Monday, October 21, 2019 / by Vanessa Saunders
When hiring a REALTOR®, be sure he or she is skilled in the type of property transaction you intend to make. The truth is, different real estate dealings come with different regulations, and if your agent isn't an expert in the type of transaction you're conducting, it could come back to bite you not only during the transaction buy down the road as well.
Here's a real-world scenario as related to us by Pearl Insurance, our risk management specialists, in which an agent well-versed in residential sales decided to venture into commercial sales and ended up being sued.
A real estate agent with a successful background in residential sales received a request from a light manufacturer to help locate a new business space to rent. The agent had been selling residential homes for over 30 years, and he welcomed the opportunity to finally put his commercial real estate knowledge to use.
The agent was considered an expert in residential tr ...
Tuesday, February 12, 2019 / by Vanessa Saunders
Increased immigration has been found to be a surprising key factor in the growth of the American economy through 2030, says a recent real estate study. Plans to block or limit immigration will cast a shadow of negative growth on the real estate industry and the general economy.
A recent study conducted for the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) by Hoyt Advisory Services estimated housing demand through 2030. As part of the study, immigration was considered as one source of future demand for U.S. housing. A surprising conclusion in the study as reported by by the Counselors of Real Estate organization (CRE), was how critical immigration will be to the growth of real estate in the United States.
According to the CRE, "Immigration is currently providing approximately 45% of the U.S. population increase, and in a few years could provide more than 50% of the net new housing demand. Because of aging, U.S. population growth, incl ...
Wednesday, January 23, 2019 / by Vanessa Saunders
If you don't work directly for the U.S. government, you may think that the shutdown will have little impact on you, but the effects may be more far reaching than you think. The shutdown includes all non-essential government employees and the many departments they represent. Some of these departments are directly related to the mortgage process. If you are selling a home, your buyer could directly be affected. Furthermore, if you are buying, the process may be stalled until there is some resolution. Regardless, the government shutdown will have a negative impact on the real estate market.
The following departments which provide real estate related services will be negatively affected by the shutdown:
Environmental Protection Agency
Under EPA's shutdown plan (link is external), most employees are now furloughed. This will affect various regulatory programs and compliance activities, such as wetlands determinations under the 404 program and enforcement of the lead-based paint d ...
Wednesday, November 14, 2018 / by Vanessa Saunders
A large percentage of our clients come to Global Property Systems from abroad to find a home in the United States. Many come seeking Green Card status through the EB-5 Visa Program, which offers resident visas to foreigners who are starting, investing in or purchasing U.S. businesses. As a result, we encounter immigration problems pretty frequently. Our go-to attorney for immigration issues is Steve Maggi, lead attorney and CEO of SMA Law. He wrote recently about the Trump administration's attempts to limit immigration from a legal standpoint, which we found explained what the current administration is attempting to do and why they can't, legally, do it.
Regarding so called Anchor Babies, Maggi said, "President Trump began railing against the dangers of “anchor babies” and “chain migration” when he ran for President and he continues to use
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