What is an Appraisal?
Buying a home is commonly an individual’s most significant purchase. A buyer will often turn to a real estate agent for guidance during the home buying process, particularly because historically the seller pays the buyer’s...more
In our latest roundup, mortgage rates drop to lowest levels since March, hotel construction activity highest since February 2023, Biden administration calls for legislation regarding property owners, and more!...more
The Government of Canada has announced a two-year extension to an existing ban on foreign ownership of Canadian housing. The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) was set to expire...more
In Part 7 of our build to rent (BTR) Series, we take a look at the current BTR market in Australia and the potential impacts of BTR developments on the residential sector....more
It is common understanding that the Australian Government has historically resisted policy changes to reduce tax barriers to a successful build-to-rent (BTR) sector, for fear of being viewed as favouring institutional and...more
On June 8, 2023, Bill 97, the Helping Homebuyers, Protecting Tenants Act, 2023 (Bill 97) received royal assent. Bill 97 was initially introduced April 6, 2023 as part of Ontario's Helping Homebuyers, Protecting Tenants...more
On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of...more
The Washington Supreme Court recently published an opinion that appears to invalidate any homebuyer warranty that requires the buyer to file suit in less than six years. In Tadych v. Noble Ridge Construction, Inc., the owners...more
Key Highlights - - The proposed legislative changes are part of the government's long-term strategy to build 1.5 million new homes in Ontario within a decade. - Some of the key changes in Bill 23, if passed, will have...more
Fires have played a major role in the history of California. Not only have these disasters repeatedly left a trail of devastation through the State’s forests and other natural areas, but recent fires have been noteworthy in...more
While the butt of many jokes and a thorn in the side of some property owners, homeowners associations (“HOAs”) serve the vital function of collecting and disbursing funds to care for and maintain common areas of residential...more
McMillin Albany LLC v. Superior Court, No. S229762, 2018 Cal. LEXIS 211 (Jan. 18, 2018) - Several homeowners (“Plaintiffs”) brought suit against developer/general contractor McMillin Albany LLC (“McMillin”) for alleged...more
The Bipartisan Budget Bill of 2018, which President Trump signed into law on February 9, 2018, has extended the Energy-Efficient Homes Credit for homes sold before December 31, 2017. The extension allows builders a $2,000...more
Florida homeowner insurers are seeing a significant increase in claims and litigation and are seeking ways to avoid costly litigation and expedite the claims process for their insureds. One option for the insurer is to...more
Last April, my colleague Anthony Guardino blogged about the Town of Southold’s local law banning “transient rental properties”, which Southold defined as dwellings that are rented out for less than fourteen nights at a time. ...more
Following his transfer to Houston, Ruel Benda decided to keep his posh gated neighborhood Rodeo Drive house and started advertising it on AirBNB. His profits were so good that he began renting for 7 days or less. Insisting...more
In an effort to encourage water conservation throughout California, Gov. Jerry Brown recently signed a bill into law that will require the owner of any multi-unit residential development constructed after Jan. 1, 2018 to...more
The Federal Deposit Insurance Corporation (FDIC) has published multiple resources to help community bankers learn more about single-family housing products offered by federal agencies and government-sponsored enterprises. The...more
Over the summer, Brad Bevos’ company relocated him from Austin to Springfield, Illinois. A University of Texas alum and huge Longhorn football fan, the move bummed Brad because he won’t be able to attend home games this...more
Cranes, cement trucks, and street closures seem to be everywhere these days, especially in city centers such as San Francisco and Los Angeles. After the meltdown of 2006, real estate development went into hibernation for...more
On October 19, 2015, the Federal Housing Finance Agency issued a Final Notice indicating that it will continue to use “expanded-data” House Price Index when establishing Freddie Mac and Fannie Mae’s maximum conforming loan...more
In remarks yesterday at the Mortgage Bankers Association’s annual convention, CFPB Director Richard Cordray stated that the CFPB may need to look more closely at vendors of software and other tools used by lenders to comply...more
REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more
New data from the Mortgage Bankers Association (MBA) shows that total mortgage applications decreased 27.6 percent from the previous week as a result of CFPB’s TILA-RESPA integrated disclosures (TRID) rule, which became...more
The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the FFIEC member agencies during the initial months following the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule...more