The surge in popularity of reality renovation shows has inspired many homeowners to look at their houses in a new way -- namely as a project they can beautify themselves. Home buyers are looking for houses that look like they do on TV, with modern layouts and updated features. Combine that with record-low home inventory, and the result is more people choosing to update their current homes instead of looking for something new.
As we closed out 2017, Realtor.com and Oldcastle Business Intelligence released detailed reports on the state of the nation’s housing and construction industries accompanied by their projections for the year ahead. We compiled a list of the top trends and predictions from each report and put the key data points into two infographics for housing and construction.
Built co-founder and president Chase Gilbert was recently interviewed for the Lendtech Briefing series put on by Mortgage Cadence. The interview covered a variety of topics, including:
Your company has brand new software ready for implementation, but surprise, surprise your team has met the change with resistance. Creatures of habit, your human employees cannot help but resist change and all of the hard work that goes with it. When it comes to implementing change successfully, commitment is key. Include the following elements in your implementation strategy to get employees as excited about the new software as you are.
When introducing a new software solution to the workplace, providing plenty of resources, training opportunities, and ongoing help to employees is paramount to a successful transition. Staff training will ensure employees feel engaged and included in the process and implementation of new software. Training will also help you fully realize the software's capabilities, and employee input during training will shed light on a plethora of unique scenarios and applications of the new system. Before implementing new software, be sure you have a well-planned training strategy in place.
If introduced to employees in the wrong way, change in the workplace forces employees into a grieving process in which they must learn to let go of their old ways to accept new processes. As it does in personal life, grief in the workplace also comes complete with five stages including denial, anger, bargaining, depression, and acceptance.
The workplace grieving process can be mitigated somewhat by including employees in the conversations which take place around an impending change throughout the process leading up to a decision. Change, however, is difficult for everyone, and the grieving process cannot be completely avoided. If you plan to implement a change, such as new software, to your company, learn to recognize the stages of grief in your staff and take these steps to usher them through the process.
The Digital Lending + Investing Conference, hosted by SourceMedia, brings together the brightest minds in lending, loan investing and fintech to discuss what's next in the consumer finance industry.
With refinances tapering off and less real estate inventory available to your potential loan clients, opportunity in the construction loan market expands every day. In the past, construction lending was seen as extremely risky and time-consuming. With technology and the right strategy, however, you can make construction lending very profitable. The following are the three biggest construction lending myths—busted!
Harvard’s Joint Center for Housing Studies released an extensive report on the state of the nation’s housing in 2017. We put the most salient of data points into an infographic for easy digesting and sharing.
The skinny: Ten years after The Great Recession, the national housing market is almost back to normal -- prices are up near previous levels, along with housing demand and construction volumes, while homeowners in distress continues to fall. Things aren’t all rosy, though. Tight supply means affordability concerns for some. What does that tell us? Construction levels need to continue to increase to keep up with demand.
Built's President and Co-Founder, Chase Gilbert, was featured in FinXTech Lending on how Fintech Can Improve the Customer Experience in Construction Lending.