Feed aggregator

Mortgage Rates Hit All-Time Low

NAR Daily News Magazine - March 6, 2020 - 2:00am

The 30-year fixed-rate mortgage this week fell to its lowest average on record since Freddie Mac began tracking such data in 1971.

Categories: Real Estate

Coronavirus Update: Non-Essential NAR Travel Suspended

NAR Daily News Magazine - March 5, 2020 - 2:00am

Several upcoming events will likely leverage technology to replace in-person meetings on behalf of the association.

Categories: Real Estate

Videos Perform Best on Social Media

NAR Daily News Magazine - March 5, 2020 - 2:00am

If you want to get more attention on social, become a real estate video star.

Categories: Real Estate

Brokerage Touts Virtual Tours Amid Coronavirus Concerns

NAR Daily News Magazine - March 5, 2020 - 2:00am

Some markets have seen significant declines in home tours due to consumer fears of exposure.

Categories: Real Estate

House Flipping Rises Even as Profits Fall

NAR Daily News Magazine - March 5, 2020 - 2:00am

The cost of buying properties has been rising faster than resale gains in recent months, but that hasn’t curbed investors’ appetite to flip homes.

Categories: Real Estate

Mortgage Applications Climb Sharply as Rates Drop

NAR Daily News Magazine - March 5, 2020 - 2:00am

The 10-year Treasury note—which mortgage rates are tied to—dropped below 1% for the first time on record.

Categories: Real Estate

Deadly Tornadoes in Tennessee Leave Real Estate Community in Shock

NAR Daily News Magazine - March 4, 2020 - 2:00am

“It’s like nothing I’ve seen,” says a spokesman with the Greater Nashville REALTORS® of an F3 tornado that ripped through Tennessee on Tuesday. Real estate pros are stepping up to help.

Categories: Real Estate

Announcing the 2020 30 Under 30 Finalists

NAR Daily News Magazine - March 4, 2020 - 2:00am

Web Choice voting opens Friday, March 13, at noon Central time. Find out who’s vying for a spot in the 20th anniversary class of 30 Under 30.

Categories: Real Estate

Deadly Tornadoes in Nashville Leave Real Estate Community in Shock

NAR Daily News Magazine - March 4, 2020 - 2:00am

“It’s like nothing I’ve seen,” says a spokesman with the Greater Nashville REALTORS® of an F3 tornado that ripped through Tennessee on Tuesday. Real estate pros are stepping up to help.

Categories: Real Estate

New Apartment Supply Expected to Reach 30-Year High This Year

NAR Daily News Magazine - March 4, 2020 - 2:00am

Larger markets are expected to see a surge in new units, but many smaller markets are likely to follow.

Categories: Real Estate

Retail Takes Hit Amid Coronavirus Fears From Nervous Shoppers

NAR Daily News Magazine - March 4, 2020 - 2:00am

Americans are getting scared to go to the store as the U.S. faces the potential of a viral outbreak.

Categories: Real Estate

Why Aren’t Mortgage Rates Even Lower?

NAR Daily News Magazine - March 4, 2020 - 2:00am

Mortgage rates follow the 10-year Treasury note, which plunged to record lows last week. But why aren’t rates plunging as low in unison?

Categories: Real Estate

Survey: Americans Fear Identity Theft More Than Murder

NAR Daily News Magazine - March 4, 2020 - 2:00am

Consumers find murder less terrifying than having their identity stolen, a new survey finds.

Categories: Real Estate

Was Too Much Money Deposited Into Your Bank? It May Be a Scam

Daily Real Estate News - March 3, 2020 - 5:05pm

(TNS)—A Troy, Mich., man picked up the phone and a man who called himself Alex Wade was on the line.

Wade, who said he worked at Amazon, claimed that a drastic mistake took place where too much money had been refunded from an earlier purchase and deposited into the man’s bank account.

The man needed to pay back the money or he’d be in big trouble. Wade suggested that the man buy eBay gift cards at a variety of stores, including Walmart, CVS Pharmacy and 7-Eleven.

Was there really a big problem? The caller certainly convinced the man that he needed to rush out to fix things right away.

“The victim never called his bank account to confirm this,” said Sgt. Meghan Lehman, a police department public information officer in Troy.

The 69-year-old man put $1,300 on the eBay gift cards. He spent more money after facing even more pressure tactics. In all, the man lost $6,000 before realizing he had been scammed.

Sadly, the first thing on the to-do list of a scammer is to pretend to be someone, really anyone, else. Maybe the caller pretends to be from the Internal Revenue Service. Maybe it’s someone pretending to be from the Social Security Administration. Maybe it’s someone pretending to be from the 2020 Census.

Or maybe it’s someone claiming to be from Apple Support.

The impostor scam was the most common type of scam reported in 2019 to the Federal Trade Commission. Consumers reported losing nearly $667 million to impostor scams.

Nearly half of U.S. adults have been targets of an impostor scam, according to a new survey by AARP Research, and nearly one in five ended up experiencing health problems or emotional distress from being victimized or targeted.

Three in five adults are concerned that they—or a family member—could fall victim to a scam, according to the AARP survey.

Amazon, for example, warns that specifics of scams vary, but scammers generally follow a pattern of connecting with a victim by phone, email, through social media or online. The swindler will create a sense of urgency, ask for payment using gift cards and even tell you where to buy the cards.

“The scammer then demands or instructs the victim to provide the claim code on the gift card by phone, text message or email—and then disappears,” according to Amazon’s warnings.

Signs of financial manipulation are really everywhere, even though many people are too embarrassed to file a police report or admit that con artists scared them enough to hand over cash and gift cards.

Another victim in Troy lost $1,360 in early February after someone claiming to be from the FBI told her she would be arrested after some mishap with a vehicle in Texas. The woman bought the gift cards, according to the police report, provided serial numbers from the gift cards to the caller and was out a sizable chunk of savings.

Another woman in Troy lost $1,200 in a gift card scam in late January, according to police reports, when an impostor claimed to be from the Social Security Administration and scared her into thinking that there was a warrant out for her arrest and the matter would be resolved with her being issued a new Social Security number.

As scammers get more skilled, police departments state that they’re seeing more of these type of scams every day. And all sorts of people can become victims.

“We’ve had young people, old people, people who are new to the country, people who were born here,” Lehman said. “These scammers are getting more skilled.”

Consumer watchdogs warn that the 2020 presidential election, as well as the Census, could bring new variations of old scams.

Fraudsters already are using phony political fundraising calls to trick Americans into “donating” to a favorite candidate, according to warnings from the Better Business Bureau. The BBB warns that you could receive one of these robocalls, maybe even one that sounds like a presidential candidate.

“According to the recording, rivals have been raising a lot of money. In order to see your favorite candidate elected, you need to donate…immediately,” according to the BBB warning. “If you offer to give, you’ll be transferred to a live person and asked for your credit card information. But your money won’t go to support the political cause. Instead, the phony caller will make off with your money and/or personal information that can be used for identity theft.”

Sure, the calls can sound pretty convincing. Con artists, after all, work overtime at being believable. But remember, only the crooks are demanding you buy them gift cards.

©2020 Detroit Free Press
Visit Detroit Free Press at
www.freep.com
Distributed by Tribune Content Agency, LLC

The post Was Too Much Money Deposited Into Your Bank? It May Be a Scam appeared first on RISMedia.

Categories: Real Estate

What Fed’s Emergency Rate Cut May Do for Mortgage Rates

NAR Daily News Magazine - March 3, 2020 - 2:00am

Today’s interest rate cut is "an appropriate response to changing events,” says NAR’s chief economist. Will lower mortgage rates follow?

 
Categories: Real Estate

Stop Making These Window Washing Mistakes

NAR Daily News Magazine - March 3, 2020 - 2:00am

It’s not as simple as spraying a cleaner and wiping down a window. Here’s how to make those windows shine for your showings.

Categories: Real Estate

Some Homeowners Say Mortgage Forbearance Programs Can Backfire

NAR Daily News Magazine - March 3, 2020 - 2:00am

A new Wall Street Journal article suggests that victims of natural disasters who enter mortgage relief programs may be incorrectly reported as delinquent due to administrative errors.

Categories: Real Estate

Remote Work Option Is Prompting More People to Move

NAR Daily News Magazine - March 3, 2020 - 2:00am

Companies are showing a greater willingness to allow workers to relocate and stay with their job.

Categories: Real Estate

The Real Estate Market Is 3.3M Homes Short, Study Says

NAR Daily News Magazine - March 3, 2020 - 2:00am

Homebuyers may be having a tough time finding a home they want, and the problem could get worse.

Categories: Real Estate

Frozen Homes Encased in 3 Feet of Ice Along Lake Erie

NAR Daily News Magazine - March 3, 2020 - 2:00am

“It looks fake; it looks unreal,” says one resident whose home was covered in thick ice in Hamburg, N.Y.

Categories: Real Estate
Syndicate content