News
Published July 10, 2020
A high credit score usually qualifies for a lower interest rate, but what’s the minimum score to get a loan at all? Buyers trying to boost their score should aim for 620 on a conventional loan and 580 (3.5% down) on an FHA loan. Lender requirements vary for jumbo or VA loans.
Published July 10, 2020
For many people, pandemic mortgage-forbearance rules made it easier to postpone monthly payments. But is a fear of what might happen a good enough reason to do so?
Published July 10, 2020
The U.S. has a new tactic if cities want federal money to mitigate threats from climate change: They must first agree to take homes using their eminent domain powers.
Published July 10, 2020
The site created a Housing Market Recovery Index just a few weeks ago to gauge the market’s return to “normal,” and real estate is already close to pre-pandemic levels.
Published July 10, 2020
92% of Realtors have buyers who returned or never left; 18% saying buyers never left. Chief Economist Yun says the RE market has “seen a swift rebound of activity.”
Published July 10, 2020
People stuck looking at the same four walls are changing the walls – and floors, bathrooms and bedrooms. They’re also starting new projects, such as adding office space.
Published July 09, 2020
A house with a name intrigues buyers or renters since it often suggests luxury, and the concept is reappearing again on vacation-rental websites, such as Airbnb.
Published July 09, 2020
COVID-19 shook up many Americans’ financial picture, but a mortgage refinance could help – providing they still qualify. Here are seven questions to consider.
Published July 09, 2020
Inflation remains muted in a weakened U.S. economy as buyer demand remains strong. This week’s average of 3.03% for a 30-year loan is down from last week’s 3.07%.
Published July 09, 2020
FEMA prepared a list of flood preparation tools – webpages, fact sheets, infographics and publications – with input from NAR. The “Real Estate Professional’s Guide to Discussing Flood Insurance” covers almost everything Realtors should understand.
Published July 09, 2020
The share of renters (61%) who think it’s currently a good time to become a homeowner has hit a five-year high, according to Fannie Mae’s latest study.
Published July 09, 2020
Lenders can offer borrowers with an FHA mortgage four types of forbearance, including one for those “not eligible for any other home retention solution.”
Published July 08, 2020
A common condo complaint focuses on noisy neighbors, but an HOA has limited options. It depends on the governing docs – and sometimes it’s a police matter.
Published July 08, 2020
A condo buyer cancelled a transaction because the board required two years’ worth of tax returns. A Fla. judge called that blanket requirement “patently unreasonable.”
Published July 08, 2020
A credit score doesn’t need to be perfect, and a new job isn’t always a deal breaker. Still, too many renters with a credit glitch think it bans them from homeownership.
Published July 08, 2020
Virtual meetings are here to stay, and if clients like remote meetings, even post-pandemic, Realtors must do the same. But it’s different than face-to-face meetings.
Published July 08, 2020
A study by Indiana University and the University of California-Berkley found black and Hispanic homeowners pay 10%-13% more than white ones in the same tax jurisdiction.
Published July 08, 2020
Businesses want to reopen safely, but is COVID-19 testing for all team members a wise move? The tests can be expensive, especially if done multiple times. In addition, they only measure infection at a single point in time, and many people balk at the idea of mandatory testing.
Published July 07, 2020
The Fed’s predictions rely on data, so Powell admits what’s coming next is unknown. It depends on COVID-19’s spread and people’s willingness to re-engage in activities.
Published July 07, 2020
All automatically dialed calls to cellphones are illegal under the ruling, including a category expanded by the court – robocalls to collect money owed to governments.