What is a bedroom?

Does a bedroom consist of a room of any size upstairs? On main level? In basement?

Does a bedroom need a door, window, and closet only?

What “DOES qualify as a bedroom?

I think this description from the April 2018 Georgia Real Estate Commission – The Appraisers Page of their monthly newsletter will BLOW REALTORS’ or REAL ESTATE AGENTS’ (yes, they are different…but not what you think) MINDS and property descriptions:

Confused? I bet most real estate agents are as well….

Let me repeat that…

Let’s define a bedroom before we go any further. A bedroom is a room of “adequate size” – which is defined as no less than 100 square feet. It must have a closet, a window, and a door; it must be heat/cooled and finished to the same quality as the rest of the house. It must be ABOVE GRADE to be counted as a bedroom. And the most forgotten or unknown factor in defining a bedroom is that it must have ready access to a FULL bathroom. A full bathroom is one that has a shower or a tub as well as sink and toilet. Think about it: if you have a bonus room finished up over a garage, it may have a closet, window, door, heating/cooling, and is finished to the same quality as the rest of the house. If you have to go down the stairs and across the house to use the bathroom, though, the room cannot function on a long-term basis as a bedroom. Another common scenario is that you might have four “bedrooms” on the second floor of a house. Three of the bedrooms have private baths. How is someone in the fourth bedroom supposed to get to the bathroom? If you answered “by going through one of the other bedrooms”, you are incorrect. You aren’t incorrect. It just doesn’t count as a bedroom. That does not function on a long -term basis as a bedroom. We would instead call it a den or office. Probably the most common scenario is as follows: let’s take a traditional two-story house. On the first floor, you have a living room, dining room, kitchen, one half bathroom, laundry and a “bedroom”. The problem here is that the “bedroom” is only serviced by a half bath. Again, this does not function on a long-term basis as a bedroom. Here is where it is valuable to have an appraiser as a consultant during or prior to the construction process of a new house.

References to articles, sources, products, or services are not a specific endorsement and not guaranteed to be true or accurate, but the user must perform their due diligence and investigate whether the information provided is valid, or the product or service is right for them. I welcome any or all comments that would help others……Be careful – if it sounds too good, it probably is!

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Home Equity Loan Tax Deductions Under 2017 Tax Law

Major question: How will “when the proceeds are used to substantially improve their residence” is defined in IRS guidelines?

One of the most misunderstood provisions in the new tax law expires in 2026 and prohibits the deduction of interest paid on home equity lines of credit and home equity loans except when the funds are used to substantially improve the taxpayer’s home. The IRS recently issued a statement clarifying that the deduction has not been removed, but is instead available under new home improvement restrictions:

“…despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labelled,” according to an IRS release.

Source: IRS Clarifies Home Equity Loan Tax Deductions Under New Law

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Escalation Clause…no..not a Mortgage Clause…A Real Estate Contract Clause

For home buyers locked in a heated bidding war, there is one weapon that may help ensure victory:

an escalation clause.

Simply put, the prospective Buyer places a clause in the offer that if any other Buyer places a bid for the property, this Buyer will pay $XXXX higher than the highest offer.

Source: WSJ February 14, 2018.

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Fee and Documentation of Donation Drop Boxes

The Cobb County Code for Donation Drop Boxes.

Before this code (Official Code of Cobb County 134-287 (1)-(4).) was enacted, I was reviewing a listing of “draft” Building Code changes issued in Cobb County and saw the attached change on last page 32 that instittutes a fee on the box itself…I’m not sure what problem this solves, other than raising county revenue to pay for Braves contract issues, or some sort of control of the proliferation of clothing, newspaper, recyclables, etc., drop boxes sprouting up all over the place (usually on private commercial properties)…Now at least we can “document” donation drop boxes and not other things or other people in this country. 😉


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Millennials are “literally” full of crap!

Yes..they are..but no wonder…the crap that fills their brains is the direct result of too many real estate articles, blogs, and advertisements designed to make them feel bad about not buying a home…

Sometimes I hate the real estate industry, and I’m in it. Every day I see 2-3 articles warning Millennials that it’s…

Too late to buy…!

Home prices are rising so you better buy now…!

Hey, you’re strapped with student loan debt but there’s still a way to buy a house!

Interest rates are expected to rise so get off the fence…!

The Dirty Secret #1: The sole purpose of all these headlines and stories (i.e., hype) is designed to “push people off the fence” to buy a house and enable someone else make money…realtors…attorneys…insurance companies….warranty companies…sellers…Home Depot and Lowes (apppliances, sales of product to home improvement remodelers and contractors, and your home improvement projects) and other housing related contractors (painters, plumbers, electricians, HVAC services) etc,.

The Dirty Secret #2: Housing related spending (whether buying houses, fixing them up, or all the related household services supporting housing) drives anywhere from 15-20% of the US Gross Domestic Product (GDP).

Yes, they/we all want your money…

So my advice to millennials is to “release the crap and wipe away the leftover hype” before you make a mess. And make sure that when “you” are ready to buy a home, you’ve done the basic research of home values compared to what you get…and do the math, if it doesn’t pay YOU to buy a home – Don’t!

Oh, and I use the term “literally”, figuratively in this case….

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“Coming Soon” v. Stick the yard sign in yard

Fair or unfair?

Should the listing agent wait until the listing is ready to be posted for sale to plant a yard sign…or put the sign in advance of listing effective date to offer “more potential buyers” chance at the house?

These are unlisted properties that may or will be formally and contractually listed with a broker in the near future, but not currently and most often, not yet priced. These are “teasers” to gain interest once the property becomes listed.

Source: “Coming Soon” signs – Is it in the Seller’s Best Interest?.

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Home Buyer Summary Steps to Buying a Home

Hey, before you begin this nerve racking fun and worthwhile process – PLEASE be honest with yourself. Don’t swing for the fences and overpay for a house you can’t afford to furnish, maintain, or pay monthly mortgage.

Also, take a shoot from the hip 30% of your total gross income and try to stay near that amount for your total monthly mortgage payment. And don’t forget, your mortgage payment will include the following: principal loan; interest on loan; homeowner’s insurance; property taxes; and possibly some form of mortgage insurance…so don’t get a quote of Principal and Interest (called P&I) from a lender and think that’s all. And be sure to factor monthly expenses such as home maintenance, utilities, and emergency repairs into your budget…DON’T PAY TOO MUCH FOR A HOUSE and get strapped!!!

Step #1: Get familiar with the home buying process. Please review my summary of the Buying Process here. Don’t just think you go out and find a house, then go to a lender to get qualified. You will be way behind the curve. Also, don’t think the mortgage payment will be your only monthly expenditure.

Step #2: Review my summary of the steps of the Mortgage application process. Talk to several mortgage lenders within a 2-4 week period (only counted as one hit to your credit). Just don’t call lenders over several months…Use my questions to Ask Lenders worksheet for a sample of questions to ask each lender to keep track. Also, if you find one who explains things and sounds like you can work with them, great!

Step #3: Get your finances in order and get pre-approved….YES – preapproved, not just pre-qualified. This means to get your financial paperwork into the lender and let them run it through their analysis and underwriting to get approved. This weighs alot during your negotiations – you will be way ahead of the rest who just found the same house but weren’t even talking to lenders…

Step #4: Look online through several real estate websites including realtor.com, zillow.com, trulia.com, redfin.com, etc., to find homes in your price range. Are you finding any that look like possibilities? If so, that’s great….and you shouldn’t have difficulty finding a home to buy. If not, you may need to adjust something like price or desired features. You can always add features and updates once purchased.

Step #5: Talk to several real estate agents and select one. Don’t pick one because he’s cute (like me), or one of the HOT busy agents at the time since they will have little time for you. Ask questions of his/her past experience and how would they approach your buying situation.

Step #6: Once your agent knows the features, price range, and area you are looking to purchase, the agent can setup a portal of listings mailed to you daily and from all you have found interesting, can setup appointments for you to visit with your agent. They can also research features, details, and other information about the properties. Once you have a date and time to visit properties – go visit with your agent. Or, perhaps you want to perform a drive by to see what the house and area actually look like. Sometimes pictures lie and the house and area aren’t exactly what you wanted. You can visit open houses with or without the agent to see styles and layouts. But if you have already selected an agent, be sure they know you are visiting open houses and mention to the listing agent you are working with an agent and mention their name. It’s possible the open house agent will try to prevent you to use a Buyer’s Agent in some ways.

Step #7: Once the right house comes across your interest, you and your agent can sit down to draft a contract offer and start the buying process. Be sure you understand your responsibilities and your ability to exit the contract and not get stuck with the house. Normally there will be a period of time to perform inspections, negotiate any repairs, and if necessary, terminate the contract and still get your earnest money back. Also, don’t forget to negotiate the appraisal and financing contingencies of your offer.


  • There’s always another house if the deal goes south. It may not have “been the one”.
  • See at least 10-15 houses before making any decisions. The number isn’t as important as getting to see the inside of houses and helps you to evaluate the pros and cons of the features and layouts as a basis of comparison for your decision to purchase.
  • Evaluate each home after seeing it that day and try to pick the pros and cons of each. That way you’ll know what features to expect in your price range and once you see a home that pops, then it might “be the one”.
  • Try to minimize the number of homes to more than 10 and less than 50. Be honest after the first round of showings of what features you are of primary importance and which you are willing to reject. This will keep things fresh and not let the process drag on and both (1) discourage you and (2) lose out on better homes when you spend time on losers.

References to articles, sources, products, or services are not a specific endorsement and not guaranteed to be true or accurate, but the user must perform their due diligence and investigate whether the information provided is valid, or the product or service is right for them. I welcome any or all comments that would help others. Be careful – if it sounds too good, it probably is!

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Using Georgia Native Plants

I met the author – she is very dedicated to this effort – please consider using native Georgia plants in your yard…

Here’s an excerpt from her latest post…

“I’ve been writing this blog every week for over 7 years now – the first entry was October 14, 2010. The history is all there and, since plants don’t change much, some of the older January blogs are worth reading again – especially if you weren’t following back then. The pictures may not be as good, but the words are spot on. If you find any broken links, let me know in the comments and I’ll fix them (or remove them if they don’t exist).”

Source: Using Georgia Native Plants.

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Daily Real Estate News from Access Brokerage

References to articles, sources, products, or services are not a specific endorsement and not guaranteed to be true or accurate, but the user must perform their due diligence and investigate whether the information provided is valid, or the product or service is right for them. I welcome any or all comments that would help others……Be careful – if it sounds too good, it probably is!


Post #1: What Not To Do When You Are Moving.

Post #2: Should a bank be allowed to use its own staff to value properties if it believes that there aren’t enough appraisers in its market to meet demand or that outside appraisals have become too costly?


Post #1: IRS 20% business deduction brings good news to real estate agents.

Post #2: FHA loans plummet in metro Phoenix, but that may be a good thing for Millennials.


6 Things to Know About Buying a Home Under New Tax Rules:

1. It may no longer make sense to deduct mortgage interest
2. You may not be able to deduct all your mortgage interest if you’re buying a more expensive home
3. Home equity loans aren’t deductible anymore
4. Forget about deducting mortgage interest on a second home
5. Your state and local taxes may no longer be fully deductible either
6. Capital-gains rules for home sales stayed the same


Post #1: Mortgage Fraud Risks Rise, Especially Income Fraud.
The risk of mortgage fraud jumped by 12.4 percent on an annual basis in the second quarter, the seventh consecutive quarter in which it has increased.

Post #2: HOA Board And Manager Authority .


Post #1: The Questions You Should Be Asking Your Real Estate Agent But Aren’t.

Post #2: Why the Best Real Estate Deals are not in the MLS .


Post #1: NY IG: Syracuse woman collected workers’ comp while working as real estate broker.

Post #2: Do I really need a mortgage broker? Hint: Mortgage brokers work for you, not the lender.


Post #1: Fannie and Freddie End Funding of Single-Family Rentals.

Post #2: How to speed up the home buying process.

Post #3: Is Amazon responsible for Seattle’s housing cooldown? Real estate experts weigh in.


Post #1: Are Home Prices Finally Pumping the Brakes?

Post #2: iBuyer Apps are Changing the Market.

Post #3: Home Makers: Renovation, real estate and media-savvy couple are on the rise .


Post #1: Rockwood police help residents fight back against increased IRS phone, email scams .

Post #2: NAR Sees Overheated Housing Market Starting to Cool.

Post #3: This Week in Atlanta Real Estate: Atlanta tops for affordable homes, new luxury townhome options and more.


Post #1: Three Creative Ways Real Estate Agents Can Market To Millennials .


Post #1: The tight labor market, soaring real-estate prices and new technology make moving for a better job less desirable.

Post #2: The housing recovery isn’t over, it just feels like it is.

Post #3: What Everyone Should Know Before Investing In Real Estate .


Post #1: Reverse Mortgages Draining FHA Resources, Overhaul Needed. Home Equity Conversion Mortgage (HECM) program the program is an economic drain…the most recent showed the program with an economic value of negative $14.5 billion

Post #2: What You Really Need To Know Before You Pick A Real Estate Agent.

  • Real estate is local ― hyper-local, actually. Your agent should be, too.
  • Your friend or relative may not be the best agent for the job.
  • The best listing agent is not the one who tells you what you want to hear.
  • Go with the agent who actually closes deals.


Post #1: Real Estate Advice: Do your homework when searching for a home.

Post #2: 22 Secrets Your Real Estate Agent Isn’t Telling You.


Post #1: Millennials prefer cash over real estate as investment strategy. Hampered by student loan debt and escalating home prices, millennials prefer stowing away money in savings accounts and certificates of deposit over real estate or stock investments, according to a new survey published Wednesday.

Post #2: Moving? Avoid Making These Mistakes :

1. Hiring a shady mover.
2. Messing up the quotes.
3. Packing too much stuff.
4. Failing to schedule your move well in advance.
5. Ignoring the need to pack ahead of time.

Post #3: Is Blockchain In The Future Of Real Estate? .


Post #1: What To Expect When Getting A New Roof.

Post #2: What Do New Home Buyers Want? The Surprising Results.

Post #3: Maintaining Your Hot Water Heater.


Post #1: Why long-term renters are buying homes in cities they’ll never live in.

Post #2: The Importance of Fences in Adverse Possession.

Post #3: SEC going after brokers for peddling shares in $1.2 billion real estate Ponzi scheme.


Post #1: U.S. home prices up at greatest rate in 12 years.

Post #2: Developers could make bank from rollback of Dodd-Frank. The bill, which Trump signed Thursday, reduces some regulatory burdens for community and regional banks. These banks have long argued that Dodd-Frank has been too costly and unfairly burdensome, maintaining that it was Wall Street and major banks that were responsible for the toxic lending that led to the financial crisis, not smaller lenders.

Post #3: Banks are working to woo new doctors into home mortgages .


Post #1: Wire Fraud Creeps Through Real Estate Industry.

Post #2: How to Prepare a Property for Sale.

Clean, clean, then clean some more
Don’t Forget Outside
To Stage or not to Stage?
What to do on the Day


Post #1: Real Estate Agents Answer: What’s The Biggest Mistake That Buyers Make?.

Relying too much on the advice of family and friends:
Waiting for the ‘perfect’ home to arrive:
Biting off more than they can chew, financially:
Going on a ‘shopping spree’ after applying for a mortgage:

Post #2: Mortgage Broker Q&A.


Post #1: 7 real estate scripts that stand the test of time.

Post #2: Beware of “Fake” Real Estate News.

Post #3: There are Different Kinds of Community Associations . Homeowner Associations: the main difference between a condo and a homeowner association (HOA) is that the HOA owner owns his/her house — including the front and back lawn — but there are covenants (rules recorded in the land records) which must be followed by each owner.

Cooperative Housing
Homeowner Associations


Post #1: Affordability at 10-Year Low, .

Post #2: Redfin CEO warns of slowing national real estate market, as frustrated buyers are sitting out.

Post #3: The Realtors’ Last Hurrah.


11 things real estate agents could get in legal trouble for:

1. Breach of contract
2. Breach of duty
3. Failure to disclose flaws
4. Misleading clients
5. Fair housing issues
6. Data security
7. Giving legal advice
8. Failing to advise inspections
9. Negligence
10. Antitrust misconduct
11. Working outside your comfort zone


Post #1: Millennials Turn To Crowdfunding For Mortgage Down Payments.

Post #2: All Things Real Estate: Interview Realtors to find one you’re comfortable with their advice.

Post #3: 5 Things Every Buyer Absolutely Needs To Know About the Market.


Post #1: The number of consumers going without real estate agents is rising: Study.

Post #2: Why foreign buyers are pulling back from US housing market at record rate. “The [discussion of a] trade war or just the rhetoric against foreigners may have dampened some of the enthusiasm to buy property in the U.S.,” NAR chief economist Lawrence Yun told the Journal. Higher home prices and a strong dollar are other key factors NAR economists pointed to as drivers behind the plummeting interest from overseas.

Post #3: Housing market has hit a ‘significant slowdown’ in recent weeks, Redfin CEO says.


Post #1: Real Estate Agents Answer: What’s The One Thing You Wish All First-Time Homebuyers Knew?.

Post #2: How Irresponsible Mortgage Lenders Created A Second Housing Bubble.

Post #3: Don’t Be Afraid Of The Seller’s Disclosure .


Post #1: The Best Time to Sell Your House, Based on Real Estate Market Data . If you need to put your home on the market now, you’re in luck. Nationwide housing market data shows August as the best time to list a house in order to get the highest sale price. August was the best time to list overall from 2014 – 2017. Real estate transactions often take a few months to close, which means that homes listed in August will most likely close in November. Homes that closed in November over 2014 – 2017 sold for 4.04% higher than the national average.

Post #2: 5 Reasons to Hire a Real Estate Professional Before Entering the Market!

Post #3: Agents: Real estate TV shows skewing home buying expectation .


Post #1: Millennials prefer cash over real estate as investment strategy . Among respondents of all ages, 32% viewed the stock market as the best investment, while only 24% chose cash instruments such as a savings account as the most lucrative option. Real estate clocked in at third, with just 22% of respondents describing it as an ideal investment.

Post #2: Homeownership Keeps Climbing. More and more renters say they aren’t interested in buying a home because of financial reasons, according to a semiannual survey released by mortgage company Freddie Mac earlier this year.

Post #3: Housing market is showing signs of cracking: ‘Anything-goes list-price strategy is no longer working’.


Post #1: CFPB Enforcement Is Back—With a Softer Touch.

Post #2: Are Real Estate Agents Still Relevant In The Age Of Tech?.

Post #3: 6 Tips on Choosing The Right Real Estate Agency For You .
1. They Have Proven Themselves Over the Years
2. They Provide Great Customer Service
3. They Demonstrate Their Expertise
4. They Give Back to the Community
5. They Uphold the National Association of Realtors® Code of Ethics
6. They Do It Right


Post #1: Why Buying A Home Is Not A Good Investment (It’s A Service).

Post #2: 7 Tips To Make Moving Stress-free When Buying a Home:

Preparation / Start Early
Yard Sale
Change of Address
Moving / Packing Supplies
Ask for Help
Sort and Organize your Belongings
Clean the Empty House Before Moving In

Post #3: Realtors no longer simply show houses.


Why Buying A Home Is Not A Good Investment (It’s A Service)


Are teams good news or bad for real estate brokerages?.


Post #1: Home sellers want to spy on buyers, real estate agents.

Post #2: Dear Monty: A sad real estate story. This also happened to me that a major realtor in the local market failed to submit bids to the seller…unfortunately, she was a “Realtor” without Ethical morals.

Post #3: Drilling down, Cushman & Wakefield found that MARTA drives about $1.4 billion in economic activity each year and supports almost 25,000 jobs (but is it all good news and how much economic benefit did other alternatives support w/o MARTA)?


Post #1: U.K. Proposes Prison For Real-Estate Money Launderers.

Post #2: Why Are Emotional-Support Pets Allowed in My Pet-Free Building?

Post #3: Is Real Estate Crowdfunding Right For You?


Post #1 : Home-sellers continue legal battle against Zillow, appeal judge’s decision to toss Zestimate lawsuit.

Post #2: Zillow hit with patent infringement lawsuit over ‘real estate information search’ apps.

Post #3: Real estate business botches: The truth about fixer-uppers.



Post #2: Real Estate and the Blockchain: A Transactional Perspective.

Post #3: 9 things not to say in your real estate listing.


Post #1: You’ve got your real estate license — 4 tips on what’s next.

Post #2: How to Find a Real Estate Agent .

Post #3: Why First Time Buyers Flock To The FHA Loan Program .


Post #1: Ex-township leader to pay restitution for real estate fraud.

Post #2: What A Real Estate Agent Really Does — And How To Find The Right One For You.

Post #3: New homeowners makes surprise discovery of tenant already living there.


Post #1: Millennials Still Aren’t Home Alone.

Post #2: Six Reasons You Shouldn’t Become A Real Estate Investor.

  • 1. You can’t find the right property.
  • 2. You don’t have the cash.
  • 3. You don’t have a go-to list of contractors.
  • 4. Rehabbing for profit and for personal taste are two different things.
  • 5. Becoming a landlord is a full-time job that few want.
  • 6. There are expenses you never thought of that will drain you dry if you don’t budget for them.

Post #3: How would a more conservative Supreme Court impact real estate?.


Post #1: How weather affects real estate, and why spring is not the best time to sell your house.

Post #2: How do interest rate increases really impact real estate decisions?. “When you look at the numbers and the incentives, you’ve created a system where many homes are more valuable to an investor than to an owner-occupied homeowner. If you see a continuation of the same tax policy and continued wage stagnation, I see a trend toward more renters and less ownership.”

Post #3: Meet the Inman Innovator Finalists: Most Innovative Real Estate Technology part 2.

Post #4: 17 essential real estate terms you should know.


RE agents caught in the crossfire as wealthy homeowners battle new flight paths.

Fannie Mae, Freddie Mac privatization would affect many real estate portfolios. The largest 1,000 U.S. retirement plans had a combined $315.8 billion in real estate assets as of Sept. 30, Pensions & Investments’ latest annual survey found.

Real Estate Agents Answer: What Makes A Winning Offer?

  • Offer your highest and best
  • Find out what the seller wants
  • Write an offer letter
  • Act quickly:
  • Limit contingencies
  • Make your offer ‘as-is’


    Post #1: The Mortgage Professor: Some questions about mortgage interest rates .

    Post #2: How to determine the market value of a home.

    Post #3: Smug Seattle to mom and pop landlords: Criminals are welcome! Your rights not so much.

    Post #4: Is mandatory minimum wage coming to real estate? .


    Post #1: What to Do When Your House ‘Fails’ Inspection .

    Post #2: How Much Home Can You Really Afford?
    That’s why it’s so important to consider all of your monthly expenses related to buying a home

    • Increased commuter costs
    • Higher utility bills
    • Homeowner’s association
    • Home improvements
    • Landscaping
    • Warranty

    Post #3: 6 Tax Breaks for Homeowners.

    • Mortgage Interest
    • Home Equity Line of Credit Interest
    • State and Local Property Taxes
    • Rental Income
    • Home Office Expenses (Including Home Office Deduction: It’s often considered a red flag for an audit…experts say if you deserve it and have the records to show it, take it..nut first consult a tax specialist to discuss future recuperation of write off.)
    • Capital Gains From a Home Sale


    Post #1: Emerging Trends Threaten Housing .

    Post #2: The Inside Workings of Credit Scores .

    Post #3: Real Estate: A guide for the first-time home buyer. Steps such as get pre-qualified or pre-approved; Features in a home that you like or want; Making a purchase offer; property inspection; property appraisal; attorney will review all documents; closing and possession.

    Post #4: 19 Essential Tools Every DIYer Should Have .


    Post #1: All Things Real Estate: Contract, Inspection and Pending Status.

    Post #2: The CFPB Drops Its Investigation Into Zillow With No Actions.Zillow is expanding its business idea from the buying and selling of homes. In April, Zillow said it is partnering with three brokerages: West USA Realty in Phoenix, Berkshire Hathaway HomeServices in Phoenix and Las Vegas, and Coldwell Banker Premier Real Estate in Las Vegas

    Post #3: California can’t sidestep federal tax impact.

    Post #4: How to Make an Effective Lead Generation Budget for Real Estate Agents.


    Post #1: Ask Angie’s List: Do I need a real estate agent?.

    Post #2: Atlanta ranked No. 7 highest-growth real estate market.

    Post #3: Florida Makes Effort to Protect Home Buyers .

    Post #4: U.S. New Home Sales Rose 6.7% in May.


    Post #1: The Guide for First-Time Homebuyers.

    Post #2: Housing in America: where’s the progress?

    Post #3: Flat-fee real estate company Home Bay expands to Arizona and Virginia.

    Post #4: The ‘Fixer Upper’ fallacy: 9 reasons real estate professionals want you to stop watching HGTV.


    Post #1: Connecticut town experiments with banning real estate signs.

    Post #2: Home inspectors often don’t do a thorough job.

    Post #3: Should you sell your home without an agent? What to know before going it alone.


    These three pots relate to Dual Agency – should it also be prohibited in the United States?

    Post #1: End to ‘dual agency’ among changes to B.C. real estate industry coming into force Friday.

    Post #2: Rural B.C. Realtors troubled by new real estate rules. The new rules are intended to protect consumers in B.C.’s real estate market, and prevent real estate agents from representing a buyer and a seller at the same time — otherwise known as “dual agency.”

    Post #3: BC realtors can no longer represent both the selling and buying parties.


    Post #1: 3 Keys to Understanding the Millennial Mindset on Real Estate .

    Post #2: Real-estate mogul: 3 rules for flipping a home with friends or family:
    1. Draw up a contract
    2. Set a strict schedule and budget
    3. Communicate throughout the project

    Post #3: Top 10 Threats to Real Estate in 2019.


    Post #1: Realtors Warn About Nationwide Real Estate Scam

    Post #2: These are the 5 issues impacting real estate right now:
    1. Rising rates and the economy
    2. Politics and political uncertainty
    3. Housing affordability
    4. Generational change and demographics
    5. E-commerce and logistics

    Post #3: Down payments squeezing potential homebuyers: real estate expert.


    Post #1: The number of days homes spend on the market hits post-recession low. The median list-to-sale time, which is the period of time between when a listing is officially posted and when the home is officially sold, was just 64 days, down from 77 a year ago, according to real-estate website Trulia. This figure has consistently dropped every year since 2010.

    Post #2: Real estate life lesson: Read documentation carefully to understand terms of your mortgage.

    Post #3: The Guide for First-Time Homebuyers.


    Post #1: 5 Common Home Selling Mistakes To Avoid.

    Post #2: How to Pick the Right Real Estate Broker.

    Post #3: Wall street journal 3-30-18 — Home reseller seeks funds—Open Door Labs incorporated buys and resells houses. Smaller companies competitors include OfferPad, LLC and Knockaway incorporated – opendoor’s fee is expected to go from 7% to 8%. (normally the listing agent they charge up to 6% total fee. So why would homesellers sell a home without an agent? So they can tell seller – you paid more by selling for less? Or maybe it’s ok since they reduce their price by their estimated renovation costs without sellers needing to fix anything? )


    Post #1: Minnesota Senate candidate writes laws impacting her real estate business. Is it protection for her business, or does she know more about how the real estate market can be improved?

    Post #2: Ask a real estate pro: Can condo board bar me from using attic? .

    Post #3: Ask the HOA Expert: Amendments To Governing Documents .


    Post #1: New tax laws could prompt mass exodus from high-tax states, real estate experts say.

    Post #2: Why the Best Real Estate Deals are not in the MLS.

    Post #3:
    Insurance company cancels policies for Atlas Chalet roofs


    Post #1: Why Aren’t We All Buying Houses on the Internet?.

    Post #2: Real Estate Advice: What’s an appraisal-free loan.The practice started last year when the two large quasi-government entities, Fannie Mae and Freddie Mac, who between them underwrite and purchase most home mortgages, began accepting home purchase loans without formal property appraisals. Instead of the formal written appraisal to determine value, Fannie and Freddie determine valuations in-house using proprietary information.

    Post #3: Why Do So Many HOAs Fail To Properly Plan For Predictable Expenses ?


    Post #1: Home values are skyrocketing at the fastest pace since 2006. Overall, 21 of the 35 largest housing markets have now surpassed the peak median home value set before the recession.

    Post #2: 8 Tips For Selling A Distressed Property in Cobb County.

    Post #3: First-Time Home Buyers Now 1/3 Of The Housing Market.


    News….More than half of US housing markets were overvalued in April.

    Post #1: Here’s how a 5% mortgage rate would roil the US housing market.

    Post #2: Earmarking Reserves In Your HOA?:

    • How Much Do You Need?
    • Communicate with Owners
    • Don’t Commingle Funds
    • Borrow Reserves Funds Carefully
    • Develop a Reserve Investment Plan
    • The investment policy should include
    • Other issues to consider include

    Post#3: Building on slab vs. crawl space vs. basement? Advantages / disadvantage


    Post #1: Hold your tongue! 5 things real estate agents should never say to clients.

    Post #2: Real Estate Advice You May Want to Ignore.

    Post #3: Prospective buyers persist in a tough real estate market .


    Six Real Estate Social Media Marketing Tips Every REALTOR® Should Know:

    • Discover the Many Faces of Facebook
    • Master the Minimalist Approach on Twitter
    • Get Visual on Pinterest, Instagram and YouTube
    • Connect with Professionals on LinkedIn
    • Keep Up with the New Kids on the Block
    • Check Your Social Media Metrics


    Post #1: What the Dodd-Frank rollback means for real estate.

    Post #2: How to fire your real estate agent.

    Post #3: Can tech outsmart the housing shortage?.


    Post Why Are Real Estate Agents Getting Sued or Having TREC Complaints Filed Against Them?
    The trend in agent-related lawsuits and complaints has increased dramatically since the 1990’s and will probably continue for the foreseeable future.

    • more and more complex real estate transactions
    • lack of adequate agent training
    • Society as a whole is growing more litigious
    • Studies have shown we are becoming a less trusting society and some question “everything and everyone.”


    Post #1: 8 Real Estate Documents to Keep—and What Happens If You Don’t:

    1. Buyer’s agent agreement
    2. Purchase agreement
    3. Addenda, amendments, or riders
    4. Seller disclosures
    5. Home inspection report
    6. Closing disclosure
    7. Title insurance policy
    8. Property deed

    Post #2: 5 Things to Consider Before Sub-Dividing .

    • What’s the Demand?
    • Location Matters
    • Know Your Land Size
    • Know the Costs
    • You Don’t Have to Build

    Post #3: Can real estate brokers cash in on this tax deduction? No one knows. The Internal Revenue Service is expected to issue additional guidelines for the tax law in June. If it’s ultimately determined that real estate brokers provide a “specified service,” the deduction won’t be available to any broker who makes $207,500 or more ($415,000 for joint filers). Greenwald said brokers should probably wait to see what the IRS releases before shifting advertising strategies.


    Post #1: Want to be a home flipper? Do the math first. . Offer price formula:Purchase price = ARV or after-repair value minus 25% (closing costs, finance costs, holding costs and your profit) minus renovation expense (The average kitchen remodel in the United States pushes close to $50,000)

    Post #2: You Finally Paid Off Your Mortgage. What Now? Getting the actual deed to your home may take a few more weeks at least – the county needs to record that you’ve been released from your obligations to your lender. And when you do get the deed:

    • Put your deed somewhere safe. Like, in an actual safe, preferably one that is fire and waterproof. Or even better, place the deed to your home in a safety deposit box.
    • You still have to pay property taxes. And homeowners insurance. That’s easy to forget about, at least at first. If you’re like most people, your taxes and insurance were part of the monthly mortgage payment. They were held in escrow by the loan servicer, which would make the payments for you.
    • Spend that monthly mortgage payment wisely.

    Post #3: Cash Out and Credit. The Next Claim Is Your Last Claim. Either government offers to pay property owners in at-risk areas an amount, over a period of years, equal to the present value of the capitalized difference between an actuarially-determined market insurance rate, and the current subsidized rate or continue to receive flood insurance at a subsidized rate?


    Post #1: Ask a real estate pro: Do I really need an owner’s title insurance policy.

    Post #2: Zillow’s Zestimate overvalued a Washington home by 700 percent in a case of algorithms gone wrong.

    Post #3: Saying that a 65% return on investment is a “philanthropic venture” is really stretching things. No matter who it is designed to help with down payment assistance, this rate of return is worse than “payday” loans.


    Post #1: Dodd-Frank Misdirection Hides a Pressure Point.

    Post #2: Why Do You Need a Real Estate Agent?.

    Post #3: Real Estate Advice: What’s an appraisal-free loan.


    Post #1: Does It Makes Sense To Buy A New House Before Selling The Old One? That all depends….

    Post #2: Attractive brokers sell more residential real estate.

    Post #3: 4 Common Misconceptions Stopping Millennials from Owning a Home .

    • The Truth About Down Payment
    • The Truth About Down Payment Assistance
    • The Truth About Weak or Bad Credit
    • The Truth About Help With Student Debt


    Post #1: PayPal Alum: How Blockchain Will Change Investing and Why Real Estate Will Be First.

    Post #2: National Association of Realtors® (NAR) has revised down, albeit only slightly, its forecast for home sales this year.

    Post #3: National Association of Realtors® to Launch .realestate Top-Level Domain.


    Post #1: Millennial homeownership suddenly drops after a good run.

    Post #2: Minneapolis property owners challenge their real estate taxes.

    Post #3: Realtors say Zillow, other websites are inaccurate and confusing but lead buyers those in the know .


    Post #1: Here are the top 9 legal issues real estate brokers face.

      1. Antitrust laws
      2. Misrepresentation
      3. Unauthorized practice of law
      4. Environmental issues
      5. Fair housing violations
      6. Employment or independent contractor status of salespeople
      7. Real Estate Settlement Procedures Act (RESPA) violations
      8. False (misleading) advertising lawsuits
      9. Americans with Disabilities Act violation

    Post #2: For most of 2017, the 10 year treasury note floated between 2,2% and 2.4% – not a wide swing…growing economy means lower unemployment, higher wages, widespread inflation….risk toward government bond values U.S. unemployment rate is 4.1%…actually, short term bond rates have risen much faster than long term bond yields.

    Post #3: Atlanta real estate: Overview for buyers, sellers. Home sellers in Atlanta should be prepared to capitalize on the uptick in home sales by readying their homes and protecting themselves. Buyers should know the typical disclosures that sellers are required to make about their home so they can ask informed questions when touring metro Atlanta homes. It’s also important to be aware of home inspections and title searches and who is responsible for paying for them.


    Post #1: FHA insured an estimated 9,507 loans worth $1.9 billion, which were not eligible for insurance because they were made to borrowers with delinquent Federal debt or who were subject to Federal administrative offset for delinquent child support. WSJ bash 3-23-18, M3 – Only 8% of all home sellers in 2017 were for sale by owner… Last year, homes listed with the real estate agent and a median sales price of $250,000, compared with $190,000 for all are listed homes. A broker a typically ensures that the buyers financially qualified by reviewing the pre approval letter or contacting the lender. A pre qualification letter indicates the buyer would qualify for the mortgage based on verbal representations made to lender. A pre approval letter indicates the lender has verified the prospective buyers credit, income, and assets and approval is subject only to a property appraisal. Cash buyers should provide the seller with the bank or investment statement to prove they have sufficient assets. If no documents are provided, the seller should ask for at least 20% up front in earnest money. Appraisers have valued a home’s at an average of 0.53% lower than what owners originally estimate.

    Post #2: As country gets richer, homeowners see the most gain.S household net worth in this country rose to a new record, hitting $98.74 trillion.

    Post #3: Prepaying your property tax? IRS cautions it might not pay off. In an advisory notice posted to its website on Wednesday, the I.R.S. said that maneuver could work, but only under limited circumstances. To qualify for the deduction, property taxes not only need to be paid in 2017, they must also be assessed in 2017 — meaning that homeowners who prepaid their taxes based on estimated assessments, or who tried to pay several years’ worth of taxes at once, will probably be out of luck.


    Post #1: How much do real estate agents make from my home purchase? And who pays?

    Post #2: Less than 3 percent of Americans can pass this 6-question money quiz.

    Post #3: High housing prices signal a danger of reckoning to come. Total outstanding US mortgage loans are now back at nearly $15tn, the same as at the 2008 peak.


    Post #1: 5 tips for making an offer in a hot real estate market .

    Post #2: 3 Things to Watch in the Housing Market This Spring .

    Post #3: Allen Buchanan: Will technology replace commercial real estate brokers? .


    Post #1: 2017 vs. 2018: What’s Different About Buying Real Estate This Year? .

    Post #2: 5 Ways Tax Reform Has Impacted the 2018 Housing Market.

    Post #3: In mortgage market, refinancings take a hit.


    Post #1: Legal Aid of Cobb holds free Eviction Clinics.

    Post #2: 3 types of real estate agents you should avoid.

      1. The ‘smoke-and-mirrors artist’
      2. The ‘I know best’ agent
      3. The ‘ever-elusive home executive’

    Post #3: Ask a real estate pro: Can I get my neighbor to pay for her tree’s damage to my house? Generally speaking, when a neighbor’s living tree falls on your house, you need to make your own repairs. But if the tree is dead, then your neighbor is on the hook.


    Post #1: HUD Lender Civil Money Penalties, Withdrawals of FHA Approval, Suspensions, Probations, and Reprimands.

    Post #2: 4 Reasons Why Today’s Housing market is NOT 2006 All Over Again.

      Home prices
      Mortgage Standards
      Mortgage debt
      Housing affordability

    Post #3: Real estate closing recording fees. Also includes each State’s transfer taxes they charge parties of a real estate transaction.


    Post #1: Radical idea to fix our broken housing system. Almost 50% of all renters spend more than 30% of their income on rent, which is the ratio the federal government deems affordable. About 25% of renters shell out half their income to hold onto a place to live.

    Post #2: Real Estate Roundup: Silicon Valley Is a Hot Spot for Generation Z Homebuyers.

    Post #3: Flat-fee real estate agency Purplebricks secures $177 million investment to fund U.S. growth. By paying a flat fee for a technologically enhanced real estate experience, sellers can save thousands on their home sale, the company claims.\


    Post #1: FHA insured an estimated 9,507 loans worth $1.9 billion, which were not eligible for insurance because they were made to borrowers with delinquent Federal debt or who were subject to Federal administrative offset for delinquent child support. .

    Post #2: What’s New in Residential Real Estate Brokerage Competition – An FTC-DOJ Workshop.

    Post #3: America’s new great migration in search of lower property taxes.


    Post #1: Understanding a real estate contract or purchase agreement.

    Post #2: Real estate deal seem to good to be true? Here are a couple warning signs. .

    Post #3: The OCC, Board, and FDIC (collectively, the agencies) are adopting a final rule to amend the agencies’ regulations requiring appraisals of real estate for certain transactions. The final rule increases the threshold level at or below which appraisals are not required for commercial real estate transactions from $250,000 to $500,000. The final rule defines commercial real estate transaction as a real estate-related financial transaction that is not secured by a single 1-to-4 family residential property. .


    Post #1: Tax reform brings big changes to homeowners and real estate investors.

    Post #2: What Will the New Tax Laws Mean for Real Estate?

    Post #3: What should real estate expect from DOJ workshop? Zillow discusses.


    Post #1: Questions to ask the real estate agent before home buying or selling process.

    Post #2: Rising Home Prices Push Borrowers Deeper Into Debt. Roughly one in five conventional mortgage loans made this winter went to borrowers spending more than 45% of their monthly incomes on their mortgage payment and other debts.

    Post #3: 5 Home Security System Options for Homeowners and Renters .


    Post #1: Are Buyers Stretched Too Thin? .

    Post #2: Local Realtor has licenses revoked by Alabama Real Estate Commission….as well as getting sued for other transactions.

    Post #3: 7 tips for picking a great real estate agent :

    1. Talk with agents’ recent clients
    2. Check for license and disciplinary actions
    3. Ask about professional awards
    4. Select an agent with the right credentials
    5. Find out how experienced an agent is
    6. Look at the agent’s current listings
    7. Gauge the agent’s knowledge of the area


    Post #1: Nine Things To Keep In Mind About Blockchain In Real Estate.

    1. Technology Will Enhance Security And Transparency
    2. Blockchain Will Disrupt The Real Estate Title Industry
    3. Relevant Information Is Available On Specific Sites
    4. Education And State Approval Will Help Adoption
    5. Blockchain Will Form A Secondary Market
    6. Blockchain Should Be Integrated Into Entire Value Chain
    7. Adoption Starts With Learning, Adaptability And Application
    8. Blockchain Will Reshape How Data Is Exchanged
    9. Blockchain Is Not Cryptocurrency


    Post #3: 9 Facts About the Real Estate Market You Need to Know.

      1. Owning a Home Can Save You Money at Tax Time
      2. Buyers and Sellers Are Happier When Working with Realtors
      3. Decluttering and Staging Your Home Works
      4. It’s a Sellers Market
      5. When You List Your Home Matters
      6. Selling on Your Own Isn’t as Easy as You Think
      7. Price the House Right
      8. The Process Will Probably Take Longer than You Think
      9. Open Houses Might Not Be That Effective


    Post #1: ‘Enough is enough’: Some Seattle-area homeowners say latest property-tax hikes will force them to move .

    Post #2: Hot housing market: home buyers are spending more than expected.

    Post #3: Why Uber’s Latest Hiccup Impacts the Real Estate Market.


    Post #1: Why go through a real estate agency?

    Post #2: How to get out of a real estate contract.

      Kick out clause: when you want out of your purchase
      The HOA get out
      Contingencies and purchase negotiations
      What it can cost to back out of an offer to buy a home
      Sellers are people
      Play nicely

    Post #3: New trend in retirement housing. Several people living in same house.


    Post #1: Real Estate recording fees increase 33%. The increase was mandated by two recently passed state laws requiring county auditors to collect a surcharge funding state wide homelessness and affordable housing programs.

    Post #2: U.S. Construction Costs Are Rising.

    Post #3: Top Reasons To Invest In Atlanta Rental Properties in 2018.


    Post #1: Do I need a real estate agent to buy a home? 3 main reasons to hire an agent:

    • To save time
    • To get information and help with negotiations
    • The services of agents are usually free to buyers

    Post #2: Home-buying tips: How to land the right house in a tough market for buyers .

    Post #3: How would Florida’s proposed daylight savings bill impact real estate?

    • More time to show properties
    • Psychological impact on consumers
    • Marketing tactics


    Do I need a real estate agent to buy a home? 3 main reasons to hire an agent:

    • To save time
    • To get information and help with negotiations
    • The services of agents are usually free to buyers


    Facebook sued by housing advocates alleging discrimination. The housing groups say the Menlo Park, California-based Facebook abused its power as it became what amounts to the biggest advertising agency in the world. The lawsuit said that the National Fair Housing Alliance did its own study after the investigative news nonprofit ProPublica published an article in October 2016 that said Facebook’s online platform enabled advertisers to exclude from advertisements in the housing category those customers assigned black, Hispanic and other “ethnic affinities.”


    Post #1: Tax Reform Is a Windfall for REIT Investors.

    Post #2: The Canadian Government Used “Fake News” To Drive Real Estate Borrowing… Seriously . why is the Government of Canada paying hundreds of thousands to discreetly distribute ghost-written articles on how to take out more debt?

    Post #3:
    Buyer Love Letters Often Work; But They Can Backfire Too


    Post #1: No relief in sight: Housing affordability is weakening at the fastest pace in a quarter century .

    Post #2: Millennials rely more on real estate agents when home buying; Gen Xers more independent .

    Post #3: Real Estate recording fees increase 33%. A surcharge funding state wide homelessness and affordable housing programs. The office says 80% of the recording fee goes for local and state housing.


    Post #1: Zillow Group will start buying and selling homes, taking on Opendoor and expanding real estate footprint .

    Post #2: Real Estate Advice: How to find a good home inspector.

    Post #3: Millennials rely more on real estate agents when home buying; Gen Xers more independent .


    Post #1: House hunting? Here’s how to win a bidding war. Cash-Withdraw Finance Contingency-Write a Personal Letter – or Just walk away.

    Post #2: Facebook Data Scandal Raises New Concerns for Real Estate Agents .

    Post #3: Windermere Utah Real Estate Offers Five Tips for Home Buyers.


    Post #1: How Real Estate Agents Can Master the 5 Most Popular Social Media Sites.

    Post #2: A real estate developer from Florida has been sentenced to over 7 years in prison at a federal court hearing in Connecticut.

    Post #3: Lenders Ease Credit Standards as Home Prices, Rates Rise. The Wall Street Journal reported that one out of five mortgages issued during the winter went to borrowers that have a debt-to-income ratio of 45%, which is the largest proportion since the housing crisis.


    Post #1: . How Real Estate Agents Can Master the 5 Most Popular Social Media Sites (FaceBook, Instagram, Twitter, SnapChat, and LinkedIn)

    Post #2: Millennials a surging part of U.S. real estate market, but not in Florida. Adults under the age of 35 are beginning to buy homes at an increasing clip.

    Post #3: Should a Landlord Refund a Fee for Amenities That Aren’t Available Yet?


    Post #1: Must-asks before hiring a real estate professional.

    Post #2: Should a Landlord Refund a Fee for Amenities That Aren’t Available Yet?

    Post #3: Solano Real Estate Scene: Are Realtors an endangered species? Buyers and sellers, who used to be entirely dependent on Realtors for access to home sale information, now benefit from easy access through the internet, fancy software apps and groundbreaking data-sharing sites.


    Post #1: Top Tips for Real Estate Networking.

    • Tip #1: Create an Effective Marketing Plan
    • Tip #2: Establish an Online Presence
    • Tip #3: Build Solid Listening Skills
    • Tip #4: Follow Through
    • Tip #5: Become Part of the Community
    • Tip #6: Stay Educated

    Post #2: Don’t Be Afraid Of The Seller’s Disclosure …unless it’s really scary!

    Post #3: U.S. Hospitals Inefficiently Own $1 Trillion Worth of Real Estate Assets Nationwide.


    Post #1: Home buying market so brutal, some home buyers make offer sight unseen. Why? Too many buyers chasing too few homes.

    Post #2: You know Illinois’ property taxes are sky-high. But the calculation process might surprise you. .But you still pay the 2nd highest property taxes in the country that helps feed Chicago corruption.

    Post #3: MLSs Take Giant Step Forward with Launch of Innovative Real Estate Data Platform: The MLS Grid.


    Post #1: WSJ, just 3-27-18, B1 – Refinancings decline as rates rise -refinancings make up a smaller portion of the mortgage business now that any time and thepast 20 years. Last year 37% of mortgage origination volume was due to refinancings, smallest proportion since 1995. In 2012 refinancings were 72% of loan originations. The overall mortgage market fell to about 12% or 1.8 trillion. There are fewer homeowners eligible to refinance ( 2.67 million potential borrowers) because of rising rates. Sales of previously owned homes in February rose 1.1% from year earlier. Rising interest rates, a shortage of housing inventory, and rising home prices are all long-term threats to purchase activity. The Mortgage Bankers association (MBA) expects mortgage volume to increase about 5% in 2018 and refinancing financing volume to drop 27%. To increase business, lenders are emphasizing a home equity lines of credit and are also pushing adjustable rate mortgages where initial rates are rising more slowly. The decline of the refinancing boom also attracts a different type of homeowner than before. The average credit score of refinancings 10 to go down reaching more risky borrowers. Some borrowers are refinancing now to get rid of their mortgage insurance.

    Post #2: National Credit Reporting Agencies to Remove All Tax Liens from Consumer Credit Reports in April 2018. Equifax, Experian, and TransUnion will cease reporting tax lien data during April 2018.

    Post #3: Local real estate agents say high property taxes hurt home sales. No shit!


    Post #1: House encroaches on utility easement — is this a problem?.

    Post #2: Video: Personal Safety Tips for Real Estate Professionals.

    Post #3: Why Uber’s Latest Hiccup Impacts the Real Estate Market.


    Post #1: Average Buyer’s Agent Commission 2018.

    Post #2: Real estate economist: Home prices are increasing twice as fast as income growth.

    Post #3: IRS Clarifies Home Equity Loan Tax Deductions Under New Law….“…despite newly-enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit (HELOC) or second mortgage, regardless of how the loan is labelled,” according to an IRS release.


    Post #1: WSJ, 3-26-18, R5 – “Renting out a home the new math”
    The new tax law And state and local income tax and property tax deductions and a total of $10,000. But there may be a way around that cap for people who rent out their home for at least 15 days a year. At let’s say you rent your house for three months you can deduct 25% of your property taxes on schedule E and adopt the difference below 10,000 on schedule in A. Another benefit is the new law makes it easier than ever to deduct in a single year the cost of personal property like furniture or appliances use by renters. You can now deduct 100% of your tax basis (cost and time some percentage of your of the property is rented).

    Post #2: Home Buying for Beginners What You Should Expect.

    • What Can You Realistically Afford?
    • Take a Look At Your Mortgage Options
    • Leave No “Stone” Unturned
    • Submit Your Offer

    Post #3: Existing Home Sales Decline, Inventory Still a Big Issue. Actually, “good choice” inventory is in shortage…there are alot of homes out there, but consumers are much more informed and can see a lemon at full price.


    Post #1: Home Buyers Should Know If The Seller Is Listening .

    Post #2: Defective Home: Who Is Responsible? .

    Post #3: FHA Insured $1.9 Billion in Loans to Borrowers Barred by Federal Requirements. FHA insured an estimated 9,507 loans worth $1.9 billion, which were not eligible for insurance because they were made to borrowers with delinquent Federal debt or who were subject to Federal administrative offset for delinquent child support.


    Post #1: 7 Ways You Can Study Real Estate Online .

    • Basic free and low-cost online courses
    • Prelicensure online education
    • State licensing exam prep
    • Continuing education requirements
    • Courses to become a broker and earn designations
    • Online certificate programs at universities
    • Real estate online degrees

    Post #2:Hidden cost of housing: How a shortage of construction workers is making our crisis worse.

    Post #3: Say What? A Guide to Real Estate Lingo.


    Post #1: 10 Home Landscaping Rules You Should Never Break:

    • Consider the right plants for your climate
    • Avoid overdeveloping your yard
    • Plan for the right professional help
    • Know your maintenance limits
    • Seed and aerate your lawn appropriately
    • Know what local ordinances allow and require
    • Ensure surfaces aren’t angled toward your house
    • Keep shade in mind as you plan
    • Contact your homeowners insurance provider
    • Don’t restrict yourself to an existing layout

    Post #2: Can You Pass The Flipping Personality Test?

    Post #3: Warning signs in the housing market aren’t hurting Zillow


    Post #1: In 2016, the National Association of Home Builders said about $85,000 of the cost of a new home was attributed to regulations – but guess what, regulations may be there to keep builder honest yet only by minimum standards – i.e, building codes!

    Post #2: Best Tech Tools for Real Estate Agents.

    • Real Estate Touring and Staging Options
    • Real Estate Video Solutions
    • Real Estate Live Videos
    • Time Management Resources
    • Real Estate Marketing Material Creation
    • Document Services
    • Real Estate Keyword Planners
    • Real Estate Education

    Post #3: 14 Tips For Choosing The Right Real Estate Agent For Your Property Search Or Sale.


    Post #1: Move Over Millennials, Gen Z is Already Buying Homes .

    Post #2: How to Calculate Real Estate Appreciation .

    Post #3: Artificial intelligence is the latest competition for real estate agents.


    Post #1: Experts share advice for first-time homebuyers ….misconception that homebuyers need a large down payment…importance of shopping around for different mortgage lenders…avoid making any big purchases right before buying a home

    Post #2: Home Ownership Versus Renting: How Tax Reform Adds To The Decision .

    Post #3: Black Stainless Steel: Is It The Next Big Thing? .


    Post #1: A booming housing market has realtors in a bind.

    Post #2: Real Estate: What Do Homebuilders Know That Their Shareholders Don’t? The National Association of Home Builders (NAHB) released its Housing Market Index (HMI) for the month of March last Thursday. The data, though deteriorated ever so slightly, still showed very elevated builder confidence in the housing market.

    Post #3: A new housing crisis emerging?. Home construction is approaching its lowest level in decades as fears emerge that a new, different industry crunch could be emerging.


    Post #1: 19 blogs that real estate brokers should bookmark.

    Post #2: All Things Real Estate: Old scam makes comeback. General scam: I was contacted by a real estate guy who said if I was having trouble he could buy my house from me for a percentage of the equity and let me live there and pay rent. Then, when I was either making more money or could get a better mortgage I could buy it back.

    Post #3: Mississippi Lawmakers Seek to Widen Property Tax Break .Senate Bill 2479 would allow local governments to cut local and school property taxes by two-thirds on economic development projects worth $60 million or more. Right now, the project must be worth $100 million or more to qualify.


    Post #1: What to Do if Your Home Doesn’t Sell.

    • Does it Make the Best First Impression?
    • Does it Appeal to The Target Market?
    • Can Buyers Visualize Living in This Home?
    • Are Key Features Highlighted?

    Post #2: Did you know it can take cyber criminals one day to decipher an eight-character password? Did you know it can take them 591 days to figure out a 10-character one?. Did you know it can take cyber criminals one day to decipher an eight-character password? Did you know it can take them 591 days to figure out a 10-character one? Bogus DocuSign emails, emails with illegitimate referrals and ransomware are also on the rise. Aside from making off with money, criminals can filch personally identifiable information, or PII, through any or a combination of schemes.

    Post #3: Ask Nancy about Real Estate: Is it advisable to have a general home inspection done before I put my home on the market? Hint: it all depends on whether you want to find out problems before listing the house or after you’ve priced it out and negotiated your position.


    Post#1: Wall Street Journal, 3-9-2018, M4 “For home buyers, secrecy = privacy” – limited liability companies are normally formed when Real properties are purchased to hide the identity of the owner. In addition to protecting an owner’s identity, prevents some scams, and frivolous lawsuits, but also hides the owners so you don’t know if known criminals are involved.

    Post #2: Real Estate Agents: Not Using Social Media Yet? You Should Be!…Example: 68% of U.S. adults use Facebook, with 74% of those users logging in at least once per day…but maybe not to your Facebook page?

    Post #3: Foreign Buyers Increasingly Interested in U.S.-Based Real Estate between April 2016 and March 2017, Chinese buyers spent $31.7 billion in residential real estate…but China’s appetite recently dropped…as other foreign buyers have stepped up their game.


    Post #1: This startup just raised $5 million to automate the clunky real estate appraisal process . the company is using natural language generation to help its appraiser clients produce reports. “Instead of writing the same paragraphs time and again, you click and check boxes to explain why a property is better than a comp.

    Post #2: The Millennial Mindset: Is Your Real Estate Practice Prepared for It?

    • Millennial Property Purchases = Perfectionism
    • Millennial Choices: City or Suburb?
    • Millennials Won’t Start with a Starter
    • Millennial Demands: Are You Prepared for the Future?
    • Next-Generation Clients Expect Next-Generation Tools

    Post #3: The Law Q&A | Written-off debt may still cost you come tax time. Thus, if your mortgage lender writes off part of your mortgage debt for the house you live in which is qualified principal real estate, that is not taxable (but only up to $2 million — or $1 million if married and filing separately; so if you owe $4 million for a house loan and it is all written off, you will have a $1 million or $2 million income to report — unless you are insolvent).


    Post #1: Real Estate in Brief: FHA to expand foreclosure relief for 2017 disaster victims…homeowners in areas affected by Hurricanes Harvey, Irma and Maria, as well as those impacted by the California wildfires, flooding and mudslides.

    Post #2: Real estate company sues firm after falling victim to scam. Geils Home Wisconsin LLC filed suit in Waukesha County Circuit Court on Tuesday, alleging that Merit Title of Brookfield breached its contract and was negligent in failing to protect Geils from a real estate scam.

    Post #3: Local couple sues real estate company over land mix-up . Text messages provided in evidence show their agent told them multiple times she was working to get the sale reversed and that she’d been in contact with the seller and listing agent. So, who performed the title search on this property?


    Post #1: The perfect real estate buyer should never… .

    • don’t work with an agent for months and buy from someone else at an open house
    • don’t work with more than one real estate agentDon’t contact listing agents personally. Use ypur real estate agent
    • Don’t ask an agent to show homes for sale before getting pre-approved
    • Don’t look at homes outside the pre-approved price range
    • The buyer should understand where they want to live
    • Don’t make unrealistic lowball offers
    • Lastly, don’t make an offer contingent on selling a home.

    Post #2: Cost Saving Tax Ideas for Real Estate Agents.

    • Home Office & Office Space
    • Drive Time
    • Client Relations and Lead Generation
    • Home Showings
    • Fees and Dues
    • Staying on Top of Your Taxes


    Post #1: Real Estate | ‘Rising Up’ – Homeowners in flood-prone areas trying creative elevation. Hazard Mitigation Grant Program (HMGP).

    Post #2: Phone Scams Remain on IRS ‘Dirty Dozen’ List of Tax Scams. In the most common version of the scam, callers posing as IRS representatives contact taxpayers by phone, claiming that they owe money to the IRS.

    Post #3: Space donated in Seattle to build tiny houses for homeless – solution for other cities or consolidating a problem?


    Post #1: The impact of recent tax reform on investment real estate.


    Post #2: Tax Reform: The Impact of the New Tax Law on Real Estate Investment.


    Post #3: Nine Must-Haves For Your New Home, Valentine’s Day Edition.

    • The right location
    • The right overall layout
    • Enough bathrooms
    • Dual sinks
    • A good family gathering space
    • Upstairs laundry
    • A sufficient garage
    • The right size backyard
    • A kitchen you can work with


    Post #1: Real Estate Agents: Not Using Social Media Yet? You Should Be!…Example: 68% of U.S. adults use Facebook, with 74% of those users logging in at least once per day…but maybe not to your Facebook page?

    Post #2: Saying that a 65% return on investment is a “philanthropic venture” is really stretching things. No matter who it is designed to help with down payment assistance, this rate of return is worse than “payday” loans.


    Post #1: Hidden cost of housing: How a shortage of construction workers is making our crisis worse.

    Post #2: 10 Tips for Real Estate Home Buyers.

    Post #3: 3 tips for real estate video marketing newbies


    Post 1: Georgia House Bill 410 – restricts fees for HOAs to charge for statement of account … caps the total initial fee at $250 unless rushed which requires another $50 or amended which requires another $50 – who pays it? Buyer or Seller?

    Post 2: FHA Home Loan Limits for 2018. Many counties in the US will increase FHA loan limits to $453,100 beg8ning in 2018 from $424,100 loan limits in 2017.

    Post 3:Much More to Mortgages Than Interest Rates. Mortgage decisions are best made with thought to your cash flow, pay days, employment security, other debt, credit pressures, and long-term financial goals.


    Post #1: Appraisals Off by a Larger Margin.

    Post #2: The ultimate real estate agent home inspection checklist.

    Post #3: Lack of Homes on the Market Takes a Toll on First-Time Buyers.


    Post #1: 3 ways the stock market can affect real estate.

    Post #2: Common Property Investment Pitfalls.


    Post #1: Annapolis man sentenced to 4 years in prison for real estate, credit card fraud. In addition to a scheme to steal credit card numbers, he created websites and promised real estate agents leads…

    Post #2: Ben Carson Orders Official HUD Review Amid ‘Attack by the Media’.


    Post #1: Survey shows consumers are poised to embrace virtual real estate tours.

    Post #2: Real Estate Takes on Drone Technology. Fad or here to stay? And when do you expect to live in the sky to view what your house looks like from there?


    Post #1: Creative Ways To Save For A Down Payment:

    • Look for down payment assistance
    • Save your pennies
    • Shop for a better savings account
    • Do automatic transfers
    • Get a gift
    • Save all raises and bonuses
    • Shift some money toward repairing your credit
    • Pare down
    • Call your cable, Internet, and phone providers
    • Make your coffee – and your lunch – at home

    Post #2: Real estate tightens, owners stay put.

    Post #3: In age of social media, do we still need to host open houses?. Note: Only if you want your agent to market themselves and not the house-as most I’ve seen do—or criminals to scout out your home…even if it’s vacant, they will know what appliances you have, if you have an alarm system, etc,.


    Post #1: Do homeowners need mortgage life insurance?. It all depends on ho will remain to burden with the mortgage as well as the specific coverage requirements. For instance, it might matter how you die. For instance, the policy might cover accidental deaths (you’re hit by a bus) but not death by natural causes (you have a heart attack).

    Post #2: Budget 2018: Would the real estate sector ever see real changes?.

    Post #3: Will It Become Harder to Afford a Home? Experts Say Yes.


    Post #1: NAR wins pro-real estate provisions in budget deal. The National Flood Insurance Program (NFIP) and six tax provisions that affected real estate were extended in the federal budget deal signed by President Donald Trump on Feb. 9, thanks to lobbying by the National Association of REALTORS®. NAR wins pro-real estate provisions in budget deal

    Post #2: NAR Wins Pro-Real Estate Provisions in Budget Deal.

    NAR wins provisions


    Post #1:
    Two California residents are facing federal indictments for allegedly participating in a nationwide telemarketing real estate scam that reached into parts of Madison and St. Clair counties
    . Under the SCAMS Act, because it alleged that the crimes took place in connection with telemarketing, and victimized ten or more people over age 55, the maximum penalty for the conspiracy to commit wire fraud and wire fraud count carries a maximum sentence of 20 years. The pair can also be fined up to $250,000 per count, and can be ordered to pay restitution to the victims.

    Post #2: 18 things real I estate agents should do before 2018. Including (a) Send thank you cards, not just holiday cards, to everyone who helps you keep the lights on and (b) Remove, block or ignore any trolls or haters.

    Post #3: 5 Tips for Buying A House With Student Loan Debt . This includes improving your credit score and considering down payment assistance programs.


    Post #1: Why Should Real Estate Firms Invest In Technology?

    Post #2: Property doesn’t always make you money as data shows house price falls over the past decade.

    Post #3: There’s A Lot To Consider When Choosing A Home Inspector.


    Post #1: Conventional Shmonventional: Is A Creative Loan Option Best For First-Time Buyers? “A new program allows employers to help workers’ down payment on a home, similar to how companies contribute to a 401(k),” said REALTOR Mag. “HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform….

    Post #2: 5 Reasons to Get a Prelisting Home Inspection.

    Post #3: Average U.S. Home Seller Profits At 10-Year High Of $54,000 In Q4 2017 .


    Post #1: Some impacts of new tax law on local real estate are clear. Some aren’t..

    Post #2: Should downsizing baby boomers rent or buy? We can unequivocally conclude: It all depends.



    Post #2: Will You Be Able to Get a Mortgage in 2018? Hint: You likely won’t have to worry about getting approved by a lender.

    Post #3: Why You Should Sell Your Home in 2018 . According to a recent survey, 31% of respondents expect 2018 to be a better year for selling a home than 2017 – and just 14% expect it to be worse.


    Post #1: Real estate companies work to draw in millennial homebuyers. “There’s definitely the apps they love to use. It’s that instant gratification. So they’re able to look at photos online and do virtual tours,” Rogers said.

    Post #2: The top 5 real estate marketing ideas.

    • Focus on the clients you have, not the leads you want
    • Showcase your expertise with a digital storefront
    • Distinguish yourself from the countless other agents in your market
    • Consistently utilize one or two brand-building activities
    • Create value with your content-marketing strategy

    Post #3: Man accused of attempting to sexually assault real estate agent who was giving him a tour of a home.


    Post #1: Pay Attention in 2018! …to these and other factors:

    • changes to tax law, estate planning, resulting neighborhood development
    • Saving for a down payment,
    • Paying monthly condominium fees,
    • Pay attention to which laws, regulations, services, and real estate expenses have actually changed

    Post #2: Top 3 Most Popular Real Estate Accounting Software in 2018 . While 55 percent of sales in 2017 were between $500,000 and $1 million, that segment of the market is slipping away as locals who already own real estate are no longer trading up or building new homes.

    Post #3: If I buy through the Seller’s Agent, will I get a better deal? Three compelling incentives for why home buyers should use the services of a licensed Realtor.


    Post #1: There are 5% down payment loans on Jumbo Mortgage Loans (now $453,100 is Fannie & Freddie eligible); up to 10% down payment on home loans up to $1 million… lower down payments normally come with higher interest rates (more risk)…and seasoned funds are defined as those in your bank/investment accounts are at least 60 days old.
    Source: Wall Street Journal, 1-29-2018, “Up in the Air over Down Payments”, Page M7

    Post #2: Who Owns the Home When Two Names are on the Mortgage? . Both names can be on the title of the home without being on the mortgage. Generally, it’s best to add a spouse or partner to the title of the home at the time of closing if you want to avoid extra steps and potential hassle. Your lender could refuse to allow you to add another person – many mortgages have a clause requiring a mortgage to be paid in full if you want to make changes. On the bright side, some lenders may waive it to add a family member.

    Post #3: Mortgage lender LoanDepot sees real estate agents as key in next phase of fintech. The lender’s parent, LD Holdings LLC, said it is working on a service to connect pre-approved borrowers with local real estate agents.


    Post #1: Pennsylvania could eliminate property taxes this year, senators say . Argall said he’s polling senators on four options: One would exempt homeowners from paying taxes on their primary residences and would raise the state income tax to fund school districts; two also would exempt only primary residences, but would make up the difference through combinations of sales and income tax increases; and the Property Tax Independence Act, which would eliminate school taxes on all properties by raising sales and income taxes.

    Post #2: New California Law Requires Additional Pool Safety Devices. Not sure if your state or county public health department requires these or other safety measures, but be sure to investigate. Good article on 2007 Virginia Graeme Baker Pool And Spa Safety Act.


    Post #1: Arkansas real estate agent, daughter plead guilty for fake will. A former south Arkansas real estate agent and her daughter have pleaded guilty to federal crimes involving a fake will for a survivor of an oil rig explosion who later died in a car crash.

    Post #2: FBI and NAR offer 10 ways to guard against real estate cyber scams.

    Post #3: The truth about technology and the role of a real estate agent.


    TransUnion exec talks credit scores and real estate. The first thing is to look at your credit report and see what your score is. And maybe people don’t know this, but for a real estate transaction a mortgage lender looks at all three credit reports — TransUnion, Experian and Equifax.


    Post #1: Limited housing inventory remains the primary drive of increased home prices in the US. The median sales price of an existing home in 2017 was 246,800, up about 6% from 2016. Source: WSJ, 1-25-2018, A2

    Post #2: Intersection: How Zillow Wants To Be Your Real Estate Agent. Zillow started testing out this new service last year in Orlando and Las Vegas. The company says it will keep testing the program in Orlando and will expand it this year into Phoenix. But realtors are pushing back, saying there’s more to the service that how it’s being marketed.

    Post #3: Amherst: Amazon’s HQ2 choice to drive local housing demand up to 25%. This may sound great for home sellers and residential listing agents, but for home buyers (especially first time Buyers) and those still living in homes, it’s pricing some Buyers out of the market and raising prices for home based related services like contractors, HVAC, plumbers, electricians, etc.,.


    Post #1: Defining Principal Residence: Its Your Home! In order to take advantage of the up-to-$500,000 exclusion of gain (or up-to-$250,000 if you file a tax return as a single taxpayer) the house you sell has to be your “principal residence”.

    Post #2: Why Home Buyers and Agents Need to Have Each Other’s Backs.

    Post #3: Tips for selling a house to millennials. Fresh paint and staging? Is that all – no!


    Post #1: An $80,000 kitchen upgrade isn’t going to add $80,000 or more to the value of your house. Better rethink that kitchen an bathroom remodel project.

    Post #2: Real-Estate Matters: There’s no standard method to calculate square footage. Note: Typically in the Atlanta area, appriasers meaure square footage of houses using outside walls…

    Post #3: 10% and Falling: Housing Inventory Keeps Shrinking. “Tight inventory fueled by a tight labor market and low interest rates propelled home values to record heights in 2017, but the outlook is now much less certain,” Terrazas says. “Tax reform will put more money in the pocket of the typical buyer, but will limit some housing-specific deductions. Overall, this should increase demand for the most affordable homes and ease competition somewhat in the priciest market segments.”


    Post #1: 6 secrets to getting a real estate listing every day.

    Post #2: Real Estate Advice: Don’t withhold your condo fees.


    Post #1: FDIC hit by 50+ breaches in a two year period. One of the most striking findings was how the FDIC handled notifying the potential victims of their breaches. Of the 18 cases reviewed in the report, the FDIC only contacted victims related to five of the incidents. Additionally, it took an average of 288 days—or more than 9 months—from the date the breach was discovered to the date that the FDIC notified affected individuals.

    Post #2: The Inman Files: Ending 155 years of real estate scams.

    Post #3: Three Big Things Homebuyers Are On The Look-Out For.

    • Curb Appeal
    • Space
    • Updates


    Post #1: Why You Should Sell Your Home in 2018 . According to a recent survey, 31% of respondents expect 2018 to be a better year for selling a home than 2017 – and just 14% expect it to be worse.

    Post #2: Reverse Mortgages Draining FHA Resources, Overhaul Needed. Home Equity Conversion Mortgage (HECM) program the program is an economic drain…the most recent showed the program with an economic value of negative $14.5 billion


    Post #1: All Things Real Estate: Home transfer triggers acceleration clause. Banks pretty much suspended this practice back in 2007-08 as the number of foreclosures due to the Great Recession began to spike.But now, with the economy growing and the real estate market pretty stabilized, the banks are going back to enforcing the acceleration clause.

    Post #2: If you prepaid property taxes, will you get the deduction? If not, can you get your money back ? “In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018,” the IRS said in its Wednesday advisory. “A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017.”


    Post #1: 8 Ways To Up Your Chances Of Buying Your First Home .

    • Work with a good REALTOR®
    • Get that preapproval
    • Talk to landlords
    • Consider a home that needs work
    • Look just outside your target neighborhood
    • Consider a transitioning neighborhood
    • Raise your budget
    • Go back to your lender

    Post #2: How many credit checks are performed before closing on a home purchase? Hint: More than once.


    Post #1: Local real estate agent fined over lead paint charge. Serves time and pays >$50,000 in fines.

    Post #2: Man pleads guilty to armed robbery of real estate agent.

    Post #3: Ask The HOA Expert: Parking Rules…contractor estimates…etc,.


    Post #1: 2018 real estate forecast: foggy, lukewarm. Slower price growth than 2017

    Post #2: What Xceligent’s Bankruptcy Says About the Property Data Business. Commercial real estate data firm Xceligent filing for bankruptcy protection, the property data industry was not surprised—it’s an expensive field to be in.


    Post #1: Hundreds of robot realtors are helping Bay Area renters find new homes. The three-foot-tall robot had an iPad mounted at the top, connected to real estate agent Rabia Levy in her Sunnyvale office. “I’m a person too!” she responded.

    Post #2: 5 Ways Savvy Real Estate Agents Are Using Social Media.

    Post #3: 10 tips to have an awesome mortgage in 2018.


    Post #1: What To Expect In 2018 In Real Estate.


    Post #2: Ask the HOA Expert: Fines Should Be Reasonable.

    Post #3: There is an estimated $6.7 trillion of outstanding government guaranteed mortgage (FHA,VA, Freddie Mac, or Fannie Mae) debt.


    Post #1: Tax Reform: Here’s What Could Impact Homeowners Most:

    • Cap on Mortgage Interest Deduction
    • New SALT Deduction Limit
    • Preserved Exclusion of Capital Gains
    • Deductibility on Home Equity Loans
    • Doubling of the Standard Deduction

    Post #2: A Guide to Selling Real Estate to Millennials – Maximize your opportunities…More than half the homes sold last year were sold to Millennials, and so you need to be able to understand their motivations to reach this generation effectively.

    • Be Online
    • Mobile-friendly
    • Friendly content
    • Make it easy
    • Get out there
    • Be Transparent
    • Re-evaluate Your Listings


    Reasons Why Real Estate Brokers Will be Needed Forever.

    • They Have Serious Knowledge Of Your Local Area
    • They Have A Close Eye On Current Market Trends
    • They Know How To Market Your Property
    • They Can Handle Heated Conversations And Paperwork


    According to the National Association of Realtors, we’ve been in a Seller’s market for the past 5+ years.

    Mixed real estate news— Housing starts rose 3.3% in November from October but residential housing permits fell 1.4% – WSJ, 12-20-2017, Page A2. This probably just means we are heading into the winter season which is traditionally slower housing starts due to weather and weather related delays….which cause extra cots for developers and builders.


    Current value of U.S. homes are worth a combined $31.8 trillion.

    3 Keys to Understanding the Millennial Mindset on Real Estate .

    Real-estate mogul: 3 rules for flipping a home with friends or family:
    1. Draw up a contract
    2. Set a strict schedule and budget
    3. Communicate throughout the project

    Top 10 Threats to Real Estate in 2019.

  • Posted in Uncategorized | Comments Off on Daily Real Estate News from Access Brokerage

    The New Home Mortgage Disclosure Act (HMDA) Rule

    On April 25, 2017-the CFPB issued a proposed clean-up rule to correct and clarify the 2015 rule (that expanded the data to be collected and reported by lenders regarding borrowers) to become effective January 1, 2018.

    Brief overview:

    Lenders are to collect the new data (see complete A Regulatory and Reporting Overview Reference Chart of requested information) required by the rule for loan actions on or after January 1, 2018, and they will need to report this data by March 1, 2019. The new HMDA rule requires reporting on 48 data fields-adding 25 new data fields to the current 23-but also modifying 20 of the existing fields. The new data fields include those mandated by the Dodd-Frank Act, as well as fields required by the CFPB under its discretionary authority. Some of the new HMDA fields include:

    • Age of borrower and credit score;
    • Borrower’s debt-to-income (DTI) ratio;
    • Borrower-paid origination charges;
    • Interest rate; and
    • Lender credits;

    Applicable financial institutions will be required to collect, record and report information for approved-but-not-accepted preapproval requests for home purchase loans (the collection, recording and reporting of this information is currently optional).

    Also-beginning in 2020-institutions that reported a combined total of at least 60,000 applications and covered loans in the preceding calendar year will be required to report data quarterly. The first quarterly submission will be due by May 30, 2020.

    As of the time of this log post, I understand private consumer identification information (name, ss#, address, etc) will remain private and not be released to the public.

    Potential impact:

    • Expensive implementation costs for systems and business process changes immediately on the heels of the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule;
    • Confidential information-such as credit scores, if improperly released, could cause significant harm to borrowers’ claims against lenders, and even undermine homeownership;
    • Increased litigation risk. HMDA has been a major source of fair lending claims in the past, and the new data will allow greater analysis of application and loan data to evaluate impacts on protected classes. While HMDA’s purpose is to shine light on lending practices, data can be misused to present unfair claims-forcing costly litigation defense, and/or settlements and causing significant reputational harm.

    Home Mortgage Disclosure Act (HMDA)/Reg C – Frequently Asked Questions such as:

    • Are “fix and flip loans” reportable for HMDA purposes?
    • Can you be more specific regarding reporting ethnicity and race for loans purchased?
    • Does “Preapproval”, when the final loan disposition is “Approved but Not Accepted”, also mean “Preapproval Mailings”?

    Source: The New Home Mortgage Disclosure Act (HMDA) Rule.

    References to articles, sources, products, or services are not a specific endorsement and not guaranteed to be true or accurate, but the user must perform their due diligence and investigate whether the information provided is valid, or the product or service is right for them. I welcome any or all comments that would help others……Be careful – if it sounds too good, it probably is!

    Posted in Uncategorized | Comments Off on The New Home Mortgage Disclosure Act (HMDA) Rule