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Redfin Report: May Real Estate Market the Fastest on Record; Prices Up 6.3%
The typical home that sold in May went under contract in 34 days, according to Redfin (www.redfin.com), the next-generation real estate brokerage. May broke April's record of 36 days, which was the fastest month Redfin had recorded going back to 2010. Amid the speed, the national median home sale price rose to $305,600, a 6.3 percent increase from May 2017 across the 174 markets that Redfin tracks.
May New Home Purchase Mortgage Applications Decreased 0.5 Percent Year over Year
The Mortgage Bankers Association Builder Application Survey (BAS) data for May 2018 shows mortgage applications for new home purchases decreased 0.5 percent compared to May 2017. Compared to April 2018, applications decreased by 4 percent.
AccuSearch Company
Statement from NAHB Chairman Randy Noel on Congressional Lumber Letter
Randy Noel, chairman of the National Association of Home Builders and a custom home builder from LaPlace, La., today issued a statement on a congressional lettersigned by 171 members of Congress urging the Trump administration to restart lumber trade talks with Canada.
More than 30 Percent of Multifamily Development Cost Attributable to Regulation, According to New Study
Regulation imposed by all levels of government accounts for an average of 32.1 percent of multifamily development costs, according to new research released today by the National Association of Home Builders and the National Multifamily Housing Council. In fact, in a quarter of cases, that number can reach as high as 42.6 percent.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 1.5 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 8, 2018. Last week's results included an adjustment for the Memorial Day holiday.
MBA Research Releases Report on Current Trends in Commercial and Multifamily Mortgage Financing
Mortgage Bankers Association Research today released a market overview highlighting the current trends in Commercial/Multifamily real estate finance. The report identifies headwinds and tailwinds the market will face in the coming months, summarizes the available data on current market conditions, and discusses the different sources of capital playing a role in the market now.
New Appraisal Institute Book Examines Changes in Real Estate Market
When market volatility creates problems, real estate appraisers must develop a deeper understanding of the valuation process and a greater ability to handle a wide variety of assignments, according to a new book published by the Appraisal Institute.
Redfin Mortgage Launches in Georgia
Redfin Mortgage, LLC is now offering loans to homebuyers in Georgia, announced Redfin Corporation, the next-generation real estate brokerage. Redfin Mortgage offers fixed- and adjustable-rate conforming mortgages as well as jumbo loans for higher-priced homes in every state where it operates.
Wire Fraud Takes Aim at Wider Field, Hammers Home Construction Industry
Wire fraud is growing its range of targets, with the home building industry increasingly in its crosshairs, according to a new white paper published by CertifID.
Simplifile Makes Inc. Magazine's List of Best Workplaces 2018
Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, today announced that it has been named by Inc. magazine as one of the Best Workplaces for 2018.
Quick Links
In May's red-hot housing market, homes sold in record time
If a "for sale" sign goes up in your neighborhood, don't blink, you might miss it. The average home sold in May went under contract in just 34 days, according to real estate brokerage Redfin.

The 0.25% Fed Rate Increase Doesn't Mean Mortgage Rates Will Increase 0.25%
Just because the Fed rate went up 0.25% doesn't mean the 30-year fixed-rate mortgage rate will go up 0.25%.

Higher home, mortgage prices mean first-time buyers are paying 19 percent more each month
Nationwide home prices are almost 7 percent higher than a year ago. And the average long-term mortgage cost has risen by seven tenths of a percentage point interest compared with this time in 2017, according to CoreLogic.

'I Backed Out of Buying My Dream Home'-and You Won't Believe Why
"Apparently, no one else had bothered to get a survey, so this only came up when we decided to do one just to be safe," she says. "We couldn't get title insurance unless the entire neighborhood went through an entire resubdivision, which could take years!"

Hammond likely victor in deeds Democratic primary
A long time title researcher, Hammond is senior title insurance underwriter and closer at Atlantic Coast Title, LLC and has worked for the company for more than three decades.

Two Michigan Libertarian governor candidates walk into a bar.
Longtime Libertarian activists Bill Gelineau, a title insurance agent and former party chairman, and John Tatar, a retired Army Reserve lieutenant colonel and teacher, are running to be their party's candidate for governor.

Feds arrest dozens in sweeping action against hackers targeting wire transfers
The "Nigerian prince" who emailed you and offered millions of dollars in exchange for helping them get money out of the country may have just been arrested on wire fraud charges.

US house prices are going to rise at twice the speed of inflation and pay: Reuters poll
An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth.


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Top Consumer Watchdog Places Bureaucracy Ahead of Consumers... Literally.
Source of Title Blog
2018/04/26
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