A new study from the National Association of REALTORS® found a decline in the number of foreign homebuyers in the U.S. as well as the total sales volume. Total international sales totaled $121 billion during April 2017 to March 2018, a 21 percent decline from the previous 12-month period. NAR Chief Economist Lawrence Yun blamed… Continue Reading Story Idea: NAR Study Shows Decline in International Home Buyers
The NAR Research Group and REALTOR.COM have partnered to conduct an analysis of affordability at different income levels for all active inventory on the market. The result of this analysis, the REALTORS® Affordability Distribution Curve and Score, shows that housing affordability across the United States declined in July compared to a year earlier. The main… Continue Reading Housing Affordability in July 2018
The National Association of Realtors® is proud to introduce the Center for REALTOR® Financial Wellness, a new resource designed exclusively to meet the specific financial planning needs of Realtors® – members of the National Association of Realtors®. This comprehensive program includes education materials and resources for wealth building, business planning and investing in real estate.… Continue Reading NAR Introduces the Center for REALTOR® Financial Wellness
Buyers need their attorney to investigate CCR's and HOA's either prior to contract or during the due diligence period if the buyer wants the ability to terminate should there be CCR's or HOA or Condo issues that the buyer does not want (e.g. visitor restrictions, rental restrictions, costs, management, solvency, cannot park RV/boat/tractor trainer on… Continue Reading Covenants, Restrictions, Owners Association, Condo Deed, Bylaws
Why Due Diligence Addendum SCR311 is Good for Sellers and Buyers Sellers get paid the SCR311 due diligence termination fee when the buyers timely/properly terminate under due diligence. Sellers avoid litigation and lawyers and experts and mediation that can cost the sellers time and money with the first failed deal and that failed deal’s lawsuits… Continue Reading How Repair Procedure Questions Get Answered.
Photo credit: VHT Studios By Brian Balduf, VHT Studios Technology and the convenience it offers to buyers and sellers has changed real estate forever. The days of starting a home search inside the office or car of a real estate professional and touring five or six houses are long gone. Now, interested buyers expect to… Continue Reading Virtual Staging Transforms Cold, Vacant Spaces Into Warm, Welcoming Homes
Steve Martin, better meetings, a new Girl Scout cookie, a solution for open offices and making schools safer for students and staff. Making meetings more effective. We all need that! More than 8 million square feet of shopping space–what else will the new Dubai Square mall contain? Floor to ceiling windows can make schools safer,… Continue Reading What We’re Reading: August 13-17
NAR Code of Ethics Article 12: Standard of Practice 12-4 REALTORS® shall not offer for sale/lease or advertise property without authority. SC real estate license law: (E)(1) A licensee may not advertise, market, or offer to conduct a real estate transaction involving real estate owned, in whole or in part, by another person without first… Continue Reading Advertising Properties with/without Listing Agreement
Pop quiz, do you know what C.L.U.E. stands for? (See the answer at the bottom of this article.) p.s. If you do not know what a C.L.U.E. report means in general and you practice real estate, you are already at risk for a lawsuit. [Contact asap your BIC, your law firm, your E&O insurer, the SCR legal… Continue Reading Insurance Problems, Flood Insurance Problems, CLUE report
Home prices continue to increase although the pace of price appreciation has slowed. As of June 2018, the national median sales price of existing homes sold rose to a peak of $276,900, the highest level since 20001 when NAR started tracking this data. However, the pace of appreciation has been slowing. In June 2018, the… Continue Reading Which Metro Areas Have Rising Prices and Faster Selling Time as of June 2018?