Hurricane Season, Multifamily Housing and Preparing
Multifamily Council: If a hurricane threatens Fla., property managers have extra steps to take, including a focus on resident safety before and after the storm hits.
Seller Optimism Has Never Been This High
Survey: 8 out of 10 consumers (77%) say it’s a good time to sell a home. Buyers, however, aren’t quite as pumped: 2 out of 3 (64%) say it’s a bad time to buy a home.
FHA and VA Buyers Struggle to Compete in Today’s Market
Only 30% of sellers are OK with a VA or FHA loan because buyers can’t easily forego things like inspections to compete – plus the home appraisals often come in low.
Experts Say Foreclosure Spike Unlikely as Owners Exit Forbearance
Mortgage bankers say most (77%) homeowners in forbearance already have a payment plan in place – and many who don’t will likely sell rather than go through foreclosure. For most sellers, high home prices will allow them to pay off the mortgage and not even ding their credit scores.
Mortgage Rates Move Lower Again
The average 30-year, fixed-rate mortgage dropped to 2.9% from last week’s 2.98% in Freddie Mac’s weekly survey. The 15-year loan and ARM rates also declined.
Adjustable-Rate Mortgages Staging a Comeback
An “every penny counts” approach by buyers boosted ARMs 12.5% year-to-year, even though average ARM rates (2.54%) are only a bit lower than FRM rates (2.98%).
Spread Your Wings: Identify Your Area’s Top Feeder Market
Florida Realtors economist: Need to find an untapped source for new clients? Look past your own turf to the largest source of movers coming from a different county or state. If 10% of your new residents come from Any County, N.Y., spend some marketing dollars in Any County.
Why Is the Market White Hot? No, It’s Not the Pandemic
The groundwork for today’s inventory shortage was created during the 2008-2009 Great Recession. The pandemic merely made existing problems worse.
Fannie Exec: Think Hard Before Turning Equity Into Cash
Owners dazzled by their home’s equity sometimes keep more than they should in a cash-out refinance – but that can lead to foreclosure if home prices drop even a bit.
Baltimore System Provides Instant Info on Vacant Homes
The city put a QR Code on the front of every vacant house. Realtors, neighbors and curious onlookers can quickly find out who owns the property via their cellphone.