Existing-home sales improved in January from the previous month by 4.3 percent, pointing to improved sales in 2012 if the trend holds. NAR’s forward-looking pending home sales index, with a 2 percent gain in January, also points to sales growth. The latest pending sales level, at 97.0, is at its highest in the last five years, not counting the spikes caused by the home buyer tax credit in 2009 and 2010.
Regarding the article “Fed Advocates REO Rental Program” (Daily Real Estate News, Jan. 5, 2012), the Fed needs to ease the restrictions for investor loans to investors that have good credit and maintain more than four mortgages in good standing. We have lots of potential buyers in our marketplace, but because they have four or more loans, they are prevented from purchasing. It’s a ridiculous restriction and inhibits small business. Loans to qualified investors were not the mortgage problem.
In 2012, REALTORS® will be going back to the (virtual) classroom, marching on Capitol Hill, and earning rewards for engaging with their association.
Maybe it’s all the tweeting I’ve been doing (via @realtormag), but 400 words feels like a lot to write about one topic. Instead, a potpourri.
Banks can spur a housing recovery by providing underwater borrowers relief through principal reduction.
“Unethical recruiting is rampant these days because of desperate brokers,” says Dave Tina, general manager of Realty One Group in Las Vegas. “I’ve seen brokers saying that the company the sales associate works for is going bankrupt when it’s financially solvent or that it’s been bouncing commission checks when it never has.”
Topics: Code of Ethics
REALTOR® Magazine ethics columnist Bruce Aydt, general counsel at Prudential Alliance, REALTORS®, in St. Louis, shares his thoughts on doing the right thing when faced with the six most challenging articles in the NAR Code of Ethics.
Topics: Code of Ethics
With frustration levels high as buyers and sellers navigate short sales and REOs, the chance of getting snagged in a lawsuit is higher than it otherwise might be. Even if you aren’t personally named in a legal action, you could be subpoenaed to answer attorneys’ questions in a deposition if you had a role in a transaction gone bad. Before you’re deposed, here’s what you need to know.
Topics: Short Sales
As an evolutionary biologist, David Sloan Wilson expected to spend his life studying zooplankton. But now his microscope focuses on a broader subject: his hometown of Binghamton, N.Y.