Will Urban Homes Appreciate Faster Than Suburban Homes?

Housing trends appear to be changing – with many Americans trading in commuting for more urban lifestyles...(More)

Appraiser Reality Check

There's a lot of pressure on appraisers to come up with a Fair Market Value that equals or is greater than the agreed upon sales price; sometimes that can cause bad things to happen...(More)

Adjusting to a New Job

Sometimes you change jobs, other times, reorganizations or a new boss dramatically changes the job you have. Either way, these suggestions can help you adjust and perform more efficiently...(More)

Will Urban Homes Appreciate Faster Than Suburban Homes?

New suburban homes on generous lots have been the star attractions in the recent housing boom, but there are some indications that the lure of the suburbs is beginning to decline.

Research by Arthur C. Nelson of the Metropolitan Institute of Virginia Tech indicates that there will be a surplus of suburban homes by 2025. In fact, one in three homeowners said they would rather live in a community where things were within walking distance.

Those seeking a more urban environment include empty nesters, professional 20-somethings, and single women. In every case, convenience is a main attraction – urban environments are more likely to have entertainment, restaurants, stores, and health care services within reasonable walking distance.

Developers are already responding to the trend. Not only are they creating condos and loft developments in genuine urban areas, they're also creating new "mini cities" from the ground up.

These mixed-use developments are designed to look like actual town centers, with a park area surrounded by retail and commercial properties, and with residences either above or mixed in. This not only provides the walkable, urban environment so many people desire, it also allows for construction and amenities that appeal to contemporary tastes.

Urban homes are already selling at a premium – with square footage selling anywhere from 40% to 200% higher than traditional suburban homes, according to an article in Atlantic by Christopher B. Leinberger.

Leinberger predicts that as wealthy families opt for more urban lifestyles, today's suburbs could lose much of its tax base, resulting in declines in safety, schools, and other services.

Others believe the suburbs will not really lose their appeal, but will evolve into town-like communities similar to the ones developers are already creating.

Urban or suburban – which will families like yours be choosing in the next decade?

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However, the buyer, seller, and lender all want the appraisal to match or exceed the agreed upon selling price. This is where potential problems arise.

A 2007 study by October Research reported that nearly 90% of appraisers in the survey reported pressure to inflate values from lenders, real estate agents, mortgage brokers, borrowers and others. In fact, three-quarters of the appraisers stated they felt that if they didn't cooperate, they expected negative ramifications from fewer referrals to total loss of business.

Taken on a home-by-home basis, a little fudging on the part of an appraiser to make the buyer, seller, lender, and agent for a home all happy, may not sound too terrible. However, according to a study cited in an article by Curtis Seltzer, in 2006 these over-appraised homes added up to approximately $135 billion in non-existent, additional value.

With the housing market struggling, these problems could very well increase. While a false appraisal makes everyone feel good about a home transaction, in the long run it can lead to more foreclosures and lower property values.

There are state and federal laws that appraisers must follow – and ethical appraisers do just that. However, the pressure to over-appraise is strong, and unethical appraisers are the ones who benefit by giving in to that pressure.

The Fair Market Value for a property should be just that; pressuring appraisers to deliver anything else is bad business for everyone.

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Whether you wanted the change or not, adjusting to a different work environment can be challenging. Having a positive, upbeat attitude about the change is the first (and biggest) step, but there are a lot of other steps you can take to make your new position feel "like home."

Dress professional. It's best to be at your most professional when interviewing, but once you're on the job, dress in a similar manner of those around you.

Get to know people. Make a strong effort to learn names as fast as possible. Introduce yourself and ask people what their roles are and how the group works together. If you don't know what to do or where to go for some task, ask one of the people you've met – it's never too soon to start a professional relationship.

Take command of your work area. As much as your workplace allows, make your work area fit your work style. Clean off equipment and work surfaces assigned to you with pre-moistened wipes to remove any germs left behind by others. Determine if files left behind are still necessary or if they should be placed elsewhere.

Organize computers, telephones, and writing surfaces in a way that suits you. Adjust your chair for comfortable seating. Make sure you have all the passwords you need to access necessary files on your computer. Set up your mailbox(s) on your voice mail system and learn the basics for forwarding calls and other common phone needs.

Ask and learn. Start to ask questions right away because everyone expects it then. Sit down with your supervisor to establish exactly what is expected of you and determine goals and objectives for your job. Listen carefully to everything you learn, and make notes that you can refer to later.

In fact, make notes of everything – a lot of information will be coming at you fast. If you receive instructions that you're not sure about, repeat them back to the person you're talking to as you understand them.

Use your newness. You can bring new thinking and new ideas to your team. Just be careful to present them in a way that does not belittle traditional approaches, but instead builds on them. Approach any suggestions you have as a team player, and soon you truly will be a welcomed part of the team.

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Meet New People...At Home and Away.

Far too many people feel lonely or disconnected, especially when they are in a new environment. However, with the right techniques, you can meet new people wherever you are.

In Your Neighborhood.

On a pretty day, go for a walk. If you have a friendly, well-behaved dog, take it along. Take time to wave, smile, and say "hello" to people you see. Make people aware of your presence so they won't be startled when you speak.

If you encounter someone who looks relaxed (not battling kids or taking a run), open a conversation in a relaxed, casual way. You could introduce yourself if you are new to the neighborhood or say something like "I don't think I've met you before" if that is the case. Ask a question that has something to do with the area – request a recommendation for a dry cleaners or restaurant; or ask about any neighborhood association. Don't ask personal questions but do try and exchange names and make a closing statement about hoping to see the person again.

Out and About.

When shopping, you can use the products as an excuse to strike up a conversation. Ask if someone is familiar with a brand, a writer, or a way to cook something. People are usually glad to help…and you may find you have a common interest.

In fact, finding a common interest is an excellent way to not just meet someone, but to make a new friend. Classes of any kind – from art, to exercise, to cooking – provide that opportunity. Plus, with regular meetings, you get a chance to build a relationship over time.

Volunteer activities also offer a good opportunity to meet people. After working together in a soup kitchen, at a library book sale, or some other activity, ask some of your fellow volunteers to join you for coffee. By working together, you automatically have a subject to talk about.

On the Road.

When traveling, your camera is a good tool to opening a conversation. Ask someone to take your picture in front of some landmark, or offer to take their picture with their camera. Couples often come back from a trip without a single picture of the two of them together – your offer will be welcomed. Use this opportunity to ask what else is of interest to see in the area, or how to get to a particular place.

With the long waits in airports these days, awaiting passengers are more likely to talk to each other. You can usually tell a vacationer from a business traveler by their attire and attitude. Ask them if they're on a holiday and you have the ideal opener for a conversation about places you have both visited.

Whenever you start to talk to a stranger, be sure that you stay conscious of signs that the person is uncomfortable with the conversation. That's when you smile and say, "It was good talking to you," and move on to another opportunity.

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