How to help your clients look before they leap into buying

As many real estate agents know, despite breathless media reports to the contrary, the decision to buy or sell a home doesn’t hinge on just one factor, like interest rates or price appreciation. Rather, consumers should look at the intersection of many different data points to determine when the time is right for them to make a move in the housing market — and experienced agents who are aware of and keep up to date on these factors are proving themselves invaluable to their clients …

Zillow: Buyers spend more time shopping for a car than their home loan

Survey participants on average reported spending 8 hours — obtaining just four quotes from lenders — weighing home loan options, the same amount of time they would spend researching a vacation. In comparison, respondents spent 11 hours shopping for a…

Everything an agent needs to know to master market literacy

Perhaps the most valuable lesson that real estate consumers learned from the housing crash was that home values can fall as well as rise. More than seven million families lost their homes to foreclosures and short sales; a brutal wake-up calls that though homeownership is safer than most investments, it still involves risk. Today’s buyers are very aware that a single wrong decision or factors beyond their control can cost them dearly …

Boomerang buyers on the move?

The U.S. Census Bureau released its homeownership and vacancy rate data for the first quarter of 2016. While homeownership remains relatively stagnant, Gen Xers may be re-entering the market at a higher pace in their recovery from the housing bust. …

TRID, take 2?

If you have ironed out your bugs and confusion in the seven months since the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rule took effect, don’t get too comfortable. More changes to the biggest mortgage transaction overhaul we’ve had in four decades are on the way. In a letter issued to several banking and financial services industry trade groups yesterday, the CFPB said it has “begun drafting a notice of proposed rulemaking on TRID, or the “Know Before You Owe” rule, as the bureau prefers to call it …

Rise in homeowner equity continues to stabilize housing market

Every quarter, the U.S. Federal Reserve releases its report regarding the Financial Accounts of the United States. Although this is a very lengthy and detailed analysis, it does contain some interesting statistics on housing. The particular “nuggets” that I look for relate to the total value of residential real estate, mortgage debt and, rather importantly, details regarding homeowner equity …

Homebuyers report positive experiences, request better online resources

Despite today’s time-consuming lending process, more than 70 percent of the 1,300 homeowners surveyed in this year’s fourth annual TD Bank Mortgage Service Index rated their most recent buying experience as “very good” or “excellent,” an increase of ne…

Loan Estimate comparison tool helps buyers weigh options

Some people consider the Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA Integrated Disclosure (TRID) rule burdensome, and some people even jokingly refer to the acronym as “The Reason I Drink.” But for others like eLend — a company that uses technology to simplify the mortgage process — TRID is an opportunity …

NYC near top of nation in over-leveraged homes, report says

One of the cities where over-leveraging (taking on too much debt in mortgage) is largely occurring is New York City, according to a recent report from WalletHub, which found NYC has an average mortgage debt of $556, …

Of the surviving 5 Presidential candidates, who’d do the least harm to housing?

Readers of this site are in or near the real estate business. What is the single most-important thing to us? Money. What kind? Loans. Real estate is more dependent on credit than the rest of the economy put together …