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Ongoing supply and affordability challenges in the housing market have frustrated many homeowners who have looked to trade up or relocate for various reasons. In response, some consumers have turned to renovation projects to meet their needs. According to survey data released this week by St. Louis-based Clever Real Estate , 63% of homeowners would rather remodel their current home than move to one that has already been fixed up.
I get this question quite a bit. Why didn’t the appraiser add the square footage of the ADU to the main house? The idea is the accessory dwelling in the backyard should be lumped into the total square footage, and since it wasn’t, maybe the appraiser undervalued the property. Let’s talk about it. I have […] The post Why didn’t the appraiser add the ADU in the square footage?
Real estate data provider CoreLogic is unveiling a new artificial intelligence -powered property and location intelligence platform. The California-based company is launching the Araya platform, according to an announcement on Tuesday. Through Araya, CoreLogic will give customers access to the data and analytics of nearly all U.S. properties on one platform.
ATTOM has issued its Q3 2024 U.S. Foreclosure Market Report , which shows a total of 87,108 U.S. properties with foreclosure filings during Q3 of 2024, down 2% from the previous quarter, and down 13% year-over-year. ATTOM’s report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2% from the previous month, and down 19% from a year ago.
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.
Successful people possess a belief system that empowers them to achieve their goals, regardless of their circumstances or situations. This doesn’t mean they don’t face failures and setbacks; rather, they refuse to let these obstacles prevent them from reaching their potential. By most standards, I’ve had a highly successful career in real estate — as a Keller Williams Mega Agent, Broker-Owner, and bestselling author.
Papanii Okai Rocket Companies has named Venmo Chief Technology Officer (CTO) and former PayPal Technology Executive Papanii Okai as its new EVP of Product Engineering. In this newly created role, Okai will work with the company’s senior technology leaders to create artificial intelligence (AI)-driven products at an even greater velocity. “We’ve all experienced technology that drives real impact in the world through Papanii’s work with Paypal and Venmo.
Papanii Okai Rocket Companies has named Venmo Chief Technology Officer (CTO) and former PayPal Technology Executive Papanii Okai as its new EVP of Product Engineering. In this newly created role, Okai will work with the company’s senior technology leaders to create artificial intelligence (AI)-driven products at an even greater velocity. “We’ve all experienced technology that drives real impact in the world through Papanii’s work with Paypal and Venmo.
The Real Brokerage ’s explosive growth continues. The company has added the Grant Johnson Group , based in the Minneapolis area, bringing 55 agents to Real and pushing the brokerage’s total agent count past 22,000. “It’s fitting that a fast-growing team, focused on building a strong culture, has helped us surpass 22,000 agents,” Real President Sharran Srivatsaa said in a statement.
In September, the average asking rent in the U.S. increased by 0.6% year-over-year to $1,634, with the largest rises occurring in numerous East Coast and Midwestern metro areas. That’s according to a recent Redfin study that revealed a 0.2% decrease in rent month-over-month. For the past two years, the median rent has remained relatively stable, ranging between $1,599 and $1,663—with 16 of the previous 24 months falling within a narrow window between $1,630 and $1,650.
I started doing weekly interviews with tech executives over a year ago to find out where technology was making a real difference in housing and to keep a pulse on trends — especially artificial intelligence (AI). Open AI launched the first version of ChatGPT on Nov. 30, 2022. Mortgage and real estate firms began developing use cases in 2023. But what has happened in the past year — and especially in the last six months — is incredible.
The trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.
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.
What do you get when you combine home renovation specialists with a lender that can provide funds in short order? The new partnership between HouseAmp and Renovation Sells. The technology companies will tether their respective services with the goal of streamlining the process of getting a home ready for sale. The Renovation Sells platform focuses on design and construction, while the loans come from HouseAmp.
Social Security benefits and Supplemental Security Income (SSI) payments will rise by 2.5% in 2025, the lowest such increase since 2021. This reflects cooling levels of inflation after a period of historic increases, which pushed the cost-of-living adjustment (COLA) to its own heights during and after the COVID-19 pandemic. The benefits, which apply to more than 72 million Americans, will translate into a roughly $50 increase on a monthly basis, according to the Social Security Administration (S
The U.S. Department of Housing & Urban Development (HUD) has announced $3 million for the state of North Carolina to support people experiencing homelessness in communities impacted by Hurricane Helene. Funding from the Rapid Unsheltered Survivor Housing (RUSH) program will help residents and families who are experiencing or at-risk of homelessness and have needs that are not otherwise served or fully met by existing federal disaster relief programs.
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.
Federal Housing Administration (FHA) Commissioner Julia Gordon and David Berenbaum, deputy assistant secretary for the Office of Housing Counseling at the U.S. Department of Housing and Urban Development (HUD), described a need for more reverse mortgage comprehension during an interview at this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego.
A total of 87,108 U.S. properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions — during the third quarter, a decrease of 2% compared with the second quarter and down 13% from a year ago, according to ATTOM’s Q3 2024 U.S. Foreclosure Market Report. A total of 62,380 U.S. properties started the foreclosure process in the third quarter, down less than 1% from the previous quarter and down 10% from a year ago.
Agents and LOs are grappling with heavily damaged housing markets in the Southeast. Housing markets in the Southeast are reeling from a one-two punch of devastating hurricanes that are believed to have caused at least $100 billion in damage. The housing markets in Tampa, Florida, and Asheville, North Carolina, have effectively frozen as federal and state relief efforts get underway, but a full recovery will take years.
Mortgage rates jumped this week, as the average rate for a 30-year fixed-rate mortgage rose to 6.32%, up from 6.12% last week, according to Freddie Mac’s Primary Mortgage Market Survey. “Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Compass has a new head of investor relations. On Wednesday, the brokerage firm announced that it has appointed Soham Bohnsle to lead its investor relations division. Bohnsle has more than a decade of experience covering the housing sector, most recently as a senior analyst at BTIG. He also held roles at Morgan Stanley and Susquehanna International Group , where he began his career in housing as a research assistant. “We sought someone who could deliver an immediate impact, and Soham’
VWH Capital Management , a minority and women-owned business, is the winning bidder on a pool of non-performing mortgage loans recently auctioned by Fannie Mae. This was Fannie Mae’s 25th non-performing loan sale transaction. The deal, announced on September 10, included the sale of 1,675 deeply delinquent loans totaling $280.0 million in unpaid principal balance (UPB), offered in one pool.
Struggling fintech LoanSnap had its mortgage lender license in Connecticut revoked in early October by state authorities, adding to the company’s legal and financial problems. The firm was first licensed to do mortgage business in Connecticut in January 2021 and applied for a renewal in December 2023. The request was pending, but in July, the company had its mortgage lender license in the state automatically suspended.
The American Real Estate Association is looking for those 'fined or otherwise harmed' by the National Association of Realtors' pocket listing rule and are interested in "collective action.
Similar to past experiences, Hurricane Helene may lead to 5% of mortgage borrowers in affected areas becoming delinquent but eventually self-curing over the next 12 months, according to a Bank of America (BofA) analysis. The hurricane, which made landfall in Florida in late September, also impacted parts of North Carolina, South Carolina, Virginia and Georgia.
While no agent is perfect, we should all continually strive for excellence, no matter where we are in our journey as an agent from brand new to very experienced, broker Cara Ameer writes.
While the homebuyer commission lawsuits continue to be a thorn in the side of the real estate industry, three corporate brokerages have at least for now recorded a small win. On Wednesday, Chicago-based U.S. District Court Judge LaShonda Hunt, who is overseeing both Batton suits after Judge Andrea Wood recused herself in early September, granted RE/MAX , Keller Williams and Anywhere’s joint motion to stay the case during a status hearing.
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year.
Prominent housing finance attorney Gina Hough and her associate Trevor Cardo have joined Ballard Spahr ‘s housing finance practice, the firm announced this week. Hogh, a former vice president and deputy general counsel at Fannie Mae , will join as senior associate, said housing finance practice chair Peter Michaud. She’ll work out of the Washington, D.C. office while Cardo will be based out of New York.
Baffled by a home that's languishing on the market? Mega-team leader Carl Medford offers a step-by-step plan for evaluating your listing and getting it sold.
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2024 posted a reading of 63, down two points compared to the previous quarter. Remodelers remain optimistic about the market even though the overall RMI edged down for the third consecutive quarter. Some have potential customers citing the upcoming election as a reason.
Most real estate professionals say little has changed since new commission rules went into effect in August. But for a smaller group, the changes have unleashed a completely different experience.
Inflation continued to ease in September and remained at a 3-year low as shelter costs continued to moderate. Shelter costs, the main driver of inflation since early 2023, saw their annual growth rate fall below 5% for the first time since February 2022. With the Fed beginning its easing cycle with a half-point cut last.
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