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I anticipated solid year-over-year home-price growth in today’s existing home sales report, so I’ve tried my best on social media to inform people that we have a low bar in home-price comps for this report and the next one. This is the context for why the home-price growth data was strong, which took some people by surprise. As you can see below, even though home prices rose in 2023, the median sales price showed negative year-over-year growth in April, May and June of last year.
Mortgage application volume increased 1.9% during the week ended May 17, as the average rate for a 30-year- fixed-rate mortgage fell to to 7.01%, down from 7.08% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 7% compared with the previous week and were up 21% compared with the same week one year ago.
Mortgage fraud risk saw a modest uptick toward the end of 2023, according to CoreLogic ’s latest Mortgage Application Fraud Risk Index , although it remained largely stable on a year-over-year basis. The index reached 127 in Q4 2023, marking a 2.7% increase from the previous quarter, but compared to Q4 2022, the index decreased by 1%. Despite these fluctuations, overall risk levels have remained relatively flat.
Today, host Hal Humphreys meets with Jeff Allen, President of CubiCasa. Jeff has been an integral part of the valuation industry for a while, and he gets us up to speed on what his experience has involved. There have been a lot of new changes coming to the valuation space. What are some recent changes happening in valuation technology Where is the future of valuation going, and just how long will it take us to get there?
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.
Unpaid property tax debts are leading to preventable foreclosures , with the greatest impacts on Black and Latino households and older homeowners living on fixed incomes. But if states take proactive measures to reform policies and disclosures around tax foreclosures, this could go a long way to prevent unnecessary home displacements. This is according to a jointly issued brief published this week by the National Consumer Law Center (NCLC), the American Land Title Association (ALTA) and AARP.
Real launches luxury division; Alabama merger ups United's market share; RE/MAX affiliate adds 3 firms; The Agency opens in Niagara; ERA Carroll expands in WY.
Real launches luxury division; Alabama merger ups United's market share; RE/MAX affiliate adds 3 firms; The Agency opens in Niagara; ERA Carroll expands in WY.
Fast-growing firm The Real Brokerage is launching a luxury division , according to an announcement on Wednesday. Real Luxury , as the division will be known, will focus on helping luxury agents and teams, as well as their exclusive clients. The firm said that the launch of Real Luxury is in response to the growing number of luxury real estate agents and teams joining Real.
Comments made by a Department of Veterans Affairs official Tuesday “ensures veterans have the same opportunity as others to compete in a tight housing market.
The data is clear: Older adults, when contemplating future living arrangements, would prefer to remain in their homes as long as feasibly possible. But for those who own homes with features or layouts that may not be conducive to aging in place, some are taking proactive measures — and spending a lot of money — to make their home suitable. This is according to a story published this month by the The Associated Press , which examines steps that some older homeowners are taking to ensure they can
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.
The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac. But the study also shows that top cost-effective retail lenders can produce loans at nearly half the cost of the industry average.
Deputy Director of Policy Michelle Corridon said Tuesday the agency would lift rules preventing vets from using low-cost VA loans to pay agents until it engages in a formal rule-making process.
According to the most recent annual report to Congress by the U.S. Department of Housing and Urban Development (HUD), the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program saw its share of total HECM endorsements in 2023 rise to its highest level since 2019. That’s not saying all that much. H4P endorsements accounted for roughly 6% of the 32,963 HECMs endorsed for Federal Housing Administration (FHA) insurance that fiscal year.
Several months after Kofi Nartey announced his team's move to Real, the brokerage has launched a new luxury division with Nartey serving as executive director.
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.
Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. If you’re still saying minority homeownership, you’re already losing. It’s time to take a hard look at the data. Any player who will be worth their weight in the future understands that the MAJORITY of their business will come from Hispanic and Black home shoppers.
Technology firm Finaya has launched an AI-based homeownership marketplace super-app that integrates home buying and selling, mortgage, insurance, title, closing and other related services supported by a marketplace of on-demand realtors, loan brokers, lenders and service providers. In addition, Finaya has announced a definitive merger and acquisition agreement with Nexme, a real estate app with a distinctive “tour now” capability that lets buyers request home tours on demand, and real estate age
Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. In this engaging panel session, hear directly from top industry leaders as they discuss their strategic responses to the commission lawsuits. This segment moves beyond mere predictions, offering a real-time look at how businesses are navigating these turbulent times.
Tim Whittier has been promoted to president at First Home Mortgage. Whittier first joined First Home Mortgage in 2009. He began his mortgage banking career in 1992 directly out of the University of Maryland. What initially started as just a job where a friend worked has become a lifetime career. Over the years, Whittier has held various positions, including assistant, loan officer, builder manager, branch manager, and regional manager.
Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. Florida Realtors is known for the valuable services they offer members, including a Tech Helpline that is nationwide. Margy Grant will discuss building relationships through trust and transparency, the importance of tailored customer service, determining the needs of the people you serve and delivering top-notch tools to help build
ROV (Reconsideration of Value) is now in the boat. Is it safe? We suspect this will be a long row to get to the chosen island. Just row! It is likely this topic will be the focus of more of our “analog blog” series. To read part one of this series or other blog post […] The post Row Row ROV? Pt 2 appeared first on George Dell, SRA, MAI, ASA, CRE.
Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. Join Abby Lee and Kelly Gill for a candid conversation on the dynamic relationship between LOs and real estate agents, with a focus on how marketing strategies can bolster their collaboration.
The star of "Flip or Flop" talked Tuesday at Inman Connect Miami about how professional hardships, cancer diagnoses and personal hardships paved his road to success.
Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. Kamran is based in Los Angeles and will support Certainty’s strategy and sales performance. “Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement.
Statements made by a DOJ attorney during a May 21 status hearing in the Nosalek commission case offer new insights into the Justice Department's impression of the proposed NAR settlement.
Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. The promises of the 2018 housing industry aren’t the promises of today. That hot tech thing or product that you had to have in 2018? Nobody’s talking about that anymore. And more importantly, if you haven’t moved on or committed to contracts that are too rooted in the past, chances are your P&L statement isn’t looking so great.
"Mauricio, you are a scum bag," Umansky recalled the Frasier actor shouting in a voice message. The Agency CEO shared how he converted Grammer during Inman Connect Miami on Wednesday.
From waiving inspections and financing contingencies, to free leasebacks and uncapped escalation clauses, real estate agents say that buyers in Rhode Island are willing to do almost anything to get into a house right now. “It is really frenetic,” said Rachael Dotson , a Rhode Island-based agent for Residential Properties Ltd. “People who really need to get into even a starter home are willing to extend themselves with offers in order to be successful.
Existing home sales fell for the second straight month in April, after a big monthly drop in March, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory and strong demand continued to drive up existing home prices, marking the tenth consecutive month of year-over-year median sales price gains. Due to elevated interest.
In real estate, where every detail counts, AI can be the tool that sets you apart, Chris Pollinger writes. ChatGPT's new update allows you to do more than ever before.
Homes at the higher end of the market — priced at $1 million or more — enjoyed the spoils with inventory and sales rising by double digits from a year ago, according data released Wednesday by NAR.
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