Central America is a stunningly beautiful place to visit. Those who are lucky enough to visit the region can see truly picturesque vistas every day! The incredible scenery is part of why Central America is a key tourist destination for millions of visitors worldwide. 

Another reason for its appeal is that the region focuses more on giving someone more bang for their buck, especially regarding rentals and luxury real estate vacation homes. 

Today we’re going to share a few of the key vacation spots we recommend throughout Central America for anyone curious to see the region’s beauty for themselves. These places are also rife with opportunities for enterprising realtors and investors looking to expand overseas or who are already present in Central America. 

1. Panama City, Panama

Historic and scenic Panama City, which happens to be the capital of Panama, sees thousands of tourists a year. The draw is due to its beautiful positioning right alongside the Pacific Ocean. 

Whether someone is looking to stay in an area known for its luxury real estate in Avenida Balboa or is just preparing themselves for a cruise that happens to include a stop in the city, there are lots of opportunities in the city. 

JPAR® – Real Estate, America’s #1 fastest-growing, 100% commission brokerage, is pleased to announce Chris Sears was recognized by his peers at the National Association of Hispanic Real Estate Professionals’ “Battle of the Brokers”.

“NAHREP is an incredible organization and I am honored to be recognized by my peers,” said Chris Sears, Co-Founder, The Sears Group. “A focus on diversity and culture is important to our success as we continue to grow our business,” said Sears.

The Sears Group is co-managed with Jennifer Sears, the managing partner, and together they continue to achieve impressive growth through the expansion of their organization from 40 agents to 330 agents in just three (3) years.

The Battle of the Brokers event featured a competition among its six brokerages where participants were asked a series of questions and their responses were voted on by the crowd in attendance.  The participants had two minutes to respond and brokers were eliminated after each round.  Content topics included:

“Chris Sears and The Sears Group provide an excellent example of how the JPAR® brand’s emphasis on culture drives positive business results,” said Mark Johnson, President, and CEO, JPAR – Real Estate. 

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 askbrian@realtybiznews.com.

Question from Brooke in TX: Hi Brian, My life seems to be kind of directionless right now. I’m 22 and have worked as a waitress and some retail sales in a big box department store. Neither paid very well nor am I excited about making a career of either. My uncle is a pretty successful real estate agent, and he thinks I should give it a try. He’s a seller’s agent and says that is the best way to go. I appreciate his advice, but he works out of a small office with only about six agents. From what I understand, two of them work as both seller and buyer agents and two work mostly as buyer agents. I don’t think the office owner directly works many deals at all. That means my uncle is the only one in the office only working only as a seller’s agent. That makes me wonder why he is the only one doing that? My uncle is not offering me a job, so I don’t feel obligated to do everything he is suggesting. The bottom line: is it better to be a selling agent or buying agent?

Answer: Hi Brooke. There is no simple answer to your question, but I do think that there is a general consensus that most agents would prefer being selling agents. Before we get into the reasons, let’s clarify a technical point. An agent doesn’t become a selling agent until there is a contract signed with a buyer. Up until that point, the agent is a listing agent. There is a reason why I make that technical point. Once the contract is signed with the buyer, the buyer’s agent also becomes a selling agent. Both agents have the same goal to sell the house. For that reason, I prefer the terms buying agent and listing agent. Now, let’s look at why one career path might be preferred over the other.

To start with, a well-rounded real estate agent should have experience on both sides of the deal. That’s how you learn what might be motivating the other party, what negotiating strategy they are likely to use, and a lot of other valuable information. Next, let’s take a quick look at the situation in your uncle’s office. It appears there is a pretty good mix of what each agent is trying to do. That’s what you need for a well-run office so that it attracts both buyers and sellers as clients. That’s also what we need for the industry to be balanced. So even if more agents prefer to be listing agents, there is an equal need (and opportunity) for buyer agents.

Some agents are both listing and buying agents. This can sometimes work in small communities without many agents or transactions. However, in larger communities and in the industry in general, the buyers and sellers want to be represented by their own agents. And they want a highly skilled agent which leads to specializing in one or the other. On the other hand, it does happen that one agent represents both the buyer and seller. This can complicate the transaction for the agent and in some states, it is not allowed. When one agent works for both, they become a “transaction broker.” They cannot effectively represent both the seller and buyer. They have to be a neutral go-between. In states where it is legal, the agent must inform each party of the dual agency situation and receive each party’s consent before moving forward. Brooke, I don’t recommend this situation whenever it can be avoided, and it certainly is not appropriate for a new agent. So, if you were thinking about trying this career path, I suggest that you not do it.

The vacation rental revenue management startup PriceLabs said last week it has raised $30 million in a “minority growth investment” round.

The sole investors in the round was Summit Partners. Price Labs, which is already profitable, said the round is the first time it has sought outside funding, and that the cash will be used to scale its revenue management platform and expand its teams.

Based in Chicago, PriceLabs was founded in 2014 when its co-founder Richie Khandelwal found he was struggling to price his own home on Airbnb, and came to the realization that vacation rental owners were essentially left to their own devices. He ended up creating a pricing algorithm to solve his problem with friends and co-founders Anurag Verma and Sana Hassan. Since then, the algorithm has morphed into a startup and has grown to include other artificial intelligence-powered analytical tools to help managers and small businesses owners manage short-term rentals.

“With the growth-focused support and resources that Summit provides, we are excited to continue our mission of innovating the short-term rental market and accelerating our global recruitment,” Verma said in a statement.

Khandelwal explained that pricing can be the biggest growth lever when running a business. “Especially in the hospitality industry, where most businesses still use archaic methods and static pricing that can drop between 10% and 40% of revenue on the table,” he added.

The United States will need to add 4.3 million new apartments by 2025 to tackle challenges around affordability, demand and deficit, a new study has found.

The research, conducted by the National Multifamily Housing Council and National Apartment Association, suggests that demand for apartments is set to increase across all 50 states and all major metro areas. Altogether, about 40% of the demand will arise from California, Florida and Texas, the report found, with those states accounting for approximately 1.5 million in new unit demand over the next 13 years.

The study considers only those rental apartments in buildings with five or more residences.

NMHC Vice President of Research Caitlin Walter told Multi-Housing News that the research shows how the underlying fundamentals for the multifamily housing sector remain strong. That’s despite the economic uncertainty and the growth of single-family home sales during the pandemic, she said.

The NAA said most metropolitan areas can expect to see a big increase in demand for apartment, though on a national scale it expects growth to remain stunted until 2035.

Investing in real estate is a great way to earn passive income, especially if you enjoy the juggle of owning multiple properties.

For those who are actively working with a real estate agent to buy more houses, it can be challenging to keep track of all the money coming in and going out. This is an incredibly important part of being an efficient property manager. The organization will help you safeguard your finances and prepare for tax season. Maintaining detailed accounts for each property will save you time and money, while also reducing frustration down the road. 

Read on for everything you need to know about streamlining your expense tracking, whether you have one property or a dozen.

What qualifies as an expense?

Before diving into a few tips for tracking your rental property expenses, let’s discuss what qualifies as an expense in the first place. This is especially important to have when it comes time to file your taxes because you’ll want to see any expenses that qualify as a deduction. 

If you own a rental property, here are some common expenses you could expect every month:

Summer is one of the most popular times to buy and sell a home. If you’re trying to decide whether or not to sell your home, the summer months are a prime time for real estate transactions, so you’ll have an ample audience of prospective buyers.

Selling a home during the summer involves more than slapping a “For Sale” sign in the front yard. Even with more buyers in the market, you may also face stiffer competition for their attention from other sellers. Fortunately, there are simple steps you can take to help your home stand out from the rest and find the right buyer.

Here are six things to consider when selling your home in the summer.

School breaks and vacations

Summer is a particularly popular time for families to go house-hunting, because their children are out of school, making it an ideal time to relocate. If your home is close to a school or in a family-friendly neighborhood, it will be to your benefit to pick your listing date to coincide with when summer break begins in your community.

If you have children, it may be helpful to sign them up for day camps and to make plans for the early evening. Having these arrangements in place will remove the stress of shuffling your family out of the home every time an agent comes by to show your property.

Pending sales of existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday.

That is the slowest pace since September 2011, with the exception of the first two months of the coronavirus pandemic lockdowns, when sales plunged briefly and then rebounded sharply.

On a monthly basis, pending home sales fell a wider-than-expected 8.6% in June. A Dow Jones survey of economists had predicted a 1% drop.

The steep declines coincided with a sharp jump in mortgage interest rates. The average on the 30-year fixed loan crossed over 6% in the middle of June, according to Mortgage News Daily. It started the year around 3%. Those high rates and inflation in the general economy are hitting buyer sentiment hard.

Nearly a quarter of home buyers who purchased a home three years ago would be unable to qualify to buy a median-priced home at today’s elevated prices, the NAR said.

Search engine optimization (SEO) is one of the greatest marketing tools we have available to us. Believe it or not, 57% of businesses still don’t use SEO in their marketing strategies. While it’s a shame for them, it’s great news for you! It means there’s less competition standing in your way. Real estate SEO is a great way to reduce your marketing expenses over time, diversify your traffic, and reduce your dependence on paid ads. However, you still have to know how to do it. Let’s talk about some best practices for real estate agents using keywords in their SEO strategies!

Why Are Keywords So Important?

Keywords are one of the foundational pillars of your SEO strategy. They are Google’s only way of knowing how to match your content with the most relevant users. Finding the right mix of keywords to reach the right users is essential for your SEO strategy.

If you don’t match the keywords with what users are actually searching for, nobody will find you. Conversely, if you don’t use the keywords that likely homebuyers are searching for, then you won’t get any business from your new website traffic. For these reasons, finding the right keywords is essential for SEO success.

How to Find the Right Keywords

Keyword research simply starts with some brainstorming. If you were a user, what would you search to find someone offering your services?

There are plenty of free keyword research tools online, and most of them have a limit to the amount you can use each day for free. However, the majority of them give you the same information, so start with one and switch to another if you run out! Just ensure that you can see the related keywords, estimated search volume, and estimated competition (high or low).

When you move into a building, the last thing you expect is that the building will make you sick. Sick building syndrome is the name of a phenomenon where multiple building inhabitants suffer from the same symptoms implying a disease whose cause may be unknown. 

The symptoms could include nausea, dizziness, headaches, skin irritation, sinus infections, and upset stomachs. These symptoms could be caused by something prevalent in the building. Property owners and managers should try to prevent and address sick building syndrome.

Causes of Sick Building Syndrome

There is a lot of controversy about the existence of sick building syndrome and whether it is an actual illness. 

When the first energy crisis occurred in the 1970s, property owners and managers did everything they could to save money, including increasing insulation, weatherstripping doors, and using building wraps. It led to less air insulation in buildings in favor of energy consumption. 

However, it had unintended consequences, as some of the materials used produced noxious gasses due to the heat, causing health issues in residents. 

One of the hardest pills to swallow as you age is the fact that you may not be able to do everything on your own anymore. For people who have been independent for most of their lives, it can be quite an adjustment to have to suddenly depend on someone else.  

However, the fact remains that it is harder for seniors to be entirely independent, especially if they have health issues. That being said, there are still a few ways for seniors to keep their independence, although they may require some compromise.

Make sure you are safe in case of a medical emergency

Of course, your loved ones will worry about something happening to you while you are alone, and their worries likely aren’t unfounded.

As hard as it may be to accept, there are risks that go along with getting older. You may be at higher risk of incidents such as strokes or heart attacks, and on top of that, you are more likely to fall and injure yourself. So, you need to take steps to make sure that if something like this does ever happen, you are as safe as possible. Something like these medical alert systems can be great for helping seniors remain both safe and independent. 

After struggling to keep up with demand for much of the last two years, U.S. home builders say they’re now seeing a slowdown in sales, resulting in a backlog of homes they’re struggling to sell.

Sales of newly built homes fell more than 8% in June from the prior month and were down 17% from a year ago, according to a report Tuesday from the U.S. Census. Inventory also rose to a 9.3-month supply, up from 5.6 months at the end of last year.

Chief executives of major builders are saying they have to respond more quickly to the sudden turnaround in the market, in part by boosting incentives. For instance, Pulte Group, one of the U.S.’s largest homebuilders, said this week that net new orders for its homes in the second quarter were lower by 23% from last year. The company’s cancellation rate was 15%, compared with 7% in the prior year period.

“We have to work harder to sell homes. We have to be more nimble,” Pulte Chief Executive Ryan Marshall said on a conference call with investors. “Home price appreciation has slowed, stopped, or, through the use of incentives, is taking a couple of steps back. Through much of the second quarter, incentives were mostly tied to the mortgage, but this is now expanding to include discounts on options and lot premiums.”

Buyers have been encumbered by a sharp rise in mortgage rates and inflation in the overall economy, which has made home buying more expensive. The average rate on the 30-year fixed mortgage began this year around 3% and then began rising steadily. It jumped over 6% briefly in June, before settling back in the high 5% range.

In today’s modern world, the working class is worse off than it has been for half a decade. The cost of living increases dramatically every year, and it is becoming harder than ever to make a living working a single job. For those without a college degree or specialized vocational training, it can often seem that the only way to make it is to take on extra employment. 

As anyone unfortunate enough to have worked more than one job knows full well, this task is no picnic. Long hours and unforgiving workplace conditions make a life lived working two jobs a truly miserable reality. So, you’re strapped for cash and working two or more jobs is out of the question; what are you to do? 

Well, short of upending the system entirely and installing a new one in its place, there’s only one thing you can do: manage your money more efficiently! While it isn’t a long term solution to the problem at hand, budgeting can save you loads of money and make your life a bit less stressful when it comes to finances. Curious to learn how you can become a budgeting pro? Read on and we’ll tell you with pleasure! 

What it takes to budget in 2022

Before you can be a budgeting professional, however, you’re going to need to have a few preliminary steps taken care of. One does not simply become a budgeting expert right off the bat; it’s something that you’ve got to work on tirelessly for months or even years before you can master it. 

First up, you’re going to need to get in the right mindset. Budgeting is not particularly complicated, but it can be exceptionally difficult for those used to impulse buying and casual spending. The most important prerequisite for an aspiring budgeting pro is the ability to hold onto money and not spend it in irresponsible ways. Self control is everything in this game! 

Tiny homes have been growing by leaps and bounds over the past few years – stories and articles featuring these little miniature houses are just about everywhere. From a real estate investment perspective, it might not seem like tiny homes have much to offer, but you might be surprised. Here’s what you need to know about whether tiny homes are a good investment!

What are Tiny Homes?

Tiny homes do pretty much exactly what they say on the tin: they offer a place for someone to live, but on a smaller scale than even the most modest starter home. While there’s some debate as to what size tiny homes start at, a good rule of thumb is that any home that offers 500 square feet of living space or less can be classified as one. Other than that, anything goes; many tiny homes aren’t even built on a permanent house foundation but instead on a mobile platform like a trailer or an RV. In fact, the Tumbleweed Tiny House Company calls its products “tiny house RVs” and builds its homes according to the Recreational Vehicle Industry Association certification standards.

The History of Tiny Homes

The history of the tiny home is really the history of humanity, though often out of necessity. Pioneers and settlers would routinely build a modest home to keep themselves safe and warm, often upgrading to a larger one or expanding their existing homes as their families grew. 

Fast forward to around the 1970s when houses began growing in average size, from 1,500 square feet and up – today typical houses can be 2,500 square feet or more – and you’ve got a situation where many houses are so large, expensive, and difficult to maintain that many people decide downsizing is in. Thus, over the past 20 or 30 years, a movement towards living in smaller, more affordable, and more manageable spaces has developed.

The Pros of Tiny Homes

Tiny homes have a lot going for them, and many of these perks make these super-small scale prefab homes a great real estate investment opportunity. Here are some of the biggest pros of tiny homes.

Though retargeting is a useful tool for many types of businesses, it’s particularly strong when it comes to real estate. Real estate requires serious buyers who are able to make a purchase in the near future – and that’s exactly what Google’s real estate retargeting campaign does. By reminding users of your business, you can break through the clutter and stay top of mind when your leads are ready to buy or sell. That’s why it’s so important for real estate professionals to understand how retargeting works and how it can help them best connect with their leads.

What is Google Retargeting?

As any real estate agent can tell you, generating leads is one of the most important parts of selling a home. And while there are multiple ways for lead generation (Google Ads, blogging, networking events, etc.), one of the most effective is through retargeting.

If a user visits your website but doesn’t convert, you don’t want to lose them forever… You don’t want them to show up on another agent’s site when they’re ready to buy or sell a home. With retargeting, your online advertising will follow this potential customer around the web to generate engagement with your brand. Ultimately, this increases the chances that they’ll conduct business with you in the future.

How Does Google Retargeting Work?

Retargeting ads are targeted to users who have already visited your website by placing small pieces of code on your website to track a new user’s “cookies”. A cookie is a small file stored on a person’s computer automatically and used to store preferences and other information.

This code then adds anonymous information about visitors to your site to a list that you create. Later, after a visitor leaves your website, Google Ads will serve ads based on the visitor’s previous activity on your site.

The construction-focused SaaS company Foresite Technology Solutions said today it’s partnering with the global experience platform Lilt to integrate multilingual content within its platform.

Foresite aims to eliminate safety issues for construction workers that stem from communication errors and language barriers, it said in a press release. It points to a 2019 study by the American Council on the Teaching of Foreign Languages, which shows that 42% of construction industry employers in the U.S. “rely heavily on employees for whom English is a second or third language.”

Foresite said that by incorporating multilingual content into its platform, it can help these employees to understand safety hazards and boost their skills, increasing their productivity.

“From the start, we envisioned Foresite as the open platform of choice, connecting strategic partners to drive innovation for our customers,” said Foresite founder and CEO John Gillet. “Our partnership with Lilt highlights how we use leading technology partners, such as Lilt, to improve the construction industry labor force with multilingual upskilling content.”

Lilt offers a platform that combines the expertise of experienced linguists with AI to translate websites, product manuals, compliance materials, technical documentation and e-learning content, providing end-to-end multilingual support for global enterprises.

Research shows that the U.S. housing markets are cooling, with more than 25% of sellers slashing their prices this year. Rising interest rates are the main driver behind this downturn. 

Despite this, some housing markets remain as hot as ever, with home buyers clamoring for real estate in these growing cities.

California has vanished from most lists of places to invest in real estate, while the easterly sunbelt states continue to draw the crowds.

Keep reading to discover more about the hottest housing markets in the USA right now.

The Hottest Housing Markets in the USA 

Increasing prices are only one factor that determines whether a market is hot or not. In the best property markets, home values exceed national averages and expectations, too.

The smart home technology market is no longer a thing of the future. Today, there are touch-screen doorbells, thermostat control via mobile phones, and more, and that’s just the tip of the iceberg when it comes to this growing realm of smart home tech. With that said, it pays to know what today’s hottest smart home technology tools are — not only so real estate agents can tell buyers about them but also so they can pitch smart home technology tools to the sellers of the listings.

What is smart home technology?

Smart home technology is a system of internet-connected devices and appliances, including gadgets and devices. They communicate with each other via a central hub or mobile phone apps. Smart home systems run on X10 or Insteon, Bluetooth, and Wi-Fi.

Homeowners can easily control smart devices from anywhere using a smartphone or mobile app. A smart speaker is the centerpiece of most home automation systems, which can be used to control various aspects of a home, such as lighting and heating. 

Top 10 smart home technology tools

Check out the top ten list of smart home tech, including popular smart home wireless systems that many homeowners would like to have in their homes.

Amazon Echo

Amazon Echo, often referred to as Echo, is a hands-free, voice-controlled device that functions like a speaker and home automation hub. It can play music, provide weather and traffic reports, add items to calendars, stream podcasts and audiobooks, turn on lights and set alarms. It can also control several smart devices.

When you are buying a home there are three types of properties that need more research and due diligence. These kinds of properties include condemned houses, hoarder homes, and short sales.

It is easy to make mistakes when you don’t do your homework. Home buying mistakes could cost you ten’s of thousands of dollars and possibly more.

Buying a property is a big investment. It’s crucial to do your research before you make an offer. Let’s examine each of these types of properties further so you don’t end up losing your shirt.

Condemned Buildings Require Extended Research

When you want to buy a condemned building, whether it is a house or apartment, there is an additional layer of research needed. The definition of a condemned house is one that has been deemed by the local government to be uninhabitable. There are almost always unsafe conditions.

Condemning a house isn’t done without a significant need or reason.

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 askbrian@realtybiznews.com.

Question from Skylar in MA: Hi Brian, I’m feeling lucky because the real estate agent that I talked to today says that home prices in the Springfield, Massachusetts area have gone down a little compared to last year. This is happening at the same time my loan application was pre-approved. I’m not happy about the interest rate but I am feeling a lot more confident about being able to buy a house than I was a month ago. In fact, after learning house prices have gotten a little lower, I’m rethinking my strategy. With everything that I’ve read, I thought I’d be heading into multiple bidding wars and have to pay above the asking price. Now, I’m thinking that when I find a house that I want, I should make an offer below the asking price. This is an entirely new thought for me. How low of an offer do think might be acceptable? The houses that I’m looking at are listed slightly above $200K.

Answer: Hello Skylar. There is not a universal or even general answer to your question about how low of an offer is likely to be accepted. This type of situation depends on what is happening in your local area. I suggest you have a detailed conversation with your agent including asking for assistance determining what a reasonable first offer should be (after you find a house that you want to buy). What I can do is give you some general thoughts about the subject of purchase offers below the asking price. This should help you have a more productive and informative conversation with your agent.

Skylar, it does sound like you understand that your local market might be shifting from a seller’s market towards a buyer’s market as indicated by falling house prices. Another point you should keep in mind is that you have your mortgage pre-approval. The higher interest rates are knocking a lot of buyers out of the market. It might not yet be a buyer’s market (something to talk to your agent about) but it is becoming more of a balanced market. That is when careful negotiations can get you a better price or overall deal.

In a balanced market, the listing price is just the starting point for what a reasonable seller should expect the final price to be. Two important considerations are the condition of a specific house and the number of days that house and other houses in the neighborhood have been listed for sale (days on market). However, there are many other factors to consider such as the number of beds/baths and the desirability of the floor plan. For instance, if one house is only in “fair” condition and another with basically the same floor plan is in “good” condition, buyers are going to pay more for the house in better condition. Unless there is some other mitigating circumstance such as the “good” house being on a high-traffic street. It gets complicated.