There’s a flurry of activity in the nation’s capital to clamp down on U.S. workers that are misclassified as independent contractors. What does this mean for those who work in the real estate industry?
No one likes it when changes to mortgage underwriting make it harder for working households to secure safe and affordable home financing. But in the case of the FHA’s tightened lending requirements announced in late January, the end may justify the means.
The Supreme Court of Wyoming ruled that the owners of a sprawling Wyoming cattle ranch acted in bad faith by replacing their longstanding broker after he assembled a promising deal, and were wrong to deny him commission when the deal closed.
The short-sales process, often agonizingly long, may not speed up overnight, but there’s reason to believe that better days are ahead. The federal government’s long-awaited guidelines for standardizing short sales were released at the end of last year.
When Byron Stookey and his wife were looking at houses several years ago in Brattleboro, Vt., they found a place they loved. But the price was high and there was space on the second floor they didn’t really need.
Their solution was to spend a little more up front to convert that space into a separate unit and use the rental income to help cover their real estate taxes...
If 2009 was the year of economic recovery, 2010 will be the year of growth. Thanks to solid gains in the lower end of the housing market, the first-time home buyer tax credit, and the rebounding stock market, lenders in mid–2009 began cautiously lending money beyond the safe Fannie Mae, Freddie Mac, and FHA loans on which they relied for income during the credit crunch.
A brokerage whose trademarked logo involved a rectangular design with red, white, and blue horizontal stripes was ordered to cancel its use of the logo because it stood to be confused with the trademarked logo of RE/MAX International Inc.
An Iowa appellate court ruled that a broker is entitled to his commission in a failed short sale of a warehouse because the lender acted in bad faith by waiting until closing to demand a larger share of the proceeds.
The Idaho Supreme Court has ruled in favor of a real estate broker whose commissions totaling nearly $1 million were in jeopardy after a developer claimed that the listing agreements were invalid due to insufficient property descriptions.
Banks are looking for more money down and better credit scores—exactly the opposite of what many households are capable of bringing to the table because of the struggling economy. That puts real estate practitioners who are familiar with rent-to-own transactions in the perfect position.
A New Jersey court ruled that a seller, who had entered into an exclusive right-to-sell listing contract, doesn't have to pay the commission on a transaction that closed after a protection period on the agent's agreement expired.
The U.S. District Court for the Northern District of Alabama ruled that a brokerage that charged an administrative fee in addition to its commission violated section 8(b) of the federal Real Estate Settlement Procedures Act.