Housing Wire
FEBRUARY 25, 2021
Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to six months, the Federal Housing Finance Agency announced Thursday. On Feb. 9, the FHFA extended forbearance plans an additional three months past beyond their initial 12 month expiration. With the latest edict, the agency is now allowing borrowers up to 18 months of coverage.
Keeping Current Matters
FEBRUARY 22, 2021
In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further.
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Lighter Side of Real Estate
FEBRUARY 26, 2021
There’s no denying that low inventory and increasing prices have presented challenges for buyers in today’s market—and that includes first-time buyers. But the market also offers a slew of benefits for first-time buyers—and many have had a positive experience buying a home in recent months. A recent survey from realtor.com asked over 1000 recent and prospective first-time buyers about their experience buying a home in today’s market—and much of the news was good.
Better Dwelling
FEBRUARY 24, 2021
Canada’s central bank isn’t really that worried about real estate, it appears. Bank of Canada (BoC) governor Tiff Macklem held a Q&A after a speech for the Edmonton and Calgary Chambers of Commerce yesterday. During the Q&A, the governor dismissed concerns about an overheated housing market. In fact, he welcomed its contribution to the economy […].
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.
Housing Wire
FEBRUARY 26, 2021
In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. But single men on average paid 3.37%, according to the latest HMDA data available. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments than the single man. Patrick Boyaggi, CEO and founder of Massachusetts-based lending startup OwnUp , says this issue hasn’t drawn enough attention in the mortgage space.
Keeping Current Matters
FEBRUARY 24, 2021
The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Realtor.com
FEBRUARY 24, 2021
Getty Images,Bootzilla/Anna Erastova Whether you’re a professional-level home cook or a take-out fanatic who uses the oven to store shoes, the design and function of your kitchen is very important. No matter its square footage or number of built-in features, the kitchen plays a big part in how you live at home. That’s why time spent beautifying your kitchen is always time well-spent—especially if you plan on selling your home someday.
Housing Wire
FEBRUARY 23, 2021
We may never again see a year like 2020. That’s somewhat somber news for the lenders who benefited from a series of downright strange conditions to generate more refi business than anyone in March could have imagined. Both Fannie Mae and Freddie Mac reported that refis made up about 70% of their mortgage activity in 2020, and, driven by weeks upon weeks of record low mortgage rates, refis accounted for 51% of all the volume LO’s funded in Q4, soaring 158% from the same period in 2019.
Keeping Current Matters
FEBRUARY 23, 2021
We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low much longer.
Better Dwelling
FEBRUARY 24, 2021
Canada’s population growth may have slowed, but new home completions are still moving at a breakneck speed. Canada Mortgage and Housing Corporation (CMHC) data shows developers delivered over 50,000 new homes in Q4 2020. The number of new homes began outpacing population growth in the prior quarter. The ratio went parabolic in the latest numbers […].
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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.
Realtor.com
FEBRUARY 22, 2021
alexsl / Getty Images Capital gains tax is the income tax you pay on gains from selling capital assets—including real estate. So if you have sold or are selling a house, what does this mean for you? If you sell your home for more than what you paid for it, that’s good news. The downside, however, is that you probably have a capital gain. And you may have to pay taxes on your capital gain in the form of capital gains tax.
Housing Wire
FEBRUARY 24, 2021
Extreme increases in lumber prices have caused some people to go bearish on new home sales. Not this one! If we play a version of rock, paper, and scissors with lumber prices and mortgage rates, mortgage rates will win. Mortgage rates have a much more significant influence on the new home sales market than lumber prices, even at their current highs.
Keeping Current Matters
FEBRUARY 25, 2021
If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors ( NAR ), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982.
Maximum Exposure Real Estate
FEBRUARY 24, 2021
What is Home Insurance? Do you know what home insurance is and how it works? The idea of homeowners insurance might seem simple, but it can be easily misunderstood. We’ll be taking a look at everything you need to know about home insurance. Homeowners insurance is a way of covering you against loss or damage […]. The post Home Insurance: What to Know About Homeowners Insurance appeared first on Massachusetts Real Estate Exposure.
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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.
Realty Biz
FEBRUARY 20, 2021
Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works? Real Estate contingencies are when some defined action or outcome must occur before a contract becomes legal and binding. From a buyer’s perspective, a real estate contingency is an escape clause that can be used under defined circumstances.
Housing Wire
FEBRUARY 25, 2021
The average mortgage rate for a 30-year fixed loan is now just 3 basis points away from 3%, after a 16 basis point jump last week pushed mortgage rates to 2.97%, according to Freddie Mac ’s Primary Mortgage Market Survey. The average mortgage rate hasn’t risen this high since the end of July 2020, but Sam Khater, Freddie Mac’s chief economist, noted higher rates signals an economy slowly regaining its footing.
Keeping Current Matters
FEBRUARY 26, 2021
Some Highlights. Over the past year, homeowners have gained an unprecedented opportunity to sell with great success while buyer demand is soaring. With homes selling twice as fast as they did last year at this time, getting multiple offers , and rising in price , homeowners are in the driver’s seat. Reach out to a local real estate professional today if you’re ready to learn about the leverage you have as a seller in today’s housing market.
Realtor.com
FEBRUARY 26, 2021
designer491 / Getty Images With tax season upon us, it seems like a good time to check what homeowners pay in property taxes —and a new survey confirms that where you live makes a huge difference in how much you’ll have to cough up. According to researchers at WalletHub , which analyzed tax data on all 50 states and the District of Columbia, the average American household pays $2,471 on real estate property taxes.
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Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.
Eye on Housing
FEBRUARY 22, 2021
Building materials prices topped the list of problems builders faced in 2020 and is expected to return to the number one spot in 2021, according to special questions on the December 2020 survey for the NAHB/Wells Fargo Housing Market Index. The survey results showed that building materials was a significant issue for 96% of builders last year.
Housing Wire
FEBRUARY 24, 2021
New home sales in 2021 picked up right where they left off in 2020, near their highest levels in more than a decade thanks to low inventory. The state of the market means increased competition among homebuilders, who are grappling with how to keep prices affordable as their own costs rise. Sales of new single-family houses in January were at a seasonally adjusted annual rate of 923,000 — 4.3% above December’s rate, and a whopping 19.3% higher than original estimates by the U.S.
Realty Biz
FEBRUARY 26, 2021
What is an HOA? Are you confused about the meaning of an HOA? HOA is short for a homeowners association. Lots of people ask real estate agents how an HOA works and what purpose does it serve. Once they understand the purpose of a homeowners association they ask what the HOA fees cover. An HOA is a group or organization in a neighborhood that makes and enforces rules and regulations for homes or condos for the benefit of its owners.
Realtor.com
FEBRUARY 23, 2021
HGTV “Home Town” stars Erin and Ben Napier know that sometimes a little goes a long way. In fact, that’s how they approach the renovation of their latest midcentury build. They want to modernize it, but not too much. On the Season 5 episode “Closer to Mom,” the Napiers meet Brach and Ashley Robinson. These two live in New Orleans but started shopping for a home in Laurel, MS, so that they’d have a comfortable place to stay when they visit Ashley’s mom.
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.
Eye on Housing
FEBRUARY 22, 2021
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction expanded to a 2.5 year high during the final quarter of 2020. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction initially lagged. However, a strong final quarter led to roughly flat.
Housing Wire
FEBRUARY 23, 2021
December saw a double-digit annual increase for home prices across the country, according to the Case-Shiller Home Price Index from S&P Dow Jones Indices and CoreLogic. The nine U.S. Census regions showed a 10.4% annual gain in December, up from 9.5% in the previous month. The 10-city composite annual increase came in at 9.8%, up from 8.9% in the previous month.
HomeLight
FEBRUARY 26, 2021
One additional bedroom — and the privacy it provides — can make all the difference to your space needs. You could use the add-on to give each of your kids their own bedroom, or turn it into the home office of your dreams. But any kind of house addition will be expensive and time-consuming. The renovation will also turn your cozy home into a construction zone until it’s finished.
Realtor.com
FEBRUARY 26, 2021
Rene Scott/Houzz If you’re anything like us, you’ve looked around your home more than a few times over the past year and wished you could hire a designer to instantly elevate your space. But alas, for whatever reason—you don’t have the budget, or you’re lying low during the COVID-19 pandemic—professional design help just isn’t in the cards right now.
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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.
The American Genius for Real Estate
FEBRUARY 24, 2021
(HOMEOWNERSHIP) People often forget what changes and additions they've made to a house until it is too late. This Twitter thread is a hilarious reminder to take everything with you when you leave. The post Hilarious things left behind when people move out of their house appeared first on The American Genius Real Estate.
Housing Wire
FEBRUARY 24, 2021
For the first time since March 2020, the national mortgage delinquency rate fell below 6% to 5.9% in January, according to data from Black Knight on Wednesday. At the current rate of improvement, the data giant estimates 2.1 million borrowers remain 90 or more days past due though are not yet in foreclosure. While modest mortgage delinquency improvements have occurred for several months, loans considered seriously delinquent are still five times that of pre-pandemic levels.
Eye on Housing
FEBRUARY 24, 2021
After a slight slowing of sales at the end of 2020, new single-family home sales edged higher in January, increasing 4.3% to a 923,000 seasonally adjusted annual rate, according to estimates from the Census Bureau and HUD. Sales exceeded construction starts by a historic margin at the end of the summer, which necessitated an increase in starts and some slowing.
Realtor.com
FEBRUARY 25, 2021
ArtistGNDphotography / Getty Images Building a brand-new home may sound like a dream come true. You get to choose the ideal layout for your family’s needs, and have a say in each and every design element. However, the process may also be daunting if you’ve never done it before. To help you through it, we’ve created this Guide To Building Your Own Home.
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.
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