FHFA Seeking Comments on Appraisal Process Overhaul
Appraisal policies may (or may not) change, but the industry’s federal oversight administration put out a request for comments about current home appraisal practices.
Routines Are Comfy – but Sometimes Brokerages Stagnate
Routine isn’t bad, but it can stifle change as agents check off boxes in a daily routine. These 6 productivity tips can help brokers breathe new life into the business.
Fewer Sellers Drop Asking Prices in Tight Housing Market
The number of listing price cuts flatlined Feb. to March at around 4% because some sellers expected a buyers’ market to appear – but they dropped to 2.9% in April.
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.