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If real estate brokerages fail to make changes to their operations, 79% of them will be unprofitable if the terms of the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement lead to typical agent commissions dropping to 2%. This is according to a study published Tuesday by AccountTECH. The study analyzed the operations of 100 randomly selected brokerages with agent counts ranging between five and 5,000.
Affordability struggles continue for many nationwide, with mortgage rates reported still in the 7% range and the average U.S. home value at $360,681 , up 4.3% year-over-year according to Zillow, the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey found that the total number of loans now in forbearance declined slightly to 0.21% as of May 31, 2024.
The primary shareholders of REcolorado — the Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA) — have agreed to sell the company to a private equity investor outside the industry, despite ongoing negotiations with REcolorado’s management and board members to buy back their shares, the vice chair of REcolorado has told HousingWire.
In the U.S., approximately one-third (33.4%) of single-family houses listed for sale in the first quarter were recently constructed; this percentage is down from a record-high 34.5% two years earlier but largely unchanged from a year earlier— according to Redfin. The percentage of newly constructed homes in the market is still over twice that of pre-pandemic levels.
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.
An expensive housing market doesn’t necessarily translate into a lucrative one for real estate agents. That’s according to a new report from Clever Real Estate , a company that connects homebuyers and sellers with agents. The company weighted 14 different variables to rank the top 50 metro areas in the U.S. in terms of how friendly they are to agents.
So you have enough money for a down payment, that’s great! What about unexpected leaks? Roof repairs? The steep list of unexpected and overwhelming amount of maintenance homeowners experience over the course of owning a home isn’t something they necessarily fancy. To better understand homeowner attitudes and discover how first-time purchasers spend their money, Angi conducted a poll of over 1,000 people who had purchased a home in the previous five years.
So you have enough money for a down payment, that’s great! What about unexpected leaks? Roof repairs? The steep list of unexpected and overwhelming amount of maintenance homeowners experience over the course of owning a home isn’t something they necessarily fancy. To better understand homeowner attitudes and discover how first-time purchasers spend their money, Angi conducted a poll of over 1,000 people who had purchased a home in the previous five years.
A month after reaching an all-time high , the S&P CoreLogic Case-Shiller U.S. National Home Price Index did it again in April, according to a release on Tuesday. Despite the index reaching another record high, the report found that home price appreciation is decelerating. The national index posted a 6.3% annual gain in April, down from the 8.3% jump in March, bringing it to a record-high reading of 320.42.
Originally benchmarked to a level of 100 January 2000, the S&P CoreLogic Case-Shiller Index has reached an all-time high of 320.42 which represents a continuous and steady push of ever-rising home prices on a monthly and yearly basis. Put another way, the U.S. National Index, the 20-City Composite, and the 10-City Composite upward trends decelerated from last month, with pre-seasonality adjustment increases of 1.2%, 1.36% and 1.38%, respectively.
A report released Tuesday by the Consumer Federation of America (CFA) found that the California Association of Realtors’ (CAR) buyer representation and broker compensation agreement is “virtually unreadable.” The release notes that the CFA sent this analysis to the Department of Justice (DOJ) two weeks ago. Additionally, the CFA stated that California Realtors have obtained a copy of the analysis.
Association owners of REcolorado say now is “the right time to sell” and that decoupling MLSs and associations can provide protections and improve operations.
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.
Mortgage rates have leveled off in the past week, according to data on HousingWire ‘s Mortgage Rates Center. The average 30-year rate for conforming loans sat at 7.08% on Tuesday, unchanged from one week ago, while the 15-year rate rose 1 basis point to 6.63% during the week. There has been considerable downward movement in rates over the past few months after the 30-year rate peaked at 7.58% in early May.
Baby boomers and members of Generation X are staying in their homes for longer, which may be due to the high level of emotional attachment they have in their homes. This is according to a new report from Opendoor , which describes emotional attachment to the home as “an oft-ignored consideration in real estate decision-making for those aged 55 and up.
The five defendants in Batton 2 — Compass, eXp, Redfin, Weichert and United — filed a joint motion, arguing that the claims are untimely and lack merit.
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.
Austin-based independent brokerage TJ Lewis Real Estate is affiliating with Keller Williams , according to an announcement on Tuesday. According to the news release, TJ Lewis will affiliate directly with Keller Williams’ Austin Southwest market center. The firm is led by broker Topher Rogers, who is making the move to Keller Williams along with 31 agents.
The Carrington Companies CIO Brett Wilbur After 17 years of service to The Carrington Companies in various information technology (IT) and data management roles, Brett Wilbur has been promoted to EVP, Chief Information Officer, reporting directly to Andrew Taffet , CEO of The Carrington Companies. In his new role, Wilbur assumes the diverse responsibilities of overseeing all aspects of the IT organization and providing leadership as Carrington continues to optimize its existing infrastructure an
The Consumer Financial Protection Bureau (CFPB) this week announced the approval of a new rule that aims to govern “current and future applications of complex algorithms and artificial intelligence used to estimate the value of a home.” The rule specifically targets automated valuation models (AVMs), according to an announcement from CFPB Director Rohit Chopra and deputy director Zixta Martinez.
When asked to rank-order the most critically important issues facing mortgage lenders today, respondents to The Mortgage Collaborative ’s 2024 Pulse of the Network survey identified business development as their top concern. And while 36.7% of respondents have their sights set on expansion, three in five respondents said they were more worried about attaining or retaining profitability than growing market share.
Home appraisals are critical to the home buying and selling process. While they’re one of the best opportunities for an objective party outside the deal to assess a home’s true value, they can also torpedo an asking price or cause a lender to rescind its financing offer. But that’s not all a home appraisal can do. Let’s take a closer look at appraisals, what they mean for a sale, and how to leverage the results to get your clients the best price possible.
Paul Nicholson has joined The Amherst Group , a real estate investment, development and operating platform specializing in residential assets, as deputy chief investment officer. Nicholson joins from Santander, where he was the chief risk officer of Santander US Capital Markets, a role he has held since Santander’s acquisition of Amherst Pierpont. He first joined Amherst Securities Group in 2004 as co-head of the MBS trading desk and was instrumental in the merger of Amherst Securities Group and
The year was 2019. I was working hard to make my mark as the Midwest Regional Director for Franchise Sales for Coldwell Banker Real Estate, LLC, the national franchisor. It wasn’t a job I was overly excited about, but I knew the training and field work would help round out my resume. It was the most stressful job I had ever had but I was starting to find my groove.
Optimal Blue has introduced Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions. Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the U.S., the company says in a release The data solution provides lenders with extensive insight into markups, loan-level pric
REcolorado was surprised to learn this week that its primary shareholders — the Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA) — have agreed to sell the company to a private equity firm. REcolorado — which is the 16th-largest MLS in the country with 25,000 members — said it had reached a deal to buy the shares of the company from the associations earlier this year before DMAR and SMDRA broke off communication.
Driven by lack of inventory, U.S. home prices continued to soar in April, rising 0.3% on an adjusted basis compared with March, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 10-city and 20-city composites increased 0.5% and 0.4%, respectively, compared with March. Year-over-year, home prices were up 6.3%.
Anaheim, California -based nonbank Change Lending on Tuesday announced the hiring of Madison Simm as its new chief financial officer. Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. He comes to Change Lending after a stint as president of real estate at Texas Capital Bank.
The multiple listing service is one of the largest in the US. One board member who was part of a team trying to buy the MLS described being blindsided by the private equity deal.
The Mortgage Bankers Association (MBA) this week submitted a letter to congressional leaders in the U.S. House of Representatives and U.S. Senate , urging them to endorse full funding for Ginnie Mae in order to ensure maximum liquidity for the government-backed corporation’s mortgage-backed securities (MBS) issuers. In addition to the MBA, signatories on the letter include the Community Home Lenders of America (CHLA), the Housing Policy Council (HPC), the National Association of Realtors (NAR),
New report shines light on buyer representation agreements as brokerages and Realtor organizations move to update forms and comply with legal settlements this summer.
Xactus , a Pennsylvania -based mortgage technology firm that specializes in borrower verifications, announced Tuesday that it has hired Joseph Peterson as chief financial officer. Peterson will be responsible for the company’s overall financial operations. He will manage the strategic direction of the firm’s accounting and finance departments by developing policies, procedures and financial controls; ensure the accuracy of internal and external reporting; identify investment opportunities; and s
Whether you're working with first-time homebuyers or helping seniors stay in their homes, the way that you support homeownership matters, writes broker-owner Teresa Boardman.
Stamford, Connecticut -based independent brokerage NewBridge International Realty Group is affiliating with Coldwell Banker Realty , according to an announcement on Tuesday. “We are thrilled to welcome branch NewBridge International Realty Group to Coldwell Banker Realty,” Jennifer McCoy, vice president of Coldwell Banker Realty in Stamford, said in a statement.
By providing comprehensive support and fostering a culture of continuous improvement, Manny Solis writes, teams empower their agents to excel in a competitive market while delivering exceptional service to their clients.
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