Freddie Mac announced a new partnership with a job-hunting firm called NextJob to provide employment search assistance to current and aspiring homeowners living in high-need or other poverty areas.The program will assist homeowners who have Freddie Mac Home Possible mortgages increase their re-employment prospects following a job loss, reduced hours, or other employment challenges that threaten their ability to make their mortgage payments. The p
If a REALTOR® violates the Code of Ethics, the local association could identify the offender to the membership, releasing his or her name, photo, and a description of what was done wrong. There is also an option for publication of every violation if they meet certain criteria.This policy change is based on a program the California Association of REALTORS® piloted for four years. During the pilot period, CAR found a marked decrease in ethics vio
The Federal Reserve voted Wednesday to raise interest rates for the second time this year and indicated that it will step up the pace of interest rate hikes if economic growth continues to boom. It changed its outlook to a total of four likely increases this year. Eight Fed policy makers said they expected four or more quarter-point rate increases for the full year.“The committee expects that further gradual increases in the target range for th
With home prices up in most markets, homeowners aren’t being shy about tapping into their newfound equity. Home equity lines of credit were up 18 percent in the first quarter, and up 14 percent from a year ago, according to ATTOM Data Solutions’ First Quarter U.S. Residential Property Loan Origination Report.“Putting home equity to work is the name of the game in the 2018 housing market,” says Daren Blomquist, senior vice president at ATT
Generation Z is still mostly comprised of kids, but analysts in the housing market are already expecting big things about this generation’s future appetite for real estate.Generation Z, born in 1997 and beyond, is a cohort of about 65 million to 75 million who are expected to start buying homes on a large scale within five to 10 years. The oldest members of Gen Z are in their early 20s. Millennials are currently the largest group of homebuyers.
Rising interest rates and the economy are the top two current issues to watch in real estate, according to the Counselors of Real Estate’s Top Ten Issues Affecting Real Estate 2018-2019, a list of the biggest threats to the housing market. For the first time, CRE broke its annual list down into current and longer-term issues to watch during the industry’s next year.Top Current Issues to Watch1. Interest rates and the economy: As interest ra
If your clients are looking for not just a new home but a new neighborhood, you can help them find the information they'll need to consider their decision. Along with the usual sources for statistics, consider pointing them to social media so they can learn about neighborhoods from the people who live there.Nextdoor specializes in connecting neighbors and providing a hyperlocal site for recommendations and news. While the site requests a local a
Millennials aren’t turned off by home improvement projects. They are more likely than any other generation to remodel any part of their home, according to a HomeAdvisor’s 2018 True Cost Survey. Millennials are twice as likely as baby boomers to complete bathroom and kitchen remodeling projects. They are also more likely to build a deck or porch and paint a home’s exterior than other generations too.Millennials, those born between 1980 an
Cities with the highest proportion of non–owner-occupied properties are most likely to be found in the South or West, according to a new analysis from the online lender LendingTree.“Southern cities may be attracting investors due to low prices and growing populations,” the report notes. Also, some “residents in Southern cities may not be able to access homeownership due to lower median salaries, creating a ready pool of renters.”The rep
Many homebuyers face a tough decision: To live in the city or commute from the suburbs. In some city centers, the cost of living is actually not as high as the outlying metro area, while in other cities homeowners will find more purchasing power in the metro area.SmartAsset, a personal financing resource, broke down the costs of commutes near major hubs to find the areas where it pays off the most to commute. The survey compared metro areas acros
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