Some Credit Scores Could Move 80 Points Higher
A study to find the impact of new credit score data – rent and utility payments – found the biggest boost for consumers who haven’t used credit in at least six months.
1 of 3 Opportunity Zone Tax Breaks Ends Dec. 31
A 10% capital-gains tax reduction for properties owned at least five years expires on Dec. 31 since future purchases won’t qualify for the five-year time minimum.
Suburbs Still Hot but Urban Demand Increasing
NAHB: During the pandemic, many city dwellers turned to suburban and exurb homes. The trend continues but less so as cities see a spike in buyer demand.
Too-Big-to-Fail Chinese RE Firm Creating Problems
Evergrande, a huge Chinese real estate firm, has a $310B mountain of debt. Collapse could create a housing crisis, but it’s unclear how China will handle it.
DOJ Successfully Sues Town Over Group Home Zoning
A Conn. town reached an agreement with the Justice Dept. after it used zoning laws to ban disabled-adult group homes from residential neighborhoods.
Code of Ethics Training Deadline: Dec. 31, 2021
To retain their Realtor status, members must satisfy NAR’s Code of Ethics training requirement within the next 24 days if they haven’t already done so.
Foreclosures Up 68% – but Less than Pre-Pandemic
The foreclosure ban ended, sending numbers higher (up 34% quarter-to-quarter, 68% year-to-year) – but the impact on the market is minimal so far.
Vrbo: Demand Up 40% for Pet-Friendly Rentals
The short-term rental company will add an upscale doghouse to a rental for an extra $100. It offers five styles, including a chalet with a fireplace.
Virtual Website ‘Real’ Estate Sells for Record $2.4M
As expectations for virtual “real estate” heat up, prices follow. That $2.4M buys 116 parcels (6,090-square-feet) in Decentraland, which only exists online.
Fla.’s CFO Focuses on Property Insurance Fraud
Chief Financial Officer Jimmy Patronis formed and deployed two new teams to investigate fraud – a total of 13 members that includes detectives.