In a two-year analysis, homes on a mid-Atlantic MLS sold for more money than similar homes that sold off of it. Bright MLS, a multiple listing service that supports more than 95,000 real estate professionals from Pennsylvania to Virginia, conducted the study of 442,829 records for home sales transactions completed between January 2019 and December 2020.The median sold on the MLS was about 17% higher than...
Consumers rated mortgage servicers’ customer service higher during the pandemic. Much of that satisfaction, however, is driven by non-bank servicers, which offer more digital solutions for consumers. Traditional banks are starting to lose their edge over non-bank lenders, according to the J.D. Power Mortgage Servicer Satisfaction Study.Bank-affiliated services have historically outperformed non-banks by...
Golf communities had seen a decline in demand over recent years, with several neighborhoods removing or repurposing them. But amid the pandemic, the popularity of golf communities has rebounded, with wait lists and rapidly rising home prices. “It went from famine to feast,” Jason Becker, CEO and co-founder of Golf Live Navigators in South Florida, told The Escape Home, a newsletter published by...
Borrowers can still take advantage of some of the lowest mortgage rates of all time. For the fifth consecutive week, the 30-year fixed-rate mortgage has remained below 3%. Also, the 15-year fixed-rate mortgage averaged 2.10% this week, an all-time low, Freddie Mac reported.“As the economy works to get back to its pre-pandemic self, the fight against COVID-19 variants unfolds, owners and buyers continue...
Investors are snatching up homes and are being blamed for contributing to the inventory shortages in several markets across the country. Investors are buying homes and then holding on to the properties, often turning them into rentals, and not returning very many homes back onto the market from their growing portfolios. Housing experts say that in some markets it's exacerbating housing shortages. Investors...
Borrowers with Paycheck Protection Program (PPP) loans of $150,000 or less—financial aid for businesses stemming from pandemic-related distress—may be able to apply for forgiveness directly through the Small Business Administration’s new portal.The SBA is launching a new application portal to streamline forgiveness requests: Directforgiveness.sba.gov. The platform will begin accepting applications...
More potential home buyers may be getting priced out of the housing market as home prices continue to rise. Pending home sales declined in June, another sign that the housing market may be slightly cooling. The National Association of REALTORS®’ Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—edged down by nearly 2% in June and also was down by 2%...
Three in 10 home sellers say they’ve used a hidden camera during an open house or showing at their home, according to a new LendingTree study of more than 2,000 consumers.The most common reason, cited by nearly half of those who provided reasons, is to understand what home buyers do and don’t like about the homes. Thirty-six percent of those respondents said they wanted to use the camera to gather the...
Update: The headline of this story was updated on the evening of July 30 after the House of Representatives dropped efforts to extend the national eviction moratorium. The moratorium will expire on July 31, though moratoriums remain in effect in many states and localities. The National Association of REALTORS® has opposed extending the moratorium. In a note to volunteer leaders, NAR Chief Advocacy...