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.

Investing 384

Investing Mortgage Technology Marketing 384

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.

Supply Chain 374

Supply Chain Construction Inventory Appraisal 374

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.

Design 323

Design Realtors Finance Mortgage 323

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.

Buyers 339

Buyers Mortgage Realtors Inventory 339

Housing Wire

NOVEMBER 12, 2024

Weichert Realtors has taken a page from eXp World Holdings and settled the commission lawsuits — but with the Hooper (formerly Phillips ) plaintiffs rather than with the Gibson plaintiffs. According to documents filed in the Gibson suit last week, Weichert reached a settlement with the Hooper plaintiffs on Nov. 5. The brokerage is asking the court to stay proceedings as they pertain to Weichert in the Gibson suit, pending its settlement.

Realtors 263

Realtors Brokerage Realty Real Estate 263

Appraisal Buzz

NOVEMBER 12, 2024

The median asking rent in the U.S. increased by just 0.2% year-over-year to $1,619 in October, according to new Redfin data. Month-over-month, overall rents decreased by 0.6%. Due to a development boom in some Sun Belt states brought on by a spike in demand during the epidemic, rents have stayed relatively stable over the last two years. However, rental markets may fluctuate greatly depending on where you reside in the nation; in some metro areas, asking rents are increasing by double digits, wh

Development 338

Development Construction Marketing Appraisal 338

Appraisal Buzz

NOVEMBER 12, 2024

This piece originally appeared in the November 2024 edition of MortgagePoint magazine, online now. Most people who have financed a home purchase probably wish the process was less stressful. But if there ever was one type of homebuyer who needed an easier, less complicated loan process, it is someone who actively serves in the U.S. military. Unfortunately, those who have sacrificed the most to protect the American Dream for millions of others often find it more difficult to access their share

Technology 221

Technology Modernization Finance Architecture 221

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.

Housing Market 245

Housing Market Marketing Retail Home Improvement 245

Appraisal Buzz

NOVEMBER 12, 2024

Despite a September interest rate cut by the Federal Reserve , the average 30-year mortgage rate has been on the rise during Q4—continued high rates, combined with steadily rising housing prices , have put a strain on mortgage customers, according to the latest J.D. Power 2024 U.S. Mortgage Origination Satisfaction Study. Some lenders have managed to turn those challenges into an opportunity to play a more direct advisory role with customers, earning praise from customers along the mortgage proc

Mortgage 221

Mortgage Lending Retail Finance 221

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.

Modernization 235

Modernization Mortgage Design Advertising 235

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.

Mortgage 195

Mortgage Lending Clients Buyers 195

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).

Finance 206

Finance Mortgage Insurance Investing 206

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.

Finance 195

Finance Buyers Mortgage Appraisal 195

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.

Legal 206

Legal Real Estate Law Clients 206

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.

Finance 228

Finance Buyers Agents 228

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.

Realtors 197

Realtors Human Resources Legal Real Estate 197

Inman

NOVEMBER 12, 2024

Carl Medford analyzes the new Opportunity Report to see what it means for organized real estate, state regulatory agencies and key stakeholders in the second part of his series.

Real Estate 166

Real Estate Realtors Brokerage Agents 166

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.

Brokerage 187

Brokerage Realty Business Development 187

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.

Finance 157

Finance 157

Inman

NOVEMBER 12, 2024

Secret profits, deceitful acts or undisclosed compensation by Realtors could lead to action from multiple enforcement bodies, including NAR, MLSs and state regulators, Summer Goralik writes.

Realtors 148

Realtors Buyers Brokerage Agents 148

Real Estate News

NOVEMBER 12, 2024

Hitt had been with the Germany-based luxury franchisor since 2010. Chief Strategy Officer Stuart Siegel will serve as interim CEO.

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147

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.

Open Houses 139

Open Houses Agents Realtors Buyers 139

GoForrmz

NOVEMBER 12, 2024

Digitally transform your retail operations today In the retail industry, staying efficient, cost-effective, and responsive to customer needs is essential to staying competitive. Retail businesses rely on various documentation — from an inventory list to a weekly timesheet template. However traditional paper processes can be a costly burden on budgets and resources.

Retail 78

Retail Human Resources Inventory Transportation 78

Inman

NOVEMBER 12, 2024

Compass Resort aims to provide referrals, collaboration and other resources to agents who work with clients focused on vacation properties and secondary homes.

Agents 150

Agents Clients Brokerage 150

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.

Investing 67

Investing Real Estate Finance Tools 67

Inman

NOVEMBER 12, 2024

In the wake of the National Association of Realtors' 3-month-old rule change, executives are reassessing agent pay amid pressure on commissions, an analysis of Q3 earnings data shows.

Realtors 139

Realtors Agents Technology Brokerage 139

Mortgagebroker News

NOVEMBER 12, 2024

Industry veteran to lead real estate association in advancing property management standards

Property Management 57

Property Management Real Estate 57

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.

Investing 136

Investing Mortgage Tools Buyers 136

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.

Property Taxes 36

Property Taxes Landlords Insurance Buyers 36

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.

Brokerage 144

Brokerage Real Estate Marketing 144

Mortgagebroker News

NOVEMBER 12, 2024

Q3 results highlight growth in mortgage originations and key investment returns

Mortgage 53

Mortgage Investing 53

Inman

NOVEMBER 12, 2024

Approved handily, the proposal was one of 11 from NAR's Culture Transformation Commission, a group founded a year ago in the wake of accusations of harassment, intimidation and retaliation.

Training 123

Training Human Resources Realtors 123

BiggerPockets

NOVEMBER 12, 2024

Is paying off debt or investing (and potentially using more debt) the best way to reach FIRE?

Investing 41

Investing Mortgage 41

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.

Buyers 120

Buyers Agents Home Value Design 120