Ready for some BAM good news?
Real estate can be pretty fickle, and constant negative news about mortgage rates, home prices, and layoffs can get people down.
Each week, we’re giving you the most uplifting and positive news in real estate. This industry can be tough, so here are some of the bright spots from February!
Yardi Pledges Earthquake Relief
In response to the catastrophic earthquakes in Turkey and Syria, the property management software Yardi has donated $1 million to support the humanitarian relief efforts being carried out by four prominent global non-profit organizations operating in Turkey and Syria.
Disasters of this magnitude require global support, and we feel fortunate to be able to assist financially in the recovery efforts. These four organizations are doing incredible work to support the earthquake victims in their time of need.
The organizations Yardi is supporting include:
- Direct Relief, which is delivering medical supplies from its facilities.
- Doctors Without Borders, which is providing medical assistance to patients.
- World Central Kitchen has been diligently providing meals to both survivors and first responders in the aftermath of the catastrophic earthquake.
- Red Crescent/Global Red Cross: Thousands of Red Cross and Red Crescent volunteers are providing an array of critical services.
Reduced Mortgage Insurance Premiums and Fees
This month, the Biden-Harris administration announced a reduction in mortgage insurance premiums by 0.30%. In 2023, this is expected to help an estimated 850,000 borrowers save an average of $800 per year.
But that’s not the only news affecting borrowers this month. The VA also announced it is reducing the “VA funding fee” of VA loans. While it’s not a huge reduction, every bit helps buyers in today’s market.
Students Surprise School Janitor
After learning their 80-year-old school janitor was forced out of retirement due to rising rents, three students took to social media to fundraise online. The final result? With some help from @goodnews_movement, over $270,000 was raised, sending Mr. James home for good.
Have an uplifting story to share? Email contributors@nowbam.com with good news the real estate industry needs to know about!
