Housing Wire
JULY 8, 2024
Nationally, the housing market indicators have been slow for several months now. There have been a few markets; however, that have defied the national trends where inventory has stayed tighter and demand keeps rolling in. Available inventory of unsold homes in the U.S. is 40% more now than last year, but some markets are just now starting to lift beyond the pandemic lows.
Appraisal Buzz
JULY 8, 2024
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Housing Wire
JULY 8, 2024
In the fast-paced world of social media , real estate professionals are increasingly turning to Instagram to grow their client base and establish their brand. However, many find that their efforts aren’t translating into the loyalty and engagement they hoped for. The root cause? A widespread reliance on “talking head” videos and the tendency to mimic content from others.
Appraisal Buzz
JULY 8, 2024
According to a brief report from Redfin News, pending home sales posted their biggest decline since February in June of this year—good news for prospective buyers as there are more new listings to choose from, and monthly housing payments are down around $100 from their peak in April due to declining, but still relatively high, mortgage rates. While Redfin did not post an in-depth analysis of this news this news cycle, they did still report the latest housing market data via charts and graphs.
Housing Wire
JULY 8, 2024
Top-five mortgage lender Newrez , owned by asset manager Rithm Capital , has imposed another round of layoffs affecting 265 employees in Colorado and Arizona, per documents sent to state authorities. That’s the third round this year, following the acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS ) for $720 million in October 2023, which brought some redundancies to its structures.
Appraisal Buzz
JULY 8, 2024
Consumer sentiment toward the housing market improved slightly in June but remained historically low as higher mortgage rates and soaring home prices continued to stagnate home sales. Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 3.2 points to a score of 72.6 , rebounding from a dip that came in May. As per the monthly survey, 19% of consumers say it’s a good time to buy a home, up from 14% in May, which represented a new survey low.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
JULY 8, 2024
Over the years, many things in the appraisal profession have come and gone. Things that were once all the rage – have since fallen into the ranks of the old and obsolete. I remember as a young appraiser when Polaroid film was the standard, then 35MM, and now digital cameras, or even a phone or tablet. Fax machines with shiny paper that would curl up with red streaks marking the end of the roll was replaced by email, instant messaging and online portals.
Housing Wire
JULY 8, 2024
Despite a spate of reports showing the cost of housing increasing, consumers have a slightly rosier view of future home-price growth. That’s according to a new consumer survey from the Federal Reserve that shows respondents believe that home-price growth will be 3%. That’s down from 3.3% in last month’s survey and back to the 12-month trailing average.
Real Estate News
JULY 8, 2024
Bucking industry trends, consumer sentiment is at the highest level in more than two years, according to Fannie Mae’s latest survey.
Housing Wire
JULY 8, 2024
As a broker and real estate coach, I’m always surprised when new agents tell me they don’t want to use real estate scripts. A script is just a predetermined question or response that helps guide a conversation closer to your desired outcome. Knowing what you’ll say in advance on a call, at an open house, or just chatting with your sphere makes you more confident — and confidence is the key that opens the door to opportunity in real estate.
Real Estate News
JULY 8, 2024
Andy Florance told Real Estate News that a former Realtor.com employee is a ‘pawn’ in a broader dispute, and the bigger picture involves global expansion.
Housing Wire
JULY 8, 2024
Global asset manager Bain Capital announced Monday that it has acquired a controlling stake in Archwest Capital , a California -based company that offers financing to residential real estate investors. The financial terms of the deal were not disclosed, but the companies said in a joint statement that Archwest management, led by CEO Shawn Miller, would retain a “significant minority stake.“ “We are pleased to partner with Shawn and the Archwest team to deliver dynamic financing solutions to home
Real Estate News
JULY 8, 2024
A status update in the 5-year-old Moehrl case says any objections to the deals must be filed next month, while HomeServices continues to hash out its agreement.
Housing Wire
JULY 8, 2024
We continue to see a consistent pattern in net operating percentages as they relate to increasing revenue levels. As revenue increases, there is a general downward trend in net operating percentages, further confirming that higher revenue levels may be associated with increased operating costs or other factors that decrease the proportion of revenue retained as profitability.
Appraisal Buzz
JULY 8, 2024
The U.S. Department of Veterans Affairs (VA) has awarded $26.8 million in legal services grants to a total of 108 public and non-profit organizations, all with the goal of increasing access to legal services for eligible U.S. veterans experiencing or at risk for homelessness. Click here to view the list of grant award recipients. The VA home loan program, which recently celebrated its 80th anniversary , has provided more than 28 million loans to veterans to date.
Housing Wire
JULY 8, 2024
Roughly eight months after acquiring PacWest Bancorp in a rescue deal , Banc of California is selling roughly $2 billion in business-purpose residential mortgage loans, according to Bloomberg. PacWest had already sold the servicing on the debt service coverage ratio (DSCR) loans, which were originated by its subsidiary Civic Financial Services , before Pacwest was acquired by Banc of California in late 2023.
Appraisal Buzz
JULY 8, 2024
According to Apartment List, single-family homes account for the majority of the country’s housing stock—some two-thirds by their numbers—and are occupied by the families that own them. But a now sizeable share of single-family homes are purpose-built single-family rentals according to recent construction data. Sixteen percent (16.6%) of single-family homes are now rented or leased, which has been driven by a strong demand for single-family housing, but a lack of affordable homeownership opport
Housing Wire
JULY 8, 2024
In the ever-evolving landscape of mortgage banking, executives face the critical challenge of leading their teams through turbulent times. The current market, characterized by the “higher for longer” scenario, presents unique obstacles: originators grapple with lower production, low housing inventory, and high rates, while operations professionals endure layoffs and relentless pressure to achieve more with less.
Appraisal Buzz
JULY 8, 2024
Eric Rawlings has joined Candor Technology , a provider of AI-driven loan underwriting and quality control solutions for mortgage lenders, as chief technology officer. Rawlings has a wealth of experience and a proven track record of driving technological excellence across diverse industries. He is an IT leader with over two decades of experience, particularly in disaster recovery, governance, risk management, and compliance (GRC), among other technical skills.
Housing Wire
JULY 8, 2024
At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. After the industry’s secondary market was rocked by the collapse of Reverse Mortgage Funding (RMF) in 2022, Ginnie Mae went to work in an effort to bring more stability to t
Appraisal Buzz
JULY 8, 2024
Aidium , which offers a business intelligence and mortgage CRM platform, has launched its 24/7 customer support service, ensuring mortgage professionals have access to real-time assistance whenever needed. With mortgage professionals often working beyond standard business hours, continuous support becomes crucial. Aidium’s new 24/7 support service ensures lenders can resolve issues and receive assistance without delays, helping maintain productivity.
Housing Wire
JULY 8, 2024
An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. This is according to original reporting by Crain’s Chicago Business and subsequent coverage from The Real Deal (TRD).
Appraisal Buzz
JULY 8, 2024
Major homeownership expenses – including mortgage payments, property taxes and insurance – now consume about 35% of the average wage nationwide, according to ATTOM’s U.S. Home Affordability Report. “The latest affordability data presents a clear challenge for home buyers,” says Rob Barber, CEO for ATTOM, in the report. “While home prices are increasing and mortgage rates remain relatively high, these factors are making homes less affordable.
Housing Wire
JULY 8, 2024
The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra , urging the agency to more forcefully go after trigger lead solicitations. To cement the point, CHLA is calling such solicitations “junk calls,” echoing the language of the campaign the Bureau has waged against “junk fees.
Inman
JULY 8, 2024
Change can be a scary word. For many of us, it conjures the image of something sudden and unexpected, a situation we weren’t prepared to face, an environment we aren’t comfortable with.
Housing Wire
JULY 8, 2024
Real estate technology provider Lone Wolf announced the official launch of its new platform Lone Wolf Foundation on Monday. The firm first announced the creation of the platform at T3 Sixty’s Tech Summit in 2023. According to the company, the platform brings Lone Wolf’s website building capabilities, as well as CRMs , comparative market analyses, open house planning, transaction management, back office work and accounting all into one place.
Inman
JULY 8, 2024
Find out what NYC associate broker Bill Kowalczuk has learned during his years in the business and what he'd be doing if he weren't in real estate.
Eyes on Housing
JULY 8, 2024
Reaching the highest level of multifamily completions since 1987, 450,000 multifamily units were completed in 2023, with 216,000 units completed in buildings with fewer than 50 units according to NAHB Analysis of the Census Bureau’s Characteristics of Units in New Multifamily Buildings Completed. This was the highest number of units in such buildings since 2006.
Inman
JULY 8, 2024
Regulators and prosecutors are cracking down on landlords who've been falsifying income and expense data on crucial loan documents, according to a new feature published by "The Wall Street Journal.
BiggerPockets
JULY 8, 2024
New data from New York City shows that short-term rental bans haven't moved the needle on housing at all.
Inman
JULY 8, 2024
Wealth manager Michael Conticelli writes that agents must understand ownership rights to ensure they are using correct documentation and contracts for legal compliance.
BiggerPockets
JULY 8, 2024
A revision to Florida's Live Local Act reduces incentives for developers and increases building restrictions.
Inman
JULY 8, 2024
Running a team is like leading a family, team leader Carl Medford writes. It takes concerted efforts to keep relationships intact and functioning in a healthy way.
BiggerPockets
JULY 8, 2024
Off-market deals can be a huge source of great deals, if you can find them.
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