The mortgage industry loves jargon and it can quickly confuse a real estate professional and all the moreso a borrower. The Fannie Mae Sellers Guide alone has 91 different acronyms and abbreviations.The National Mortgage News recently offered up a few of the most common acronyms buyers and professionals should know while going through the homebuying process.DTI: Debt to income Underwriters turn to this ratio to determine if a borrower can financi
Developers have expressed concerned that golf courses are losing favor with homeowners in high-end communities, but a new study shows they still boost home values. Researchers at Florida Atlantic University evaluated more than 10,000 home sales in the state's Palm Beach, Broward, and Miami-Dade counties in 2015. They found that property values for homes adjacent to a golf course increased an average of 8 percent to 12 percent."Preliminary result
California homeowners and neighborhood groups are filing lawsuits against the state's major cities, demanding they roll back some of their zoning restrictions to make way for more housing development. While the nation's most populous state, California ranks 49th in the number of housing units per capita — beating only Utah — and has the second-highest rate of overcrowding after Hawaii. Officials say the state's housing supply is so low that i
As society operates more and more online, handwritten notes are becoming a rarity — which is why sending one to your clients could help you stand out from your competition."A thank-you note can stand out from the seemingly dull and impersonal style of digital communications, such as emails and texts," Keller Williams Realty notes on its blog. "With mailing lists and newsletters coming at your clients from nearly every business they visit, a tha
Do you know a REALTOR® whose volunteer work has changed the lives of people in their community? Two awards programs honoring REALTORS® who have made exceptional community service efforts are now seeking entries — and you may know a winner.Where to ApplyTo submit an application for either the 2017 Good Neighbor Awards or the Volunteering Works programs, go to nar.realtor/gna.Now through Friday, May 12, you can nominate yourself or a fellow REA
The time it has taken for homes to sell nationwide in January has decreased at a rate of 4 percent compared to a year ago, despite record-high housing prices, according to realtor.com®'s latest housing report."We saw evidence of a stronger-than-normal off season starting last September and October due to pent-up demand and surging interest from first-time buyers," says realtor.com® chief economist Jonathan Smoke. "The downside to this strong of
What are the key traits you need to make a stellar impression when networking? Ivan Misner, founder of Business Network International, recently surveyed 3,400 business professionals across the globe to find out the characteristics they like to see in a great networker. Good listener: 61% Positive attitude: 56% Helps others/collaborative: 52% Sincere/authentic: 52% Follows up: 52% Trustworthy: 48% Approachable: 32%"Success in networking depends on
Despite a solid gain in mortgage rates last week, home buyers and refinancers were not deterred. Mortgage application volume, which reflects demand for home purchases and refinancings, increased 4 percent last week over the previous week and on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday.Last week, mortgage applications for home purchases increased 6 percent compared to the previous week. Purchase applications
Homes across the country are selling faster than they were a year ago. Nationwide, properties stayed on the market for an average of 52 days in December, down from a 58-day average a year ago, the National Association of REALTORS® reported in its latest housing report Tuesday. Thirty-seven percent of homes sold in December were on the market for less than a month.The following five metro areas had listings that stayed on the market the shortest
Ben Carson, a retired neurosurgeon, will step in as the new secretary of the Department of Housing and Urban Development. A Senate committee unanimously approved President Donald Trump’s choice of Carson for the top HUD spot on Tuesday. Carson will replace Julián Castro, who has served in the position since July 2014.Carson “has a brilliant mind and is passionate about strengthening communities and families within those communities,” Presi
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