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Jon Stewart on MERS

Posted by Andrew Kantor
May 8 2013 - 10:16am

It took a while, but Jon Stewart finally got around to doing a segment on the Mortgage Electronic Registration system.

Why the "R" is so much more than a logo

Posted by Andrew Kantor
May 7 2013 - 2:58pm

VAR launched two REALTOR® image commercials today.  The spots have received great feedback so far. We are testing them first in the Richmond market and hope to continue to air around the state in the near future.

One is focused on the REALTOR® pledge and the other on what a REALTOR® can do for the consumer, both resulting in the Realtor logo/brand being a promise.  So… look for the R…look for the REALTOR® promise.

Check them out (bet you’ll recognize some faces too) and let us know what you think!

Study finds discrimination across Virginia

Posted by Andrew Kantor
May 1 2013 - 10:39am

Despite the law, Latinos are still receiving “adverse treatment” across Virginia — that’s the result of an investigation across Virginia by the Equal Rights Center and the law firm of Drinker Biddle & Reath.

Essentially, they conducted “matched-pair” test inquiring about rental properties. That means they sent ‘equivalent’ whites and Latinos to ask about the same properties — ages, martial status, income, etc., were the same.

“In 55 percent of tests,” the report found, “the Latino tester received adverse, differential treatment as compared to the white tester, in at least one respect.”

Picturing first-time home buyers

Posted by Andrew Kantor
May 1 2013 - 9:39am

Two cool graphics about first-time home buyers. The first comes from Southern California’s Nick "The Realtor" Nguyen (click to see the full-sized version on his site):

http://www.nick-realtor.com/wp-content/uploads/2013/04/First-Time-Home-Buyer.jpg

And the second comes from real estate "online workspace" Doorsteps (also click to see the full-sized version:

Home ownership at lowest rate in 18 years

Posted by Andrew Kantor
May 1 2013 - 9:17am

Nothing more to say — this is all over the news. A new report from the Census Bureau found that home ownership in the U.S. dropped to its lowest level since mid-1995, as more people rent rather than buy.

Quoth Bloomberg:

Bill would remove roadblock for mobile-home loans

Posted by Andrew Kantor
Apr 29 2013 - 4:30pm

A bill being introduced in Congress by Reps. Joe Donnelly (D-IN), Stephen Fincher (R-TN), and Gary Miller (R-CA) is trying to fix what the legislators feel is an unintended consequence of new rules from the Consumer Financial Protection Bureau that cover "predatory" or "high-cost" loans.

Here’s the deal: Mobile or manufactured homes typically cost a lot less than a typical suburban property. Basic math means that the cost of originating and servicing loans for those properties might be the same in terms of dollars, but are much higher, percentage-wise, in a small loan.

VAR's first quarter home sales report is now available

Posted by Andrew Kantor
Apr 24 2013 - 4:29pm

The first quarter 2013 Virginia Home Sales Report has been released and year-over-year state wide indicators show that the housing market in Virginia continues to experience steady improvement.

Immigrants key to housing (and economic) recovery

Posted by Andrew Kantor
Apr 24 2013 - 1:00pm

Interesting story in the Financial Times about how immigrants to the U.S. have not only been key to the housing recovery, they will remain key to the market. It’s based in part on a report from Housing America and the Mortgage Bankers Association.

Some key points:

Master bedroom? Oh, no

Posted by Andrew Kantor
Apr 24 2013 - 11:10am

It’s not small, it’s “cozy.” It’s not in the middle of nowhere; it’s “private.” It’s not poorly insulated and falling apart; it’s “rustic.” And now, as Cindy Jones over at Virginia Real Estate Talk points out, for some developers you apparently don’t have a master bedroom — you have an “owner’s suite.” No word on what that means for rentals. Hopefully your landlord doesn’t snore.

Investors helped the market — but may be hurting its future

Posted by Andrew Kantor
Apr 23 2013 - 9:10am

Real estate investors have helped the market recover. But for the long-term health of the market, maybe they should stop now.

(To be clear: By “investors” I mean people and companies that buy single-family homes to turn them into rentals, not house-flippers.)

Here’s what’s worth watching: When all those foreclosures went on the market at deep discounts, investors began snapping them up. That was a good thing, because there was so much inventory out there that prices were staying low.

Once most of that distressed inventory was gone, though, conventional wisdom said that investors would ease off. Prices would go up and the great deals would be gone.