Housing Wire
OCTOBER 26, 2024
Since mid-2022 when mortgage rates headed higher , two facts have been apparent: new listings data has been trending at the lowest levels ever recorded in history and inventory has been able to grow from record low levels thanks to mortgage rates staying elevated. We’ve seen some growth in new listings this year compared to 2023 levels, which is good for housing.
Appraisal Buzz
OCTOBER 24, 2024
A monthly report on commercial foreclosures in the U.S. has been provided by ATTOM. According to the research, commercial foreclosure rates are still high and far higher than they were before to the epidemic. The number of foreclosures increased dramatically beginning in June 2023, reaching a peak of 752 in May 2024 before leveling off at 695 in the most current data released by ATTOM in September 2024.
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Sacramento Appraisal Blog
OCTOBER 23, 2024
Properties were selling in lightning speed a few years ago, but that’s not the vibe today. The truth is it could easily take twice as long to sell today, but the stats actually feel somewhat normal. I wonder if we’ve forgotten what the market used to feel like before 2020. Let’s talk about it. UPCOMING […] The post Stop expecting lightning speed in real estate first appeared on Sacramento Appraisal Blog.
Real Estate News
OCTOBER 23, 2024
From agent pay to association changes, a new report identifies 20 ways the industry can improve itself — and help homebuyers and sellers in the process.
Inman
OCTOBER 23, 2024
Robert Kramer listed his home for sale without using an agent three years ago. The price is $200,000 above some estimates. He raises it $3,600 every month and is still waiting for the right buyer.
Housing Wire
OCTOBER 25, 2024
Many renters think they’re saving money by renting, but long term, that might not be true. In some of the U.S.’s largest metros, a monthly mortgage payment is less expensive than the average rent. But there are many factors surrounding affordability—how do city dwellers make this decision? A new report from Zillow Home Loans outlines some key trends and factors for renters to consider when evaluating a home purchase.
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Eyes on Housing
OCTOBER 23, 2024
While the lack of affordable housing dominates the headlines across the nation, congressional districts with higher shares of renter households are disproportionately affected by the current affordability crisis. Geographically, the districts with the largest housing cost burdens are heavily concentrated in California, Florida, and the coastal Northeast.
Real Estate News
OCTOBER 23, 2024
Lower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.
Inman
OCTOBER 23, 2024
With a new level of omnipresence within an agent’s user experience indicated by a pulsing, always-on chat environment, the Siri-inspired Leo CoPilot is designed to be at the beck and call of Real dealmakers.
Housing Wire
OCTOBER 22, 2024
The Federal Housing Administration (FHA) this week announced two temporary policy waivers as the response to hurricanes Helene and Milton continues. The FHA’s 203(k) rehabilitation mortgage program currently has a requirement that “when a repair is considered ‘major,’ it becomes ineligible to be financed” as part of the 203(k) limited option, ”if the repairs prevent the borrower from occupying the property for more than 15 days.
Appraisal Buzz
OCTOBER 24, 2024
An examination of CoreLogic data indicates that, in comparison to prior years, jumbo mortgage originations saw a discernible drop in both dollar quantities and market share in 2023 and 2024. The decline in mortgage origination activity was probably caused by a combination of high interest rates and continuously rising home prices over the previous two years.
Eyes on Housing
OCTOBER 25, 2024
As of 2023, nearly 40% of homeowners in the United States are mortgage-free, the highest level seen in the past 13 years. With elections approaching, it is valuable to analyze the share of mortgage-free homeowners across congressional districts, as these patterns often provide insights into the local housing market as well as demographic shifts. Both.
Real Estate News
OCTOBER 24, 2024
September’s lower mortgage rates may have given a boost to the new construction sector, but buyer enthusiasm could be waning as rates climb back up.
Inman
OCTOBER 22, 2024
The campaign's transparency was questioned following a decision to post "cumulative" financials instead of annualized profits in a pitch sent to investors that drew fire from an industry analyst.
Housing Wire
OCTOBER 24, 2024
Sales of newly built homes continue to outpace sales of existing homes. According to data released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new-home sales hit a seasonally adjusted rate of 738.000, which is 4.1% higher than in August and 6.3% higher year over year. Sale prices and inventory held mostly steady, with the median price landing at $426,300 and 7.6 months of supply at the current sales pace. “ Mortgage rates have been falling, which
Appraisal Buzz
OCTOBER 25, 2024
Americana has long held a fascination for Old West ghost towns, symbols of a bygone day. Now Joybird has redefined that term for the modern age. In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. What Defines a Ghost Town? To create their list of America’s modern-day ghost towns, Joybird analyzed data from the U.S.
Eyes on Housing
OCTOBER 23, 2024
Despite recent easing mortgage rates and improved inventory, existing home sales fell to a 14-year low in September as elevated home prices are causing potential buyers to hold out for lower rates, according to the National Association of Realtors (NAR). Sales remained sluggish as the lock-in effect kept home prices elevated. However, we expect increased.
Real Estate News
OCTOBER 26, 2024
Watch the conversation with consultant Jack Miller as he discusses The Opportunity Report, which delves into agent pay, NAR policies, the role of MLSs and more.
Inman
OCTOBER 22, 2024
Murray and his ex-wife, Corcoran broker Mickey Murray, built the Yellow House in the 1980s after buying the property for $305K. The 5,177-square-foot home sits on the site of a 19th-century barn.
Housing Wire
OCTOBER 24, 2024
Online real estate marketplace Auction.com released data this week showing that demand for distressed homes — including bank-owned properties and foreclosures — shrank for a second straight quarter. The company’s Auction Market Dispatch for third-quarter 2024 included a survey conducted in late September of more than 140 active buyers on the platform.
Appraisal Buzz
OCTOBER 23, 2024
According to proprietary data from Auction.com , early indications of waning demand for distressed properties sold at auction that appeared late in the second quarter persisted throughout the third quarter of 2024. Given that local community developers are projecting retail market conditions roughly six months into the future—the average time it takes to renovate distressed properties bought at auction and return them to the retail market as resales or rentals—waning demand from these developers
Eyes on Housing
OCTOBER 24, 2024
In 2023, the total number of second homes was 5.7 million, accounting for 4% of the total housing stock, according to NAHB estimates of the 2023 American Community Survey. Second homes have been in a steady decline over the past few years, from 7.15 million in 2020, to 6.5 million in 2022, dropping to 5.7.
Real Estate News
OCTOBER 24, 2024
An MLS advisory board within the National Association of Realtors is continuing its “robust” discussion of the divisive policy. Here’s what could come next.
Inman
OCTOBER 22, 2024
With more supervision layers required due to NAR's settlement, consider these tasks, policy ideas and suggestions when updating your systems, compliance expert Summer Goralik writes.
Housing Wire
OCTOBER 25, 2024
The strongest market agitator in the first half (H1) of 2025 is not likely to be either U.S. unemployment or inflation caused by monetary or fiscal policy. Based on the latest readings, inflation is consistently decreasing, reacting as expected to the Federal Reserve ’s interest rate hike campaign that sent mortgage rates higher than they have been since the start of the millennia.
Appraisal Buzz
OCTOBER 25, 2024
The U.S. housing market is showing signs of relief for buyers, as home prices drop in more than half of the largest metropolitan areas. According to the Realtor.com® September Housing Market Report , prices in some regions have declined by over 12%, marking a shift from the record highs of 2023. “The median price of homes for sale this September dropped by 1% year-over-year, settling at $425,000,” reports Realtor.com economist Joel Berner.
Appraiserblogs
OCTOBER 24, 2024
The next morning I went to my trusted AI program and asked if there was any evidence of bias. “Where is the evidence?” The issue of perceived bias and discrimination in the appraisal industry has become a highly contentious and polarizing topic in recent years, sparking intense debate and controversy. At the heart of this complex issue lies a fundamental tension between the appraisal profession’s commitment to objectivity and impartiality, and the persistent allegations of systemic racism and u
Real Estate News
OCTOBER 26, 2024
There's more than $110 million at stake in a nine-brokerage commissions settlement hearing next week, while eXp has come under fire for its recent deal.
Inman
OCTOBER 24, 2024
Landlord Genetta Hull filed eviction papers in September alleging that Dolton Mayor Tiffany Henyard and her roommate, Kamal Woods, owe more than $3,350 in rent and late fees on her property.
Housing Wire
OCTOBER 25, 2024
Clients who wish to use ICE Mortgage Technology ‘s legacy Software Development Kit (SDK) technology on Encompass will be afforded a six-month grace period from the original Oct. 31, 2025, transition deadline to the API-based platform before being charged. The company characterized the new transition timeline not as a delay, but rather an “extension” afforded to clients who might need additional assistance migrating code to the more modern architecture on Encompass.
Appraisal Buzz
OCTOBER 23, 2024
In this episode, Hal and Jim sit down with Joanna Conde, President of the Arizona Association of Real Estate Appraisers (AAREA). Joanna dives into the impact of Artificial Intelligence on real estate appraisals. Many appraisers are wary of AI, but Joanna has embraced it to transform her business. She shares how listeners can use ChatGPT to create, manage, and market their own niche businesses, offering valuable takeaways for those looking to stand out in their areas.
Appraiserblogs
OCTOBER 28, 2024
She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee paid by the borrower, which prompted her to stop working with AMCs because of the lack of transparency. The appraisal industry is abuzz with a discussion about appraisal fees. The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information Regarding Fees Imposed in Residential Mortgage Transactions [Docket No.
Real Estate News
OCTOBER 25, 2024
NAR’s latest consumer guide tells buyers exactly what to ask a prospective agent. Agents should be prepared with compelling responses that play up their value.
Inman
OCTOBER 22, 2024
Creating content for your website, communicating with your sphere of influence and marketing your latest listing are all easy with the help of artificial intelligence, Luke Babich writes.
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