U.S. Foreclosures Soar – But They Also Fall
In 3Q, the number of U.S. foreclosures surged 67% year-to-year as homes exited forbearance and bans ended. But compared to “normal” 3Q 2019, they’re down 60%.
Jumbo Home Loans Near Pre-2008 Crisis Levels
Fewer buyers qualify for conventional mortgages due to higher prices and lower downpayments. As a result, the number of jumbo loans is at pre-Great-Recession levels.
Can’t Afford a Home? Co-buying Skyrockets
More roommates are committing to long-term relationships and co-buying a home. ATTOM says the number of co-buyers with different last names surged 771% in six years.
Buyer, 84, Fatally Shoots Agent Over Home Dispute
A Va. homebuyer bought a home sight unseen and wanted to “return the house.” He killed his real estate agent who went over to talk about it and, later, himself.
Lawmakers Consider Changes to Fla. Law After Surfside Tragedy
How can the state mitigate condo disasters following the tragedy in Surfside? A Fla. Bar task force pulled together experts and submitted its recommendations on Tues. In Sept., Realtors outlined the problems condo buyers face getting important docs, suggesting better records and tighter oversight.
Commercial Investors Worry About Possible 1031 Exchange Rules
The Biden Admin. wants a $500K limit for like-kind exchanges, which allow investors to defer taxes. If enacted, the change could have a big impact on commercial RE sales.
Fortify Finances Against Natural Disaster
It’s not enough to pack survival tools and photos when evacuating before a disaster. Pack cash too – or at least have credit that can help you cover the first few days.
Small Businesses Less Optimistic as Inflation, Labor Take Toll
Business is good, according to NFIB’s monthly study – but it would be better for small companies if they could get more workers and not worry about inflation.
Institutional Single-Family Rentals Have Come of Age
Before the Great Recession, mom-and-pop investors owned most single-family home rentals. But today, large institutional investors have turned it into a big business.
Soaring Home Prices Roiling Appraisals, Upending Sales
In Aug., 13% of appraisals came in below a home’s contract price. It was higher in May (19.7%), but is still up compared to sales early last year (7.3% in Jan. 2020).