PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO
Vol. 10 No.11
July 30, 2018
www.csrej.com
Many owners lack sufficient insurance to cover disasters Many homeowners have limits on their home insurance policies that are too low to cover the full cost of repairing or rebuilding in case of a natural disaster—and the problem is particularly alarming in areas at risk of hurricanes and flooding, The Wall Street Journal reports. Catastrophic damage left in the wake of Hurricanes Har-
Jamestown, Colorado, Sep. 15, 2013 | Photo by Steve Zumwalt, FEMA
vey, Irma, and Maria last year revealed a widespread lack of full insurance coverage for many homeowners in Texas, Florida, Puerto Rico, and elsewhere, according to the Journal. The problem is that while many homeowners may have home insurance, their policies are too low or they don’t have flood coverage, which generally must be purchased under a
Realtor® force grows 6% as rookies
The median age of a REALTOR® is 54, up slightly from the last two years when the age was 53. Sixty-three percent of REALTORS® are female. Many REALTORS® came to the industry from different careers. Only 5 percent of REALTORS® report that real estate was their first career. The most common first careers reported are in management, business and finance, or sales and retail. As housing shortages abound and more REALTORS® enter the industry, the typical number of transactions among agents decreased slightly from 12 trans-
See Insurance | Page 2
flock to NAR
actions in 2016 to 11 transactions in 2017. The median brokerage sales volume fell to $1.8 million in 2017 (from $1.9 million in 2016). “A familiar story lingers from last year, as limited inventory continues to plague many housing markets across the country,” Yun notes. “For the fifth year in a row, the difficulty finding the right property has surpassed the difficulty in obtaining a mortgage as the most cited reason limiting potential home buyers.” © Copyright National Association of Realtors. Reprinted with permission.
HBA Party on the Patio
2018 Parade of Homes Preview
Jay Gupta's June Housing Stats
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Mobile Issue (Beta)
Newcomers to the real estate business are joining the REALTOR® family in droves. The number of REALTORS® rose from 1.22 million in March 2017 to 1.3 million in April 2018, according to the 2018 National Association of REALTORS® Member Profile, released this month. There are more rookies hopping on the bandwagon too: 29 percent of members now have less than two years of experience. (Members of NAR account for about half of all active real estate licensees in the U.S.) “While inventory shortages continue and home prices remain high, NAR has seen a whopping 6 percent increase in membership over the last year,” says Lawrence Yun, NAR’s chief economist. “Younger Americans are seeking business opportunities that working in real estate provides, but the overall trend is a slightly older age profile.”
separate policy. “Many people thought that they had a fully insured home or fully insured business” before last year’s storms, says Iraelia Pernas, executive director of Acodese, an industry group for insurers in Puerto Rico. “They discovered that there were some exclusions in their policies.”
National News............ Page 2 Local News................ Page 8 On the Move.............. Page 13 Local Expert.............. Page 14 Around the Corner....... Page 15
Honest & Ethical Service from People You Know. Debbie Havens
Joe Drew
(719) 264-1967
(719) 266-6155
Loan Officer Assistant
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Branch Manager 1730 Chapel Hills Drive Suite 100, Colorado Springs, CO 80920
HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website. Corp NMLS #3113
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debbie.havens@academymortgage.com
Loan Officer
joe.drew@academymortgage.com
Amanda Smith
(719) 264-1952
amandas@academymortgage.com
Nathan Johnson
Loan Officer
Samantha Barton
(719) 264-7972
Loan Officer Assistant
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nathan.johnson@academymortgage.com
(719) 424-7220
samantha.barton@academymortgage.com MAC218-1453439