NAR to Members: Don’t Panic Over PRO Act
A bill passed by the U.S. House could affect Realtors who are independent contractors, but NAR says it’s working with senators to include a Realtor exception in the bill.
Hospitality Industry Expects a ‘Vaxication’ Turnaround
While the pandemic hit the hospitality industry hard, it expects a big rebound if newly vaccinated Americans over-compensate for vacations they lost out on in 2020.
Home Flipping – and Profit Margins – Lower in 2020
The 2020 real estate market wasn’t ideal for home flippers who buy homes, fix them up and resell. ATTOM’s 2020 report found that fewer home flips were funded by fewer mortgages. And while gross profits went higher, profit margins dipped for the third straight year.
Some Fla. Agents See a ‘Mass Migration’ from Calif.
Pandemic relocation numbers aren’t out yet, but agents across Fla. report a higher number of new clients are Californians looking for a less expensive lifestyle.
New-Home Costs Skyrocketing – and Not Just Due to Lumber
While lumber costs deserve a lot of the blame for the rising price of new homes, other things – crude oil (paint), drywall, ceramic tile – are also more expensive.
For Many Buyers, Luck and Superstition a Top Concern
Survey: 2 out of 5 (38%) buyers say they rejected a listing because it didn’t feel quite right – and 50% would blow their budget for one that felt lucky.
Legal Q&A: What Are Illegal Condo Board Activities?
Can a delinquent owner’s name be included in the minutes? Can a board ban recordings? Must board members’ names be recorded on how they voted?
Hot Housing Market Fuels a Rise in Homeowners’ Equity
Homeowners with a mortgage – 62% of all U.S. owners – made an average $26,300 last year as equity skyrocketed. It’s the highest one-year equity increase since 2013.
Fed Meets, Expects No Interest Rate Hikes Through 2023
Faced with a strengthening economy, some observers expected the Fed to tighten the timeframe for interest rate hikes, but it stuck to 2023 after a meeting this week.
Mortgage Rates Inch Up and Hit 9-Month High: 3.09%
Rates broke the 3% barrier two weeks ago and have increased each week since, leading Freddie Mac’s chief economist to call buyer competition “a challenging reality.”