Housing Wire

AUGUST 27, 2020

Homebuyers who are juggling work and school from their home want more space, triggering an increase in the number of sales of large homes. According to Redfin , sales for large homes were up 21.2% year over year nationwide in July, compared to a 10% increase for medium-sized homes and a 2.3% increase for small homes. Redfin categorized large homes as those between 3,000 and 5,000 square feet, medium homes between 1,500 and 3,000 square feet, and small homes between 300 and 1,500 square feet.

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Sales Design As-is Marketing 545

Keeping Current Matters

AUGUST 27, 2020

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan.

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Eye on Housing

AUGUST 25, 2020

New single-family home sales surged in July, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in July at a 901,000 seasonally adjusted annual pace, an approximate 14% gain over June and the strongest.

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Sales Marketing 145

RIS Media

AUGUST 27, 2020

If you have a spare room in your home, renting it out can be a way to earn extra to pay the mortgage. There can be problems with this sort of arrangement, however, that could make you wish you hadn’t invited a renter into your home, so it’s important to be educated about the process as much as possible. Renting out part of your home does put you in the position of a landlord with the associated responsibilities.

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Earnest money deposit As-is Agents Banks 145

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Industrial

Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept. 1. According to the article, the FHFA is considering a delay to the adverse market fee implementation date, but is not planning to rescind it.

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Debt-to-income ratio Finance Mortgages Industrial 545

Keeping Current Matters

AUGUST 28, 2020

Some Highlights. The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise. This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power. If you’d like expert guidance on exploring your homebuying options while affordability is high, reach out to a local real estate professional.

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Mortgages 329

Brownstoner

AUGUST 24, 2020

Packed in the hold of a 1946 steel-hulled schooner, sacks of Hudson Valley malt and corn sailed into Brooklyn last week. The journey of the Schooner Apollonia down the river from Kingston wasn't a living history exercise, but an effort to bring carbon neutral shipping back to the Hudson River.… Read More > The post Bringing Sail Freight Back to Brooklyn, Schooner Apollonia Delivers Goods to Red Hook appeared first on Brownstoner.

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Housing Wire

AUGUST 27, 2020

Four days ahead of its previous expiration date, the Federal Housing Finance Agency extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac until Dec. 31. After its prior extension to Aug. 31 in June, the agency said it intended to monitor the effects of the coronavirus and update policies as needed.

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Mortgages Finance Loans 536

Keeping Current Matters

AUGUST 24, 2020

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow : “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above.

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Design As-is Closing Mortgages 326

Realtor.com

AUGUST 24, 2020

Henrik5000/Getty Images The nation’s surging home prices don’t seem to care about the recession the country is mired in. They can’t be bothered by the deadly coronavirus pandemic or the double-digit unemployment that’s come as a result. Instead, prices are defying logic, expectations, and even belief, as they shoot up to record highs amid an unprecedented health and economic crisis.

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Mortgages New Construction As-is Marketing 141

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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

Brokerage

Marco Santarelli

AUGUST 28, 2020

Taxes rarely make for exciting reading material, but if you own an investment property, there’s at least one set of IRS regulations you absolutely will want to understand: 1031 exchange rules. Why? Because normally when you sell an investment property for more than what you paid for it, you’d have to pay a hefty capital gains tax. But with a 1031 exchange , you get to defer paying those taxes if you reinvest the proceeds in a new property, making an “exchange” rather than a sale.

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Housing Wire

AUGUST 28, 2020

The line between traditional iBuyer and brokerage is getting ever-so-blurry for venture-backed startup Opendoor. The company, armed with $1.5 billion in VC funding, is looking to bring aboard real estate agents in Phoenix, Arizona, to support its “Home Reserve” iBuying platform, according to Inman , which spotted a jobs posting Friday morning.

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Brokerage Staging Banks Agents 538

Keeping Current Matters

AUGUST 25, 2020

When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place.

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Realtor.com

AUGUST 28, 2020

David Paul Morris/Bloomberg via Getty Images Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the U.S. housing market’s recent recovery. Demand from millennials, who today range from their mid-20s to late 30s, has been increasingly important to the housing market since at least the middle of the last decade.

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Marketing Fixed-rate mortgage Loans Renovation 138

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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

Agents

HomeLight

AUGUST 28, 2020

It’s taken what seems like an eternity to finally get to this point. The offer has been accepted , the home inspection is complete, and the documents have been signed. Now, it’s time to start packing your belongings so you can finally start moving into your brand new abode. Do you have a plan for how to pack clothes for moving day? We all know that if we are packing fragile items , we should wrap them in old newspapers, bubble wrap, or even soft linens so nothing is broken.

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Housing Wire

AUGUST 27, 2020

Average U.S. mortgage rates for a 30-year fixed loan fell to 2.91% this week, the second-lowest level on record, Freddie Mac said in a report on Thursday. The rate declined from 2.99% last week , the mortgage financier said. The average rate for a 15-year fixed home loan fell to 2.46% from 2.54%. “This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows,” said Sam Khater, Freddie Mac’s chief economist.

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Mortgages Loans Finance Sales 526

Keeping Current Matters

AUGUST 26, 2020

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up , you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one.

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Realtor.com

AUGUST 27, 2020

Feverpitched/Getty Images In this age of social distancing, you might want to limit the number of strangers traipsing through your house. So chances are good you’ve said sayonara to the idea of having a staging company come in to artfully showcase your home for sale. That means it’s time to get creative in order to prep your property for sale.

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Staging Technology Renovation Design 135

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Sales

The American Genius for Real Estate

AUGUST 27, 2020

[REAL ESTATE BIG DATA] Positive NAR reports encourage strong homebuyer return into the housing market following pent-up demand. The post Home purchase contract signings surge 5.9% in July appeared first on The American Genius Real Estate.

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Marketing 133

Housing Wire

AUGUST 28, 2020

The Federal Housing Finance Agency announced on Tuesday it is delaying the implementation of its adverse market refinance fee to Dec. 1 – three months past its intended start date. But what about lenders whose refi loans were locked with closing dates after Sept. 1 and carrying the 50bps LLPA? Phil Shoemaker, president of originations at Home Point Financial , said that for every Home Point borrower who had the adjustment added, the fee will be removed.

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Loans Finance Closing Mortgages 514

RIS Media

AUGUST 27, 2020

At the start of the pandemic, the housing market nearly screeched to a halt. When most states moved to mandatory quarantining and strictly enforced social distancing, agents were, rightfully, concerned with the future of real estate. Now that some COVID restrictions have lifted, there has been an influx of buyers ready to make their move. However, the new challenge is that, now, there are not enough homes for sale to fulfill the number of buyers.

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Agents Sales As-is Marketing 133

Eye on Housing

AUGUST 27, 2020

In a recent article, NAHB analysis of government data found that new single-family and multifamily construction used a total of roughly $94.93 billion in building products in 2019. Although the vast majority of the $94.93 billion was produced domestically, supporting jobs in the U.S. manufacturing sector, about 6.4 percent ($6.12 billion) was imported from other countries.

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Residential Construction 131

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

Agents

Realtor.com

AUGUST 25, 2020

realtor.com, Patrick McDermott/Getty Images Former New York Giants quarterback Eli Manning has tossed his Summit, NJ, mansion onto the market. After retiring from the NFL earlier this year, the two-time Super Bowl champion is also moving on from his longtime home. If you’re a Giants fan with plenty of cash, you can now score Manning’s upscale abode for $5.25 million.

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Renovation Sales Marketing 131

Housing Wire

AUGUST 27, 2020

Federal Reserve Chairman Jerome Powell on Thursday announced a major shift in monetary policy that will allow the central bank to use inflation averaging, rather than the current practice of setting a hard target. Speaking at a video-only version of the Federal Reserve Bank of Kansas City ’s annual conference, Powell said the Fed will no longer raise its benchmark rate to keep unemployment from falling too low and will allow inflation to run slightly higher than the current 2% target after perio

Mortgages 508

Mortgages Banks Investor Lending 508

Better Dwelling

AUGUST 24, 2020

Toronto real estate has seen pent up demand drive sales higher, but the impact on condos has been limited. Toronto Regional Real Estate Board (TRREB) data shows a fairly large uptick for condo sales in July. The increased sales volume has been met with sellers hitting the market at the fastest pace in at least […]. The post Toronto Condo Sellers List At The Fastest Pace In Over 5 Years, New Listings Rise 57% appeared first on Better Dwelling.

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Sales Marketing 130

Marco Santarelli

AUGUST 27, 2020

The Las Vegas housing market is literally on fire amid the pandemic. The booming Las Vegas real estate market was impacted by the ongoing pandemic but things are turning back to normal. The economic uncertainty and massive job losses directly affected its housing market as well. However, it has managed to avoid total collapse. There is no downturn happening in the local housing market.

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Marketing Purchase and sale agreement Investor Sales 128

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Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.

Agents

Eye on Housing

AUGUST 26, 2020

According to NAHB analysis of quarterly Census data, the market share of rental multifamily construction starts increased to 96% during the second quarter of 2020. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period. During the second.

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Construction Marketing 128

Housing Wire

AUGUST 27, 2020

U.S. pending home sales rose 5.9% in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist of the National Association of Realtors.

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Sales Residential Loans Mortgages 501

Realtor.com

AUGUST 24, 2020

fizkes/Getty Images To say that we’re all feeling anxious while living through a global pandemic is quite the understatement. And our homes should be a place of respite during these challenging times—not somewhere the walls feel like they’re closing in. But what if your home is actually making your anxiety worse ? “When our external world feels threatening or uncertain, our internal sense of control gets out of balance,” says Karen Whitehead of Karen Whitehead Counseling

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REM Online

AUGUST 24, 2020

The following content may have been republished here without the author's permission. The original post can be found at the following URL: When a property is damaged prior to closing. Please visit REMonline.com for more content like this, and contact web@remonline.com to inform us of any unauthorized reproduction. What obligations do sellers and buyers have in a real estate transaction when the property has been accidentally damaged – such as by a fire – prior to closing?

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Closing Purchase and sale agreement As-is Sales 127

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

Agents