Instant Reaction: Mortgage Rates, September 01, 2022 On September 1, 2022, mortgage rates continued to rise, with the 30-year fixed mortgage rate inching up to 5.66% from 5.55% the previous week. By: Nadia Evangelou Mortgage Financing Powered by WPeMatico
SCR has received reports from members suggesting that everyone needs to review their insurance periodically with their insurance providers, especially homeowners insurance regarding inflationary pressures that may have increased the real world cost to replace a home in the event that catastrophic damage occurs to the home. Other insurance to review, earthquake, flood, health, life,… Continue Reading Insurance, Review
Photographs on the internet/MLS are easy to cut/copy and paste. But cutting/copying and pasting photos you find on the internet/MLS can get you into trouble. Photographs are intellectual property (content) generally owned by the creator who can transfer or license ownership to others. Think about copyright law and lawsuits. If you did not take the… Continue Reading Photographs, Be Wary of Using Unless You Took or You Have Authorization
Research Spotlight: 2022 Remodeling Impact Report NAR's Remodeling Impact Report examines reasons for remodeling, the outcome of projects, and the increase in happiness at project completion. By: Meredith Dunn Remodeling Powered by WPeMatico
After the Surfside condo collapse, the feds created some risk management using Fannie and Freddie lending which may impact your condo deals (e.g., risk management questionnaire). Please contact SCR if you have reports of condo purchase issues related to these risk management rules (e.g., the HOA is hesitant to complete the risk management questionnaire, multistory… Continue Reading NAR on Condo Questionnaire Issues from the Feds
South Carolina Association of REALTORS® (SCR) Forms Policy Permitted users of SCR’s standard forms SCR standard forms should only be used by REALTOR® members of the South Carolina Association of Realtors®. Revisions to format/pre-printed language of a standard form by user Revisions to the format or pre-printed content of any standard forms are prohibited. Permitted… Continue Reading Current SCR Forms Policy
Why Home Staging Inspires the Best Prices in Any Market The Real Estate Staging Association shares why home staging is worth the investment for the home buyer, seller and real estate agent. By: Joanna Fraley Staging Powered by WPeMatico
SCR310 is an AS IS contract with a due diligence section and an inspection/reinspection section to allow a buyer the option to inspect the property and properly negotiate repairs or negotiate seller concessions or terminate. Also, SCR310 allows final inspections. https://screaltors.org/wp-content/uploads/Forms/310.pdf Some buyer agents recommend obtaining all inspections and the buyers decide which inspections to… Continue Reading Buyers Forego Inspections at Their Own Peril!
The Homebuying Market Remains Competitive Inventory remains in tight supply, which means homes are still moving at a fast pace despite the recent rise in rates and home prices. By: Jessica Lautz Powered by WPeMatico
July 2022 PHS Falls to the Lowest Pace Since April 2020 NAR released a summary of pending home sales data showing that July's pending home sales pace weakened 1.0% last month and fell 19.9% from a... By: Michael Hyman Powered by WPeMatico