Sat.Dec 05, 2020 - Fri.Dec 11, 2020

Housing market outlook for 2021…and beyond

Housing Wire

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.

Why It Makes Sense to Sell Your House This Holiday Season

Keeping Current Matters

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.

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What is a Contingent House Listing?

Point2Homes

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.

RBC’s “Worst Case” For Canadian Real Estate Is A Price Drop of Nearly 30%

Better Dwelling

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.

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Fannie Mae extends relaxed appraisal, lending standards

Housing Wire

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.

Are Home Prices Headed Toward Bubble Territory?

Keeping Current Matters

Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is well above historic annual averages.

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A Canadian Bank Already Sees Expired Mortgage Payment Deferrals Turn Delinquent

Better Dwelling

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.

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HW Media acquires REAL Trends to combine two of real estate’s most powerful media outlets

Housing Wire

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.

How Remote Work Can Power Your Vacation Home Sale

Keeping Current Matters

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.”.

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23 Of The Strangest Things Homebuyers Have Asked Sellers to Leave With the Property

Lighter Side of Real Estate

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.

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Preparing for a Post-COVID Real Estate Market

RIS Media

The real estate market is different during COVID-19 compared to what we have seen in the past. Homes are selling faster and for higher prices than ever before. With everything going on in the market, are you prepared to tackle the real estate market post COVID-19?

How to grow housing supply in 2021

Housing Wire

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.

An Honest Look at Unemployment Numbers

Keeping Current Matters

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.

Toronto Will Finally Get A Vacant Home Tax, After Bleeding Millennials For Years

Better Dwelling

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.

U.S. Housing Market Will Withstand a Wave of Foreclosures When Forbearance Ends

Redfin

Investors and first-time homebuyers will quickly buy up an impending wave of foreclosures from homeowners saddled with debt during the pandemic . More than 3.3. million of U.S. homeowners will be on the hook for delinquent payments when mortgage forbearance ends.

Mr. Cooper settles $90M lawsuit over illegal foreclosures

Housing Wire

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.

Cooling Stress Tips: Dealing With Burnout During Our Pandemic

RIS Media

(TNS)—Are you feeling tired and weary dealing with the same problems every day? You likely wake up thinking about COVID-19. Then you crawl out of bed and view the numbers on TV. Next, you gauge how you’ll cope for the next 24 hours. You know you have coronavirus burnout.

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Housing’s role in consumer confidence and the K-shaped recovery

The American Genius for Real Estate

(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.

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Tips for Buying a Foreclosure Property

Point2Homes

Image: Andy Dean Photography / Shutterstock.com. If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense.

What’s next for housing in 2021?

Housing Wire

As we look ahead to 2021, we remember that this year, the housing market has continued to remain a bright spot in the economy, even as other areas continue to struggle amid stay-at-home orders and economic shutdowns. COVID-19 threw the economy for a loop in 2020.

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Fireplace Safety and Maintenance: What You Need to Know

RIS Media

Winter is almost here and that means you can put that wood-burning fireplace to use! Fires are a great way to unwind and stay warm throughout the season, but there are certain safety precautions and maintenance you should be aware of.

COVID-19 mortgage relief and rental relief programs [Updated for December 2020]

The Morgtage Report

Current list of government and private relief programs to help homeowners and renters economically affected by COVID-19. Mortgage News Mortgage Strategy Renters

Mortgage Preapproval vs Prequalification: What’s The Difference

Maximum Exposure Real Estate

How Pre-approval Differs From Pre-qualification Do you know how mortgage preapproval differs from a prequalification?

Why 28% of mortgage applicants never close the loan

Housing Wire

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

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Building a Brand Through Exceptional Service

RIS Media

You know you’ve made it when someone talks about buying or selling a home with a friend, and your name is the first thing to come up.

Is it worth refinancing to save $100 a month?

The Morgtage Report

It might be worth refinancing to save $100 per month if you can break even on your closing costs. Here's how to decide if refinancing is worth it for you. Mortgage Strategy Refinance

Credit Karma: What Is It and How Does It Work Including Video

Maximum Exposure Real Estate

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.

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Mortgage rates hold steady at record lows

Housing Wire

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.

StatCan: Millennials Make More Than Previous Generations, But Spend It On Necessities

Better Dwelling

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.

How to get a second home mortgage or vacation home loan

The Morgtage Report

Second home mortgages offer low rates and flexible requirements for qualified buyers. Here's what to know before getting a vacation home loan. Mortgage Products Mortgage Strategy Gina Pogol Housing Mortgage mortgage rates Real Estate Second Homes

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