Housing Wire
OCTOBER 17, 2024
The U.S. economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae ‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from 3.2% in 2023 to 2.3% in 2024 and 2% in 2025.
Appraisal Buzz
OCTOBER 15, 2024
The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE Mortgage Technology , indicates a drop in mortgage credit availability in September. Key Findings from the Mortgage Credit Availability Index: In September, the MCAI dropped by 0.5% to 98.5. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.
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Appraisal Buzz
OCTOBER 11, 2024
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
Sacramento Appraisal Blog
OCTOBER 10, 2024
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?
Real Estate News
OCTOBER 15, 2024
“People are buying” — and living in — these futuristic homes, with dozens sold at a community in Texas, and more widespread adoption expected in five years
Inman
OCTOBER 15, 2024
Former Benchmark Mortgage CEO Brian McKinney has been charged with driving company growth following the launch of a more inclusive mortgage underwriting process and home equity product.
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Sacramento Appraisal Blog
OCTOBER 16, 2024
Who is buying in today’s housing market? Some say it’s only the wealthy or institutional investors, and first-time buyer are missing in action. What do stats show when we look at forty local neighborhoods? Let’s find out. UPCOMING SPEAKING GIGS: 10/18/24 Prime Real Estate (private) 10/22/24 Culbertson and Gray Group (private (I think)) 10/23/24 SAFE […] The post Which neighborhoods are doing better than others?
Real Estate News
OCTOBER 10, 2024
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.
Inman
OCTOBER 14, 2024
More than 89 percent of active sellers told Intel they're open to covering the buyer’s commission — even as homebuyers increasingly seek to negotiate lower commission rates with their own agents.
Housing Wire
OCTOBER 13, 2024
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.
Appraisal Buzz
OCTOBER 10, 2024
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
Eyes on Housing
OCTOBER 16, 2024
Over the first eight months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 685,923. On a year-over-year (YoY) basis, this is an increase of 11.5% over the August 2023 level of 615,453. Year-to-date ending in August, single-family permits were up in all four regions. The range of permit increases spanned.
Real Estate News
OCTOBER 14, 2024
More than half of recent sellers say they negotiated with their agent to lower the commission, according to new survey data from Zillow.
Inman
OCTOBER 10, 2024
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.
Housing Wire
OCTOBER 15, 2024
The Federal Communications Commission (FCC) — the regulatory body that oversees communications across a wide variety of media including radio, telephone and the internet — announced that new rules related to the Telephone Consumer Protection Act (TCPA) will go into effect in April 2025. The new guidelines are designed to make it easier for consumers to revoke consent for unwanted robocalls and texts.
Appraisal Buzz
OCTOBER 14, 2024
The largest percentage for any August since 2019 is found in nearly half (48%) of all listings that have been active for at least 60 days. For the seventh consecutive month, the percentage of residences left unoccupied for at least 60 days increased annually—whereas it was 43.2% last month. For the fifth consecutive month, the percentage of homes listed for 60 days increased, according to recent Redfin data.
Eyes on Housing
OCTOBER 15, 2024
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.
Real Estate News
OCTOBER 15, 2024
A new statement from the agency suggests that when information is shared only among competitors — like trade group members — it sets off antitrust alarm bells.
Inman
OCTOBER 11, 2024
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.
Housing Wire
OCTOBER 17, 2024
As an entrepreneur, Mauricio Umansky has displayed remarkable versatility. At just 26 years old, he launched the clothing brand 90265, which pioneered a number of fashion trends. In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a real estate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR).
Appraisal Buzz
OCTOBER 11, 2024
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
Eyes on Housing
OCTOBER 10, 2024
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.
Real Estate News
OCTOBER 11, 2024
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.
Inman
OCTOBER 12, 2024
If you’re looking to get more eyes (of newt!) on your listings, bewitch the neighborhood and cast a spell on the right buyer, try these spooktacular Halloween listing marketing ideas from Darryl Davis.
Housing Wire
OCTOBER 16, 2024
In today’s complex digital environment, understanding the legal and regulatory requirements surrounding cybersecurity is crucial for any business. While the need for strong cybersecurity measures is widely recognized, navigating the legal landscape that governs them is equally important. In this article, part of the “ Reducing Risk ” series, we will break down how staying compliant with these regulations can protect your business, your clients, and their sensitive data.
Appraisal Buzz
OCTOBER 11, 2024
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.
Appraiserblogs
OCTOBER 14, 2024
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.
Real Estate News
OCTOBER 11, 2024
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.
Inman
OCTOBER 14, 2024
By integrating with Restb.ai’s proven AI, Lundy’s application should quickly enhance its overall accuracy in search returns, including being more specific about home characteristics specific to the needs of visually impaired buyers.
Housing Wire
OCTOBER 17, 2024
Cooling inflation and a steady job market are giving homebuilders a sense of optimism when it comes to mortgage rates, leading to an uptick in homebuilder confidence, according to data published on Thursday. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose two points month over month to a reading of 43 in October.
Appraisal Buzz
OCTOBER 15, 2024
During the 2024 Five Star Conference & Expo , held at the Omni Hotel in Dallas in late September, the Five Star Institute presented the 2024 Lifetime Achievement Award during the Keys for Life Opening Luncheon. This year’s Lifetime Achievement Award recipient was Jocelyn Martin-Leano, Founder of Enizio Strategies LLC. Martin-Leano, who also served as the Chair of Five Star’s National Mortgage Servicing Association (NMSA) from 2022-2024, established Enizio Strategies as a professional service
Eyes on Housing
OCTOBER 17, 2024
During the second quarter of 2024, the volume of total outstanding acquisition, development and construction (AD&C) loans posted the largest year-over-year percentage decline since 2012, as interest rates remain elevated before the beginning of the Fed cutting short-term interest rates in September. AD&C loan conditions will improve as the Fed progresses in its policy easing.
Real Estate News
OCTOBER 17, 2024
The DANGER Report took a “frank and sometimes searing” look at the risks facing agents, brokers, associations, MLSs and the National Association of Realtors.
Inman
OCTOBER 14, 2024
The repeal of Clear Cooperation, eXp Realty CEO Leo Pareja writes, could cause incalculable financial damage to the industry and erode the public’s trust in real estate professionals.
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