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RE Rundown (7/23/20)

Heard of The First-Time Homebuyer Pandemic Savings Act? Well, the House of Representatives just passed it ✍️; it’s allowing first-time homebuyers to take funds out of their retirement accounts tax-free and put them towards their down payment. An obstacle down 💪for the younger generations.

We’ve set it before, and we’ll say it again. Buyers are taking advantage of record-low ⬇️mortgage rates, and June’s existing-home sales are here to prove it. Despite the highest monthly gain ⬆ on record, unemployment remains high. The question now is how long this “strong sales pace” will last.

Check out Google’s new mortgage tools. They teamed up 🤝with the Consumer Financial Protection Bureau to help people shopping for mortgages. It includes an overview, calculator, rates, refinance, process, and more sections to make home-buying a lot easier👍.

Looking for a home with a guest house? Turns out Florida, California, Texas, and Georgia account for half of the 1.4 million permitted ADU’s in the US. In today’s economy, they are becoming a more viable affordable housing option 💲.

❗️Attention all apartment renters❗️ The big, open light and views 🌆 that can come with moving to a studio apartment might be worth looking into. Read about how a couple that downsized from a two-bedroom to a studio does not regret their decision, even after months of quarantine.



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