Housing Wire
NOVEMBER 6, 2023
While home prices in the U.S. held up in 2023, sales volume in the housing market cratered. Consumers care about home prices and mortgage rates; the industry cares about transaction volume. The industry is in a deep housing recession this year. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now.
Real Estate News
NOVEMBER 6, 2023
More settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.
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Housing Wire
NOVEMBER 6, 2023
Between rising mortgage rates and soaring loan production costs this year, many lenders and brokerage leaders are reducing headcount to preserve their bottom line. As a result, many mortgage and real estate professionals may find themselves checking out LinkedIn , whether to search for a new position or make connections in anticipation of the future.
Real Estate News
NOVEMBER 6, 2023
In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.
Speaker: Timothy Allsopp
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Housing Wire
NOVEMBER 6, 2023
Stubbornly elevated mortgage rates created more affordability pressures for homebuyers in October, according to ICE Mortgage Technology ’s November Mortgage Monitor report. In October, the monthly payment needed to purchase a median-priced home exceeded the $2,500 threshold for the first time ever. It now takes 40.6% of the median household income to afford monthly mortgage payments, making housing the least affordable it’s been since 1984.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
NOVEMBER 6, 2023
The use of artificial intelligence (AI) is poised to grow amid higher origination costs and greater competition, but without correcting the underlying causes of bias in data, AI models can embed racial equity inequality on a larger scale, a recent report from the Urban Institute concluded. “It must first, however, overcome the biases and inequities already embedded into the data it analyzes.
Inman
NOVEMBER 6, 2023
Over 4 million mortgage customers have been unable to make their payments since the company announced it had been attacked on Oct. 31.
Eyes on Housing
NOVEMBER 6, 2023
A majority of new homes that completed construction in 2022 included two-car garages (66%), according to NAHB analysis of 2022 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions.
Inman
NOVEMBER 6, 2023
Believe it or not, there are less than two months left in 2023. And there’s no better time than right now for real estate agents to evaluate their recent productivity and establish the framework for success in the year ahead.
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BiggerPockets
NOVEMBER 6, 2023
Will 2024 bring about a soft landing or a hard recession?
Inman
NOVEMBER 6, 2023
In physics, critical mass is a nuclear term. It’s the minimum amount of a given material that you need to set off a self-sustaining chain reaction. While that may be a good thing in nuclear physics — where you typically want to start chain reactions — you don’t usually want to see the same sort of reaction in a business setting.
Mortgagebroker News
NOVEMBER 6, 2023
Plus: Homebuyer sentiment could be shifting at last
Inman
NOVEMBER 6, 2023
In the world of homebuying, we often find ourselves discussing the vital role of mortgage professionals. You've likely encountered two key players in this field: mortgage bankers and mortgage brokers.
GoForrmz
NOVEMBER 6, 2023
How GoFormz can ease the retail rush for seasonal shopping It’s officially November, and that means the holiday season is here! This year, Black Friday falls on November 24, and Cyber Monday on November 27. With only days left, retailers are preparing their staff and inventory for the major rush. Aside from extra staffing and inventory, there are additional steps retailers can take to be successful this holiday season.
Inman
NOVEMBER 6, 2023
It's an oft-repeated adage that real estate is cyclical. Well, figures recently released by the National Association of Realtors (NAR) put the industry back in 2010. That's because existing home sales have dropped over 15 percent year-over-year.
Mortgagebroker News
NOVEMBER 6, 2023
However, the annual change in the insolvency rate tells a very different story
Inman
NOVEMBER 6, 2023
Agents and teams at Century 21, Sotheby’s International Realty and Coldwell Banker, among others, will have access to RealScout as part of an enterprise-level agreement between the tech company and Anywhere.
Mortgagebroker News
NOVEMBER 6, 2023
Overall unemployment stood at 5.
Inman
NOVEMBER 6, 2023
This week, Sue 'Pinky' Benson explains the difference between Instagram's Reels and Stories features. Hint: They're nothing alike.
Mortgagebroker News
NOVEMBER 6, 2023
GDP is likely to go down by 0.
Inman
NOVEMBER 6, 2023
At 32, the RealiFi Realty co-founder and CEO is the youngest president in the organization's history. Tian is a broker-owner in LA and was selected as a NAR '30 under 30' honoree in 2017.
Town & Country Residential Appraisals
NOVEMBER 6, 2023
Confidence in the size of your home is a fundamental aspect of real estate, but have you ever wondered why the reported square footage can differ from one source to another? In this article, we will delve into the reasons behind these discrepancies and underscore the significance of precise measurements in the real estate world. When you bought your house, someone, whether it was a real estate agent, a builder, or a published source, provided you with an estimate of its size.
Inman
NOVEMBER 6, 2023
Rental application fraud is a persistent hazard of leasing and continues to challenge property agents everywhere. TransUnion commissioned a survey of single-family and multifamily property managers that showed a whopping 97 percent of respondents had experienced application fraud.
Listing Spark
NOVEMBER 6, 2023
Real estate markets across the country are normalizing, but the industry is still incredibly profitable for new and experienced property investors. Texas continues to represent one of the strongest markets, home to two of the top ten cities for real estate: Dallas/Fort Worth and Austin. By searching in and around these two markets, investors can find plenty of properties, from single-family residences that can be renovated and sold to raw land that may be on the development fast track in just a
Inman
NOVEMBER 6, 2023
Do you feel like NAR is playing a game of chicken with your business? You're probably not alone, writes Rachael Hite. Here are 10 action steps you can take right now to build sustainability into your business.
Housing Wire
NOVEMBER 6, 2023
Patricia “Patti” Cook , who broke the glass ceiling in the mortgage industry during a successful 45-year career , died on Friday at her home in New York. She was 70 years old. Cook retired as CEO of Finance of America in June 2022 to focus on her health. She is survived by her three daughters, Kathleen Cook Suozzi, Colleen Cook Flannery, Annie Cook Carroll and her six grandchildren, as well as her sisters Laurie Bonello and Marybeth Solazzo. “Patti was not only a remarkable lea
Inman
NOVEMBER 6, 2023
Access to safe, traditional credit building is especially limited in Black neighborhoods, a report from Zillow shows, highlighting lingering effects from redlining that keep those households renting instead of owning a home.
Housing Wire
NOVEMBER 6, 2023
Employees at the U.S. Department of Housing and Urban Development (HUD) feel safer, more valued and empowered in their roles at the department. This is according to the 2023 Federal Employee Viewpoint Survey (FEVS) that tracks the sentiment of federal employees across the government. “The FEVS, which is the largest annual employer survey in the country, tracks how federal employees view their current work environment, including workforce management, policies, and new initiatives,” HUD said in an
Inman
NOVEMBER 6, 2023
New mortgage JV with New Jersey-based Keller Williams Bergen County Partners, Carnegie Mortgage Partners, follows on heels of similar deal in Georgia.
Housing Wire
NOVEMBER 6, 2023
The last thing homebuyers and sellers expect to encounter on their real estate journey is discrimination. But until 1968, unethical practices in real estate prevented thousands of people from renting, buying or selling their homes. These discriminatory practices were written into community covenants and passed down from local government to local government until 1968, when the Fair Housing Act was passed.
Inman
NOVEMBER 6, 2023
The brokerage saw revenue fall 10 percent year over year, but also managed to cut net losses from $154 million in the third quarter of last year to $39 million this time around, according to a Q3 earnings call Monday.
Mortgagebroker News
NOVEMBER 6, 2023
These mortgages have led to massive household debt, according to Bank of Canada's senior deputy governor
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