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With all the recent media attention, by now most everyone is aware of major changes afoot in real estate this month. Commentary has run the gamut from the demise of the industry to real estate services in the future will now be essentially pro bono. Pardon if my words convey a dash of sarcasm yet, after over four decades of helping buyers and sellers and running two of the largest brokerage companies in the world, I am compelled to read missives of the misinformed as they pop corks in celebratio
The U.S. Commercial Foreclosure Report , recently released by ATTOM, indicates that the number of commercial foreclosures has steadily increased over time, rising from a low of 141 in May 2020 to 647 in June 2024. This pattern shows a steady rise over the course of the time. ATTOM’s latest commercial foreclosure activity analysis also noted that Since January 2014, ATTOM has been analyzing data during a period marked by the nation’s emergence from economic uncertainty, starting with 740 commer
There is a new real estate firm in town, but one of its founders is probably familiar to many in the real estate industry. Meet Landian , a real estate startup founded by Bryan Galen, Neal Batra and Josh Sitzer — yes, the same Sitzer who filed the now infamous Sitzer/Burnett commission lawsuit. In an interview with TechCrunch , which first broke the news of Landian’s debut, Sitzer said his frustration with having to pay a 3% commission to a buyer’s agent on the sale of his Kansas City home in 20
Respondents to a personal finance survey have cited job and income woes, forgetfulness, and inflation as reasons for missing loan payments. The rising cost of essentials, the number one reason cited for nonpayment last quarter, took a back seat this time to employment-related issues, according to personal finance analysts at the Achieve Center for Consumer Insights , which conducted Achieve’s latest State of Consumer Finances survey , designed to complement the Federal Reserve Bank of New York’s
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.
The Merriam-Webster dictionary defines fraud as the “intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right,” and from identity theft to sweepstakes and investment scams, it can take countless forms at a high cost to consumers. The Federal Trade Commission (FTC) reported that American consumers lost $10 billion to fraud in 2023, a 14% increase from the prior year.
July saw a 5.5% decline in pending home sales, according to the National Association of REALTORS. Monthly transaction losses were reported for each of the four US regions. The Northeast had growth over the previous year, while the Midwest, South, and West saw decreases. A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 in July, the lowest level since the index’s inception in 2001.
July saw a 5.5% decline in pending home sales, according to the National Association of REALTORS. Monthly transaction losses were reported for each of the four US regions. The Northeast had growth over the previous year, while the Midwest, South, and West saw decreases. A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 in July, the lowest level since the index’s inception in 2001.
The proposed settlement between the National Association of REALTORS ( NAR ) and class-action litigants has prompted much discussion about a series of practice changes affecting compensation for real estate professionals. Despite bipartisan agreement that supply shortages are driving housing’s unaffordability issue, some point to commissions. As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns.
Federal Reserve Chair Jerome Powell indicated last week that a cut in the federal funds rate at the September meeting of the Federal Open Market Committee (FOMC) is on the table, which would have the effect of driving mortgage rates lower. Most observers and professionals agree that a rate cut would provide immediate benefits to the reverse mortgage industry, particularly for Home Equity Conversion Mortgages (HECMs).
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.
Retirement savers experienced their third consecutive quarter of growth in Q2 2024, with Gen X savers showing strong gains in individual retirement arrangements (IRAs), a sign of progress considering that cohort’s prior struggles with saving for life after work. This is according to a report released by Fidelity Investments , based on 401(k) and 403(b) data derived from 26,100 corporate defined contribution plans and roughly 32 million total participants as of June 30, 2024.
The Five Star Conference 2024 , set for September 24-26 at the OMNI Hotel in Dallas, is just weeks away, and the list of scheduled speakers, educational offerings, and networking opportunities continues to grow. At the Single-Family Rental Roundtable , investors, service providers, and subject-matter experts will explore how volatile factors such as inflation, escalating interest rates, and affordability concerns impact the ongoing growth and investment opportunities in the single-family rental
In this executive conversation, Laura O’Connor, President and COO of JPAR Real Estate Affiliated Network shares her insights on the role of the modern real estate professional. With over two decades of experience in business operations and strategic management, Laura has been a driving force in JPAR’s growth and innovation. She believes the onus is on agents to “show up” for clients and communities rather than merely “showing off” past successes.
The latest in the Five Star Institute Webinar Series, set for Thursday, September 5 at 1:00 p.m. Central, will focus on the topic of “ Advancing Your Digital Default Servicing Strategy.” Presented in partnership with MortgagePoint and Stavvy , a panel of experts will explain how automation and digital transformation can be leveraged to optimize servicing operations.
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.
Mortgage banking executive and industry mergers & acquisitions advisor Rick Roque has taken a new executive position at NFM Lending. Roque will lead NFM’s retail growth strategy as corporate vice president of retail, NFM’s Managing Director Greg Sher announced on LinkedIn on Friday. “Your thoughtful leadership, data-driven market perspective, and unwavering support of mortgage and housing, helps to ensure we will continue to conquer the many mountains ahead,” Sher wro
As homeownership may be out of reach for many Millennials and Gen Z adults, renting has become a longer-term reality rather than a temporary stop. This shift has led to a growing interest in making rental spaces feel more like home. Recent insights from Zillow and Thumbtack reveal that there are several low-cost, nonpermanent upgrades that renters can make to personalize their spaces, all while adding value that landlords appreciate.
After nearly 18 years ERA King Real Estate , Anna-Marie Ellison is moving to Alabama -based ARC Realty. In a post on her website ConsultWithAME on Wednesday, Ellison wrote that she is “honored” to be joining a team with the guiding principal of “Everything worth building starts with a relationship.” In her new role at ARC, Ellison will focus on strategic planning for agent and staff growth, as well as health and wellness initiatives, recruitment, and training across the Birmingham, Montgom
Roughly six months after his departure from RE/MAX , Nick Bailey is back in a leadership role, this time at management consultancy and analytics firm T3 Sixty. In an announcement on Thursday T3 Sixty said Bailey will serve as the firm’s chief real estate officer. In this role, T3 Sixty said Bailey will focus on business development, enterprise-level consulting projects and representing T3 Sixty at industry events. “Nick has proven capabilities leading brands and brokers to productive chang
Mortgage rates decreased this week, with the average rate for a 30-year fixed-rate mortgage dropping to 6.35%, down from 6.46% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 7.18%. “Mortgage rates fell again this week due to expectations of a Fed rate cut,” says Sam Khater, chief economist for Freddie Mac, in a statement.
PCE price index shows inflation continued to cool in July, but at a gentle enough pace that Fed policymakers are now seen as likely to only bring rates down by a hair in September.
The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being charged to borrowers amounted to a staggering 65% of the total appraisal fee, with one AMC extracting as much as 84% in pure profit. The Appraisal Regulation Compliance Council (ARCC) is a crucial non-profit organization that specializes in providing fact-based research and expertise on the complex web of appraisal regulations and compliance issues.
The iconic Flatiron Building in Manhattan is set to undergo a transformation from outdated office spaces to luxury residences and retail, according to new building plans revealed earlier this week.
Median square foot prices (excluding record-high improved lot values) for new single-family detached (SFD) homes started in 2023 remained largely stable, according to NAHB’s analysis of the latest Survey of Construction data. For custom, or contractor-built, homes, the median price was $162 per square foot of floor space, not significantly different from $156 in 2022.
The case dates back to a 2020 settlement between NAR and the DOJ, and to the DOJ's 2021 attempt to withdraw from that settlement — something NAR is trying to block.
The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being charged to borrowers amounted to a staggering 65% of the total appraisal fee, with one AMC extracting as much as 84% in pure profit. The Appraisal Regulation Compliance Council (ARCC) is a crucial non-profit organization that specializes in providing fact-based research and expertise on the complex web of appraisal regulations and compliance issues.
Treasury Secretary Janet Yellen said the new reporting rules will "close critical loopholes in the U.S. financial system" that had allowed criminals to launder money through all-cash residential real estate transactions.
The settlement has changed a lot, but consumers still need agents, Amy Corr writes. Stay confident, listen to potential clients, be the advisor they need, and you will thrive.
Some short-term rental markets are difficult to operate in. Others are downright saturated. But this one, according to the data, is where you need to be.
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