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May 21, 2012
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Daily News Articles

  • NAR Reaches Out to Multicultural Real Estate Organizations
    05/19/2012

    A commitment to diversity was one of the prevailing themes of the National Association of REALTORS®' Board of Directors meeting Saturday during the Midyear Legislative Meetings & Trade Expo in Washington, D.C.

    At the meeting, the association formally introduced representatives of outside organizations, including Gerardo Ascencio of the National Association of Hispanic Real Estate Professionals and Kathy Tsao of the Asian Real Estate Association of America.

  • NAR Announces Key Business Mergers, Investments
    05/19/2012

    The National Association of REALTORS® announced several significant business moves Saturday during the Board of Directors meeting at NAR's Midyear Legislative Meetings & Trade Expo in Washington, D.C.

  • Mortgage Rates Sink to New Records Once Again
    05/18/2012

    For the third-straight week, fixed-rate mortgages reached new record lows, pushing home affordability even higher for those who can qualify. 

    "The European debt crisis overshadowed improving economic indicators for the U.S. and allowed Treasury bond yields and fixed mortgage rates to ease for another week,” Frank Nothaft, Freddie Mac’s chief economist, said in explaining why mortgage rates continue to inch down.

  • Housing Starts Post New Gains, Signs of Healing
    05/18/2012

    Builders broke ground on more homes last month as housing starts jumped 2.6 percent nationwide in April over March, the Commerce Department reported this week. 

    The single-family sector saw a 3 percent increase in housing starts in April, while multifamily construction projects saw a 3.2 percent rise. 

  • Committee Puts Copyright Issue Front and Center
    05/18/2012

    The National Association of REALTORS®’ Professional Standards Committee will be asking the NAR Board of Directors to consider a change to Standard of Practice 12-10 — one focused squarely on the increasing number of copyright complaints being lodged against members by content and image owners.

  • Employer-Assisted Housing Opportunities Require a Team Effort
    05/18/2012

    Real estate professionals who want a role with employer-assisted housing programs should not view these opportunities as quick lead generation systems for their business. Rather, “they’re about building communities and helping to make changes in neighborhoods,” said Tammy Murphy, a trainer with the Employer Assisted Housing class run by the National Association of REALTORS®. Murphy spoke during the Housing Opportunities Forum Thursday at NAR’s Midyear Legislative Meetings.

  • Commercial Real Estate Follows Economy Into Recovery
    05/18/2012

    In his remarks yesterday at the Commercial Business Trends Forum during the Midyear Legislative Meetings & Trade Expo in Washington, D.C., NAR Chief Economist Lawrence Yun sounded a cautiously optimistic note regarding the state of the commercial real estate market.

  • REALTORS® Dubbed ‘Conscience of the Industry’
    05/18/2012

    Steps to nowhere are scattered throughout the Lower Ninth Ward of New Orleans — steps that once led to homes. But since the catastrophe of Hurricane Katrina, little rebuilding has been accomplished, says James Perry, director of the Greater New Orleans Fair Housing Center, which he greatly attributes to both systemic and individual cases of housing discrimination.

  • Mortgage Applications Surge 9.2%
    05/17/2012

    Mortgage applications soared 9.2 percent last week, as more Americans sought to take advantage of record low mortgage rates, according to the Mortgage Bankers Association’s weekly report.

    The surge in mortgage applications last week was attributed to a jump in refinance applications, which rose 13 percent for the week. Refinance applications make up nearly 75 percent of all mortgage applications. 

    Meanwhile, mortgage applications for home purchases dropped 2.4 percent last week.

  • Foreclosures Plummet to 5-Year Lows
    05/17/2012

    For the third consecutive month, foreclosure filings dropped, sinking to their lowest level since July 2007, according to RealtyTrac’s April report on nationwide foreclosure activity. 

    Foreclosure activity, which includes default notices, scheduled auctions, and bank repossessions, fell 5 percent from March to April and were down 14 percent year-over-year. 

    "More distressed loans are being diverted into short sales rather than becoming completed foreclosures," says Brandon Moore, CEO of RealtyTrac.