Supply of homes for sale was down 24% from a year ago in April and new listings fell by 42%, but home prices were still up 5% The effects of the coronavirus pandemic and subsequent shutdowns hit the housing market
What You Need to Know About Cleveland Real Estate During COVID-19
The US housing market has gone through many changes during this COVID-19 pandemic. Homebuyers all over the country are wondering how Coronavirus may impact the homebuying process in their local market. As we enter the homebuying and selling season we
House Hunters’ Hunger for Small Towns Continues to Soar—Even as Interest in Big Cities Begins to Recover
Pageviews of houses in small towns are surging amid the coronavirus pandemic, while big cities are staging a more modest comeback. A remote home in the woods in a tiny Illinois village 67 miles southwest of Chicago was one of
Charting the Coronavirus Pandemic’s Latest Impact on the Housing Market
As states start to relax stay-at-home restrictions amid the coronavirus pandemic, more Americans are putting their homes up for sale—and setting higher expectations for what their houses are worth. But supply has yet to catch up to homebuying demand, which
15 Factors That Influence Your Home’s Resale Value
Whether you’re looking to purchase or sell a home, not all properties are created equal, and not all retain good resale value. Meaning when the time comes to sell your home, you may receive fewer offers, offers under your asking
Post-Pandemic Migration from Expensive Cities Likely As 1 in 4 Newly Remote Employees Expect Work-From-Home to Continue
Survey shows more than 50% of people in New York, Seattle, San Francisco and Boston would move if work-from-home became permanent. The sudden shift to remote work, brought on by the coronavirus shutdowns will accelerate a major migration away from
Home Office Ideas: 6 Unique Spaces You Can Transform into a Home Office
Working from home has become the new norm, and will likely become more commonplace in the near future. This has made having a home office more necessary and desired than ever before. If your home doesn’t have a designated room
Diary of a Pandemic, Part 2: Sell, Sell, Sell
This is the second part of an account I wrote as Redfin’s CEO about what it has been like to run a publicly traded company hit hard by the pandemic. This part discusses how, as the crisis deepened, we scrambled
Diary of a Pandemic, Part 3: The Furlough (And the Un-Furlough)
This is the third and final part of an account I wrote as Redfin’s CEO about what it has been like to run a publicly traded company hit hard by the pandemic. This part is about how a furlough and
Home-Buying Demand Passes Pre-Coronavirus Levels; Inventory Down 24%
Just the Facts: Four Key Housing Market Takeaways for This Week Home-buying demand has come roaring back, now 5.5% higher than it was pre-pandemic New listings have increased every week for the past four weeks, but can’t keep up with
Refi boom fuels hiring by mortgage firms during the downturn
At a time when unemployment levels are rising to heights not seen since the Great Depression, the mortgage industry is among the relatively few sectors outside of the frontline workforce that is actively seeking out new employees. “We’re hiring and
Fannie Mae and Freddie Mac head for the exit as COVID-19 rages
In the midst of the sharpest economic drop since the Great Depression, prompted by the COVID-19 pandemic, Fannie Mae and Freddie Mac said they are looking for financial advisors to underwrite what is likely to be the largest public share
[PULSE] Lending in a new world: How to navigate this changing landscape
The lending world is undoubtedly one of the most complex and ever-changing environments within the financial hub. As loan originators, we are required to not only stay abreast of market changes but to also understand them enough to convey this
Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage
The most recent data shows that there are approximately 4.1 million borrowers in forbearance on their mortgage, but a lack of clarity in the wording of the CARES Act was leaving many of those borrowers unable to take advantage of
Housing starts plummet to a five-year low
Housing starts plummeted to a five-year low in April as builders paused activity amid the COVID-19 pandemic. Starts on both multifamily and single-family units dropped 30%, the biggest monthly decline in six decades of records, to a seasonally adjusted annual
Has the mortgage forbearance curve flattened?
It’s been nearly two months since the number of borrowers who need forbearance on their mortgage began spiking due to coronavirus shutdowns, but it looks like the forbearance curve may be flattening. New data from the Mortgage Bankers Association shows
Who’s on the hook when money disappears due to wire fraud?
Wire fraud is a source of significant harm to financial institutions, with an estimated $1.77 billion stolen in 2019, according to the FBI. For mortgage companies, the vulnerabilities surrounding the closing table constitute an especially big risk. Excited and anxious
Monster Loans ordered to repay $18 million to cheated customers, but many won’t get their money back
Monster Loans, a California mortgage company that uses the tagline “So easy…it’s scary,” was allegedly the front for a complex scheme that illegally pedaled student debt relief services to millions of people whose information was unlawfully obtained from Experian, the
Fraudulent rental applications have spiked during pandemic
Rental application fraud has risen 9% month over month since COVID-19 hit, according to a report from real estate tech company Snappt. Snappt surveyed 100 residential property managers who manage more than 1,000 units and found that 66% had been
Mortgage refinancings set to surge to a 17-year high
If you’re in the mortgage business, fasten your seatbelts. Refinance volume is set to spike to a 17-year high this year as mortgage rates fall to the lowest levels ever recorded, Fannie Mae said. Even as other parts of the
20 Qualities That Make A Good Real Estate Agent
Lots of people are attracted to a career in real estate — but is it the right future path for you? The thing about selling real estate is that not anybody can do it, but everybody thinks they can. There are some specific skill sets that the best agents in the business tend to have in common, and if you want to be successful, then you want to either already have or be able to cultivate these skills.
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Reasons Covid-19 Won’t Crash the Real Estate Market
The coronavirus has reached a pandemic stage in the world. Data changes daily. Our “front line” workers in the medical field, essential retail, and first responders are to be commended. The rest of us need to adhere to government mandates, washing our hands frequently, social distancing – and being available to listen to those who […]
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5 Essential Financial Steps to Take Before Investing in Real Estate
If you’ve been thinking about investing in real estate, getting your finances in order before you start searching for properties and scheduling appointments will save you from money headaches in the long run.
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Does the brokerage matter when selling your house?
Anyone who’s bought or sold a house before is already aware that the right agent can make a big difference in your experience. But what about the brokerage where the agent is affiliated — does the brokerage involved in your home transaction really affect you as a consumer?
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