The U.S. homeownership rate has posted its highest annual rise on record, reaching 65.5% in 2020, 1.3 percentage points over the year before. Hispanic homeownership soared to a record high and is above 50% for the first time on record. However, Black homeownership continues to lag and has fallen to a lower level than it …
Tag: News
Nov 10
Jersey Shore Vacation Home – 840 Ocean Ave #C7, Ocean City, NJ. 08226
840 Ocean Ave #C7, Ocean City, NJ. 08226 Listing courtesy of Colleen Michaelis – BHHS FOX and ROACH-109 34th OC $164,900 Est. Mortgage $1,156/mo*Studio1 Bath Description about this home for sale at 840 Ocean Ave #C7, Ocean City, NJ. 08226 Come see this great first floor unit in a prime walkable location to beach, boardwalk, …
Nov 09
Federal Court Blocks ‘Love Letter’ Ban
A federal judge ruled that an Oregon law preventing buyer “love letters” is a violation of First Amendment rights. The letters have commonly been included in home offers, with buyers writing to sellers expressing their desire for a home. Last year, Oregon became the first state in the country to prevent real estate agents from …
Nov 08
Ways to Show Your Commitment to Fair Housing
The National Association of REALTORS® kicks off Fair Housing Month this week with a packed calendar of events, new resources, and policy initiatives designed to empower its 1.5 million members to help expand homeownership and support diverse, inclusive communities. “We are taking on a bold goal to narrow racial and ethnic homeownership gaps substantially,” says …
Nov 07
Avoid Fair Housing Violations in Advertising
Real estate professionals are legally obligated to uphold fair housing laws, and the language and images you use in your advertising needs to be vetted carefully. REALTORS® also have an obligation to do so under Article 10 of the Code of Ethics. “Advertisements should never indicate a preference or limitation based on a protected class, …
Nov 06
NAR Urges Supreme Court Review on Protection for Use of Floor Plans
The National Association of REALTORS® is leading a large coalition of stakeholders in the real estate industry—property owners, real estate professionals, appraisers, portals, valuation, and public records companies, and others—that is urging the Supreme Court to review and overturn a federal appeals court threatening copyright liability for the use of floor plans in the sale of …
Nov 03
‘Close the Gap’ in Homeownership
Homeownership rates for many minority groups continues to be well below that of whites, and discriminatory policies are often blamed for that. During National Fair Housing Month in April, many housing groups and organizations are bringing the racial housing gap to the forefront and asking others in the real estate industry to support programs that …
Nov 02
Top 5 Legal VideosFair Housing Primer: DisabilityTop 5 Legal Videos
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 01
Collaboration Key to Solving Housing Crisis
Though the current housing crisis was decades in the making, all levels of government and the private sector can work together now to ease the burden on consumers and increase housing availability, affordability, and accessibility. This was the message Tuesday from experts during a webinar hosted by national think tank Third Way(link is external) called …
Oct 31
Is That Legal?
Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let’s see how much you know. Understanding how antitrust law applies to the practice of real estate is foundational knowledge. Let’s see how much you know. 1. Federal and state antitrust laws are designed to: A. Prevent companies from misleading the …
Oct 30
3 Things to Remember About…
Things to know about sale-leasebacks, using recording devices, and conducting criminal background checks. Sale-leasebacks When home sellers need to retain possession of the home for a few days— or longer—after the closing: Use of Recording Devices If your sellers use audio or video recording in the course of a home sale: Use of Criminal Background …
Oct 25
RESPA Reminders
Understand the letter of the law when it comes to teaming with allied businesses. The Real Estate Settlement Procedures Act is a federal law designed to protect consumers in the settlement of real estate transactions. Before you get involved in any business-building partnership with allied professionals, be sure you know what is and isn’t allowed …
