Housing Wire

OCTOBER 25, 2024

With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S. Department of Veterans Affairs (VA) would be disadvantaged.

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Housing Wire

SEPTEMBER 30, 2024

Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. When comparing income to the cost of monthly mortgage payments, the typical buyer now earns 8.9% Starter-home buyers are skewing older than they used to. more than they need. In August 2023, that figure was only 3%.

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Housing Wire

SEPTEMBER 5, 2024

That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market. We’re getting closer to homebuyers’ comfort zone of low-6%, high-5% rates, and September’s anticipated Fed cuts should help buyer sentiment. from this peak.

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Appraisal Buzz

OCTOBER 29, 2024

The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers first appeared on The MortgagePoint. The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers appeared first on Appraisal Buzz. To read the full release, including more information, click here.

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Buyers Appraisal Loan Officers Sellers 395

Appraisal Buzz

NOVEMBER 13, 2024

“Technology has enabled homeowners to live more sustainably and more affordably, which is a growing priority for prospective buyers,” said Amanda Pendleton, a Home Trends Expert at Zillow. The post Homeowners and Buyers Reveal the Most Desired Home Trends for 2025 first appeared on The MortgagePoint.

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Appraisal Buzz

DECEMBER 9, 2024

Buyers realized mortgage rates may not drop below 5%, and probably not below 6%, in the near future. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes first appeared on The MortgagePoint. The post Post-Election Market Activity Ticks Up as Buyers Begin to Tour Homes appeared first on Appraisal Buzz.

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Buyers Marketing New Listings Agents 364

Housing Wire

OCTOBER 28, 2024

It was based on the premise that buyer brokers were using commission rates posted on the [ multiple listing service ] to steer buyers to properties that provided higher levels of compensation. … The settlement makes sense — but only on paper. Monestier’s objection also looks at the required buyer representation agreements.

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Business Sellers Realtors Buyers 468

Appraisal Buzz

NOVEMBER 13, 2024

The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Among Gen Z, 49% exceeded their budget—over 1.5

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Real Estate Sellers Buyers Renovations 417

Housing Wire

DECEMBER 3, 2024

Once the process starts, nearly half of home buyers report shedding tears at some point. Fortunately, home buying doesn’t have to remain confusing for new buyers. Zillow offers a robust monthly cost calculator to help prospective buyers budget for monthly payments. How much home can I afford?

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Tools Finance HOA Property Taxes 395

Housing Wire

OCTOBER 29, 2024

Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. Despite the initial concerns, many industry professionals say first-time buyers are currently faring no worse than other buyers — for now, at least.

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Marketing Real Estate Sellers Buyers 448

Housing Wire

SEPTEMBER 9, 2024

The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.

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Agents Marketing Sellers Buyers 481

Housing Wire

OCTOBER 8, 2024

Today, Forward Coaching focuses on teaching new agents how to negotiate with buyers and how to collaborate with sellers and listing agents on concessions. She believes that intermediate-level agents may not have strong negotiation skills as they have mainly relied on MLS listings to market properties to buyers.

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Real Estate Agents Real Estate Agent Buyers 448

Housing Wire

SEPTEMBER 12, 2024

That’s according to a Zillow report released Thursday in which the Seattle -based real estate company said that “lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year.“ Buyers have more options to choose from for two reasons. Zillow noted that the U.S. 29 to Oct.

Housing Market 482

Housing Market Marketing Inventory Buyers 482

Appraisal Buzz

NOVEMBER 26, 2024

Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” There is no doubt that buyers will experience several highs and lows during the course of the year. Zillow predicts 4.3

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Appraisal Buzz

DECEMBER 16, 2024

When I explain to buyers that they can get more bang for their buck and lower flood risk a little further inland, they often tell me, Rafael, we came to Florida for the waterfront views. This gives buyers leverage when theyre negotiating with other insurers. That compares 59.2% That compares 59.2% of homes face high flood risk and 35.7%

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HOA Insurance Buyers Property Taxes 376

Housing Wire

SEPTEMBER 26, 2024

The majority of agents (60%) also reported that they do not like that they can no longer advertise offers of buyer agent compensation on the MLS , while 20% like the change. Similarly, 59% of agents don’t like that commission costs may be shifted directly to buyers, compared to 19% of agents who view this change favorably.

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Real Estate Agent Real Estate Agents Buyers 468

Housing Wire

NOVEMBER 21, 2024

Curb appeal sets the tone for potential buyers before they even step inside, shaping how welcoming and well-maintained a property feels. With just a few thoughtful updates, you can make your listing stand out and leave a lasting impression on buyers and even turn nearby neighbors into clients.

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Decorating Buyers Modernization Real Estate 370

Housing Wire

OCTOBER 24, 2024

That means the buyer will need to pay in cash or use non-traditional financing such as a hard money loan. But some segments of pre-foreclosure buyers are purchasing at much bigger discounts. Many of the distressed properties Sandoval encounters are not in good enough condition to qualify for traditional financing.

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Retail Buyers Renovations Finance 448

Appraisal Buzz

NOVEMBER 25, 2024

More inventory should shake loose in 2025, giving buyers a bit more room to breathe. But since then, they have climbed back to nearly 7%, changing the affordability picture for home buyers. Mortgage rates fell in September, briefly bringing the share of affordable listings to a 19-month high.

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Housing Market Marketing Buyers Construction 365

Housing Wire

NOVEMBER 20, 2024

home seller paid a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January. At the end of October, the narrative changed; Redfin reported that commissions paid to real estate agents representing buyers remained essentially unchanged.

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Real Estate Agent Real Estate Agents Sellers 476

Housing Wire

OCTOBER 15, 2024

17 deadline, much of the industry concern was over how home buyers and sellers would react. Would sellers suddenly stop offering buyer’s agent compensation? Would buyers refuse to sign buyer agency agreements and ultimately decide to go unrepresented? Approaching the Aug.

Real Estate 448

Real Estate Brokerage Sellers Agents 448

Housing Wire

OCTOBER 1, 2024

While it’s unclear exactly how home buyers and sellers are reacting to the situation, a startup tech company called Rayse is “pushing back on the settlement” with a new communication platform that allows prospective buyers to track what their agents are doing in real time.

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Agents Real Estate Agent Real Estate Brokerage 448

Housing Wire

OCTOBER 25, 2024

The for-sale market, on the other hand, is offering opportunities for buyers heading into the fall, with more than 1 in 4 sellers cutting prices. With inventory up 22% compared to a year ago, buyers are gaining bargaining power. The typical rent is 3.4% Zillow Home Loans’s Buyability tool is a great way to kick off that conversation.

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Inventory Buyers Mortgage Tools 476

Housing Wire

AUGUST 1, 2024

With less than 100 days until the 2024 election, a majority of buyers are taking note. That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. But affordability and mortgage rates are the primary reasons why they’re holding off.

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Housing Market Finance Buyers Marketing 508

Housing Wire

OCTOBER 18, 2024

Buyers are not required to prepare their current home for sale until after they move into the new property. Calque also offers buyers a guaranteed offer on their current home to reduce risk. “It In other words, if a buyer can sell their home in a specific timeline, the contingency is pulled and the buyer can purchase the property.

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Mortgage Buyers Contracts Finance 448

Housing Wire

NOVEMBER 26, 2024

Round numbers sometimes move buyers more than a price that resembles a (metaphorical) fire sale. On the other hand, some buyers like the look of the smaller number; this is why the “just below” strategy is effective (as in, a property is “just below” $300,000 when the price is $299,999).

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Human Resources Real Estate Real Estate Agent Buyers 370

Housing Wire

NOVEMBER 25, 2024

Instead, the DOJ challenged the settlement provision that requires buyers and their buyer’s agent to enter into a written agreement prior to touring a home. Additionally, the DOJ writes that the court could clarify “that approval of the settlement affords no immunity or defense for the buyer-agreement provision.”

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Law Real Estate Brokerage Buyers 493

Appraisal Buzz

NOVEMBER 4, 2024

housing market is split into two groups: first-time buyers struggling to enter the market and current homeowners buying with cash,” said Jessica Lautz, NAR Deputy Chief Economist and VP of Research. First-time buyers decreased to 24% of the market share (32% last year). For first-time buyers, this number jumps to 64%.

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Real Estate Agent Buyers Sellers Real Estate 370

Housing Wire

OCTOBER 23, 2024

While the uptick in inventory is certainly a positive for buyers, NAR’s report found they are continuing to contend with rising home prices. Moderating home price increases are welcome news for home buyers,” Yun said. In September, the median sales price for an existing home was $404,500, up 3% from a year ago.

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Inventory Realtors Buyers Real Estate 465

Housing Wire

DECEMBER 18, 2024

According to CEO and co-founder Huw Nierenberg, Oyssey is an “invite-only, through select buyer’s agents, home search platform.” “It’s about time buyers have control of how their own contracts work and that can mean more commission opportunities for savvy agents,” he added.

Real Estate 366

Real Estate Real Estate Agent Brokerage Contracts 366

Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Buyers think it’s a buyer’s market. The ratio between price increases and price decreases also points to things shifting toward buyers.

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Housing Market Marketing Sellers Buyers 478

Housing Wire

OCTOBER 29, 2024

In the latest episode of the RealTrending podcast , Amy Stockberger — broker-owner of Amy Stockberger Real Estate — joins Tracey Velt for a tantalizing conversation that covers her teamerage’s unique “Lifetime Home Support” model and other ways that agents can provide value to home buyers and sellers. Stockberger: It’s very omnipresent.

Real Estate 459

Real Estate Clients Agents Sellers 459

Housing Wire

AUGUST 26, 2024

The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). This buyer would save more than $5,800 from the two-year buydown, according to Rocket. Rocket estimates the size of this segment at more than 90 million people.

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Buyers Insurance Mortgage Business 501

Housing Wire

DECEMBER 11, 2024

Elevated mortgage rates have stymied the broader housing market in 2024, but the luxury segment is somewhat insulated from that because wealthy buyers are less likely to need a mortgage. Luxury buyers who were already homeowners also saw a rise in home equity. And the rich are getting richer thanks to the stock market boom.

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Housing Market Marketing Buyers Real Estate 370

Appraisal Buzz

OCTOBER 25, 2024

housing market is showing signs of relief for buyers, as home prices drop in more than half of the largest metropolitan areas. Key Markets Experiencing Price Declines Several major cities across the country are experiencing a drop in median home prices, a welcome change for buyers facing years of affordability challenges.

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Buyers Housing Market Construction Real Estate 368

Housing Wire

SEPTEMBER 18, 2024

Reasons for opting out At the heart of the matter are NAR rules that, prior to the March 2024 settlement, required listing agents to make blanket offers of compensation to buyer agents on Realtor association-owned MLSs. These organizations say that making offers of compensation to buyer agents was optional but never mandatory.

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Legal Realtors Agents Brokerage 482

Housing Wire

NOVEMBER 26, 2024

NAR also addresses the DOJ’s concerns about mandatory buyer representation agreements , which are now required for all Realtor members based on the terms of the settlement. Buyers are free to hire a broker (or not) whenever they want; buyers who want to engage a broker are free to hire whatever type of broker they want,” the filing states.

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Law Realtors Buyers Clients 418