Top 5 REALTOR® Updates | Week of October 19th
Check out these five real estate updates to help you stay in-the-know with the latest happenings in our industry.
1. Stop the Housing Tax for Transportation | NAR Call to Action
Congress is considering a proposal that would create a tax on all potential homeowners and consumers looking to purchase or refinance a mortgage. By increasing Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs, Congress would disturb the housing recovery. Now is not the time to raise the cost to purchase or refinance a home. NAR strongly believes that taxing homeowners to pay for transportation programs places an unnecessary long-term burden on consumers and this action will disproportionately impact low and moderate income borrowers, as well as first-time homebuyers. Read More...
2. Home Affordability Shows Some Improvement
Good news for buyers: It’s getting easier to afford to buy a home. The median price of a single-family home inched lower in August, the latest data available, while median family income edged slightly higher, according to the National Association of REALTORS®’ Housing Affordability Index. That, combined with still-low mortgage rates, prompted NAR’s affordability index to rise to its highest level since May. (The higher the number, the better indication of affordability.) NAR’s Housing Affordability Index was 157.7 in August, up from 154.5 in July. However, the index is down from one year ago, when it was 160.2. Read More...
3. 3 Trends Set To Impact Real Estate
The real estate business is going to be shaken up by a changing mindset on how consumers want to live, work, and even drive. The Urban Land Institute recently brought together a group of technology and real estate thought leaders who shared what innovations they think will have the most impact on the real estate business in the coming years. The key takeaway: consumers and businesses are looking for ways to make real estate more efficient, more adaptable, and easier to share. Read More...
4. 5 Cool Home Features That Can Deter Buyers
Several amenities that often are viewed as favorites by home by owners may actually make the home more difficult to sell. Realtor.com® recently highlighted a few “awesome features” that surprisingly can limit your buyer pool. Such as: nearby retail. Some buyers will be drawn to restaurants and bars within walking distance as well as easy access to major thoroughfares. But unless the area is mostly urban, sellers may find it a more difficult sale since not everyone wants to live near a busy street. “Homes that are on busy streets command less value than interior homes,” says Bob Ripp, a real estate appraiser in Fort Collins, Colo. Read More...
5. Meat-Eaters Will Pay a Premium Here
A landlord in Bothell, Wash., wants to know what you eat before you rent. He’s offering a discount on his townhome to those who pledge to be a vegetarian or vegan. Jinesh Varia is offering vegetarians or vegans who rent his three-bedroom, 1,566-square-foot townhome a $200 discount on the $2,200 monthly rent. They must pledge not to eat meat to be eligible for the discount. “I really believe, just like the ‘no smoking’ policy that all landlords have today, that we can promote this as a way to spread awareness,” says Varia. “I want to see if I can create a trend.” Read More...
