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- Existing Home Sales Reach Highest Point Since 2006
- Mortgage Rates Surge for Third Consecutive Week
- Mediation Workshop Features Interactive Panel Discussion
- Appraisal Discrimination
- Elect toĀ Finish Your Continuing Education
- Norristown Tightens Contractor Licensing Restrictions
- Calendar of EventsĀ
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Existing Home Sales Reach Highest Point Since 2006In a year of sky-high demand, existing-home sales recorded a banner year with the sale of 6.12 million units. This reflects an 8.5% surge from 2020, itself a year that experienced unprecedented demand, according to data released by the National Association of REALTORSĀ®.
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Not taking advantage of your member-benefit Inman Select account? CLICK HERE for information on how to activate!
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Mortgage Rates Surge for Third Consecutive WeekMortgage rates are on the rise in the new year, just like economists predicted. The 30-year fixed-rate mortgage, which is up 45 basis points in less than a month, averaged 3.56% last week, compared to 3.11% in the last week of 2021.Ā
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Related News! Average Size of Mortgage Loans Hits Record High? CLICK HERE for the full article!
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šMediation Workshop Features Interactive Panel DiscussionWhat is Mediation and Why Mediation Works | February 15, 10-11:30amMediation is a process for resolving disputes where an intermediary (the mediator) helps conflicting parties have a conversation to jointly resolve the parties' concerns. In this interactive session, a panel of mediators will demonstrate what mediation is (and is not) and why it works!Ā
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Tri-County Suburban REALTORSĀ® continues to be committed to producing programming for our members as well as communicating additional opportunities provided by other allied organizations. Discover upcoming free workshops and webinars!
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Appraisal DiscriminationSince 2019, there has been a tenfold increase in complaints of discriminatory home appraisals reported to HUD's Office of Fair Housing and Equal Opportunity. Recent news stories, research and investigations have all documented instances of homes in majority Black neighborhoods or owned by Black families being undervalued compared to similar white-owned homes.
Our local fair housing colleagues at the Housing Equality Center of Pennsylvania have received and are tracking allegations of bias in our region. If you or someone you know believes they may have experienced appraisal discrimination in the purchase or refinance of a home, contact HECP at 267-419-8918 or by using their " Report Discrimination" form. If you see or know of something, say something. Working together we can make a difference.
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Elect to Finish Your Continuing EducationThe Pennsylvania Real Estate Commission requires all real estate licensees to complete 14 hours of education each renewal period. Once you have completed the required 3.5 hours in the commission-required topic, you may choose any 10.5 hours of elective courses that interest you. The Association of REALTORĀ® School offers a wide variety of elective courses and locations including the following upcoming options:Ā
- February 4, 1:30-5pm, In Person | Haverford, Making Sense of the Seller's Property Disclosure
- February 8, 1:30-5pm, Livestream via Zoom, Working with Financially Distressed Homeowners in a Post-COVID World
- February 16, 1:30-5pm, In Person | Kulpsville, Handling the Multiple Offer Scenario Without Abandoning Our Duties
- February 23, 9am-12noon, In Person | Kennett Square, Agency and Fair Housing
- March 1, 1:30-5pm, In Person | Malvern, Agreement of Sale and Related Addenda
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Norristown Tightens Contractor Licensing RestrictionsThe Municipality of Norristown has updated its code of ordinances regarding the regulation of building contractors. Ordinance 21-12 replaced Chapter 251 of the municipal code, formerly titled "Building Contractors," with a new chapter titled "Contractor Licensing." The updated code restricts who is able to perform work in the municipality, including a requirement that demolition, plumbing, electrical and HVAC contractors provide "proof of license from Philadelphia or another jurisdiction acceptable to the License Officer" - or if they are unable to provide such a license, pass an exam with an additional fee. The ordinance sets up a fee schedule and lays out exceptions for property owners working on their own property. Norristown also recently updated its regulations regarding sewer lateral inspections and lead paint inspections.Source: Norristown Municipality: 12/2021
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February 1 AND 2, 9am-5pm, In Person | Malvern, Real World Real Estate (fulfills the real estate commission's prescribed education requirements for all licensees during their first renewal)
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It's Time to Get SocialāØ
Did you know Tri-County Suburban offers both a Facebook PAGE and a Facebook GROUP?Ā
- Our PAGE provides first views of news, events, statistics and additional up-to-the-minute information.
- Our GROUPĀ provides interactions with fellow Tri-County Suburban members in a private setting JUST for YOU!Ā
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