How vacation homes are adapting for a post-COVID-19 world | Improving credit score is an 'actionable' way to lower costs | Cooling market has silver lining for clients
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How vacation homes are adapting for a post-COVID-19 world These investment properties need a whole new set of amenities that complement the current reality, including space to spread out and top-notch Wi-Fi connectivity for remote workers. Helping clients make a smart purchase requires attention to a different playbook than in years past. Full Story: REALTOR® Magazine (8/2)
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Improving credit score is an 'actionable' way to lower costs Amanda Pendleton, a consumer finance expert at Zillow Home Loans, advises buyers to take steps to increase their credit score as an "actionable" way to lower costs. "It really does pay off for a buyer to take steps to improve their credit score and also shop around for a mortgage as we see rates climb," Pendleton said. Full Story: CNBC (8/4)
Cooling market has silver lining for clients Stacey Evoy, president of the Ontario Real Estate Association, says clients are under less pressure as the market slows, a change from recent years when sellers would see multiple offers and be forced to find another place to live quickly. "I would say that we're getting back to a healthy market, one where both sellers and buyers have advantages. It's more of what we would call a fair market," Evoy says. Full Story: The Globe and Mail (Toronto) (tiered subscription model) (8/4)
Pictures: $21M Idaho listing Trent Jones of Hall and Hall is the listing agent for the 700-acre Billingsley Creek Ranch, one of the few private hunting retreats in southern Idaho. The main house has six bedrooms in addition to a guesthouse. Full Story: The Wall Street Journal (8/4)
Equity in mortgaged homes above 50% in Q2 A record 48.1% of American home buyers owned at least 50% of the equity in their property in the second quarter, according to real estate data provider Attom. Despite the cooling housing market, it appears "likely that homeowners will continue to build on the record amount of equity" for the rest of the year, said Attom Rick Sharga, executive vice president of market intelligence. Full Story: Bloomberg (8/4)
Housing boom means higher costs for renters Rents are going up across the country as buyers driven out by high prices have turned to renting, though watchers say rents could stabilize this year as the broader market cools. Average rent in New York City, for example, is $5,812. Full Story: CBS News (8/4)
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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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