Last month I attended the meeting of the Leading Real Estate Companies of the World Board of Directors in Chicago. The board members represent premier residential real estate companies and, as I was heading back to my home sweet home in the Carolinas, I felt a sense that the second half of the year had the promise to be very positive. Even our Florida and Midwest brokers are reporting an increase in business without the tax incentive that we had last year.
Overcompensation in mortgage reform is still causing more-fall throughs than we would like. However, as the pendulum is trying to get back to a place that is a win-win for the customer, as well as the investor, we are seeing some movement. Continue reading
I have several boomer friends who are now calling themselves “empty nesters.” The kids are off to college…or have graduated…and curiously they’re aligning themselves with primitive avian nesting habits. They imagine that now that they’re back to being a couple (the lucky ones), they’ll have more “freedom” and revert to happy college-era activities…like going sockless and eating over the sink. They fantasize about spontaneous get-togethers with other empty nesters, learning Russian, walking around the house naked, and taking more long weekends. For extra cash, they consider renting out their child’s room and finally emptying the garage of scooters, pink bicycles, and remote-controlled dump trucks. That’s when it hits them.
After the initial rush of joyful irresponsibility passes, these new empty nesters are finding themselves, in their words, “rattling around in a too big house with too many rooms, a too big yard, and too many memories.” They look around and see all the “stuff” accumulated during their “family years” and wonder if the TV show about hoarding is about them. “Well, the kids will want to come home [just twice a year] and they’ll want to relive their childhood in the old family homestead.” To which I say, “Stop it! You’re not The Waltons!” Continue reading