What with the number of COVID-19 cases in the U.S. continuing to grow, medical professionals have voiced concerns that the nation could soon run out of hospital beds. And there are questions on how to quarantine patients so they don’t infect others too. Brandon Hardin, a research economist with the National Association of Realtors, has […]
Fannie Mae & Freddie Mac ease mortgage requirements
March 26, 2020 by Leave a Comment
Fannie Mae and Freddie Mac have been told by the Federal Housing Finance Agency to come up with alternatives to appraisal requirements and employment verification on loans they service through May 17, in response to the COVID-19 shutdown. “To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges […]
The U.S. shuts down, but home selling goes on
March 25, 2020 by
Even as COVID-19 forces mass closures across the United States, home selling is still happening. That’s according to Redfin, which says real estate professionals have quickly adapted to working from home. Redfin said it saw a 494% increase in requests for agent-led video tours last week, following an 80% increase the week before. Most of […]
Report: iBuyers shut up shop as coronavirus fight continues
March 24, 2020 by
Some of America’s biggest iBuyers – or companies that make instant cash offers on people’s homes – are said to be suspending their services due to the coronavirus outbreak. The companies include Opendoor, the largest iBuyer in the U.S., as well as the iBuying businesses of brokerages such as Redfin and Realogy. Realogy said it […]
NAR: Strong home sales in Feb give cause for optimism
March 23, 2020 by
Although the U.S. is gripped by the cornonavirus outbreak, there was some good news for the real estate industry as existing home sales performed better than expected, with three out of four regions showing an increase in sales, according to National Association of Realtors’ data. The NAR said total existing home sales, which includes single-family, […]
How to keep your gadgets clean from the coronavirus
March 20, 2020 by
Your smartphone, your laptop, and even your car could all potentially be carrying germs from the coronavirus. As such, it’s important for us to regularly disinfect any areas that are frequently touched in order to avoid spreading the virus. For real estate professionals that means paying careful attention, not just to our gadgets but other […]
Trump announces moratorium on foreclosures due to coronavirus
March 20, 2020 by
U.S. President Donald Trump announced Wednesday a full moratorium on foreclosures for homeowners with mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration. The Department of Housing and Urban Development has also provided help, saying it will suspend all evictions of public housing residents. It’s said that FHA loans and public housing […]
Virtual tours catch on as Coronavirus outbreak spreads
March 19, 2020 by
Real estate professionals are increasingly opting for virtual tours to show off their listings as the coronavirus outbreak continues to cause fear in the U.S. The move comes as Leonard Steinberg, chief evangelist and corporate broker at Compass, called for a two-week moratorium on in-person home showings. Meanwhile, Redfin’s CEO Glenn Kelman has said his […]
U.S. Federal Reserve slashes rates to zero to fight coronavirus outbreak
March 17, 2020 by
The Federal Reserve at an emergency meeting on Sunday announced it’s slashing its benchmark interest rate to zero, in what is its second response to the economic turmoil that’s resulted from the coronavirus outbreak. In addition, the Fed announced it will buy $700 million worth of Treasury and mortgage bonds to help stabilize markets. The […]
How to recession-proof your real estate business in the coronavirus outbreak
March 17, 2020 by
Economic activity across the world has come to a shuddering halt due to the coronavirus outbreak. Stock markets have plummeted, while conferences, dining, lodging and travel are all being cut back or canceled altogether. The crisis may cause real estate professionals to start making plans in case the outbreak leads to a slowdown in home […]
