Morning Minute: Access to mortgage lending is improving, NAR survey finds

U.S. lenders eased standards in the second quarter of of this year, expanding access to mortgage loans for more qualified borrowers, according to a new survey of lenders by the National Association of REALTORS® (NAR). Read more in the NAR blog post, “Spring’s Mortgage Market Thaw Continues This Summer.

In other headlines:

MBA: Housing demand to surge over next 10 years – HousingWire

U.S. housing market seen strong enough to handle Fed rate hikes: Reuters poll – Reuters

Housing, Consumer Confidence Are Bright Spots in U.S. Economy – Wall Street Journal

Morning Minute: NAR identifies six factors to watch in housing

U.S. home sales and prices rose higher in July and the National Association of REALTORS® (NAR), highlights six factors affecting the housing market today including all-cash sales accounting for less of the market and still low housing inventory. Click here to read more and see the other four factors from NAR.

In other headlines:

CoreLogic launches “homeowner intelligence tool” for lenders – HousingWire

DeKalb County home sales up 25.8 percent – Daily Chronicle

Morning Minute: What’s a hot home feature in Illinois? Finished basements

Homeowners in different states value different features in their homes. In North Carolina, front porches are a must-have while homeowners in Kansas place a high value on homes with wet bars. Realtor.com looked at single-family property listings in the 50 states to determine some of the most popular features geographically.

In Illinois, finished basements topped the list with 11 percent of listings including the feature. Read more in the realtor.com blog post, “Wet Bars, Hot Tubs, and More: What Home Feature Rules in Your State?

In other headlines:

Housing market remains strong – Pantagraph

Elmhurst proposed capital budget focuses on stormwater projects – Chicago Tribune

Borrowers Make Fewer Late Payments – REALTOR® Magazine

Morning Minute: Moving for work? You could qualify for moving expense tax deductions

Image: Bigstock

Moving because of your job? Then you may be able to deduct some of your moving expenses, according to a new Internal Revenue Service tax tip sheet 2015-20, “Moving Expense Deduction.”  You must meet three requirements:

  • Your move must closely relate to the start of work and in most cases, you can count qualifying expenses within one year of the date you started at your new job location.
  • Your new job location must be at least 50 miles farther from your old house than your prior job location.
  • You must work at your new job for at least 39 weeks the first year after the move. The same rule applies if you are self-employed.

In other headlines:

Rauner vetoes change in condo law – Crain’s Chicago Business

CoreLogic: Cash sales drop to 32% of all home sales in May 2015 – HousingWire

Chinese-American Buyers Cite Feng Shui as Key – NAR Daily Real Estate News