S & J Journal

Homeowners are showing a bigger appetite for smart home technology. Nearly half of consumers – 46% – say it's important their current home or the next home they purchase have smart home technology, according to a survey of nearly 2,500 consumers, conducted by ERA Real Estate and HGTV . Survey respondents had recently participated in an HGTV national focus group on smart home technology. Homeowners and buyers say they see the value in smart home technology for comfort, safety, and cost savings, and 51% surveyed say they would consider installing smart home technology in their home to make their home more marketable to future home buyers. The younger segment of the millennial generation is the most likely age group to spend money on smart home technology – 10 times more likely than the percentage of generation X members who say they'd consider adding smart home technology to their homes, the survey reported. "While still a growing trend, smart home enhancements have

Through September of 2014, Miami had the No. 8 new construction market in the country. According to fresh numbers from Dodge Data & Analytics , Miami’s construction starts for the first nine months of 2014 totaled $6 billion, an strong 19 percent increase over the same period in 2013. Indeed, such numbers are consistent with what we constantly hear from real estate professionals. As Claudio Stivelman , the CEO of S2 Development, explained to us, “Unlike 2007, this development cycle is being carefully guarded by the development industry. Builders and lenders alike have learned to avoid speculation by vetting projects and making sure they are financially sound and secure prior to breaking ground … the demand and strength of the domestic and foreign economies continue to allow Miami to become one of the most sought after markets in the country.” Read more at Miami Agent magazine .

 Join Us for a Discussion of Education Feform in Florida's Public Schools What is Common Core?  How about the Sunshine State Standards?  Join the Good Government Initiative as we discuss the pros and cons of the latest attempt at education reform in Florida's public schools - the benefits, the politics, and what the future holds. Featuring: Miami-Dade County Public Schools Superintendent Alberto Carvalho, Miami-Dade County Public Schools teacher and Florida State Senator Dwight Bullard, Miami-Dade Public Schools Board Member Raquel Regalado, and University of Miami's School of Education and Human Development Senior Associate Dean Walter Secada. Moderated by President and CEO of the Good Government Initiative Katy Sorenson. 11:30 am registration, 12 noon lunch and 12:30 pm conversation Register Now! $35 Individual Ticket $50 GGI Contributor $20 ECOB (Engaged Citizen on a Budget) $10 Student (with valid I.D.) Monday November 24, 2014 from 11:30 AM to 1:30 PM

Florida had more cash sales in the third quarter of 2014 than any other U.S. state, and a closer look at metro areas finds five Florida cities in the top five – and eight in the top 10. The data includes both single-family homes and condos. According to RealtyTrac'sQ3 2014 U.S. Institutional Investor & Cash Sales Report, the state also has four of the top 10 cities for cash sales by institutional investors – buyers who purchase 10 or more homes per year. In the third quarter (July-September), over half of all Florida sales (53.5 percent) were all-cash. Only Maine came close with 50.0 percent, followed by Alabama with 42.2 percent. Still, the percentage of all-cash Florida sales has declined over time. In the second quarter it was 57.6 percent; a year earlier, it was 56.2 percent. Drilling down by metro area, Florida is also home to the U.S. leader: In Miami-Fort Lauderdale-Pompano Beach, two out of three sales are all-cash (59.1 percent), though in both the quarter and a

People from other countries and other states are pouring into Florida again, a sign of the state's recovery from a long period of economic doldrums and slow growth. Recently released U.S. Census numbers show that Florida's foreign-born population increased by 140,000 from 2010 through last year. And movement within the United States left Florida with a net gain of 105,000 residents last year and 109,000 in 2012 — 84% more than in the previous two years. The population surge has accelerated this year, according to state estimates, growing at a rate of about 700 new residents a day. That's a healthy increase, though still less than the big migrations during the Sunbelt boom of past decades. For many job seekers, South Florida has become a hip beachside destination with a nexus of entrepreneurs, investors, a big consumer market and a gateway to Latin America. Read more at Sun-Sentinel.com

With 8,000 baby boomers expected to retire daily for the next several years in the U.S., Southwest Florida stands to benefit from a massive influx of home buyers, the chief economist of the National Association of Realtors believes. Lawrence Yun said the baby boom influx will not be just from the U.S. states, because the phenomenon was not limited to America. "After the war, servicemen came home and started having babies," Yun told an audience of 200 Wednesday at the annual Sarasota International Real Estate Conference. "The same thing happened all over the world." Already, half of all foreigners who buy real estate in Florida are retired. In all, foreign buyers make up about 10% of the state's buyers, Yun noted, though locally that figure may be higher. While German buyers tend to acquire property in Naples—partly because there's a direct flight from Dusseldorf to Southwest Florida International Airport outside Fort Myers—Sarasota attracts

Starting October 5th, the Coral Gables branch of Miami-Dade County Public Libraries will be open: Monday-Friday , and  Sunday 10 a.m. - 6 p.m. Tuesday  and Wednesday 12:00 noon - 8 p.m. Closed on Thursdays 3443 Segovia Street Coral Gables, FL 305 442 8706

Although sales and inventory are up in the state of Florida, nationally home sales are down, 1.8%, and investors have retreated because inventory of distressed properties has gone down. From The Washington Post article:  "Cash buyers retreat from housing market, cooling home sales": Sales of previously built homes dropped last month in part because investors paying all cash to buy foreclosures retreated once the supply of distressed properties shrank, a real estate industry group reported Monday. The National Association of Realtors said that existing-home sales fell 1.8% in August from the previous month to a seasonally adjusted annual rate of 5.05 million. The performance — which captures sales completed last month — is also down 5.3% from a year earlier. The results signal yet another stumble in the housing market’s stilted housing recovery, though Realtors tried to put a positive spin on the development. The group said that having investors retreat from the market

Florida's housing market saw higher median prices and a rising inventory in August, according to the latest housing data released by Florida Realtors®. Closed Sales of single-family homes statewide totaled 21,742 last month, up 4.9% over the August 2013 figure. "For several months now, stability and consistency are key trends we're seeing in Florida's housing market, as the state's jobs outlook remains steady and the economy continues to grow," says 2014 Florida Realtors President Sherri Meadows, CEO (and team leader, Keller Williams, with market centers in Gainesville, Ocala and The Villages). "The statewide inventory (active listings) for single-family homes last month rose 13% year-over-year, while the townhouse-condo inventory of active listings rose 8.9%." Read more at FloridaRealtors.org

Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce. Sales of existing homes (as opposed to new construction) fell 1.8% to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snapped a four-month streak of gains. August sales were down from a July rate of 5.14 million, a figure that was also revised slightly downward.   Much of the decline came from the exodus of investors , who had been buying properties in the aftermath of the housing bust and recession. Investors accounted for just 12% of August purchases, compared to 17% a year earlier.   Overall, the pace of home sales has dropped 5.3% year-over-year.   The August figures show that real estate recovery has depended largely on investors and all-cash sales, instead of families looking to purchasing a house.  "It is apparent that much of the juice in the existing-home sales market remains centered

Southern Wine and Spirits of America’s Chopin for All  FREE Concert Series presents a Piano Recital by Young American Pianist, Ivan Moshchuk The Chopin Foundation of the U.S. opens the new season of Chopin for All FREE Concerts  on October 11 & 12, 2014, with young outstanding American pianist, Ivan Moshchuk, in an all-Chopin program.   Each concert in the Chopin for All series is presented twice: On Saturday at Broward County Main Library in Fort Lauderdale, and on the following Sunday at Granada Presbyterian Church in Coral Gables. FREE ADMISSION No Tickets Required Saturday, October 11, 2014 at 3:00 PM, Broward County Main Library, 100 S. Andrews Ave, Ft. Lauderdale Sunday, October 12, 2014 at 3:00 PM, Granada Presbyterian Church, 950 University Drive, Coral Gables Twenty-three-year-old Ivan Moshchuk is among the most promising young artists of his generation, aiming to redefine the limits of classical music in the context of the 21st century. When asked about

Strong stock market gains and higher home prices boosted Americans' net worth in the 2014 April-June quarter to a record high, a trend that could encourage more spending . U.S. households also took on the most new debt in five years, driven mostly by student and auto loans. More borrowing can be a sign of confidence, although greater student debt can pose a burden for younger households. The Federal Reserve said Thursday that household wealth rose 1.7% in the second quarter of 2014 to $81.5 trillion. Americans' stock and mutual fund portfolios gained $1 trillion. The value of their homes increased $230 billion. Greater wealth can make people feel more financially secure and encourage them to spend more. This " wealth effect " could boost the economy, although analysts note that it may not produce as much benefit as it did before the Great Recession . That's because most of the wealth gains over the past five years have occurred in the stock market, rather tha

  The number of people boarding cruise ships within the nation dropped last year for the first time since the recession, but passenger counts increased globally and in Florida, according to a new report from the Cruise Lines International Association . Last year, 9.96 million people embarked on cruises from U.S. ports, a 1.3% drop compared to 2012. Though, globally, the number of passengers taking cruises on North American cruise lines increased nearly 4% to 17.6 million, according to the Miami Herald. Florida remains a cruise industry powerhouse, with the number of embarking passengers increasing 1.3% to 6.15 million in 2013. Miami led the growth with more than 2 million passengers boarding ships, a 6.8% increase; Port Everglades in Fort Lauderdale saw a 2.7% increase to more than 1.8 million embarking passengers. Read more here .

U.S. cities traditionally develop relationships with foreign cities for diplomatic, cultural or educational purposes. But more and more are looking to them for economic development.   Sister Cities International reports that in the past several years more and more cities have been approaching the organization asking for help to expand their existing partnership toward economic development.   The shift began following the Great Recession, when many local governments began an earnest push to expand economic development and business opportunities beyond not just their immediate borders, but across international borders, said Adam Kaplan, membership director at Sister Cities International. Cities that already had sister city relationships began asking if those relationships could be used to stimulate trade and whether they could do so on their own, without the federal government’s help.)   Read the full article at Governing.com . . .

When the 2015 Legislature convenes in Tallahassee, it is expected to have nearly $30 billion in General Revenue to create the state budget for FY 2015-16, according to a Budget Watch from Florida TaxWatch, the privately supported think tank examining government spending. However, after this month's GR Estimating Conference, the new General Revenue projection is $141.6 million less than previously thought. The state's estimators attribute the scaled back projections to normal fluctuations, not any underlying weaknesses in the economy. The final estimate for next year's budget won't be announced until March. For the fiscal year ending June 30, 2014, actual GR collections fell short of projections made last March by $106 million. The revenue collection estimates for the current fiscal year (2014-15) were increased by $49.2 million, but the estimates for the next year (2015-16) were lowered by $84.1 million. Estimates for the sales tax, the largest source of General

MIAMI – Aug. 25, 2014  Three years into South Florida's impressive housing recovery, demand for existing condos is showing signs of sputtering, even as single-family home sales chalk up new highs. Blame the condo headwinds on stiff competition from a wave of glittering new-condo construction that is remaking the skyline and cementing South Florida's place as a magnet for foreign money. Meanwhile, prices on existing condos have skyrocketed, making them less attractive to investors. And traditional home hunters face tough mortgage guidelines even more stringent for condos than for houses. In Miami-Dade County, the volume of existing condo sales fell 8.8 percent in July to 1,403 units from 1,538 a year earlier; and they were down 2.8 percent from June, the Miami Association of Realtors said. Year-over-year sales of existing condos in Miami-Dade have declined every month since February, though sometimes by small amounts. Read more

An inventory crunch for entry-level houses has only worsened during the past year as discounted foreclosures become scarce and cash-paying investors snap up affordable listings to convert to rentals. Properties at the lower end of the market are also the most likely to have underwater mortgages, keeping would-be sellers from moving. Read more at Bloomberg .

Florida economists are projecting that the state's economy will continue to remain in good shape over the next few years. State economists met Thursday to predict how much the state is expected to collect in taxes. Gov. Rick Scott and legislative leaders rely on these forecasts to determine whether the state has a budget surplus. Preliminary forecasts show that the state's main budget account could grow nearly 4 percent during the fiscal year that started in July. The preliminary estimates show a roughly 4 percent growth in the fiscal year that starts in July 2015. That's a slight dip from March forecasts. One big reason is there has been a drop in corporate income taxes. SOURCE:  See more at TALLAHASSEE (Associated Press)       

If a South Florida group has their way, Miami is about to get a whole lot greener. The Greenlink Project would create the largest linear park ever, one that would stretch 10 miles long from Brickell to Dadeland right underneath the Metrorail. "The vision is to connect eight transit stations to one linear park," Meg Daly, Greenlink Park's founder, tells CBS Miami. The proposed park, which has been described as Miami's answer to NYC's High Line , has already drawn about $2 million in commitments so far, Daly says. The High Line, to be fair, cost about $180 million to build. In turn, it's generated an estimated $3 billion in real estate investment for the New York area. Beyond funding, others have raised worries that an FPL plan for 100-foot new towers along U.S. 1 could also imperil the idea, though FPL says the two projects aren't necessarily incompatible. "I know some people have suggested that the transmission line would basically rule ou

CHICAGO – July 30, 2014 – A conducted by Pollara survey and released by BMO Harris Bank found that 68% of Florida homeowners believe the value of their home will go up over the next 12 months, and 13% expect the value of their home to go down. Over the past year, 61% of Floridians felt their home's value had increased, and 24% thought it had gone down. "Market prices overall continue to indicate that we are in a recovery, and this was reflected in our survey results with buyer optimism," says Sheila Blom, head of Florida mortgage sales for BMO Harris Bank. "We've seen this reinforced by an increase in home buying activity this year." Florida homebuyers 30% of those planning to buy say market activity caused them to delay a purchase.  20% say current market activity will likely cause them to buy a new home sooner than they otherwise would. Read more

 The nation’s most closely watched governor’s race, the battle for the Florida governor’s mansion, just got even more interesting. It turns out that the bitter fight between Republican incumbent Rick Scott and his predecessor, Republican-turned-independent-turned Democrat Charlie Crist, may be doing more than causing voters to turn off their TV sets to avoid the omnipresent and nasty TV ads from both sides. The negative air war has created an opening for a third-party candidate who is unknown to more than nine in 10 voters and is scoring in the polls because Mr. Scott and Mr. Crist have so turned off parts of the electorate. It’s not that Libertarian Adrian Wyllie has a serious chance to win the governorship, but a Quinnipiac Poll of registered Florida voters out this morning shows that he could decide which of the major party candidates emerges as the winner. In a two-way race, Mr. Crist leads Mr. Scott 45%-40%, down from a 10-point lead three months ago when Quinnipiac la

Bright beams pierced the banyan trees peppered throughout Coral Gables’ Granada Golf Course last Sunday night as hundreds of visitors flashed the night sky searching for a quick glimpse of the recently discovered bonneted bats. Calls from crickets and other insects camouflaged the their high-pitched squeaks as two of the bats swiftly swooped and fluttered above the multitude of guests. The bat watch was organized by a Florida International University biologist, Kristen “Kisi” Bohn, who discovered the bats in late 2012 when she moved three blocks away from the course. “We put this together pretty quickly because I wanted to take advantage of the momentum. Tonight was really an info session for the public,” Bohn said. As the bat news began to go viral around the Coral Gables community, Bohn’s email began to flood. For Bohn, who believes there might be around 20 to 40 bonneted bats living in the area, the most important goal for this event was twofold. Not only was it aimed as a w

WASHINGTON (AP) — The globe is on a hot streak, setting a heat record in June. That's after the world broke a record in May.   The National Oceanic and Atmospheric Administration announced   Monday   that last month's average global temperature was 61.2 degrees, which is 1.3 degrees higher than the 20th century average. It beat 2010's old record by one-twentieth of a degree. While one-twentieth of a degree doesn't sound like much, in temperature records it's like winning a horse race by several lengths, said NOAA climate monitoring chief Derek Arndt. "We are living in the steroid era of the climate system," Arndt said. Arndt said both the June and May records were driven by unusually hot oceans, especially the Pacific and Indian oceans. Heat records in June broke on every continent but   Antarctica , especially in New Zealand, northern South America,   Greenland ,   central Africa   and southern Asia. The United States had only its 33rd hott

As far as solar energy goes, the Sunshine State is third in the country for potential -- and 18th in actual installation. In Florida, there’s no financial assistance for installing solar panels on your roof. Solar energy users can only take a federal tax credit. Florida Power and Light powers the state using mostly natural gas. Out of all the energy FPL provides, only 0.06 percent comes from solar energy. The only way to get solar panels installed on your roof is to call an independent contractor. Read more at wlrn.org . 

In case you missed it, two recent developments clearly demonstrate why America remains “bullish” on solar energy. But they’re also vivid reminders of why we need to remain vigilant. As an organization, and as an industry, too much is at stake for us to become complacent. As the old saying goes on Capitol Hill: “What Congress giveth, Congress can taketh away.” This week, a new report by the U.S. Energy Information Administration (EIA) predicts that most new electric generation capacity in the United States through 2040 will come from natural gas and renewable energy. Of the 83 gigawatts (GW) of renewable capacity additions being forecast, nearly half is expected to come from photovoltaic (PV) systems. Today, solar is the fastest-growing source of renewable energy in America – and, as this report bears out, it will continue to be for years and years to come. The rapid deployment of solar nationwide will create thousands of new American jobs, pump hundreds of billions of dollars into

BMW agreed to spend billions of euros increasing its orders of Samsung batteries as the world’s largest maker of luxury cars expands its line of electric vehicles. BMW is planning to increase its purchases of SDI battery cells for the electric i3 city car and the plug-in hybrid i8 sports car as well as for “additional hybrid models” in the coming years.  “The battery is a key component in every electric vehicle—since it basically determines the range and performance capabilities of the car,” Klaus Draeger, BMW’s purchasing chief, said in the statement. “In Samsung SDI, we have chosen a supplier that offers us the best-available technology with future-oriented Korean battery expertise.” The deal paves the way for BMW to secure supply of batteries—the most expensive part of an electric vehicle—as it rolls out the i8 and i3 to counter inroads by Tesla Motors into the luxury-car segment. For Samsung SDI, which supplies batteries to Apple Inc., the order builds on the company’s plans

For the fifth year in a row, Florida was the favored destination of international homebuyers, according to a   report   Tuesday from the National Association of Realtors . The Sunshine State accounted for 23 percent of all deals from foreigners. California was second at 14 percent, while Texas was third at 12 percent. The report is based on sales from April 2013 through March 2014. NAR has issued the report since 2010, and Florida has been the top choice each year. Nationwide, there were $92.2 billion in sales from international buyers, up from $68.2 billion the prior year. Nearly 60 percent of all U.S. sales from foreigners went for cash. Only a third of domestic buyers didn’t take out a mortgage.    Full story at Sun-Sentinel . . .

"With housing markets across the state picking back up, the trend is being mirrored throughout Florida. Membership in Florida Realtors, the statewide trade group, rose by nearly 12,000 members — or 10 percent — to 127,430 at the end of last year from the recent trough in 2011. But that is still down 42,000 from a recent peak in 2006." Read the full story at Sarasota Herald Tribune  . . .

 In RealtyTrac's May 2014 Residential & Foreclosure Sales Report, U.S. residential properties (single family homes, condominiums, and townhomes) sold at roughly the same rate as they did one month earlier, and less than 1% higher year-to-year. However, total sales include a lot more "normal" sales than in recent months, causing, in part, a median sales price ($180,000) rise of 6%  month-to-month and 13% year-to-year. May's year-over-year increase was the second consecutive month with a double-digit annual increase in U.S. home prices, and the biggest annual increase since U.S. home prices bottomed out in March 2012. In May U.S. distressed sales and short sales combined accounted for 14.3% of all residential sales—a drop from 15.6% of sales in April and down 15.9% in May 2013. "Distressed sales continue to represent a smaller share of the overall sales pie nationwide, helping to boost median home prices higher given that distressed sales tend to be i

  Applying @SimonSinek's " Start With Why ", Inman News looks at tapping into your clients’ reptilian brain to learn what they really want in a house.  Read more at Inman News . . .

National apartment occupancy hit 95% during May -- a level not seen since at least 2006, when the real estate market was still booming, according to an apartment data and research company. [Source: Sarasota Herald-Tribune ]

The report " Buying In: An Analysis of International Homebuyers in Florida "  projects that Florida will sell an estimated 60,000-plus homes to international buyers through 2016. Most international investment in the Florida housing market comes from Latin America and the Caribbean, Canada, and Europe—nearly 90 percent of Florida home purchases by international buyers. "International homebuyers not only bolster Florida's housing market, they also impact Florida's economy as a whole," says Jerry D. Parrish, Ph.D., Florida TaxWatch Chief Economist. "The sale of Florida homes to international investors increases tax revenue, provides the opportunity to expand tourism, and diversifies the state economy with global exposure." Read more at Florida Realtors .

MIAMI (AP) – June 12, 2014 – As all eyes turn to Brazil for the World Cup, Brazilians in the U.S. are also gaining notice. According to the U.S. Census, more than 325,000 people of Brazilian ancestry now call the United States home, but experts put the numbers higher. Most have come since the late 1980s, first landing in the nation's traditional Portuguese-speaking enclaves around Boston and more recently congregating in central and South Florida. Read the full story at FloridaRealtors.com

Retirement moves, which dropped sharply during the worst of the recession, are making a comeback. Florida, the top draw for movers 55 and older, is gaining about 55,000 older movers each year, more than twice the growth it saw after the housing bubble burst in the middle of the last decade, according to a Stateline analysis of Census Bureau numbers. Florida's annual growth for this age group is 138 percent. Read more at Florida Realtors . . .

Miami had a pretty good 2013. From one end of the price spectrum to the next, home sales were on the rise. Sales of the priciest homes, designated by their $2.9 million and above price tag, were up 26 percent and the other 99 percent were up seven percent. Source:  Miami Agent Magazine (read more: http://miamiagentmagazine.com/looking-luxury-home-everyone-else-miami/#sthash.0yYWst61.dpuf )

Overall construction spending in the U.S. economy rose 0.2% from March to April and 8.6% from April 2013, reaching a seasonally adjusted annual rate of $953.5 billion. That was the big finding in the Census Bureau’s latest construction report, which also found that for the first four months of 2014, construction spending has amounted to $274.5 billion, or 8.9% above where it was during the same period in 2013. On the surface, those are all great stats, especially given how shaky construction has been so far this year; however, as with all things construction in the post-bubble marketplace, things are not quite what they seem with the Census Bureau’s report, and we have multifamily housing to thank for that. The Overwhelming Effect of Multifamily We may seem a bit obsessed with multifamily housing , considering how often it pops up in our construction-related stories, but it really is at the center of the new construction marketplace right now, and April’s numbers only offered

Ask your kids: Harry Potter’s magic can save the world. Or you can ask Rick Scott: Harry Potter has recently done more than a little to create the mini-boom that has turned Florida into one of the nation’s three fastest-growing states, giving Scott a fighting chance to hold on the to governorship this fall. Smart investors, and citizens, should think about the minus-sized magician today when they look at the government’s new estimates of first-quarter gross domestic product . Because what went right in Florida, which has built an investment boom around the reported $260 million that Universal spent on the now four-year-old Wizarding World of Harry Potter , is the flip side of what’s wrong with the national economy. Florida is surging because . . . Read more at Market Watch

Compare growth from 2012 to 2013 for top 300 fastest-growing cities: Miami ranks 168th up 0.8% 3,429 more people 2012: 414,221 2013: 417,650 Read more at governing.com .

Florida's housing market reported higher median prices, more new listings and a slight rise in inventory in April, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 21,385 last month, up 4.1% over the April 2013 figure. "Florida's strengthening economy and increased jobs outlook are positive signs for continued growth in the state's housing market," said 2014 Florida Realtors®President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and The Villages. "Statewide, new listings for single-family homes in April rose 9.2% year-over-year, while new townhouse-condo listings rose 1.4%. This increase in listings shows many Florida homeowners are continuing to regain equity in their homes. Potential sellers who were on the sidelines now believe the time is right to put their residences on the market. Read more at floridarealtors.org

Once considered a backwater in the Middle East, the UAE today is highly developed. Dubai , one of the UAE’s seven states, hosts some of the world’s tallest and most impressive buildings. Governed by a Supreme Council made up of seven emirs who appoint a prime minister and cabinet, the UAE started down the e-government path in 2001 when it launched an electronic card to collect service fees. Since then, the kingdom of 9 million has continued to build its e-government reputation, which was solidified earlier this year when the tech giant Accenture placed it third in its annual roundup of leading digital governments . A lot of UAE’s success has to do with its management style. It’s taken an approach that states and their local partners might find interesting: Government departments in the UAE’s principalities can create any new online services they want, while the central authority focuses on building the common parts that all departments need, like payment and customer support.

 In 2010, the National Association of Realtors ® (NAR) conducted surveys that found more than 40% of respondents saying they had problems with appraisals. But today, May 19, 2014, realty agents say the appraisal landscape has improved somewhat. In 2010, Realtors said appraisers too often used bargain-priced foreclosures and short sales as "comparables" for valuing houses that were not in financial distress. In addition, NAR membership complained in 2010 that some appraisers traveled far beyond their area of geographic competence and, when they did, were out of touch with local market conditions. Worst of all, critics said too many poorly trained appraisers that had flooded the industry during the boom years were getting the bulk of the valuation assignments from appraisal management firms. In the most recent survey, however, NAR pollsters found that the share of members reporting major issues with appraisal results was down to 24%. While that is still almost a quarter of