Housing Wire

OCTOBER 10, 2024

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.

Renovations 451

Renovations Advertising Housing Market Lending 451

Appraisal Buzz

OCTOBER 10, 2024

In its September 2024 Market Advantage mortgage statistics report, Optimal Blue revealed that rate-and-term refinancing activity increased by 50% month-over-month (MoM) as recent homebuyers seized the chance to reduce their interest rates and mortgage payments. Even though the Federal Open Market Committee (FOMC) reduced its target federal funds rate by 50 basis points on September 18, the market had already factored in some of the rate drop, which resulted in a month-long surge in refinancing a

Mortgage 395

Mortgage Marketing Appraisal 395

Housing Wire

OCTOBER 10, 2024

If there was any doubt that the Federal Reserve’s half-point interest rate cut was the right move, those doubts are fading, and there’s reason to support another cut in the coming months. That’s because the U.S. Bureau of Labor Statistics’s Consumer Price Index (CPI) for September fell by 0.1 percentage points compared to August and sits at a measured 2.4% year-over-year.

Mortgage 441

Mortgage Marketing Sellers Housing Market 441

Sacramento Appraisal Blog

OCTOBER 10, 2024

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?

Appraisal 345

Appraisal Marketing 345

Housing Wire

OCTOBER 10, 2024

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.

Real Estate 438

Real Estate Tools Loan Officers Legal 438

Real Estate News

OCTOBER 10, 2024

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.

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Appraisal Buzz

OCTOBER 10, 2024

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.

Marketing 243

Marketing Appraisal 243

Housing Wire

OCTOBER 10, 2024

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.

Real Estate 427

Real Estate Mortgage Technology Development 427

Appraisal Buzz

OCTOBER 10, 2024

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.

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Technology Tools Clients Development 221

Housing Wire

OCTOBER 10, 2024

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.

Renovations 417

Renovations Design Sellers Finance 417

Appraisal Buzz

OCTOBER 10, 2024

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.

Mortgage 221

Mortgage Construction Appraisal 221

Housing Wire

OCTOBER 10, 2024

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

Insurance 417

Insurance Marketing Finance 417

Appraisal Buzz

OCTOBER 10, 2024

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.

Insurance 221

Insurance Development Construction Investing 221

Housing Wire

OCTOBER 10, 2024

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’

Investors 417

Investors Brokerage Real Estate Housing Market 417

Appraisal Buzz

OCTOBER 10, 2024

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.

Appraisal 195

Appraisal Marketing 195

Housing Wire

OCTOBER 10, 2024

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.

Mortgage 410

Mortgage Training Design Development 410

Appraisal Buzz

OCTOBER 10, 2024

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.

Housing Market 195

Housing Market Mortgage Appraisal Marketing 195

Housing Wire

OCTOBER 10, 2024

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.

Mortgage 403

Mortgage Landlords Loan Officers Legal 403

Appraisal Buzz

OCTOBER 10, 2024

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.

Mortgage 195

Mortgage Business Appraisal Marketing 195

Housing Wire

OCTOBER 10, 2024

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.

Insurance 365

Insurance Inventory Property Taxes New Listings 365

Real Estate News

OCTOBER 10, 2024

Buyers are left wondering if they should wait for rates to fall again, as some economists expect, or act now “and worry about rates secondly.

Buyers 191

Buyers 191

Housing Wire

OCTOBER 10, 2024

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.

Brokerage 329

Brokerage Real Estate Realtors Sellers 329

Inman

OCTOBER 10, 2024

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.

Agents 187

Agents Realtors Real Estate 187

Housing Wire

OCTOBER 10, 2024

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.

Law 318

Law Finance Real Estate Clients 318

Inman

OCTOBER 10, 2024

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.

Agents 180

Agents 180

Eyes on Housing

OCTOBER 10, 2024

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.

Marketing 151

Marketing 151

Inman

OCTOBER 10, 2024

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.

Mortgage 177

Mortgage Marketing 177

Eyes on Housing

OCTOBER 10, 2024

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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Inman

OCTOBER 10, 2024

Inman seeks fresh perspectives and new ideas from people like you for the Inman Connect stage when the conference returns to New York City in January. Fill out a short form to apply.

Agents 172

Agents 172

Empire Appraisal Group

OCTOBER 10, 2024

ResiClub analyzed September inventory data just released from Realtor.com. Lance Lambert Source: [link] When assessing home price momentum, ResiClub believes it’s important to monitor active listings and months of supply. If active listings start to rapidly increase as homes remain on the market for longer periods, it may indicate potential future pricing weakness.

Inventory 78

Inventory New Listings Housing Market HOA 78

Inman

OCTOBER 10, 2024

Bright MLS CEO Brian Donnellan takes issue with assertions made by Compass CEO Robert Reffkin in his Oct. 8 op-ed for Inman on the role of MLSs in promoting Clear Cooperation.

Brokerage 167

Brokerage Agents 167

Lamacchia Realty

OCTOBER 10, 2024

Heidi Matusik Awarded Quarterly Production Achievement from the Mid-State Association of REALTORS® We are thrilled to announce that Heidi Matusik has been awarded with the Quarterly Production Achievement from the Mid-State Association of REALTORS®! This is her second year in a row receiving this recognition, all due to the hard work and dedication Heidi puts into her business and clients every day.

Realtors 62

Realtors Human Resources Project Management Realty 62

Inman

OCTOBER 10, 2024

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.

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Realtors Real Estate Clients Buyers 167

BiggerPockets

OCTOBER 10, 2024

We talk a lot about the overall housing market, but what about the best states to invest in real estate?

Investing 81

Investing Real Estate Housing Market Marketing 81