How are you handling the many changes hitting the real estate industry? Some of the trends we saw in 2019 are shaping the year ahead. Let’s take a deep dive into the state of the market—from where it has been to where it’s going—so you can leverage the data to fine-tune your business strategy for 2020 and beyond.Market Trends: A Year in Review Currently, there are about 48 million residential units on the market, with 43% being multifamil
You know client retention is key for the future health of your business. While there’s always potential to turn buyers into repeat customers, the promise is even greater with sellers—many of whom will be in the market immediately to buy a new home. So, how can you make sure sellers will want to enlist your services for the next purchase transaction? Applying these six tips to your daily practices will help ensure your sellers return
Building owners and homeowner association boards aren’t legally required to disclose if a tenant tests positive for COVID-19, real estate attorneys say. But they say city laws are changing quickly and COVID-19 disclosure requirement disclosures could change too.Many landlords are reportedly telling tenants when a case of a COVID-19 infection surfaces in their buildings, even though they're not required to do so. Some are sending emails or a mem
Closets, energy efficiency, and laundry rooms appear to be home builders' top priorities in the single-family homes they're constructing this year.The National Association of Home Builders conducts a nationwide survey each year to find out what home features builders are most likely to include in a typical new home. The walk-in closet in the master bedroom was the most popular home feature builders cited, according to the survey. Energy-efficient
More homeowners are in search of mortgage relief due to the COVID-19 pandemic, and options like mortgage deferment and mortgage forbearance are becoming readily available to those in need.But “we are seeing the terms being used interchangeably,” Sara Singhas, director of loan administration for the Mortgage Bankers Association, told realtor.com®.Mortgage deferment and mortgage forbearance allow borrowers to temporarily stop making their mont
Borrowing costs inched down for the second consecutive week. The 30-year fixed-rate mortgage averaged 3.33%, Freddie Mac reports.“Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment,” says Sam Khater, Freddie Mac’s chief economist. “While the market has stabilized relative to prior weeks, home buyer demand has declined in response to current economic conditions. The
The number of homes for sale declined 15.7% annually in March, a housing report released Thursday by realtor.com® shows. However, the national median listing price was up 3.8% to $320,000 last month, and homes spent fewer days on the market in March as the pandemic prompted mass restrictions to be put in place across the country to try to stop the spread.Price growth did show some deceleration during the weeks ending March 21 and March 28 compar
The federal government’s stimulus package that's poised to provide aid to the economy and workers during the pandemic also extends unemployment benefits to those traditionally ineligible, including self-employed individuals and independent contractors— categories that many real estate professionals fall under.The National Association of REALTORS® has released an FAQ on unemployment assistance outlined under the Coronavirus Aid, Rel
The Department of Housing and Urban Development announced Thursday the Federal Housing Administration will offer a tailored set of mortgage relief options to those with FHA-insured mortgages who are being affected by the COVID-19 pandemic and who are unable to make their payments.Mortgage servicers may extend deferred or reduced payment options to FHA borrowers facing financial hardship for six months, and also extend options beyond that to an ad
Fifty-six percent of consumers in the United States and United Kingdom admit to being jealous of other people’s homes, according to a survey of more than 1,000 conducted by bathroom retailer QS Supplies. Millennials are the generation greenest with envy at 60.8% compared to 53.8% of Gen Xers and 37.9% of baby boomers. “More likely, millennials are moved to envy by the proliferation of social media,” researchers say.Overall, home size evoked
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