As I’ve conveyed many times in the past, the iBuyer program costs sellers substantially compared to using the traditional market. The Federal Trade Commission came down on Opendoor, and no doubt Zillow saw this action coming down when they pulled out of their iBuyer operation. Excerpts from the ... » Learn More about FTC Takes Action to Stop Online Home Buying Firm Opendoor from Cheating Potential Sellers with Misleading Claims about its Home-Buying Service
Regulations and Laws
Why the Structural Elements of New Housing Construction and Age Demographics Feeds Into a Continuing Strong Real Estate Market
Housing follows the basic economic 101 fact that if demand is higher than supply, pricing will go up. The age chart reflects the Millennials are in their prime housing formation years. The aging population is staying put, and the average time of housing retention used to be 7 years, now it's 11. ... » Learn More about Why the Structural Elements of New Housing Construction and Age Demographics Feeds Into a Continuing Strong Real Estate Market
Los Angeles Controller Calls Out Slow Progress and Inefficient Spending On Emergency and Affordable Housing
The following is a release from the Los Angeles Controller on the inefficient spending of funds allocated to take care of the homeless issues in Los Angeles. Los Angeles Controller Ron Galperin is the taxpayers’ watchdog at City Hall, making sure public dollars are spent efficiently and effectively. ... » Learn More about Los Angeles Controller Calls Out Slow Progress and Inefficient Spending On Emergency and Affordable Housing
Double Hit on Mortgage Rates From Fed and FHFA
As you can see in the chart of the 10 year note, the long term rates have jumped pretty hard starting just before Christmas. Today the Federal Reserve's meeting notes shows their aggressive approach to normalizing interest rates. The Fed already announced they will be doubling tapering amounts ... » Learn More about Double Hit on Mortgage Rates From Fed and FHFA
What the Higher Conforming Loan Limits Means For New Mortgages
Some of my wholesale lenders are being aggressive and funding conforming loans on a higher conforming maximum loan limit of $625,000 for a one-unit property, which is $75,000 above the current FHFA limit of $548,000.The new limits generally are released for Freddie and Fannie loans by the Federal ... » Learn More about What the Higher Conforming Loan Limits Means For New Mortgages