Top Tactic of Buyers to Win Bidding Wars? Cash
A Redfin survey of agents found all-cash offers 334% more effective in bidding wars – but escalation clauses and waiving inspection contingencies had little impact.
2nd Suspect Arrested in S. Fla. Real State Scam
The second suspect was arrested in a Kissimmee hotel and sent back to Miami-Dade. The first suspect turned herself in earlier; the third is still at large.
Credit Scores: ‘Buy Now, Pay Later’ Doesn’t Help
Retail websites introduced offers like “4 monthly installments,” and credit score firms may consider them under payment history – but they haven’t done so yet.
Congress’ Spending Bill Has Some Housing Wins
Congress passed a bill that keeps government running through the fiscal year. It also extends flood insurance to Sept. 30 and adds $85M to boost fair housing.
RE Q&A: Must Condo Boards Send Candidate Info?
Also: Is it OK to suspend voting rights for people who haven’t paid their dues? And: A condo board makes motions and takes votes via email. That’s wrong, right?
Study: FEMA Underestimates U.S. Flood Risk
North Carolina State University used AI to predict potential flood damage and found 790K square miles have a greater risk than FEMA identifies in its maps.
Fla.: 2nd Highest Foreclosure Rate – But No Big Deal
Foreclosure rates are low and inching their way back to normal, with no post-pandemic impact so far. Still, only Calif. had more than Fla. in January.
Cheaper to Rent than Buy? One Huge Caveat
In a handful of U.S. metros, studies say it’s cheaper right now to rent – but those studies assume renters must take any savings and invest it rather than spend it.
Communication Mistakes Agents Should Avoid
The “you” everyone loves at parties might not work with every client. Sometimes familiar banter can be misinterpreted or give clients the wrong impression.
With Mortgage Servicers, What Is an Actual ‘Service’?
RESPA and Regulation X create strict obligations a mortgage servicer must follow – but courts have been tasked to decide which “services” fall under that regulation.