Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

Contracts 367

Contracts Investors Sellers Lending 367

Housing Wire

OCTOBER 28, 2024

The median price of the homes that went into contract this week — these are the new purchase offers with contracts pending — is now 6% greater than last year. These are the homes that got listed for sale and took offers and went into contract within just a few days of listing. Home prices ticked up this week.

Inventory 475

Inventory New Listings Sellers Contracts 475

Appraisal Buzz

FEBRUARY 21, 2025

Lease-purchase arrangements are receiving renewed attention from legislators looking for ways to make homeownership more accessible, and theyre a great way to help buyers who cant qualify for a traditional mortgage or pony up the money needed for a down payment. But that doesnt mean there arent risks involved for potential purchasers.

Landlords 221

Landlords Tenants Contracts Law 221

Housing Wire

NOVEMBER 4, 2024

This week, we count 14% more homes in the contract pending stage now than a year ago. Last year at this time, the market was in deep retrenchment — both buyers and sellers were walking away. We counted 63,000 new contracts started for single-family homes this week. This week, both sellers and buyers both accelerated.

Inventory 393

Inventory New Listings Sellers Contracts 393

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether? Enter the savvy seller.

Buyers 481

Buyers Agents Real Estate Agent Loan Officers 481

Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

Housing Market 535

Housing Market Buyers Marketing Real Estate Agent 535

Housing Wire

AUGUST 22, 2024

“As part of their low-cost selling strategy, sellers using Homie would commonly make an offer of compensation to buyer-brokers that was somewhat below the buyer agent compensation (BAC) offered by sellers represented by traditional brokers, including the Corporate Defendants.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

AUGUST 29, 2024

Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.

Buyers 448

Buyers Realtors Agents Sellers 448

Housing Wire

JANUARY 6, 2025

In those times, we just had far more buyers than sellers. These are new listings that take offers within a couple days of listing and go into contract immediately. Buyer competition led to all kinds of craziness. There are 260,000 single-family homes in contract right now. Lets look at the demand slide. Thats only 2.3%

Inventory 448

Inventory New Listings Contracts Sellers 448

Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% In Wise County , there were only 56 listings.

Inventory 459

Inventory Buyers Agents Real Estate 459

Housing Wire

NOVEMBER 1, 2024

Real estate agents and real estate brokers are both licensed real estate professionals who can assist buyers and sellers, but you should be aware of some key differences and state-specific distinctions. A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. Let’s dive in!

Real Estate 448

Real Estate Real Estate Agent Agents Brokerage 448

Housing Wire

AUGUST 1, 2024

When it comes to handling compensation eXp Realty is not mincing its words — it is not sharing its listing fee with the buyer’s broker. However, the firm says this does not mean it is unwilling to work with buyer’s brokers. But it will be their sellers who make the decision on an offer of compensation to a buyer broker.

Sellers 448

Sellers Buyers Agents Law 448

Housing Wire

NOVEMBER 4, 2024

Although I was certainly nervous about the process, I knew I was far better prepared — and had far more resources and industry experts available for consultation — than most first-time buyers. Lamacchia Realty is using its own buyer representation agreements , and I found the form straightforward and easy to understand.

Agents 435

Agents Inspection Real Estate Sellers 435

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. You’ve got current economic conditions that are not opportunistic for a homebuyer right now, inflation is still out there and it’s all constraining buyers’ ability to spend. “You’ve

Buyers 418

Buyers Agents Loan Officers Real Estate 418

Housing Wire

AUGUST 19, 2024

Several real estate groups recently criticized the Consumer Federation of America’s support for uncoupled buyer and seller agent real estate commissions, writing in HousingWire that, “CFA has seemingly lost sight of its core purpose advocating for those most in need of consumer protection.”

Real Estate 459

Real Estate Sellers Buyers Agents 459

Housing Wire

JANUARY 17, 2024

A Federal Housing Finance Agency (FHFA) analysis has shown racial disparities in appraisers’ use of time adjustments, potentially harming borrowers of minority groups. Racial disparities remained even after the time adjustment process: it brought 52% of white tract appraisals below the contract price to above the contract price.

Appraisal 486

Appraisal Contracts Finance Real Estate 486

Housing Wire

JULY 23, 2024

The survey of 1,180 real estate agents across six Mid-Atlantic states and the District of Columbia found that 14% of sellers in June saw a contract fall through due to a buyer’s inability to secure financing, which was up from 11% in May. The surveyed agents also noted that affordability was the No.

Mortgage 511

Mortgage Real Estate Agent Finance Buyers 511

Housing Wire

JULY 26, 2024

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. In a controlled transaction there is an established relationship between the buyer and seller. Discuss financing. Does your buyer need to secure a mortgage ?

Market Value 459

Market Value Real Estate Agent Real Estate Finance 459

Housing Wire

AUGUST 27, 2024

Dubbed the “Contingency Buster,” the product uses its Purchase Price Guarantee (PPG), a binding backup contract that if a homebuyer’s current home does not sell within 150 days, the fintech will purchase it at an agreed-upon price, the company said in a release Tuesday.

Contracts 465

Contracts Real Estate Agent Real Estate Buyers 465

Housing Wire

DECEMBER 14, 2023

The letter states that the CHLA believes this shift could have “profound negative impact on the ability of home buyers to pay for or finance those commissions and on loan appraisal loan to value (LTV) calculations and requirements.” Under current regulations, VA buyers are not allowed to pay for buyer’s representation.

Lending 448

Lending Mortgage Finance Government 448

Housing Wire

DECEMBER 9, 2024

During this period, there were fewer sellers and many more buyers. As we look at 2025, it seems there is late year momentum, maybe its from buyers who waited until after the election and are now ready to act? This is the median price of the homes going under contract each week. Will that momentum continue into the spring?

Housing Market 418

Housing Market Marketing Inventory Sellers 418

Housing Wire

SEPTEMBER 9, 2024

Let’s look at how these dynamics will impact home sales , prices, and buyer opportunities for the rest of the year and into the first quarter. For every two homes going into contract each week, there’s a third withdrawn for lack of an offer. With another 12,000 new listings that are already in contract.

Sellers 482

Sellers Inventory Contracts New Listings 482

Housing Wire

SEPTEMBER 7, 2023

Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Mortgage rates have been rising, making homes more expensive to buyers and obviously slowing demand. This is an effective illustration of the impact this year’s higher mortgage rates are having on home buyer demand. Mortgage rates peaked at 7.5%

Contracts 468

Contracts Inventory Buyers New Listings 468

Housing Wire

MAY 1, 2024

According to Barton, the “substance of the settlement” is a “very reasonable middle path forward for the industry, where commissions are communicated between sellers and buyers and both parties are better educated.” Barton also touched upon the terms of NAR’s settlement agreement.

Real Estate 462

Real Estate Agents Contracts Real Estate Agent 462

Housing Wire

JULY 28, 2021

Kan noted that the Federal Housing Finance Agency reported that May home prices were 18% higher than a year ago. “Potential buyers continue to be put off by extremely high home prices and increased competition.” It’s now fallen on an annual basis for the past three months. from 64.9% the previous week.

Mortgage 397

Mortgage Contracts Finance Investors 397

Housing Wire

OCTOBER 7, 2024

There were very few buyers in the fourth quarter 2023. Pending home sales continue to climb There are 362,000 single-family homes under contract. This is measuring the total count of homes that are under contract now. We’re showing 6% more homes under contract now than last year. Buyers can put the brakes on quickly.

Housing Market 476

Housing Market Marketing Mortgage Contracts 476

Housing Wire

JUNE 27, 2024

An index of 100 is equal to the level of contract activity in 2001. Pending sales are a forward-looking indicator of home sales based on contract signings, so two consecutive months of declining pending home sales suggest a negative outlook for sales activity,” Odeta Kushi , First American’ s deputy chief economist, said in a statement.

Inventory 501

Inventory Contracts Realtors Buyers 501

Housing Wire

SEPTEMBER 28, 2023

An index of 100 is equal to the level of contract activity in 2001. Pending home sales, like new home sales, are based on contract signings. Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers,” Lawrence Yun, NAR chief economist said.

Housing Market 497

Housing Market Contracts Government Buyers 497

Housing Wire

MAY 13, 2024

If you need to communicate about the real estate market with buyers and sellers, you should join us. It’s the peak season for buyers and sellers. New listings Slightly fewer new listings hit the market this week — 69,000 single-family homes that are newly listed, plus another 20,000 listed that are already under contract.

New Listings 500

New Listings Contracts Inventory Sellers 500

Housing Wire

JULY 17, 2024

It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward. Increasingly in post-foreclosure transactions, this is already being initiated by the buyer. Accordingly, it’s time for sellers’ agents and brokers to prepare to deal directly with buyers.

Real Estate 493

Real Estate Training Agents Buyers 493

Housing Wire

DECEMBER 27, 2024

These roles include: Buyers agents: These agents focus on helping clients purchase a new home. They handle property searches, showings, and contract negotiations. Teams that use Ylopo can give their agents a serious edge when it comes to reaching more buyers and sellers and turning leads into deals.

Real Estate 418

Real Estate Tools Agents Real Estate Agent 418

Housing Wire

SEPTEMBER 21, 2023

“It’s now entirely possible for us to qualify buyers for their dream home by the time they leave the open house. billion in the first six months of 2023, according to data from Inside Mortgage Finance. Agents submitting an offer at 8:30pm? The lender originated $10.6 As of June 2023, Guaranteed Rate had a 2.5%

Open Houses 435

Open Houses Contracts Finance Tools 435

Housing Wire

OCTOBER 31, 2023

New listings decline isn’t as steep as a year ago There were only 53,000 new listings (single-family homes) unsold this week, plus 10,000 more new listings that are already in contract. Soaring mortgage rates stifle buyer demand There are only 319,000 single-family homes in the contract- pending stage.

New Listings 511

New Listings Inventory Contracts Housing Market 511

Housing Wire

OCTOBER 20, 2023

So far, week one of the Sitzer/Burnett bombshell class action antitrust buyer broker commission lawsuit has seen four of the five named plaintiffs testify in front of the jury. The buyer who chose them and who they’re working for should pay them,” Ellis said. She did a good job for him [the buyer], but I had to pay her commission.”

Contracts 435

Contracts Agents Buyers Real Estate 435

Housing Wire

SEPTEMBER 3, 2024

But while falling interest rates are putting a floor on demand, there’s still no sign of any rush of buyers. We haven’t seen any uptick in buyer urgency, as measured by immediate sales. Pending home sales stay the same There were 64,000 new contracts pending this week for single-family homes. 76,000 total sales this week is 2.5%

Inventory 454

Inventory New Listings Contracts Buyers 454

Housing Wire

AUGUST 6, 2024

Still, this affordability boost is good for any buyers in the market now. Pending home sales up The number of new contracts ticked up a couple percentage points this week to 66,000, with another 13,000 condo sales started. If cheaper money motivates a few buyers to move off the sidelines, then we should see it here.

Mortgage 482

Mortgage Inventory New Listings Contracts 482