First American Title

The past can be scary. Title insurance can help protect you from events that may have happened prior to you owning your home. Click through below to learn more about what title insurance can protect you from.
Disclaimer: haunting not covered.

Hope is on the horizon for future homebuyers. National affordability improved for the second consecutive month in September 2024, driven by increased household income and lower mortgage rates. Share this post with those who may be looking for good news today.

Don't fall for the hook! Phishing is the top cybercrime reported to the FBI and a major threat to real estate transactions. Do you know how to spot phishing attacks? Stay savvy, look out for suspicious emails, verify sources, and always double-check before clicking.

Commercial real estate, also known as CRE, is the business of space. And with business comes jargon. While we break down the key terms and definitions below, Mark and Odeta take a deep dive into the world of commercial properties on the REconomy podcast. Class is in session, and you can follow along here: https://firstam.us/3WWgaNg

Smart devices are great for making life easier at home, but they also bring some risks. They can boost home security with features like smart cameras and locks, but they can also be exploited by cybercriminals. To protect your smart home, stay on top of updates for your devices and make sure your home network is secure.

Renovations can be full of unpleasant surprises! Tim found out the hard way when his den carpet was sitting on plywood and dirt. City inspections revealed unpermitted additions and required him to spend more money for a complete rebuild to meet regulations.

Curious how Tim turned this setback into a triumph? Check out his story: https://firstam.us/477SB9b

Scammers pose as legit parties to swindle funds, risking financial loss and legal issues in real estate deals. Always verify emails and instructions before wiring funds. Confirm details with trusted sources via phone or in person. Don't hesitate to double-check, it's your peace of mind at stake!

In this milestone centennial episode, the First American Economics team dive into the most common questions they've received over the years and revisit their predictions.

Key highlights from this episode include:
• Commercial Real Estate (CRE): The future of office space post-pandemic and the slow market recovery due to higher interest rates.
• Residential Real Estate (RESI): Strong millennial demand for housing, baby boomers downsizing, and the impact of Federal Reserve's rate cuts on mortgage rates.
• Market Recovery: The slow market recovery is expected to begin in 2025 as more mortgage maturities default, forcing sellers to lower their prices.

Tune into the very special 100th episode today, available on your favorite streaming sites or via our website.

Ever wondered how the housing market stacks up across NFL divisions? Well, we've got the play-by-play for you!

NFC West: Home to the MVPs of the housing market - San Francisco, Los Angeles, and Seattle. These cities are scoring high with the most expensive homes!
AFC North: The underdogs of the market, with Cleveland and Pittsburgh offering the most affordable homes.
NFC South: The comeback kids! Tampa, Fla. and Charlotte, N.C. have seen the biggest price growth since 2019. Talk about a winning streak!

Do you agree with your team’s city stats? Let us know in the comments below.

The type of city you live in can impact a lot of things including housing demand, commuting patterns, and even the decision to work from home.

What type of model is your city? Comment below.

For more information about city models and more, download our Real Estate Economic Guide here: https://firstam.us/3SPfurI

Glitz! Glamour! Title Insurance Scandal? Welcome to Hollywood.

In August, the The Wall Street Journal shared how scammers tried to sell Graceland. This time, a legendary L.A. mansion is the target.

Sarah Frano, vice president and real-estate fraud expert at First American Title, shares with Wall Street Journal that due in part to changes in technology, there has been a sharp increase in title fraud and seller impersonation across the country in recent years. In fact, 28% of title companies reported at least one seller impersonation fraud attempt in 2023.

Stay vigilant by regularly reviewing county records to verify your title, setting up a Google alert of your property’s address to catch any suspicious activity, monitor your credit report for any changes and of course, utilize a professional service to purchase a title insurance policy with fraud coverage.

TLDR: Whether you’re rich, famous, or none of the above, you should always know how to protect your property from fraud.

A Scammer Tried To Seize Graceland. Is This $137.5 Million L.A. Mansion Next? The owners allege a fraudulent deed was executed at Spelling Manor, putting the property in legal limbo.

While there are alternatives to title insurance, nothing protects your biggest investment like title insurance. Learn more here: https://firstam.us/3Zx6Lip

Hackers are on the move every 39 seconds. Keep an eye on your accounts for these telltale signs of a hack:

- You can't log in despite using the correct password.
- You receive MFA codes or access pins without attempting to log into your account.
- Your account activity records show suspicious login times from unknown locations.
- You notice suspicious activity like unknown charges or unrecognized social media posts.

What’s that we see? A glimmer of light in the commercial real estate market?
That’s right, for the first time since 2022 we’re beginning to see increases in CRE lending.

Join economists Mark and Xander as they break down the data in this week’s episode of the REconomy podcast, available on your favorite streaming platforms.

While finances are often a huge factor in the decision to purchase a home, the Five D's of Life are also key determinants of homeownership demand. Do you fall into any of these categories?

A one-time payment for long-term protection? Sounds like a real value. Unlike other types of insurance, you only pay for a title insurance policy once and it will cover you for as long as you own the home (and sometimes even longer!).

Learn more about the cost of title insurance, what could be covered, and when it can be used: https://firstam.us/4dakwqr

Did you miss a Summer School session? Don't worry, we made you a cheat sheet. In fact, we made you a whole guide.

To get started, download the guide: https://firstam.us/3WWgaNg

Mortgage rates are dipping, but is it enough to entice renters to buy?

Read more about the progress toward normalcy, the factors still holding renters back, and the optimism for the future here: https://firstam.us/3ZmxPAL

Did you know that overly restrictive zoning can limit housing supply and drive higher prices, a dynamic we're seeing in today's market?

In this week’s episode Mark and Odeta delve into the rich world of urban economics, discussing everything from zoning regulations to the dynamics of different city types, as well as exploring the potential impact of remote work on these traditional urban models.

Be sure to tune in! Available on your favorite platforms or our website: https://firstam.us/4gtX8GY

Good news: While the housing market flirted with a recession in May and June, it didn’t fully commit.

Better news: July and August data hint that the peak risk of a housing recession may be behind us.

Read to learn more about what defines a housing recession, the history of recessions in the U.S., and how we may narrowly avoid one in 2024: https://firstam.us/4e0o5Rc

Where did you stay during your summer vacation this year? Chances are you stayed in a commercial property. But what exactly makes a property "commercial"?

Find the answer to this question and more in our handy dandy Summer School Guide. Download today: https://firstam.us/3WWgaNg

Recently named a 2024 HousingWire Insider, SVP and Chief Innovation Underwriter Justin Earley shares a peek behind the curtain of the development of Galileo, a revolutionary platform and toolset built for underwriters by underwriters that ultimately helps protect our customers.

To learn more about how Galileo came from concept to fruition, read the full article here: https://firstam.us/4e20xL9

While the 30-year fixed-rate mortgages are popular in the U.S. housing market, did you know that they aren't available everywhere?

To learn more about the history and lifecycle of mortgages, tune in to the Summer School Series on the REconomy Podcast, available via Spotify, Apple Podcasts or our website: https://firstam.us/3Z1QUIc

Pop Quiz! Did you know that homeownership is the primary driver of wealth creation in the country? Did you also know that a potential Federal Reserve rate cut could mean some hope is on the horizon for first-time homebuyers?

While Mark and Odeta talk through everything you need to know about homeownership on the REconomy podcast, you can follow along by downloading the companion guide here: https://firstam.us/3SPfurI

Please welcome Marx Elias. Marx will be taking on an expanded area of business with the departure of Rikki Puzzuoli, our friend and colleague, as she pursues other adventures outside of First American Title.

To learn more about Marx, please visit his website at https://local.firstam.com/mi/reps/melias or check him out on LinkedIn https://www.linkedin.com/in/marx-elias-9ab29b87/.

We wish Rikki the best and we know Marx will meet or exceed the excellent level of service you’ve come to expect.