Today’s News Synopsis:
What would you do to win the bid on your dream house? The National Association of Realtors is pushing for the passage of the 2018 fiscal year spending bill as it could be a big stepping stone toward affordable housing and flood reauthorization. Mortgage rates remained virtually unchanged after dropping last week with 30-year rates now at 4.45% and 15-year rates at 3.91%.
In The News:
National Association of Realtors – “Passage of FY 2018 Spending Bill Critical Step for Affordable Housing Funding and Flood Reauthorization” (3-22-2018)
“With six months remaining in the 2018 fiscal year (FY), the National Association of REALTORS® urges the passage of the “omnibus appropriations bill” agreed upon by U.S. House and Senate negotiators last night, which is designed to fund the federal government through September 30, 2018.”
Realtor.com – “Home Buyers Are Raring to Go, Planning Strategies as Spring Market Heats Up” (3-22-2018)
“Driven by frustrated buyers who rolled over from last year and record-breaking lows in housing inventory, the 2018 spring buying season is expected to be one of the most competitive in years—but buyers are still optimistic about getting into their dream home, according to a survey conducted for realtor.com.”
ATTOM Data Solutions – “ATTOM Data Solutions Ranks Best Counties for Buying Single Family Rentals in 2018” (3-22-2018)
“ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q1 2018 Single Family Rental Market report, which ranks the best U.S. markets for buying single family rental properties in 2018.”
Zillow – “Rent Growth Accelerating at Fastest Pace in 21 Months” (3-22-2018)
“Median rent across the nation is accelerating at its fastest pace in 21 months, according to the February Zillow Real Estate Market Report. Over the past year, the median rent in the U.S. rose 2.8 percent to a Zillow Rent Index (ZRI) of $1,445.”
Freddie Mac – “Mortgage Rates Hold Steady After Last Week’s Drop” (3-22-2018)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS®), showing little change to mortgage rates after falling for the first time in 2018 last week.”
Realtor.com – “Neutral No More! 8 Cheap and Easy Ways to Add Color Back Into Your Kitchen” (3-22-2018)
“It’s no secret that neutral kitchens continue to reign, with classic white, basic beige, and 50 shades of gray leading the pack.”
Redfin – “Bay Area Music Teacher Wins Bidding War With Heartfelt Rendition of ‘Our House'” (3-22-2018)
“When Natan and Elizabeth Kuchar put in an offer on a charming 1929 Berkeley, CA split level, they had no idea what it would take to win the home.”
HousingWire – “Dear Lenders: Social media is all or nothing” (3-22-2018)
“Investing in a social media strategy is an all or nothing play if you are in real estate or lending. It is especially important if you are in this business for legacy because brand building takes time.”
Bruce Norris will be presenting Stay Put or Cash Out with WEREP on Friday, March 23.
Bruce Norris will be presenting Stay Put or Cash Out with IVAR on Wednesday, April 4.
Bruce Norris will be presenting Stay Put or Cash Out with Pasadena FIBI on Thursday, April 19.
Realtor.com released their list of the top places where millennials prefered to purchase real estate. The latest Bloomberg analysis also showed which cities’ homes had the highest household incomes. Sales of existing homes were lower the previous month at 5.48 million after having seen an increase the previous month; sales decreased 3.7%.
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