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6 ways to adapt to the new virtual world in real estate
Sam Radbil Business Management, Services & Risk ManagementThere are few businesses that lend themselves to the virtual world as well as real estate. Before the COVID-19 stay-at-home orders were in place, many people in the real estate business were beginning to introduce virtual and 3D tours to their markets. Read on to find out about six ways to adapt your real estate business to the virtual world.
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Lending through the coronavirus pandemic
Chad Jampedro Business Management, Services & Risk ManagementCOVID-19 has caused a lot of misinformation to circulate concerning loans and other financial aspects. Cutting through this noise has been increasingly difficult as more and more sources publish information about government loan opportunities and other lending opportunities amid the crisis. This complex financial climate can confuse anyone. There are many questions about mortgages, consumer lending, small business loans, and so much more during these uncertain times. Here are some of the most common questions we’re hearing about lending and mortgages.
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Infographic: 11 smart devices to reduce home strain
Sarah Hollenbeck Interior Design, Furnishings & FixturesWhen the pandemic hit, many consumers weren’t accustomed to spending all their time in their homes. And it turns out, some of their homes weren’t ready for it either. Home strain has become a big issue in the past few months, as many appliances and devices are getting used more than ever before. But in between repair appointments, there are things homeowners can install throughout their homes to prevent minor issues from turning major.
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Tracking how we view interior design
Michael J. Berens Interior Design, Furnishings & FixturesWalk into a room and the mind immediately begins to note its characteristics. As the eyes scan the objects before them, they register the quality of light, color, texture, contrast, arrangement, what is familiar and what is unfamiliar. In a matter of seconds, the brain processes all that information and generates an emotional reaction to the space. What happens in those few seconds, where do the eyes go, and how might our understanding of that process help improve the way spaces are designed in the future?
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Homebound homeowners pursue remodeling projects
Michael J. Berens Construction & Building MaterialsLike other sectors of the housing industry, remodeling services have experienced a substantial drop in demand as a result of health and safety concerns arising from the COVID-19 pandemic. At the same time, being confined to home has given homeowners plenty of time to think about improvements they’d like to make. Now with parts of the country beginning to open up, remodelers in some areas are seeing an increase in inquiries and project scheduling, suggesting activity may resume fairly quickly once conditions allow.
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Reshaping your business for the new normal
Lloyd Princeton Interior Design, Furnishings & FixturesEven in the most optimistic scenario, the repercussions from the COVID-19 pandemic will have a profound impact on how we go about our lives — and thus, on the spaces we live in — for months, probably years to come. We will need to adapt to new ways of interacting with one another and adopt new behaviors to ensure our safety and that of our loved ones and neighbors. And perhaps as never before, the home will function as the nexus of our daily activities.
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Luxury home market poised for quick rebound
Michael J. Berens Construction & Building MaterialsAs with other sectors of the housing market, sales of luxury homes in the U.S. plunged in late March and April as most of the country came under stay-at-home orders. Domestic clientele decided to hold back, and with many other affluent countries facing similar restrictions, including bans on air travel, the pool of international buyers and investors soon evaporated. Sellers quickly began to pull their properties off the market, further reducing opportunities for sales. In recent weeks activity has begun to revive, however, and industry insiders anticipate that sales will start to rebound by early summer.
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Health concerns are reshaping the housing landscape
Michael J. Berens Construction & Building MaterialsAs expected, home sales plummeted in April, the first full month during which much of the nation was under orders to remain indoors. Nonetheless, in some parts of the country buyer demand continued to outstrip supply, and prices increased due to inventory shortages. Without question, the health crisis created by the COVID-19 pandemic and its consequences for social interaction are having a significant impact on real estate markets and communities.
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VR goes to work in interior design
Michael J. Berens Interior Design, Furnishings & FixturesConfronted with the need to maintain social distancing and minimize direct contact with clients, many design firms have turned to visualization tools such as augmented reality (AR) and virtual reality (VR) during the past few months as means of increasing engagement with clients and facilitating virtual design planning and decision-making. This is likely to be merely the first step towards tapping the considerable potential these of technologies.
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Early indicators signal mixed recovery for remodelers
Michael J. Berens Construction & Building MaterialsWhen the economy begins to regain momentum, will demand for remodeling services bounce back? Or, will homeowners proceed more cautiously for some months, waiting to see if conditions improve and the housing market stabilizes? Industry analysts in recent weeks have proposed both scenarios. At present, a third scenario seems more likely, that some homeowners will want to move ahead with projects right away, while others will choose to wait.
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