Housing Industry Changes Expected During Biden Administration
Predictions can go spectacularly wrong, but a new focus on consumers could bolster lending rules (CFPB) and perhaps turn Fannie and Freddie into a “utility” (FHFA).
NAR: 2020 Existing Home Sales Hit 14-Year High
U.S. buyers keep snatching up homes as soon as they hit the market. Dec. existing home sales rose 0.7%, and 2020 yearly sales were up 5.6% – the most since 2006.
Fla.’s Housing Market: Strong Gains in Dec. Despite Pandemic
Florida Realtors Dec. data: More closed sales (single-family sales up 21%, condo-townhouse sales up 27.7%), more new pending sales, higher median prices and more new listings year-over-year. Chief Economist O’Connor: Higher pending sales “strongly signal” higher closed sales in 2021.
FHA Now Backing Mortgages for DACA ‘Dreamers’
Immigrants under the Deferred Action for Childhood Arrivals (DACA) program who are legally allowed to work in the U.S. may also now qualify for an FHA loan.
Supreme Court Backs Insurer in Lost Rent Dispute
Fla. Supreme Court: State-run Citizens Property Ins. doesn’t have to compensate a Brevard County apartment owner for rental income lost after hurricane-caused damage.
Do Some Buyers Go Too Far In a Bidding War?
The highest offer tends to win a bidding war, but frustrated buyers hoping to increase their odds have made Harry Potter videos and offered sellers Academy Award tickets.
What Top Stories Do RE Agents Expect in 2021?
According to top agents, 2021 stories will relate in some way to the pandemic, with the tight inventory of homes topping their list. Also: How will vaccinated sellers react? Will a lot decide to list their home this year after months of waiting? And how many homes will go into foreclosure?
How Do You Grow Agent Leaders Within a Brokerage?
Everyone benefits if brokers or team leaders encourage others to lead, and in-house events as simple as a book club can facilitate conversations and encourage growth.
Mortgage Rates Move Slightly Lower –30-year at 2.77%
After last week’s notable increase in mortgage rates, the 30-year, fixed-rate mortgage dipped a bit as it continues to hover near all-time record lows.
FICO: When Should Buyers Start to Check Credit Scores?
The credit-score company created guidelines for people planning to finance a home, car or other loan. Homebuyers should start up to 24 months before shopping.