Notarizing Made Easier? Senate Poised to Pass Remote Notarization Act
While the Act appears poised to pass the Senate and become law, its long-term effects on the critical process of notarization for millions of future documents in the decades to come will not be known for some time.
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Pennsylvania Faces High Housing Prices Unless 'Record-Level Building' Happens
"Since 1965 after counting for inflation, home prices jumped 118% - that's after accounting for inflation - vs. a 15% increase in income," Aaron Zappia of the Housing Alliance of Pennsylvania said. "It could take a decade or more of record-level building to meaningfully increase affordability." When not enough housing gets built in a city or county, prices go up. Those rising prices make buying a home or renting harder for lower-income residents, who get outbid by wealthier residents.
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Property title thefts rampant in South Florida, business owner, property appraiser fight back
It only takes minutes for someone to steal your home. South Florida is a hotbed for title thefts. Broward State Attorney Harold Pryor called it one of the easier crimes to commit. One local business owner, however, is stepping up to help protect property owners from fraudsters.
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Title commitments and title policies in commercial real estate transactions
A title policy provides insurance to an insured, typically the buyer and any lender involved in the sale, in the event there is a defect or encumbrance in the ownership rights that the seller thought they could sell. A title commitment is essentially an offer from the title insurance company before the real estate sale has closed disclosing what the title insurance policy they are offering to issue will cover and what risks it will not.
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US home prices could plunge 20% by next summer as a housing recession kicks in, a top economist says
The US housing market is in a recession, and home prices are poised to tumble another 20% by next summer, a top economist has warned. "The plunging trend in sales has further to go, and prices are falling," Ian Shepherdson, the chief economist of Pantheon Macroeconomics, said in a research note published on Wednesday.
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Real Estate Giant Compass to Lay Off Significant Number of Tech Employees
The real estate company Compass is undergoing layoffs Tuesday as part of its plan to "significantly" reduce costs by the end of the year in order to navigate simultaneous downturns in the housing and tech sectors.
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Real estate broker warns of fake property deed scam
Luckily, the real owner of the property signed up for property fraud alerts using the Palm Beach County clerk's website. That will alert land and homeowners if somebody is trying to use their identity to sell their property.
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Home prices see biggest drop in 9 years, thanks to higher mortgage rates
Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month.
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Mortgage demand from homebuyers falls 29% since last year, as interest rates surge past 6%
Mortgage demand appears to have nowhere to go but down, as interest rates go up. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The week's results include an adjustment for the observance of Labor Day. Since last year, homebuyers' demand for mortgages has fallen by nearly a third.
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