EXPAND YOUR HORIZONS Make the Right Connections Homeowner
- Slides: 16
EXPAND YOUR HORIZONS Make the Right Connections Homeowner to Renter Challenges
Homeowner to Renter Defined Transferee Choice: • • • Loss of equity Insufficient equity Home not selling Extended selling time Uncertainty Credit issues Corporation supporting destination rental: • Moving to High Cost Area • Anticipated additional move w/in 2 years • Employee moving from depressed market • Critical talent
ERC Survey Results – Reluctance to Relocate ource - ERC 2010 Transfer Volume & Cost Survey and ERC 2011 Transfer olume & Cost Survey
Assignments 2007 -2011 Source – Wm French Buyers Real Estate Services, Inc.
2007 -2011 Buyer Assignments Who Rented Source – Wm French Buyers Real Estate Services, Inc.
Homeowners Choosing Not to Purchase at Destination Source - Altair Client Data
ERC Survey Results
Buyer to Renter Ratio Source – Wm French Buyers Real Estate Services, Inc.
ERC Results – Homeowners vs. Renters
Homeowner to Renter Impacts • Corporate • Transferee • Service Provider
Corporate Impacts • Declined offers for relocation • Increased recruiting efforts • Increased costs – Loss on sale – Property Management – Dual Housing • Decreased costs – No Home Sale needed • Increased exceptions requests – Storage – Multiple moves – Temp Housing • Distracted employees • Alternative policy type needed • Potential management fee impacts
Transferee & Family Impacts • Refusal to move or move uncertainty • Extended family separation – Difficult decision process • Not selling departure home, dual housing • Need more benefit $$$ • Lower Rental Supply (single family homes)
Service Provider Impacts • Change in move type – Potential pricing changes – Change in counseling process • Reduced RMC revenue • Supplier fees impacts • Higher level rental assistance need – Lease negotiation – Destination services – Fee increases • Reduced broker/agent revenue
Rental Market Challenges • Foreclosure Impact • Decreased Rental Inventory (single family homes) – Non professional homeowner landlord challenges – Increased emotional connection • Landlord driven market – Increased pricing – Decreased negotiation • Increased rental requests • Property search issues (MLS, Craig’s List) • I
Policy Solutions Today • • Loss on sale Short Sale counseling Dual housing Extended home purchase • Extended storage • Property Management • Rental Subsidy • Increased destination/rental assistance • Incent to rent
Future Impacts • • Real estate impacts Future solutions Alternative move types “Now am I a renter or homeowner? ”
- Language
- Right product right place right time right price
- Right time right place right quantity right quality
- You put your right foot in you put your right foot out
- The right man on the right place at the right time
- Make hay while the sun shines proverb expansion
- How to expand your business without reinventing the wheel
- Bright horizons ucsf
- Soil
- Oaebcr horizons
- Master horizons
- Soil horizons
- Limitless horizons ixil
- Back up care advantage
- Characteristics of aridisols
- Soil horizons
- Elluviation