Housing Wire

OCTOBER 25, 2023

While existing homebuyers have been battling high mortgage rates for months — which are now at 8% — the builders are wooing buyers with lower rates and incentives. Today, the new home sales data beat expectations and surprised people. However, sales have been rising slowly for some time. Using a low bar of sales from last year, the builder’s incentives have created more sales growth and their significant advantage is that they’re offering lower rates to move homes.

Mortgage 507

Mortgage Inventory Construction Development 507

Real Estate News

OCTOBER 25, 2023

The median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.

Inventory 275

Inventory 275

Housing Wire

OCTOBER 25, 2023

With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” Joel Kan, MBA’s vice president and deputy chief economist, said.

Mortgage 476

Mortgage Realtors Finance Marketing 476

Real Estate News

OCTOBER 25, 2023

Defense attorneys argued that an “ambush video” introduced Tuesday in the Sitzer/Burnett trial was grounds for a mistrial, but the judge disagreed.

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Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

OCTOBER 25, 2023

With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. Buyers that did manage to purchase homes made higher down payments as home-price growth remained stubbornly elevated in Q3, according to a new report from LenderLogix. The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers.

Buyers 459

Buyers Marketing Loan Officers Mortgage 459

Housing Wire

OCTOBER 25, 2023

For nearly 30 years, Deion Sanders has been a recognizable name in the sports world. He’s made headlines again this summer after being named the new head football coach at the University of Colorado Boulder and subsequently undergoing a roster overhaul that resulted in the departure of 81% of last year’s roster. A majority of the exits were made after Sanders and the coaching staff audited the roster and determined it wasn’t optimized for the desired productivity and results.

Tools 459

Tools Technology Training Mortgage 459

Real Estate News

OCTOBER 25, 2023

“We want to set up agents to be million-dollar producers” and remain W-2 employees, Jason Aleem, Redfin’s SVP of real estate operations, told Real Estate News.

Agents 211

Agents Real Estate 211

Housing Wire

OCTOBER 25, 2023

A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions. The annual number of weather/climate-related disasters exceeding $1 billion per event has more than doubled over the last five years from historical averages. Homeowners in affected markets have experienced increases in premiums that threaten their financial soundness or are finding cancellation notices in their mailboxes.

Insurance 459

Insurance Finance Investors Mortgage 459

Inman

OCTOBER 25, 2023

On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.

Realtors 199

Realtors Brokerage Agents 199

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Real Estate

Housing Wire

OCTOBER 25, 2023

KANSAS CITY, Missouri — Courtroom proceedings in the Sitzer/Burnett commission lawsuit continued on Wednesday — after some drama — with HomeServices of America CEO Gino Blefari taking the stand. Blefari was cross-examined by Michael Ketchmark, the lead attorney for the plaintiffs. As Ketchmark began his questioning, he tried to show that the structure of HomeServices as the parent company of so many affiliates and franchises had the effect of enforcing the National Association of Realtors’

Sellers 448

Sellers Realtors Agents Buyers 448

Inman

OCTOBER 25, 2023

First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.

Buyers 199

Buyers Mortgage Construction Brokerage 199

Housing Wire

OCTOBER 25, 2023

New home sales figures exceeded projections in September despite mortgage rates at 23-year high, declining mortgage applications and waning builder confidence. In September, the sales pace of new homes picked up considerably, up 12.3% compared to August ’s revised rate of 676,000. New home sales in September reached a seasonally adjusted annual rate of 759,000, according to data published on Wednesday by the U.S.

Inventory 448

Inventory Construction Housing Market Finance 448

Inman

OCTOBER 25, 2023

HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial.

Realtors 198

Realtors Brokerage Agents 198

Housing Wire

OCTOBER 25, 2023

The Financial Crimes Enforcement Network ( FinCEN ), a bureau within the U.S. Treasury Department, announced last week that it will again be expanding its Geographic Targeting Orders (GTOs). The new requirements are effective through mid-April 2024. The GTOs require title companies to identify the people behind shell companies used in all-cash purchases of residential real estate.

Real Estate 448

Real Estate Law Design Development 448

Inman

OCTOBER 25, 2023

Loan applications slipped to lowest level since 1995 as mortgage rates climb for the seventh week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association.

Mortgage 195

Mortgage Marketing 195

Housing Wire

OCTOBER 25, 2023

A combination of mortgage volatility and extreme margin compression forced Homestar Financial Corp. to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. 31, 2023. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.

Retail 435

Retail Mortgage Government Marketing 435

George Dell

OCTOBER 25, 2023

We’re gonna crash! Now What? An appraiser’s job is to reflect the market. A couple of questions: What is “the” market? And how do I reflect? I like to divide consumer behavior into two thought patterns: Micro and Macro thinking. Micro thinking is under the assumption that the buyer is buying for personal use – […] The post Market Crash Adjustment?

Marketing 195

Marketing Buyers Market Value Appraisal 195

Housing Wire

OCTOBER 25, 2023

Long known for its salaried compensation for agents, Redfin is trying a new pay model in two of the nation’s largest housing markets to help boost its market share. Under Redfin Max , a new pay plan being rolled out in Los Angeles and San Francisco , Redfin agents earn commission splits of up to 75% for transactions they generate on their own, according to a company announcement on Wednesday.

Agents 435

Agents Real Estate Tools Investors 435

Inman

OCTOBER 25, 2023

New-home sales skyrocketed in September, soaring to a 20-month high, according to data issued Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.

Development 193

Development Marketing 193

Housing Wire

OCTOBER 25, 2023

First Team Real Estate , the largest independent brokerage in California , left Christie’s International Real Estate , the company first told Inman on Wednesday. Christie’s International Real Estate told Inman that the parting was “mutual.” “Christie’s will be a great franchise, but First Team is something different from that,” First Team founder Cameron Merage said in a statement.

Brokerage 435

Brokerage Real Estate Agent Real Estate Agents 435

Inman

OCTOBER 25, 2023

Agents are doubling down on networking to drive business in tough times, according to results from the Inman Intel Index, excerpts of which are available to Select subscribers for the first time.

Agents 190

Agents Business Mortgage 190

Housing Wire

OCTOBER 25, 2023

The plaintiffs in the Nosalek buyer broker commission lawsuit have asked Judge Patti Saris of the U.S. District Court in Boston to stay their case, along with defendants RE/MAX and Anywhere. In their motions to stay the case, the plaintiffs in the Nosalek suit state that they have agreed to the “ substantive terms ” of Anywhere ‘s and RE/MAX ‘s settlement agreements in the Sitzer/Burnett and Moehrl buyer broker commission lawsuits.

Buyers 435

Buyers Realtors Real Estate Sellers 435

Inman

OCTOBER 25, 2023

The largest privately held brokerage in the state of California has decided to separate from Christie's International Real Estate, launch a rebrand and promote former COO Michele Harrington to CEO, Inman has learned exclusively.

Brokerage 190

Brokerage Real Estate Agents 190

Housing Wire

OCTOBER 25, 2023

It has been an eventful and drama-filled 24 hours in Kansas City, Missouri, for the Sitzer/Burnett class-action antitrust buyer broker commission lawsuit. On Tuesday afternoon, after the National Association of Realtors finished its defense, HomeServices of America took the floor. HomeServices’ lead attorney Robert MacGill called Ron Peltier, the former CEO of Berkshire Hathaway HomeServices of America , to testify.

Sellers 435

Sellers Realtors Real Estate Design 435

Inman

OCTOBER 25, 2023

In a powerful and athletic contemporary dance routine, The Agency CEO and dance partner Emma Slater achieved their "best dance yet" on Tuesday night's episode, judge Bruno Tonioli declared.

Agents 190

Agents 190

Housing Wire

OCTOBER 25, 2023

Mr. Cooper Group improved its profitability in the third quarter of 2023 mainly due to the performance of its servicing portfolio, which benefited from high rates and low delinquency. However, the company still faces challenges on the origination side of the business, resulting in lower earnings and origination in the period. On Wednesday, top executives at the company told analysts that Mr.

Business 435

Business Contracts Mortgage Investing 435

Real Estate News

OCTOBER 25, 2023

Plaintiffs in the Nosalek case want to reach a deal with RE/MAX and Anywhere following the brokerage companies’ settlements in Sitzer/Burnett and Moehrl.

Brokerage 188

Brokerage 188

Housing Wire

OCTOBER 25, 2023

Florida -based Keyes Company , an independent real estate brokerage , partnered with housing data aggregator BHR , the company announced Tuesday. Through this collaboration, all Keyes agents will benefit from RealReports, BHR’s flagship product. The latter gathers property data , ranging from climate risk to property valuation, in one place. To do so, RealReports is pulling information from over 30 data providers.

Brokerage 434

Brokerage Real Estate Agent Real Estate Tools 434

Inman

OCTOBER 25, 2023

Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program.

Agents 187

Agents Marketing Brokerage 187

Eyes on Housing

OCTOBER 25, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.

Finance 182

Finance Marketing Mortgage 182

Inman

OCTOBER 25, 2023

New legal filings propose that MLS PIN class members from the Nosalek lawsuit be included in the "substantive terms" of the Sitzer/Burnett and Moehrl settlements with Anywhere and RE/MAX.

Legal 187

Legal Buyers Realtors Real Estate 187

Eyes on Housing

OCTOBER 25, 2023

Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in September at a 759,000 seasonally adjusted annual pace, which is.

Inventory 178

Inventory Development Mortgage Marketing 178