With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Has the future finally arrived, and do we now have the long awaited self sufficient home? Terry believes we’re getting one step closer with innovations such as Amazon’s Replenishment Service where machines at home, such as printers or appliances, automatically reorder supplies when needed. For example, your laundry machine could automatically place an order for detergent when it’s running low—one less thing for you to worry about on your to-do list! Sounds kinda nice and promising and could help us cut down on a lot of routine chores.
Changing gears, more 55+ home owners now are selling and moving into rental properties, causing an increase in rental prices, particularly for high-end luxury rentals. This rise is attractive to real estate investors and is fueling a selective construction boom. The rental market is also attractive (and often the only option) for many people who were adversely affected by the 2008 economic downturn and who haven’t yet been able to qualify for a mortgage. Another reason rental properties are hot right now.
Finally, a lot of people don’t trust traditional FICO credit scores, causing online lenders, such as Social Finance of San Francisco, to switch to other measures of creditworthiness. These lenders offer personal, student, and home loans by looking at more forward-thinking credit measures and by discounting one-off factors, such as job losses during the 2008 crisis. These factors are often better indicators for predicting someone’s creditworthiness.