Servais Real Estate

02/09/2024

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) has proposed a new regulation aimed at addressing money laundering in the residential real estate market. This regulation would require real estate professionals to report information about non-financed sales of residential properties to legal entities, trusts, and shell companies to FinCEN.

Cash purchases of residential real estate are considered to pose a high risk for money laundering. FinCEN states that illicit actors exploit the anonymity of the U.S. real estate market to launder and conceal proceeds from serious crimes, leading to inflated housing prices that burden law-abiding Americans.

Real estate transactions are frequently used for money laundering due to the lack of transparent reporting regulations. The impact of criminal activities on housing affordability is currently being investigated. One study in Canada found that money laundering investments in real estate increased housing prices by approximately 3.7% to 7.5%.

02/07/2024

REAL ESTATE

15-year: 6.31%
30-year: 6.96%

​​​​​*Mortgage rates via Mortgage News Daily

01/31/2024

This article highlights that foreclosure activity continues to remain below normal levels, reflecting a positive outlook for the housing market.

Despite worries about the expiration of foreclosure moratoriums, data suggests ongoing stability.

Factors contributing to this include improved economic circumstances, government support initiatives, and options like forbearance for homeowners.
While some areas may see slight upticks in foreclosures, the overarching trend points to a more robust housing market compared to prior years.

Have you seen headlines talking about the increase in foreclosures in today’s housing market?

01/29/2024

REAL ESTATE

15-year: 6.31%
30-year: 6.90%
​​​​​*Mortgage rates via Mortgage News Daily

GEN Z HOMEOWNERS:

Redfin discovered that approximately 26.3% of individuals belonging to Generation Z, aged 19 to 25, possessed a home in 2023.

Where do the majority of these homeowners reside? According to an analysis by Point2Homes, Las Vegas, Nevada, and Chesapeake, Virginia, exhibit the highest rates of young homeownership among major U.S. cities.

Approximately 1 in 3 Gen Z residents own a home in these locales.
"Gen Zers have conducted thorough research. They are well-versed in real estate terminology and are entering the housing market more informed than previous generations," stated Redfin.

01/23/2024

Mortgage rates, as reported by Mortgage News Daily, stand at 6.23% for a 15-year term
6.87% for a 30-year term

On the commercial real estate front, approximately 20% of offices across the United States are currently vacant, marking the highest vacancy rate on record.
In San Francisco, the vacancy rate soared to 35.9% in December.

The International Monetary Fund (IMF) attributes the significant decline in commercial real estate prices to a combination of sharp monetary tightening and the impact of remote work trends, which have adversely affected the value of office spaces.

01/18/2024

I am extremely excited for my client who made the decision to invest in multifamily!

11/20/2023

Fannie Mae is now allowing a 5% down payment for owner-occupied 2- to 4-unit multifamily homes. A significant reduction from the 15-25% requirement previously. The change applies to various financing options, with a maximum loan amount of $1,396,800. This is huge and is a positive step towards making multifamily homeownership more attainable.

Discover how Fannie Mae's groundbreaking policy change in multifamily financing is empowering mortgage borrowers.

09/28/2023

REAL ESTATE

15-year: 6.93%
30-year: 7.65%

​​​​​*Mortgage rates via Mortgage News Daily

09/28/2023

Where would you like to relocate to? Let's consult the internet!

Based on the latest Google search trends, here are the top 5 cities that people are currently exploring as potential destinations for their new homes:

1. Austin, Texas
2. Charlotte, North Carolina
3. New York City
4. Los Angeles
5. Nashville, Tennessee

Conversely, these are the top 5 cities that individuals are considering leaving:

1. Los Angeles
2. Denver
3. New York City
4. Louisville, Kentucky
5. Chicago