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Over the last decade, real estate transactions have increasingly become a prime target for cybercrime. Far from slowing down, the scams are becoming more prevalent, sophisticated, and difficult to recognize as fraudulent. With October being Cybersecurity Awareness Month, it is important that the real estate industry and consumers speak up and spread the word about how to prevent these real estate cybercrimes.
An estimated 1.4 million (1,355,909) residential homes in the U.S. remain unoccupied, according to ATTOM ‘s fourth-quarter 2024 Vacant Property and Zombie Foreclosure Report. That percentage, or one in 77 households nationwide, is about the same as it was in the third quarter and only somewhat higher than it was a year ago. In Q4 of this year, 215,601 residential properties in the U.S. were in foreclosure, according to the data.
It’s been one year since the Sitzer/Burnett verdict was rendered in Missouri. What has changed for real estate brokerages since then? (Image generated by AI in Midjourney) Editor’s note: This is the fourth in a series of articles that will explore the effects of the landmark Sitzer/Burnett case, which was decided on Oct. 31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country.
Homebuyer affordability improved slightly in September, as the national median payment applied for by purchase applicants fell to $2,041, down from $2,057 in August, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
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.
Interior property data company CubiCasa announced the launch of an interactive touring product for listing agents. The new CubiCasa Tour product will create interactive, virtual property tours within minutes. The new product uses similar software to CubiCasa’s Floor Plans, another virtual listing tool that builds floor plans in five minutes or less.
Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. The average buyer’s agent commission for homes sold in October was 2.34%, ticking down just one basis point from 2.35% for homes sold in August, when the new changes took effect.
Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. The average buyer’s agent commission for homes sold in October was 2.34%, ticking down just one basis point from 2.35% for homes sold in August, when the new changes took effect.
The real estate industry is racing to find ways that artificial intelligence (AI) can improve business practices. ClearValue Consulting thinks it’s found a way. The firm has partnered with Restb.ai to bring computer vision to its valuation review platform called Certainty. The companies hope Restb.ai’s technology can help ClearValue’s appraisal review clients improve efficiency and quality control while also reducing costs.
In September, the national median payment that purchase applicants sought for dropped from $2,057 in August to $2,041, indicating an improvement in homebuyer affordability. This is in line with the Mortgage Bankers Association ‘s (MBA) Purchase Applications Payment Index (PAPI), which uses information from the MBA Weekly Applications Survey (WAS) to calculate how new monthly mortgage payments change over time in relation to income.
Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah. The interest rate on the loan has been lowered from 9.99% to 9.49%.
Prices have been pretty flat. That’s a really good way to describe the housing market lately in many areas across the country. Let’s talk about that today as well as dig into insurance. I have some encouragement to share too about mindset. UPCOMING SPEAKING GIGS: 11/7/2024 Think Like an Appraiser (3 hours) TBA 11/19/24 Downtown […] The post Flat prices & the insurance mess first appeared on Sacramento Appraisal Blog.
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.
By at least one measurement, affordability is improving for prospective homebuyers, even as home prices continue to rise and mortgage credit availability remains relatively low. According to data released Thursday by the Mortgage Bankers Association (MBA), the median payment for purchase loan applicants declined by 0.8% from August to September. The median payment for these prospective borrowers dropped to $2,041 last month.
Stern & Eisenberg President of Default Services Dave Lambropoulos Esq. Stern & Eisenberg have announced the election of Dave Lambropoulos Esq. to the position of President of Default Services. Prior to this appointment, Lambropoulos served as the Managing Attorney of New Jersey for 12 years at Stern & Eisenberg. Throughout his tenure, his team consistently delivered exceptional results, achieving top rankings in client default challenges.
It has already been a busy week for Howard Hanna Real Estate Services (HHRES) and it is only Thursday. The family-owned brokerage firm announced the completion of two acquisitions on Wednesday. The financial terms of the deals are not being disclosed. While Ohio is already a stronghold for the Pennsylvania -based firm, Howard Hanna strengthened its position in the buckeye state through its recent acquisition of Dayton-based Big Hill Realty.
Only 32.1 percent of renter households currently pay less than $1,000 in monthly rent — a sharp decline from 35.2 percent in 2022 and 50.4 percent in 2012, according to an analysis from Redfin released Wednesday.
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.
Ginnie Mae acting president Sam Valverde has been operating in his current position at the government-owned company for much of 2024. He is overseeing the sizable government portfolio of mortgage-backed securities (MBS) while navigating the company’s stated need for more budgetary resources. But he has also stepped into his role following an effective working relationship with his predecessor and the last Senate-confirmed Ginnie Mae president, Alanna McCargo.
Nora Guerra has joined Guild Mortgage as SVP of Community Lending Solutions, further solidifying the company’s dedication to fulfilling the promise of homeownership. Guerra has over 25 years of mortgage sector leadership experience, most recently as the senior manager of National Affordable Lending at Freddie Mac. “Nora Guerra has long been a champion in our industry, educating and leading initiatives to help make homeownership an achievable goal for everyone,” said Terry Schmidt, CEO of Guild M
Real estate agent commissions have held steady since August, but there’s a divergence at different price points. That’s the conclusion of new data from Redfin , which shows that the average commission between August and October dropped by 1 basis point to 2.34%. The data is derived from sales by Redfin agents who have closed a transaction in October or are scheduled to by the end of the month.
It’s Halloween, and while there will be numerous little zombies wandering neighborhood streets this evening, it’s unlikely we will see much of another kind of walking dead: The elusive zombie foreclosure. That because the U.S. labor market and economy-at-large remain relatively strong. With most homeowners gainfully employed and a majority “rate locked” into their current mortgages, mortgage performance continues to be stellar.
The Federal Housing Finance Agency (FHFA) on Thursday said it will aim to simplify the process of funding affordable housing projects through the Federal Home Loan Banks (FHLBanks). The advisory bulletin came in response to comments by sponsors that have called the process too cumbersome. “Each of the 11 FHLBanks operates an Affordable Housing Program (AHP) providing grants or subsidized advances to fund rental housing and homeownership opportunities for low- and moderate-income households,” the
Xactus Chief Marketing Officer Sasha Stair Fintech and verification solutions provider Xactus has announced the appointment of Sasha Stair as the company’s new Chief Marketing Officer. “This is a pivotal moment for our organization,” said Shelley Leonard, President of Xactus. “Having a Chief Marketing Officer who can seamlessly partner with our sales team and across all areas of the business is crucial for our growth.
AI-powered chatbots are coming to the mortgage servicing industry. But there is still a question as to how receptive borrowers will be to this new interactive technology. According to a recent report from J.D. Power, three-fourths of business leaders say they are planning to escalate their AI investments, as they see its potential to redefine customer service and many other business functions.
Unison Mortgage Corp. , a Unison company, has launched its Equity Sharing Home Loan in Oregon, which enables homeowners to receive cash the same day at below-market rates. Unison also recently announced that global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from Unison. The Unison Equity Sharing Home Loan combines the benefits of home loans and home equity sharing agreements into a unique mortgage solution that allows homeowners to convert p
Commissions have been slowly declining over the last decade, but since the NAR settlement terms went into effect this summer, buyer's agent commissions have seen little impact.
In the “spirit” of Halloween, a new survey finds that many people would settle for a haunted house over one with maintenance issues or political neighbors.
Judge Stephen Bough granted approval for settlements involving Compass, Douglas Elliman, @properties and other companies. Collectively, the companies will pay $110 million to resolve the litigation.
Approximately 27% of the national housing stock consists of multifamily homes—defined as residential buildings with multiple separate housing units within one structure. According to the 2023 American Community Survey 1-year estimates, these units range from small duplexes, triplexes, and quadplexes (2 to 4 units) to medium-sized buildings (5 to 49 units) and large complexes (50.
Onward BOLD gives Keller Williams agents access to lead generation resources, among many other things. The program is relaunching amid a period of upheaval for the real estate industry.
Consumers will one day visit multiple real estate sites, including Compass.com, to find listings in the same way they now search for content on Netflix and Disney+, the Compass CEO predicted.
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