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Virginia Realtors CEO Terrie Suit is retiring

Housing Wire

Terrie Suit, who served as CEO of Virginia Realtors for the past 11 years, has announced her retirement, according to a company announcement on Friday. Virginia Realtors, which has a membership base of 38,000, named Martin K. She has been a Realtor since 1985 and also spent 20 years in mortgage lending.

Realtors 348
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How do you solve the California housing crisis?

Housing Wire

That represents a serious downtrend from a 50% homeownership rate in 2000. A panel of experts speaking at a recent California Association of Realtors (CAR) leadership conference laid out the scope of the problem — and some potential solutions being offered at the federal, state and local level. What’s the solution?

Law 470
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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. The researchers used MLS data in Charlotte , Minneapolis and Houston between January 2000 and December 2019.

Agents 473
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Home sales will only get worse next year before rebounding in 2024

Housing Wire

As of October, more than 80% of existing borrowers had mortgages at least 200 basis points lower than the current market rates, and more than 90% had mortgages at least 100 bps lower — the largest share since at least 2000, the government-sponsored enterprise said. . million, according to the National Association of Realtors.

Contracts 372
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How to Build Volume in Today’s Market

Appraisal Buzz

That is a significant increase from the 13% average between 2000-2019 in new construction. Strategic Solutions for Today’s Homebuyers New construction financing and meeting the demand for new homes: According to the National Association of Home Builders (NAHB), in March, 33% of all home sales were new construction financing.

Marketing 396
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How one lender is innovating to make affordable housing more accessible

Housing Wire

Since 2000, the average home appreciation rate has been 4.7%, according to the FHFA. If consumers, Realtors and builders know affordable financing exists for potential buyers, more Americans will have the opportunity to get into a new home. Since 2012, the average rate has been 7.7%. million in 20 years.* 1 non-QM lender?

Lending 363
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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. This is another factor in driving purchase application data below 2008 levels.

Inventory 487