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Can my agent get a better deal than others? The data says probably not

Housing Wire

The landmark antitrust lawsuit settlement agreed to by the National Association of Realtors (NAR) in March has put the practices of real estate agents in the spotlight for both regulators and clients alike. Now, with agent commissions starting to decline, agents naturally want to convey the value of their services to buyers and sellers.

Agents 488
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How one lender is innovating to make affordable housing more accessible

Housing Wire

To the buyer of an $800,000 home putting down 20%, the mortgage savings would be roughly $500. If buyers try to time their home purchase to the return of record-low rates and the historically low rates don’t return, their wait could prove costly. Since 2000, the average home appreciation rate has been 4.7%, according to the FHFA.

Lending 458
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How to Build Volume in Today’s Market

Appraisal Buzz

The key is to tailor the financial solutions to meet the needs of various borrowers, including first-time home buyers, those who are looking to move up, and buyers willing to purchase fixer-uppers. That is a significant increase from the 13% average between 2000-2019 in new construction.

Marketing 396
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Home sales will only get worse next year before rebounding in 2024

Housing Wire

With rates at escalated levels, it is affecting home buyers facing affordability challenges. . million, according to the National Association of Realtors. Given this, homebuilders may focus more on comparatively modest product offerings as the number of move-up buyers is low.”. trillion in 2023 before climbing to $2.11

Contracts 397
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Illinois homebuyer files commission lawsuit against @properties

Housing Wire

The suit takes aim at the National Association of Realtor’s Participation Rule which requires listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list a property on a NAR affiliated MLS. As with all of the other commission lawsuits, Tuccori’s suit is seeking class action status.

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Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. Now we are getting the call back to balance, which is good. NAR lists the current inventory at 1.22

Inventory 493
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GSEs Seek Input on Duty to Serve Plans

Appraisal Buzz

The National Association of Realtors (NAR) November 2023 Housing Affordability Index was the lowest reported since July 1985. Other factors playing into affordability issues for today’s buyer includes: Mortgage interest rates tripled from May 2020 to October 2023, and remain steadily around the 7%-mark.

Finance 390