Appraisal Buzz
NOVEMBER 12, 2024
According to the National Association of Realtors ‘ (NAR) most recent quarterly report, home prices increased in about 90% of metro markets (196 out of 226, or 87%) during Q3 of 2024, while the 30-year fixed mortgage rate varied between 6.08% and 6.95%. Compared to 13% in Q2, just 7% of the 226 metro regions under study saw double-digit price increases within the same time frame.
Housing Wire
NOVEMBER 12, 2024
As 2025 approaches, state-funded down payment assistance (DPA) programs are helping veterans , service members and surviving spouses achieve their dreams of homeownership. This comes from a new survey by Down Payment Resource — a nationwide database designed to connect prospective homebuyers to financial assistance opportunities. The study analyzed DPA programs from more than 1,300 housing finance agencies, municipalities, nonprofits and other organizations.
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Appraisal Buzz
NOVEMBER 12, 2024
As the typical purchase price for a home remains at an all-time high , so does the cost of caring for one. According to the Q3 Home Care Price Index (wherein analysts at home-services provider Thumbtack estimate the yearly expense to maintain a single-family house), homeowners today average an annual $10,433 for their property’s upkeep. That represents a 5.9% increase compared to last year’s third quarter.
Housing Wire
NOVEMBER 12, 2024
Home Depot raised its fiscal outlook after strong third-quarter 2024 sales, driven by demand for seasonal goods and hurricane preparation in the Southeast. The world’s largest home improvement retailer and fourth-largest U.S. retailer by market capitalization reported $40.2 billion in sales for the quarter ending Oct. 27. That exceeded analysts’ projections of $39.31 billion.
Real Estate News
NOVEMBER 12, 2024
Inexperienced buyers have a lot of questions — about financing, buyer agreements, resources for first-timers and more — and agents need to have the answers.
Housing Wire
NOVEMBER 12, 2024
Digital mortgage exchange platform and loan aggregator MAXEX announced on Tuesday the hiring of mortgage technology veteran Daniel Wallace as its new chief operating officer. Wallace brings more than 30 years of experience as a leader of tech-focused mortgage, asset management and capital market platforms. Bill Decker, MAXEX president and co-founder, highlighted Wallace’s expertise in mortgage technology as a valuable asset for the company. “Dan Wallace is exceptionally well qualifie
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Housing Wire
NOVEMBER 12, 2024
Cornerstone Financing , a venture co-founded by former Reverse Mortgage Funding (RMF) CEO Craig Corn, has secured $285 million in financing through global investment firms Aquiline Capital Partners LP and Nomura. The funding will go to support the company’s specialty home equity-tapping product known as the Cornerstone Home Equity Insurance/Investment Funding Solutions (CHEIFS).
Appraisal Buzz
NOVEMBER 12, 2024
Mortgage lenders that advise borrowers throughout the home buying process are reaping higher customer satisfaction scores, a report from J.D. Power shows. By serving in a more hands-on advisory role with customers, some lenders are earning higher marks for customer satisfaction, despite the challenging environment, according to the market research firm.
Housing Wire
NOVEMBER 12, 2024
Finance of America (FOA), the leading reverse mortgage lender, presented a robust outlook last week in its third-quarter 2024 earnings and is aiming to hit the ground running with business in 2025. While the reverse industry has faced unique headwinds over the past couple of years, the company is seeking to build on the momentum provided by its HomeSafe Second proprietary product.
Appraisal Buzz
NOVEMBER 12, 2024
Purchase lock volume increased 12% in October compared with September, according to Optimal Blue’s Market Advantage data report. The increase came despite rising rates and was due mainly to pent-up demand, the secondary marketing software firm says. The report also shows a notable shift away from conforming loans, indicating affordability concerns are pushing buyers toward alternative financing options.
Housing Wire
NOVEMBER 12, 2024
It appears that Howard Hanna Real Estate Services ‘ reprieve from the Moratis commission lawsuit — formerly known as the Spring Way suit — will be short-lived. Last week, the plaintiffs in the suit filed a notice of appeal of a lower court’s decision to dismiss both Howard Hanna and West Penn MLS from the suit with prejudice. The appeal was filed with the Third Circuit Court of Appeals.
Inman
NOVEMBER 12, 2024
Contracts law professor Tanya Monestier, an objector in the NAR settlement, described Judge Stephen Bough's order compelling objectors to appear in person as a "glaring appellate issue.
Housing Wire
NOVEMBER 12, 2024
Detroit-based Rocket Companies , the parent of Rocket Mortgage , saw its strategy of investing in technology and expanding its servicing portfolio start to pay off in the third quarter of 2024. It originated $28.5 billion in loans during the period — up 28% year over year. Short-lived relief in mortgage rates led to a double-digit increase in mortgage production and gains in market share during the period, executives said.
Eyes on Housing
NOVEMBER 12, 2024
Total outstanding U.S. consumer debt stood at $5.10 trillion for the third quarter of 2024, increasing at an annualized rate of 3.28% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. In general, consumer debt has been slowing over the past two years, peaking at a high rate of 9.16% in the second.
Housing Wire
NOVEMBER 12, 2024
For Nykia Wright , CEO of the National Association of Realtors , 2025 is going to be all about turning NAR into a trade association for the future while rebuilding relationships with members. “NAR is really focused on rebuilding the association for today and tomorrow,” Wright told NAR members gathered in Boston Monday for the trade group’s board of directors’ meeting at the conclusion of the NAR NXT conference.
Inman
NOVEMBER 12, 2024
NAR's board of directors and Executive Committee voted on a slew of proposals at NXT on Monday. But it was one involving NAR's counterpart to the north that drew the most discussion.
Housing Wire
NOVEMBER 12, 2024
Anthony Hitt is stepping down as the president and CEO of Engel & Völkers Americas. The brokerage firm announced Tuesday that Hitt will be stepping down from his leadership roles at the end of 2024 in order to “focus on personal endeavors.” Hitt began his career at Engel & Völkers Americas in 2010 and has served as the firm’s CEO and president since 2013.
Inman
NOVEMBER 12, 2024
Sitting an open house for a listing agent is a "golden opportunity" to generate leads and practice your home-showing skills with potential buyers, Realtor Jonathan Pressman writes.
Eppraisal
NOVEMBER 12, 2024
As the real estate landscape evolves in 2024, many individuals and families find themselves weighing the costs and benefits of buying a home versus renting. With fluctuating home prices, rising interest rates, and changing economic conditions, making the right decision can be challenging. Let's explores the key factors involved in comparing the costs of buying and renting in today's market.
Inman
NOVEMBER 12, 2024
Survey finds lenders that have remained staffed up and invested in digital processes that streamline the mortgage process are crushing their competitors on customer satisfaction.
Mortgagebroker News
NOVEMBER 12, 2024
Q3 results highlight growth in mortgage originations and key investment returns
Inman
NOVEMBER 12, 2024
Looking beyond paper writedowns in the fair value of its mortgage servicing rights, CEO Varun Krishna is pleased as Q3 mortgage originations climb 28 percent from a year ago.
Mortgagebroker News
NOVEMBER 12, 2024
The seventh annual Top Mortgage Employers closes this week
Inman
NOVEMBER 12, 2024
Bringing the focus back to the local level isn't just good for your real estate business, trainer Bernice Ross writes. It's good for healing the political divisions exacerbated by this year's election.
Property Metrics
NOVEMBER 12, 2024
The XIRR formula, included with Excel and other spreadsheet programs, is commonly used in to measure investment performance in commercial real estate. The XIRR formula is popular because, unlike the IRR function, XIRR can handle irregular cash flow patterns. However, although XIRR is widely used, it is also widely misunderstood. In this article, we will take a deep dive into the XIRR formula and build an understanding of how it works from the ground up.
Inman
NOVEMBER 12, 2024
Corcoran The Baja Real Estate Co., owned and led by Blake Harrington, has joined the brokerage's network and will serve the greater Cabo San Lucas market.
Mortgagebroker News
NOVEMBER 12, 2024
CEO addresses changing office occupancy patterns
Inman
NOVEMBER 12, 2024
Florida-based community bank sells its Houston branches to MidFirst Bank, but growing mortgage subsidiary Amerant Mortgage has a presence in most states.
Mortgagebroker News
NOVEMBER 12, 2024
Calgary-based fintech expands financial services with backing from top tech leaders
Inman
NOVEMBER 12, 2024
Sam DeLay and Cole Billings led the No. 2 team in Bend for volume among medium teams and No. 1 for sides with 112 last year. They're launching their brokerage on the Side platform.
BiggerPockets
NOVEMBER 12, 2024
Is paying off debt or investing (and potentially using more debt) the best way to reach FIRE?
Inman
NOVEMBER 12, 2024
Stuart Siegel, the Americas chief strategy officer, will serve as interim president and CEO until a permanent replacement has been found for Hitt, who has served with the luxury brand since 2010.
Mortgagebroker News
NOVEMBER 12, 2024
Industry veteran to lead real estate association in advancing property management standards
Inman
NOVEMBER 12, 2024
While a new coat of paint can transform a home, it can also work against you if the colors don’t resonate with potential buyers. According to a report from Fixr, the 2024 paint color trends are in, and listing agents are weighing in on how certain hues can impact a home’s value.
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