The following Field Guides have recently been updated in the Library: Updated in the Library at Realtor.org: Escrow Accounts/Earnest Money Escrow accounts are funds that a lender collects to pay the monthly mortgage insurance premiums, home owners insurance policy premiums and yearly property taxes. Earnest money, on the other hand, is a good faith sum… Continue Reading New and Updated in the Library – March 2017
WASHINGTON (March 22, 2017) — After starting the year at the fastest pace in almost a decade, existing-home sales slid in February but remained above year ago levels both nationally and in all major regions, according to the National Association of Realtors®. Total existing-home sales 1, which are completed transactions that include single-family homes, townhomes,… Continue Reading Existing-Home Sales Stumble in February
In late January, the new Trump administration froze a number of policy changes made in the waning days of the Obama Presidency. One such change, a 25 basis point increase in the mortgage insurance premium (MIP) charged by the Federal Housing Administration (FHA), was previously analyzed by NAR Research. Here we report local impacts of… Continue Reading Broad Impact of the FHA Fee Freeze
Talk to a Realtor® in much of the country right now and they’ll all echo a similar narrative: homes are selling quickly because there are not enough listings on the market. It’s why existing sales stumbled in February and price growth accelerated to its fastest pace in over a year (7.7 percent). Even more staggering, inventory… Continue Reading Existing-Home Sales Hit Rough Patch in February
Photo courtesy Paint Quality Institute Many do-it-yourself painters spend hours selecting the perfect paint colors, but give far less thought to the sheen they’ll use. That’s short sighted, according to Debbie Zimmer, spokesperson for the Paint Quality Institute. “Paint sheen affects not only the initial appearance of a paint job, but also its long-term performance,” says… Continue Reading How to Select the Right Sheen to Your Paint
Economic activity continued on an upward trend in the last quarter of 2016, but at a slower pace, as the first estimate of real gross domestic product (GDP) from the Bureau of Economic Analysis documented. Preliminary figures indicated that GDP rose at an annual rate of 1.9 percent, on par with the average 1.9 percent… Continue Reading Demand for Apartments Remains Solid in 2017
Listings, fashion, life hacks, office temp, weather, technology, cookies, and the web. A regal home has entered the market at a bargain price for someone. Twitter, we agree with you. Hard pass. Do you have any tricks to raising teens? This arrangement might be helpful. We seriously doubt the validity of this method. What do… Continue Reading What We’re Reading: March 13-17
On St. Patrick’s Day, it’s a tradition for many to raise a glass and toast the luck o’ the Irish. For potential buyers without the luck of the Irish on their side, the number 10 may be what brings them the most good fortune when it comes to real estate and finding the perfect home. Why is… Continue Reading Lucky numbers in homebuying
There’s been a lot of talk within the industry about appraisals lately, especially on issues like turnaround times, higher and/or “rush fees,” and the challenge of bringing new appraisers into the profession. The National Association of Realtors® just released fresh survey data from over 2,000 appraisers that offers some fresh evidence of what’s driving the conversation.… Continue Reading Appraiser Survey Shows Challenges Remain for Practitioners
You may recall a previous post about Sue Dietz, an Iowa real estate agent whose identity was being used by scammers to send fraudulent emails to other real estate professionals all over the country. The emails, which were sent from an email address using Dietz’s name, offered a bogus client referral. Anyone who responded to… Continue Reading 3 Actions to Take After You Receive a Bogus Email