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The recent settlement involving the National Association of Realtors and major real estate firms revolves around the practice of “broker cooperation,” where agents representing sellers share commissions with agents representing buyers. Proponents of the lawsuits argue that this customary practice inflates commissions , and believe that buyers and sellers should pay their agent representation separately.
This article is featured in the 2023 edition of the Appraisal Buzz Magazine. Some other features we have in our magazine include funny Buzztoon comics, as well as crazy stories from appraisers and readers like you! Read all these articles and more in the latest edition HERE. If you want to make sure you are receiving the print version of the Appraisal Buzz magazine in your mailbox, sign up HERE.
Everyone knows it’s been a very dry 18 months for home sales. As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. At the same time, seller volume dried up. But now sellers are coming back into the market. New listing volume last week was 18% more than a year ago. Total available inventory is gradually climbing about 1% per week — last year it was still declining in April.
The CEO of NextHome, founder of Rayse and co-host of an “unfiltered’ podcast isn’t shy about sharing his thoughts on the agent value prop, tech and NAR.
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.
Mortgage rate buydowns and a limited supply of existing homes have buoyed housing demand for many months despite elevated interest rates. As home prices rose steadily, homeowners also accumulated significant equity. The typical homeowner who purchased a median-priced home in January 2020, assuming a 10% down payment and the prevailing 30-year fixed mortgage rate at that time, has received a $208,000 boost in net worth, according to a report from John Burns Research & Consulting.
The firm argues that existing settlements in Sitzer/Burnett need to be finalized before a judgment can be made — and that won’t be an “uncontroversial” process.
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The firm argues that existing settlements in Sitzer/Burnett need to be finalized before a judgment can be made — and that won’t be an “uncontroversial” process.
A new class-action lawsuit was filed by a former agent against real estate brokerage Keller Williams (KW), contesting alterations made to the company’s profit-sharing program. There are now a total of five class-action lawsuits against KW challenging the company’s profit-sharing program adjustments. Earlier in March, four agents formerly affiliated with Keller Williams — Jerri L.
CMLS is the latest organization to weigh in on the Massachetts case, while a dispute with the DOJ could shed light on the fate of compensation rules nationally.
“What if homeowners could tap into home equity without taking on debt?” When Hometap launched in 2017, the Boston-based fintech offered an unorthodox answer to this question for homeowners looking for an alternative to a loan. Through a home equity investment, homeowners can receive cash upfront in exchange for a share of the home’s future value. In return, Hometap gets an agreed-upon percentage of the sale price or appraised value within a 10-year period.
Some think the National Association of Realtors' $418 million settlement will prompt more homebuyers to transact without agents. Inman asked industry professionals how they'll handle that situation.
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.
A federal judge in Texas has granted a preliminary injunction to banking trade groups that seek to halt the implementation of new rules for modernizing the Community Reinvestment Act (CRA), according to court documents reviewed by HousingWire. Judge Matthew Kacsmaryk sided with organizations including the American Bankers Association (ABA), the U.S.
HousingWire has partnered with New Hampshire Association of Realtors (NHAR) to bring original data, analytics and news to its members who are the voice for real estate in the state. Opportunities are revealed when housing leaders have an industry-spanning, deeply informed perspective, which is made possible through HousingWire insights that members can make decisions on.
Faced with higher mortgage rates and rising home prices, homebuyers made larger down payments in February, with the median down payment rising to $55,640, up 24.1% from $44,850 in February 2023, according to Redfin. That’s the largest annual increase in percentage terms since April 2022, the firm says. The typical homebuyer’s down payment in February was equal to 15% of the purchase price, up from 10% a year earlier, the firm’s analysis reveals.
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.
Today’s unique market requires flexibility and a pricing engine that empowers lenders and their loan officers to put the right loan products in front of borrowers. HousingWire spoke with Parvesh Sahi, chief revenue officer of Polly , about the importance of having the right PPE and strategic pillars that facilitate LO success. HousingWire: Let’s jump right in.
The mortgage delinquency rate fell slightly to 2.8% in January, down 0.3 percentage points compared with December and flat compared with January 2023, according to CoreLogic’s Loan Performance Insights Report. Overall, delinquency rates have been hovering at historic lows for well over a year now. Driving low delinquency rates in this current market is the fact that many homeowners are rate-locked into their current mortgages and thus are unlikely to move from their current homes or fall behind
Kentucky is on the brink of ending exclusive real estate listing contracts. The state’s General Assembly passed a bill to protect homebuyers from predatory contracts known as non-title recorded agreements for personal services (NTRAPS) or right-to-list agreements. The practice of right-to-list agreements preys upon homeowners by offering small lump sums of cash in exchange for decades-long contracts for the exclusive rights to sell the property.
While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. In October 2023, the firm — which is known for its “buy before you sell” product that enables a mortgage lender to treat the client’s current home as sold while giving them the ability to sell their home on the open market for up to 90 days after buying their new property — launched a partner channel.
Former NEXA Mortgage president Mat Grella has accused his partner at the firm, Mike Kortas, of making aircraft-related purchases with company money without his consent, resulting in his “abrupt” termination from the company. Kortas denies his partner’s allegations. “I had grown frustrated with our partnership, coupled with Mike’s fixation on aircraft-related purchases.
If approved by shareholders and regulators, the proposed merger would result in an all-cash transaction, with TRG acquiring Doma's outstanding shares at 38 percent premium of $6.29 per share.
In March 2022, reverse mortgage lender and servicer Longbridge Financial announced the launch of its national field sales (NFS) division , appointing reverse mortgage industry veteran Melanie Parks to lead the channel as vice president and national field sales leader. Two years later, the division has proven to be a key player in the business at Longbridge.
The Federal Reserve's preferred inflation gauge moved in the wrong direction last month for the first time since September, but core inflation fell for the 13th consecutive month, to 2.8 percent.
After a series of high-profile challenges faced by senior living facilities in the wake of the COVID-19 pandemic, U.S. senior housing facilities appear poised for a rebound, according to reporting from The Wall Street Journal. Occupancy rates at private-pay senior care facilities are nearing pre-pandemic levels, according to new data from the National Investment Center for Seniors Housing & Care (NIC).
NAHB analysis of Census data shows that private residential construction spending rose 0.7% in February, the third month of gains in a row. It stood at a seasonally adjusted annual pace of $901.1 billion. The monthly increase in total construction spending is attributed to more single-family construction and improvements. Spending on single-family construction rose 1.4%.
Real-estate startups are beset from all sides by existential threats — No. 1 of which is simply this depressed housing market. Four dozen proptech leaders shared their experiences with Intel.
Author and trainer Bernice Ross and Verl Workman, co-founder of Workman Success Systems, discuss the strategies top-producing teams are leaning into now.
A recent post by an appraiser trainee on an online forum described a troubling situation involving the use of ChatGPT to generate content for an appraisal report. The trainee admitted to using ChatGPT to write a market summary section without properly reviewing it first. This resulted in factual inaccuracies making it into the final report delivered to the client.
According to ATTOM Data’s latest Q1 2024 Single-Family Rental Market report, average gross rental yields on three-bedroom single-family homes are projected to rise by 7.55% this year.
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