At New Western, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Cities and states across the U.S. are introducing regulations to curtail unethical wholesaling practices. In many ways it’s a positive change that will help weed out the bad actors who tarnish the industry’s reputation. Of course, it also comes with challenges.
Even if new regulation hasn’t come to your market yet, self-regulating your practice can help ensure that you’re wholesaling ethically and are prepared when wholesaling laws and regulations do enter the scene.
“Expanding vaccination efforts, the emergence of warmer weather, and the passing of greater than previously expected fiscal stimulus point to an economy ready to take off,” predicts Fannie Mae® in its latest economic forecast. As for housing, Fannie Mae expects demand to stay strong but with activity moving at a slower pace.
Despite the pandemic-induced economic downturn, home prices have only continued to rise. The Joint Center for Housing Studies recently examined the causes behind the extraordinary hike in prices and possible implications for the future. It’s a must-read for any investor.
Virtual home tours have become an integral part of the homebuying process. “Nearly two thirds (63%) of people who bought a home last year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015,” reports Redfin. The site has also seen a 563% increase in 3D walkthroughs.
Rates on 30-year fixed-rate loans are projected to average about 3.2% over the next three years, according to CoreLogic Chief Economist Frank Nothaft. CoreLogic also predicts millennials will substantially boost the demand for housing and home prices will continue to rise, though at a more modest pace.
Industry experts see the appointment of Janet Yellen as a steady hand for the economy and housing, according to a recent article in HousingWire. “Yellen is a solid pick who can help steer the economy forward, calm the market when necessary and is unlikely to introduce any controversial policy surprises,” said Lawrence Yun, National Association of REALTORS(®) chief economist.
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