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

Finance 482

Finance Design 482

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?

Law 397

Law Real Estate Government Realtors 397

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.

Retail 476

Retail Contracts Mortgage Government 476

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.

Real Estate 370

Real Estate Appraisal 370

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.

Brokerage 468

Brokerage Agents Technology Housing Market 468

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.

Real Estate 317

Real Estate 317

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 312

Real Estate Appraisal Valuation Technology 312

Housing Wire

AUGUST 7, 2024

Single-family rental (SFR) investors are worried about the rising cost of home insurance, but the majority expect to buy more properties in the next year as mortgage rates cool and home-price growth subsides. That’s the conclusion from a survey of 235 single-family landlords in late June and early July. The data was released this week by media and research company ResiClub in conjunction with Florida-based private lender LendingOne.

Investors 459

Investors Real Estate Insurance Landlords 459

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.

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Housing Wire

AUGUST 7, 2024

Industry-leading reverse mortgage lender Finance of America (FOA) recorded another loss in the second quarter of 2024, but it managed to move closer to profitability while also expanding its dollar volume of loans through other business metrics that show improvement. This is according to the company’s Q2 2024 financial results, as well as statements given to analysts, during a Q&A portion of its earnings call this week.

Finance 448

Finance Business Lending Investors 448

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.

Agents 290

Agents 290

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 448

Real Estate Agents Business Investors 448

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.

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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,

Brokerage 443

Brokerage Realtors Real Estate Buyers 443

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 Market 284

Housing Market Marketing Mortgage Buyers 284

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.

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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.

Technology 195

Technology Brokerage Agents Marketing 195

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.

Mortgage 195

Mortgage Government Inventory Appraisal 195

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?

Clients 195

Clients Appraisal 195

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.

Insurance 195

Insurance Construction Mortgage Marketing 195

Inman

AUGUST 7, 2024

Choose not to be offended. Have conflict resolution strategies in place. Stay calm, acknowledge the difference in opinions, and move on to other topics, Keller Williams’ Julia Lashay Israel writes.

Agents 192

Agents 192

Appraisal Buzz

AUGUST 7, 2024

Over the past few decades, houses in the United States have grown considerably in size. A newly constructed home’s median size in 1973 was 1,525 square feet. That median was 2,233 square feet by 2023. Even with this additional area, not everyone has an abundance of space. There are still issues with overcrowding in various areas of the nation. According to LendingTree’s most recent study of data from the American Community Survey conducted by the US Census Bureau, approximately 3 million houses

Construction 195

Construction Real Estate Appraisal 195

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.

Mortgage 187

Mortgage Marketing 187

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.

Appraisal 195

Appraisal 195

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.

Mortgage 183

Mortgage Marketing 183

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%.

Housing Market 195

Housing Market Marketing Mortgage Appraisal 195

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.

Law 183

Law Real Estate Buyers Brokerage 183

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

Design 195

Design Business Real Estate Agents 195

Inman

AUGUST 7, 2024

The seven startups that are part of REACH Commercial's latest class each promise to advance the way commercial brokerages service the industry, ranging from a green building resource solution to a pro-small business engine to help entrepreneurs own their real estate.

Brokerage 180

Brokerage Real Estate Business Technology 180

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

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Mortgage Appraisal 195

Eyes on Housing

AUGUST 7, 2024

The share of new single-family homes built in the 1,600-3,000 square-foot range closely matches the share of buyers who want homes of that size, according to recent surveys from NAHB and the U.S. Census Bureau. The surveys show that 21% of buyers want homes with 1,600 to 1,999 square feet, and 22% of new single-family.

Buyers 179

Buyers Construction 179

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.

Real Estate 178

Real Estate Technology Agents Mortgage 178

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.

Real Estate 92

Real Estate 92

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.

Brokerage 178

Brokerage Marketing 178