Sure Tests Real Estate

Understanding Redlining versus Blockbusting (Laws of Agency topic)

Redlining is the practice of denying services or increasing the cost of real estate to residents in certain, often racially determined, areas. Blockbusting is the practice of encouraging homeowners, usually white, to sell their homes at a sub-market price because of the threat of minorities moving into the area.

Both Redlining and Blockbusting have been problems that have plagued the American Housing Market dating back to the early twentieth century. While racial discrimination has almost always existed in U.S. housing market, the act of persuading white homeowners to sell their properties at a loss in order to create a profit for real estate agents gained its reputation post WWII. The goal of “blockbusters” was to scare white homeowners to sell their houses at a loss to minorities causing a domino effect throughout a specific area effectively creating a short, yet booming, market for the agents and developers of the time.

http://suretestsagent.com/index.php/Blog/2014/03/21/understanding-redlining-versus-blockbusting-laws-of-agency-topic.html

This is a great write-up from Steve Provosts at Suretestsagent.com regarding exactly what is to be expected in a dual agency deal.

http://suretestsagent.com/index.php/Blog/2014/03/21/dual-agency-what-you-need-to-know-for-the-real-estate-broker-exam.html

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Bad news for first time home buyers. FHA max loan limits have been decreased across the country. Check out your county’s limits here where HUD has published the new figures.