.........................................................................

24x7 NRI News World Wide---------> WWW. NRIpress.com or Click here

 

Why join NRIrealtor’s partner network?

  • Grow your business without paying any upfront costs
  • Only pay for successful deals to your referral Licensed Agent
  • Pay yearly hosting your webpage link or and share with others to cover news cost of this website (optional)
  • Don't waste time chasing leads that won't convert. Follow our serious clients.
  • Promote your personalized proposals that highlight your skills. We make you popular through our joint team regular media weekly/ or monthly press release

-

-

In Red-Hot Real Estate Markets, Why Do Certain Homes Just Not Sell?

Manchester, NH, currently holds the title of hottest market in the country, where homes typically sell after just 14 days on the market. So when a listing in this desirable city sits for 144 days, there has to be something wrong with it, right? That’s the question we asked upon spotting a three-bedroom, one-bath, 1,400-square-foot house on Central Street listed nearly five months ago for $370,000. That’s far below Manchester’s median listing price of $425,000...Read More

Real estate agents are fleeing the field. Is that good for homebuyers?

When real estate broker April Strickland looks at her local housing market in Gainesville, Fla., she sees a mismatch. Industry data show that only a few hundred homes are sold each month, she said, yet there are more than 1,500 local Realtors. Strickland has seen the ups and downs of the housing market since 1995, when she started managing her parents’ rental properties as a teenager...Read More

7 Ways People Destroy the Value of Their Homes, According to a Real Estate Agent

Josh Dotoli founded Dotoli Group in 2013, and the Fort Lauderdale, Florida-based real estate firm now consistently ranks among the top 1% for sales production nationwide. With over 100 transactions per year and $200 million in closed sales in 2022 alone, it is the No. 1 brokerage in Broward, Palm Beach and Miami-Dade. While Dotoli urges his clients to add as much value as possible...Read More

Inflation Hike May Put Mortgage Rates Above 7% Again

The latest inflation data could push mortgage rates higher, economists are saying. Consumer prices reaccelerated in March, showing a more somber picture of economic progress and throwing into question the Federal Reserve’s planned rate cuts this year. Housing analysts had been hoping that such cuts could help bring mortgage rates lower...Read More

February Sees 1.6% Increase in Pending Home Sales

The Northeast PHSI decreased 0.3% from last month to 63.4, a decline of 9.0% from February 2023. The Midwest index soared 10.6% to 81.6 in February, down 2.5% from one year ago. The South PHSI rose 1.1% to 89.5 in February, falling 8.5% from the prior year. The West index fell 6.5% in February to 57.1, down 7.9% from February 2023. The high-cost regions in the Northeast and West experienced pullbacks..Read More

Strategic Collaboration Unveiled: National Association of Realtors® Forges Partnership with Curbio

The National Association of Realtors® today announced Curbio as a new partner with NAR REALTOR Benefits®. Curbio, which operates in more than 55 markets nationwide, is a pay-at-closing contractor for pre-sale home improvements of any size. As part of the agreement, NAR members and their clients will receive free access to Curbio's 'Build Your Own' estimate app, which offers free repair estimates...Read More

What Buyers Truly Need, Insights from Realtors in the Real Estate Realm

Consumers who succeeded in the transaction were certainly content with their professional representation. A super-majority, 75%, indicated in NAR’s latest Profile of Home Buyers and Sellers that they would definitely use the same agent in the future; another 15% indicated “probably.” The figures are consistent with previous years. That’s why so many of our members say referrals are a top business source. Meanwhile, their clients have done quite well over the years; the typical homeowner’s median net worth is nearly $400,000...Read More

Resignation Shocker: National Association of Realtors CEO Departs Sooner Than Anticipated Following Federal Lawsuit Setback

The jury’s verdict also has the possibility to upend practices by real estate agents to boost commissions as home prices continue to rise. The trade group plans to appeal and seek reduced damages. The association did not mention the lawsuit in Goldberg’s decision to step down. NAR’s leadership also came under fire in August, when its president, Ke..The Nnny Parcell, resigned two days...Read More

Homebuider sentiment drops to lowest point in a year, but falling rates spur some optimism

Homebuilder sentiment is now at the lowest level since the end of last year. More builders reported cutting prices in November. The average cut was 6%. The report reflects sentiment before a recent decline in interest rates. High mortgage rates continue to weigh on the nation’s homebuilders, leading to an increase in price cuts to lure buyers. But builders are cautiously optimistic about recent signs that interest rates may move lower soon.......Read More

‘Rental recession’: London office vacancies hit 30-year high

London’s office market is in a “rental recession,” according to financial services company Jeffries, who reported that vacancies in the capital’s business hub had hit a 30-year high. Jeffries analysts estimated there had been a 20% contraction in London office usage as working from home and hybrid working, as well as a move toward green offices, continue to be a priority......Read more

Home sales fall again in July, as supply drops to near quarter-century low

Sales of previously owned homes dropped 2.2% in July from June to a seasonally adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors. Sales were 16.6% lower compared with July of last year. Homes sold at the slowest July pace since 2010. This count is for closings, so contracts were likely signed in May and June, when mortgage rates went from around 6.5% to.....Read More

Mortgage demand drops as interest rates remain stubbornly high

Mortgage rates didn’t move at all last week, and are still sitting near a recent high. With home prices continuing to rise, that pushed more potential homebuyers to the sidelines.Total mortgage application volume dropped 1.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally.......Read More

Mortgage demand drops as bank failures hit jumbo loan rates

Mortgage demand from homebuyers has been erratic to say the least during the usually busy spring housing market. That is likely because today’s buyers are hypersensitive to mortgage rates, which have been fluctuating widely week to week but which are still considerably higher than they were a year ago. Now, several bank failures are starting to make it more difficult even for wealthier buyers......Read More

Why rent control won’t solve the issue of high rents in the U.S.

In December 2022, $1,981 was the typical monthly rent in the United States — a 7.4% increase from the year prior. But while rent has begun to stabilize nationwide, rent affordability remains difficult for many Americans. “There’s literally nowhere in the country where a tenant is not burdened by their rent,” according to Leah Simon-Weisberg, an adjunct professor of law at UC San Francisco......Read More

Canada is banning some foreigners from buying property after home prices surged

Canada in 2023 is closing its doors to foreign investors who want to purchase homes. A new Canadian law took effect January 1 that essentially bans foreign buyers from buying residential properties as investments for two years. The law was passed because of a spike in Canadian home prices since the start of the pandemic....Read More

‘Call Before Showing’ Codes Enhance Customer Service

Recently, there has been a lot of talk about CBS codes in one of the markets I serve. If you aren’t already aware, CBS stands for “call before showing.” These codes are a setting in the most widely used lockbox brands, Sentrilock and Supra. They’re easily programmed when setting up a lockbox on a listing. ...Read More

Slowdown in Home Prices Ahead Despite Q3 Growth

Home prices continued to climb in the third quarter of this year, but the upward trend may finally be coming to an end, according to the National Association of REALTORS®’ latest quarterly report. Higher mortgage rates are starting to weigh on home price growth, though practically every major metro saw home prices rise in the third quarter.....Read More

RPR®, CompStak Partnership Adds Value to Commercial Transactions

“One of our goals is to provide NAR’s commercial members with quick access to accurate and transparent data,” says CompStak CEO Michael Mandel. Commercial real estate professionals who use Realtors Property Resource®(link is external) now have exclusive access to an analyst-reviewed comp data and analytics platform to leverage in their business....Read More

These 2 maps show the U.S home price correction is sharper—and more widespread—than previously thought

The going home price correction finally showed up in the Case-Shiller U.S. National Home Price Index, as the reading for July came in 0.24% below its June reading. That marks the first month-over-month decline in home prices since 2012.While this is a small numerical drop in the Case-Shiller Index, it’s still a clear indication of a trajectory shift......Read More

The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs

On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now forecasts that activity in the U.S. housing market will end 2022 down across the board. The firm projects sharp declines this year in new home sales (22% drop), existing home sales (17% drop), and housing GDP (8.9% drop). For perspective, Russia’s souring economy is only expected to see its GDP fall 3% this year......Read More

Realtor-July

Moody’s: Home prices to fall in these 210 housing markets—while these 204 markets will go higher

If you wet your beak in the real estate biz, there’s a good chance this already feels like a personal recession. Spiked mortgage rates—which saw the average 30-year fixed rate jump from 3.1% to 5.3% this year—have pushed the U.S. housing market into its swiftest plunge in activity since 2006. Home sales and home construction are both falling—fast. .....Read More

Realtor-July

How hard the housing correction is hitting your local housing market, as told by one interactive map

Two months ago, Moody’s Analytics chief economist Mark Zandi came to Fortune with a bold call: The U.S. housing market, he said, was entering into a “housing correction.” At the time, some in the real estate industry brushed it off. .... Read More

Sellers Rush Before Market Slows

Home sellers are growing concerned that they could miss out on the buyer frenzy. Signs of a slowing real estate market are growing across the country—existing-home sales and new-home sales are falling as well as pending home sales. The inventory of homes for sale rose 9% last week compared to a year ago, according to realtor.com®. New listings are rising nearly twice as fast in the past four weeks as they.......Read More

Housing bubble 2.0? Regional housing markets are beginning to look like they did in 2007

When the U.S. housing bubble burst more than a decade ago, it brought the global economy to its knees. It turned out that the multiyear housing boom through the early 2000s was hiding skeletons. Homebuyers, driven by a fear of missing out on home price gains, were stretching themselves well beyond their financial means. And zealous lenders were giving out mortgages (or better put, subprime mortgages)......Read More

National ‘Agents in Action’ Image Bank to Represent You

The Center for REALTOR® Development (CRD), a wholly-owned subsidiary of the National Association of REALTORS®, has partnered with Getty Images’ Custom Content photographers and videographers to create “Agents in Action,” an image gallery authentically capturing the real estate experience in America.....Read More

Rents Taking a Bigger Bite Out of Pay

Americans spent 30% of their monthly budgets on rents in February, a percentage that most finanMcial experts consider debt-burdened for households. In 14 of the 50 metros tracked, rents accounted for an even higher portion of household incomes, led by Sun Belt metro areas like Miami, Tampa, Fla., and San Diego, according to realtor.com®’s Monthly Rental Report......Read More

Real Estate Company Teams Up to Expand Electric Car Adoption

Indianapolis-based brokerage F.C. Tucker is teaming up with the electric car subscription and buying service Motor to provide access to electric vehicles to its real estate agents and their clients. The new program, Charging Ahead, aims to accelerate electric car adoption in central Indiana.....Read More

Experts: Housing Market Likely to ‘Normalize’ in 2022

While strong homebuyer demand and inventory shortages will continue into 2022, the housing market is unlikely to repeat this year’s dizzying heights, in which existing-home sales reached their highest point in 15 years with an estimated 6 million sales. Slower growth in home prices, decelerating inflation, and multiple interest rate hikes by the Federal Reserve could contribute to a........Read More

Study: Snowiest States Have Pricier Homes

Areas of the country known as “snow belts” are real estate winners. Median-priced homes in the nation’s 10 snowiest states are more expensive than median-priced homes in the least snowy states, finds a study from LendingTree. In fact, homes in snowy states are about $13,000 more, on average, than areas that receive less snow......Read More

Canada house prices poised to surge again despite central bank warning

Canadian housing prices are set to surge again in the coming months as investors and first-time buyers scramble to buy before interest rates go up, ignoring a warning from the Bank of Canada that there is a high risk of a sudden price drop. Central bank Deputy Governor Paul Beaudry told would-be home buyers........Read More

How REALTORS® Are Rising to Meet Industry Challenges

REALTORS® have adopted—and adapted to—new ways of doing business safely in the global pandemic, emerged as community forces for doing good, and advocated for furthering the American dream of homeownership, Charlie Oppler, 2021 president of the National Association of REALTORS®, said during the General Session kickoff event on Friday at the 2021 REALTORS® Conference & Expo.....Read More

10 Most Affordable Counties for Homeowners

Home prices surging has been squeezing housing affordability. Seventy-five percent of the U.S. counties recently analyzed had less affordable median-priced single-family homes in the third quarter compared to their historical averages, according to ATTOM Data Solutions, a real estate data firm......Read More

How Vulnerable to Cyberattacks Are Commercial Buildings?

At first blush, the ransomware attack on Colonial Pipeline in May and a hacker’s attempt to poison the water supply in Oldsmar, Fla., in February may not appear to have much bearing on the safety of the average commercial building. But in reality, most buildings are vulnerable to these types of cyberattacks, a panel of experts said during a webinar last week called “Cybersecurity in the.......Read More

Biden Takes Aim at Appraisal Bias, Housing Disparities

The Biden administration is zeroing in on homeownership and small business development as avenues to close racial wealth gaps, announcing a spate of new programs Tuesday aimed at supporting communities of color and disadvantaged neighborhoods. The announcement comes on the centennial of the....Read More

Affordable Alternatives to the 7 Largest U.S. Cities`

While home buyers fled urban areas during the pandemic in search of larger, more affordable homes, bidding wars are now pushing up housing prices in the suburbs and leaving many unsure of their next move. “Even before the pandemic, we saw that buyers were looking for more affordable towns near larger cities because as home prices rose, value and affordability became top of mind,” says Danielle....Read More

The Suburban Office Could Blur the Lines of Residential, Commercial

Remote work is likely going to continue in some form, but that doesn’t mean workers never want to head into an office again. Investors are betting on a post-pandemic surge in interest in workspaces located in suburban neighborhoods. To get ahead of what they foresee as a trend, they’re eyeing suburban residences and empty retail, with the thought of turning them into smaller office spaces that can be .....Read More

New-home Sales Reach 15-year High

Buyers are increasingly turning to newly constructed homes for more options. Sales of new single-family homes surged 20.7% month over month in March to a 1.02 million seasonally adjusted annual rate, according to new data from the Department of Housing and Urban Development and the Census Bureau. New-home sales are at the highest annual pace since September 2006.........Read More

April Marks Fair Housing Month: NAR Launches New Resources for You

Want to shine a light on the role real estate professionals play in fighting discrimination? In honor of Fair Housing Month, the National Association of REALTORS® is launching several resources to help you promote your fair housing commitment, as well as educational resources to keep you informed about the latest issues surrounding fair.....Read More

U.S. Existing Home Sales Rise in January as Buyers ‘Snatch Up’ Any New Listings

The numbers: U.S. existing home sales inched up 0.6% to a seasonally-adjusted annual rate of 6.69 million, the National Association of Realtors said Friday. Compared with a year ago, home sales were up 23.7%. Economists polled by The Wall Street Journal had forecast that existing home sales would fall to a median rate of 6.66 million......Read More

Plunging City Rents Could Spawn Urban Resurgence

Interest in apartments in big cities has waned during the COVID-19 pandemic, while apartments in less dense areas have surged in demand. A new report from realtor.com® shows that major urban markets, such as San Francisco and New York, are posting double-digit price declines for one- and two-bedroom units compared to a year earlier.Read More

Property Owners Get Much-Needed Relief in New Stimulus

Housing providers can breathe a sigh of relief. After months of political gridlock, Congress passed a series of measures Monday night to provide financial relief for Americans struggling during the COVID-19 pandemic. Among the provisions benefiting real estate: $25 billion in rental assistance to states and clarification......Read More

U.S. Home Price Appreciation Hits 6-Year High in September

Based on CoreLogic's latest Home Price Index, U.S. home prices increased 6.7% in September 2020, compared with September 2019, marking the fastest annual acceleration since May 2014. On a month-over-month basis, home prices increased by 1.1% compared to August 2020. Home-purchase demand maintained pace in the late summer compared to previous years, as record-low mortgage rates......Read More

Real Estate Investors Feel Bullish, Ready to Jump Back In

A majority of real estate investors in the U.S. say they’re optimistic about the strength of the housing market, despite the nation caught in a recession caused by the pandemic. A new survey from LendingHome, a resource for investors, reflects 600 respondents among three investment segments: house flippers, landlords of single-family rental homes, and real estate investment mortgage brokers......Read More

U.S. housing market has been surprisingly active during lockdown

After the coronavirus shutdown, the small Texas homebuilder braced for the worst. And it came: Business plunged in April. Then in May, something unexpected happened. Sales were 30 per cent above the company’s own pre-crisis forecast for the month. Many owners of existing homes aren’t selling, which often makes builders like Pacesetter the best source of inventory......Read More

U.S. April construction spending falls 2.9% as virus upends work

U.S. construction spending fell 2.9 per cent in April, the largest drop in 18 months, with broad declines across all building activity as shutdowns hobbled projects and workers were told to stay home.

The Commerce Department said that the April decline was the biggest monthly drop since a 3 per cent fall in October 2018....Read More

New Construction Slows But Remains Higher Than Last Year

Home builders started on fewer new homes in March as the COVID-19 pandemic spread across the nation. New construction was at a pace of 1.22 million units in March, the Commerce Department......Read More

First-Time Buyers Turn to Family for Down Payment Help


Where would we be without family and friends? More of us would be apartment dwellers, according to a new report from the National Association of REALTORS®. Thirty-two percent of first-time home buyers received ........Read More

NEW APARTMENT SUPPLY EXPECTED TO REACH 30-YEAR HIGH THIS YEAR

The apartment sector is expected to have a banner year, with new supply reaching a three-decade high across the country’s 150 largest apartment markets, according to a new report from RealPage, a property management software firm. For this year,......Read More

HOUSE FLIPPING RISES EVEN AS PROFITS FALL

Last year, home flipping reached its highest rate since 2006, according to ATTOM Data Solution’s 2019 U.S. Home Flipping Report, released Thursday. But despite the increase, profit margins have dropped, the report shows.

....Read more

REAL ESTATE SALES SINK AS FOREIGN BUYERS SHY AWAY FROM SHAKY POLITICAL CLIMATE IN U.S.

Luxury real estate has seen a dramatic downturn this year, as punitive new tax laws and a retreat by foreign buyers sent prices spiraling to recession-era levels in some markets.......Read More

MANSION TAX MAY BE HEADED TO BOSTON NEXT

Boston’s mayor has paved the way for a new mansion tax on all home sales over $2 million. Mayor Martin J. Walsh signed a petition that would give Boston the ability to charge a one-time transfer fee of up to 2% on residential deals over $2 million....Read More

NEW-HOME CONSTRUCTION ACTIVITY CONTINUES TO RISE, AS BUILDERS SEEK EVEN MORE BUILDING PERMITS

The numbers: Builders began construction on new homes in the U.S. at a pace of 1.37 million in November, the Commerce Department said Tuesday. This represented a 3.2% increase from a revised 1.32 million in October and was 13.6% higher than a year ago.......Read More

DO YOU NEED AN OPEN HOUSE TO SELL YOUR HOME?DO YOU NEED AN OPEN HOUSE TO SELL YOUR HOME?

An open house invites people to tour a home that is for sale. A listing real estate agent often schedules two different types of open houses: a "broker only" open house to other agents, during the day on a weekday, and an open house that's open to the public, typically on a Sunday.....Read More

HOW TO HANDLE INHERITED INVESTMENTS

On the one hand, it's overwhelming, thanks to the intense emotions associated with losing a loved one combined with the confusion about what to do with the newly acquired assets. On the other, an inheritance can re-invigorate your finances and create new opportunities for you and your family......Read More

   

More NRIrealtors News....Click Here

 

TAKE CARE OF YOUR NRI COMMUNITY

In order to survive and thrive in any Business

you must master the art of networking

 

Diamond Sponsors

 

Gold Sponsors