The third quarter may have marked the end of price surges as higher mortgage rates put a damper on projections for property appreciation. Read more from NAR’s latest report. Home prices continued to climb in the third quarter of this year, but the upward trend may finally be coming to an end, according to the …
Category: Real Estate Tips
Nov 18
Sales Mistakes to Fix Before the Market Changes Again
Every real estate pro makes these errors at one point or another. But you have to learn how to prevent them in the future to keep your business viable. Even the venerable Leigh Brown, a prolific real estate speaker and broker-owner of One Community Real Estate in Concord, N.C., has experienced dry spells in her …
Nov 17
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 16
REALTORS® Expect These Tech Disruptors to Grow in Influence
NAR’s 2022 Technology Survey reveals the innovations members are using now and watching for the future. REALTORS® believe cybersecurity, 5G and drones are the areas of technology that will have the most impact on the real estate business in the next two years, according to the National Association of REALTORS®’ 2022 Technology Survey. Nearly half …
Nov 15
After Collapse, Does Cryptocurrency Still Hold Promise for Real Estate?
Despite an extremely volatile crypto market, one real estate pro says a decentralized financial system could help create more immediacy in housing transactions. When she unexpectedly ran out of cash during a trip to Cuba, Kristin Smith knew her options for accessing more funds were limited. Without the ability to use a credit card or …
Nov 11
Fair Housing Primer: Disability
What you need to know to serve this protected class. Definition: Federal fair housing law defines a person with a disability as any individual with a physical or mental impairment that substantially limits one or more major life activities. Some disabilities, such as blindness or mobility impairment, are readily observable, while others are invisible. What’s …
Nov 10
Disclosing Other Offers on Homes for Sale
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 …
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 …
