A federal court last week ruled there’s nothing anti-competitive about a REALTOR® association–owned MLS requiring association membership as a condition of MLS access. The decision was a big win for REALTORS®, says Ralph Holmen, deputy general counsel at the National Association of REALTORS®. “This decision upholds the notion that it’s reasonable to limit MLS participation to members of the association that own and operate the MLS,” H
Success is a winding path no matter what phase of life you’re in, but reaching great heights before the age of 30 is a feat worthy of recognition.The more than 300 young real estate professionals who applied to become part of the 2018 class of 30 Under 30 have put their hearts and souls into their careers, which is why it’s no easy task to narrow the field down to the final group of honorees. Their dedication to improving the industry and he
If your investors are in search of higher profits, they may want to look to Baltimore; Macon, Ga.; Montgomery, Ala.; Detroit; and Atlanta. These metros each boast counties that have some of the highest potential for single-family rental returns in 2018, according to a new analysis by ATTOM Data Solutions. The real estate data firm’s Q1 2018 Single-Family Rental Market report ranks the top U.S. markets for purchasing single-family rental propert
In some markets, home buyers are bringing down payments to the closing table that are larger than the 20 percent industry benchmark. For example, in San Jose, Calif., buyers are putting down an average 23.9 percent of the sale price of a home.Realtor.com® analyzed mortgage data to identify the average down payment in each of the 50 largest U.S. metros. The markets with the highest down payments tended to be in the areas where homes also cost the
Though consumers are optimistic about the economy and their own personal financial situations, more are expressing anxiety about their ability to buy a home, save for a down payment, and qualify for a mortgage, according to the National Association of REALTORS®’ Housing Opportunities and Market Experience (HOME) survey for the first quarter of 2018.The share of consumers who are confident about buying a home edged down to 68 percent in the l
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Home buyers and sellers are making it to settlement at a faster rate. The average time to close on all loans dropped by two days in February to 42 days, according to Ellie Mae’s Origination Insight Report. Ellie Mae economists are calling the drop “significant.”For just purchase loans, the time to close dropped from 47 days to 45 days last month, according to the report.The drop in average closing times is mostly due to a decrease in the o
After last week’s first rate drop of the year, mortgage rates showed little change this week—a welcome sign for the week’s kickoff to the spring home shopping season.But home buyers and borrowers should expect several rate increases over the next few months, economists caution.“The Federal Reserve raised interest rates [this week]—a much-anticipated move that comes as both U.S. and global economic fundamentals continue to strengthen,”
More millennials are bypassing high-priced coastal markets in favor of the Rust Belt and Midwest, shows a new analysis by LendingTree, an online loan marketplace.The report shows that millennials in Pittsburgh, Des Moines, Iowa, and Buffalo, N.Y., are pursuing homeownership more than their counterparts in any of the nation’s 100 largest cities. LendingTree analyzed mortgage requests and offers of borrowers ages 35 years old and under between Fe
The Thomas Fires, the largest wildfire in California’s modern history, ignited late last year and blazed throughout Southern California for more than a month, leaving hundreds of homes and buildings in ash. Real estate professionals who lived near the affected areas have been quick to respond to families who are still struggling to rebuild.The magazine for the Ventura County Coastal Association of REALTORS® recently featured several stories of
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