article thumbnail

Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I

article thumbnail

What is portfolio cleansing?

Housing Wire

This can cause problems for servicers in instances where loans are acquired with unknown, pre-existing property tax delinquencies missed in the due diligence phase. The challenge for the portfolio buyer is to identify the “high-risk” loans at the time of the ownership change so they can mitigate these operating risks.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 strategies to get more from your MLS searches

Housing Wire

Real estate agents and brokers , are you relying solely on that buyer drip you set up for your motivated and qualified clients? Today we’ll show you how to deploy 6 creative ways to get more from your searches so you can get those buyers in contract faster. Are your buyers being more proactive than you are?

article thumbnail

Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

Asian borrowers pay $13 less than non-Hispanic white borrowers (the control group); low-income borrowers pay $14 more; and first-time home buyers pay $11 less than repeat buyers. Missing the forest for the fees Seeking to reduce the barriers to entry for low- and moderate-income and non-white home buyers is a worthwhile endeavor.

Insurance 427
article thumbnail

Opinion: Local MLS broker marketplaces, rules equitably advance American homeownership

Housing Wire

Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. Listing brokers make offers of compensation to buyer brokers who bring a buyer to the table. And if those same consumers had to go it alone without buyer representation?

article thumbnail

How to Appeal Your Property Taxes in King County

Will Springer Realtor

Property owners across the region should, by now, have received the tax notice to pay 50% of the levy by each due date – May 1 and Oct. Residential property is assessed each year at its full market value, which is defined as the amount a buyer, willing but not obligated to buy, would pay to a seller willing but not obligated to sell.

article thumbnail

Why CAR campaigned for California’s Proposition 19

Housing Wire

The bill is expected to add $2 billion to California’s coffers annually, and homeowners with disabilities, seniors looking to move for health reasons, and empty nesters looking to downsize could receive property tax breaks when buying a new home, CAR officials said. The state’s going to make a lot of money.”.