High demand for appraisals is delaying the underwriting process



Home appraisers are struggling to keep up with a sudden surge in home buying and refinancing. As a result, turnaround times for appraisals are increasing, causing delays in the underwriting process, HousingWire reported this week. HousingWire said a survey of lenders showed that many are being quoted two to three weeks for an appraisal, which […]

Tenant groups become increasingly militant to prevent evictions



With moratoriums on evictions throughout the country starting to expire, tenant groups are stepping in to try and save people from losing their homes. Tenant organizers in South Central Los Angeles last week quickly organized a protest after a local landlord removed one resident’s belongings following their eviction. The landlord had changed the locks on […]

New York can now revoke licenses from real estate pros that discriminate



New York Governor Andrew Cuomo on Monday signed into law new legislation that makes it possible for the state to revoke real estate licenses from agents and brokers who violate anti-discrimination laws. Cuomo said New York has “zero tolerance” for discrimination of any kind and that the “sheer scope and breadth of the unscrupulous and […]

Redfin says 45% of home offers this year made ‘sight-unseen’



Buyers feel more comfortable shopping for homes online thanks to innovations such as virtual tours, and growing numbers are even making an offer on a home without seeing it in person. Redfin said last week that the trend of “sight unseen” offers is reaching record highs, with 45% of buyers who purchased a home in […]

Renters are moving towards the suburbs, Zillow says



While the for-sale market has shaken off the early impact of the coronavirus pandemic and resumed its torrid pre-pandemic pace, rent growth hit the brakes this spring. Rent prices in urban areas have slowed more than those in suburban areas, new Zillow data shows, a possible signal that renters’ preferred location is tilting toward the […]

Downsides of Flat Fee MLS or Entry Only



What Are The Cons of Flat Fee MLS? When things in life seem too good to be true, they usually are precisely that. In real estate, the perfect example is flat fee MLS. Selling your home is a costly experience, so any way of saving money should be jumped at, right? A flat fee MLS […]

Buyers are sweetening the deal by waiving contingencies



With home buyers facing tougher competition this year amid ongoing housing shortages, some are trying to gain an edge by waiving contingencies to make their offers look more enticing. Redfin said this week that almost 20% of successful offers submitted by its agents in June in select U.S. markets waived the inspection contingency, compared to […]

Listing prices hit record high in July



The ongoing coronavirus pandemic has done little to stem interest in the housing market. Home prices across the U.S. continue to accelerate, and last month they moved into uncharted territory as the national median listing price reached $349,000 in July – a record high. That’s according to Realtor.com’s latest Monthly Housing Trends report, which noted […]

Fed votes to keep interest rates at near zero again



The Federal Reserve this week voted to keep its benchmark interest rate at close to zero. The move should help ensure the cost of home loans remains down, long enough for the economy to begin its recovery from the COVID-19 pandemic, experts said. The Fed also said it’s extending its credit and lending initiatives until […]

Record number of home buyers consider out-of-town moves



Americans are increasingly looking at moving away from major urban centers to smaller cities and towns that offer more accessible outdoor spaces, according to a new analysis by Redfin Redfin found that a record 27.4% of its online visitors were looking to move to another metro in the second quarter of this year, up from […]