Housing Wire
AUGUST 7, 2024
The Real Brokerage isn’t tapping the brakes on its rapid expansion. During its second-quarter 2024 earnings call on Wednesday, the company said it added almost 3,000 agents from April through June, a 70% year-over-year rise and a 250% increase compared to Q2 2022. The ballooning agent count pushed brokerage revenue to $340 million, an 84% year-over-year improvement.
Appraisal Buzz
AUGUST 7, 2024
A coalition of six industry and consumer trade groups have united to issue a new brief with recommendations on how to help combat the rise in deed fraud. According to the Federal Trade Commission (FTC) , fraud losses in 2023 cost U.S. consumers more than $10 billion, of which, $2.7 billion is attributed to imposter scams. Groups contributing to the “ What Is Deed Fraud?
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Housing Wire
AUGUST 7, 2024
More households led by older Americans who are either in or near retirement are carrying higher levels of debt. This has major implications for the nation’s retirement readiness posture, according to an issue brief published last week by the Employee Benefit Research Institute (EBRI). “While improving in many respects in the most recent years, the overall trends in debt are troubling in terms of retirement preparedness, in that American families just reaching retirement or those newly retired ar
Appraisal Buzz
AUGUST 7, 2024
Tampa has emerged as the most desirable city in the United States, with Florida being the most sought-after state, according to a recent survey by Clever Real Estate. The St. Louis-based real estate company surveyed 1,000 Americans to determine the best and worst places to live in the country. Nearly a quarter of the respondents (23%) listed Tampa among their top five cities to live in.
Housing Wire
AUGUST 7, 2024
Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. — found that the seasonally adjusted refinance index increased 16% for the week ending Aug. 2 compared to the previous week.
Real Estate News
AUGUST 7, 2024
Barton and Jeremy Wacksman speak exclusively with Real Estate News about the leadership transition at the top of the influential home-search site.
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Appraisal Buzz
AUGUST 7, 2024
The general lack of affordability is still holding down consumer sentiment toward the housing market, as evidenced by the July decline of 1.1 points in the Fannie Mae Home Purchase Sentiment Index (HPSI) to 71.5. This month, just 17% of consumers said they thought it was a good time to buy a house, down from 19% in June, and 66% said they thought it was a good time to sell.
Housing Wire
AUGUST 7, 2024
Zillow Group has promoted Jeremy Wacksman from chief operating officer to CEO, according to an announcement on Wednesday. The firm made the announcement less than an hour before its second-quarter 2024 earnings call with investors and analysts. In addition to being named as the firm’s CEO, Wacksman has also joined the company’s board of directors. Wacksman is replacing Zillow co-founder Rich Barton as CEO.
Real Estate News
AUGUST 7, 2024
The company reported strong Q2 numbers, noting that its rev share model and tech will continue to give it an edge, while “traditional models may struggle.
Housing Wire
AUGUST 7, 2024
A little over a month after the Batton 2 commission lawsuit defendants filed motions to dismiss the suit brought by homebuyers in Illinois, the plaintiffs have shot back. In responses filed on Monday, the plaintiffs argue that the court should not grant the defendants’ motions. The motions filed by Compass , eXp World Holdings , Redfin , Weichert Realtors and United Real Estate claim that the homebuyer plaintiffs are simply trying “to parrot the allegations they made in an amended complaint,
Appraisal Buzz
AUGUST 7, 2024
Today on the Buzzcast, we welcome back Jeff Hogan, SRA, AI-RRS, Senior Vice President of Valuations and Chief Appraiser for Valligent. It’s been almost two years since Jeff last joined us, and a lot has changed since then. In this episode, we explore how advancements in technology are impacting the appraisal field. Jeff provides insights into how the role of appraisers might evolve, and discusses innovations on the horizon that could further blend human expertise with machine efficiency.
Real Estate News
AUGUST 7, 2024
Watch the conversation with NAR’s top lobbyist as she discusses what advocacy really means for members and some of the big wins the association has achieved.
Appraisal Buzz
AUGUST 7, 2024
Mortgage application volume jumped 6.9% during the week ended August 2 as the average rate for a 30-year based on closings decreased to 6.55%, down from 6.82% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 16% compared with the previous week and were up 59% compared with the same week one year ago.
George Dell
AUGUST 7, 2024
It’s easier to get paid if your service provides a real value. Old expectations, or new client expectations? Are you an “old way” appraiser? — or a “new way” appraiser? To see yourself, it may be good to observe what real value our appraisal customers want. The Old Way: Appraisal meant the customer had to […] The post Get Paid?
Appraisal Buzz
AUGUST 7, 2024
The number of renter households in the United States increased by 1.9% year-over-year in the second quarter, reaching a record 45.2 million, according to a new report from Redfin. This growth rate is more than three times that of homeowner households, which grew by only 0.6% to a record 86.3 million. The data, sourced from a Redfin analysis of U.S.
Real Estate News
AUGUST 7, 2024
The latest sentiment survey from Fannie Mae shows declining optimism, with more consumers now saying they plan to rent when they make their next move.
Appraisal Buzz
AUGUST 7, 2024
Nearly one in five house hunters (17.3%) are willing to sacrifice their physical safety to find a home they can afford within the next year, according to a survey conducted for Redfin. Nearly one in four (23.7%) Gen Z respondents say they are willing to live somewhere less safe for the right price, compared to 18.1% of millennials and 17.5% of Gen Xers.
Real Estate News
AUGUST 7, 2024
Revenue was up 13% in Q2, and the company — now with a new CEO — said it's in a strong position: “We have the most customers, we work with the best partners.
Appraisal Buzz
AUGUST 7, 2024
Consumer confidence in the housing market decreased slightly in July compared with June but was up 4.7 points compared with July 2023, as per Fannie Mae’s Home Purchase Sentiment Index (HPSI), a national monthly consumer survey. The percentage of survey respondents who say it is a good time to buy a home decreased from 19% to 17%, while the percentage who say it is a bad time to buy increased from 81% to 82%.
Inman
AUGUST 7, 2024
After five years back at the helm, Zillow Group co-founder Rich Barton steps down as CEO. Former COO Jeremy Wacksman takes the reins as the company charges past what Barton calls the "Portal 1.0" experience.
Appraisal Buzz
AUGUST 7, 2024
Jeremy Wacksman is the new CEO of Zillow Group. Wacksman had been serving as chief operating officer. He has also been appointed to the company’s board of directors. Wacksman succeeds co-founder Rich Barton, who remains on the board of directors and becomes co-executive chair alongside co-founder and current executive chairman, Lloyd Frink. Wacksman joined Zillow from Microsoft in 2009 and has earned multiple promotions since, including as a product leader, chief marketing officer and, for the p
Inman
AUGUST 7, 2024
Fannie Mae survey shows would-be homebuyers grew even more frustrated with elevated home prices and mortgage rates in July, but 7 in 10 didn't think mortgage rates would come down.
Appraisal Buzz
AUGUST 7, 2024
Mortgage lenders – including banks, savings associations, credit unions, and mortgage companies – made progress in terms of boosting the share of loans to Black, Hispanic and Asian borrowers in 2023, according to data collected in the Home Mortgage Disclosure Act (HMDA) database. In terms of borrower race and ethnicity, the share of closed-end home purchase loans for first lien, one- to four-family, site-built, owner-occupied properties made to Black or African American borrowers rose slightly f
Inman
AUGUST 7, 2024
The cloud-based brokerage saw surprisingly positive second-quarter earnings results during a tough market. Real chairman and CEO Tamir Poleg said the results were a testament to the firm's business model.
Eyes on Housing
AUGUST 7, 2024
The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, saw a slight month-over-month decline of 0.8% on a seasonally adjusted (SA) basis; compared to July 2023, the index increased by 0.5%. The Purchase Index declined by 4.8%, while the Refinance Index increased by 5.8%, month-over-month.
Inman
AUGUST 7, 2024
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again.
Lamacchia Realty
AUGUST 7, 2024
August 7 th – At the Greater Boston Association of REALTORS® Annual Awards & Networking Breakfast at Venezia Waterfront Restaurant in Boston , Anthony Lamacchia was named 2024 REALTOR® of the Year. The Greater Boston Association of REALTORS® (GBAR) “ honors their members for their hard work and dedication to the real estate profession” during this event with six awards.
Inman
AUGUST 7, 2024
Parent company of Howard Hanna Real Estate Services argues plaintiff agreed to a mediation clause and, as a buyer, doesn't have standing to sue under federal and state antitrust laws.
BiggerPockets
AUGUST 7, 2024
According to Q2 data, about half of U.S. households are "equity-rich," with the biggest gains in the South and Midwest.
Inman
AUGUST 7, 2024
Better-than-expected residential segment results bolstered Seattle-based portal Zillow's Q2 performance, which saw growing revenues and slimming losses as they zero in on creating a 'fully-integrated' homebuying experience.
BiggerPockets
AUGUST 7, 2024
Strict building codes have made it challenging to build quickly and efficiently throughout the country. We list six ways they've impacted the housing crisis.
Inman
AUGUST 7, 2024
The company's improved financial results no doubt came as a sigh of relief, as Elliman faced increasing pressure from shareholders in recent months because of its shaky performance over the past few quarters.
Lamacchia Realty
AUGUST 7, 2024
Our Very Own REALTOR®, Joselin Malkhasian, Featured in Boston Globe Article We are thrilled to announce that Joselin Malkhasian , has been featured in a new publication by the Boston Globe. The article, titled “The median home price here is edging toward $1m. Sorry, it’s going to cost you a lot more than that,” highlights Joselin as a knowledgeable and influential voice in the real estate industry.
Inman
AUGUST 7, 2024
Households have deferred moving, partially due to high "hidden" homeownership costs such as property taxes, insurance and climate change, according to a report.
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