Appraisal Buzz
JULY 18, 2024
ATTOM has released its updated monthly report on U.S. Commercial Foreclosures , revealing a continued increase in commercial foreclosures over the years, from a low of 141 in May 2020, to the current figure of 647 in June 2024. Since January 2014, ATTOM has been analyzing data, a period marked by the nation’s emergence from economic uncertainty, with commercial foreclosures numbering 740 nationwide.
Housing Wire
JULY 18, 2024
After slamming the California Association of Realtors (CAR) for a draft of its buyer representation agreement, the Consumer Federation of America (CFA) on Tuesday released its proposed criteria for evaluating buyer representation agreements. The CFA said the proposed criteria was created after the group received requests from several unnamed real estate companies.
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Appraisal Buzz
JULY 18, 2024
A new survey from the National Association of Realtors (NAR) revealed that from April 2023 to March 2024, foreign purchasers bought $42 billion worth of existing properties in the U.S., a 21.2% decrease from the previous 12 months. 54,300 properties were purchased by foreign buyers, representing the lowest amount of homes purchased since 2009, the year NAR started collecting this data, and a 36% decrease from the prior year.
Housing Wire
JULY 18, 2024
Millennials are once again the largest group of homebuyers in the country. In some metro areas, they are buying homes at rates up to 13 times higher than other areas. A report released this week by personal finance website SmartAsset analyzed data from the U.S. Census Bureau and the Home Mortgage Disclosure Act (HMDA) across the 40 largest U.S. metro areas to determine the top markets for millennial homebuyers.
Real Estate News
JULY 18, 2024
Despite falling rates, homebuyer demand remains weak. Now could be a chance to make offers before inventory tightens and prices rise further, one expert says.
Housing Wire
JULY 18, 2024
What happens when you combine a decentralized application (dApp) tokenization platform with a decentralized finance (DeFi) protocol built on real-time data? Other than an intriguing word salad, two real estate proptech startups believe it means very good things for property owners using nonfungible tokens (NFTs). Propy and Parcl announced a strategic partnership on Thursday in which they hope Parcl’s data integrations will improve the analytics for assessing real estate minted on the dApp PropyK
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Housing Wire
JULY 18, 2024
Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% at the end of 2024 and 5.75% in 2025, unlocking $2.7 trillion in refinancing opportunities. “Recent economic data supports a path toward rate cuts and, therefore, a refinance rally,” Jefferies analysts Derek Sommers and John Hecht wrote in a report released Thursday.
Real Estate News
JULY 18, 2024
A new report shows major drops in international purchases of U.S. real estate, at a time when legal efforts to restrict buyers from certain countries ramped up.
Housing Wire
JULY 18, 2024
Fintech Sagent hired Jaime Gow, a former executive at Mr. Cooper and First Horizon Bank , as its new chief financial officer. The hiring coincided with the departure of the company’s chief technology officer, Uday Devalla. Warburg Pincus -backed Sagent highlighted Gow’s background in servicing as a reason for hiring him. That’s the exact space in the mortgage industry that the company wants to target with its software platform, Dara , which was launched in February.
Appraisal Buzz
JULY 18, 2024
Mortgage rates decreased for a second week as the average rate for a 30-year fell to 6.77%, down from 6.89% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.78%. “The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Housing Wire
JULY 18, 2024
A coalition of eight trade groups — including the Housing Policy Council (HPC), the Mortgage Bankers Association (MBA) and the Community Home Lenders of America (CHLA) — have requested additional time from the Consumer Financial Protection Bureau (CFPB) to comment on proposed changes to Regulation X , which implements the Real Estate Settlement and Procedures Act (RESPA).
Appraisal Buzz
JULY 18, 2024
According to Realtor.com’s most recent rental report , in June, median rent continued to fall, but nationwide rent are sitting just below 2022 levels, with rents also declining in all size categories. In June, rents decreased once more, with particularly significant drops in the South due to an increase in newly constructed apartments, per a Realtor.com Rental Report that was published recently.
Housing Wire
JULY 18, 2024
We all know that sellers hear what they want to hear and believe what they want to believe when it comes to how market conditions will impact the sale of their home. They believe their home is special and people will be knocking on the door with full price offers within days of hitting the market. When that doesn’t happen, who do they blame? The agent , of course!
Appraisal Buzz
JULY 18, 2024
International buyers purchased $42 billion worth of U.S. residential properties from April 2023 to March 2024, down 21.2% from the prior year, according to the National Association of Realtors (NAR). The 54,300 existing homes sold – the lowest since NAR began tracking in 2009 – slid 36% from the previous year. However, the average ($780,300) and median ($475,000) purchase prices for foreign buyers were the highest ever recorded by NAR.
Housing Wire
JULY 18, 2024
Leading Real Estate Companies of the World is joining the wave of firms strengthening its leadership team. On Wednesday, the Chicago-based firm announced that it is welcoming Tripti Kasal to it leadership team. Kasal will serve in a newly created role as LeadingRE’s senior vice president of member engagement. In this role Kasal will lead LeadingRE’s U.S. membership services team, with a focus on increasing member engagement and matching members with resources from LeadingRE’s Solutions Group.
Real Estate News
JULY 18, 2024
Watch the conversation as Lane Hornung of zavvie and 8z explains what agents need to know about “power buying” and innovations in financing to show real value.
Housing Wire
JULY 18, 2024
In part 2 of a wide-ranging interview with Editor in Chief Sarah Wheeler, Brooke Anderson-Tompkins talks about the right time to start implementing AI and why she’s an AI optimist. Anderson-Tompkins was president of 1st Priority Mortgage for 15 years and is a former chair of the Community Mortgage Lenders of America (now Community Home Lenders of America).
Inman
JULY 18, 2024
Despite 11 months of declines, Realtor.com said the typical renter is paying $305 more monthly for an apartment compared to 2019. The greatest rent increases are in Florida and the Midwest.
Housing Wire
JULY 18, 2024
Finance of America , the reverse mortgage industry’s leading lender, announced this week that its planned reverse stock split will take place as scheduled on July 25. The plan, initially announced last month , involves consolidating the available shares in the company into fewer, higher-priced shares. Faced with the prospect of being delisted from the New York Stock Exchange (NYSE) due to noncompliance with the exchange’s listing standard, the company sees this move as necessary to shore up its
Inman
JULY 18, 2024
Is it still impolite to talk about politics? Maybe not, and social media expert Jessi Healey says talking about it might gain you more followers than you think.
Housing Wire
JULY 18, 2024
Thing are heating up in Move Inc. ’s ongoing battle with CoStar Group. On Monday, Move (the parent company of Realtor.com ) filed a motion for a preliminary injunction in the suit it filed earlier this month against CoStar, the parent company of Realtor.com rival Homes.com , and James Kaminsky, a former Move employee who now works for Homes.com. In the complaint, Move alleges that Kaminsky stole trade secrets to help fuel the rapid growth of Homes.com.
Inman
JULY 18, 2024
The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.
Empire Appraisal Group
JULY 18, 2024
Florida Takes 11 of Top 25 Fastest-Growing Cities By Garrett Phillips Miami ranked No. 2 in the U.S. News and World Report’s list of fastest-growing cities. Other cities among the top 25 include Tampa, Lakeland, Port St. Lucie and Ocala. TAMPA, Fla. – Three Tampa Bay area cities were ranked among the fastest-growing cities in the nation, according to U.S.
Inman
JULY 18, 2024
Are you spending time on things that simply don't matter to your professional growth or the growth of your business? Jimmy Burgess offers a list of things you may be doing that are counter-productive.
BiggerPockets
JULY 18, 2024
Airbnb bans escalate, a “tsunami” could be coming for this real estate niche, and “sinking” cities lead to skyrocketing insurance prices.
Inman
JULY 18, 2024
With its new capabilities, the platform will allow agents and concierge coordinators to automate the generation of listing descriptions, image captions and property attributes "in minutes," the firm told Inman.
Mortgagebroker News
JULY 18, 2024
He misled investors about mortgage investments and lied on license applications
Inman
JULY 18, 2024
Houston-based Nan & Company Properties has launched an auction division, with the initial bidding centered on a Friendswood mansion, the company announced.
Mortgagebroker News
JULY 18, 2024
Family assistance increasingly common for first-time buyers
Inman
JULY 18, 2024
Launched in the midst of the 2008 financial crisis to weed out bad actors, the Nationwide Multistate Licensing System & Registry (NMLS) is scheduled to be updated this weekend as part of a long-term modernization project.
Mortgagebroker News
JULY 18, 2024
Plan targets lower emissions and affordable housing solutions
Inman
JULY 18, 2024
Built in 1958, the mid-century home is a historical landmark. The estate is owned by Cecilia Joyce Johnson, the widow of late American artist Seward Johnson II, who passed away in 2020.
Mortgagebroker News
JULY 18, 2024
Bank says Canada struggles under the surface
Inman
JULY 18, 2024
By approaching change with a positive, growth mindset and intentionality, coaches Emily Bossert and Melanie Klein write, you'll be ready for whatever comes next in business and life.
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