Housing Wire
APRIL 4, 2024
Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We gave the public extra time to comment on the rule because it was really complex.
Sacramento Appraisal Blog
APRIL 4, 2024
It’s nice to see so many accessory dwelling units lately, but is there such a thing as too many? Well, maybe according to Fannie Mae. Let’s talk about this. UPCOMING SPEAKING GIGS: 4/11/24 Lindsay Carlisle Event (private) 4/25/24 HomeSmart iCare Realty (details TBA) 4/26/24 Prime Real Estate (private) 5/9/24 Empire Home Loans (details TBA) 5/15/24 […] The post Adding too many ADUs gets awkward first appeared on Sacramento Appraisal Blog.
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Housing Wire
APRIL 4, 2024
U.S. property taxes on single-family homes rose twice as fast in 2023 as they did in 2022, with a total of $363.3 billion levied compared to $339.8 billion one year earlier. This is according to an analysis conducted by Attom , based on property tax data collected from county tax assessor offices nationwide at the state, metro and county levels. The data also used an automated valuation model (AVM), and the analysis applied to 89.4 million single-family homes in the U.S.
Appraisal Buzz
APRIL 4, 2024
Roughly $363.3 billion in property taxes were levied on single-family homes nationwide in 2023, up 6.9% from $339.8 billion in 2022, according to ATTOM. The increase was almost double the 3.6% growth rate in 2022 – and the largest in the past five years, the firm says in its annual property tax analysis report. The report also shows that the average tax on single-family homes in the U.S. increased 4.1% in 2023, to $4,062, after going up 3% the previous year.
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Housing Wire
APRIL 4, 2024
Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. This is according to local reporting by a Houston ABC News affiliate. Primarily allocated to the city following Hurricane Harvey in 2017 through a recovery program administered by the state via federal funds , the city aimed to use the money to purchase three lots on which
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
APRIL 4, 2024
Despite settlement agreements from Anywhere , RE/MAX , Keller Williams , Compass and the National Association of Realtors (NAR), the copycat commission lawsuits keep coming. On Wednesday, plaintiff Rajninder (Raven) Jutla, who owns In Love Properties LLC , filed an antitrust lawsuit against Redfin in the U.S. District Court for the Eastern District of California in Sacramento.
Real Estate News
APRIL 4, 2024
A new study from T3 Sixty and PrimeStreet surveyed brokerages on their lead-gen practices and use of online and AI tools. The latter has produced mixed results.
Housing Wire
APRIL 4, 2024
Keller Williams was named in yet another class-action lawsuit that contests alterations made to the brokerage’s profit-sharing program. There are now seven class-action lawsuits against KW that challenge the company’s profit-sharing program adjustments. In the past few weeks, six agents formerly affiliated with Keller Williams — Jerri L. Moulder, David L.
Real Estate News
APRIL 4, 2024
Mortgage rates ticked up slightly this week, but have stayed in a narrow range throughout 2024. Upcoming economic reports could test this period of stability.
Speaker: Dylan Secrest
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.
Housing Wire
APRIL 4, 2024
HousingWire Editor in Chief Sarah Wheeler sat down with Sheila Reddy, CEO at Mosaik, to talk about how the company is leveraging their experience building technology solutions for healthcare to benefit real estate agents and homebuyers. This interview has been edited for length and clarity. Sarah Wheeler: What differentiates Mosaik’s technology?
Appraisal Buzz
APRIL 4, 2024
Mortgage rates continued to hold steady this week, with the average rate for a 30-year fixed-rate mortgage rising slightly to 6.82%, up from 6.79% 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 6.28%. “Mortgage rates showed little movement again this week, hovering around 6.8 percent,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Housing Wire
APRIL 4, 2024
The federal judge overseeing a case brought by Texas Capital Bank (TCB) against Ginnie Mae has dismissed a portion of the bank’s complaint against the government-owned company but will allow the majority of the case to progress, according to court filings reviewed by RMD. Presiding Judge Matthew Kacsmaryk ruled in the U.S. District Court for the Northern District of Texas that Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from the Home Equity Conversion Mortgage (HECM)-backed Sec
Inman
APRIL 4, 2024
The Berkshire Hathaway affiliate says final judgment in the case shouldn't come before settlements are finalized, a process the franchisor does not expect to be "uncontroversial.
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Housing Wire
APRIL 4, 2024
Arizona -based brokerage LUXE Realty welcomed Jack Luciano and Raul Siqueiros as director of estates division and director of new development, respectively, the company announced on Thursday. The two real estate agents were formerly associated with The Agency Scottsdale. They are bringing several top-producing agents with them, including Amy Rhodes, Melissa Herrera, Niko Siqueiros and Peter Hall. ”We’re excited to officially welcome Jack and Raul and their team,” LUXE Realty founders Brian Guzm
Inman
APRIL 4, 2024
The seller of the 4.5-acre property at the base of Red Mountain is Canadian professional hockey player-turned-entrepreneur Patrick Dovigi. The buyers are former casino mogul Steve Wynn and financier Thomas Peterffy.
Housing Wire
APRIL 4, 2024
In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT). This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity).
Inman
APRIL 4, 2024
Rising mortgage rates thwarted the first weeks of the spring market, according to a Redfin housing report published on Thursday. Homesellers pulled back during the four weeks ending March 31, leading new listing growth to experience the smallest annual increase in seven weeks (+8.4 percent).
Housing Wire
APRIL 4, 2024
The U.S. Department of Housing and Urban Development (HUD) on Thursday announced a new series of affordable housing grants totaling $13.5 million, which will go to support the creation of homes for low-income, first-time homebuyers as part of HUD’s Self-Help Homeownership Opportunity Program (SHOP). Announced by Marion McFadden, HUD principal assistant secretary for community planning, at a Habitat for Humanity event in Nashville, the $13.5 million in “sweat equity grants” will go to support fou
Inman
APRIL 4, 2024
The 9-acre island off the coast of Tampa, Florida, colloquially known as "Beer Can Island," is now on the market seven years after Cole Weaver, James Wester and Russell Loomis first bought it in 2017.
Housing Wire
APRIL 4, 2024
Ryan Serhant — the acclaimed real estate broker, media personality and serial entrepreneur — is moving beyond his career in real estate to delve into the broader arena of sales. Serhant has teamed up with former NBC News producer Kyle Scott to unveil SellIt, a sales training platform tailored for all types of entrepreneurs. “SellIt is the culmination of everything I’ve used to sell nearly $10 billion in volume over the course of my career and I’ve applied to the sales processes at my companies,”
Inman
APRIL 4, 2024
Garry Marsoubian previously held a leadership position at Bright MLS and has experience working with multiple listing services' data and technology.
Housing Wire
APRIL 4, 2024
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders are open until April 30, 2024. Click here to nominate someone from your organization today. While they have endured a rocky, rates-driven cycle, marketers in mortgage and real estate continue to play a pivotal role in lead generation, customer acquisition and retention differentiation that has helped
Inman
APRIL 4, 2024
Austin, Texas-based fintech hires CoreLogic vet as CEO and signs APEX Mortgage Group, C2 Financial and Cornerstone First Mortgage as partners.
Housing Wire
APRIL 4, 2024
This week in Washington, D.C., representatives at federal agencies reinforced their support for the new rules that would modernize the Community Reinvestment Act (CRA), a few days after a federal judge in Texas granted a preliminary injunction to banking associations that seek to halt its implementation. Meanwhile, community-focused trade groups and associations, although feeling that the new rules miss some relevant aspects of fair lending, criticized the judge’s decision.
Inman
APRIL 4, 2024
Software company Inside Real Estate (IRE) has added two industry veterans in key positions, naming Stacey Soleil Senior Vice President of Community and Engagement and Ryan Hartman Vice President of Social & Product Engagement.
Eyes on Housing
APRIL 4, 2024
According to the latest What Home Buyers Really Want Study*, home buyers have rather diverse preferences when it comes to the architectural style of their home. In fact, there is no national consensus on exterior design. At best, a plurality of 34% would prefer to purchase a ‘traditional’ home (rooted in historic styles), while a.
Inman
APRIL 4, 2024
The real estate industry is in mourning as it says goodbye to one of its most powerful and glamorous figures, DirectOffer COO Jennifer Berman.
Appraisal Buzz
APRIL 4, 2024
U.S. home prices increased 0.7% in February compared with January and were up 5.5% compared with February 2023, according to CoreLogic’s home price index report. The firm forecasts that annual home price appreciation will taper to 3.1% by February 2025. In February, four of the top five states with the highest annual home price growth were in the Northeast: New Jersey, Rhode Island, Maine and Connecticut The five states where home prices remain furthest from the summer 2022 peak are Idaho, Washi
Inman
APRIL 4, 2024
If agents want to beat out their local competition, writes trainer and leadership expert Jeff Glover, they need to start focusing on owning the listing inventory in their markets.
Appraiserblogs
APRIL 4, 2024
The case eventually found its way to the U.S. Supreme Court, where it came to be known to the public as the “Sick Chicken Case” It was the Great Depression’s bleakest year – 1933. At President Roosevelt’s urging, Congress passed the National Industrial Recovery Act, a New Deal bill that partially ceded lawmaking authority to private organizations and industry boards to develop codes of conduct that would then be enforced on citizens as binding law.
Inman
APRIL 4, 2024
Find out what this Utah broker sees in the year ahead, and learn how she defines good leadership in today's market.
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