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As the cost of living remains elevated, more seniors — even those in “senior strongholds” like South Florida — are choosing to return to work. This pattern among seniors living in and around Fort Lauderdale was recently profiled in an article in the South Florida Sun Sentinel. It falls in line with a broader national trend indicating that nearly 20% of Americans ages 65 and older remain in the workforce, totaling about 10.6 million people.
While buyers weigh many factors when it comes to purchasing a home, in 2017, Realtor.com released its first Hottest ZIP Codes Report. This year, 43230 in Gahanna, Ohio, became the top-ranked ZIP code for the second year in a row. The Midwest and the Northeast are home to all of this year’s hottest ZIP codes, according to the 2024 report that was just published.
After dropping significantly during the first two weeks of August, mortgage rates have plateaued ahead of a key economic announcement on Friday. That’s when Federal Reserve Chair Jerome Powell is set to speak at the annual Jackson Hole Economic Symposium in Wyoming. Powell is expected to deliver an update on U.S. monetary policy to central bankers, economists and other financial market experts in attendance.
Despite the vast expanse of the United States and the freedom to move across its 3.8 million square miles, most Americans prefer to stay close to home, according to a new analysis by LendingTree. The study, based on data from the U.S. Census Bureau’s 2022 American Community Survey (ACS), reveals that only 11.21% of Americans moved within a year of the survey, with the majority of those who moved staying within their own state.
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 is doing its best to live up to its reputation as a brokerage firm heavy on agent education. On Monday, the firm announced the launch of an agent resource webpage known as “Buyer and Seller Agent Tools to Thrive.” The resource guide is focused on helping agents navigate the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement.
A significant shift in the real estate industry is drawing mixed reactions from the professionals most affected. The new commission rules, which took effect on August 17 following a landmark federal court ruling earlier this year, have disrupted a long-standing practice in the industry. Previously, the commission for a home sale was split between the seller’s agent and the buyer’s agent, but now, buyer’s agents must negotiate their commissions directly with their clients—buyers who, until now, n
A significant shift in the real estate industry is drawing mixed reactions from the professionals most affected. The new commission rules, which took effect on August 17 following a landmark federal court ruling earlier this year, have disrupted a long-standing practice in the industry. Previously, the commission for a home sale was split between the seller’s agent and the buyer’s agent, but now, buyer’s agents must negotiate their commissions directly with their clients—buyers who, until now, n
Real estate technology firm Rexdat has launched its centralized, cloud-based, software-as-a-service (SaaS) platform. The product went live earlier this month, and it helps to streamline real estate services for MLSs , brokerages , appraisers , affiliates, data consumers and Realtor associations. The platform provides industry professionals with a single source for property listings and data, which promotes collaboration and the transparent sharing of listing information among industry profession
Understanding the forces creating the market is indispensable for lenders, real estate professionals, developers, and investors. In this executive conversation, we talk with Jean-Laurent Pouliot about current dynamics in the multifamily space, the impacts of federal policy, challenges posed by aging rental stock, and opportunities created by shifting demographic trends.
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.
In the newest episode of the Power House podcast , HousingWire CEO Clayton Collins chats with Randell Gillespie, the chief production officer at Lower and a 2023 recipient of the HousingWire Vanguard Award. The duo dive into several topics, including Lower’s transformed culture and leadership structure following its acquisitions of Thrive Mortgage and Universal Lending.
The Better Homes and Gardens Real Estate network has grown its presence in the Pacific Northwest. On Monday, Better Homes and Gardens Real Estate (BHGRE) Northwest Home Team announced its acquisition of Tacoma, Washington -based 253 Realty. The financial terms of the deal were not disclosed. 253 Realty was founded in 2013 by Shawn Viguerie. Prior to venturing out on his own, Viguerie served as a managing broker at another local firm.
This piece originally appeared in the August 2024 edition of MortgagePoint magazine, online now. In any line of business, there is always competition for the required services and problems that must be solved. One key way to differentiate oneself and find a path to success is to seek out a niche where those needs are not being addressed, where the work is complex or tedious or highly technical—the sorts of roles not every company is equipped to fill or wishes to expend resources on, but which
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.
Wells Fargo has agreed to sell most of its commercial mortgage servicing portfolio to Atlanta-based Trimont. The deal is expected to make Trimont the largest servicer of multifamily and commercial loans in the U.S. The transaction includes only Wells Fargo’s non-agency, third-party commercial mortgage servicing (CMS) business. The bank will keep its agency and government-sponsored enterprise ( GSE ) loans, as well as those held on its balance sheet.
According to the recently released Quarterly Mortgage Bankers Performance Report by the Mortgage Bankers Association (MBA), independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $693 on each loan they originated in Q2 of 2024. This is an increase from the reported loss of $645 per loan in Q1 of 2024.
The American Bankers Association (ABA) last week submitted a letter to the Consumer Financial Protection Bureau (CFPB) in which it expressed “significant concerns” about a proposed rule that would ban medical debt from appearing on consumer credit reports. The proposal would bar credit agencies from sharing such debt with mortgage lenders, who in turn would be prohibited from making lending decisions based on how this type of debt could impact an applicant’s financial situation.
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $693 on each loan they originated in the second quarter of 2024, an increase from the reported loss of $645 per loan in the first quarter of 2024, according to the Mortgage Bankers Association’s (MBA) new Quarterly Mortgage Bankers Performance Report.
Ryan Ogata has been leading the reverse mortgage division at Rate — recently rebranded from Guaranteed Rate — for roughly a year, but the division has seen notable growth during that time. According to Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), the company grew its endorsement volume by roughly 870% year to date through July, as noted by RMI’s Jon McCue in a recent interview with HousingWire ’s Reverse Mortgage Daily (RMD).
Wells Fargo is selling the non-agency third-party servicing segment of its commercial mortgage servicing business to Trimont, a commercial real estate loan servicer and advisor based in Atlanta. Wells Fargo says it will continue servicing agency loans and loans held on its balance sheet. “This transaction is consistent with Wells Fargo’s strategy of focusing on businesses that are core to our consumer and corporate clients,” says Kara McShane, executive vice president and head of Wells Fargo Com
Independent mortgage banks (IMBs) are finally seeing light at the end of the tunnel after two grueling, profitless years in the mortgage industry. IMBs and mortgage subsidiaries of chartered banks on average reported a pre-tax net profit of $693 on each loan they originated in the second quarter of 2024, an increase from a loss of $645 per loan in the previous quarter, according to the Mortgage Bankers Association (MBA).
According to a new report from Redfin, U.S. home prices ticked up 0.2% for the second consecutive month in July – the smallest month-over-month increase since January 2023. On a year-over-year basis, home prices rose 6.8% in July, down from 7.3% in June and the lowest annual increase recorded since January. Home prices continue to inch up to all-time highs – albeit more slowly than in previous months – because there is still a shortage of homes on the market relative to buyer demand.
The National Association of Realtors' proposed settlement agreement requires brokers and agents to sign contracts with buyers they're "working with." But what exactly does that mean?
Single-family built-for-rent construction posted year-over-year gains as of the second quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 23,000 single-family built-for-rent (SFBFR) starts.
Images that conceal commission offers, like a "3%" mowed into freshly cut grass, have become a phenomenon on message boards and online residential listings, according to an Inman analysis.
In the latest 2023 NAHB member census, 21% of NAHB builder members listed residential remodeling as their primary business. These remodelers tend to be relatively small, with a median of five employees and a median annual revenue of $1.8 million. They are thus even smaller than NAHB builder members in general, who had a median.
Consumers will learn of the commission settlement via a website, emails and postcards. Claims from homesellers hoping to claim some of the settlement money are due by next May.
The Inman Intel Index goes beyond sentiment and trends by tapping into the industry's most engaged community. Add your voice to real estate's most ambitious monthly survey today.
New National Association of Realtors rules kicked in Saturday. By Monday, agents said they were fielding questions from clients, among other hurdles, but not seeing widespread chaos.
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