Pending home sales picked up the pace in March, but ongoing issues related to low inventory kept contract activity below year-ago levels, the National Association of REALTORS® reported Monday. NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, inched up 0.4 percent to a reading of 107.6 in March. Despite the uptick, overall activity was down on an annualized basis for the third consecutive month.“Healthy
The Consumer Financial Protection Bureau says it has fixed what’s become known as an information “black hole” in the Know Before You Owe mortgage rules, and the agency is attempting to provide greater clarity to borrowers when it comes to disclosing increases in closing costs. Under a new amendment to the mortgage rules, the CFPB clarifies when lenders are allowed to pass increased closing costs on to consumers and makes the disclosure of
With a tight market this spring, competition for listings and buyers will be fiercer among real estate professionals. So how can you show clients you’d be the best representative for their housing needs? Forbes.com recently featured tips for salespeople to capture more of their market share, including personalizing your sales pitches, showing greater understanding for clients, and even reverting to mail.Show a complete understanding of the situ
Millennials purchased 36 percent of homes last year, which is the highest share of any age group, according to the National Association of REALTORS®. But faced with one of the tightest, most competitive housing markets in years, they’re being pushed out of some of the the nation’s largest and priciest cities.Therefore, young home shoppers are relocating to more affordable parts of the country. Realtor.com® identified cities with the highest
A new federal rule is expected to exempt nearly one-third of commercial property sales from needing an appraisal. The rule, which was adopted by the Federal Reserve Board, Federal Deposit Insurance Corp., and Office of the Comptroller of the Currency, doubles the threshold for commercial real estate deals that require an independent appraisal.Under the new rule, commercial property sales of $500,000 or less are exempt from the appraisal requireme
3 time management activities to book more appointmentsI’m sure it’s happened to you.You show up at the office with the best intentions to make the most of your day. Yet hours later, you head home feeling like you didn’t accomplish one thing that will bring in the bucks.In this business, it’s way too easy to waste time on “busy work” that doesn’t contribute to your bottom line.To combat this dilemma, I’ve got three money-making act
4 key concepts real estate professionals should adoptAs the real estate industry continues to evolve, the importance and value of delivering an exceptional client experience has never been higher.Yet, every day seems to bring a new entrant to the market that claims to provide better, faster transactions — without the need for human touch.But real estate will always be deeply human with great service marked by standout personal service. With all
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Freddie Mac is debuting a new 3 percent down payment option for qualified first-time buyers that could put it in direct competition with the Federal Housing Administration’s low down payment mortgage. The mortgage financing giant announced Thursday that it is rolling out a new conventional 3 percent down payment option called HomeOne, which will not have any geographic or income restrictions.Freddie’s expansion into small down payment loan p
Whether you’re speaking in front of your office or presenting at a real estate conference, sweaty palms, shaky hands, and an accelerated heart rate are pretty common reactions. In fact, more than 70 percent of adults fear public speaking. But you don’t have to let that anxiety hold you back from delivering a strong, influential presentation. Here are five tips from marketing expert and speaker Marc Gordon for keeping your cool and captivating
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