Housing Wire
JULY 19, 2024
They say everything is bigger in Texas — and apparently that includes housing inventory growth. While available homes for sale are growing all over the country , it’s happening at a dramatic scale in Texas. According to a second-quarter 2024 report from Texas Realtors, the number of active listings from April to June of this year were up 40.8% compared to the same period last year.
Appraisal Buzz
JULY 19, 2024
Great news for buyers: the latest Consumer Price Index report showed that inflation is cooling—which is good—but that news came alongside a report from Redfin that monthly housing payments have also eased back from record highs hit a few months ago, making it that much sweeter for buyers. According to Redfin, the typical monthly housing payment was $2,722 mid-July, $115 lower than the all-time high which occurred in April.
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Housing Wire
JULY 19, 2024
“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” This is the conclusion of a new report published by the Center for Public Enterprise , a nonprofit organization that promotes the expansion of public sector projects.
Appraisal Buzz
JULY 19, 2024
According to data from the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) for June 2024, the number of mortgage applications for the purchase of new homes increased by 0.7% from the previous year. The number of applications fell by 16% from May 2024. This change does not include any adjustment for typical seasonal patterns “Applications for new home purchases slowed in June, consistent with broader declines in single-family construction and new building permits as well as
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Housing Wire
JULY 19, 2024
Artificial intelligence has taken the real estate industry by storm over the past two years and Coldwell Banker is no exception. On Thursday, the Anywhere Real Estate brand announced that it had equipped its exclusive marketing platform tool Listing Concierge with generative AI capabilities. Through this update, the firm says the platform will now allow agents and concierge coordinators to automate the generation of listing descriptions, captions of images and property attributes.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JULY 19, 2024
In a recent segment of CNBC’s “Worldwide Exchange,“ HousingWire lead analyst Logan Mohtashami and anchor Frank Holland dive into last week’s spike in mortgage applications as well as housing permit levels. According to recent data from the Mortgage Bankers Association , mortgage applications for new homes increased by 0.7% year over year in June 2024.
Real Estate News
JULY 19, 2024
The industry has weathered many storms, and through it all, has grown and thrived. So can agents. Jay Thompson shares 4 ways to leverage the changes ahead.
Housing Wire
JULY 19, 2024
Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation.
Real Estate News
JULY 19, 2024
A recent analysis found that agents in several Midwestern cities earn higher salaries and face less competition compared to their peers in other regions.
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Housing Wire
JULY 19, 2024
Howard Hanna Real Estate Services is looking to “streamline the home-buying process.” On Thursday, the family-owned real estate firm announced that it was launching its “Buy & Borrow Bundle” program, which it said offers “comprehensive support and financial incentives that cater to the unique needs of everyone in search of home.” “We are thrilled to introduce the Buy & Borrow Bundle, which reflects our ongoing dedication to providing superior value and convenience to our clients,” F.
Real Estate News
JULY 19, 2024
Buyers who sign agreements with the nation’s largest family-owned brokerage — and use its mortgage services — will get a 0.5% credit when their loan closes.
Housing Wire
JULY 19, 2024
eXp Realty announced Friday that it has named Troy Palmquist as its new vice president of growth and product marketing. According to the announcement, Palmquist will be responsible for developing and executing comprehensive marketing strategies aimed at attracting, recruiting and retaining top-tier real estate agents. He will also oversee the promotion of various eXp divisions, including commercial and land and ranch, along with leading a team of product marketers, who will be tasked with ensur
Real Estate News
JULY 19, 2024
Four MLSs go Coast 2 Coast in Florida; North Carolina MLS expands into Georgia, each serving about 20,000 members.
Housing Wire
JULY 19, 2024
Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” The new term sheet details several differences from the current HMBS program, including a reduction in the HMBS pool size to 95% of the loan’s total unpaid principal balance (UPB).
Appraisal Buzz
JULY 19, 2024
Although homebuyers have gained back purchasing power since April, most continue to sit on the sidelines in the hope that the Fed will cut rates and mortgage rates will fall later this year. But according to Chen Zhao, economic research lead for Redfin, these prospective home buyers may be waiting in vain. “Now that it’s looking increasingly likely the Fed will cut interest rates by the end of the year, some house hunters believe mortgage rates will fall more and are waiting for that to happen b
Housing Wire
JULY 19, 2024
In a competitive market full of options, banks must rely on more than their rate sheet to compete for the business of third-party originators. Established brokers and non-delegated correspondents alike continue to choose Flagstar as a preferred partner because of its reputation for not only being a reliable lender for over 35 years but also for having an extremely knowledgeable team. “We have built enduring trust with a network of over 3,5000 established brokers and non – delegated corresp
Appraisal Buzz
JULY 19, 2024
Single-family home prices increased a seasonally adjusted 1.3% during the second quarter, down from a revised 2.0% in the first quarter, according to Fannie Mae’s Home Price Index , which excludes condos. Compared with the second quarter of 2023, home prices increased 6.9%, down from the previous quarter’s upwardly revised annual growth rate of 7.3%, On a non-seasonally adjusted basis, home prices increased by 3.0% in the second quarter.
Housing Wire
JULY 19, 2024
Expanding your real estate career into a new market presents significant challenges, especially when navigating unfamiliar language barriers and a new community culture. Leading Zink through our expansion into the United States has provided insight into effectively navigating unfamiliar networks and establishing a presence. When we decided to enter the Florida real estate market , we were driven by its immense growth potential and the chance to diversify our portfolio.
Inman
JULY 19, 2024
The FCC announced on Tuesday a plan to help consumers identify and block AI-generated robocalls. The plan, if passed, could impact a key part of real estate agents' lead generation methods.
Housing Wire
JULY 19, 2024
The Federal Housing Administration (FHA) on Friday announced that its FHA Connection (FHAC) portal — which provides FHA-approved lenders and business partners with secure online access to computer systems at the U.S. Department of Housing and Urban Development (HUD) — has experienced outages in certain core services, coinciding with a widely reported global technology outage stemming from issues at major U.S. tech providers.
Inman
JULY 19, 2024
Aspen Valley Ranch, previously owned by Tellurian co-founder Charif Souki, has been sold in pieces after hitting the market for $220 million, "The Wall Street Journal" reported on Thursday.
Housing Wire
JULY 19, 2024
St. Louis has one of the lowest levels of single-family rents among major U.S. cities, but it might not stay that way for long. A report released this week by CoreLogic showed that the city had the highest year-over-year single-family rent growth in May among the 20 major markets analyzed. With a 6.2% annualized increase, the growth marks the second month in a row that St.
Inman
JULY 19, 2024
Payment processing technology developed by REPAY is now available to loan servicers through ICE Mortgage Technology's Servicing Digital solution, a customer engagement and retention tool.
Housing Wire
JULY 19, 2024
Julia Gordon , the commissioner of the Federal Housing Administration (FHA) and a leading voice at the U.S. Department of Housing and Urban Development (HUD), will be returning for the third consecutive year to the National Reverse Mortgage Lenders Association ‘s (NRMLA) Annual Meeting and Expo that will take place in San Diego in September. Julia Gordon The announcement was made by NRMLA in an email alert to its membership.
Inman
JULY 19, 2024
Two weeks after filing a theft of trade secrets lawsuit against CoStar Group, Move now wants CoStar to hand over Move-owned files and electronic devices used by former Realtor.com News and Insights Editor James Kaminsky.
Eyes on Housing
JULY 19, 2024
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2024 posted a reading of 65, down one point compared to the previous quarter. The RMI remains solidly in positive territory, and NAHB continues to project that remodeling activity has stabilized at a healthy level in 2024. Although some remodelers are reporting a.
Inman
JULY 19, 2024
Yvonne Mortimer has rejoined Baird & Warner after a two-year stretch at Berkshire Hathaway HomeServices Chicago, the company announced Wednesday.
Appraiserblogs
JULY 19, 2024
this is a colossal failure on their part – to have a key document on BACKORDER until a month from now, or longer! Appraisers, I have a print copy of the current USPAP, but need/want a PRINT copy of the AO/FAQ Reference Manual, which TAF decided to make into a separate document for this version at a cost of $75. I prefer the printed versions, rather than the PDF so I can read it and use a highlighter for key items.
Inman
JULY 19, 2024
These times have been hard on nearly every real estate business. But different parts of the country report unique challenges and business approaches, as illustrated by Intel’s monthly gauge of industry sentiment.
BiggerPockets
JULY 19, 2024
Will we be able to hit "print" and generate housing one day? It could be sooner than you think.
Inman
JULY 19, 2024
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
National Association of Realtors
JULY 19, 2024
With practice changes coming that include the prohibition of offers of compensation on MLSs, it’s imperative that brokers, agents and appraisers keep an open line of communication.
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