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!
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
10. Antitrust misconduct
11. Working outside your comfort zone
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: 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 #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: 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
Preparation / Start Early
Change of Address
Moving / Packing Supplies
Ask for Help
Sort and Organize your Belongings
Clean the Empty House Before Moving In
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 #2: How to Find a Real Estate Agent .
Post #1: Millennials Still Aren’t Home Alone.
- 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 #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.”
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.
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
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 #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: 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?
These three pots relate to Dual Agency – should it also be prohibited in the United States?
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 #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 #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 #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 #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: 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 #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: 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
- 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 #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.”
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 #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 #2: Why Do You Need a Real Estate Agent?.
Post #1: Does It Makes Sense To Buy A New House Before Selling The Old One? That all depends….
- 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
1. Antitrust laws
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 #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.
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 #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 #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 #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 #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 #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
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 #2: ZILLOW: MY HOUSE IS WORTH WHAT?
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: 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
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 #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
- 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 #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: 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: House hunting? Here’s how to win a bidding war. Cash-Withdraw Finance Contingency-Write a Personal Letter – or Just walk away.
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 #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: 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 #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 #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: Average Buyer’s Agent Commission 2018.
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).
- 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 #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 #3: Say What? A Guide to Real Estate Lingo.
- 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 #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 #2: How to Calculate Real Estate Appreciation .
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: 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 #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.
- 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.
- 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.
- TAXATION AND DEPRECIATION
- MORTGAGE INTEREST DEDUCTIONS
- PROPOSALS THAT DID NOT MATERIALIZE
- PASS-THROUGH ENTITIES
- BUSINESS INTEREST LIMITATION
- 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 #2: 10 Tips for Real Estate Home Buyers.
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: 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: 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 #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
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: 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: 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 #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.
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 #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: 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.
- Curb Appeal
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.”
- 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 #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 #1: What To Expect In 2018 In Real Estate.
- HOME VALUES WILL CONTINUE TO RISE
- NEW CONSTRUCTION WILL MAKE REAL ESTATE MORE ACCESSIBLE
- MILLENNIALS WILL MOVE TO THE SUBURBS
- BOOMERANG BUYERS WILL RETURN TO THE MARKET
- NEW TAX LEGISLATION WILL IMPACT HOMEOWNER DEDUCTIONS
- INTEREST RATES WILL RISE
Post #3: There is an estimated $6.7 trillion of outstanding government guaranteed mortgage (FHA,VA, Freddie Mac, or Fannie Mae) debt.
- 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
- Friendly content
- Make it easy
- Get out there
- Be Transparent
- Re-evaluate Your Listings
- 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.
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