Current News & Events
Trump to Push Builders to Increase Home Construction
“I’m asking Fannie Mae and Freddie Mac to get Big Homebuilders going,” said Trump. Continue Reading Trump to Push Builders to Increase Home Construction
Report: 72% More Condo Sellers Than Buyers
This marked the fifth straight month in which there have been at least 70% more condo sellers than buyers. Continue Reading Report: 72% More Condo Sellers Than Buyers
How hot is California real estate? It got 99% of its jobs back
Source: Record-Bee --- California’s real estate industry — powered by low mortgage rates, a homebuying binge and a construction push — is nearly back to its pre-pandemic employment levels. When my trusty spreadsheet looked at state jobs data, 15 property-related...
Pocketbook Issues
Source: Scotsman Guide --- The world of loan payments has transformed dramatically over the past year due to the COVID-19 pandemic. Borrowers want and need more from their lenders, including expanded options on when, where and how to make payment. Lenders and...
That Indoor Basketball Court May Be Flashy, but Don’t Expect It To Boost Your Resale Value
Source: Realtor . com --- Even high-profile athletes aren’t exempt from the realities of the real estate market, and both Shaquille O’Neal and Michael Jordan have struggled for years to sell high-priced properties decked out with regulation-sized indoor basketball...
EPA Seeks to Revise Definition of Waters of the U.S.
Source: NAHB --- The U.S. Environmental Protection Agency (EPA) and Department of the Army (the agencies) have announced their intent to revise the definition of “waters of the United States” (WOTUS). EPA Administrator Michael Regan says that the Navigable Waters...
Survey: Staff retention tops list of 2021 lender concerns
Source: Scotsman Guide --- New data from The Mortgage Collaborative (TMC) revealed that personnel retention tops the concerns of mortgage lenders in 2021. According to the organization’s inaugural “The Pulse of the Mortgage Industry” survey, retention of current staff...
Tax bills show how much Covid devalued NYC real estate
Source: The Real Deal--- The pandemic hit the commercial real estate market hard. Property tax bills now reveal just how hard. New York City expects property tax revenue to drop by $1.6 billion, or 5 percent, in the coming fiscal year, Bloomberg News reported. That’s...
Las Vegas Area Home Prices Set New Record in May
Source: The World Property Journal --- Las Vegas Realtors are reporting this week that the median price of existing single-family homes sold in Southern Nevada during May 2021 was $385,000. That tops the all-time record set in April. May's median home price is up...
Luxury Home Sales Surge Twice as Fast as Mid-Priced Homes in U.S.
Source: The World Property Journal --- According to national property broker Redfin, purchases of high-end homes in the U.S. jumped 26% year over year during the three months ending April 30, 2021. That's compared to the 17.8% gain in purchases of affordable homes and...
This Is What Real People Are Doing to Get an Edge in Bidding Wars
Source: Apartment Therapy --- Summer has always been a busy time for the real estate market, but thanks to an unusually low level of inventory and an overwhelmingly high demand for homes, it’s basically been summer since last March. This is bad news for buyers who...
Is the appraisal process color-blind?
Source: Housing Wire --- Recently, at an event marking the 100th anniversary of the Tulsa Race Massacre, President Biden announced the launch of a new interagency task force to root out what it calls inequity in the appraisal industry. As a candidate, Biden’s campaign...
