Saturday , 17 February 2018

What’s New

When in Life Do Most People Achieve Home Ownership?

The average consumer’s life is filled with financial milestones, and buying a home is a major one. But when do most people reach the milestone of homeownership? Researchers at Comet Financial Intelligence, a student loan refinancing resource, surveyed 1,200 Americans on how long it took them to complete their financial “rites of passage” with homeownership and other savings hurdles. Among …

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Airbnb Income Counts Toward Refinancing

With the backing of Fannie Mae, home-sharing giant Airbnb has announced a new partnership with select lenders, including Quicken Loans, Citizens Bank, and Better Mortgage, that will allow homeowners to report rental earnings as part of their income when applying to refinance a mortgage. Owners who rent rooms on Airbnb had been facing delays, higher interest rates, and loan limitations …

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The Mythical Value of Smart Homes

Disabuse buyers and sellers of these common misunderstandings about what constitutes a true smart home and what different technology features are actually worth. Consumer demand for smart-home technology is surging, with reports predicting the industry will reach $130 billion between 2020 and 2025. But despite the popularity of the idea, many of your clients don’t fully understand what constitutes a …

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Mortgage Rates Keep on Pressing Higher

The 30-year fixed-rate mortgage reached its highest average since December 2016, Freddie Mac reports. This is the fifth consecutive week that mortgage rates have been on the rise, increasing borrowing costs for home shoppers heading into the spring buying season. “Following a turbulent week, financial markets settled down with the 10-year Treasury yield resuming its upward march. Mortgage rates have …

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Housing’s State of Union: Pressing Issues Ahead

President Donald Trump’s State of the Union address is now history, but realtor.com® has released its own “State of the Housing Union.” The housing market outlook is looking bright on several fronts: strong buyer demand, particularly among first-timers, and a growing U.S. economy urging more consumers to buy. But a housing shortage is also proving to be a major obstacle …

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Remind Buyers to Unfreeze Credit

Following last year’s Experian data breach, many people froze their accounts to safeguard them from potential identity thefts. But with the spring homebuying season on the horizon, don’t forget to remind potential home shoppers that they may face some hassles getting approved for a mortgage if they don’t remember to unfreeze their credit first. Lenders tend to pull reports from …

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Smarter Ways to Collect and Use Testimonials

Client testimonials are crucial to building a robust real estate brand, but you need to learn how to collect and use them correctly in order to get the most out of this vital marketing asset. Case studies are some of the most effective content marketing tactics, which is why businesspeople from every industry constantly ask for feedback and quotes from …

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Think Local or Go Extinct

Looking for a lucrative real estate strategy? Start local. In the past, real estate professionals had something their clients didn’t: an in-depth knowledge of what properties are available and exclusive access to valuable statistics to help potential buyers make informed decisions. But now, the internet has made all of this real estate information publicly available—access to listing prices, property ownership …

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Employers Can Now Add to Down Payments

A new program allows employers to help workers’ down payment on a home, similar to how companies contribute to a 401(k). HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform, allows borrowers to crowdfund their down payment from several sources, including their employer. CMG Financial, a mortgage banking firm, created the HomeFundMe program. Employers can contribute directly to employees’ HomeFundMe …

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What Your Broker Is Worried About

The nation’s real estate brokers have a lot of pressing issues on their minds, from how to deal with the lack of inventory to recruiting and profitability concerns, according to a new survey by Better Homes and Gardens Real Estate and RISMedia. The two teamed up to survey more than 400 real estate brokerages and 13,000 agents to find out what …

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Higher Limits for FHA-Backed Loans

Real estate professionals have some good news to share with their clients. As of Jan. 1, buyers are able to get much larger mortgages, whether they’re applying for conventional or FHA-backed loans. Each year, Fannie Mae and Freddie Mac adjust their limits for conventional, conforming loans based on changes in median home prices. For 2018, the companies are increasing loan …

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