NATIONAL FLOOD INSURANCE PROGRAM SET TO EXPIRE
The current authorization for the National Flood Insurance Program is set to expire at the end of September 2017. Both the National Association of REALTORS® and the California Association of REALTORS® are working with Congress to pass a long-term extension. So far, the House Financial Services Committee has passed a package of bills that would extend the NFIP and make reforms to financially strengthen it. N.A.R. is working with members of Congress to improve those bills.
If Congress does not pass a long-term extension to the program, C.A.R. and N.A.R. are hopeful Congress will pass a short-term extension that allows them to continue to work on a larger reform package that includes a long-term extension.
Lets hope they get this figured out quickly!
Securing your online accounts is vitally important. The consequences of being hacked can be great — someone could lock you out of your email account. If that account is used for password recovery for your other accounts, then a hacker could get access to all of those as well. There are a few basic things that you should make sure you do to protect your email account:
1. Provide a secondary email address for recovery.
2. Provide a phone number for password recovery.
3. Turn on 2 Factor Authentication.
Turning on 2 Factor Authentication is the most important thing to do. Even if someone does guess your password, they will still need the six digit code from Google authenticator on your phone or tablet, and that will stop hackers cold.
If you do end up getting hacked, the first thing to do is create a new email address. Then sign into all of your other online accounts and change the password recovery email address to the one you just created. You should also contact the company's support and have them verify your identity in another way. While recovery questions are rather insecure themselves, if you did set them up, they could help prove your identify as well.
Facebook recently has implemented a new security measure where you can designate three trusted contacts for password recovery. If you forget your password, Facebook will send each friend a code, and you'll need to get all three codes to get back into your account. I recommends reading these three articles on what can happen when your accounts are hacked:
Kevin Roos: I dared two expert hackers to destroy my life. Here's what happened.
Mat Honan: How I Resurrected My Digital Life After an Epic Hacking
What we give away when we log on to a public Wi-Fi network
The REALTOR® Party is a powerful alliance of REALTORS® and REALTOR® Associations working to protect and promote homeownership and property interests. The REALTOR® Party speaks with one voice to advance public policies and candidates that build strong communities and promote a vibrant business environment.
Why Inventory Is the Lowest It’s Been in 20 Years
By Suzanne De Vita
Housing demand continues to outstrip supply, with shortages now at their worst in 20 years. Why?
The answer is simple: Homeowners are happy where they are, according to a new survey by realtor.com®. Sixty-three percent of homeowners surveyed say their current house meets their needs, with baby boomer homeowners especially unwilling to move—a problem for succeeding generations, who are missing out on the 33 million condos and single-family houses boomers currently own. An overwhelming 85 percent of boomers surveyed have no plans to list their home for sale in the next year, with 72 percent reporting that their existing house suits their needs. Sixty-five percent of Gen X homeowners and 52 percent of millennial homeowners echoed the same sentiment.
Homeowners overall also see no need to uproot, the survey shows. Sixteen percent are not moving up due to their low mortgage interest rate (and 13 percent due to their low property taxes), 15 percent are remaining in place because they recently bought their home (a reason reported by 27 percent of millennial homeowners), and another 13 percent are staying put to make upgrades.
“Life events drive real estate transactions,” says Danielle Hale, chief economist for realtor.com. “When the majority of homeowners feel their family needs are being met by their current home, there is nothing compelling them to put their home on the market.”
Many are hesitant to sell, as well, because they know how high-priced and scarce homes are.
“Boomers indeed hold the key to those homes the market desperately needs, both in the urban condo and the detached suburban home segment,” Hale says. “But with a strong economy and rising home prices, there’s really no reason for established homeowners to sell in the short term. Although downsizing might be on the minds of boomers, they face the same inventory shortages and price increases plaguing millennials.”
Fifty-nine percent of millennial homeowners surveyed have no plans to list their home for sale in the next year, but 35 percent do—and, of those, 60 percent are looking to trade up. If their plans pan out, the housing market could gain a boost in entry-level stock.
“The housing shortage forced many first-time homebuyers to consider smaller homes and condos as a way to literally get their foot in the door,” says Hale. “Our survey data reveals that we may see more of these homes hitting the market in the next year, but whether these owners actually list will depend on whether they can find another home.”
More than 60 percent of the real estate brokers in RISMedia’s 2017 Power Broker Survey reported limited inventory as their most challenging issue.
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