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Many renters think they’re saving money by renting, but long term, that might not be true. In some of the U.S.’s largest metros, a monthly mortgage payment is less expensive than the average rent. But there are many factors surrounding affordability—how do city dwellers make this decision? A new report from Zillow Home Loans outlines some key trends and factors for renters to consider when evaluating a home purchase.
The U.S. housing market is showing signs of relief for buyers, as home prices drop in more than half of the largest metropolitan areas. According to the Realtor.com® September Housing Market Report , prices in some regions have declined by over 12%, marking a shift from the record highs of 2023. “The median price of homes for sale this September dropped by 1% year-over-year, settling at $425,000,” reports Realtor.com economist Joel Berner.
In this HousingWire Executive Conversation, Tom Davis, Chief Sales Officer at Deephaven , discusses the opportunities in the non-QM investor loan space as we head into the new year. He emphasizes the importance of a diverse product portfolio including DSCR and business-purpose loans, to better serve clients. Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training.
According to Q3 2024 U.S. Home Equity & Underwater Report released by ATTOM , some 48.3% of mortgaged residential properties in the US were deemed equity-rich in Q3, which means that the total estimated amount of loan balances secured by those properties was no more than half of their estimated market values. From a recent peak of 49.2% in Q2 of 2024, that level was lower.
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.
Mortgage technology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. The platform evaluates the loan purchase eligibility and data quality while also handling document management to help lenders operate effectively and efficiently, said Linus Petrén, Novaprime’s CEO.
Americana has long held a fascination for Old West ghost towns, symbols of a bygone day. Now Joybird has redefined that term for the modern age. In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. What Defines a Ghost Town? To create their list of America’s modern-day ghost towns, Joybird analyzed data from the U.S.
Americana has long held a fascination for Old West ghost towns, symbols of a bygone day. Now Joybird has redefined that term for the modern age. In their new study , “ghost towns” are modern metro areas on the edge of decline due to decreasing population and increasing home and retail vacancies. What Defines a Ghost Town? To create their list of America’s modern-day ghost towns, Joybird analyzed data from the U.S.
Zillow and Realtor.com have agreed to share 3D home tours, interactive floor plans and photo listings between both platforms, the real estate portals announced this week. The new partnership will let real estate agents share immersive listings with potential clients on both platforms, boosting visibility and simplifying the home search process for buyers.
FormFree has made several enhancements to its customer acquisition marketplace, including a new auto-matching capability that connects borrowers and lenders in seconds. FFX is the world’s first marketplace that obsesses about consumers and helps lenders and borrowers find the right match, the firm says in a release. By delivering a 1-to-1 connection and ensuring that consumers have complete control of their data, FFX is compliant with both TCPA and Rule 1033.
In prior conversations with HousingWire ’s Reverse Mortgage Daily (RMD), leaders of equity sharing companies contend that their products are different from reverse mortgages largely because they are not debt-based instruments. But a court case playing out in the U.S. Court of Appeals for the Ninth Circuit features plaintiffs who argue that they are — at least under Washington state law.
Escalating home values have driven up property taxes, leading to homeowner distress, making it more important than ever to help them understand and plan for these increases. Meanwhile, as interest rates start to come back down and refis rise, opportunities for recapturing borrowers will emerge for servicers who invest in tools and technology to improve their customers’ experience.
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.
Editor’s note: This is the second in a series of articles that will explore the effects of the landmark Sitzer/Burnett case, which was decided on Oct. 31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. As the real estate industry grappled with the fallout of the Sitzer/Burnett jury verdict and eventual settlement from the National Association of Realtors (NAR), a top concern was how changes to the agent commission structure would imp
NotaryCam , which offers remote online notarization technology for real estate and legal transactions, has launched its “Done For You” e-closing program, which provides lenders with a fast path to e-closings while requiring minimal effort, effectively addressing common hurdles that have traditionally impeded e-closing implementation. “Where I’ve had the most success from the lender’s seat is finding a title/settlement partner that could provide me with the e-close solution and process,” says Bri
In the latest episode of the Power House podcast, HousingWire CEO Clayton Collins sits down for a conversation with Uplist President Jeff Bell to explore coaching, loan monitoring, recapture strategies and more. These questions and responses have been lightly edited for length and clarity. Clayton Collins: Give us a glimpse into how you’ve developed as a leader in this industry.
What motivates someone to rent a home? There aren’t many features and facilities that a tenant would forgo, from roomy homes and large backyards to lots of storage and excellent parking alternatives. Renters are increasingly choosing rental homes as their first choice because more of them are prepared and able to pay more to have the space and comfort they desire.
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.
Minneapolis -based mortgage lender Luminate Home Loans has decided to shutter its NEO Home Loans division, which transitioned to the firm two years ago, the company announced on Friday. The expectation is that NEO will close by the end of February 2025. According to Luminate, the decision reflects, among other things, its “focus on integrating mortgage lending into its core banking services to better serve clients and build long-term financial relationships.
Situated on nearly three acres, the property features 11 bedrooms, 14 bathrooms, a wine cellar, staff rooms—both added during the Elies’ renovation — and a swimming pool. Despite these extensive upgrades, the Elies ultimately found the home too large and chose not to move in.
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. With hundreds of other IDX websites online, why would a buyer choose yours? And no, “Because they clicked on my ad!” is not an acceptable answer. Not in 2024. Not when the average time buyers spend on real estate websites is less than two minutes.
NAR’s latest consumer guide tells buyers exactly what to ask a prospective agent. Agents should be prepared with compelling responses that play up their value.
Long-time Douglas Elliman chairman and CEO Howard Lorber is retiring. The New York-based brokerage announced Lorber’s retirement on Tuesday. Lorber has served as Douglas Elliman board chairman since 2003. In a press release, the brokerage said that it “extends its deepest appreciation to Mr. Lorber for his strategic vision and years of dedication and hard work that have made Douglas Elliman the country’s premier real estate brokerage firm, setting new standards in luxury service and innovation.
The company announced a number of product updates this week, including the release of its much-anticipated Real Wallet and enhancements to its Leo AI assistant.
September 2024 SOUTH FLORIDA Housing Report SOUTH FLORIDA Home Sales Down, Average Price Up Home sales are down 16.5% year over year, with September 2024 at 5,170 compared to 6,190 last September. Sales are down across all categories. Single families: 3,052 (2023) | 2,669 (2024) Condos & Townhomes: 3,138 (2023) | 2,501 (2024) Average sale price increased 14.7% year-over-year, now at $817,700 compared to $712,748 in September 2023.
Long & Foster exec named president of Florida's Premier Sotheby's International Realty; veteran brokerage leader now Atlanta regional VP for Coldwell Banker.
New home sales in September were at a seasonally adjusted annual rate of 738,000, an increase of 4.1% compared with August and up 6.3% compared with September 2023, according to estimates from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. The median sales price of a new home sold in September was $426,300. The average sales price was $501,000.
The CFPB claimed statements made by hosts of Townstone Financial's AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage.
Lamacchia Realty surpasses $2 Billion in Sales Volume in 2024 Lamacchia Realty has reached an incredible milestone by achieving $2 billion in sales volume for the first time. This accomplishment comes shortly after the company surpassed $1 billion in sales volume this past June. This success is a testament to the hard work and dedication of all the staff and our amazing REALTORS® who are committed to providing exceptional service to their clients.
The three-hour “Haunt the Beetlejuice House” tours will be available from Nov. 16 to 27, with booking open until Nov. 4. Each tour accommodates up to six guests, who must be 18 or older, with any accompanying guests aged 13 and up.
As of 2023, nearly 40% of homeowners in the United States are mortgage-free, the highest level seen in the past 13 years. With elections approaching, it is valuable to analyze the share of mortgage-free homeowners across congressional districts, as these patterns often provide insights into the local housing market as well as demographic shifts. Both.
Mortgage Capital Trading says it has improved the functionality of its mortgage hedging software with customized spec durations. Mortgage lenders using MCT’s capital markets platform MCTlive! now have the ability to increase, review, and refine the granularity of their spec durations, leading to more precise hedging and reduced basis risk. The new specified loan durations functionality, customized to the given lender’s execution, puts the formerly back-end modeling directly in the hands of mortg
It's up to you to make your own luck and find opportunities where others won't look. Jimmy Burgess offers strategies both old and new that are poised to work now.
Join us as we break down the biggest real estate headlines shaping the market right now! In this episode of The Movoto Mic , we’re breaking down the latest real estate headlines with real estate journalist, James Rodriguez. We’ll dive into the impact of rising mortgage rates, discuss how first-time homebuyers are navigating the market, and explore what Gen Z’s entrance means for the future of home buying.
AppFolio, which states its has more than 20,000 property management customers, acquired home management and services concierge LiveEasy as part of its new approach to providing for renters.
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