The value of being able to view properties online has always been high. Real estate professionals know that property listings with attractive pictures invariably get lots of attention, after all. Even better is when an online listing offers the ability for house hunters to enjoy a “virtual walkthrough” of the property using newer technologies, as this offers an even interactive experience that you can’t get with even the best static pictures.

For some time, the industry leader for virtual property walkthroughs has been Matterport, a 3D camera manufacturer that specializes in replicating real-world spaces in photorealistic 3D that can then be explored by users. Matterport has become the go-to for the real estate industry because of its quality and ease of use – and now, the company has just taken things a step further with their new Pro3 3D capture camera.

Matterport’s selection of cameras and accessories is already quite robust; the company offers a range of different devices. These range from the cameras themselves to mobile-ready motorized axis mounts for smartphones for DIY 3D capture. Matterport even offers a concierge-level capture service where trained professionals will come to your location and perform 3D capturing for you, meaning there’s a level of service for every budget.

The Pro3, as the latest entry into the Matterport lineup, is a major leap forward. Room captures take less than 20 seconds with the new camera, which means creating a digital 3D twin of a property will take much less time than it has in the past. Larger spaces are more easily scanned as well, thanks to the device’s integrated 100-meter LiDAR sensing range. Plus, the Pro3’s 20-megapixel sensor is as good at capturing images indoors as it is out, and in a variety of lighting conditions.

All this cutting-edge technology does come with a hefty price tag, however. Matterport lists the Pro3’s MSRP starting at $5,995, and that’s just the base model. The deluxe Pro3 “Acceleration Kit”, which comes fully equipped with all the bells and whistles you need to streamline your room scans even further, will set you back an additional $2,000 for a full price of $7,995.

Buying a house is a dream come true for many people. Still, getting a massive debt representing a significant amount prevents you from saving money. It can also affect your retirement plan or even keep an emergency fund. 

Like other debts, paying an early mortgage lets you secure a better financial future. You can go on planned vacation, begin budgeting for your kid’s college fund, or even purchase things you’ve been putting off. 

Let us share some tips for helping you close that mortgage balance early.

Buy an Affordable Home

Before allowing you a loan, your bank will analyze your current financial capabilities. After deciding on a figure, your bank will assign an amount for a possible loan. Many people use their bank’s suggestion to allocate their money for their house budget. We recommend reviewing your overall monthly budget. You can decide how much you will spend on getting an affordable house. 

Pay Other Debts Completely

If you have debts apart from the mortgage you are about to get, it’s best to pay other debts in full. Also, search the web for a Debt Collection Defense Attorney Near Me when you encounter debt-collection lawsuits. After paying other obligations, you can begin planning a viable payment plan for a new home. Closing remaining balances also allows you more extra money you can use to pay your mortgage faster. 

This week’s agent focus takes us to Knoxville, Tennessee, and one of America’s most preferred zip codes. As in the past, we use a variety of tools to narrow down the field of best digital marketers among real estate pros. Like other smaller markets, Knoxville reveals how brick-and-mortar marketing and sales strategies seem to continue to dominate. Real estate remains light years behind most other professions in a world that’s turned to digital and technology. So, with this in mind, here are a few names that stand out in an otherwise blurry crowd of Tennessee brokers.

Excellent reviews on Zillow and Google, traditional media mentions, a respectable SEO score of 78/100 on their website, and all the other subtle nuances digital agents exhibit puts Tyler Fogarty out in front of almost all of his company’s competitors. To be honest, I was not expecting to find this level of engagement in Knoxville, given the failures we’ve seen in similar markets. Hats off to Fox and Fogarty there. This team even has three furry mascots: Zoey, Salsa, and Crush! And this is a lovely touch. 

Of course, any marketing and sales effort can be improved. I’d recommend “more” online and perhaps some ad space. 

At the end of August, the government updated its economic numbers for the U.S. economy’s performance in the April-June quarter. The update confirmed what it had reported last month: That the economy shrank for two straight quarters. 

Six months of economic contraction is a widely held but informal definition of a recession. The post-pandemic era very well may be rewriting the definition of a recession. Inflation has been raging, wages are growing, employment is up, and unemployment is at a 50-year low. None of those are indicators of a recession. The six-month decline in economic output is the only strong indicator of a recession. So, are we in one or not?

More likely, the post-pandemic economy and major shift of economic power to Millennials are reshaping the economy. Inflation is still so high that despite pay raises, most Americans’ purchasing power is eroding. Most people feel inflation in their day-to-day purchases – essentials like food, gas, and rent. 

Make no mistake about it, the Federal Reserve is at war with inflation. There have been four consecutive interest rate hikes that have pushed borrowing costs to the highest level since 2019. This is boosting consumer borrowing costs for items more associated with a recession – homes, cars, and credit card purchases. What we are experiencing is purchasing power erosion on two economic fronts – short-term and long-term purchases. This is key to why many economists are saying we are not currently in a recession (even with six months of economic decline), but we are headed for a recession later this year or in 2023. After inflation has been tamed but long-term spending remains in decline.

We often don’t know when we are in the early months of a recession. Six months decline is unofficial. Recessions are officially declared by the obscure National Bureau of Economic Research, a group of economists whose Business Cycle Dating Committee defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” All of their data is hindsight. None of it is forward-looking. They use many data points to define a recession with major indicators being gauges of income, employment, inflation-adjusted spending, retail sales, and factory output. It puts heavy weight on jobs and a gauge of inflation-adjusted income that excludes government support payments like Social Security. Ultimately, the NBER typically doesn’t declare a recession until well after one has begun, sometimes for up to a year.

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to [email protected].

Question from Carter in OK: Hi Brian, I bought my home 14 months ago. This is the first home that I’ve owned a home that is part of a Home Owner’s Association. Last week, I received a certified letter from the HOA saying that they are beginning foreclosure against a lien they have placed on my home. They say that I haven’t made any of my “assessment” payments since I moved in. I’m totally confused. I thought those payments were part of my mortgage payment the same way my homeowner’s insurance was with the house that I owned before this one. How do I fight my homeowner’s association? They’re telling me my account is with the lawyers. I didn’t get a bill and suddenly, there’s a lawyer’s letter informing me that my HOA is foreclosing on the lien to my house for nonpayment of association fees.

Answer: Hello Carter. Without knowing all of the details, it does sound like you have a big problem on your hands that you need to start resolving immediately. The fact is that in most states, HOAs have almost as much authority to foreclose on your house as your mortgage company does. The number one reason for foreclosures is the non-payment of HOA fees. If you really don’t understand what is going on, you should probably hire an attorney to help you understand and to help you figure out what your options are and what your next step should be.

I can understand how you might have thought it was part of your mortgage payment in the beginning but there had to have been a lot of red flags telling you otherwise – beginning with when you bought the house. HOA laws vary significantly from state to state, and I don’t even begin to understand all of the variations. However, some general laws apply in almost every situation. First of all, there should have been a pile of paperwork related to the HOA that was part of the closing paperwork that you signed at the closing table. I’m guessing you didn’t read it or didn’t understand it. That’s unfortunate. When I’ve written about HOAs in the past, I’ve always strongly suggested home buyers understand what is going on with the HOA even before making a purchase offer. This includes reading the board of directors’ meeting minutes for the past year, going over the financial condition of the HOA, and reading the Covenants, Conditions, and Restrictions (CC&Rs).

Carter, back to your specific problem. The short answer is that “yes” you have a big problem because almost every HOA has the authority to foreclose on a home owner for failing to pay dues or fees. Depending on state laws and the CC&Rs, you should have been sent multiple notices by registered mail telling you that you were past due. Eventually, you should have received notice that the HOA was beginning the process to place a lien on your home. It definitely should have opened your eyes when you received notice that a lien had been placed on your home. Maybe that is the step that you are currently at, and it did catch your attention. A letter from the HOA (or their attorney) might have included a notice of intent to foreclosure and that is the next and final step. This is what you need an attorney to help you understand — what step in the process you are at and what you need to do to turn things around. You can be sure that you’ll have to pay all of the past due fees and probably a bunch of late payments and fines along with it. 

Working as a real estate professional often means spending long hours at your desk, working hard on client problems. Sitting down for that long while working on marketing plans, making and answering client calls, and doing related work on your computer is sure to take a toll on your body. Therefore, it’s recommended to invest in a high-quality ergonomic office chair to support your comfort and health.

Many real estate professionals know the value of investing in an ergonomic chair. The X-HMT heat and massage chair from X-Chair is an industry favorite due to its design capabilities. Making this your ergonomic office chair of choice is often a good idea. However, you won’t be able to get the most out of your X-HMT unless you know how to use it properly. Here’s what you should know.

The heat and massage capabilities of your X-HMT are great for providing comfort and relief from back pain, but the unit that controls those functions needs to be configured properly for it to be as effective as possible. After you’ve installed the unit, you will need to turn it on and allow it to run on its initial battery charge until it’s completely depleted. 

Then, you must charge the battery to at least 75 percent to ensure that the battery is conditioned properly. This will extend the battery’s life, making the unit able to hold a charge for longer. Fully charging your battery takes approximately four to five hours. You can use your unit while it’s plugged in, or you can let it run on battery power exclusively. 

Financial and business consulting firms are dealing with an unprecedented range of strategic challenges, both from within and outside the industry. Recently, John Canty Webster of Massachusetts talked about how financial needs and consumer behaviors are changing.

According to him, the reason for these changes is social changes, shifts in demographic, and the acceptance of new technology as a means of delivering financial services. John Canty explained that the traditional product-centric approach is rapidly moving toward more customer-centric models of business because of the easy availability of huge analytical data and the resulting ability to understand customers better. New fintech models are introduced which have disrupted the traditional business models.

“The financial and business consulting services are quickly gaining significance across the various financial institutes. I can safely say that financial consulting services are the head of all the other services related to finance like insurance, banking, and retail management. The financial consulting industry looks over all the other economic activities and ensures the management of the risk that can be experienced within the economic sector. John Canty Finance Consulting Firm is among many other consulting firms and agencies that are providing solutions regarding economic-related queries.”
~ John Canty

John Canty Webster also discussed the latest study released on the Global Financial Services Consulting Market by AMA Research. The study evaluates trends, market size, and forecasts for 2026. John emphasized the significance of studying the Financial Services Consulting market in Massachusetts because it covers substantial research data and proof to be a handy resource document for managers, analysts, and industry experts. He also shed light on the market growth drivers, trends, opportunities, and upcoming challenges.

According to the most recent figures, 20 percent of all home sellers have dropped the price of their listings because of sagging demand. As a result, for the first time in over a year and a half, the average home sells for less than the list price. 

The data from Redfin show homes are sitting on the market longer than they did a year ago, and the median price dropped by $14,000. Consequently, the supply of homes is rising. The National Association of Realtors reported that listings are 20% lower than in July 2021. 

Higher mortgage rates have exacerbated the problem. The Redfin data also reveals showings and buying services down, with homes lingering a lot longer on the market. Meanwhile, Goldman Sachs predicts home price drops will affect nearly 40% of metropolitan areas in 2023. 

The seemingly good news is that strategists at GS say overall prices will rise 0.7%. This Forbes report indicates that big metropolitan areas in western states will be affected. A Fortune report reveals why.

“On a year-over-year basis, new home sales and existing home sales are now down 29.6% and 20.2%. And single-family housing starts and mortgage purchase applications are down 18.5% and 23%, respectively. Simply put: Housing activity is contracting—fast.”

Many people will soon welcome relief from the hottest days of summer and are starting to look forward to the change in season. However, fall and spring are the seasons that require the most home maintenance because these are the most dramatic changes in weather. Procrastinators will wait until the rains are falling and the wind begins blowing before cleaning out the rain gutters. Homeowners that really value keeping a roof over their heads will clean the gutters a few times to keep them leaf-free during the fall months. 

The basic fall maintenance checklist doesn’t change much from year to year. You’ll find a must-do list here: Fall Basic Home Maintenance Checklist. But if your home is a little older or you want to be more thorough, the following is a list of tasks you should consider.

Gutter guards. If you don’t want to clean the gutters several times each year, consider installing gutter guards to make the job a lot easier. You should still check at least once a year to be sure these are doing the job but it’s much safer going up a ladder using both hands just once to verify the guards are doing the job. As our population ages, this is a good option before you can’t safely climb a ladder any longer.

Take care of large jobs. The coming weeks of cooler weather without rain and before the days become shorter are good for larger jobs like painting the exterior. The low humidity, cooler (but not cold) temperatures, and dry siding are the best time of the year for exterior painting. Before applying new paint, inspect the siding for blistering, bubbling, or cracking paint. Pressure wash or scrape these areas before repainting to prevent rot and water intrusion. This is also the best time to inspect the caulking around doors, windows, and utilities. 

Weatherstripping eventually dries out and shrinks on older homes. Most older houses don’t have expansion foam between door jams and the house frame. Gently prying off the trim around the door and spraying foam into the gap will stop winter drafts. Also, consider door sweeps if you don’t already have them.

Home showing traffic softened throughout the U.S. in July as the real estate market continues to normalize after last year’s record surge, according to the latest data from the ShowingTime Showing Index®.

The year-over-year dip in buyer activity follows a general market rebalancing that’s taking place across the country as available inventory increases while fewer buyers actively shop for homes. Both factors have eased competition compared to last summer’s multiple-offer environment. The Northeast again saw the smallest dip in buyer demand in July, recording a 9.9% drop, followed by the Midwest’s 13.5% decrease. The South’s 24.2% drop came next, with the West again claiming the largest year-over-year decline at 44%. The U.S. overall saw a 16.8% dip in showing traffic in July.

Burlington, Vt. again led all markets in showings per listing with an average of 12.1, marking the third consecutive month it claimed the top spot. Burlington was one of only four markets in the top 25 to see a year-over-year increase in the number of showings per listing, with Hartford, Conn., Appleton, Wis., and Syracuse, N.Y., also seeing modest increases.

Trenton, N.J., recorded an unusual month-over-month increase of 4%, the only market in the top 25 with a gain in traffic compared to June. Among the top 50 busiest markets, just two other cities, El Paso, Texas, and Bremerton, Wash., recorded month-over-month gains, 2% and 4%, respectively.

The rewards for land owners depend on the amount of effort and time invested in the land. So take your time and explore your possibilities for making money from your land. Some require a lot of effort and interaction with resources, while others require less. To help you make your decision, we’ve listed some quick and easy ways to profit from your land. 

Photo by micheile dot com on Unsplash

Sell the Land for Cash Money

Selling the land for cash money is the quickest and easiest option to get an extra income. This can be a great option if the piece of property doesn’t fit into your plans anymore. Additionally, you can opt to sell the land you’ve inherited and use the money to buy something you’ve always wanted. Professional land buyers are always looking for land for sale. They can assist you and make the entire process as simple as possible. Instead of waiting months to close on the land with traditional buyers, you can have the cash within a week.

Lease the Plot of Land to Hunters

You may make a good profit by allowing people to go hunting on your property if you own a large parcel of raw land that is also home to wild game. Although arrangements vary depending on the specific circumstances, having some amenities, such as a cabin with power and running water, will increase its appeal to potential hunters. Always double-check the hunting regulations in your area with the wildlife department. Don’t forget to confirm that visitors have proper licenses before their arrival on your hunting land.

Host a Billboard

If your vacant land is next to the main road, you could consider hosting a billboard to earn some passive income. Your location can interest advertising companies constantly looking for new sites to place a billboard. The amount of money paid to landowners varies considerably based on the size of the sign, the cost of advertising at the time, the volume of traffic, and countless other considerations.