October, 2020

Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

In the third quarter, luxury home sales jumped 41.5% , the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now.

Renting an Apartment for the First Time

Point2Homes

Image: Antonio Guillem / Shutterstock.com. If you’re considering moving out of your parent’s home and into your first apartment, you’re probably pumped. Renting an apartment for the first time can be an exciting experience.

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5 best social media sites for real estate agents

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: 5 best social media sites for real estate agents.

The #1 Reason Not to Wait to List Your House for Sale

Keeping Current Matters

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.

Sales 258

9 Comics That Show What It’s Like Being a Real Estate Agent

Lighter Side of Real Estate

Agents: Share articles like these with your branding on them. Learn More. Members: Sign in here to share this article with your branding. Sign in here. Not a member? Seriously? Learn how you can share articles like this one with your branding. Learn more.

Home Price Appreciation Accelerates in August

Eye on Housing

In August, home price appreciation accelerated in major markets across the nation. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 12.1% in August, faster than an 8.9% increase in July.

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Buying Your First House: Tips For Buyers

RIS Media

When taking on any new project, the more you know and understand, the better things are likely to go. The same is true when buying a home for the first time. With our first-time buyer tips, you should be able to avoid many of the problems that can prevent your purchase from going well.

A disturbing trend: Buyers fail to deliver deposit cheques

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: A disturbing trend: Buyers fail to deliver deposit cheques.

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Why Pricing Your House Right Is Essential

Keeping Current Matters

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021.

Sales 259

Cash Deposits When Buying a Home: What to Know

Point2Homes

Image: vinnstock / Shutterstock.com. Cash offers have traditionally been a great way to get a discount or encourage a reluctant seller. However, when it comes to mortgages, cash can suddenly lose its appeal. Nowadays, lenders want to know exactly where all your funds are coming from.

Nation’s Stock of Second Homes

Eye on Housing

According to NAHB estimates, the total count of second homes was 7.5 million, accounting for 5.5% of the total housing stock in 2018, the most recent data available. As of 2018, the state with the largest stock of second homes was Florida (1.1 million), accounting for 14.5% of all second homes.

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Is 2021 a good time to buy a house?

Housing Wire

This year’s housing market has been plagued with low inventory, rising home prices, and endless bidding wars, making it hard for some would-be homeowners to get their foot in the door. Will 2021 be any different? Or, will it be a good time to buy a home?

RBC Just Forecasted Mortgage Defaults May Be Higher Than If The BoC Did Nothing

Better Dwelling

Canada’s largest bank is prepared for the wave of mortgage defaults coming. Wait… what defaults? RBC Capital Markets sent a research note to clients last week. In it, the analysts mention up to a fifth of deferred mortgages are at risk of default.

Banks 109

4 New iOS Features to Boost Productivity

RIS Media

The new Apple iOS 14 update has caused a flood of images featuring aesthetic home screens and articles with detailed design tutorials. While the update is clearly recognized for its visual appeal, it also makes many tasks simpler.

Design 110

Real Estate Continues to Show Unprecedented Strength This Year

Keeping Current Matters

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?

Equity 253

Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced.

Home Building: Sales Outpacing Starts by a Historic Margin

Eye on Housing

After a sharp decline in the spring, home building has staged a dramatic rebound.

Sales 113

Holy smokes — new home sales are up 32.1% year over year

Housing Wire

The one economic sector that has blown away my estimates this year has been the new home sales market. I predicted peak year-to-date growth of 4.7% but this was before COVID-19, which temporarily crushed bond yields and mortgage rates.

Sales 285

Bank of Canada Ending Pandemic Program That Helped Real Estate Prices Surge

Better Dwelling

On the day Canadian home sales and prices hit record highs, the central bank announces an end to the program partially responsible for the surge. The Bank of Canada (BoC) flooded the market with cheap mortgage credit in March.

Banks 109

Brand Report: Three Months of Record-Breaking Home Sales

RIS Media

The streak of record-shattering home sales stretched to three months in September, as closings rose 21.1 percent from a year ago. On average, homes sold in a mere 39 days—a full week faster than in September 2019. Meanwhile, inventory plummeted 31.9

A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

Keeping Current Matters

One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter.

Equity 254

Unconditional offers to buy are binding, appeal court rules

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Unconditional offers to buy are binding, appeal court rules.

Lot Size Hits New Record Low in 2019

Eye on Housing

For the first time since the Census Bureau started tracking lot sizes for new single-family detached homes, the median lot size for homes sold in 2019 dropped to 8,177 square feet, or 0.188 of an acre. This represents a solid drop of 390 square feet since 2018 and a new record low.

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The housing market faced uncertainty in March, but now ‘it’s a circus’

Housing Wire

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents.

Toronto Condo Rental Inventory Is Soaring, and It Might Be Driving People To Sell

Better Dwelling

Toronto condo rentals are seeing the most inventory in recent memory. Toronto Regional Real Estate Board (TRREB) data prepared by Toronto Realtor Daniel Foch shows rental inventory is still much higher than usual in September.

Sales 107

What Hurts a Home Appraisal? And 7 Things You Can Do to Fix Them

Redfin

The current housing market has many people considering buying or selling a home right now. Maybe you’ve checked to see how much you can afford , and you believe now might be a good time to list your house and upsize to a new one.

6 Reasons You’ll Win by Selling with a Real Estate Agent This Fall

Keeping Current Matters

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process.

Agents 252

Personal Real Estate Corporations (PREC) and higher standards for Ontario Realtors

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Personal Real Estate Corporations (PREC) and higher standards for Ontario Realtors.

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77% of Remodelers Report A Framing Lumber Shortage

Eye on Housing

With the recent increases in the price of many residential construction materials, and in particular softwood lumber, NAHB wanted to get a better understanding of how these price increases are impacting remodelers.

In a bid for stability, FHFA and FHA extend forbearance policies

Housing Wire

Major forbearance policy changes have been set into motion. The Department of Housing and Urban Development announced on Tuesday an extension allowing single-family homeowners with Federal Housing Administration -insured mortgages to request an initial forbearance through Dec 31, 2020.

Loans 285