New Law Cracks Down on Shell Companies, Combats Corruption
In a “watershed overhaul” of money laundering laws, all shell companies involved in U.S. transactions – real estate and others – must now identify the owners’ names.
Tighter Rules May Hurt Condo Lending in Vacation Areas
Fannie and Freddie will no longer fund condo loans in high-rent vacation areas. Bankers say entire complexes, even with few rentals, may be ineligible for financing.
When Will That $25B Get to Renters and Landlords?
It will probably take several more weeks for newly approved rental assistance to trickle down and cover tenants’ past-due rents. Fla. will likely receive about $1.4B. It’s not enough, but it should cover the past-due rent balances ($6,000 each) for more than 200K Fla. households.
Buyers and Sellers More Cautious as COVID-19 Cases Spike
A monthly survey for Dec. found market optimism dipping. It could be pandemic fatigue, a delay based on future vaccine hopes or frustration over a lack of inventory.
What Credit Score Do You Need to Buy a House?
With record-low interest rates, more buyers can afford a home – or a better home. But they have to qualify for a mortgage first, and their credit score could be a problem.
Lead Magnets that Can Expand Luxury-Home Marketing Efforts?
Why focus on building an email list? People tend to open emails from people they trust – and turn to the sender for advice if they want to buy or sell a luxury home.
More Small-Business PPP Loans Are on the Way
SBA and the Treasury Dept. are preparing to revive the PPP loan program. Businesses that already received a loan last year will be able to borrow up to $2 million soon if they have no more than 300 employees and suffered at least a 25% drop in quarterly revenue.
Experts: Mortgage Rates Have Probably Hit Bottom
At 2.65%, the average 30-year, FRM hit its 17th record low in less than a year. But experts predict an increase soon as the “forces behind the drop” shift.
Expressing Gratitude Right Thing to Do – and a Sales Tool
If business is “all about relationships,” expressing gratitude is one of the building blocks. It’s not just a life tool Mom taught you, it’s also a marketing tool.
Condo Q&A: Does a President Have the Authority to Approve Work?
“It’s in the budget” doesn’t necessarily mean “the president can sign a contract.” Also: If we had no quorum for an election, do we have to reschedule this year?