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With low inventory, house hunters are in full safari mode

Housing Wire

It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales. In other words, if there were more inventory, we would have more sales happening.” through the first quarter of 2024.”

Inventory 475
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NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions

Housing Wire

The National Association of Realtors (NAR) urged the U.S. Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price.

Buyers 460
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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Buyers 509
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Q1 AgentPulse survey: Agents aren’t yet fielding commission lawsuit questions

Housing Wire

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Some agents reported not having made any changes to their business due to the lawsuits, while others have. Always will too,” one wrote.

Agents 440
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Why is the El Paso housing market so hot right now?

Housing Wire

But the virus has had anything but a negative impact on real estate in El Paso. According to multiple real estate agents and mortgage brokers, low interest rates and a high percentage of “essential” jobs in their town has kept the housing market and local economy strong. Interest rates were so low, at 2.5%

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Appraising Well in a Fast-Changing Market

Appraisal Buzz

I started thinking about this when I saw the news coming from the National Association of Realtors about how far the current real estate market is out of balance. Why inventory levels matter to appraisers. Inventory levels have an impact on property valuation, at least in the short term. Of course not.

Appraisal 370
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17 Realtors® Go Back in Time: First Year Real Estate Advice

Raleigh Realty

One of the first questions new Realtors have for me is always 'how much money will I make in my first year?' and in order to answer that question, you need to understand how Real Estate Agents make money. If you're looking to make 100k in your first year as a Realtor you'll want to first reverse engineer the process.