After the House and Senate approved a three-month extension of the National Flood Insurance Program this week, President Donald Trumped signed it into law Friday as part of a legislative package releasing more than $15 billion in assistance for storm-ravaged areas in the country.“Extending the National Flood Insurance Program was a must-do item, and Congress delivered,” William E. Brown, president of the National Association of REALTORS®,
Medical professionals may be eligible for a mortgage up to $750,000 without a down payment or private mortgage insurance needed. PhysicianLoans, an Ohio-based mortgage lender, says its “Doctor Loan” is available to medical doctors, dentists, and veterinarians.The company lends in 18 states, including Georgia, Michigan, Minnesota, Pennsylvania, Ohio, Texas, and Wisconsin, among others.PhysicianLoans has offered zero-down loans for doctors pr
For the third consecutive week, the 30-year fixed-rate mortgage averaged a new year-to-date low.“The 10-year Treasury yield fell 9 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate followed, dropping 4 basis points to a year-to-date low of 3.78 percent.”Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 7: 30-year fixed-rate mortgages: a
Long & Foster is joining HomeServices of America. The real estate giant, one of the largest residential real estate companies in the country by sales volume, was acquired this week by HomeServices of America, a Berkshire Hathaway firm. Long & Foster’s business lines in mortgage, settlement services, insurance, and property management are also included in the acquisition.HomeServices of America, an affiliate of Warren Buffet’s Berkshir
The credit reporting firm Equifax announced a massive cybersecurity breach that likely comprised the personal information of up to 143 million Americans—essentially half of the country, CNN reports.Hackers gained access to sensitive information such as names, social security numbers, birth dates, addresses, and driver’s license numbers between mid-May and July, Equifax reports. The breach was discovered on July 29 by the firm. Credit card num
The Florida REALTORS® association is warning its members to brace for full impact from Hurricane Irma as the storm tears through the Caribbean and heads straight for the state. Irma is expected to make a direct hit on Miami by Sunday. The storm, which has wreaked devastation on Caribbean islands as a Category 5 hurricane, was downgraded to a still-dangerous Category 4 on Friday, and Florida Gov. Rick Scott has called for mass evacuations. Irma f
Trying to reconnect with a once-promising client after a long silence can feel awkward. But you still may be able to salvage the relationship and renew their interest in moving forward again, writes Forbes.com columnist Heather R. Morgan, economist and the founder of Salesfolk. Morgan highlighted a few ways to accomplish this, including:Offer up new information.“Instead of wasting valuable space pointing out what we already know—that the conv
About 60 percent of home buyers put 6 percent or less down on their home purchase, according to data from the National Association of REALTORS®. Considering the median existing-home price is $258,300, a 6 percent down payment would be $15,498.Some aspiring buyers may be unsure of how to come up with that amount. But there are plenty of seemingly simple things they can do to start saving. NAR offers the following infographic. Sou
Brace your new-home buyers for their home’s wait time: The average time to complete a single-family home is about 7.5 months, according to the Census Bureau’s 2016 Survey of Construction. That includes nearly a month of permitting before any construction takes place, and then another 6.5 months to finish the actual construction.However, the time to build can greatly depend on geographic location. For example, the New England region had the l
Many home sellers succumb to myths about home pricing that don’t match the reality of the housing market. Realtor.com® recently highlighted several of those common pricing myths, including:You won’t always make money on the sale of a home.Home sellers shouldn’t always assume they’ll walk away with a profit. The National Association of REALTORS® estimates home prices will increase 5 percent by the end of this year. That said, 23 markets
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