A growing Fannie Mae ‘blacklist’ is paralyzing home sales

 
 

A growing problem is preventing condominium owners from selling their properties. Many condos are being added to a “blacklist” by Fannie Mae due to the properties not having enough insurance or needing major repairs.

If a condo is on this list, it’s significantly harder for prospective buyers to get a mortgage, making it nearly impossible to sell.

Recent coverage from the Wall Street Journal detailed several sellers’ experiences when attempting to close listings due to the blacklist, which is maintained by Fannie and includes properties that the GSE deems inadequate in terms of property insurance or repairs.

This blacklist became more of a prevalent issue after the 2021 deadly Surfside condo collapse in Florida. Insurance premium crises across the country in places like California, Texas and Florida are exacerbating the costs associated with locking in coverage.

As a result, more and more condos are failing to meet Fannie Mae’s requirements, which are strict about the level of insurance needed. WSJ found that 5,175 properties fail to meet Fannie Mae’s standards.

To lower high insurance costs, many condo associations are choosing cheaper, limited insurance policies. The downside is that many of those pared-down policies don’t meet Fannie and Freddie Mac’s standards

Insurers and regulators agree that climate risks could threaten mortgage borrowers’ creditworthiness and wallets, with soaring premiums and sticker shock leading to dropped deals in weather-event-stricken states. Some lenders and insurers have abandoned markets altogether.

WSJ showcased Shadow Ridge, a Los Angeles-based condo complex that was blacklisted in December due to its shared insurance policy with other complexes, which Fannie Mae rejects. Getting a separate policy for the complex, which is within a brushfire area, would increase monthly homeowner fees from $570 to over $1,100, WSJ reported.

A spokesperson for Fannie told WSJ its requirements are designed to “help protect borrowers from physically unsafe or financially unstable projects,” and disagreed with the characterization of Fannie’s database of projects as a blacklist but rather an online tool. Freddie Mac also denied having a list.

Read more at Housingwire

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9 Things to do in Colorado this St. Patrick's Day weekend

 
 

Colorado will go green this weekend with St. Patrick's Day celebrations planned across the Centennial State. Festivals and parades will take place in Denver, Colorado Springs, Greeley, Arvada and more.

Denver Restaurant Week continues through Sunday, the Avalanche and Nuggets continue their playoff push at Ball Arena, and Estes Park celebrates a frozen corpse.

Check out one of these fun events across Colorado this weekend:

Frozen Dead Guy Days

ESTES PARK — One of the country’s quirkiest winter festivals is returning this weekend. Frozen Dead Guy Days will be held for a third-straight year in Estes Park. Events are planned all weekend and the main festival with live music and entertainment will be at the Estes Park Events Complex on Saturday. Festival favorites include the Blue Ball, competitive Coffin Races, polar plunge and the Bands & Bloodys Sunday Brunch.

The festival pays homage to Grandpa Bredo Morstøl, a Norwegian man who was cryogenically frozen after his death and housed in a shed on dry ice above Nederland. The festival moved from Nederland to Estes Park in 2023. In 2024, Grandpa Bredo Morstøl was moved to The Stanley Hotel in Estes Park. He is now the feature exhibit of the International Cryonics Museum, which explores the history and science of cryonics. Tickets to the museum are $20.

Denver St. Patrick's Day Parade

DENVER — The 63rd annual Denver St. Patrick’s Day Parade will be held Saturday beginning at 9:30 a.m. rain or shine. The parade will begin in downtown Denver at the corner of 19th and Wynkoop, turning left on 17th Street to Blake Street, marching east on Blake and before ending at 27th and Blake at the Coors Field parking lot. Dress in layers and arrive early to get a great spot along the parade route.

Olde Town Arvada St. Patrick's Day Festival

ARVADA — The free Olde Town Arvada’s St. Patrick’s Day Festival is back on Saturday from 12 p.m. to 6 p.m. Saturday. The all-ages street festival offers food, vendors, beer and live performances from Centennial State Pipes and Drums, The McDeviants, Stomp Street Heist, Eric Golden Band and more. There will also be kids’ activities and street entertainment.

Colorado Springs St. Patrick’s Day Parade

COLORADO SPRINGS — The 41st annual Colorado Springs St. Patrick’s Day Parade steps off at 12 p.m. Saturday in downtown Colorado Springs. The parade features Celtic bands, marching bands, dancing groups, schools, charities, businesses, runners, cyclists and more. This weekend’s St. Patrick’s Day festivities also include the 5K for St. Patrick’s Day Run through downtown. Kids will enjoy the Leprechaun Fun Run at Acacia Park.

Blarney on the Block

GREELEY — The 11th annual St. Patrick’s Day Barney on the Block celebration kicks off at 2 p.m. Saturday. The Blarney Parade begins at 2:30 p.m. for a short route. Held on the 9th Street Plaza, the festival features live Irish music and bagpipes, kids’ activities and more.

St. Paddy’s Parade & Festival

WELLINGTON — The inaugural St. Paddy’s Parade & Festival will be held on Saturday in downtown Wellington. The event will feature a fun run, St. Paddy’s parade, vendor festival, live music, access to local businesses and other family friendly activities. The parade begins at 11 a.m. along with a vendor festival at Centennial Park.

Green Street - St. Paddy's Day Pet Parade

DENVER — The 2nd annual Green Street - St. Paddy's Day Pet Parade is set for Saturday at 2 p.m. The pet parade route runs from 590 29th Street, proceeding down Welton Street, and concluding at Sonny Lawson Park. The parade will be led by the Denver Brass Band. After the parade, the celebration ends with a bar crawl featuring local establishments, live DJs, performers and spoken-word artists.

St. Pittie's Day Pub Crawl

DENVER — Denver Animal Shelter will hold its St. Pittie’s Day Pub Crawl on Saturday. Visitors to the Denver Animal Shelter at 1241 W. Bayaud Ave. can purchase a $25 T-shirt that will grant access to discounts at 14 participating bars and restaurants, mostly along Broadway in Denver and Englewood. Denver Animal Shelter is offering $17 adoption fees all March long for pit bulls and pit bull mixes over 6 months old.

ShamROCK Stampede

CASTLE ROCK — The 7th annual ShamROCK Stampede is Saturday. The event offers a 10K, 5K, and free 1K Kid’s Sham-Scram Family Fun Run. The event at the Douglas County Event Center will have local breweries and food, local bands and awards. A complete event schedule is viewable at ShamRockStampede.com.

Read more at 9NEWS

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11 Ways to Bring Good Luck Into Your Home—And Avoid Bad Luck

 
 

Maybe you’re the type of person who knocks on wood to stop yourself from jinxing. Or you keep an amethyst crystal on your nightstand in hopes of absorbing anxiety to help you nod off. In one way or another, these behaviors are linked to capturing positive energy.

"Superstitions give one a sense of control in a complex, apparently impersonal, and largely unpredictable world," says Phillips Stevens, Ph.D., professor of Anthropology Emeritus, State University of New York at Buffalo and author of forthcoming book Rethinking the Anthropology of Magic and Witchcraft (Routledge). The idea that an action or an object can prevent something bad from happening is a type of magical thinking. When it comes to the home, certain cultural do's and don'ts are tied to the idea of universal order—balance and harmony, the yin and the yang. The inside of a home should be peaceful and comfortable, to counteract the potentially risky and unpredictable outside world. As a result, each culture has created rituals, ways that capture the transition and transformation from outside to inside.

Take the ubiquitous superstition: opening an umbrella inside. Everyone knows it’s bad luck, right? But why? Stevens explains that, since an umbrella is an object related to bad weather, bringing it inside is akin to inviting the storm in. Better leave it in the foyer, closed, until it's needed.

In addition to magic superstitions, there are also sign superstitions that believers interpret as messages from the universe, such as seeing a black cat cross one’s path. "Some prefer the term 'folk beliefs', as superstitions can be a pejorative term," says Tok Thompson, PhD, professor of anthropology and communications at University of Southern California in Los Angeles and author of Posthuman Folklore. "Some superstitions are later proven by science to be true, and then are no longer superstitions but scientific belief. Likewise, science can change its mind, and what is scientific belief at one point can become superstitious belief later. In general, superstitions are beliefs about the world, and about what causes what, that are not approved by science."

One of the reasons people still believe in superstitions today is habit and routine. Think of it this way, if you always get up on the same side of the bed and get coffee but one day you crawl out on the opposite side and skip your coffee, your day might feel a bit off. Or if your favorite team wins the playoffs when you're wearing a particular t-shirt, you might feel inclined to wear it again the next time they play. "Persistent behaviors give you a sense of control and that’s terrifically important when processing the world at large," Stevens continues. That's why if you do something out of turn and the day isn’t great, it can be attributed to the anomaly, especially one that is dubbed a taboo. "Superstitions are a part of folklore, and have been around for a long, long time. Way longer than writing," Thompson continues. "But they change, die out, and new ones emerge."

The bottom line in our view: Better safe than sorry! To keep your household running smoothly, read on for 11 things to try so that your house is full of good juju.

Make The Most of Mirrors

You've certainly heard that breaking a mirror is bad luck. That's because it is believed that the looking glass absorbs what it sees. "The mirror contains an image of what is in its line of sight, and if a mirror gets broken, that image is damaged too," Stevens explains.

Shattering aside, when you decorate with mirrors, consider where the reflection falls. Avoid placing it directly across your bed, as some traditions believe that the soul leaves the body during sleep and can spook itself, causing tossing and turning. Feng shui principles echo the idea of disruption since your energy flow is bounced back to you. Similarly, don't put the mirror across from the entryway, as it can prevent good energy from coming in.

Keep Hats Off of Beds

The hat, much like the umbrella, is thought of as a symbol of protection from outside elements, and should be left in the foyer or a coat rack. Dropping it in the very personal space that is the bedroom can bring havoc and mess with intimacy. Back in the day, women might call the priest or an exorcist to cleanse the space from "temporal elements," Stevens says.

Bring In Some Horns

Horns are universally powerful because they project power and protection. "Even little antlers can have the same attributes," Stevens says, and so can horseshoes, which represent horns. To bring a little protection into your space, you can either place a decorative horseshoe above a doorway or perhaps get some mod faux taxidermy, like this gilded resin moose sculpture.

Give Ghosts (and Guests) Something to Read

Worried about spirits knocking around at night? Keep them busy. Stevens notes that people in rural communities once believed that they could manipulate ghouls by pasting pages from phone books all over the walls to give wandering souls something to read, distracting them from causing mischief. Similarly, placing an open book, like the Bible, in a front hallway or near a bed was thought to keep ghosts from haunting. "Words represent literacy, and newly literate people believe that spirits, like them, want to read," Stevens notes. "Sacred words have power; power emanates from an open Bible; it’s the sacred power that keeps spirits away."

For a modern interpretation, look for text posters to add to your gallery wall, frame the ketubah or invitation from your wedding, a botanical print, or any other artwork that contains words. And maybe add a framed map so that they can really get lost in the details and forget all about you.

Arrange Flowers in Odd Numbers

A dozen roses are nice, but for luck purposes, 11 or 13 blooms may be better. A common Russian superstition is that bouquets should always have an odd number of flowers, as even numbers are used in funerals. If you are given a dozen roses, perhaps pull one and place the solo stem in a separate vase. And if you follow Swedish superstitions, skip heather (Calluna vulgaris) in a bouquet. The taboo flower is associated with death.

NEVER Put Shoes on a Table

Seems like a no-brainer because shoes are dirty, but even if you have new shoes, keep them off your dining, coffee, or end table. This superstition goes back to England. When a coal miner died in an accident, his shoes went on the table to honor him. Placing a pair on a table for no reason is considered a way of messing with fate and could result in a loss of a job or a quarrel. (The latter totally makes sense because someone is going to get yelled at for putting dirty footwear where you eat.)

Powerfully Position Your Bed

Feng Shui experts will tell you that the "command position" is the optimal place to put the bed in your bedroom. You want to see the door, ideally at a diagonal, but not be in front of the door, which is called the "death position," because feet-first is how the dead are carried out. Having the door in your line of vision is said to be protective and also awaken creativity, since your energy is not blocked.

Save the Spiders

As the old English nursery rhyme says, "If you wish to live and thrive, let the spider run alive." Some consider spiders as protectors of the house, so killing one is a bad omen. The arachnids are also said to be spirit guides for creativity, artistry, and writing—as anyone who has read Charlotte’s Web already knows. If you prefer not to reside with an eight-legged roommate, catch it in a container and it into nature.

Sweep Strategically

In Belgium, sweeping dirt out of your home is a don't in case you can also sweep out your luck. In the American South, some say that it is bad luck to sweep under a sick person’s bed, as you could be spreading their misfortune. Folks in Russia used to say that you can't sweep (or clean, in general) until your guest has safely returned home. The jury is out on whether or not running a Roomba counts as sweeping.

Don't Dine in the Dark

Eating in a dark room is an invitation for demons to join, according to Ugandan folklore. It can cause grave misfortune, and should the lights go out during your meal, it is wise stop eating right away. Regardless of whether you believe this or not, it’s pretty sound advice that will likely keep you from choking.

Clean the Commode

According to Zen philosophy, since the toilet is guided by water, an element associated with wealth, keeping it clean means you’ll be um, flush with cash.

Read more at House Beautiful

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7 Four-Leaf Clover Facts to Know for St. Patrick’s Day

 
 

Today, looking for four-leaf clovers is a St. Patrick’s Day tradition, but have you ever wondered why they’re considered lucky—or how they came to be associated with the holiday? How rare are four leaf clovers?

It turns out, the story behind the clover dates back hundreds of years before we began drinking green beer and pinching friends who didn’t wear green on the holiday.

What Is a Four-Leaf Clover and Why Are They Lucky?

The four-leaf clover (officially known as Oxalis deppei) is a small plant with four distinct leaves. It’s a rare variation of the common three-leaf clover, and because your chances of finding one with four leaves is about 1 in 10,000, they’re considered lucky.

Four-leaf clovers have been around for ages, and their supposed lucky powers are talked about in centuries-old legends. In the early days of Ireland, Celtic priests known as Druids carried three-leaf clovers, or shamrocks, in the belief that with their help, they could see evil spirits approaching and be able to escape. Four-leaf clovers, then, were Celtic charms, offering magical protection and warding off bad luck. Children in the Middle Ages believed they might be able to see fairies if they carried a four-leaf clover.

The Difference Between Four-Leaf Clovers and Shamrocks

Both shamrocks and four-leaf clovers are associated with St. Patrick’s Day, and they’re commonly confused as the same thing. A shamrock is a clover with three leaves, but the four-leaf clover is considered lucky due to its rarity. Shamrocks are still an important part of the holiday, and there’s a deep religious significance that explains why we celebrate St. Patrick’s Day with shamrocks.

Fast Facts About Four-Leaf Clovers

  • There are approximately 10,000 three-leaf clovers for every “lucky” four-leaf clover.

  • There are no clover plants that naturally produce four leaves, which is why four-leaf clovers are so rare.

  • The leaves of four-leaf clovers are said to stand for faith, hope, love, and luck.

  • It’s often said that Ireland is home to more four-leaf clovers than any other place, giving meaning to the phrase “the luck of the Irish.”

  • If you’re lucky enough to find a four-leaf clover, look for more! If a clover plant produces a four-leaf clover, it’s more likely to produce another one than plants that only produce shamrocks.

  • The fourth leaf can be smaller, or a different shade of green, than the other three.

  • If you’re the superstitious type, give your four-leaf clover to someone else. It’s said that this will double your good luck.

Best Ways to Celebrate St. Patrick's Day

There are so many ways to honor St. Patrick's Day, like making festive crafts, playing fun games, making green drinks, or whipping up a hearty Irish stew. Get into the lucky holiday spirit with a green mint matcha milkshake or a super yummy shamrock cookie. Don't forget to put on a festive St. Patrick's Day playlist while you celebrate!

Read more at Better Homes & Gardens

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Gen Z still eager to buy homes, but getting weary

 
 

Now in its fifth year, the 2025 ServiceLink State of Homebuying Report (SOHBR), released today, revealed that while Gen Z remains eager and ready to buy a home this year, high mortgage rates and home prices could deter them from crossing the finish line.

Out of Gen Z respondents, 67% said they plan to purchase a home this year compared to 51% of millennials, 49% of Gen X and 22% of baby boomers.

But Gen Z also led all respondents in their willingness to walk away under difficult buying conditions, as 58% said they abandoned the home-buying process in 2024, and 38% said they were unsuccessful in their attempt to purchase in the last four years.

ServiceLink’s annual survey analyzes generational trends among recent and prospective homebuyers, tracking housing market sentiment and their intentions to purchase, refinance or leverage home equity this year.

“These findings show that there is still a strong appetite for homeownership, particularly among the youngest generation, despite the ups and downs of today’s market,” said Dave Steinmetz, president, origination services at ServiceLink. “Today’s buyers need to be armed with information, while demonstrating patience and flexibility, [to] achieve their dream of homeownership. For lenders, this provides an opportunity to tap into technology and increase offerings that buyers indicate they want to see. Lenders also should focus on education and increasing transparency to meet the current needs of today’s buyers.”

Despite Gen Z’s waning tolerance for home-buying challenges, 41% of all respondents said that they believe conditions are favorable for buying a home this year. Gen Z led the way with 52% having a favorable outlook on the market, while only 23% of baby boomers felt the same.

Buyers’ willingness to buy with high mortgage rates is fading this year, ServiceLink found. Gen Z respondents reported having an average mortgage rate of 5.1% and said they would consider going as high as 5.8% — down from 6.3% last year.

Millennials are also becoming less open to higher rates, with their ceiling dropping to 5.5% from 6.2% in 2024. However, millennials are pulling back their desires to purchase a home, with 51% of millennials still planning to buy in 2025, down from 2024’s 59% and 2023’s 61%. Only 46% of millennials said conditions are favorable to buy in 2025, a pessimistic slip from 60% in 2023.

However, Gen X survey responses indicate a renewed interest in buying a home in 2025. This year, 49% of Gen X respondents said they plan to buy, up from 45% in 2024, 25% in 2023 and 12% in 2022.

Space and technology are hot commodities

Of the pool of respondents who plan on purchasing a home within the next year, 60% said they’re looking for a home with more space, a 17% uptick from a year ago, while 39% of respondents said they would like to see more physical space between homes.

Over half (51%) of respondents also cited small home size as a deal breaker. Other top deal breakers include higher taxes (48%), lack of privacy/homes too close together (43%) and lack of outdoor space (33%).

The respondents also have expectations of their lenders to be technologically savvy as they navigate their home purchase. The biggest benefits of mortgage technology, according to 59% of respondents, is the convenience and ease of use it provides, while 51% said they like that it saves them time and 45% enjoy the flexibility that it offers to make progress on their own schedule.

Many respondents (62%) cited eSigning technology as something they utilized during the home process. Baby boomers leveraged eSigning the most at 70% compared to 42% of Gen Z respondents.

Read more at Housingwire

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