How Do You Get a Home Loan After Retirement?
In general, monthly income helps mortgage qualifying more than retirement money in the bank. Retirees should prep for a purchase a few months before they plan to buy.
Survey: 2 Out of 3 Buyers Shopped for More than 3 Months
2 out of 5 (38%) actively engaged homebuyers said high prices kept them from actually submitting a bid, while 30% said they’d put in an offer but were outbid.
NAR Approves Changes to Professional Standards Rules
The board voted to add Standard of Practice 10-5, which requires Realtors “not use harassing speech, hate speech, epithets or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation or gender identity” even outside real estate transactions.
Unique Challenges Continue to Arise in Commercial Real Estate
Florida Realtors’ Economist: NAR released its Commercial Market Insights report, and it suggests that nuances between asset types and class indicate opportunity and risk.
Pandemic Boosts the Popularity of Online Rental Scams
More crooks scrape your for-sale or for-rent ads, change contact info and try to scam renters out of money – a crime tactic that works even better during the pandemic.
Industry Says It Supports $15K First-Time Buyer Tax Credit
However, a tax credit for first-time buyers, part of Pres.-Elect Biden’s housing plan, won’t do much good if a low inventory keeps pushing prices higher.
First Affordable Housing REIT Puts Spotlight on Growing Sector
The affordable housing sector has proved resilient, and the new real estate investment trust (REIT, which trades similar to stocks) will focus on Opportunity Zones.
Legal Q&A: Is a 4-Year-Old Roof Approval Still Valid?
Also: The banging and slamming from an upstairs unit feels almost intentional, and it goes on all night long. What can lower-unit owners legally do?
Personal Protection: Some Realtors Add New Weapon. Literally
NAR says about 1 out of 7 Realtors carries a firearm if working with a stranger, though men are more likely to carry a gun while women prefer pepper spray.
NAR’s 2020 Buyer/Seller Survey Finds 14 Pandemic-Led Changes
There’s increased demand for the suburbs and home offices, and more sellers want to upsize. They also have a greater feeling of urgency and rely more heavily on tech.