Prediction: ‘5G Availability’ to Become Major Selling Point
Thanks in part to working from home, people want blazing fast internet access, and 5G, once widely installed, could be up to 100 times faster than current 4G connections.
NAR’s Board Meets, Votes on Changes
Dues won’t go up in 2022, an MLS policy now requires property addresses for residential listings on the day they’re submitted to the MLS, and new policies were approved.
3 Issues That Could Affect Second-Home Sales
Financing for a second-home purchase could be limited, taxes could go up for 1031 like-kind exchanges, and policy updates are expected for national flood insurance.
CFPB Preparing for Hectic Transition as Housing Protections End
The housing industry had an artificial pause button pushed during the pandemic, thanks to eviction moratoriums, forbearance programs, etc. As those draw to a close, CFPB proposed rules to maintain stability, and NAR commented with a suggestion that short sales might be the way to go.
It’s Time: Prepare for the ‘21 Hurricane Season
The season starts in two weeks: June 1. What will happen to pets if you evacuate? What about work? What about school? If separated from family, how will you meet up?
Rebranding: Quicken Loans to Soon Become Rocket Mortgage
After July 31, Quicken will retire its name and start using Rocket Mortgage, a subsidiary it formed in 2015 in order to completely automate the lending process.
NAR Economic Forecast: Consumers Will Propel 2021 Growth
After the quickest recovery in the nation’s history, consumers with pandemic savings will “do more shopping, restaurant dining, traveling and in-person house hunting.”
Fla. No. 1 for Median List Price, Most Expensive Home Price Gap
Realtor.com study: The median asking price for a Fla. home in April was $367,450; the asking price for the most expensive listing was $95M – a 25,754% difference.
Mortgage Rates Down a Bit – But Can It Continue?
The average 30-year, fixed-rate mortgage dropped to 2.94% from last week’s 2.96%, but with inflation apparently rising, they’ll likely change direction soon.
Foreclosures Less Likely with Few Homes Underwater
Underwater homeowners – they owe more on their mortgage than their home’s value – are more likely to end up in foreclosure. But today, 1 in 3 owners with a mortgage (32%) have at least 50% equity, and only 1 in 21 (4.7%) owes 25% or more than their home’s current market value.