proactive,” says Dave Legaz, a broker with Keller Williams Realty Landmark in Flushing, N.Y., and 2021 RRF campaign chair. Legaz, who is also serving this year as president of the New York State Association of REALTORS®, is a retired New York City Police Department sergeant who lost his partner during 9/11.
The campaign, called Hope Rising, launched June 28, 2021, and continues through 2021. In August, NAR and its subsidiaries—Second Century Ventures, SentriLock LLC, REALTORS® Information Network, Center for REALTOR® Development, and Realtors Property Resource®—contributed $1.25 million, the largest donation in the foundation’s history. Then, at a virtual commemorative event on Sept. 10, NAR President Charlie Oppler challenged all members to help the foundation reach its $8.5 million goal. The event took the campaign past the $7.2 million mark, 86% of the goal. (See the major donor list.)
The foundation’s response to disaster is remarkably swift. State and local associations work directly with victims and can apply for RRF funding as soon as a national, state, or local official declares a state of emergency. Those with their own nonprofit foundations handle much of the process; others partner with NAR for services like accounting and disbursement. In all cases, the RRF board approves disaster relief grant applications put forth by associations.
Grant amounts depend on the severity of the disaster. If 20 homes are affected, the total grant might be $20,000, about $1,000 per family. After a large-scale event like a hurricane, grants can total several million dollars.
“We want the money to go as far as possible but also to have impact,” says RRF Board Vice President Leigh Brown. “$100 to someone in crisis doesn’t go anywhere. But $1,000 gives them a moment to process what comes next and get some necessaries covered like rent or mortgage.”
Relief often comes within days. Greg Larson and his wife left their Bismarck, N.D., home on a raft in March 2011 during what became a 93-day flood after sudden snow melt overburdened Missouri River dams. Larson’s total out-of-pocket repair costs came to about $90,000, and he was displaced for 18 months.
“We didn’t hear yes or no from the National Flood Insurance Program until August or September,” says Larson, GRI, an agent with Century 21 Morrison Realty. “But within seven days of being out of our home, we got a $1,000 check from the RRF. We got no other aid because the NFIP deemed the event prolonged water damage, not flood damage. That [$1,000] was cash to get us through the hard part, like the upfront expense of finding a place.”
The nine RRF board members take the urgency of their task seriously. “I can’t tell you how many times people have cleared their calendars [to expedite grants],” says Brown. “Board members’ hearts are in the outcomes, not in accolades.”
NAR staff provides the board with a package of information, including applications, photos, news reports, and verifications, ahead of their meetings. “By the time the RRF board sees the request, we don’t have to do any legwork,” Brown says.
RRF funds have occasionally had a worldwide impact, including support for a Habitat for Humanity project after the 2004 Indian Ocean tsunami. But the board now draws the line at international disasters because “we don’t have unlimited funds,” Brown says. “We have to focus where we have measurable impact. Still, we’re not going to say, ‘That’s how we’ve always done it.’ NAR and the RRF revisit their governance and structure [as needed]. That’s what I love about us.”
The First Day
On the morning of Sept. 11, 2001, NAR President Richard Mendenhall, of Columbia, Mo., was recovering from a double hernia operation. As he watched the Al Qaeda terrorist attacks unfold on TV, his military training as a Green Beret in Vietnam kicked in, and he circled the wagons. After making sure his leadership team and NAR staff were OK, he called an emergency meeting with his team—Martin Edwards Jr. of Memphis, Tenn., Pat Kaplan of Portland, Ore., and Cathy Whatley of Jacksonville, Fla. Many people might lose their homes due to loss of income: Was there anything NAR could do?
By the next day, the association had a plan to help victims’ families stay in their home with the caveat, Mendenhall insisted, “that not a penny go to promotions or administrative costs.” NAR teed up the giving with $1 million, then secured another $1 million from Fannie Mae. State and local associations and brokerages stepped in too. Mendenhall, who’s now an honorary RRF campaign co-chair along with his original team, even recalls a $3.50 donation from a little boy who heard about the effort on the radio.
Once various state associations identified the affected families, “we paid three months of mortgage or rent for each of them,” Mendenhall says. Working with REALTOR® volunteers and association staff in New York, New Jersey, Connecticut, Maryland, Massachusetts, Pennsylvania, Virginia, and Washington, D.C., NAR collected and paid out nearly $8.5 million—helping 1,333 families—in a period of just three months.
The powerful feeling of making a difference in the wake of the 9/11 attacks led to a broadened mission: serve as a beacon of hope for those suddenly displaced from their home by disaster. The foundation was born.
An NAR-donated trailer, serving as a makeshift local association office, was just a small part of the relief funding that went to New Orleans after Hurricane Katrina in 2005.
With some disasters, simply getting to people to provide relief is fraught. The town of Lumberton, N.C., was devastated by Hurricane Matthew in 2016. Waist-high water, impassable roads, and lack of water or electricity left people stranded, remembers Linda Oxendine, the town’s tax collector, who, out of necessity, earned a battlefield promotion to disaster recovery director.
“[REALTORS®] were one of the best things that could happen to our city and county,” Oxendine says. “They were doing damage assessment even before FEMA could arrive.”
“REALTOR® volunteers showed up 7 days a week for weeks,” says Wendy Harris, ABR, CRS, who took a month off her practice as broker-owner of Team Harris Real Estate in Fayetteville, N.C., to volunteer in Lumberton.
Members created a Facebook group for town residents to communicate, set up a supply distribution point in a parking lot, canvassed neighborhoods to assess well-being and damage, and helped people complete RRF applications, Harris and Oxendine say. In addition, the REALTORS® worked with the mayor to stop the code enforcement department from condemning homes. The area is so impoverished that many residents would have no other housing options.
Further complicating matters was the difficulty of verifying who actually lived where, as many residents of this poor, rural town live in homes passed down over decades and without deeds or lease agreements in their name. Harris worked with Oxendine, who was able to confirm folks’ residency via tax records and utility payments.
Once that was squared away, the checks moved fast. “The grant money feels like a million dollars when you’re walking out with nothing,” Oxendine says.
Beyond financial relief and boots on the ground, members helped the town better prepare for the future, Oxendine adds. “They knew what information to collect and helped create a database to store the information so our response can be a lot faster.”
The community is now also training volunteer team leaders and high school students to emulate the REALTORS®’ canvass- ing efforts. “REALTORS® showed me the model,” she says.
It’s a model that plays out in every nook of the country every day, not just during natural disasters: Members volunteer in their communities to support the underprivileged, the sick, the challenged, and the unhoused. “REALTORS® are there in good and bad times,” says RRF Board President Ford. “[The RRF] solidifies the fact we’re the core of our community.”
For recipients like Larson in North Dakota, “it’s hard to explain an industry that’ll do that for you, right away, with few questions asked. It’s a real throat-catcher.”
You might be able to save money and improve your quality of life by relocating to a retirement spot that better suits your interests and budget. A new U.S. News analysis compares the 150 largest metropolitan areas in the country as potential places to retire. The study includes data on housing affordability, happiness, desirability, retiree taxes, the job market and access to quality health care, and is weighted based on a U.S. News online survey of people age 45 and older about their retirement preferences.
U.S. News and World Report has named Port St. Lucie the 8th Best Place to retire in 2022.
In fact, Florida cities dominated the top 10 list, netting eight of those spots, including Sarasota (#1), Naples (#2), Daytona Beach (#3), Melbourne (#4), Tampa (#6), Fort Myers (#7), and Port St. Lucie at #8.
To identify the best places to retire, U.S. News analyzed data for the 150 largest metropolitan areas in the U.S. to assess how well they meet Americans’ retirement needs and expectations. The top cities are evaluated on overall happiness of residents, housing affordability, health care quality, retiree taxes, desirability, and job market strength.
Real estate pros are using this time to connect to prospects and past clients online. Building brand awareness using social media ad platforms may be cost-effective and could pay off in the long run too, according to a new study from Evocalize, a provider of marketing technology solutions for the real estate industry.
Researchers found a 29% drop in media costs from Facebook advertising. “This is due to the increased amount of supply (available ad impressions) generated from the massive amount of people working from home and surfing Facebook,” the study notes. For example, the amount of video views on Facebook Live has doubled in just a week.
Also, the study notes a decrease in overall advertiser demand. Brands are reducing their marketing expenditures or halting them completely during the pandemic. The drop in demand has resulted in a drop in media rates too, the study notes.
Engagement and click-through rates have dropped somewhat during this time, the study notes. Researchers say this could because in-market buyers and sellers may still be browsing and viewing the ads but have less intent and are, therefore, clicking through less frequently.
Still, “the significant decrease in media costs, with the fluctuation in engagement and conversion metrics, leads to a near ‘business as usual’ approach to lead generation,” the report concludes. “The 15% increase in [cost per lead] means that for every $150 the average real estate agent spends on lead ads, they used to get about eight leads and now they are getting about seven leads.”
The significant drop in media costs could create an opportunity to “start building new relationships with clients and prospects,” the study notes.
Nearly a decade of work to revamp the National Flood Insurance Program is upon us, and a lot of misinformation is being spread around. As the 2021 chair of NAR’s Insurance Committee, I would like to set the record straight and am pleased to report that on Oct. 1, FEMA began implementing a new flood insurance pricing methodology called Risk Rating 2.0: Equity in Action. REALTORS® have been calling for these changes since Congress passed the Biggert-Waters Flood Insurance Reform Act in 2012. FEMA heard your concerns and those of your clients and adopted most of the recommendations from NAR’s Insurance Committee.
These changes took effect Oct. 1 for new policies but will not take effect for renewal of existing policies until April 1, 2022. It is already clear that Risk Rating 2.0 will produce more accurate and equitable NFIP rates that better reflect the specific flood risk of each individual home.
What to Know About Risk Rating 2.0
FEMA is replacing an inaccurate rating system that has not been updated in half a century and is not sustainable for homeowners or taxpayers. Imagine if you had to serve your clients based on 50-year-old technologies and only two pieces of information about a property—in this case, flood zone and base elevation certificate. If FEMA did not make these changes, NFIP rates would continue to climb 18% to 25% per year until reaching the current top rate of $63,000 for a $250,000 home under many policies.
Risk Rating 2.0 will now price each home individually—rather than by zone—using modern industry technologies, more flood risk variables, and property-specific characteristics including elevation, distance to water, and cost to rebuild. One million homeowners will see a significant rate decrease at renewal while the majority of other homeowners will pay a slight increase or decrease. The new top rate in the program is $12,000 per year compared to $63,000 under the old system. Low-value properties also will no longer subsidize high-value properties, and elevation certificates are not required for an accurate rating.
Because each property is now rated individually, only a licensed insurance agent will be able to tell your client whether their rate will increase or decrease under the new system. While flood insurance is outside real estate licensure and training, you can be a resource to your clients by identifying qualified insurance and flood risk professionals who can help answer their questions.
What Isn’t Changing Under Risk Rating 2.0
Risk Rating 2.0 applies only to risk-based NFIP rates and will not affect flood mapping or insurance requirements, which will continue to be enforced by Congress, local communities and lenders.
Grandfathered rates, including for newly mapped or pre-Flood Insurance Rate Map (FIRM) subsidized properties, will continue. By law, increases will not be more than 18% per year.
Policyholders will still be able to transfer their grandfathered rates and other discounts to a buyer/new owner by assigning their flood insurance policy at the time of the sale of the property.
After the Biggert-Waters Act was enacted, NAR formed a member insurance committee to investigate the sudden, excessive flood insurance rate hikes and guide REALTORS® in the aftermath. We successfully convinced Congress to delay the rates for a decade while we hired independent actuaries and worked with FEMA to help diagnose the problem and propose solutions.
Risk Rating 2.0 is the culmination of thousands of member hours and research dollars as REALTORS® collaborated with and worked alongside FEMA to develop the new methodology. This outcome is not only a big win for consumers but also a powerful example of your RPAC dollars at work.
Date:Event occurs the third Friday of every month.
Time: 5:00 pm – 8:00 pm
Location: Treasure Coast Events IRC
Address: , , FL,
Price: Free
Category: Cultural
Every 3rd Friday, the rendezvous is at Downtown Fort Pierce, 5-8 PM! Join your local arts community on March 19 for the next Art Walk. Artists will line up the historic streets, and musicians and other performance artists will further entice you to visit art galleries and businesses. Plus, get discounts from participating retailers and much more. Mark your calendar! 3/19/21
Touch a Truck is a family friendly interactive event. Semi-trucks, monster trucks, military vehicles, excavators, backhoes, cranes, bulldozers, box trucks, fire engines, police cars, tow trucks, and more… are all welcome!!! They’re all SO COOL in the eyes of little (and big) kids. Touch A Truck celebrates learning, literacy, and family engagement through play. Please join us for this day of family fun.
Spend a beautiful day at Heathcote Botanical Gardens and enjoy our Fall Garden Festival. There will be plants for sale, food available for purchase along with fabulous vendors to shop as well as family activities, educational presentations and of course loads of fun! So, bring the family and join us!
Date:Thursday October 14, 2021 through Saturday April 30, 2022.
Time: 10:00 am – 5:00 pm
Location: Elliott Museum
Address: 825 NE Ocean Boulevard, Stuart, FL 34996
Price: Adults 13-64 – $14, Seniors 65+ – $12, Children 6 to 12 – $6, under 6 – free
Category: Arts / Exhibits
The Elliott Museum and Harbor Branch Oceanographic Institute are partnering to bring this one-of-a-kind exhibition with our community and visitors from around the world. From November 1,2021 through April 30, 2022, this display will include an up-close look at Harbor Branch’s famed Johnson-Sea-Link submersible and highlights from the organization’s rich history and current research. Special lectures and activities will be held at the museum during the exhibition starting in November.
Home buyers nationwide tend to see the lowest premiums during October and during the winter months, according to a new analysis from ATTOM Data Solutions, a real estate data firm, of more than 33 million single-family home and condo sales over the past eight years.
Buyers may be more likely to find the deepest discounts in certain states during certain months of the year. ATTOM Data Solutions’ study reveals when. Most states see these opportunities in winter, but buyers in Hawaii should prepare for June as the summer heat begins.
The states that see the biggest discounts below full market value are:
House hunters are realizing they may need to expand their timelines to find a home. While they’re still anxious to buy, they are getting the messages about the competitive housing market and fierce bidding wars that they realize may delay their plans.
The share of consumers who hoped to buy a home in the next six months plummeted from 34% a year ago to 21% this year, according to a newly released homebuyer flash survey conducted by Point2 Homes, an online real estate marketplace.
But it’s not from a lack of eagerness: 50% of respondents said they were determined to buy as soon as they find the right property.
As one survey respondent from Dallas said, “I’ve been looking since December 2020 for a home but everyone keeps taking them off the market or increasing their pricing at a ridiculous amount.”
Concerns about housing shortages are increasing. But fewer respondents this year appear worried about their personal financial stability.
As such, the higher home prices aren’t scaring them away. Fifty-one percent of the more than 2,600 respondents said they were confident that the steep price hikes would not be a problem in their house hunt. On the other hand, 45% of consumers surveyed said they did not believe they’ll be able to keep up with the price hikes.
Also, buyers are still showing an interest in virtual home tours to shop for homes, but that interest does seem to be waning in favor of a return to in-person viewings. Interest in online pictures declined, while 11% of respondents expressed an interest in going to showing this year compared to just 4% last year, according to the Point2 Homes survey.
“Home seekers all across the U.S. remain positive about the home buying process, and seem more determined than ever to find the perfect home,” the report says. “Although the competition is fiercer than it has been in the past, many Americans are keeping their eyes on the market and are willing to play by the new rules—which imply more preparation, higher offers, and going through bidding wars without losing hope.”
As more homeowners sheltered during the pandemic, they explored outside activities, with gardening growing into a favorite pastime for many. To grow gardeners’ newfound love for plants and gardens, greenhouses are popping up in more backyards.
Greenhouse manufacturers are reporting surging website traffic and demand over the past year.
Bunny Williams, who maintains an interior design practice in Manhattan, told The Wall Street Journal that the greenhouse has become a place of solace for her and her husband during the pandemic. They use their greenhouse to care for a variety of plants, such as orchids, succulents, passion flowers, and geraniums.
The greenhouses can be as elaborate as homeowners desire, from luxurious 25-by-50-foot metal-framed glass enclosures costing thousands of dollars to pop-up units of a few hundred dollars that homeowners purchase online.
But greenhouses are bringing their users more purpose than just plantings. They also double as places to entertain or even to work from.
“Greenhouses have a different smell, temperature, light, and humidity than that of being outside,” Kathryn Herman, a landscape designer who built a greenhouse on her property in Fairfield, Conn., told The Wall Street Journal. Herman spent about $324,000 to build her home’s greenhouse. “When you step into one, you are in a totally different environment, which makes them magical.”
Over the last few months, high competition and the limited housing stock for sale have brought double-digit annual gains to home prices. That has locked out many buyers, particularly first-time home buyers, or forced them to stretch their budgets to the maximum.
Amid those dynamics, the median price of an existing home reached $356,700 in August—a nearly 15% uptick compared to a year earlier, according to the National Association of REALTORS®.
First-time buyers comprised 29% of sales in August—they usually make up about 40% of the housing market, according to NAR.
In general, buyers are typically in good financial shape. But many first-time buyers in particular have to keep their eyes on their budget to afford homeownership. Overextending themselves can lead to regret and financial hardship later on. Nearly two-thirds—or 64%—of millennials, aged 25 to 40, say they have at least one regret about purchasing their current home, according to a Bankrate poll from earlier this year. The top regrets are that maintenance, mortgage, and other costs are too high. Thirteen percent believe they overpaid for their property.
The typical first-time home buyer makes a 7% down payment, on average, on a home purchase, according to NAR data. But some loan offerings may allow them to put down much less, like 3% or 3.5%, or even 0% with loans through the Department of Veterans Affairs, for those who are eligible.
After calculating the down payment, first-time buyers should factor in expenses like property taxes, homeowners insurance (which averages about $1,000 a year but can vary greatly), association fees, utilities, and maintenance costs.
“Something may break once you are in the home or you may want to decorate it or change the finishes within the home,” Jessica Lautz, NAR’s vice president of demographics and behavioral insights, told CNBC.
About 23% of buyers waived inspections in August, according to NAR, but that can lead to unexpected, expensive repairs. “That is the biggest budget buster to me,” Jacqueline Cooper, president and CEO of Financial Education Associates in Dorchester, Mass., told CNBC. “These are things we don’t notice and we don’t have the experience to determine if this is an OK thing or not.”
Another big expense buyers need to prepare for is closing costs. Those include costs like the appraisal, title insurance, credit reports, loan origination fees, and more that first-time home buyers ought to brace for. They can add up to between 2% to 5% of the home price and are due at closing.
Mortgage Loan Originator & Reverse Mortgage Specialist
