Lenders’ reluctance to share closing disclosures (CDs) with REALTORS® rose in the 2nd quarter of 2016 according to responses to NAR’s Survey of Mortgage Originators. Under the new Know Before You Owe or TRID rules, the HUD-1 closing form was replaced with the CD. In the past, REALTORS® frequently reviewed the HUD-1 for their clients… Continue Reading Closing Documents Remain Elusive, but Change Coming
$1,085,000. That was the eye-grabbing, milestone figure highlighted in today’s NAR research release of second quarter metro home prices. For the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million. For the rest of the country the theme of robust price growth continued. Single-family home… Continue Reading Recap: Metro Home Prices Continue Ascent in Second Quarter
Existing-home sales increased 1.1 percent in June from one month prior while new home sales rose 3.5 percent. These headline figures are seasonally adjusted figures and are reported in the news. However, for everyday practitioners, simple raw counts of home sales are often more meaningful than the seasonally adjusted figures. The raw count determines income… Continue Reading Raw Count of Home Sales (June 2016)
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Lenders continue to deal with the effects of TRID and wavering investor demand but are more optimistic about investor demand for mortgage in the second half of 2016. Those are some of the sentiments expressed in the Survey of Mortgage Originators for the 2nd quarter of 2016. NAR surveyed a panel of lenders from credit… Continue Reading TRID Costs and Lender Optomism in the 2nd Quarter
Does house price appreciation prior to children attending college impact their future earnings as adults? This was the subject of a presentation at a recent REALTOR® University Speaker Series by Dr. Daniel Cooper, Senior Economist and Policy Advisor at the Federal Reserve Bank of Boston, who co-authored a study on this question with Maria J.… Continue Reading House Price Growth When Children are Teenagers—A Path to Higher Earnings? A REALTOR® University Speaker Series Presentation
Silicon Valley, history, fashion, MTV, Netflix, architecture, business, the future, and the Olympics. Housing inventory and prices in Silicon Valley have been increasingly discussed issues. Facebook has made a proposal to address these. Like? Vrooom vroom…he’s the leader of the pack! What influence has Elon Musk had this time? Among 90s fashion, cargo shorts weren’t… Continue Reading What We’re Reading: August 1-5
The following Field Guides have recently been updated in the Library: International Referrals With NAR Global, REALTORS® can diversify their clientele. By completing the Certified International Property Specialist (CIPS) designation, the At Home with Diversity (AHWD) certification, or the Resort and Second Home Property Specialist (RSPS) certification, our members gain the global perspective to fully… Continue Reading New and Updated in the Library – August 2016
Field Guides are one-stop resource packages on dozens of subjects of interest to REALTORS®. On each page you’ll find links to articles, books, web sites, statistics, and other material on each subject. The list of the most-used field guides from Information Central for the month of July 2016 was released today: Field Guide to Quick Real… Continue Reading Top Field Guides for July 2016
Hustle, taxation, emoji, engineering feats, binge-watching, ALS, famous homes, birds, and Pokemon. How do you evaluate work performance beyond the normal metrics? The government of British Columbia has taken steps to discourage foreign buyers in the Metro Vancouver area. For all you non-Millennials out there, there’s a translation app for emoji! Ok, we’ll dial back… Continue Reading What We’re Reading: July 25-29