Housing Wire
AUGUST 28, 2024
The typical down payment for U.S. homebuyers soared to a record high of $67,500 in June, up nearly 15% from $58,788 a year earlier, according to a new report from Redfin. The increase in down payments came despite a slowdown in home price growth (4%). Redfin economists attributed it to the quirks of the current market, where higher-priced, turnkey homes in desirable neighborhoods are more likely to sell.
Appraisal Buzz
AUGUST 28, 2024
Fannie Mae and Freddie Mac have both released additional information regarding new protections for tenants in multifamily properties with mortgages backed by the Government-Sponsored Enterprises (GSEs). The protections are included in the Enterprise Multifamily Lease Standards Policy for multifamily housing providers (borrowers), announced by the Federal Housing Finance Agency (FHFA).
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Housing Wire
AUGUST 28, 2024
The NAR settlement agreement, announced earlier this year, has been an extremely hot topic for agents and prospective homebuyers in the real estate world. This new settlement agreement was enacted on August 17th, 2024, and has been designed to increase transparency in real estate transactions and change how compensation is communicated and negotiated between parties.
Appraisal Buzz
AUGUST 28, 2024
Redfin reports that the typical down payment for U.S. homebuyers hit a record high of $67,500 in June 2024, up 14.8% from $58,788 year-over-year, marking the 12th consecutive month the median down payment has risen year-over-year. The nearly-15% jump in the median down payment significantly outpaced the increase in home prices, which were up 4% in June year-over-year.
Housing Wire
AUGUST 28, 2024
While some in the real estate industry are expecting to see a decline in the number of buyer’s agents as a result of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , others have taken it a step further and are betting their companies on it. Meet the AI real estate agent. Unlike human agents, these AI agents really are available 24/7 and will quickly answer every little question you have about the homebuying process.
Appraisal Buzz
AUGUST 28, 2024
With remote work now the norm in many companies, employees can choose their address based on lifestyle, not commute. So where are the best cities in America for remote workers? Atlanta, take a bow. The Big Peach earned its top spot on the list of 2024’s most affordable cities for its stable economy, low unemployment rate, and remote work factors such as speedy internet and numerous coworking spaces.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
AUGUST 28, 2024
A new report from Redfin says the typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier. This was the 12th consecutive month the median down payment rose year over year. The huge jump in the median down payment significantly outpaced the increase in home prices, which were up 4% in June year over year.
Housing Wire
AUGUST 28, 2024
Westcor Land Title Insurance Co. is looking to up its game against fraudsters. The title firm has launched val-ID by Westcor, a tool designed to help title agents validate the identities of home buyers and sellers, according to an announcement on Wednesday. The tool is powered by the technology of Intellicheck and is engineered by GridBase. “At Westcor, we are committed to providing our agents with the most innovative tools to support their work,” Scott Chandler , the chief operating
Appraisal Buzz
AUGUST 28, 2024
Jim and Hal are back from Valuation Expo and ready to share their highlights from the event. And we’re looking forward to the Appraisal Summit on September 14th-17th. It’s another fantastic opportunity to network, learn, and stay ahead of the curve (plus, we’ll be back in Vegas)! Register here: [link] We’ve also got a BIG announcement: We’re launching an annual award through Appraisal Buzz called The Buzzys!
Housing Wire
AUGUST 28, 2024
The government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac on Wednesday announced new minimum standards to be included in tenant leases on GSE-backed multifamily properties, following up on a policy announced last month by the Federal Housing Finance Agency (FHFA). The new lease standards will require a five-day grace period for rent payments, a 30-day notice for rent increases and a 30-day notice of a lease expiration, the GSEs explained.
Real Estate News
AUGUST 28, 2024
Oklahoma and Texas lead the way, with supply up nearly 20% compared to the same week in 2019.
Housing Wire
AUGUST 28, 2024
Alyssa Weakley — a clinical neuropsychologist, researcher and a caregiver to an older adult — has assisted in the creation of a technology platform that is designed to more easily connect older adults with their family members and caregivers to better support aging-in-place goals. “You never not worry,” Weakley, a researcher at the University of California at Davis, told the university in a news story that highlights her work.
Real Estate News
AUGUST 28, 2024
Lists and calculators can be a starting point for prospective buyers weighing their options, but the decision to purchase a home is based on more than data.
Housing Wire
AUGUST 28, 2024
The Coldwell Banker brand is continuing its summer of growth. On Tuesday, Coldwell Banker Realty announced the affiliation of top-ranked small team The Lara & Chelsea Collaborative. Founded and run by Lara O’Rouke and Chelsea Robinson, the team — which consisted of five agents in 2023 — serves clients in the Wellesley, Massachusetts , area. The team was previously brokered at Gibson Sotheby’s International Realty , another Anywhere brand.
Real Estate News
AUGUST 28, 2024
Major brokerage leaders are telling agents to be patient with other real estate professionals (and consumers) as the industry adjusts to new practices.
Housing Wire
AUGUST 28, 2024
The City of Los Angeles will pay $38.2 million in a settlement agreement stemming from a 2017 case brought by the U.S. Department of Justice (DOJ) on behalf of a disabled resident. The DOJ alleged the city had “fraudulently obtained millions of dollars in housing grants from the U.S. Department of Housing and Urban Development (HUD) by falsely certifying that the money was being spent in compliance with federal accessibility laws.
Real Estate News
AUGUST 28, 2024
Lawyers for Move asked the court to approve a preliminary injunction against CoStar in its trade secrets suit involving a former Realtor.com employee.
Housing Wire
AUGUST 28, 2024
In the newest episode of the Power House podcast , Pacaso CEO and co-founder Austin Allison visits the show to talk about the pros and cons of the co-ownership mortgage model, affordability issues in real estate , and strategies for understanding and developing a strong monetization strategy based on a company’s total addressable market. Pacaso is a co-ownership marketplace that offers vacation home listings to buyers that don’t wish to own a vacation property year-round.
Appraisal Buzz
AUGUST 28, 2024
Whether saving for a house or opting to rent for some other reason, knocking hundreds of dollars a month off housing costs can mean a future with more options. And thanks to a rise in telework options, more households are enjoying greater freedom and flexibility in choosing their locations. In order to help future homeowners and other renters make the most of their incomes, researchers at RentCafe analyzed data from 200 populous metropolitan areas and ranked the regions in affordability by squar
Housing Wire
AUGUST 28, 2024
Tim Bowler, President of ICE Mortgage Technology, has a clear, specific vision for the future of ICE Mortgage Technology and the mortgage industry. In this Executive Conversation, Tim discusses ICE’s investment in product innovation, a company culture based on continuous improvement, and future career opportunities for those looking to make a difference.
Appraisal Buzz
AUGUST 28, 2024
According to a new report from Realtor.com , while sky-high mortgage rates remain, homebuyers don’t have to give up just yet. This is due to the fact that, despite the fact that mortgage rates are currently nearing two-decade highs, borrowers have the ability to reduce their rates by as much as 150 basis points. That’s the difference between receiving a 6.0% or 7.5% rate, which might make a significant difference in their mortgage payment each month.
Housing Wire
AUGUST 28, 2024
Digital closing provider Snapdocs has automated its digital closing revenue management system to help the firm create a faster and more transparent process for clients. In partnering with BillingPlatform, the billing and revenue management solution provides “the automation, scale and flexibility to launch and bill for our core and new products as our business continues to expand,” said Jason Anderson, head of finance at Snapdocs.
Appraisal Buzz
AUGUST 28, 2024
Mortgage application volume inched up 0.5% last week as the average rate for a 30-year mortgage decreased to 6.44%, down from 6.50% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. For the week ended August 23, applications for refinances decreased 0.1% from the previous week and were 85% higher compared with the same week one year ago.
Inman
AUGUST 28, 2024
The Fed doesn't have direct control over mortgage rates, but they've been coming down as investors are increasingly convinced that policymakers will be cutting rates at their three remaining meetings this year.
Appraisal Buzz
AUGUST 28, 2024
Mid Florida Mortgage Professionals is now offering The Trade-In Mortgage from Calque to its borrowers. The loan solution allows homeowners to leverage the equity in their current property to purchase a new home before selling their existing residence. “At Mid Florida Mortgage, we are committed to providing a client-centered mortgage solution, and The Trade-In Mortgage is an integral part of that promise,” says Rayce Robinson, president and CEO of Mid Florida Mortgage Professionals, in a release.
Inman
AUGUST 28, 2024
As Nicole Oge, Richard Jordan and Andrew Wachtfogel sought to start fresh, Oren and Tal Alexander allegedly threatened legal action if they were to be voted out of the firm, The Real Deal reported. The Alexanders deny the allegation.
Eyes on Housing
AUGUST 28, 2024
The average completion time of a single-family house in 2023 was approximately 10.1 months, breaking down to 1.5 months for authorization to start construction and another 8.6 months to finish construction. According to the Census Bureau’s Survey of Construction, the permit-to-completion time has been on an upward trend since 2015. Currently, it is almost 3.
Inman
AUGUST 28, 2024
Reimagine sales, marketing and instruction by using digital avatars to bring the human touch to content without the cost, land investment specialist Curtis Williams writes.
George Dell
AUGUST 28, 2024
Pick comps, make adjustments are the “recognized methods and techniques” which must be “correctly” used by appraisers. Originally, the practice was just “find comps and reconcile.” Some hundred years ago, the main task of an appraiser (usually also the local broker) was to track down sales. This involved phone calls to agents, people they knew, […] The post What, No Adjustments?
Inman
AUGUST 28, 2024
James Kaminsky, a former Realtor.com editor accused of taking trade secrets with him to CoStar, transferred access to at least 40 documents two days before he left the job, according to legal filings.
Eyes on Housing
AUGUST 28, 2024
Home price growth continues to decelerate, according to the recent release of the S&P CoreLogic Case-Shiller Home Price Index (HPI). The S&P CoreLogic Case-Shiller HPI increased at a seasonally adjusted annual rate of 1.89% for June 2024, slowing from a revised rate of 3.28% in May. Home prices have not seen an outright decrease since.
Inman
AUGUST 28, 2024
The case is part of a long-running legal battle between Davis, an ex-CEO of Keller Williams, and his former employer. An earlier case Davis filed against KW was also ordered into arbitration.
BiggerPockets
AUGUST 28, 2024
As autumn approaches, new investors should take advantage of seasonal trends to get into these five markets.
Inman
AUGUST 28, 2024
According to Redfin, the typical U.S. homebuyer’s down payment hit the highest level in over a decade, at 18.6 percent of the purchase price in June, up from 15 percent the previous year.
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