Borrowers applying for a 30-year fixed-rate mortgage this week locked in the lowest rate of the year, as it dropped to its lowest average since November 2016, Freddie Mac reports. Additionally, “the 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation,” says Freddie Mac chief economist Sean Becketti.Freddie Mac reported the following national averages with mortgage rates for the week ending Aug. 24: 30-yea
A new watchdog program designed to monitor real estate deals involving shell companies has found that the buyers in 30 percent of high-end deals were linked to “suspicious activity,” the Treasury Department reported this week. Federal officials are now expanding the program, which aims to prevent money laundering by overseas buyers who use shell companies to mask their identities.The program, called the Financial Crimes Enforcement Network,
The Council of Residential Specialists kicks off its fifth annual CRS Week on Monday, Sept. 11, offering five free webinars to all real estate professionals as a sampling of CRS education and credit toward a CRS designation or maintenance requirement. The webinars will cover topics such as creative video marketing, refining email newsletters, and choosing better listing photos. This year, participants can register for all five webinars at onc
The value you provide in the years between transactions is how you create loyalty and increase referralsKey Takeaways What is that feel-good work for you? What difference do you desire to make for people? How can you add value even if it has nothing to do with real estate?When people just call you to work with them, that’s a lead you love. When people call you to work with them because they have followed you and respect you for the value you’
At the right price, any and every home will sell, regardless of what it looks like and where it is. With price as the single most important factor in putting a home on the market, it never hurts to tip the scales in your sellers’ favor, increase their bottom line and potentially expedite the home sale timeline with all the levers you’ve got at your disposal as a listing agent.Here are six factors that could be contributing to buyers’ reluct
Establish short- and long-term goals to build your futureKey Takeaways By responding to four simple prompts, you will glean vital information that you can use to create a concise business plan that is effective and strategic.One of the biggest mistakes you can make as a real estate agent is viewing your career as a job when you should be viewing it as a business.By treating your career as a business, you will position yourself to go through the
Fifty-one percent of homes sold in July were on the market for less than a month, according to the National Association of REALTORS®’ existing-home sales report, released Thursday.Properties typically stayed on the market for 30 days in July, down from 36 days a year ago.“Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pr
Half of the 20 hottest housing markets in August were located in California. Vallejo, Calif., held on to its top spot in realtor.com®’s “hot list” this month. Realtor.com® ranks the top 20 medium-to-large metro markets where homes are selling the fastest and where buyers are searching the most on realtor.com®.Detroit also made a comeback on realtor.com®’s list this month, entering the top five for the first time since October 2013. Ne
The prices of newly built homes are rapidly rising, which may have caused the plunge in new-home sales last month, CNBC reports. Sales of newly built single-family homes tumbled 9.4 percent month over month in July to a seasonally adjusted annual rate of 571,000 units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Wednesday. This is the lowest reading for new-home sales since December 2016.The media
Upper-level living rooms are becoming a sought-after space among homeowners, The Wall Street Journal reports. Homeowners are finding these second-floor lounges can be cozier spaces than living areas on the first floor—and can offer more privacy, too.Upper-level living rooms—sometimes labeled “pajama lounges”—are usually located right off bedrooms. They may include comfy sofas, a kitchenette, a television, and even a nook to work from.
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