Housing Wire
SEPTEMBER 9, 2024
While inventory of unsold homes in the housing market in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.
Appraisal Buzz
SEPTEMBER 9, 2024
The Five Star Conference 2024 is right around the corner! Set for September 24-26 at the OMNI Hotel in Dallas, the list of scheduled speakers, educational offerings, and networking opportunities continues to grow, offering something for all in the mortgage finance marketplace. At the FORCE Rally , attendees will be presented with relevant content, top-tier speakers, and exclusive insight so attendees can take their business to the next level amidst an unpredictable and tumultuous economic landsc
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Housing Wire
SEPTEMBER 9, 2024
The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. Almost a month after the rules went into effect, that appears to be happening. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.
Appraisal Buzz
SEPTEMBER 9, 2024
Redfin has reported that following revisions to industry rules required by the National Association of Realtors lawsuit settlement , commission negotiations have grown more regular in certain markets and at higher price points. The analysis centers on in-depth interviews conducted nationwide with numerous Redfin agents regarding the reactions of sellers and buyers to the changes.
Housing Wire
SEPTEMBER 9, 2024
The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. And Rohit Chopra , the hard-charging director of the Consumer Financial Protection Bureau , who is often the target of such complaints, apparently agrees. At least when it comes to redundancies with refinancings, that is. “We really think closing costs can be a significant obstacle to refinancing,” Chopra said
Appraisal Buzz
SEPTEMBER 9, 2024
Although there was little change in the general sentiment of homebuyers, the Fannie Mae Home Purchase Sentiment Index (HPSI) rose 0.6 points to 72.1 in August as consumers expressed far higher optimism about the future direction of mortgage rates. A study conducted in August revealed that 39% of consumers, up from 29% the month before, anticipated a decrease in mortgage rates over the next 12 months.
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Real Estate News
SEPTEMBER 9, 2024
A Fannie Mae survey found that despite sour attitudes about homebuying, there’s hope that rates and prices will decline — and a geographic divide over selling.
Housing Wire
SEPTEMBER 9, 2024
Miami stands as one of the most dynamic and valuable real estate markets in the United States. While not yet reaching the trillion-dollar mark, Miami ‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to the Miami Association of Realtors. This places Miami among the top-tier real estate markets in the country, attracting both local and international buyers and driving intense competition among
Appraisal Buzz
SEPTEMBER 9, 2024
Friends, appraisers, countrymen, lend me your ears: I’m Jason Covington, Tennessee appraiser, here to share my insider impressions of Valuation Expo XXI. Full disclosure: I was excited to see how my colleagues at Appraiser eLearning would manage Val Expo in their second year as owners/operators, so I crossed the Rubicon and joined them as an honorary staffer for the week.
Housing Wire
SEPTEMBER 9, 2024
Roughly a year after launching its new agent payment plan, Redfin has announced that it is expanding Redfin Next to agents nationwide, according to an announcement on Monday. Beginning Oct. 27, all Redfin agents who enroll in the plan will earn commission splits of up to 75%. They will also have nearly all of their business expenses covered, along with receiving technology, support and benefits from Redfin.
Real Estate News
SEPTEMBER 9, 2024
The brokerage will be offering its Redfin Next commission-split plan to agents in all markets starting Oct. 27, a year after it unveiled the pilot program.
Housing Wire
SEPTEMBER 9, 2024
Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices , even in places you might not expect. This is according to an article published by the Federal Reserve Bank of Minneapolis , citing data from S&P Global showing as much as a 34% increase in homeowner’s insurance premiums nationwide over a period of seven years.
Appraisal Buzz
SEPTEMBER 9, 2024
In a comment letter to the Federal Housing Finance Agency (FHFA), the Council of Federal Home Loan Banks commended the critical role that Federal Home Loan Banks (FHLBanks) play in supporting the health of their members and the U.S. financial system. It noted that the FHLBanks are fulfilling their mission as laid out in the statute, reflecting the intent of Congress, and are providing significant benefits to their members, to consumers, and to the broader financial system.
Housing Wire
SEPTEMBER 9, 2024
Publicly traded real estate software firm reAlpha Tech Corp. added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. reAlpha agreed to pay Be My Neighbor an aggregate purchase price of up to $6 million. This consists of $1.5 million in cash paid on the closing date, $1.5 million in restricted shares of the company’s common stock (or 1.15 million shares of restricted common stock for $1.31 per share) and up to $3 million in potential earn-
Inman
SEPTEMBER 9, 2024
While most reported normal activity in the weeks after the commission rules took effect, some saw an uptick in listing clients refusing to pay buyers' fees, new Inman Intel Index results show.
Housing Wire
SEPTEMBER 9, 2024
Better Home & Finance Holding Co. , the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment, reduce their interest rate, shorten their loan term or get out of an adjustable-rate mortgage (ARM), the company explained.
Inman
SEPTEMBER 9, 2024
Find out how to lead with safety in every transaction and protect buyers, sellers, FSBOs and yourself from crime with security specialist Tracey Hawkins.
Housing Wire
SEPTEMBER 9, 2024
Last week, Guild Mortgage announced a suite of products under the name “ Flex Payment Mortgage.” The brand includes Home Equity Conversion Mortgage ( HECM ) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. After acquiring the robust reverse mortgage division of Cherry Creek Mortgage in early 2023, Guild has used its expertise in the industry to secure a place as a top 10 reverse mortgage lender.
Appraisal Buzz
SEPTEMBER 9, 2024
The Federal Housing Finance Agency (FHFA) has released an online risk analysis tool that provides geographic estimates for physical risks from various types of natural disasters, as well as nationwide data on housing and the mortgage market. The tool – known as the Mortgage Loan and Natural Disaster Dashboard – is intended to give stakeholders better insight into which areas of the country are most likely to incur greater damages from hurricanes, flooding, wildfires and other types of natural h
Housing Wire
SEPTEMBER 9, 2024
Presale renovation firm Revive has made its artificial intelligence -powered property valuation tool available to everyone, according to an announcement on Thursday. Previously, the Revive Vision AI platform was only available to registered real estate agents. “Making Revive Vision AI available to anyone marks a new era in property valuation, where agents and consumers alike can access real-time, data-driven insights to make informed decisions to maximize the value of a home,” Dalip Jaggi,
Appraisal Buzz
SEPTEMBER 9, 2024
The Fannie Mae Home Purchase Sentiment Index increased 0.6 points in August to 72.1, as consumers reported significantly greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment. In August, a survey-high 39% of consumers said they expect mortgage rates to decline in the next 12 months, up from 29% the month prior.
Housing Wire
SEPTEMBER 9, 2024
Homeowners insurance costs are higher now than they have typically been , which has the potential to hit those living on a fixed income particularly hard. This could be one reason why a local NBC -TV affiliate in New Orleans is reporting that more of the community’s seniors are turning to reverse mortgage products as they seek financial relief. Alison Calamia, a reverse mortgage specialist with America’s Mortgage Resource — which is licensed in the states of Louisiana and Mississippi — told KPLC
Inman
SEPTEMBER 9, 2024
Are we working to live or living to work? Rachael Hite says you have to safeguard your mind, body and spirit to build a professional legacy that lasts.
Housing Wire
SEPTEMBER 9, 2024
The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra , urging the agency to balance the time frame and processes of loss mitigation in its revisions to Regulation X proposed in July. The proposals require mortgage servicers to emphasize borrower assistance and loss-mitigation options over foreclosure when homeowner struggles to make their required mortgage payments.
Inman
SEPTEMBER 9, 2024
Ranchers turned real estate advisors offer unmatched expertise in land and ranch sales, expertly navigating complex transactions with deep knowledge of regulations, natural resources and property nuances.
Housing Wire
SEPTEMBER 9, 2024
The Top Agent Network (TAN) pocket listing antitrust lawsuit is on track to have its day in court — and that day will be Nov. 3, 2025. U.S. District Court Judge Vince Chhabria in San Francisco set the November 2025 trial date on Friday during a case management hearing. Originally filed in 2020 by TAN, the suit takes aim at the National Association of Realtors ’ (NAR) ban on pocket listings via its Clear Cooperation Policy.
Inman
SEPTEMBER 9, 2024
The power buyer CEO also weighs in on whether traditional iBuyers will ever see their Goldilocks moment and turn a regular profit.
Eyes on Housing
SEPTEMBER 9, 2024
Although rent control policies do, in fact, produce lower rents in the controlled units as intended, these policies also have a number of unintended and undesirable consequences, according to a recently published review of the academic literature. Among the unintended consequences are a reduced supply of housing, higher rents in uncontrolled units, reduced quality in.
Inman
SEPTEMBER 9, 2024
Worrying won't keep you safe, security expert Robert Siciliano writes. However, clear-eyed assessment of potential risk factors and common-sense precautions just might.
Eyes on Housing
SEPTEMBER 9, 2024
NAHB’s featured topic for the second quarter HBGI reveals that 17.5% of single-family and 8.6% of multifamily construction takes place in second home areas. Recent NAHB analysis found that the total count of second homes across the US was 6.5 million, which accounts for 4.6% of the total housing stock. For this analysis, a second.
Inman
SEPTEMBER 9, 2024
Seattle-based brokerage Redfin is taking its commission-based payment model, Redfin Next, nationwide on Oct. 27. Redfin Next enables agents to keep their W-2 status and benefits while earning competitive commission splits.
BiggerPockets
SEPTEMBER 9, 2024
There's no "fast track" to financial freedom, but with careful steps and a goal, it's certainly possible to do it in five years.
Inman
SEPTEMBER 9, 2024
The NBA superstar’s Highland Park estate at 2700 Point Drive was first listed for $29 million in 2012. By 2014, the price had dropped to $16 million, and it is now on the market for $14.8 million.
BiggerPockets
SEPTEMBER 9, 2024
Redfin once published data that showed for every 1% increase in tech workers in their sample of cities, there was an average 0.49% increase in home prices.
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