Posts Tagged ‘#coronovirus’
Existing-home sales soared in September — 7 in 10 homes sold in less than a month
This is a reprint from Market Watch Published: Oct. 23, 2020 at 8:59 a.m. ET By Jacob Passy As the pandemic continues, the risk of a prolonged economic downturn could cause some buyers to rethink making a big purchase, especially given rising home prices Despite the pandemic, existing-home sales increased for the fourth consecutive month…
Read MoreNew Home Sales Dip Slightly in September, but Remain Strong Going Into Fall
This is a reprint from Realtor.com By Jacob Passy | Oct 26, 2020 George Frey/Bloomberg via Getty Images The numbers: Sales of new single-family homes fell in September, but the housing market remains poised to buck seasonal trends nonetheless. New home sales occurred at a seasonally-adjusted, annual rate of 959,000, the U.S. Census Bureau reported Monday. That represents a 3.5%…
Read MoreKicking the Can: Will Delaying Evictions and Foreclosures Worsen a Downturn?
Great Article from Tamar Hermis Reprint from Bigger Pocket: September 10 2020 In April 2020, tenants in a single-family home I own in Texas stopped paying rent. They had all sorts of reasons, including losing their job, being sick, and having the bank hold their unemployment check. I was willing to wait another week…
Read MorePandemic-Fueled Supply Chain Woes Causing Big Problems for Builders
We were getting estimates from contractors for one of our rehabs last week and one of them kept me on the phone for 30 minutes complaining about the cost of lumber at Menard’s a local hardware store. He said that in one day the price for lumber had tripled. That reminded me of this great…
Read MoreNew Federal Eviction Moratorium
What: The Centers for Disease Control and Prevention (CDC) announced the issuance of an Order under Section 361 of the Public Health Service Act to temporarily halt residential evictions to prevent the further spread of COVID-19. When: September 4, 2020 through December 31, 2020. Who is covered: All properties, except vacant and abandoned. Any…
Read MoreFHFA and FHA Extend Single-Family Foreclosure and Eviction Moratoriums Through Dec. 31, 2020
Filed in Advocacy, Disaster Response, Housing Finance on August 28, 2020 • 0 Comments The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and evictions at least through Dec. 31, 2020. The foreclosure and eviction moratorium applies to Fannie Mae and Freddie Mac-backed single-family mortgages only. The current moratorium was set to…
Read MoreNational Association of Realtors Applauds Congressman Maloney’s First Time Homebuyer Pandemic Savings Act
Here’s a relief bill I’d like to see pass. NY Rep’s bill would make COVID-19 relief funds tax-exempt if used toward home down payment WASHINGTON (July 22, 2020) – The National Association of Realtors® called on members of the U.S. House of Representatives to cosponsor and support Rep. Sean Maloney’s (NY-D) First Time Homebuyer…
Read More5-Day Rent Notices Voided in Chicago due to COVID
This is a reprint from Verella Osborne, President-Legal Document Management, Inc, Chicago Creative Investor Associaton A new Chicago law passed regarding all 5-Day rent notices (or any demands for unpaid rent) served on Chicago tenants after 3/20 are now voided.The new Chicago law requires that a demand for rent served between 3/20 and 9/25 must be accompanied by a Tenant…
Read MoreHow the Pandemic Is Changing Appraisals
The article below is a reprint from Realtor.com. It’s an important article from our perspective and we’ve experienced much of what the article refers to. For example- Do you do want an exterior-only or just a desktop drive-by appraisal. Many appraisers are continuing to do appraisals that require an interior inspection of the home. But…
Read MoreHow the Coronavirus Is Transforming the Housing Market: A Tale of Four Metros
This is a reprint of a great analysis by REDFIN of the impact of Coronavirus on 4 markets, Chicago, Detroit, New Orleans, and Seattle. One of the takeaways regarding Chicago- “Chicago’s housing market has felt somewhat insulated from this pandemic,” said local agent Daniel Close. “It’s not universal, but buyers still seem excited to make offers,…
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