Morning Minute: New-home sales take off in July

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Bigstock

U.S. new-home sales climbed 12.4 perecent in July and marked the highest pace since October 2007, Bloomberg reports this morning. The gains exceeded the projections of many economists. Read the Bloomberg article, “U.S. New Home Sales Unexpectedly Surge to Almost Nine-Year High” and similar article from U.S. News & World Report, “U.S. New-Home Sales Climb to Best Level Since Late 2007.”

In other headlines:

Fannie, Freddie revise mortgage app form for first time in 20 years – HousingWire

Some Rent-to-Own Agreements Questioned – New York Times (via REALTOR® Magazine Daily Real Estate News

 

Morning Minute: Test your knowledge of common house styles with this infographic

You can probably easily identify the architectural details of the traditional ranch home, but how about the Neo-Classical design or Stick-Eastlake? Check out this infographic from PartSelect and Ghergich & Co. (via REALTOR® Magazine’s Daily Real Estate News). You’ll learn how to identify some of the common features of different architectural styles and the origins of each. Below is a peek at the PartSelect infographic, but you can find the entire thing here.

Source: PartSelect.com

Source: PartSelect

In other headlines:

The new housing hot spots – Crain’s Chicago Business

‘Old Millennials’ Are Diving Head-First into Homeownership – KCM Crew Blog

What it means to cross the ‘steering’ line in real estate – Inman

Morning Minute: Moving this year? Your expenses could be deductible

Image: Bigstock

Image: Bigstock

If you are moving this year because of a change in your job or business location, your moving expenses could be deductible, according to the Internal Revenue Service (IRS). Read the full tax tip, “Moving Expenses Can Be Deductible,” from the IRS, but here are three basic requirements:

  • Your move must closely relate to the start of work(within one year of the date of the move).
  • Your move must meet the distance test of being at least 50 miles awa.
  • Your move must meet the time test (you work full-time at your new job for at least 39 weeks for the first year or 78 weeks for the first two years if you are self-employed).

In other headlines:

Trade Groups Raise Alarm on PACE Loan Guidance – National Mortgage Professional Magazine

Realtors® Donate Thousands of Hours, Dollars to Local Boys & Girls Clubs – National Association of REALTORS®

Is Your Dream Home Out of Your Price Range? There’s Hope Yet – Realtor.com

Morning Minute: First-time homebuyers pick up in June

First-time buyers are back. In June, 33 percent of residential sales were to first-time buyers, an increase over the month before and a year ago, according to the National Association of REALTORS®. Read more.

In other headlines:

6 Massive Mistakes to Avoid When Moving – Realtor.com

Here are the top 5 ways technology reinvents getting a mortgage – HousingWire

Morning Minute: The Do’s and Don’ts of Using Emojis in Real Estate

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Bigstock

Emojis are everywhere these days and the August issue of REALTOR® Magazine offers some helpful tips for REALTORS® on when and where it can be appropriate to use them for business with the article, “Do you know your emoji etiquette?” Two quick tips: make sure you use the right emoji and don’t assume all your clients will like them. Click here to read the full article.

In other headlines:

Private mortgage insurance explodes, passes FHA – HousingWire

Where Are Home Prices Headed Over the Next 5 Years? – KCM Blog