Appraisal Buzz
DECEMBER 16, 2024
According to a new study from Redfin , older Americans are more likely than younger Americans to buy homes in places with significant climate risk. More than one-third (36.9%) of home purchases made by people 65 years of age and older last year were in counties with an elevated risk of extreme heat, compared with less than one-third (32.3%) of home purchases made by people under the age of 35.
Housing Wire
DECEMBER 16, 2024
As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Almost every market in the country has more homes available now than at the end of 2023. Ten states have more inventory unsold than in 2019, which was the last sort of normal year before the pandemic. A few states have more homes on the market now than any time in the last eight to 10 years.
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Appraisal Buzz
DECEMBER 16, 2024
Of the property managers aware of the practice, almost half (48%) report rent payments to credit agencies, says a new report from TransUnions Tenant and Employment group a 33% jump from last year, and last year was a 36% jump from the year before. That means more than half (52%) of property managers who report rent payments began doing so in the past two years.
Housing Wire
DECEMBER 16, 2024
Dramatic mortgage rate movements are destined to play a major role in the coming year, according to Zillow ‘s newest forecast , which also calls for declining mortgage rates to be a catalyst for home-sales growth and home-price appreciation in 2025. “There’s a strong sense of dj vu on tap for 2025. We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path,” Zillow chief
Appraisal Buzz
DECEMBER 16, 2024
I was coaching an appraiser a while back who, like so many of us, desperately needed a vacation. He was itching to go on a seven-day cruise to the Caribbean, get some much-needed sunshine, and relax with his spouse by the pool. But heres the catch: he wasnt planning on leaving his work behind. Ill just take my laptop, he said. I can carve out a couple of hours each day to stay on top of my appraisals.
Housing Wire
DECEMBER 16, 2024
Homeowners have generally done well over the last few years in accumulating home equity wealth. Since the onset of the pandemic, average equity per borrower increased by about $117,000 nationally, totaling almost $312,000 per mortgaged borrower. Aggregated across borrowers with a mortgage, home equity adds up to almost $17.5 trillion. Adding homeowners without a mortgage, who own their home free and clear, total households equity amounts to over $35 trillion.
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Housing Wire
DECEMBER 16, 2024
The past year had its fair share of ups and downs for Howard Hanna Real Estate Services. The family-run brokerage firm recorded some legal w ins and losses , developed new tools for agents and clients , and navigated one of the slowest years for home sales in nearly three decades. According to Hoby Hanna , the president and CEO of Howard Hanna, the company did this by leaning into its rich history.
Appraisal Buzz
DECEMBER 16, 2024
As Baby Boomers age out of their homes, will it help create enough inventory to boost the housing market? As per a recent report from Zillow , it all depends on the specific housing market. The report finds that even though many Baby Boomers will soon be aging out of their homes, the resulting boost to housing inventory will be mostly concentrated in markets where there is less demand.
Housing Wire
DECEMBER 16, 2024
As the reverse mortgage industry prepares to say goodbye to the tumultuous year that is 2024, positive news for the Federal Housing Administration (FHA)s Home Equity Conversion Mortgage ( HECM ) program which backs most of the countrys reverse mortgages helps give a sense of overall health for the program despite some of the business challenges endured this year.
Appraisal Buzz
DECEMBER 16, 2024
The top luxury vacation home markets for 2024 have been identified by Pacaso s fourth annual Top Vacation Home Markets Report. By analyzing second home-to-primary house ratios, rate lock growth, and price trends for properties costing more than $700,000, the research identifies the top 20 counties in the U.S. The destinations on this years list really capture the breadth of the luxury vacation home market, said Austin Allison, CEO and Co-Founder of Pacaso.
Housing Wire
DECEMBER 16, 2024
The COVID-19 pandemic turned a number of nontraditional cities into housing market hotspots. While some of those markets have since seen a reversal of fortunes, 2025 may bring a few more surprises. Thats according to a new report from the National Association of Realtors (NAR) which predicts metropolitan areas that will pop in the new year. Among the 10 NAR highlights there are common themes existing affordability, lower lock-in effect on mortgages, strong job growth and high migration.
Appraisal Buzz
DECEMBER 16, 2024
With mortgage rates forecast to remain above 6%, inventory expected to remain tight, and home prices predicted to stabilize at their current highs, its looking like the housing market wont see much of a thaw in 2025, Fannie Maes Economic and Strategic Research (ESR) Group says in a recent report. As a result, existing-home sales are forecast to rise only slightly from their recent multi-decade lows, the ESR Group predicts.
Housing Wire
DECEMBER 16, 2024
In an evolving mortgage market, mergers and acquisitions could give mortgage company owners opportunities to achieve growth and avoid challenges. In a three-part podcast series, Dan Hanson , the executive director of enterprise partnerships and acquisitions at loanDepot , answers three key questions for owners: When is a good time to sell my company?
Appraisal Buzz
DECEMBER 16, 2024
Matt Nader is the new president for First Home Mortgage , a full-service residential mortgage lender. Nader joined First Home Mortgage in 2018 as a loan officer and quickly rose to the top of the production rankings, demonstrating exceptional talent and dedication. In his new role, Nader will focus on expanding First Home Mortgages reach, enhancing client experiences, and strengthening relationships with referral partners.
Housing Wire
DECEMBER 16, 2024
Older homeowners have an overwhelming preference to age in place , but these circumstances can also come with unique challenges. Feelings of isolation and loneliness rank highly among these issues, but a recent study suggests that aging in place with a pet can make a big difference. The study, highlighted in Psychology Today , also noted that having pets in later life can come with its own set of unique challenges , according to Ann Toohey, one of the authors of the study who is based at the Uni
Real Estate News
DECEMBER 16, 2024
Hanna Holdings, eXp and Weichert are among the brokerages yet to resolve litigation in the buyer agent commissions lawsuit.
Housing Wire
DECEMBER 16, 2024
Title insurance underwriter Title Resources Group (TRG) conducted a round of layoffs on Friday focused on professionals from the agency division of Doma Holdings , the real estate technology company it acquired in March, sources told HousingWire. The exact number of affected employees remains unclear, though some sources estimate at least 20. The layoffs appear to be part of a broader workforce reduction focused on staff working with independent agents, including sales, audit and support roles,
Real Estate News
DECEMBER 16, 2024
Floods, fires and other climate events are changing the real estate landscape. Agents should expect more questions about risk factors and be ready to respond.
Housing Wire
DECEMBER 16, 2024
The new year will hold special significance for the many users of ICE Mortgage Technologys iconic Encompass loan origination system (LOS): The company will begin sunsetting its long-standing software development kit (SDK) in 2025, prodding the majority of the mortgage industry to transition to the more efficient and accurate Encompass Partner Connect (EPC) ecosystem that leverages the up-to-date application programming interface (API).
Real Estate News
DECEMBER 16, 2024
After several atypical years, the real estate market is expected to settle into a new normal, with lower rates, more sales and improving affordability.
Housing Wire
DECEMBER 16, 2024
Despite rising home prices and mortgage rates , second-home investors overtook a select group of vacation real estate markets. This week, online marketplace Pacaso highlighted counties in New Jersey , Florida and Massachusetts as leading markets for sales of luxury vacation homes. Pacaso’s report revealed the top 20 counties for luxury home sales across the U.S.
Appraisal Buzz
DECEMBER 16, 2024
This article originally appeared in the December 2024 edition of MortgagePoint magazine, online now. A question that has become prevalent in Pennsylvania foreclosure of late has been, does a borrower have a right to a jury trial for in rem actions in foreclosure? This has particularly come to light as an opinion from the Philadelphia Court of Common Pleas stated a borrower does have such a right in U.S.
Sacramento Appraisal Blog
DECEMBER 16, 2024
What’s January going to be like in 2025? What can we expect ahead for the housing market? Today, I have three quick points, and while these visuals are specific to my area, some of the language use can be used in many different markets. This is my last blog post of 2024. Thanks for being […] The post Three things to expect in the housing market in January first appeared on Sacramento Appraisal Blog.
Real Estate News
DECEMBER 16, 2024
While some trends have been consistent across the U.S., four states exemplify regional variability in 2025: Texas, California, Florida and Virginia.
Inman
DECEMBER 16, 2024
The Municipal Housing Authority for the City of Yonkers is collaborating with AreaHub to better understand how severe weather impacts its mission to protect and safeguard affordable housing.
Eyes on Housing
DECEMBER 16, 2024
Over the first ten months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 846,446. On a year-over-year (YoY) basis, this is an increase of 9.4% over the October 2023 level of 773,526. Year-to-date ending in October, single-family permits were up in all four regions. The range of permit increases spanned.
Inman
DECEMBER 16, 2024
In total, real estate technology entrepreneurs landed $15.1 billion in funds for their ideas on how to improve the industry, according to CRETIs 2024 Proptech Venture Capital Analysis.
Eyes on Housing
DECEMBER 16, 2024
The U.S. trade deficit in goods was at $112 billion in the month of October, according to the Census Bureaus Foreign Trade data. Compared to last year, the level has increased 13.3%, rising from $99 billion. Total goods imported was valued at $289 billion while the exports were valued at $177 billion in October. The.
Inman
DECEMBER 16, 2024
Realtor.coms annual Housing Forecast offers data-driven predictions and trends for 2025, providing real estate professionals with key insights into the evolving market at both macro and micro levels.
Mortgagebroker News
DECEMBER 16, 2024
Finance minister to step aside after prime minister reportedly tried to move her from position
Inman
DECEMBER 16, 2024
This year, Realtor devotion to fiduciary duty has been openly questioned, team leader Carl Medford writes. Is this the time to adopt a policy that appears to undermine consumer interests?
Appraiserblogs
DECEMBER 16, 2024
Hybrid Appraisals, Appraisal Waivers and Appraisal Management Companies are the new Con. Last month marked the 7-year anniversary of Appraiser Fest. The conference was truly like nothing that had been done before. It was organized by appraisers for appraisers. The agenda was more about bringing the profession together and protecting the public trust.
Inman
DECEMBER 16, 2024
Kramer had been with the boutique Beverly Hills firm since 2005 and was promoted to president in 2023. The top producer brings the six-person David Kramer Group with him to Compass.
Lamacchia Realty
DECEMBER 16, 2024
Adriana Scholz Qualifies for the 2024 Lamacchia Realty Presidents Club We are so excited to announce that Adriana Scholz has officially qualified for the 2024 Lamacchia Realty President’s Club! She has achieved this impressive milestone by surpassing $16,000,000 in sales volume this year. Adriana joined Lamacchia Realty in August 2024 and has been an invaluable asset to our Waltham office ever since!
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