U.S. Land Border Plan: Vaccinated Canadians Can Return in Nov.
Officials say Canadians can start returning in early Nov. if they’re fully vaccinated. One twist: It’s unclear if that includes Canadians who got two different vaccines.
Some Nonbanks Raised Conforming Loan Limits to $625K
Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.
What Would Boost the Real Estate Industry? More Babies
The U.S. birth rate is the lowest it’s been in more than 100 years, and pregnant homeowner couples are a top reason buyers decide to upgrade to a large house.
U.S. Foreclosures Soar – But They Also Fall
In 3Q, the number of U.S. foreclosures surged 67% year-to-year as homes exited forbearance and bans ended. But compared to “normal” 3Q 2019, they’re down 60%.
Jumbo Home Loans Near Pre-2008 Crisis Levels
Fewer buyers qualify for conventional mortgages due to higher prices and lower downpayments. As a result, the number of jumbo loans is at pre-Great-Recession levels.
Can’t Afford a Home? Co-buying Skyrockets
More roommates are committing to long-term relationships and co-buying a home. ATTOM says the number of co-buyers with different last names surged 771% in six years.
Buyer, 84, Fatally Shoots Agent Over Home Dispute
A Va. homebuyer bought a home sight unseen and wanted to “return the house.” He killed his real estate agent who went over to talk about it and, later, himself.
Lawmakers Consider Changes to Fla. Law After Surfside Tragedy
How can the state mitigate condo disasters following the tragedy in Surfside? A Fla. Bar task force pulled together experts and submitted its recommendations on Tues. In Sept., Realtors outlined the problems condo buyers face getting important docs, suggesting better records and tighter oversight.
Commercial Investors Worry About Possible 1031 Exchange Rules
The Biden Admin. wants a $500K limit for like-kind exchanges, which allow investors to defer taxes. If enacted, the change could have a big impact on commercial RE sales.
Fortify Finances Against Natural Disaster
It’s not enough to pack survival tools and photos when evacuating before a disaster. Pack cash too – or at least have credit that can help you cover the first few days.