Housing Wire
DECEMBER 22, 2023
New home sales missed sales estimates , but the builders’ stocks have been roaring higher. What gives? There are two key things to remember before I go into the report’s details. Mortgage rates rising to 8% in October impacted the data line, which I spoke about on CNBC recently. Also, new home sales are notorious for big positive and negative prints that tend to get revised.
Real Estate News
DECEMBER 22, 2023
Jay Thompson's 3 essentials for landing at the right firm: Define your needs, understand the different brokerage models, and go deep during interviews.
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Housing Wire
DECEMBER 22, 2023
New home sales fell month-over-month in November to their lowest level since last November. But despite this dip, 2023 is poised to be one of homebuilders’ busiest years. Total new home sales are expected to reach about 5% higher than last year, while sales of existing homes are down by nearly 20% year-over-year. In November, new home sales reached a seasonally adjusted annual rate of 590,000, according to data published on Friday by the U.S.
Inman
DECEMBER 22, 2023
Illinois-based Dovenmuehle Mortgage, which collects monthly payments from homeowners in all 50 states on behalf of lenders and investors, says it's cutting HQ staff but not closing down.
Housing Wire
DECEMBER 22, 2023
The year ahead promises to offer the housing industry some relief, compared with a grueling 2023, but it is likely to be only a small bounce forward toward a healthier market. The housing industry, including the secondary market it feeds, is still likely to be sluggish in 2024, with marginal improvements in some sectors as others tread water or retreat slightly, industry players who spoke with HousingWire predict.
Inman
DECEMBER 22, 2023
Colony Ridge, the developer of more than 40,000 lots northeast of Houston, says its clients have no opportunity to get a loan from anyone else and dismisses federal lawsuit as baseless.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
DECEMBER 22, 2023
Two days after being hit by a cyberattack, the title insurance giant says it's still trying to restore operations and warns clients that it's taken its email system offline.
Housing Wire
DECEMBER 22, 2023
Facing a challenging housing market can be daunting for agents and loan officers alike. As industry professionals grapple with uncertainties, market shifts and evolving dynamics, the key to thriving lies not only in adapting to change but also in embracing it as an opportunity for growth. I’ve seen every market shift imaginable as an agent, team leader and executive in the brokerage , mortgage and proptech space.
Inman
DECEMBER 22, 2023
According to Realtor Trina Gonzales-Van, additional fees to buyers, especially in marginalized communities, has the potential to create more barriers to homeownership.
Housing Wire
DECEMBER 22, 2023
Wilmington, North Carolina -based Cape Fear Realtors has appointed an interim CEO. Janet Kane will take the helm at the 3,500-member strong Realtor association starting on Jan. 2, 2024, according to an announcement on Thursday. “Engaging leadership, staff, and stakeholders and ensuring they feel supported, valued, and connected has always been a top priority for me as a leader and is the key to success,” Kane said in a statement.
Inman
DECEMBER 22, 2023
AsterKey is a fintech app with real estate applications, the most notable being its ability to produce a secure, verified proof of funds letter while greatly minimizing the risk of exposure or fraud.
Housing Wire
DECEMBER 22, 2023
Williston Financial Group is closing out 2023 with yet another acquisition. The firm announced Thursday that MyHome , a WFG subsidiary, has acquired technology and marketing services provider Volly. The financial terms of the deal were not disclosed. “Since inception, both WFG and MyHome have been dedicated to providing transparency and empowerment to all mortgage transaction participants,” Steve Ozonian , the CEO and president of WFG, said in a statement.
Inman
DECEMBER 22, 2023
If you truly want to have your best year ever in 2024, writes Jimmy Burgess, develop your plan of action and execute on your plan. Here's his blueprint for the new year.
Eyes on Housing
DECEMBER 22, 2023
Elevated mortgage rates acted as a drag on new home sales in November, but with the economy now apparently past peak interest rates for this cycle, sales are expected to rise as we move into the new year. Sales of newly built, single-family homes in November fell 12.2% to a 590,000 seasonally adjusted annual rate, according to newly released data.
Inman
DECEMBER 22, 2023
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
Appraiserblogs
DECEMBER 22, 2023
“Well, I guess no one will be doing appraisals in New Jersey… or maybe the standard fee is going to be $10,000?” said one appraiser. The bill proposed by New Jersey Senate lawmakers to create steep penalties for real estate appraisers who undervalue homes because of the owner or buyer’s protected characteristics has been met with both praise and criticism.
Inman
DECEMBER 22, 2023
Sales of newly built single-family homes fell 12.2 percent between October and November to an annual rate of 590,000, but lower interest rates may bring relief.
DW Slater Company
DECEMBER 22, 2023
As we’re getting ready to say goodbye to 2023 and welcome 2024, we wanted to wish each of you a very Merry Christmas and a Happy New Year! 2023 recap: This year, we saw many changes in the real estate market. The rising mortgage rates slowed down the real estate market considerably. This year marks the first year in over a decade that we show a decline in YoY median pricing.
Inman
DECEMBER 22, 2023
Alexandra Newman, MaryElizabeth Smith and Amit Golriz have left Corcoran to start a new mega team at SERHANT. with four additional Corcoran agents making the move with them.
BiggerPockets
DECEMBER 22, 2023
The NACA Mortgage program helps thousands of people purchase homes every year. They offer below-market mortgage rates and financial counseling programs to help more people take advantage of homeownership.
Inman
DECEMBER 22, 2023
Challenging times are not a signal to retreat but an invitation to innovate and explore new avenues, writes The Agency President Rainy Hake Austin. Embrace the learning opportunities they bring.
BiggerPockets
DECEMBER 22, 2023
A ground lease can be a good option for landlords or property owners who want prime locations, but not understanding what a ground lease is and how it works can be detrimental.
Mortgagebroker News
DECEMBER 22, 2023
Mortgage brokerage expands services to the country's capital
BiggerPockets
DECEMBER 22, 2023
Owning a property doesn't mean you automatically have rights to it. If someone can claim they've squatted on the property for many years and you did nothing about it, they may take possession of it with adverse possession laws.
Appraisal Today
DECEMBER 22, 2023
How to Account for a Superadequacy By: McKissock Excerpts: What is superadequacy? Per The Dictionary of Real Estate Appraisal, 6th Ed., superadequacy is defined as “an excess in the capacity or quality of a structure or structural component; determined by market standards.” It’s a type of functional obsolescence in which the structure or one of its components is overly improved to a capacity or quality than a prudent buyer or owner would build or pay.
BiggerPockets
DECEMBER 22, 2023
A rent-to-own home is a home renters lease with the option to purchase it after a specified period. The own part of the contract usually has a two- to-four-year timeline, and the lease part typically requires higher rent than the market rental rate.
Mortgagebroker News
DECEMBER 22, 2023
It's the time of year – to say thank you!
BiggerPockets
DECEMBER 22, 2023
If you don’t meet the loan terms you agreed to when you closed on your mortgage, you are in mortgage default. The most common way is to miss your monthly principal and interest payments.
Mortgagebroker News
DECEMBER 22, 2023
What is the impact of November sales on the economy?
BiggerPockets
DECEMBER 22, 2023
When done right, investing in mobile homes can be a profitable way to add to your real estate portfolio. Check out everything you must know about mobile home investing to see if it's right for you.
Mortgagebroker News
DECEMBER 22, 2023
What are the initiatives laid down by the city?
Eppraisal
DECEMBER 22, 2023
Home improvements matter in real estate listings because they enhance your property’s value and attractiveness. Making strategic upgrades is essential because it helps your home stand out, making it more appealing to potential buyers. These improvements cater to modern preferences but also show the property is well-maintained, boosting buyer confidence and potentially leading to a faster and more successful sale.
Mortgagebroker News
DECEMBER 22, 2023
A video has indicated many homebuyers in Canada are struggling
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