Monthly Archives February 2020

Can AI Match Luxury Agents With Well-Heeled Buyers?

Can AI Match Luxury Agents With Well-Heeled Buyers?

28th February 2020 | Comments Off on Can AI Match Luxury Agents With Well-Heeled Buyers?

Until recently, RE technology focused on the middle market, but the luxury market could soon see some disruption as AI helps agents connect with high-net-worth buyers. NEW YORK – Artificial intelligence (AI) is on the rise, augmenting or changing how industries like real estate and others operate. Until recently, real estate technology firms focused on the middle market where comparable, median-priced homes offer ample data points to feed algorithms that underline new tools and churn novel market insights in real time. However, the luxury market could see disruption as well, as some say AI can help real estate agents connect
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Top Goal for Remote Workers? Feeling Like Part of the Team

Top Goal for Remote Workers? Feeling Like Part of the Team

28th February 2020 | Comments Off on Top Goal for Remote Workers? Feeling Like Part of the Team

Joyce M. Rosenberg While “Are they really working?” worries bosses with off-site staff, a big one should be retention: “How do I build team spirit when we’re never in the same room?” NEW YORK (AP) – Nicolas Vandenberghe’s company has 42 staffers scattered among 36 cities in 15 countries. As technology makes it possible for people to be in constant touch while working remotely, businesses like Chili Piper are becoming the norm. “We have Zoom, Slack, and a myriad of other collaborative tools – do we really need the in-person water cooler meetings?” asks Vandenberghe, whose business makes software to
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Real Estate Q&A: Inherited Home Sales Can Get Tricky

Real Estate Q&A: Inherited Home Sales Can Get Tricky

28th February 2020 | Comments Off on Real Estate Q&A: Inherited Home Sales Can Get Tricky

Gary M. Singer Three siblings inherited their sister’s house upon her death, and then one of the brothers died without a will. Can the remaining two siblings still sell the house? FORT LAUDERDALE, Fla. – Question: My sister passed away and left her house to me and our two brothers. The three of us decided to sell the house, but before we could, one of my brothers also passed away. He was single with no children and did not have a will. Can we still sell the house? – Richard Answer: You will be able to sell the house eventually,
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What’s the Fastest Way to Improve a Credit Score?

What’s the Fastest Way to Improve a Credit Score?

27th February 2020 | Comments Off on What’s the Fastest Way to Improve a Credit Score?

Buyers may be able to boost their credit scores by 15-20 points in only a few months by paying bills on time and lowering their credit card balance. NEW YORK – The higher your credit score, the better your chance to snag a lower mortgage rate and potentially save tens of thousands of dollars over the life of a loan. But one missed payment or a default can instantly bring a credit score down. “Depending on your credit history, a 15- or 20-point shift could mean the difference between being approved or declined – or better terms or higher costs,”
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What Do Homeowners Fear Most? Unexpected Major Repairs

What Do Homeowners Fear Most? Unexpected Major Repairs

27th February 2020 | Comments Off on What Do Homeowners Fear Most? Unexpected Major Repairs

A survey of 1,500 Americans found that only 18% “don’t have any housing worries.” 1 in 3 worry about major unexpected repairs; 17% fear home prices will go down. NEW YORK – Homeowners are sitting on a record amount of equity, so what has them so worried about housing? A new study by LendingTree surveyed more than 1,500 Americans to gauge their expectations of homeownership. Their No. 1 worry? Upcoming repairs needed on their home. Nearly one-third of respondents (32%) cited major home repairs as their top housing-related worry. More than half of respondents surveyed say that homes are becoming
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Mortgage Rates Decline; 30-Year Loan at 3.45%

Mortgage Rates Decline; 30-Year Loan at 3.45%

27th February 2020 | Comments Off on Mortgage Rates Decline; 30-Year Loan at 3.45%

The coronavirus outbreak spooked markets and investors’ move to bonds pushed long-term mortgage rates lower this week. One year ago, the average FRM was 4.35%. WASHINGTON (AP) – U.S. long-term mortgage rates declined this week as growing concern over the economic impact of China’s viral outbreak spurred a steep downturn in global stock markets. Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage fell to 3.45% from 3.49% last week. Rates are far below year-ago levels: the benchmark 30-year loan averaged 4.35% a year ago. The average rate on a 15-year fixed mortgage slipped to
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When is a closing agent not an escrow agent?

When is a closing agent not an escrow agent?

27th February 2020 | Comments Off on When is a closing agent not an escrow agent?

  By Meredith Caruso It’s not a trick question. An escrow agent oversees just that – escrow – and a closing agent oversees closings. It’s still confusing for a few Realtors, however, because the same person often does both tasks. After a while, these Realtors start thinking they’re the same thing. ORLANDO, Fla. – In completing one of the Florida Realtors contracts, there are spaces for the escrow agent’s information, including name, address, and telephone number. Not only is this information required per 61J2 14.008(2)(b) of the Florida Administrative Code, aka your FREC rules, but it lets the buyer know
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Dear Anne: I Lost My Arbitration – Now What?

Dear Anne: I Lost My Arbitration – Now What?

27th February 2020 | Comments Off on Dear Anne: I Lost My Arbitration – Now What?

By Anne Cockayne Most commission disputes involve two agents who are absolutely certain they deserve the money – but one must lose out. What happens next? Can a local board ask for the funds? Does a procedural review give the losing agent a do-over and new chance to keep the money? ORLANDO, Fla. – Dear Anne: I sat through a four-hour arbitration with my broker and, to my shock, the arbitration panel found in favor of the cooperating agent. I was the listing agent on this deal, and I am the procuring cause of the sale. You would think a
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Rules vs. Access When Screening for Assistance Animals

Rules vs. Access When Screening for Assistance Animals

27th February 2020 | Comments Off on Rules vs. Access When Screening for Assistance Animals

By Joel Maxson A 1988 amendment to the Fair Housing Act added disability as a protected class, and the change continues to spark a lot of Legal Hotline questions. In general, however, accommodation should be the goal rather than searching for a reason to deny. ORLANDO, Fla. – The Fair Housing Amendments Act of 1988 added disability as a protected class when it comes to fair housing. Simply put, that means that housing providers (definition includes owners and rental agents, among others) cannot refuse to make reasonable accommodations in rules, policies, practices, and services to afford a person with a
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Marijuana, Hemp Businesses Bolster Commercial Real Estate

Marijuana, Hemp Businesses Bolster Commercial Real Estate

27th February 2020 | Comments Off on Marijuana, Hemp Businesses Bolster Commercial Real Estate

  Is commercial marijuana real estate investing wise? It’s a high risk/high reward question. In states where it’s already legal, some warehouse values increased tenfold. NEW YORK – Commercial real estate markets across the United States are feeling a positive influence from the cannabis industry as property is bought, sold and leased for medical and recreational marijuana, a new report shows. Hemp also is making waves in agricultural land sales and industrial real estate, agents say. There were desert cities no one cared about until cannabis came along, said Ryan George, founder of cannabis real estate listing site 420property.com. “In
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