Corona Virus is impacting short-term rentals. Fannie Mae is beginning to adopt alternative methods for handling appraisals in the midst of the coronavirus. Apartment Therapy gives their advice on what you can do if you can’t pay or mortgage or rent during this time.
Forbes – “Think Three Steps Ahead: How To Keep A Real Estate Business Afloat in Crisis” (3-25-2020)
“Real estate agents are independent contractors, and all independent contractors work with no safety net.”
Inman – “Coronavirus is already impacting short-term rentals” (3-25-2020)
“The ongoing pandemic has already slowed bookings for companies like Airbnb, and may prompt investors to shift their strategies going forward.”
Zillow – “Despite Low Mortgage Rates, Coronavirus is slowing the housing market” (3-25-2020)
“Mortgage rates hit record lows as home shopping season began, usually an indicator of strong buyer demand, but early signs point to a slowing market because of COVID-19 uncertainty.”
Apartment Therapy – “What To Do If You Can’t Pay Your Mortgage or Rent During The Coronavirus Outbreak” (3-12-2020)
“As the novel coronavirus stifles the economy and triggers mass layoffs, many people are concerned about how they’ll pay their mortgage or cover their rent in coming months.”
CNBC – “These banks are offering coronavirus financial aid” (3-25-2020)
“In the face of the coronavirus pandemic, the financial stability of millions of Americans is in jeopardy. In a statement, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency encouraged banks to work with their customers affected by COVID-19.”
National Mortgage News – “Coronavirus stimulus package: What do banks need to know?” (3-25-2020)
“Lawmakers were putting the finishing touches on a massive $2 trillion stimulus bill Wednesday that would give banks a number of tools to increase their lending capacity and offer consumers some relief as they weather the coronavirus pandemic.”
Talk Business & Politics – “COVID-19 prompts Fannie Mae to adopt alternative appraisal methods” (3-25-2020)
“The Federal Housing Finance Agency (FHFA) on Monday (March 23) directed Fannie Mae and Freddie Mac to ease their standards for both property appraisals and verification of employment.”
ALERT: Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With Inland Gateway Association of Realtors on Thursday, April 9 (ONLINE ONLY).
ALERT: Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with Pasadena FIBI on Thursday, April 16 (ONLINE ONLY).
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Where were the top ten places for millennials to buy a home? New lending rules could affect 50,000 mortgages according to the FHA. The National Association of Realtors reported existing-home sales increased greatly by 11.8% in February.