Housing Wire

JUNE 3, 2024

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

Inventory 516

Inventory Contracts New Listings Sellers 516

Appraisal Buzz

JUNE 3, 2024

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.

Insurance 397

Insurance Development Appraisal 397

Housing Wire

JUNE 3, 2024

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.

Real Estate 482

Real Estate Training Real Estate Agent Agents 482

Appraisal Buzz

JUNE 3, 2024

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.

Mortgage 370

Mortgage Inventory Housing Market Marketing 370

Housing Wire

JUNE 3, 2024

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.

Marketing 482

Marketing Advertising Realty Real Estate 482

Appraisal Buzz

JUNE 3, 2024

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.

Sellers 305

Sellers Renovations Buyers New Listings 305

Real Estate News

JUNE 3, 2024

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.

299

299

Housing Wire

JUNE 3, 2024

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.

Law 475

Law Business Mortgage Lending 475

Real Estate News

JUNE 3, 2024

York Baur will remain on the board of directors, while Eric Elfman, a tech leader from outside the real estate industry, moves into the top role.

Real Estate 278

Real Estate 278

Housing Wire

JUNE 3, 2024

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).

Technology 468

Technology Real Estate Brokerage Modernization 468

Real Estate News

JUNE 3, 2024

Keller Williams launches AI assistant; Houston Association of Realtors partners with RentSpree; Detroit's Realcomp MLS adds Lundy voice tech.

Realtors 264

Realtors 264

Housing Wire

JUNE 3, 2024

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.

Insurance 463

Insurance Mortgage Finance Technology 463

Appraisal Buzz

JUNE 3, 2024

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.

Lending 195

Lending Mortgage Appraisal Marketing 195

Housing Wire

JUNE 3, 2024

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.

Mortgage 450

Mortgage Inventory Marketing 450

Appraisal Buzz

JUNE 3, 2024

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 195

Mortgage Lending Technology Clients 195

Housing Wire

JUNE 3, 2024

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.

Mortgage 448

Mortgage Development Business Technology 448

Appraisal Buzz

JUNE 3, 2024

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

Client Relationships 195

Client Relationships Mortgage Development Clients 195

Housing Wire

JUNE 3, 2024

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.

Real Estate 447

Real Estate Brokerage Modernization Legal 447

Appraisal Buzz

JUNE 3, 2024

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.

Investors 195

Investors Marketing Renovations Real Estate 195

Housing Wire

JUNE 3, 2024

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

Agents 446

Agents Buyers Design Business 446

Inman

JUNE 3, 2024

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.

Business 190

Business Construction Inventory Buyers 190

Housing Wire

JUNE 3, 2024

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.

Insurance 439

Insurance Development Mortgage 439

Inman

JUNE 3, 2024

The interactive chatbot draws on Keller Williams' proprietary models, systems, books and training resources to answer agents' questions and assist with content creation.

Training 190

Training Agents Technology Brokerage 190

Appraiserblogs

JUNE 3, 2024

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.

Appraisal 122

Appraisal 122

Inman

JUNE 3, 2024

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.

Technology 187

Technology 187

Eyes on Housing

JUNE 3, 2024

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.

Construction 97

Construction 97

Inman

JUNE 3, 2024

Affordability continues to create challenges for would-be buyers, keeping renters in place for longer, according to a new report from Redfin.

Buyers 185

Buyers 185

BiggerPockets

JUNE 3, 2024

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 […]

Tenants 92

Tenants Law Landlords Real Estate 92

Inman

JUNE 3, 2024

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.

Real Estate 183

Real Estate Brokerage Agents Marketing 183

BiggerPockets

JUNE 3, 2024

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 […]

Investing 92

Investing Real Estate Marketing Housing Market 92

Inman

JUNE 3, 2024

Nesthook claims it allows agents to "communicate commission amounts while remaining fully compliant with settlement requirements." Whether it runs afoul of the new rules remains unclear.

Agents 183

Agents Buyers Technology Brokerage 183

BiggerPockets

JUNE 3, 2024

Could Coast FI be your BEST path to financial independence? Maybe you don’t want to retire early—not yet, at least.

Investing 91

Investing 91

Inman

JUNE 3, 2024

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.

Agents 182

Agents Buyers Marketing Real Estate 182

BiggerPockets

JUNE 3, 2024

“You’re investing in preferred equity? No thanks—I don’t invest in rescue capital!

Real Estate 91

Real Estate Investing Investors 91