Mortgage Rates Keep Housing on Track
June numbers show that low mortgage rates are keeping housing on track despite rapidly rising house prices, according to recently released date from Freddie Mac. The report examines current projections of homeownership rates in the years to come from among various experts, as well as the latest results on refinance statistics from current homeowners. So far, homeowners aren't using cash-out refinances to over-leverage themselves.
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What Building 1,000 Homes Means to the U.S. Economy
According to the National Impact of Home Building (NAHB) model, building 1,000 average single-family homes generates 2,975 jobs and $111.0 million in taxes and fees for all levels of government. Similarly, building 1,000 average rental apartments generates 1,133 jobs and $42.4 million in taxes.
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No gas tax hike in New Jersey for now
The New Jersey Senate will not vote on a bill that would have raised the gas tax and cut the sales tax in the Garden State. Senate is not satisfied with the bill that was approved by the Assembly, and senators are working to draft their own legislation. The current legislation would have raised the gas tax to 37.5 cents a gallon from 14.5 cents and cut the sales tax from seven percent to six percent.
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'Brexit' Could Give U.S. Real Estate Brief Boost
NAR Chief Economist Lawrence Yun said that based on Britain's vote to exit the European Union the demand for U.S. real estate could rise. On the commercial side, global corporations could show additional interest in U.S. real estate as they come to see the U.K. as a less certain place to set up or maintain their businesses, Yun says, "especially in London, as it becomes a less attractive place to conduct global business." READ MORE
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Stop First-Time Buyers From Making Mistakes
First-time home buyers are facing some stiff competition this summer, and while they may feel compelled to make a hasty real estate decision, doing so could lead to financial remorse or home buyer regret. Real estate professionals share some of the most common mistakes by first-time home buyers make. READ MORE
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What Really Ticks Off Buyers and Sellers
Missed appointments, the impersonal nature of modern real estate transactions, scheduling struggles, and sellers lingering during showings are just a few of the common gripes from buyers and sellers, according to a recent article in The Washington Post. READ MORE
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HUD and DOJ Award $8.7 Million to Prevent and End Homelessness
Recently, the U.S. Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) awarded $8.7 million to address homelessness and reduce recidivism among this justice-involved population through the Pay for Success model. HUD's Pay for Success Permanent Supportive Housing Demonstration tests cost-effective ways to help persons cycling between the criminal justice and homeless service systems.
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REALTORS® to Congress: Flood Insurance Rates Post Threat to Business, Homeownership
Flood insurance costs continue to put small businesses and homeownership at risk, but the National Association of Realtors® told U.S. Senators today that a range of solutions are on the horizon. David McKey, 2016 vice chair of NAR's Insurance Committee, testified on NAR's behalf before the Senate Small Business and Entrepreneurship committee.
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The Dangers of Live Video
The live-video craze taking over social networking sites like Twitter and Facebook stands to help put real estate professionals in front of a wider audience of potential clients in real time. The problem is you don't always know who might be watching.
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