Trending Articles

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Opinion: How real estate will come back stronger

Housing Wire

The latest tumult in real estate feels like our world has been turned upside down yet again. But underneath all the frenzy, I see a genuine opportunity for us to turn this into a positive and come back even stronger than before. I often think of the term “Anti-fragile” from the book of the same name by Nassim Taleb. The principle is that people and organizations can build their success around being able to come back even stronger after a wallop, instead of just withstanding the impact.

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Housing Market ‘Flirts With Recession’

Appraisal Buzz

Do rising mortgage rates necessarily trigger an economic recession or vice versa? With six of 10 distinct housing recessions since the 1970s preceding an economic recession (as determined by the National Bureau of Economic Research Business), it is tempting to answer, “yes.” But real estate economists say it’s not so simple. “Let’s not mistake correlation for causation,” said researcher and Deputy Chief Economist for First American Financial Corporation Odeta Kushi , who publishes quarterly anal

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How have two hurricanes impacted housing inventory?

Housing Wire

Housing inventory, which saw an excellent pickup a few weeks ago, has been slowing down and last week we saw a slight decline. Has seasonality finally kicked in or did back-to-back hurricanes slow things enough to influence inventory data? Weekly housing inventory data Four weeks ago was the best week of inventory growth in 2024, as we hit my model range without higher mortgage rates : I gave it the chef’s kiss.

Inventory 497
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Why didn’t the appraiser add the ADU in the square footage?

Sacramento Appraisal Blog

I get this question quite a bit. Why didn’t the appraiser add the square footage of the ADU to the main house? The idea is the accessory dwelling in the backyard should be lumped into the total square footage, and since it wasn’t, maybe the appraiser undervalued the property. Let’s talk about it. I have […] The post Why didn’t the appraiser add the ADU in the square footage?

Appraisal 345
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NAR appeals to Supreme Court in DOJ battle

Real Estate News

The trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.

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6-step listing launch plan that’s just right for today’s market

Inman

The better your listing marketing plan, the better the results, and the more listing opportunities you will have in the future. Jimmy Burgess offers a step-by-step strategy for winning now.

Marketing 148

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Where Are Mortgage Rates Rising?

Appraisal Buzz

Mortgage rates climbed in 44 U.S. states during the first half of 2024, leaving homebuyers anxiously awaiting relief. With the Federal Reserve beginning a series of interest rate cuts , the housing market is expected to see some improvement, but for now, homebuyers in most states continue to feel the squeeze. According to a new analysis from WalletHub , mortgage interest rates increased in all but six states from the first quarter to the second quarter of this year.

Mortgage 435
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How Deep Fakes Have Burrowed Into Home Finance

Appraiserblogs

Fannie and Freddie have been toiling at the coalface of “synthetic appraisals” – “black box valuations.” In the 1960s, technocrats at the Pentagon used the latest IBM mainframe computers to analyze complex data related to the Vietnam War. Planners fed punch cards into the machines and ran endless simulations, hoping to determine strategies for winning the war.

Finance 88
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The recipe for fixing Clear Cooperation — and avoiding chaos

Real Estate News

In the second of a 2-part series, NextHome CEO James Dwiggins warns of a greed-driven future if the CCP is eliminated, and shares a proposal for revising it.

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Local Realtor association won’t enforce NAR Clear Cooperation

Inman

The Park City Board of Realtors informed the National Association of Realtors it would no longer require agents to comply with the pocket listing rule due to fear of litigation.

Realtors 168
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Another day, another team joins The Real Brokerage

Housing Wire

The Real Brokerage ’s explosive growth continues. The company has added the Grant Johnson Group , based in the Minneapolis area, bringing 55 agents to Real and pushing the brokerage’s total agent count past 22,000. “It’s fitting that a fast-growing team, focused on building a strong culture, has helped us surpass 22,000 agents,” Real President Sharran Srivatsaa said in a statement.

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Catch-22: When You Have Millions of Vacant Homes But Also a Housing Shortage 

Appraisal Buzz

In wake of the Fed’s recent rate cut last month, hesitant Americans are becoming open to the idea of entering the market to begin their homebuying journey. However, people actually need homes to do so. There is a concerning housing shortage in the U.S., and while one of the primary drivers of today’s high housing costs—although it’s not always the case—is an overall lack of housing supply.

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Remodeling Market Sentiment Dips in Third Quarter

Eyes on Housing

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2024 posted a reading of 63, down two points compared to the previous quarter. Remodelers remain optimistic about the market even though the overall RMI edged down for the third consecutive quarter. Some have potential customers citing the upcoming election as a reason.

Marketing 105
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Zillow stands firm on opposition to private listing networks

Real Estate News

President Susan Daimler reiterated the company's support for the Clear Cooperation Policy, and called private networks "terrible" for consumers and agents.

Agents 271
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Coldwell Banker expands to Dutchess County with Daniel Aubry

Inman

Led by broker-owner Daniel Aubry, Daniel Aubry Realty comprises a team of six agents who bring a wealth of experience in both commercial and residential real estate, backed by Aubry’s extensive background in the industry.

Realty 153
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Recent Rate Drop Drives YoY Surge in Rate-and-Term Refi Activity

Appraisal Buzz

In its September 2024 Market Advantage mortgage statistics report, Optimal Blue revealed that rate-and-term refinancing activity increased by 50% month-over-month (MoM) as recent homebuyers seized the chance to reduce their interest rates and mortgage payments. Even though the Federal Open Market Committee (FOMC) reduced its target federal funds rate by 50 basis points on September 18, the market had already factored in some of the rate drop, which resulted in a month-long surge in refinancing a

Mortgage 392
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Property Taxes by State – 2023

Eyes on Housing

Nationally, across the 86 million owner-occupied homes in the U.S., the average annual real estate taxes paid in 2023 was $4,112, according to NAHB analysis of the 2023 American Community Survey. Homeowners in New Jersey continued to pay the highest real estate taxes, paying an average of $9,572, 30.6% higher than the second highest, New.

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Local association pauses Clear Cooperation — will others follow?

Real Estate News

A decision by Park City Realtors could signal a shift in local associations’ willingness to abide by NAR policies, and comes as the CCP debate intensifies.

Realtors 244
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Florida broker sues ex over snubbed $1M+ commission

Inman

While repping their former marital home, Alyssa Morgan presented her ex, John Jansheski, with a $70 million offer, which he declined. Several months later, he accepted a $57 million offer from the same buyer after he had assigned a new listing agent.

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Real estate teams get most deals from their ‘sphere of influence’

Housing Wire

Brokerages are scrambling to adapt to the post-settlement landscape of real estate, and more of them are turning to the same method for growing their headcount — acquiring new teams. The addition of teams is an efficient way for major brokerages to bolster agent counts and boost sales volumes on their income statements. But a new survey reveals diversity in the ways that teams are structured and how they produce different outcomes.

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Inside the Affordability Challenges of Middle-Income Renters

Appraisal Buzz

With more and more programs addressing the needs of middle-income renters—those earning between 60% to 120% of the area median income (AMI)—Harvard University’s Joint Center for Housing Studies decided to dive deep to discover who these renters are, the challenges they face, and the services they need, recently publishing the paper “ Subsidizing the Middle: Policies, Tradeoffs, and Costs of Addressing Middle-Income Affordability Challenges.

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Energy Price Declines Lead the Way in September

Eyes on Housing

Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.6% in September according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. Compared to a year ago, this index was down 0.1% in September after an increase of 1.0% in August. The inputs to.

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Why we have Clear Cooperation — and why we should keep it

Real Estate News

In the first of a 2-part series, NextHome CEO James Dwiggins explains the history of NAR’s policy and warns of the legal consequences of eliminating it.

Legal 262
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Reffkin: Restrictive NAR and MLS rules eliminate seller choice

Inman

Compass founder and CEO Robert Reffkin writes that Clear Cooperation and mandatory disclosures undermine seller choice and put them at risk of the unintended consequences of a mass exposure of property details.

Sellers 171
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Big-name brokerages among those accused of income-based discrimination in California

Housing Wire

A housing watchdog group has filed more than 100 complaints that target more than 200 defendants for allegedly discriminating against potential housing applicants who sought to use Section 8 housing vouchers to secure a dwelling. In 2019, California Gov. Gavin Newsom (D) signed a bill into law that bars “housing discrimination, including discrimination through public or private land use practices, decisions, or authorizations, based on specified personal characteristics, including source of inco

Brokerage 488
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HUD Expands Housing Counseling Services

Appraisal Buzz

The U.S. Department of Housing & Urban Development (HUD) follows up their record-setting $16 billion in federal funding and investments in Historically Black Colleges and Universities and $138 million in awards grants for 18 state housing agencies to create affordable homes and expand support services for adults living with disabilities by expanding its counseling services, forming a new partnership with Zillow to attract the next generation of homebuyers, and issuing a new final rule allowi

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Next Speaking Engagement-The ABCs of ADUs

Yolo Solano Appraisal Blog

I’m speaking at the Northern California Chapter of the Appraisal Institute’s Fall Conference this Friday in South San Francisco. I have 45 minutes to discuss the ABCs of ADUs. It’s a short class but I hope to offer new, useful material to attendees. More details here.

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What is the value of MLSs and associations post-settlement?

Real Estate News

A recent survey found that many agents are not satisfied with local association services and find MLSs less relevant in light of new industry rules.

Agents 237
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LoanSnap’s business dried up. Now regulators are after its licenses

Inman

Connecticut has entered into a consent decree revoking the fintech mortgage lender's license, and LoanSnap has been put on notice by California regulators that they intend to do the same.

Business 142
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eXp Realty lands 21-agent team in Northern California

Housing Wire

In its race against other brokerages to add agents, eXp Realty has scored big in California. Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. Led by the wife-and-husband team of Angelica Galeana Yost and Robert Yost, the team serves the Sacramento and Folsom areas of Northern California. Robert Yost is a 19-year veteran in real estate, and Angelica serves as co-team lead and director of growth.

Realty 430
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The Week Ahead: Ginnie Mae and HUD to Host Summit on Mortgage Market Resilience

Appraisal Buzz

Ginnie Mae and the U.S. Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. This event will explore the intersection between liquidity for mortgage lenders, servicers, and mortgage-backed securities Issuers, and the preservation of borrowers’ access to affordable credit throughout the economic cycle.

Mortgage 369
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Join GoFormz at Field Service Europe 2024

GoForrmz

The GoFormz team is going abroad this October for Field Service Europe 2024 Connect with our team in Amsterdam at Field Service Europe 2024 this October 28-30! We’ll be at booth #202 showcasing how GoFormz mobile forms can transform your manual processes and modernize your business. Stop by to say hello to the team, watch a demo, and enter for a chance to win a set of Apple AirPods!

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MLS Milestones: Data shares in Texas, plus a new buyer agreement tool

Real Estate News

Three major Texas MLSs — Unlock, HAR and SABOR — agree to share data; REcore unveils new compliance product for buyer agents; Stellar subsidiary goes global.

Buyers 238
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NAR rival seeks agents for possible class action over Clear Cooperation

Inman

The American Real Estate Association is looking for those 'fined or otherwise harmed' by the National Association of Realtors' pocket listing rule and are interested in "collective action.

Agents 154