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Mortgage rates decided to bounce back into the 7s this week. We can see an impact in that immediately as home sales are slowing down. These are the homes that go into contract immediately after listing. We also see new pending sales slowing and price reductions ticking up. The most notable thing in the data this week is that, while home prices nationally are still holding a few percentage points higher than last year, home prices have started to decline in a few states — Florida, Arizona and Tex
CoreLogic has issued its 2024 Hurricane Risk Report , offering an analysis of hurricane risk in the U.S., shedding insight for property owners, insurers, and policymakers. This upcoming hurricane season, the National Oceanic and Atmospheric Administration (NOAA) anticipates a return to La Niña conditions in the Pacific Ocean, with North Atlantic Ocean sea surface temperatures already warmer than any previous year on record.
HousingWire’s 2024 Marketing Leaders award recognizes the most creative and influential marketing minds in the housing economy. This year’s winners have demonstrated exceptional creativity, strategic thinking, and the ability to adapt in a rapidly-evolving landscape. Their innovative campaigns have captivated audiences, elevated brand visibility, and ultimately driven measurable results.
According to a new report from Intercontinental Exchange, Inc (ICE) covering June 2024, data shows that annual home price gains continued to cool in April, marking the second month of pullbacks. Gains of +6.1% year over year in February slowed to a revised +5.7% in March before easing to +5.1% as of April. As ICE’s VP of Enterprise Research Strategy Andy Walden explains, the cooling is apparent from both seasonally adjusted and unadjusted perspectives.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Keller Williams Realty has launched a real estate assistant that is powered by generative artificial intelligence (AI) and is trained on the company’s proprietary models, systems, books and training resources. “We are thrilled to bring this AI-powered tool to agents and look forward to its transformative impact on their work,” Chris Cox, KW’s chief technology and digital officer, said in a prepared statement.
According to a new report from Redfin, nationwide, 6.4% of home sellers cut their asking prices during May, the highest share since November 2022. By the numbers, the median asking price dropped roughly $3,000 to $416,623, the first such decline in six months. Additionally, for-sale supply is growing more stale: the typical home is on the market longer—a trend that also started in May—to a median of 46 days.
According to a new report from Redfin, nationwide, 6.4% of home sellers cut their asking prices during May, the highest share since November 2022. By the numbers, the median asking price dropped roughly $3,000 to $416,623, the first such decline in six months. Additionally, for-sale supply is growing more stale: the typical home is on the market longer—a trend that also started in May—to a median of 46 days.
When California legislators voted in 2021 to eliminate zoning laws that require neighborhoods to have only single-family homes, supporters and detractors alike fiercely argued that it would have a big impact. But two years after Senate Bill 9 went into effect, fewer than 500 property owners have sought to subdivide their land, and the number of new housing units completed is only in the dozens, according to The Wall Street Journal, which cited state data.
MLSs will no longer display offers of compensation, but some online startups say they have workarounds that comply with new rules. The DOJ may disagree.
The Consumer Financial Protection Bureau (CFPB) is creating a public database to identify nonbank financial companies that violate consumer laws, aiming to avoid recidivism trends. On Monday, the U.S. consumer financial watchdog announced that it finalized a rule establishing the new registry. It requires lenders caught violating consumer law to report certain final agency and court orders and judgments, including consent and stipulated orders.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Roof AI , an artificial intelligence -powered sales assistant that helps real estate and mortgage companies generate revenue across their business units, announced the integration of OpenAI ’s technology into its system, significantly boosting its capabilities. At the heart of this innovation is Roof AI’s sales assistant, which is now powered by advanced large language models (LLMs).
The cyberattack that crippled First American Financial ‘s systems in late December affected a total of 44,000 individuals, according to filings submitted to regulators on Friday. In an 8K disclosure submitted to the Securities and Exchange Commission (SEC), the title insurance firm said the company’s investigation of the incident has concluded, although few additional details were provided.
Steven Curtis has joined Nations Reliable Lending (NRL Mortgage) as chief production officer. Curtis has a wealth of expertise and a proven track record. Prior to joining NRL Mortgage, he served as senior vice president at Security National Mortgage and Fairway Independent Mortgage, where he consistently demonstrated a keen ability to navigate complex market dynamics and deliver exceptional results.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
After falling out of favor due to their role in the 2008 housing crash, adjustable-rate mortgages (ARMs) have gained popularity over the past few years. In a tight market with low inventory and higher interest rates, many homebuyers take out ARMs because they carry lower rates for an initial period of fixed interest and amortize over a 30-year term.
GO Mortgage , a national mortgage lender headquartered in Columbus, Ohio, and PacRes Mortgage , a national boutique lender operating in the West, have entered a merger agreement which is expected to close in the third quarter. The merger will combine two mortgage lending platforms, each in business for over 20 years, with geographically diverse footprints and deep customer relationships.
Mortgage subservicer Dovenmuehle Mortgage announced two promotions within its business development team this week. Anna Krogh was named senior vice president and director of business development, while Chris Torres is the new vice president of business development and manager for the Western region. Krogh joined Dovenmuehle in 2022 from Associated Bank in Chicago.
Anna Krogh has been promoted to senior vice president and director of business development at Dovenmuehle Mortgage , Inc., a residential mortgage subservicer. In addition, Chris Torres has been promoted to vice president of business development and manager of the western region. “Dovenmuehle continues to enjoy strong industry interest in our mortgage subservicing offerings, and that demand is in no small part due to Anna and Chris’s ongoing efforts,” says David Allison, senior vice president of
MoxiWorks , a real estate technology platform for agents , announced Monday that longtime CEO York Baur will be stepping down as CEO and Eric Elfman will replace him. Baur will remain on the company’s board of directors. Elfman will lead all aspects of the company. His focus will be ”improving the agent experience in MoxiWorks and accelerating the development of a modern platform for agents and brokerages of all size, leveraging the power of AI,” the company stated in a news release.
The market backdrop It’s a hard time out there for real estate. The main impact of the Fed’s interest rate hikes is that capital is harder to come by. That has resulted in credit standards tightening and fewer transactions happening in the market (according to CBRE, commercial real estate volumes were down 54% through Q3 2023 ). As has been reported thoroughly, this will be a problem for people who are not well-positioned.
Unlike other real estate professionals who have hopped between brands and companies, Amy Lessinger has spent the vast majority of her nearly three-decade-long career at RE/MAX. During her 26 years at the firm, Lessinger has been an agent, a team leader and a broker-owner before ultimately being named president of RE/MAX in February 2024. HousingWire recently caught up with Lessinger to discuss how she is using all of her experience and knowledge of RE/MAX to help her in this newest leadership ro
Inventory shortages challenge buyers, but new construction, boosting sales by nearly 14 percent, offers opportunities for professionals. Learn how to confidently compete and seize these opportunities.
A study commissioned by the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. Released late last year, the study examined three core elements of HECM program effectiveness between 2000 and 2020.
The interactive chatbot draws on Keller Williams' proprietary models, systems, books and training resources to answer agents' questions and assist with content creation.
Picasso answered “$5,000 madam.” “But it only took you five minutes.” “No, madam, it took me my whole life.” The Appraisal Institute has been a source of frustration and criticism within the appraisal profession for quite some time. I must admit that I have also expressed my dissatisfaction with them. Nevertheless, I must acknowledge that the new CEO, Cindy Chance, appears to be a positive change and is making some valuable points about our profession from her new position.
Eric Elfman previously founded Onit, which focuses on artificial intelligence and workflow automation. Former MoxiWorks CEO York Baur is remaining on the company's board.
The median age of construction workers is 42, one year older than a typical worker in the national labor force, according to NAHB analysis of the most recent 2022 American Community Survey (ACS) data. However, more younger people are joining the construction industry. Despite some improvements since the peak of the skilled labor shortage in.
If you are a new investor with limited capital, having the misfortune of renting to a bad tenant in a tenant-friendly state can cripple you financially and put you off […]
Anita Legacy Blue, president of the 2024 LGBTQ+ Real Estate Alliance, writes that Pride Month presents an opportunity for the community and allies to support each other.
While golden visas are sunsetting or significantly changing around Europe, there are still a few opportunities for Americans to buy international real estate, to live in or rent out, at […]
While teams are not for everyone, team leader Carl Medford believes teams and their agents stand a good chance of coming out ahead as market changes are enacted on Aug. 17, 2024.
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