NEW YORK – Canandaigua and Manhattan’s Chinatown are about as different from each other as two places in the same state can be. One is a small town in New York’s bucolic Finger Lakes region, where almost everyone is a white English-speaker. Chinatown packs nearly 10 times as many residents, many of them foreign-born and … Read more
The board met May 11 during NAR’s legislative meetings in Washington, D.C. Votes focused on the 2024 budget, dues, fair housing training requirements and more. WASHINGTON, D.C. – The National Association of Realtors® (NAR) Board of Directors met in Washington, D.C. on May 11 and took the following actions: Fair housing and diversity training The … Read more
An often-used form of financing for the office market – life insurance companies – has also tightened its purse strings, even as more loans come due. NEW YORK – A traditionally reliable source of capital for commercial property developers, life insurance companies are turning their backs on office building owners as tens of billions of … Read more
Lessons learned during hard times often remain even when things get better. The recession lesson for new agents? Hard work and perseverance pay off. NEW YORK – A generation of real estate agents could be shaped by the coming year’s economic headwinds in multiple ways. In 2023, successful agents will owe their success to hard … Read more
Survey: Most would-be buyers (55%) know it’s a really tough market right now, but a majority (54%) still plan to maintain current goals or speed up the buying process. CHARLOTTE, N.C. – Many hopeful homebuyers – especially those in their 40s and younger – are forging ahead with plans to buy homes despite believing the … Read more
There are “nuisance property” remedies, along with disagreements on what constitutes a nuisance. If an HOA applies, start there. If not, talk to the city. FORT LAUDERDALE, Fla. – Question: Over the last three years, our neighbor’s property has been getting more run down. He does not live in the house; it needs maintenance, and … Read more
FHFA cancels loan fees slated to become effective in August. Based on feedback, it says implementation is “challenging.” NAR calls it a good decision. WASHINGTON – The Federal Housing Finance Agency (FHFA) says it has rescinded the upfront fees once slated to go into effect in August. The fees – based on borrowers’ DTI ratios … Read more
Collateralized loan obligations (CLOs) offer easier terms for apartment building buyers, but their shorter terms and floating interest rates may be creating problems. NEW YORK – Defaults are rising for collateralized loan obligations (CLOs), which are mortgages packaged into bonds and sold to investors. These types of mortgages helped fuel rising housing costs across Sunbelt … Read more
Home prices continue to rise in most (70%) of the U.S., and are up notably year-to-year in the 7% of markets that saw double-digit gains. WASHINGTON – Nearly seven out of 10 metro markets registered home price gains in the first quarter, according to the National Association of Realtors®’ (NAR) first-quarter report. In 7% of … Read more
While most social media apps work at all price levels, a Chicago agent says Real Messenger, 1060 and Ri.la have properties that appeal to luxury clients. CHICAGO – Chicago-area real estate agent Anne Ewasko recommends that luxury brokers take advantage of three social media apps to foster and manage relationships with new and current customers: … Read more
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