NAR recently released 2017 Real Estate in a Digital Age report takes a deeper look at REALTORS® use of digital technology. Real estate agents predominantly communicate with clients using digital means, namely email (94 percent), phone (91 percent), and text messaging (90 percent). The majority of REALTORS® use email, computers, and smartphones daily and 48… Continue Reading REALTORS® Keep Up with Technology in the Digital Age
Existing-home sales dropped 3.7 percent in February from one month prior while new home sales increased 6.1 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 (February 2017)
WASHINGTON (April 4, 2017) – Challenges facing real estate appraisers servicing the Veterans Affairs were under Congress’s microscope this week as the National Association of Realtors® and other industry leaders took to Capitol Hill to hail the continued success of the VA Home Loan Guaranty Program. Michelle Bradley, a state-certified general real property appraiser from… Continue Reading VA Home Loan Program Marked by Strong Underwriting, but Appraisers Raise Concerns
Alexis Craig By Alexis Craig My family hates playing board games with me. I’m really competitive. They like to say, “It’s just for fun,” but I’m not buying any of it. I play to win. That mindset is present in every aspect of my life, especially real estate. I have this obsession with becoming the… Continue Reading How to Compete With Top Agents Even When You’re New
It’s no secret that a professional appraisal is key to getting a clear understanding of the home purchase. It’s an important part of ensuring that buyers pay a fair price for their new home, and buyers who utilize the Department of Veterans Affairs’ Home Loan Guaranty Program are no exception. Realtors® took to Capitol Hill… Continue Reading NAR Goes to Capitol Hill on Appraisals for VA Home Loan Program
Sales to first-time homebuyers accounted for 32 percent of residential sales in February 2017 (33 percent in January 2017; 30 percent in February 2016), according to the February 2017 REALTORS® Confidence Index Survey Report, a monthly survey of REALTORS® about their sales activity and local market conditions.[1] Sustained job growth and improving incomes along with… Continue Reading First-time Homebuyers: 32 Percent of Residential Market in February 2017
Federal Legal Holidays, Deadlines, and the Residential Sales Agreement The SCR standard residential sales agreements set various deadlines via a business day count. To stop arguments about when a document was physically or electronically delivered and received (9:59 am or 10 am or 10:01 am), SCR310 begins the counting of 24 hour periods on the… Continue Reading Federal Legal Holidays, Deadlines, and the Residential Sales Agreement
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In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?” Among REALTORS® who responded to the February 2017 survey, the median expected home price change in the… Continue Reading REALTORS® Expect Home Prices to Increase at a Faster Pace in the Next 12 Months
While total housing inventory continues to fall year-over-year for the last 21 months, more markets are turning into a sellers’ market. Under limited inventory conditions, sellers get more confident. The increased demand exceeds the existing supply, which means that more buyers are seeking to purchase properties than there are available homes on the market. As… Continue Reading Sellers’ Markets: Where Do Sellers Get What They Ask?