Hello REALTORS®, I hope by the time you read this Watchdog Report, you won’t need to read this Watchdog Report.  If no action is taken, the Federal government will shut down on September 30.  The Federal government has shut down 14 times since 1980.  Most of those were in the 80s, and most shutdowns have only lasted a few days.  But the last shut down, in 2018, lasted 34 days.  When the Federal government shuts down, Realtors and their clients are affected. In this Watchdog Report, I will outline some of the government programs important to Realtors that will be...

Monthly Indicators Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR). New Listings were up 3.5 percent to 743. Pending Sales decreased 3.7 percent to 540....

Hello REALTORS®, I know when you read about Flood Insurance, many of you are reminded of the movie Ground Hog Day starring Bill Murray.  I feel your pain, but unfortunately the National Federal Flood Insurance Program (NFIP) is set to expire, again, on September 20, 2023. The National Association of REALTORS® joined the CCIM Institute, Institute of Real Estate Management, Mortgage Bankers Association, and National Association of Home Builders in a joint letter to Congress on September 8 urging a long-term reauthorization of the NFIP.  Since 2017, the NFIP has been renewed 25 times using continuing resolutions, and it has...

Watchdog Report Hello REALTORS®, NIMBY: Not In My Backyard.  I am sure you have heard the term.  Most of us have been a NIMBY at some point.  It is understandable.  We like our neighborhood, and we don’t want it to change.  Sometimes we become concerned about our property value, although that hasn’t been a legitimate concern recently. My favorite similar term is BANANA: Build Absolutely Nothing Anywhere Near Anything.  For most people, we don’t have a problem with new development, we just don’t like it near us where it adds to our commute time or replaces the hundred-acre wood we...