National News

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Fannie, Freddie will not update credit score models in 2018

The Federal Housing Finance Agency (FHFA), which acts as the chief regulatory authority for government-sponsored mortgage finance firms Fannie Mae and Freddie Mac, announced it was no longer pursuing an effort to update the credit scoring models used to

Study: How teams impact real estate brokerages

About 80 percent of real estate executives agree that teams have facilitated growth in their brokerage’s business over the last five years, according to new research from an Imprev Thought Leader Study. Teams are becoming increasingly popular and encouraged, with

Existing-home sales down in June despite inventory gains

Existing-home sales fell in June for the third straight month, according to the latest report from the National Association of Realtors. Completed transactions on single-family homes, condominiums, townhomes and co-ops fell 0.6 percent to a seasonally adjusted annual rate

Overstock.com enters real estate market with new management site

Overstock.com is breaking into the real estate market with the upcoming launch of O Real Estate, its new property management site. Overstock purchased Houserie in February, establishing a foundation for their overall goal: to be a one-stop real estate

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Real Estate News in Brief: NAR supports 21st Century Internet Act, $43 million HUD grant to combat youth homelessness and more

Last week, the National Association of Realtors shared its support for the 21st Century Internet Act introduced by Rep. Mike Coffman. The act seeks to take net neutrality out of the hands of the Federal Communications Commission (FCC) and

Homeownership with no mortgage is a goal for future retirees

Alongside travel and leisure, a recent study by Voya Financial identified homeownership as one of the most important goals that people wish to achieve by the time of their retirement, reported HousingWire. In fact, 80 percent said they wish to

The reasons why millennials don’t own a home

Millennials have turned out to be the largest generation in history, but surprisingly, they make up the smallest percentage of U.S. homeowners among all generations. Although most millennials, those ages 18 to 34, have reached their peak homebuying years,

Mortgage rates are falling. Here’s what that means for agents

A consensus among mortgage industry leaders heading into 2018 was that interest rates would rise. The Mortgage Bankers Association predicted that interest rates could hit 5 percent by the end of the year. And while mortgage interest rates have

More young adults choosing to live with roommates, parents

For young adults, owning a home can be a daunting and expensive task. As a result, it is common for most young adults to take place in house sharing, which is an easy way to save money. It’s so common

Redfin looks to raise $239 million through stock, debt offerings

Redfin announced this week that it will be looking to raise up to $239 million through a combination of stock and debt offerings. According to a filing made with the U.S. Securities and Exchange Commission, Redfin said that it

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NAR records lowest-ever rate of FSBO sales in 2017

For-sale-by-owner (FSBO) listings tracked by the National Association of Realtors comprised only 8 percent of all home sales in 2017, the lowest rate since NAR began tracking the figure in 1981. FSBO sales as a percentage of all residential

Online home value estimates: 6 things every agent needs to know

Online, automated home value estimates continue to shake up the industry, and they are only going to have a bigger role in the home buying and selling process as technology improves. Though the new tool might cause headaches for

The number of families with children homeowners dropped by 3.6 million

As home prices continue to grow across the country, the ability to own a home can become out of reach for many. According to a new report by RENTCafe, the amount of families with minor children who own a

US housing data shows signs of market shift

A combination of findings detailed in recent housing market reports in major metropolitan markets, as well as nationally, has some analysts predicting more favorable conditions for buyers in the coming months. Jeff Lazerson, president of MortgageGrader.com and author of

Top housing trade groups urge Congress to reform flood insurance

This week, more than 20 top housing trade groups urged Congress to extend the National Flood Insurance Program (NFIP) which is set to expire on July 31, according to a story from HousingWire. Along with reauthorization, the act is

Real Estate in Brief: How long it takes to build a home, the latest refinancing rates and more

The average time it takes to complete a single-family home is about seven and a half months, the same amount of time it took in the previous year, according to the 2017 Survey of Construction from the Census Bureau.

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