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NAR: New condo rules will open more doors for buyers
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Association says FHA financing qualifications changes
will bring more entry-level homes to market
 The National Association of REALTORS®, after reviewing the Department of Housing and Urban Development's new condominium financing rules, says the guidance affords property owners greater flexibility in the qualification process for loans insured by the Federal Housing Administration. Lenders will be able to issue FHA loans for single condo units, and buildings with a greater number of investor-owned units or greater percentage of commercial space can qualify for FHA financing, among other changes HUD released Wednesday. NAR expects the new rules, which will go into effect Oct. 15, to revive a condo market that has been stifled since the Great Recession.
NAR says the new condo rules, which will help more would-be buyers access affordable housing, satisfy many of the changes the association has backed for more than a decade. Click here to see specifically just what the new rules will do. |
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Taxbot webinar scheduled for Sept. 4
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 Did you know that the quickest way to accumulate wealth is lower your taxes to the legal limit? If you could simply keep more of the money you earn, it makes a huge difference. If you don't plug those holes then you are constantly filling a leaky bucket.
Join the upcoming webinar, "Your family is your secret weapon to more tax deductions." The webinar is scheduled for Wednesday, Sept. 4 at 10 a.m. Taxbot attorneys will show you how they have saved clients over a BILLION dollars in taxes in just the last few years... while at the same time, helping them automate their COMPLIANCE so that they are doing things correctly... with the full backing and support of the IRS. Click here for the registration link. |
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Deadlines approaching for NVR state offices, committees, award nominations
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 Nevada REALTORS® committees are comprised of current active members of the association. All interested members are encouraged to identify areas of interest and submit a Committee Interest Form. Our members are the focus of our objectives and they are pivotal to Nevada REALTORS® achieving its objectives. The Association's committees generally meet via conference call and/or video conference. To serve on a 2020 NVR committee, please officially express your interest by Sept. 30, 2019.
Additionally, Nevada REALTORS® members interested in state offices (President-Elect, VP, Treasurer) can click here to see further details on those and potentially apply. The application deadline is Aug. 28.
NVR is also now accepting nominations for 2018 Distinguished REALTOR® Award (NDRA) and REALTOR® Active in Politics award (RAP). The deadline for the NDRA and RAP awards is Monday, Sept. 30. Nominate a deserving REALTOR® today! Click here to submit a nomination. |
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Millennials & Mortgages: Generation struggling with down payments
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LendEDU's study examined millennial homeowners trends, found generation often pays PMI, leaves little room to meet mortgage payments
 When the 2008 Financial Crisis struck, millennials-now between the ages of 23 and 38-were either just old enough to fully grasp the severity of the situation or were well into their careers. It is well documented that the recession was ignited by a subprime mortgage lending crisis. Operating in a wild west lending environment, financial institutions were supplying mortgages to consumers whose finances really should've prevented them from qualifying.
This led to obscenely high mortgage default rates that led to the eventual bursting of the subprime bubble. With millennials having a front row seat to the mortgage-induced financial crisis, LendEDU wanted to better understand how this generation is approaching the home buying experience, specifically as it pertains to mortgages. Click here to continue reading article. |
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