Housing Wire
AUGUST 23, 2024
The new home sales report had such a big beat today that many people had to double-check the numbers — and I get it. The estimates were for 623,000 but the sales came in at 739,000. This isn’t my first rodeo with new home sales data and I believe these numbers will be revised lower, but a beat is a beat. There are other sources we can check to get clues on this report ahead of time.
Appraisal Buzz
AUGUST 23, 2024
The Five Star Academy-Powered by the FORCE , will present its latest webinar, “ Commercial Short Sale ,” set for Wednesday, August 28 from 1:00 p.m.-2:30 p.m. Central. Open to FORCE members and non-members, the Five Star Academy is more than an educational hub, but a repository of FORCE resources. It’s a platform that offers comprehensive education crafted and presented by top real estate professionals to help hone your skills and uncover new markets.
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Housing Wire
AUGUST 23, 2024
Federal Reserve Chair Jerome Powell said on Friday that “the time has come for policy to adjust,” signaling a cut in the federal funds rate at the September meeting of the Federal Open Market Committee (FOMC) as expected by monetary policy watchers. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” Powell said during a speech at the Kansas City Fed’s annual conference in Jackson Hole, Wyoming.
Appraisal Buzz
AUGUST 23, 2024
In Tampa, FL, the median monthly homeowners association (HOA) fee jumped 17.2% year over year during the three months ending July 31, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the steepest increase among the 43 U.S. metropolitan areas Redfin analyzed, and compares with a median increase of 5.7% across those metros.
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Housing Wire
AUGUST 23, 2024
The Federal Housing Finance Agency (FHFA) this week published a final rule in the Federal Register that outlines housing goals for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and seeks to establish yearly standards to meet the goals. The proposed goals for 2025 through 2027 are designed to ensure that the GSEs purchase mortgages that “responsibly promote equitable access to affordable housing that reaches low- and moderate-income families, minority communities, and oth
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
AUGUST 23, 2024
Aging in place is seen as a leading “social barrier“ to healthy aging in America in 2024, according to a new survey conducted by Alignment Health. The survey was first reported by McKnights Senior Living. “As more seniors choose to live independently and longer in their own homes, aging in place brings its own set of challenges: nearly seven out of 10 consider aging in place a top social barrier to their health and well-being,” the organization said of its survey findings.
Appraisal Buzz
AUGUST 23, 2024
In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association’s (MBA) annual report of the multifamily lending market. Last year’s $246.2 billion in multifamily lending volume represents a 49 percent decrease from 2022 levels.
Housing Wire
AUGUST 23, 2024
Jaro is the only end-to-end appraisal platform on the market that is painstakingly designed for lender and AMC workflows to serve every party in the valuation process. Whether managing an appraisal desk or working as an independent appraiser, Jaro’s comprehensive suite of products, including JaroDesk and JaroInspect, offers pioneering solutions that enhance the customer and user experience.
Real Estate News
AUGUST 23, 2024
Watch the conversation with analyst John Campbell on the winners — and “not winners” — among public real estate firms, plus a bold guess about agent attrition.
Speaker: Dylan Secrest
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Housing Wire
AUGUST 23, 2024
The Department of Justice (DOJ) continues to take aim at alleged antitrust violations in the real estate industry. The DOJ filed a civil suit against RealPage on Friday, claiming that the company’s YieldStar and AI revenue management (AIRM) software allowed multifamily landlords to artificially inflate rents through the sharing of private information.
Real Estate News
AUGUST 23, 2024
The federal agency claims that the rental software company’s product is keeping rents high and stifling competition.
Housing Wire
AUGUST 23, 2024
In the newest episode of the RealTrending podcast , host Tracey Velt chats with Ryan Michaelis, chief growth strategist at Worth Clark Realty , about business growth through recruitment, flat-fee models for agents and the effects of the National Association of Realtors ’ (NAR) settlement on buyers and sellers across the industry. Michaelis started his career at Worth Clark with a leadership approach focused on supporting agents through their professional journey via growth opportunities.
Real Estate News
AUGUST 23, 2024
New home sales jumped 10.6% in July as builders took advantage of lower mortgage rates and used incentives to close deals.
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Housing Wire
AUGUST 23, 2024
The latest data reflected in the Agent Movement Index (AMI) for July 2024 indicates a notable shift in the real estate agent landscape, highlighting a cooling trend in agent movement and an emerging caution in the market. Key observations from July 2024 AMI: Halting of agent growth: The recent trend of increasing active agents , which we’ve observed over several months, appears to have stopped.
Real Estate News
AUGUST 23, 2024
Two new surveys provide a snapshot of what agents are seeing in the market, and while they’re slightly less optimistic, they remain “net positive.
Housing Wire
AUGUST 23, 2024
RE/MAX and Inside Real Estate are expanding their partnership. The firms announced the expansion on Tuesday at the RE/MAX Broker Owner Conference. The expanded partnership will bring the BoldTrail platform to all RE/MAX-owned brokerages across the U.S. and Canada. The strategic partnership between Inside Real Estate and RE/MAX began in 2022 through the initial launch of MAX/Tech powered by kvCORE for agents and teams.
Appraisal Buzz
AUGUST 23, 2024
This piece originally appeared in the August 2024 edition of MortgagePoint magazine, online now. Across the country, numerous states have passed uniform community housing statutes that create liens for homeowner’s associations against units in their communities for unpaid assessments. These liens are typically automatically enforceable upon failure to pay an assessment.
Housing Wire
AUGUST 23, 2024
Three days before the new business practice changes mandated by the settlement of the National Association of Realtors ‘ commission lawsuit went into effect, HousingWire caught up with top real estate coach Skye Michiels to talk about how his agents are handling the big changes. Michiels , the former head of coaching at Compass who now runs his own real estate agent coaching firm, With Heart Coaching , said the first six months are going to determine how agents adjust to the many variables
Appraisal Buzz
AUGUST 23, 2024
Atlas Real Estate CEO Tony Julianelle This piece originally appeared in the August 2024 edition of MortgagePoint magazine, online now. Tony Julianelle, CEO of Atlas Real Estate has more than 25 years of executive leadership experience in the finance and real estate industry. Real Atlas Estate is a full-service real estate company specializing in property management, institutional acquisitions, and buy/sell brokerage.
Housing Wire
AUGUST 23, 2024
Montana ’s unique Reverse Annuity Mortgage (RAM) program is a state-sponsored reverse mortgage, with lower interest rates and proceeds along with a higher minimum qualifying age that distinguishes it from the Home Equity Conversion Mortgage (HECM) program through the Federal Housing Administration (FHA). Cheryl Cohen, division administrator for the housing division at the Montana Department of Commerce and executive director of the Montana Board of Housing , recently sat down with HousingWire ’s
Inman
AUGUST 23, 2024
"Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law," Attorney General Merrick Garland said on Friday.
Appraisal Buzz
AUGUST 23, 2024
Calque and The Trade-In Mortgage have announced 20 new lenders in 2024. The latest is Sparrow Mortgage , a mortgage broker operating in Florida, Georgia, Massachusetts, North Carolina, and South Carolina. The Trade-In Mortgage is a lending product that allows borrowers to use home equity to purchase a new property before selling their current one. This program allows borrowers to leverage their home equity for a substantial down payment, making it easier to qualify for a new home.
Inman
AUGUST 23, 2024
The program features top agents and brokerage founders and will be available to both Side users and the broader real estate industry.
Appraisal Buzz
AUGUST 23, 2024
New home sales in July were at a seasonally adjusted annual rate of 739,000, an increase of 10.6% compared with June and up 5.6% compared with July 2023, according to estimates from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. The median sales price for a new home sold in July was $429,800. The average sales price was $514,800.
Inman
AUGUST 23, 2024
Zillow is continuing its leadership shuffle, with the Seattle-based residential portal announcing a new senior vice president of agent sales on Friday. Former PayPal executive Soumya Tulloss will lead Zillow's agent sales, the segment that includes flagship products Zillow Showcase and Zillow Premier Agent.
Eyes on Housing
AUGUST 23, 2024
Sales of new homes rose unexpectedly in July, following significant revisions in the previous months data. Sales of newly built, single-family homes in July rose 10.6% to a 739,000 seasonally adjusted annual rate from significant upward revisions in June, according to newly released data from the U.S. Department of Housing and Urban Development and the.
Inman
AUGUST 23, 2024
Active homebuyers are motivated by numerous factors — including a desire to find a larger or nicer home in this high-rate environment — according to the latest Inman-Dig Insights consumer survey.
Eyes on Housing
AUGUST 23, 2024
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the second quarter of 2024, there were just 3,000 2- to 4-unit housing unit construction starts.
Inman
AUGUST 23, 2024
Picture this: It's January 2025. A new president has just taken office, and the real estate industry is buzzing with potential. A new chapter begins.
Appraiserblogs
AUGUST 23, 2024
County Assessors have the advantage of being able to calibrate their models specifically for one market, allowing for a more tailored and precise approach. The OCC, FDIC, NCUA, CFPB, and FHFA (collectively, the Agencies) are adopting a final rule to implement AVM quality control standards mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
Inman
AUGUST 23, 2024
Blockchains founder Jeffrey Berns is the seller. The home is one of the priciest to sell on Lake Tahoe and features 150 feet of lake frontage as well as a boat lift and shared deep water pier.
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