Bias against FHA, VA loans hurts most vulnerable buyers

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Bias against FHA, VA loans hurts most vulnerable buyers | How buyer agreements boost your value, fend off claims | Most cities still seeing home price gains, but it's slowing

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May 9, 2023

Top News

Bias against FHA, VA loans hurts most vulnerable buyers

FHA Special Policy Advisor David Sanchez discusses the stigma around FHA loans at the Fair Housing Policy Committee meeting. (National Association of REALTORS®)

Sellers who refuse to accept offers from buyers with certain types of financing are denying homebuying opportunities to those who need them the most, experts say. Full Story: REALTOR® Magazine (5/9)

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Best Practices in Sales & Marketing

How buyer agreements boost your value, fend off claims It's an opportunity to explain to your clients what your role is in the transaction and how they'll benefit from your services. Full Story: REALTOR® Magazine (5/5)

ChatGPT and Generative AI in Financial Services
Payments, banking, and insurance players are eager to understand generative AI's potential and put it to work. In this report, we delve into how generative AI could affect the financial services space, identify the most and least promising use cases, and define steps providers can take to prepare for its rise. Purchase the report here and use ChatGPT100 for $100 off.

Real Estate Trends

Most cities still seeing home price gains, but it's slowing However, 31% of metros saw prices fall—some as much as 10%—amid a slowdown in sales in the first quarter, new NAR data shows. But those declines could be short-lived. Full Story: REALTOR® Magazine (5/9)

Sellers' preparation pays off with 2 offers on first day Listing agent Robin Pope helped clients receive two offers within 24 hours of listing this Ontario property. "The sellers had done a lot of work to declutter and make sure it was well presented," Pope said. Full Story: The Globe and Mail (Toronto) (tiered subscription model) (5/8)

Owner asks $55M for former estate of Jackie O's family Eileen O'Neill of the Corcoran Group is one of the listing agents for the Hamptons estate that was the childhood summer retreat for Jacqueline Kennedy Onassis. Asking price for the 7-acre estate is $55 million. Full Story: The Wall Street Journal (5/8)

Business Wellness

Don't wait to reimburse employee expenses, exec advises Employers who dawdle to repay employee expenses risk losing stellar workers who are frustrated by resulting dings to their personal financial history, writes Jim Conroy, CEO of The Neat Co. Establish a budget, a tracking system and other guidelines for reimbursable expenses, which often include professional dues, travel and tools, Conroy advises. Full Story: Entrepreneur (5/8)

Fair & Equitable Housing

Washington opens door to multifamily developments Washington has moved to legalize the development of multifamily housing in most communities, the latest step taken to address a chronic shortage of affordable housing in the state. The state law overrides local zoning restrictions. Full Story: Star Tribune (Minneapolis-St. Paul, Minn.) (tiered subscription model) (5/8)

Legislation & Regulation

AI needs thoughtful regulation to prevent catastrophe Artificial intelligence expert Jeff Turner warns that the technology is advancing so rapidly that the real estate industry is behind on figuring out its most equitable uses. Full Story: REALTOR® Magazine (5/9)

U.S. debt clash worries small-business owners If the U.S. defaults on its debt because Congress fails to raise the limit, 65% of small-business owners expect trouble for their companies, according to a Goldman Sachs survey. "They're creating anxiety at a small-business level that is extraordinarily damaging to our small-business psyche," business owner Gloria Larkin says. Full Story: CBS News (5/4)

Fed still has obstacles to navigate before soft landing Federal Reserve Chair Jerome Powell believes the unflinching strength of the labor market is smoothing the path for Fed policymakers to achieve a soft landing for the U.S. economy. However, certain key obstacles could affect the outlook, including a potential credit crunch from recent banking-sector turmoil and the continued standoff over the debt ceiling. Full Story: Bloomberg (5/7)

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About The National Association of REALTORS®

The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.

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