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Is Break in Rate Hikes Significant to Buyers?

NAR Daily Real Estate News - June 8, 2018 - 12:00am

Mortgage rates fell for the second consecutive week, but it may not offer much reprieve for borrowers who are struggling to keep up with higher...

Categories: Real Estate News

Flips Hit 6-Year High, But Market Tightens

NAR Daily Real Estate News - June 8, 2018 - 12:00am

More investors are looking to capitalize on the run-up in home prices, but increasing homebuying costs could eat into their profits.

Categories: Real Estate News

Global Effort to Curb Chinese Investment

NAR Daily Real Estate News - June 8, 2018 - 12:00am

Chinese buyers have been purchasing property worldwide at breakneck speed, causing home prices to surge and igniting fears of real estate bubbles...

Categories: Real Estate News

Cities Weigh Subsidized Housing for Teachers

NAR Daily Real Estate News - June 8, 2018 - 12:00am

School strikes are spreading across the country as educators complain of low salaries that make it difficult for them to afford a home or pay rent...

Categories: Real Estate News

Builders Face ‘Cluster Mailbox’ Requirements

NAR Daily Real Estate News - June 8, 2018 - 12:00am

The U.S. Postal Service has been attempting to reduce or eliminate sidewalk and curbside delivery to single-family homes, and the new construction...

Categories: Real Estate News

How to Capture ‘Serial Switchers’

NAR Daily Real Estate News - June 8, 2018 - 12:00am

Only 12 percent of homeowners use the same agent the next time they buy or sell. Learn one key strategy for retaining clients.

Categories: Real Estate News

Homeowner Equity Growth Streak Continues

NAR Daily Real Estate News - June 7, 2018 - 12:00am

Homeowners are seeing some of the strongest growth in equity in four years, with Western states leading the pack.

Categories: Real Estate News

3 Tenant Screening Checks Landlords Fail to Do

NAR Daily Real Estate News - June 7, 2018 - 12:00am

A new report finds that landlords are failing to gather critical documentation that could help them avoid approving tenants who later will default...

Categories: Real Estate News

Fannie Makes Manufactured Housing Loans Cheaper

NAR Daily Real Estate News - June 7, 2018 - 12:00am

Fannie Mae is using its MH Advantage Program to try to bridge the gap in affordable housing by making manufactured housing a more acceptable...

Categories: Real Estate News

The States With Surging Home Loan Growth

NAR Daily Real Estate News - June 7, 2018 - 12:00am

Experian identifies the states with the strongest and weakest activity in the home mortgage sector.

Categories: Real Estate News

Security Report Urges You to Reset Your Router

NAR Daily Real Estate News - June 7, 2018 - 12:00am

Safeguard your home network, particularly if you ever use it for your work.

Categories: Real Estate News

Summarize Emails First for Client Action

NAR Daily Real Estate News - June 7, 2018 - 12:00am

By putting a concise note at the top of your emails listing highlights and requesting action, you'll encourage clients to respond more quickly...

Categories: Real Estate News

Real Estate Competition Fierce, Experts Say

NAR Daily Real Estate News - June 6, 2018 - 12:00am

The Federal Trade Commission and the Department of Justice heard from a variety of sources Tuesday that nontraditional...

Categories: Real Estate News

‘Low Price’ Homes Appreciating Fastest

NAR Daily Real Estate News - June 6, 2018 - 12:00am

Gains for lower-priced homes are seeing significantly higher increases than more expensive homes, a new report shows.

Categories: Real Estate News

4 Issues Prompting Settlement Delays

NAR Daily Real Estate News - June 6, 2018 - 12:00am

The majority of contracts settled on time in April, but for the 17 percent that saw a delay, here’s what was to blame.

Categories: Real Estate News

With Rentals, Concessions Becoming the Norm

NAR Daily Real Estate News - June 6, 2018 - 12:00am

Many markets are being saturated with new apartment buildings, and developers are now finding they need to offer incentives to tenants in order to...

Categories: Real Estate News

Loan Demand Surges on Lower Rates

NAR Daily Real Estate News - June 6, 2018 - 12:00am

Mortgage applications reversed course as homeowners and home purchasers took advantage of the lowest rates in six weeks.

Categories: Real Estate News

Lava Destroys Hundreds of Homes in Hawaii

NAR Daily Real Estate News - June 6, 2018 - 12:00am

A magnitude 5.5 earthquake shook the island Tuesday night, reportedly causing ash to spew a mile into the air.

Categories: Real Estate News

June Is National Homeownership Month

RisMedia Consumer Advice - June 5, 2018 - 4:28pm

June is National Homeownership Month, and the industry is recognizing the importance of homeownership as a milestone of the American Dream.

This year’s theme, set by the Department of Housing and Urban Development (HUD), is “Find Your Place.” HUD is one of many agencies that provide resources to help consumers obtain and sustain homeownership. Through its network of housing agencies, consumers can seek out counselors for homeowner education, foreclosure prevention and budgeting assistance. With mortgage options through the Federal Housing Administration (FHA), consumers with low credit or low-down payment funds can reach their homeownership goals faster—a significant method of aid for millennials and upcoming buyer generations flooded with student loans, making it difficult to amass the funds needed for conventional financing. According to HUD, over 47 million homeowners since 1934 purchased a home with a mortgage insured by FHA, and around 40 percent of all borrowers purchase their first home using an FHA loan.

“Homeownership serves as an enduring symbol of security and prosperity, and it provides many Americans with a legacy they can pass down to their children and grandchildren,” said HUD Secretary Ben Carson in a statement. “During National Homeownership Month, we recognize the abiding value of owning a home, and we rededicate ourselves toward helping hard-working families to find their place in the American dream.”

Although homeownership rates are currently stalled at 64.2 percent, experts say the lack of dramatic increase is a reflection of a market that is withstanding challenges such as low inventory and rising interest rates. While the number has not moved much since the first quarter of 2017, there have been gradual increases since 2016, following a significant drop after the housing crisis.

While the National Association of REALTORS® (NAR) celebrates its commitment to homeownership year-round through resources provided on its Homeownership Matters and HouseLogic sites, NAR President Elizabeth Mendenhall recognized June as a pivotal time to reaffirm the association’s mission to promote homeownership.

“National Homeownership Month is a time to celebrate and promote the modern American Dream of owning a home,” said Mendenhall in a statement. “Homeownership changes lives and enhances futures, and many Americans see it as one of their greatest hopes. These individuals are counting on the nation’s 1.3 million REALTORS® to champion and protect homeownership and help make it more affordable, attainable and sustainable. REALTORS® pledge to continue to lead efforts to ensure that the dream of homeownership is not only possible, but very real, for any and all who want to achieve it, so they can have a place of their own to make memories, start growing their financial futures, and build strong communities.”

In addition, Freddie Mac’s website for National Homeownership Month provides valuable resources for homeowners, such as educational articles, homeownership program statistics and opportunities consumers can take advantage of in order to make their homeownership dream a reality.

According to the National Association of Home Builders (NAHB), primary residences are ahead of all other financial assets, business interests and retirement accounts, accounting for nearly one-quarter of all assets held by households in 2016, as reported in the latest edition of the Federal Reserve’s Survey of Consumer Finances.

“Homeownership is a primary source of net worth for many Americans, and is an important step in accumulating personal financial assets over the long term,” said Randy Noel, chairman of the NAHB, in an interview on NAHBNow.

In recognition of National Homeownership Month, NAHB is making a toolkit available for its members; the toolkit includes a video on the value of homeownership, sample social media posts, radio scripts and other talking points, relevant articles, and even print ads showcasing the benefits of homeownership.

Citing the passing of the Economic Growth, Regulatory Relief and Consumer Protection Act and this past year’s tax reform bill as recent progress, President Donald Trump released a statement pledging the administration’s commitment toward increasing homeownership incentives across the country:

“During National Homeownership Month, we affirm the joy and benefits of homeownership. For millions of Americans, owning a home is an important step toward financial security and achieving the American Dream. My Administration is committed to fostering an economic environment in which every family has the opportunity to enjoy the sense of pride and stability that can come with owning a home.”

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post June Is National Homeownership Month appeared first on RISMedia.

Categories: Real Estate News

‘Hypervacancy’ Reaches ‘Epidemic Levels’

NAR Daily Real Estate News - June 5, 2018 - 12:00am

Many formerly industrial cities are grappling with a glut of large, vacant buildings—some stretching across entire blocks of neighborhoods,...

Categories: Real Estate News