National Association of Realtors: Key Benefits for Home Buyers in 2024
The National Association of Realtors (NAR) offers a wide range of benefits for home buyers. These extend beyond property transactions, including advocacy and access to exclusive resources. NAR supports buyers through every stage of their journey. As 2024 ends, the real estate market remains dynamic, influenced by election-year trends and regulatory shifts. Here are recent updates and advice for buyers and homeowners.
National Association of Realtors and DOJ Settlement: What Buyers Should Know
The National Association of Realtors has settled with the Department of Justice (DOJ) regarding buyer broker commissions. Previously, sellers disclosed and offered commissions to buyer’s brokers through Multiple Listing Services (MLS). This practice is no longer required. Now, buyer’s agents must negotiate their compensation directly with buyers.
This shift introduces more paperwork and potential negotiation. While NAR has appealed to the Supreme Court to halt additional changes, the DOJ continues to investigate NAR policies. For more details, visit the National Association ofRealtors website.
San Diego Offers Free Title Monitoring Services
San Diego homeowners can now access free title monitoring services through the county recorder’s office. This service notifies owners if changes are recorded against their property, a safeguard against real estate fraud. Private companies previously charged up to $30 per month for similar services.
California Home Insurance Crisis Affects Real Estate
Home insurance challenges are impacting California’s housing market. According to the California Association of Realtors’ 2023 Annual Housing Market Survey, nearly 7% of transactions failed due to buyers being unable to secure affordable insurance. Major insurers, including State Farm and Allstate, have stopped issuing new policies or canceled existing ones, citing fire hazards and increased risks.
If you’re struggling to find insurance, contact Rayna Mack at 619-922-2524 for personalized recommendations based on local expertise.
San Diego Real Estate Market: Trends and Opportunities
San Diego’s real estate market is competitive yet balanced. As of September 2024, home prices have risen slightly from last year due to limited inventory and strong buyer demand. However, higher mortgage rates are influencing both buyers and sellers. Buyers are more cautious, and sellers are adjusting their expectations.
Despite these shifts, San Diego remains a desirable location for homebuyers. Explore local market insights on the RaynaMack Real Estate Blog for more information.
Stay Informed to Make Better Real Estate Decisions
The real estate landscape is constantly changing. Policies like those from the National Association of Realtors, free title monitoring services, and home insurance challenges all affect homebuyers and sellers. Staying informed can help you navigate these complexities.
For expert guidance, reach out to the Rayna Mack Team at 619-922-2524. Whether you’re buying or selling, Rayna Mack is a trusted Realtor in San Diego, ready to assist with your real estate needs.
