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The top 50 places to work for new fathers

Times they are-a-changin’, and many companies are starting to include benefits for new fathers. Here are the top 50 companies for dads.

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It’s all in the family

Millennials are coming of age. They are securing careers, buying homes, and having children. Millennial men, the new generation of fathers, are beginning to consider how they are going to balance parenting with work when looking for jobs.

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A mere decade ago, it was relatively rare for companies to offer parental leave or any other benefits to new fathers. In fact, the United States is the only developed nation in the world that does not legally require companies to offer paid parental leave for dads.

Stay-at-home-dads are more common

But the days of the stay-at-home mom are over. The Bureau of Labor Statistics reports that over half of American families have two working parents, and the number of single dad households has increased 900 percent since 1960. More and more, families are insisting that dads take an active role in parenting the little ones. Millennial men, the new generation of fathers, are beginning to recognize how important it is to balance work with family time – and companies are finally starting to catch up.

The top 50 work places for Pops

Fatherly, an online resource for working dads, recently published a list of the top 50 companies for new fathers. The list tapped research from Boston College’s Center for Work and Family, which analyzed companies with over 1000 employees. To be considered for the list, a company had to offer at least one week of paid paternity leave, although some companies offered over nine weeks. The research also looked at other benefits and aspects of company culture, such as work flexibility and family support programs like on-site daycare.

Google ranked first on the list, having provided paid paternity leave years ago when no one else was bothering with it. Facebook ranked second (offering a whopping 17 weeks of paid leave!), followed by Bank of America, Patagonia, and State Street. You can check out the list in its entirety on Fatherly.

Although none of the lists feature real estate as a “company” or “brand,” brokers should encourage new parents to take time off, and have systems in place to allow for that. Despite not being a traditional company, yours can be one that celebrates both parents, and no industry is more poised to be parent-friendly than real estate.

Because you are loved, Daddy-o

Of the 50 top ranking companies, most were concentrated in New York (with 13) and California (with 7). Surprisingly, three of the top 50 companies for working dads were located in Texas. Agents in these states may want to consider blogging or tweeting about Fatherly’s list, as dad-friendly states are likely to start attracting Millennial families looking to buy a home.

Times are changing, and folks are realizing that kids — and companies – benefit when dads are able to spend plenty of time at home while still working to provide for the family.

#Fathers

Ellen Vessels is a Staff Writer at The Real Daily, and is respected for her wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when she’s not writing, and has a passion for sustainability, social justice, and the arts.

Real Estate Big Data

Are people jumping back on the flipping bandwagon?

(REAL ESTATE NEWS) House flipping is fun to watch on tv, but the housing crash ended the big wave of investor flips – is it that time again?

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Just when you thought all those shows about flipping houses on HGTV were going to be obsolete, the entity behind the nation’s largest property database, ATTOM Data Solutions, drops news that home flipping may be on the rise in emerging markets.

ATTOM’s Q3 2017 U.S. Home Flipping Report found that there was an influx of flipping and market competition in 44 out of the 93 metropolitan markets.

“A more than nine-year low in the ratio of flips per investor is evidence of this increased competition,” Daren Blomquist, senior vice president at ATTOM Data Solutions, said at the release of the report on Thursday. “[This] is pushing many investors to new metro areas that often have weaker market fundamentals but also come with a bigger supply of discounted distressed properties to flip.”

In order to perform the statistical analysis included in the report, ATTOM maintained its analytical definition of flipping from previous years. The property data firm defines a flipped home as a property “sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data” that was collected by their research firm.

Areas with the largest revitalized interest for flippers: Baton Rouge, Louisiana (up 140 percent); Winston-Salem, North Carolina (up 58 percent); Salem, Oregon (up 51 percent); Indianapolis, Indiana (up 51 percent); and Buffalo, New York (up 47 percent).

However, this flipping increase of 47 percent of markets is bucking the national trend of shifting away from flipping. Nationally, the report finds that while from Q3 to Q2, the rate of home flipping has decreased 0.5 percent, the overall home flip rate comparing Q3 2016 to Q3 2017 has stagnated at 5.1 percent. Also, return on investment (ROI) is decreasing, which might be driving this declining rate.

As detailed in the report, only 37 percent of major metropolitan markets are experiencing an increase of average gross home flipping return on investment (ROI) in Q3. The rest of markets? They’re experiencing an ROI downturn, receiving lowest average gross flipping ROI since Q2 2015.

“Home flipping profits continue to be squeezed by a dwindling inventory of distressed properties available to purchase at a discount and increasing competition from fair-weather home flippers often willing to operate on thinner margins,” Blomquist said.

It looks like we shouldn’t count out the creation of “Flip this House: Baton Rouge” coming soon to a TV near you.

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Real Estate Big Data

The average first time home buyer struggles with debt and down payments

(REAL ESTATE NEWS) For years, the first time home buyer has been squeezed out of the market, but for those qualifying, what are the traits of today’s average first timer?

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While the nation’s housing supply tightens and home prices continue to rise, first time home buyers are also struggling to save enough for a down payment while burdened with student loan debt.

As a result, only 34 percent of 2017 home buyers were first time homeowners, a minor decrease from 35 percent in 2016, according to the National Association of Realtors 2017 Profile of Home Buyers and Sellers. This figure continues to fall away from the long-term historical market average of 39 percent, per the NAR.

The typical first time home buyer? A 32-year-old with an average household income of $75,000 who carries some lingering student loan debt.

While millennials are in their prime home buying years, the NAR found debt and saving for a down payment are the most significant home buying hurdles. A quarter (25 percent) of new first time buyers said saving for a down payment was the most difficult task they faced during the process and more than half (55 percent) said student loan debt delayed their home purchase.

Among the surveyed home buying newbies, 41 percent indicated they have student loan debt, which is up from the 40 percent recorded in 2016. And, the average debt balance has increased even more in the past year, reaching an average of $29,000 compared to $26,000 in 2016. More than half of debt-carrying buyers owe at least $25,000, too.

The typical first time home? A single-family home in a suburban area with a median purchase price of $190,000. And, as saving for a down payment is difficult for many young buyers, the average first time home buyer down payment averaged 5 percent in 2017, the lowest percentage recorded by the NAR since 2013. The average down payment figure also indicates such buyers finance nearly 10 percent more (95 percent) of their home purchases than repeat buyers (86 percent).

In addition to personal finance burdens, first time buyers have struggled to find affordable options as the housing inventory in many parts of the U.S. tightens and prices increase for what is available. When buyers are on a budget and balancing debt, this can dampen the dreams of homeownership and prolong the time spent searching for their first home. Overall, the 2017 NAR survey found the average home buying search lasts 10 weeks.

Regardless of reality, many currently believe that it’s just too expensive to buy.

“With the lower end of the market seeing the worst of the supply crunch, house hunters faced mounting odds in finding their first home,” said NAR chief economist Lawrence Yun. “Multiple offers were a common occurrence, investors paying in cash had the upper hand, and prices kept climbing, which yanked homeownership out of reach for countless would-be buyers.”

The NAR annual Profile of Buyers and Sellers survey is survey data-based snapshot of home buyers who have purchased a home in the past 12 months, which, for the latest report, meant between July 2016 and June 2017.

While the new first time home buyer stats may not be the most promising, these findings can help real estate professionals better understand the current housing market and better assist home buyers – especially younger buyers who may benefit from more guidance.

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Real Estate Big Data

Retailers are selling off their real estate to survive

(REAL ESTATE NEWS) It’s no secret that retailers have struggled, and those that intend on surviving are looking to their most valuable assets to get creative with.

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With brick-and-mortar sales plummeting and more and more customers shopping online, retailers nationwide are laying off employees, shutting down stores, and desperately trying to adapt to changing conditions.

Department stores in particular are hurting. Decades ago, when department stores were having a heyday and browsing a huge inventory was a novelty experience, many companies like Macy’s, Lord & Taylor, and Sears bought or built enormous stores in prime locations.

Now, these companies are having a hard time moving inventory – but they sure do have some lucrative real estate. Many are leasing out parts of their stores to smaller retailers or as office space to startups and tech companies. Some are creating partnerships to share their store space. And some are simply selling these properties all together. Is this a savvy strategy for generating capital? Or the desperation tactics for sinking ships?

The number of companies selling some of their most noteworthy stores certainly gives credibility to what people are calling the “retail apocalypse.” In the past few years, Macy’s, who laid off 10,000 employees this year, has sold stores in San Francisco, Portland, Los Angeles, and Minneapolis. Sears began selling real estate two years ago, and many J.C. Penney locations have also closed down.

Hudson’s Bay Company, which owns Lord & Taylor and Saks Fifth Avenue, recently announced that they would sell their Fifth Avenue building in Manhattan to tech startup WeWork for $850 million. Lord & Taylor will then lease one or two floors from WeWork, who will use the rest of the building for their offices. Hudson’s Bay Company is also looking to sell another department store in Vancouver.

According to Garrick Brown, director of retail research for real estate broker Cushman & Wakefield, “some department store companies have real estate holdings that are move valuable than the retail business itself.” He says that some department stores are “getting choked” because they can’t face the facts that their giant locations are unnecessary and costly.

So while some companies, like Sears, may have waited until it was too late to make a last-ditch effort at selling their real estate, others may be selling or leasing their store locations as the next step towards the innovations they’ll need to survive.

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