Pending home sales picked up the pace in March, but ongoing issues related to low inventory kept contract activity below year-ago levels, the National Association of REALTORS® reported Monday. NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, inched up 0.4 percent to a reading of 107.6 in March. Despite the uptick, overall activity was down on an annualized basis for the third consecutive month.“Healthy
The Consumer Financial Protection Bureau says it has fixed what’s become known as an information “black hole” in the Know Before You Owe mortgage rules, and the agency is attempting to provide greater clarity to borrowers when it comes to disclosing increases in closing costs. Under a new amendment to the mortgage rules, the CFPB clarifies when lenders are allowed to pass increased closing costs on to consumers and makes the disclosure of
With a tight market this spring, competition for listings and buyers will be fiercer among real estate professionals. So how can you show clients you’d be the best representative for their housing needs? Forbes.com recently featured tips for salespeople to capture more of their market share, including personalizing your sales pitches, showing greater understanding for clients, and even reverting to mail.Show a complete understanding of the situ
A new federal rule is expected to exempt nearly one-third of commercial property sales from needing an appraisal. The rule, which was adopted by the Federal Reserve Board, Federal Deposit Insurance Corp., and Office of the Comptroller of the Currency, doubles the threshold for commercial real estate deals that require an independent appraisal.Under the new rule, commercial property sales of $500,000 or less are exempt from the appraisal requireme
Freddie Mac is debuting a new 3 percent down payment option for qualified first-time buyers that could put it in direct competition with the Federal Housing Administration’s low down payment mortgage. The mortgage financing giant announced Thursday that it is rolling out a new conventional 3 percent down payment option called HomeOne, which will not have any geographic or income restrictions.Freddie’s expansion into small down payment loan p
Whether you’re speaking in front of your office or presenting at a real estate conference, sweaty palms, shaky hands, and an accelerated heart rate are pretty common reactions. In fact, more than 70 percent of adults fear public speaking. But you don’t have to let that anxiety hold you back from delivering a strong, influential presentation. Here are five tips from marketing expert and speaker Marc Gordon for keeping your cool and captivating
Over the last year, more Americans became homeowners as the number of renters continued to decrease. The homeownership rate in the first quarter was unchanged at 64.2 percent, higher than last year’s 63.6 percent, the Census Department reported Thursday. This is also the fifth consecutive quarter of yearly increases in the ownership rate.The homeownership rate has been gradually climbing back since hitting a 50-year low in 2016. The rate peake
Mortgage rates continued their climb this week, reaching their highest level since 2013.“Higher Treasury yields, driven by rising commodity prices, more Treasury issuances, and the steady stream of solid economic news are behind the uptick in rates over the past week,” says Sam Khater, Freddie Mac’s chief economist. “Despite the increase in borrowing costs, demand for home purchase credit remains solid.” The Mortgage Bankers Associatio
Gmail, the world’s most popular email service, underwent a big transformation this week. Among the changes, users can now do email snoozing, nudging, and confidential mode.The changes are being phased in gradually to Gmail’s 1.4 billion users. Jacob Bank, lead product manager for Gmail, told The Verge the redesign is to make “people safer and more productive” when using the email service.Here are a few of the changes Gmail users can expec
The Florida REALTORS® and the Canada Real Estate Association have entered into a cross-border cooperation agreement to exchange information about international transactions and customers. The groups have signed a memorandum to develop a “mutually beneficial relationship” to encourage the sharing of information, including customer referrals.“The value of international collaboration cannot be overstated,” says CREA’s CEO Michael Bourque.
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