As a listing agent, am I required to disclose that I already have offers on the property to any agent who wants to show my listing or any buyer who wants to see my listing? The ethical course depends on two factors: First, has the agent or prospective buyer asked if there are offers on …
Category: Real Estate Tips
Nov 09
Pending Home Sales Plunge 31% From a Year Ago
Persistent inflation is proving “quite harmful to the housing market,” says NAR Chief Economist Lawrence Yun. The housing market is quickly contracting as rising mortgage rates and stubbornly high inflation prompts more home buyers—and even sellers—to back away. The National Association of REALTORS®’ Pending Home Sales Index, a forward-looking indicator based on home contract signings, …
Nov 09
What Happens When Mortgage Rates Break 7%?
NAR Chief Economist Lawrence Yun paints a picture of what could happen with borrowing costs once it passes a critical threshold. Mortgage rates remained just shy of 7% this week—the 30-year fixed rate loan is at 6.94%—which could be a “new normal” after recent rapid increases in borrowing costs, says Nadia Evangelou, senior economist and …
Nov 08
Top Claim Against Agents: Failure to Disclose
Not revealing known property defects to a buyer—a common problem in real estate, studies show—can land you in court. Follow these best practices to avoid liability. When a home buyer discovers a property defect that wasn’t disclosed by the seller or listing agent, the buyer may sue, claiming the home was misrepresented. This has become …
Nov 07
Mortgage Rates Slip After Fed Hike
Economists eye two possible scenarios: Rates could rise to 8% or higher by the end of the year, or they could stabilize. Know what to expect. Mortgage rates this week dipped slightly below 7%, even after the Federal Reserve aggressively raised its benchmark interest rate again to tame inflation. The 30-year fixed-rate mortgage averaged 6.95% …
Nov 04
Young Buyers Focus on Investment Properties to Build Wealth
Many under the age of 40 are looking at real estate as a means to generate income rather than looking for their own home to live in, a new survey shows. A growing number of young adults are charting a different path toward building wealth through homeownership, prioritizing buying an investment property before a primary …
Nov 03
Warning Signs Your Listing Has a Mold Problem
Though not as obvious as fire or flood damage, mold can spread quickly and cause significant property issues if not caught early. Many homeowners may think the worst thing that can happen to their property is a fire or flash flood. But there’s another kind of threat that’s less obvious yet potentially just as harmful: …
Nov 02
Kitchen Islands: The Life of the Party
New trends in kitchen islands offer versatility in function and design, as well as an aesthetic boost. You may remember when the kitchen’s status symbol was a hulking appliance like a six-burner range or a smaller but still chichi wine refrigerator. These statement pieces enhanced a kitchen and set it apart from others. Nowadays, though, …
Nov 01
Let Lighting Set the Tone
When moving in or remodeling, homeowners are wise to focus on the power of light to illuminate rooms, add decorative panache and color, pare energy consumption and improve safety. Key Takeaways: Make lighting a priority rather than an afterthought in your renovation and redecorating plans. LED innovation has expanded considerably over the years, offering an …
Oct 31
What Homeowners Should Know About Rain Barrels
Sustainability is trending, especially among young buyers, and an aesthetically pleasing rain barrel offers cost savings and curb appeal. Outfitting a house with a rain barrel does more than collect and conserve rainwater: It saves money, too. Well-placed rain barrels help cut utility costs by collecting free water for gardening, lawn watering or even washing the car. …
Oct 28
Staging to Sell with Inspiration from 5-Star Hotels
Hotel and interior design experts offer tips for staging primary bedrooms with touches of luxury Recently, furniture and home decor company, CB2(link is external), named “luxury for all” as one of the top three home trends of 2022. The brand’s popularity with millennials, who currently comprise the largest percentage of home buyers(link is external), means …
Oct 27
Spread the Word
At thedifference.realtor you’ll find language and assets, like social media graphics and email signature banners, that you can use every day. As president, I’ve had the privilege to meet thousands of you either in person or virtually and to experience the good work you do. I can truly say that REALTORS® bring it home for …
