Housing Wire
DECEMBER 11, 2020
2020 was a truly unprecedented year. With it behind us, let’s look ahead at several housing market trends that are likely in 2021 and beyond. First, exceptionally low mortgage rates are likely to be around for an extended period. The Federal Reserve is expected to continue an accommodative monetary policy and keep the federal funds target below 0.25% through 2022.
Keeping Current Matters
DECEMBER 10, 2020
If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low.
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Lighter Side of Real Estate
DECEMBER 10, 2020
It’s not unusual for homebuyers to admire a seller’s belongings. Chances are they may share similar taste—they bought the same house, after all! But some go as far as to ask that certain items remain with the home as part of the deal. It’s easy to imagine clients wanting to include mirrors, window treatments, and maybe even chandeliers—but some take it a step farther and make really bold requests.
Point2Homes
DECEMBER 8, 2020
Image: Doubletree Studio / Shutterstock.com. When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met.
Speaker: Jady West, VP of Hospitality & Chris Bennett, Head of Sales & Engineering
The modern hotel room is no longer just a place to stay—it’s an experience to remember. Today’s guests expect seamless 5G connectivity, personalized comfort, and high-tech convenience. From AI-powered smart room controls to in-room entertainment and app-based services, technology is redefining hospitality from the inside out. In this new session featuring industry pros Jady West and Chris Bennett, we’ll explore how high-speed, high-bandwidth connectivity powers the innovations that are enabling
Housing Wire
DECEMBER 7, 2020
The U.S. housing market was the single best outperforming economic sector globally during the COVID-19 pandemic in 2020. The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows. New Home Supply. The monthly supply for new homes is currently at 3.3 months.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Lighter Side of Real Estate
DECEMBER 9, 2020
SOURCE: Ken Wile with Redfin Real Estate. Fans of the Netflix hit show “The Crown” may long for a castle of their very own. While this stone masterpiece in Lake Peekskill, NY isn’t quite Buckingham or Kensington Palace, it’s still pretty amazing. And the best part? It may be within your budget. (At least compared to what Buckingham Palace would run you!).
Maximum Exposure Real Estate
DECEMBER 6, 2020
How Pre-approval Differs From Pre-qualification Do you know how mortgage preapproval differs from a prequalification? There has been some confusion among those looking to buy a home and qualify for a mortgage loan regarding the difference between a mortgage pre-approval vs. a pre-qualification letter. Indeed, they sound pretty similar, so hearing these terms before or […].
Housing Wire
DECEMBER 11, 2020
Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2021. “We are extending the temporary flexibilities related to verbal verifications of employment and power of attorney to loans with application dates on or before Jan. 31, 2021 fr
Keeping Current Matters
DECEMBER 7, 2020
This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR), notes : “Working from home is a positive factor in demand for vacation homes.”. Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, in the mountains, or somewhere in between.
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Realty Biz
DECEMBER 8, 2020
How Are Townhouses Different From Condos? One of the big choices you have to make when home buying is what type of property you want to live in. An increasingly popular choice for buyers is between condos and townhouses. They offer many advantages to buyers with benefits over traditional family homes. These types of property have many things in common, but important differences as well.
Better Dwelling
DECEMBER 11, 2020
Canada’s largest bank is prepared for price drops most would find unthinkable. Royal Bank of Canada (RBC) filings show possible risk scenario forecasts. Over the next year, the base forecast shows virtually flat growth. In a best case scenario, growth would hit levels similar to previous years. In a worst case, they forecast prices can […]. The post RBC’s “Worst Case” For Canadian Real Estate Is A Price Drop of Nearly 30% appeared first on Better Dwelling.
Housing Wire
DECEMBER 9, 2020
HW Media, publisher of HousingWire, FinLedger, and producer of Engage Events, today announced it has closed on the strategic acquisition of REAL Trends, the residential real estate industry’s leading report that ranks the performance of the top U.S. brokerage firms. REAL Trends will continue to publish the REAL Trends 500, The Thousand, and Website Rankings reports on an annual basis, as well as produce the Gathering of Eagles and DealMAKERS events.
Keeping Current Matters
DECEMBER 8, 2020
Last Friday, the Bureau of Labor Statistics released the November Jobs Report. It revealed that, though headed in the right direction, the nation’s job recovery has slowed. The consensus reaction is best exemplified by a quote from Glassdoor Senior Economist , Daniel Zhao: “We saw positive job gains, but I think the sentiment is largely negative because we know that we’re heading into a dark winter.”.
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.
Realty Biz
DECEMBER 10, 2020
Tips For Getting Preapproved For a Mortgage. If you start looking for your new home before you know how much you can afford to spend, you will be in for some disappointment. It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. However, if you have a mortgage preapproval , you will know where you stand and be in a stronger position when making an offer.
Better Dwelling
DECEMBER 10, 2020
Not every Canadian that took a credit payment deferral needed one. Don’t let that fool you into thinking no one needed a payment deferral though. Royal Bank of Canada (RBC) data shows the number of expired payment deferrals the bank is carrying. The vast majority of people have resumed payments without problem. However, delinquencies are […].
Housing Wire
DECEMBER 7, 2020
Mr. Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 million to settle a lawsuit claiming it violated the rights of over 115,000 customers, some of whom it had illegally foreclosed on. When Mr. Cooper – then known as Nationstar – bought thousands of mortgages through MSR bulk purchases, it frequently failed to identify loans with existing modifications, according to the lawsuit, which was fi
Realtor.com
DECEMBER 10, 2020
fstop123/Getty Images Whether you’re buying your first home or your 11th, there’s one thing we all think about when it comes time to negotiate the deal: wiggling that pesky price down as much as possible. Of course, price is important when you’re buying a home. But it’s not the only negotiable part of the sale—there are plenty of other ways to haggle aside from list price.
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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.
Maximum Exposure Real Estate
DECEMBER 10, 2020
What to Know About Credit Karma Have you ever wondered what Credit Karma is and how it works? Maybe you have seen their advertisements on television? Your credit score is one of the most critical pieces of financial information, especially when buying a home. For a long time now, creditors and lenders have used your […]. The post Credit Karma: What Is It and How Does It Work Including Video appeared first on Massachusetts Real Estate Exposure.
Better Dwelling
DECEMBER 5, 2020
Toronto may finally start taxing vacant homes. City of Toronto staff recommended a vacant home tax to council this week. The tax would place a penalty on those that use residential property in the City for less than half the year. By doing so, the City hopes to join other major cities like Paris in […]. The post Toronto Will Finally Get A Vacant Home Tax, After Bleeding Millennials For Years appeared first on Better Dwelling.
Housing Wire
DECEMBER 10, 2020
Despite slightly higher Treasury yields, mortgage rates held steady at record lows this week, according to a survey by Freddie Mac. Rates remained at last week’s level of 2.71% for the 30-year fixed rate mortgage, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher,” Freddie Mac Chief Economist Sam Khater said.
Realtor.com
DECEMBER 8, 2020
HGTV Tamara Day of “Bargain Mansions” is always getting creative with her renovations, but with her latest project, she is given a clean slate, with a house that’s been stripped down to the studs. In the Season 3 episode “On Par for Glory,” Day has purchased a classic Kansas City home for $247,000, and spends $150,000 on the renovation.
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The American Genius for Real Estate
DECEMBER 10, 2020
(ECONOMY) Why is there such a strong divergence in consumer confidence right now, and why is real estate a primary factor? The post Housing’s role in consumer confidence and the K-shaped recovery appeared first on The American Genius Real Estate.
Better Dwelling
DECEMBER 7, 2020
Another Big Six bank has notified investors they’re prepared for falling home prices in the near future. National Bank of Canada (NBC) notified investors last week the bank has revised its outlook based on data up to Oct 31. While some indicators had surprising improvements from the previous forecast, some have revised lower. In all […]. The post National Bank of Canada Tells Investors They’re Preparing For Real Estate Price Drops appeared first on Better Dwelling.
Housing Wire
DECEMBER 9, 2020
Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4 trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while. “I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. “They are nearly impossible to finance, thus n
Realtor.com
DECEMBER 7, 2020
photoman/Getty Images The kitchen is a major focal point of a home—after all, it’s where meals are made to nourish your family, and where guests (when you can host them safely again) tend to gather, no matter how carefully you’ve arranged your living room. Because of that, the kitchen is a key selling point, which may intimidate some people from thinking outside the box when it comes to kitchen design.
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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.
Homes.com
DECEMBER 9, 2020
With the dramatic impacts COVID-19 has left on the homebuying and selling industry, we look at the best ways to market your home in 2021. The post Prepping Your Home to Sell in 2021: How to Attract Homebuyers appeared first on Homes.com.
Better Dwelling
DECEMBER 10, 2020
Canadian millennials are doing much worse than the previous generation. New Statistics Canada (Stat Can) data shows millennials make much more than Gen X did at their age. Despite significantly higher wages, they pay much more than the last generation did for basic necessities. That’s further complicated by the fact they also pay more in […].
Housing Wire
DECEMBER 10, 2020
Since the pandemic caused many employers to shift employees to working from home – some indefinitely – homeowners have left cramped spaces in large cities and retreated to more urban and rural areas with bigger homes at a lower cost. At the National Association of Realtors Real Estate Forecast Summit on Thursday, NAR’S Chief Economist Lawrence Yun explained that although many are working from home now, he doesn’t expect that change to be permanent.
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