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International homebuyers purchased the fewest number of existing homes for any year since the National Association of Realtors (NAR) began tracking the data in 2009. On Wednesday, the trade group reported in its 2024 International Transaction in U.S. Residential Real Estate Report that the number of existing homes purchased by international buyers had fallen 36% year over year to 54,300 homes during the year ending in March 2024.
Down Payment Resource (DPR) is showcasing 18 U.S. homebuyer assistance programs that are especially made to support persons with disabilities and their family caregivers on their road toward homeownership in honor of Disability Pride Month, which takes place in July. 18 of the 2,300+ U.S. homebuyer aid programs in DPR’s database are especially designed to support accessibility and inclusivity for prospective homeowners with disabilities, while individuals with impairments may be eligible for any
Higher mortgage rates have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. And higher rates are also impacting the future supply of homes, as housing permits have been in a downtrend for a while. Single-family permits fell again in today’s housing starts report. Of course, the one solution that can change the tide for this concerning downtrend is lower mortgage rates.
In today’s episode, we welcome back Shawn Telford, the Chief Appraiser and Valuation Officer for CoreLogic. Shawn takes us through his journey in the appraisal industry and his influential role at CoreLogic. Then we delve into the upcoming UAD changes, their implications for appraisers, and the timeline for these significant updates. Plus, get a sneak peek into the panel discussion Shawn will lead at Val Expo on August 21st, alongside industry experts Lee Trice and James Heaslet.
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.
There is no escaping the reality that the recent NAR/Sitzer/Burnett settlements is already changing the real estate world as we know it. Amongst the most substantial terms of that agreement is a blanket ban on the requirement that agents subscribe to MLSs to offer or accept compensation for their work. There has been quite a bit of discussion already about how this will impact the traditional residential purchase.
The TV star and founder of The Agency says running an association is “a pain” but sees opportunities to improve the agent experience and “fragmented” MLS space.
The TV star and founder of The Agency says running an association is “a pain” but sees opportunities to improve the agent experience and “fragmented” MLS space.
Six U.S. regulators announced on Wednesday that they have approved a final rule that requires mortgage originators and secondary market issuers to impose quality control standards for their automated valuation models (AVMs). In June , the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) announced their approval of the final rule.
High mortgage rates, which increase the cost of buying, should push prices down — right? But the relationship between rates and home prices isn’t that simple.
Real estate investor sentiment rose 16% from the prior quarter and 60% of surveyed investors view the current housing market more favorably than a year ago. That was the key conclusion of the Summer 2024 Investor Sentiment Survey released Wednesday by Connecticut-based mortgage lender RCN Capital and conducted by business advisory firm CJ Patrick Co.
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.
Mortgage applications increased 3.9% on a seasonally adjusted basis during the week ending July 12, due mainly to borrowers taking advantage of a decline in rates to refinance their home loans, according to data released Wednesday by the Mortgage Bankers Association (MBA). “Mortgage rates declined last week, as recent signs of cooling inflation and the increased likelihood of Federal Reserve rate cuts later this year pulled them lower,” Joel Kan, MBA’s vice president and deputy chief economist,
The proposed regulation — the first of its kind — comes at a time when the real estate is already dealing with lawsuits over unsolicited texts and calls.
Despite a 3% monthly increase , the pace of new housing construction was 4.4% slower in June 2024 than a year prior, according to data released Wednesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). In June, privately owned housing starts were at a seasonally adjusted annual rate of 1.353 million units.
This piece originally appeared in the July 2024 edition of MortgagePoint magazine, online now. /*! elementor – v3.22.0 – 26-06-2024 */.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading.elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading.elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading.elementor-heading-title.elementor-size-medium{font
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.
The U.S. Department of Housing and Urban Development (HUD) on Wednesday proposed a new rule that would implement a permanent program to sell seriously delinquent single-family mortgages insured by the Federal Housing Administration (FHA). These sales have been tested by HUD since 2002, but HUD said that the proposed rule will improve community stability and expand the availability of affordable homes for families as the market faces a supply challenge.
U.S. Sen. Sherrod Brown , Chair of the Senate Committee on Banking, Housing, and Urban Affairs , and Sen. Mike Braun have announced the Senate passage of their legislation, the VA Home Loan Awareness Act , to help inform veteran homebuyers of their eligibility for the VA home loan program, which will assist more veterans in achieving the dream of homeownership.
A newly released episode of the Real Estate Insiders Unfiltered Podcast explores the future state of buyer and seller relationships in the housing market after the National Association of Realtors ‘ (NAR) business practice changes take effect Aug. 17. Co-hosts James Dwiggins and Keith Robinson chatted with industry expert Ed Zorn to address key questions that real estate agents may have in the wake of recent Department of Justice investigations targeting several organizations, including th
California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.
Survey data released Wednesday by F&G Annuities & Life Inc. shows that economic realities and other considerations are driving Americans to either delay or come out of retirement. F&G’s newly released Retirement Reconsidered survey , which was conducted in May across a sample of 2,048 respondents ages 50 and older, found that 51% of this cohort are thinking of reentering the workforce or pushing back their retirement plans.
Housing affordability will remain an issue at the forefront of the upcoming presidential election, where swing states will determine the next president and the future of housing costs.
Compass continues to welcome top-producing agents to the firm. Earlier this month, the brokerage announced that it was welcoming 30 agents in South Florida from the Engel & Völkers -brokered SWF Premium Real Estate Team. The team will be part of Compass’ newly opened office in downtown Naples. “We are thrilled to announce Compass’ new real estate office in Downtown Naples on Fifth Avenue,” Adam Vellano, managing director at Compass, said in a statement.
About 93% of adult zoomers – the generation born in the 15-year span from 1997 to 2012 – want to own a home, with 58% saying they want to own property so they can be rich and wealthy someday, a survey conducted by Clever finds. But with high interest rates and a lack of available homes sending prices soaring, 60% of Gen Z worry they might never own a home, the survey of 1,000 zoomers reveals.
Reverse mortgage marketing can be an exacting process. Due to ongoing reputational challenges stemming from years (and loans) past, lenders have to consider the ways they can effectively recontextualize the product for some clients while broadening its appeal, compensating for misconceptions and acknowledging current realities around things like interest rates, retirement savings levels and access to equity.
Total mortgage application volume increased 3.9% during the week ended July 12, driven by a significant drop in mortgage rates that resulted in a surge in refinances, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The average rate for a 30-year fixed-rate mortgage decreased to 6.87%, down from 7% the previous week.
Who you knew was important when I was a trainee. What you knew was simple: compare comps. Find some comps. Make adjustments. Or — avoid adjustments. (My expert MAI trainer said “if you make adjustments, then the other attorney will ask you how you got the number.” “Just say better, worse, or similar!) Finding comps […] The post Who You Know or What You Know?
Interest rate buydowns involve a trade-off between upfront costs and long-term affordability. Clever CEO Luke Babich offers strategies to help clients make the choice.
Elevated interest rates for home mortgages and construction and development loans kept single-family production and demand in check during June. Overall housing starts increased 3.0% in June to a seasonally adjusted annual rate of 1.35 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Leading during times of change is undoubtedly challenging, new Inman contributor Justin Bailey writes, but it also presents an opportunity to propel education, build stronger teams and enhance relationships.
Non-QM lender A&D Mortgage has launched a new loyalty program designed to recognize and appreciate the dedication and commitment of its broker partners. The firm’s new ADvantage Partner program is set to transform the way mortgage brokers operate, providing them with unparalleled benefits and rewards while revolutionizing their businesses, A&D Mortgage says in a release.
Maria Avellaneda rejoins KWNYC after six years at Compass. She will focus on ultra-luxury transactions and lead the franchise’s luxury market in the Hamptons.
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