Housing Wire

OCTOBER 19, 2023

The savagely unhealthy housing market continues to unfold as we approach Halloween. Sales are still falling, home prices keep rising, and inventory is still negative year over year. The core problem? Too many people chasing too few goods — and days on the market are still under 30 days. On top of all that, mortgage rates are now at 8%. It’s like we invited Freddy Krueger, Jason and Michael Meyers to come for a haunted housing market party.

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Housing Market Marketing Inventory Buyers 505

Real Estate News

OCTOBER 19, 2023

The summer sales slump continued through September, marking the seventh month of negative sales movement this year.

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Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. You’re probably thinking, “Uh, why on earth would she do that?” The client wanted to pay off $30,000 in consumer debt, handle home improvement projects and help her daughter start college, said Anderson, a longtime mortgage advisor in Southern California.

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Mortgage Clients Lending Home Improvement 497

Real Estate News

OCTOBER 19, 2023

On Day 4 of the Sitzer/Burnett trial, an expert witness for the plaintiffs said the current commissions system is a "clear case" of collusion and price fixing.

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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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 19, 2023

Soaring interest rates and a higher-for-longer policy will take its toll on the economy, according to Fannie Mae ’s Economic and Strategic Research (ESR) group. “The cause of the recent run-up in long-term rates is multifactorial and likely includes some expectation of more resilient economic growth coupled with a higher-for-longer monetary policy stance from the Federal Reserve ,” the ESR group said in its latest economic commentary.

Mortgage 496

Mortgage Inventory Finance Marketing 496

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% for the first time since 2007, according to one index. Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. HousingWire’s Mortgage Rates Center showed Optimal Blue ’s average 30-year fixed rate for conventional loans at 7.78% on Wednesday, compared to 7.52% the previous week.

Mortgage 493

Mortgage Housing Market Inventory Construction 493

Real Estate News

OCTOBER 19, 2023

September data from web traffic aggregator Comscore shows Realtor.com in second place and Homes.com coming in a close third.

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Housing Wire

OCTOBER 19, 2023

In what could be an attempt to get ahead of changes that may be coming to the real estate industry, the Real Estate Board of New York announced some major policy changes this week, as first reported on by The Real Deal. Starting Jan. 1, REBNY rules will prevent the listing brokers from paying buyer agents and instead will require sellers to pay commissions directly.

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Sellers Agents Real Estate Brokerage 459

Inman

OCTOBER 19, 2023

The plaintiffs in a class action antitrust suit challenging the real estate industry’s commission structure took to the stand Wednesday and Thursday to make the case that the practice of homesellers paying buyer agents is “unfair.

Real Estate 202

Real Estate Agents Buyers Brokerage 202

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Real Estate

Housing Wire

OCTOBER 19, 2023

CoStar Group , the parent company of real estate data giant CoStar , has made an offer to acquire OnThe Market , the third most visited residential property portal in the United Kingdom. The announcement bolsters the claim that CoStar is “playing for keeps in the residential real estate market.” The company offered to acquire the U.K. portal for £1.10 per share in cash, amounting to approximately £100 million in total, according to the press release.

Real Estate 448

Real Estate Investing Agents Marketing 448

Inman

OCTOBER 19, 2023

Policy change is intended to help more first-time homebuyers, seniors, and inter-generational families tap the wealth building potential of homeownership.

Law 193

Law Tools Buyers Investing 193

Housing Wire

OCTOBER 19, 2023

Two of Berkshire Hathaway HomeServices Nevada Properties ’ top teams, The Mullin Group and The Blankfeld Group, have merged to create The Mullin Blankfeld Group. Together, they will boast a total of 42 real estate agents , serving clients across different neighborhoods and price points throughout the Las Vegas Valley. “Working together as one group combines a vast range of industry backgrounds that contribute to expertise in every category of real estate.

Real Estate Agent 435

Real Estate Agent Real Estate Clients Agents 435

Inman

OCTOBER 19, 2023

Home sales fell 2 percent between August and September and retreated 15.4 percent from a year ago as prices and interest rates climbed.

Mortgage 192

Mortgage Realtors Marketing 192

Housing Wire

OCTOBER 19, 2023

The third day of the highly consequential Sitzer/Burnett class action buyer broker commission lawsuit included a deep dive into the training materials used by various brokerages and the testimony of three of the named plaintiffs. Several industry executives, including Rene Galicia, the former director of MLS engage at the National Association of Realtors , and Rodney Gansho, the head of engagement at NAR, again appeared via video deposition, according to reports from Inman News.

Training 435

Training Agents Real Estate Brokerage 435

Inman

OCTOBER 19, 2023

As Sitzer | Burnett unfolds, the New York City trade association announced the upcoming rule change amid a nationwide reevaluation of buyer commission structures.

Buyers 190

Buyers Sellers Agents 190

Housing Wire

OCTOBER 19, 2023

Existing home sales fell 2.0% in September from August , reaching a seasonally adjusted annual rate of 3.96 million, according to the National Association of Realtors. Compared to September 2022, existing home sales slumped 15.4%, down from 4.68 million in September 2022. Looking at the four major U.S. regions on a monthly basis, sales only picked up in the Northeast.

Inventory 435

Inventory Realtors Buyers Housing Market 435

Eyes on Housing

OCTOBER 19, 2023

Existing home sales in September fell to lowest level since October 2010 as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the third consecutive month of year-over-year median sales price increase.

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Inventory Mortgage Realtors 189

Housing Wire

OCTOBER 19, 2023

The Real Brokerage has appointed Christian Wallace as chief of integrated home services, the company announced on Thursday. Prior to joining the brokerage , Wallace worked at some of the leading companies in the industry, such as Rocket Homes , Better.com , Opendoor and Farmers Insurance. In this newly created role, Wallace will report to Real Chairman and CEO Tamir Poleg and will oversee Real’s consumer-facing products.

Real Estate Agent 435

Real Estate Agent Brokerage Real Estate Agents 435

Inman

OCTOBER 19, 2023

Kansas City has apparently become the center of the world as the celebrated Chiefs tight end opted for a secluded property in a gated community in the city to facilitate quality time with the "Eras" tour star.

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Housing Wire

OCTOBER 19, 2023

HousingWire Editor in Chief Sarah Wheeler sat down with Matt Lehnen, chief technology officer at Deephaven Mortgage , to talk about building a tech stack for non-QM loans. Lehnen has been at Deephaven for the past five years leading the technology team. Sarah Wheeler: What is DeepHaven’s philosophy on build versus buy? Matt Lehnen: It’s situational.

Technology 435

Technology Tools Investing Lending 435

Inman

OCTOBER 19, 2023

If the 80-20 principle is correct, then agents must delegate tasks. But broker Nick Schlekeway says many agents have taken it too far. Here are the areas agents should stop delegating and personally handle with care.

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Real Estate Agent Agents Real Estate Business 187

Housing Wire

OCTOBER 19, 2023

The inefficiencies of paper documents are undeniable. But when a mortgage lender, credit union, bank, title company or settlement service provider wants to transition away from paper closings , it can be hard to know where to start. DocMagic’s AutoPrep solution is the easiest step a lender can take to automate their eClosing process. It offers instant document e-enablement by leveraging cutting-edge AI, machine learning and powerful Optical Character Recognition (OCR) technology, instantly

Lending 345

Lending Technology Tools Mortgage 345

Inman

OCTOBER 19, 2023

Homebuyers are backing away from the market as mortgage rates continue to climb. But new listings aren't declining as quickly, Redfin reports.

New Listings 187

New Listings Buyers Marketing Mortgage 187

Housing Wire

OCTOBER 19, 2023

Dallas-based United Real Estate is expanding its footprint in its home state. United Real Estate | DFW Properties is merging with Grapevine, Texas-based Insight Realty Network , according to an announcement on Thursday. The merger expands United Real Estate’s agent count to 830 in North Texas and 1,810 statewide. The merged firm, which will operate under the United Real Estate | DFW Properties name, will have agents based out of both United Real Estate’s Fort Worth office and the former Insight

Real Estate 334

Real Estate Realty Brokerage Agents 334

Inman

OCTOBER 19, 2023

Learn how this broker combines the power of commitment and a relationship-driven approach to create exceptional outcomes for her clients.

Clients 187

Clients Brokerage Marketing 187

BiggerPockets

OCTOBER 19, 2023

A district judge in California has tossed out a class action lawsuit against real estate investor and influencer Grant Cardone.

Real Estate 90

Real Estate Investors 90

Inman

OCTOBER 19, 2023

In announcing the $9 million settlement with the Florida lender, Attorney General Merrick Garland said DOJ "currently has over two dozen active investigations into redlining, spanning neighborhoods across the country.

Lending 183

Lending Mortgage 183

BiggerPockets

OCTOBER 19, 2023

We've uncovered the truth about title insurance and answered the question, “What is title insurance?” We’re here to help you understand the difference between lender's and owner's policies.

Insurance 90

Insurance Real Estate 90

Inman

OCTOBER 19, 2023

The Coldwell Banker CMO sat down with Inman to discuss some of the highlights from the real estate company's Gen Blue event this year, which included a highly unscripted interview with NBA giant Shaquille O'Neal.

Real Estate 183

Real Estate Brokerage Marketing 183

BiggerPockets

OCTOBER 19, 2023

The Fed’s new “neutral interest rate” could mean pricier mortgages, less cash flow, and higher home prices for longer.

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Mortgage Marketing 90

Inman

OCTOBER 19, 2023

The shop, located in the northeastern corner of Massachusetts, serves homebuyers and sellers in Newburyport, Newbury, West Newbury, Amesbury, Ipswich, Southern New Hampshire and the New Hampshire seacoast.

Sellers 179

Sellers Brokerage 179

Mortgagebroker News

OCTOBER 19, 2023

'Turbulence' is the best way to describe the current challenges, according to executive

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Real Estate 87