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Tandy on Real Estate
Tandy on Real Estate
Good news for homebuyers
Good news for home buyers. Interest rates continue their decline dropping over 50 basis points from their recent high at the end of last year.
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CFPB advises lenders to assist consumers in disaster areas
Institutions supervised by the Consumer Financial Protection Bureau (CFPB) can assist consumers in disaster areas by:
FEMA and lender disaster notices
Listed below are excerpts from Rob Chrisman’s http://www.robchrisman.com/ daily blogs from August 22nd to September 7, 2017 regarding FEMA and lender disaster notices for your quick reference. Great advice for lenders, servicers and borrowers for dealing with disaster/flood related issues from Hurricane Harvey.
Tax relief for victims of Hurricane Harvey
The IRS has provided tax relief to victims of Hurricane Harvey. Those in Texas who have been affected by the storm have until January 31, 2018, to file certain individual and business tax returns and make certain tax payments. This includes an additional filing extension for taxpayers with valid extensions through October 16, and businesses with extensions through September 15.
Millennials dive into home ownership
I believe that there are many misconceptions when it comes to Millennials. We have all heard that Millennials are renting longer or live with their parents for a longer amount of time than previous generations, and that they have issues with student debt. These factors, to the general eye, would make it appear that Millennials are not interested in home ownership. But, from my research and experience, this is only part of the story.
Self-made millionaire: Not buying a home is the single biggest millennial mistake
According to CNBC not buying a home is the single biggest mistake of a millennial. Financial author David Bach says that, “millennials are making a big mistake by not owning a home.” According to his calculations today’s homeowner is on average 38 times wealthier than a renter.
A vision for homebuilding
At the National Association of Real Estate Editors (NAREE) Conference in Denver, Douglas Yearley, CEO of Toll Brothers presented the Keynote Address “A Vision for Homebuilding”. Here is a snapshot of his state of builder/buyer.
Business is good
Toll Brothers announced earlier this summer that they had the best spring selling season that it has had in the past ten years. This can be attributed to many things:
CFPB finalizes updates to “Know Before You Owe” Mortgage Disclosure
On July 7th, the CFPB announced the finalized updates to the “Know Before You Owe” Mortgage Disclosure rule. Their announcement states that the “changes will provide more clarity, and preserve protections for consumers.” According to CFPB Director Richard Cordray, “A mortgage is one of the largest financial decisions a consumer will ever make, and CFPB’s rules help ensure consumers have the easy-to-understand information they need before making a decision that will significantly impact their financial lives.
The housing shortage
At the National Association of Real Estate Editors Conference (NAREE) in Denver this month “The housing shortage: dealing with barren inventory” was presented. The panel presenting included Thomas O’Grady, Pro Teck Valuation Services; Aaron Terrazas, Zillow; and Javier Vivas, realtor.com. Here is a snapshot of what was covered.
NAR HOME survey says 71 percent of homeowners believe it’s a good time to sell
The National Association of REALTORS® released their quarterly Housing Opportunities and Market Experience (HOME) survey yesterday, and “71 percent of homeowners believe it’s a good time to sell.”
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