Tue.Mar 09, 2021

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Mortgage credit, and the coming purchase storm

Housing Wire

Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index remained unchanged at 124.6 last month, still hovering near levels previously seen in 2014.

Mortgage 471
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Rookie Podcast 59: Rookie First-Time Home Buyer Questions Answered by Scott and Mindy

BiggerPockets

Starting out as a rookie investor means you most likely have a lot of questions that need to be answered before you dive in and buy your first home! Whether […].

Buyers 69
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Equity jumps for Black homeowners, but problems remain

Housing Wire

As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021. That $59,000 gain represents a median home equity increase of 197%.

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Is That Neighborhood Up-and-Coming? Here’s How to Tell

BiggerPockets

Picking a good neighborhood is as important as choosing the right house. Here's how to identify an up-and-coming area—and why "bad" isn't always, well, bad.

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Are you ready to be the Amazon of real estate?

Housing Wire

Imagine requesting an Uber and not being able to see a map view of where the driver is located in real time; ordering food from DoorDash without up-to-date digital menus from an endless number of restaurants; or buying an item with Amazon Prime and having to pay close attention to the delivery estimates. When we look at industries that have undergone significant change, it is easy to take for granted the success stories of market leaders and miss the seemingly small inventions that radically cha

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The Right Way to Raise Your Tenants’ Rent (Plus: Sample Rent Increase Notice)

BiggerPockets

A rent increase can be painful for the tenant—but they help landlords keep up with rising costs. Here are some expert-approved strategies to raise the rent.

Tenants 70

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What Famous Literary Home Would You Want to Appraise?

McKissock

Home of Louisa May Alcott, Concord, Massachusetts. Appraising specialty or niche properties—like commercial properties, luxury homes , historic homes, etc.—can be both enjoyable and profitable. With the help of our appraisal community, in the past we’ve had fun exploring questions such as, “What sports stadium would you like to appraise?

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REX Takes On Zillow and National Association of Realtors’ Cartel In Antitrust Filing On Behalf Of American Consumers

REX Real Estate

REX’s complaint and preliminary injunction seeks relief from NAR and MLS cartel rules meant…

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The purchase market is an opportunity for the title industry

Housing Wire

Prognosticators are already suggesting the mortgage market has recently “peaked.” That’s based, primarily, on total origination volume and may or may not account for seasonality. No matter. Most agree that in 2021, we will not match the astronomical origination volume seen in 2020. If the past two decades are any indication, the impending purchase-dominated market will bring discussion of softening margins and higher expenses.

Marketing 433
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In-House vs. 3rd-Party On-Site Property Managers: Which Is Best for Your CRE?

The Robert Weiler Company

When it comes to property management – and property management companies – a great debate rages on. In some sense, it’s a debate that is as old as the commercial real estate industry itself; a profession that got its unofficial start in the 19th century. (Consider that it was only a few short decades after Founding Father, elder statesman, and successful businessman Benjamin Franklin passed into history.

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HUD settles with JPMorgan over appraisal bias case

Housing Wire

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race. Under the conciliation agreement , JPMorgan will pay the homeowner, a Black woman, $50,000.

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What is an Accessory Dwelling Unit?

Eppraisal

The circumstances of life have ways of upending our comfortable routines. Medical emergencies, financial setbacks, legal challenges, family dramas and political reversals -- not to mention fires and floods -- each and all can interrupt our ordered existence with new demands. The COVID-19 pandemic is one such shocker, forcing many to work from home. Aging parents or relatives down on their luck also force homeowners to make hard decisions about how to utilize their properties.