The federal government is expanding its effort to catch people and organizations that use all-cash purchases of high-end real estate to launder money. Under the expansion, Honolulu will join several other areas in which title agents are required to report purchaser information for specific transactions. The expansion also adds certain wire transfers to the list of reportable real estate transactions, specifically to help the government identify i
The interest rate for jumbo loans—those greater than $421,100—dropped five basis points last week, averaging 3.99 percent for the week. That is now 13 basis points lower than the conforming rate, which is the largest spread between jumbo rates and the conforming rate since March 2016, according to the Mortgage Bankers Association."A strong appetite for jumbo loans and a highly competitive jumbo market has led to increased availability and lo
The Federal Housing Finance Agency announced that it is extending HARP, a popular government refinancing program, through Dec. 31, 2018. The Home Affordable Refinance Program was to expire on Sept. 30. While the FHFA has once again extended the deadline by another 15 months, this time it plans to introduce a new loan program to eventually take HARP's place.HARP, which was introduced during the housing crisis, helps homeowners refinance their mor
Renters are more likely to experience a burglary than homeowners, according to data from the Bureau of Justice Statistics. Apartment buildings with two to four units are the most at risk of theft.“This is probably because plenty of people come and go from apartment complexes daily, while homes only have a few family members who enter or leave,” according to ADT, a security firm, which recently analyzed data on burglary risks across the countr
Value range pricing, also known as variable range pricing, is when a listing indicates sellers are looking for offers between two suggested prices, such as "$450,000 to $500,000," rather than just one price, such as $475,000. This tactic is still relatively rare, but it’s becoming more popular because it offers advantages to both buyers and sellers, according to realtor.com®.“Once buyers and sellers understand the rhyme and reason of the co
Mortgage guarantor's use of AVMs will be boon to buyers, gut-punch to appraisersWhen real estate broker Hank Miller explains the mortgage process to buyers, he gives it to them straight.“It’s going to be the biggest pain in the ass that you’ve been through,” he says.Freddie Mac and Fannie Mae, government-owned entities that buy a large share of U.S. mortgages from lenders, are taking a big step toward alleviating this pain by eliminating
Be thoughtful and intentional with the emails you send outKey Takeaways Personalization is so important in communication with our real estate clients. Email templates can give you room to personalize, while also saving you time on the emails you send constantly.It’s not a surprise that when you hear email templates, you automatically assume it must have to do with bulk emails or mass newsletter emails.And you’re not wrong, but in this case,
Follow your passions, build your brand, and the right clientele will come to youYou won’t find Aaroe Estates president and real estate agent Aaron Kirman slumped behind a desk or hiding behind his tablet. You’re more likely to catch him mid-volley on the tennis court with clients, chatting it up with prospects at dinner or enjoying a casual day of shopping with investors.Aaron KirmanKirman, a 21-year real estate vet, was with Hilton & Hyl
Local agents at Nest Realty in Charlottesville will soon gather to discuss what's next and how they can make a differenceThis week, just two blocks from where several hundred white nationalists and supremacists recently shook the city of Charlottesville, Virginia, and the entire nation to its core, team members at real estate brokerage Nest Realty will meet to brainstorm what they can do to make a difference.Their conversation will center on fund
Blogging is one of the best ways to create value during your follow-up processKey Takeaways Write like a human, not like a brand. And you don’t need to close each blog with a hard sell. Useful content speaks louder than a sales pitch. Establishing credibility helps new website visitors feel confident in reaching out to you about working together.Every successful real estate agent will tell you that nurturing a healthy pipeline of people who c
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