Subprime mortgages—which were blamed for sparking the last housing crisis—are reappearing, this time being dubbed “nonprime” loans. This lending option, which carries new quality standards, is growing for buyers who have damaged credit.California-based Carrington Mortgage Services is one company expanding its nonprime loan offerings. “We believe there is actually a market today for people who want to buy nonprime loans that have been pr
The difference between the most successful real estate professionals and those who do average business may be just a couple of words. The way you phrase what you say can have a big impact on your ability to attract clients, according to a study by Gong, a product that uses artificial intelligence to identify top buzzwords for salespeople. The company analyzed more than 500,000 sales conversations to identify the most effective words and phrases
Builders are making efforts to ramp up construction, but a large portion of home starts are in luxury markets, leaving inventory shortages in lower price brackets that are helping to sideline many first-time buyers. In the first two months of 2018, first-timers made up 29 percent of all home buyers, down from 32 percent a year ago, according to the latest REALTORS® Confidence Index Survey. Nearly 44 percent of properties were listed at $250,000
As a real estate professional, there will always be more to learn. The actual act (and art) of selling a home isn’t too hard. It’s everything else you need to do to have a successful career in real estate that proves more difficult.Think about it. Even if you have the most amazing brokerage support in the world and the deepest network of experts to assist you, you still have to understand, manage, and work toward mastering: Business mana
REALTORS® are remembering the 50th anniversary of the signing of the Fair Housing Act by further advocating for inclusion and diversity in the nation’s communities.The National Association of REALTORS® designates April as Fair Housing Month and is promoting this year's landmark anniversary through a series of education offerings and events for its 1.3 million members and state and local associations.“As REALTORS® join our industry partne
Borrowing costs haven’t budged much in recent weeks, offering some relief from the weekly rate increases that had almost become routine at the start of 2018.“Mortgage rates have been holding steady over the past two months,” says Len Kiefer, Freddie Mac’s deputy chief economist. “Rates have bounced around 4.4 percent since mid-February. Rates could break out and head higher if inflation continues to firm. … If inflation continues to t
In the absence of legislative reform by Congress, there’s only so much the Federal Emergency Management Agency can do to encourage the growth of private flood insurance. But FEMA, which oversees federal flood insurance, has come up with a few small but meaningful program changes that will make it easier for households to switch to private insurance if they can get a better deal that way.First, the agency has lifted the requirement that househol
Wallpaper tends to be highly flammable and can be a major contributor to house fires. But researchers at Shanghai’s Institute of Ceramics are developing wallpaper that can detect fire and even act as a flame retardant.The wallpaper is made from fire-resistant materials like graphene oxide and hydroxyapatite nanowires. Graphene is electrically insulated and can be used like a sensor switch. When heat rises above a certain temperature, it will cl
Rising home and rental costs are pressing millennials to expect more from their parents. About 17 percent of millennials—those born between 1981 and 1996—expect their parents to help them with their first down payment on a home, according to a report by Apartment List, based on about 13,000 responses.The Apartment List survey also showed about 8 percent of millennials who are not students get some form of financial help from their parents to
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