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Smile at your next open house, you could be on camera

Posted by Mehran Aram on Thu, Nov 15, 2018 @ 15:11 PM

It’s called the “Internet of Things” or IoT. It’s the concept that the physical world around us – devices, objects, vehicles and even houses – are connected to the world wide web. As smart-homes have grown in popularity, home camera systems have grown more affordable and common in households. As a result, a growing number of realtors and house-hunters are reporting that these cameras scattered throughout some homes, make them uneasy.

When touring a home, buyers want to speak freely with each other and their agent, but an extra set of eyes or ears in a discreetly placed camera can keep them from doing so. Knowing your thoughts on a home can give sellers the upper hand in a deal or have personal information incidentally shared strangers.

The National Association of Realtors suggests brokers hang a sign in the home alerting visitors that they may be recorded while on the property.

Today, conforming no-point 30-year fixed mortgage rates are averaging 4.875 percent, 15-year rates are near 4.325 percent and the 5-year ARM is averaging 4.325 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: National Association of Realtors, Mortgage rates, Internet of Things, open house, Realtors