Housing Wire

JULY 5, 2024

With today’s jobs report and all the reports we got during this jobs week, can we finally say the Federal Reserve is winning its war against the labor market? I believe the Fed won’t pivot until the labor market breaks. That has been my position since 2022 and we are starting to see some early signs of them successfully attacking the U.S. labor market in the past few months, something I talked about on a recent HousingWire Daily podcast.

Marketing 471

Marketing Housing Market Government Construction 471

Appraisal Buzz

JULY 5, 2024

In an effort to safeguard against the growing threats posed by climate change, the Federal Housing Finance Agency (FHFA) is intensifying its focus on understanding and mitigating climate-related risks within the U.S. housing finance system. Climate Scenario Analysis (CSA), a pivotal tool for evaluating exposure to climate-related risks under different future climate conditions, has emerged as a critical component of this strategy.

Finance 370

Finance Tools Insurance Technology 370

Housing Wire

JULY 5, 2024

As those in or near retirement continue to proclaim a preference for aging in place , there may be challenges for people who aren’t sure about how or when they should get started on making plans. A series of home healthcare, renovation and senior care experts offer tips on ways to begin in a column published by U.S. News & World Report. For reverse mortgage clients looking to use their loan proceeds to fund the goal of aging in place, home renovations and other preparations may be requ

Renovations 435

Renovations Loan Officers Clients Technology 435

Appraisal Buzz

JULY 5, 2024

On Wednesday, July 10, Fitch Ratings will present, its “ U.S. Cross-Sector Housing Monitor Webinar ” at 10:00 a.m. Central. While the nation’s housing market remains tight, sales are tracking well below housing demand, and rental and homeowner vacancy rates are plummeting to multi-decade lows. These dynamics will drive growth in the U.S. residential housing economy, which represents approximately 17% of the nation’s Gross Domestic Product (GDP).

Housing Market 361

Housing Market Marketing Finance Development 361

Housing Wire

JULY 5, 2024

Like many in title , Iain Bryant, the newly appointed president of Stewart Title’s agency division, found his way into the industry through family. Bryant’s father founded A.S.K. Services , a title production business, in 1990, and after growing up surrounded by the title industry, Bryant said he was determined to never be part of the industry. “My dad also had a rule for all of his children that once you graduated, you couldn’t come back and work in the business until you’d done something else,

Agents 394

Agents Business Clients Insurance 394

Real Estate News

JULY 5, 2024

Austin, Boise, Phoenix and Salt Lake City home prices soared during Covid, and while gains have slowed, they haven’t “seen anything resembling a price crash.

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Appraisal Buzz

JULY 5, 2024

About 206,000 jobs were added to the U.S. economy in June but it wasn’t enough to keep the unemployment rate from rising to 4.1%, up from 4.0% in May, according to the U.S. Bureau of Labor Statistics. Job gains occurred in government, health care, social assistance, and construction – but the total number of unemployed increased to 6.8 million, up from 6.6 million the previous month.

Marketing 195

Marketing Construction Government Appraisal 195

Housing Wire

JULY 5, 2024

A ransomware attack on Bay-area Patelco Credit Union caused almost half a million members to lose access to banking services, and the outage could last for weeks. The company shared news of the attack on June 29 via Twitter. The services knocked off line include online banking, the company’s mobile app, direct deposits, transfers, debit and credit card transactions, Zelle, balance inquiries, online bill payments and monthly statements, among others.

Mortgage 382

Mortgage Technology 382

Appraisal Buzz

JULY 5, 2024

The main national trade organization for commercial, home, and auto insurers, The American Property Casualty Insurance Association (APCIA), and Verisk released a statement today regarding the insurance industry’s projected $21.1 billion in full-year 2023 losses. Important financial metrics for private U.S. property/casualty insurers show that underwriting losses in 2023 resembled those in a challenging 2022.

Insurance 195

Insurance Supply Chain Contracts Investing 195

Housing Wire

JULY 5, 2024

A New York jury found Vishal Garg, CEO and founder of digital mortgage lender Better.com , liable for breach of fiduciary duty and conversion in a decade-long lawsuit filed by his former partner, Raza Khan. Garg intends to appeal. The court ordered Garg to pay $5.5 million to Educational Investment & Finance Corporation (EIFC), the company the partners founded in 2009.

Finance 380

Finance Business Mortgage Clients 380

Inman

JULY 5, 2024

After spiking after the June 27 presidential debate, mortgage rates are trending down again on mounting expectations that the Federal Reserve will start cutting rates in September.

Mortgage 201

Mortgage Marketing 201

Housing Wire

JULY 5, 2024

Job creation slowed in June, despite continued tight labor market conditions, which economists say is good news for the Federal Reserve. Data from the U.S. Bureau of Labor Statistics released on Friday shows that total nonfarm payroll rose by 206,000 jobs in June, compared to 272,000 jobs in May. Job gains in June were most notable in industries like government (70,000), health care (49,000), social assistance (34,000) and construction (27,000), a positive for the housing industry.

Construction 370

Construction Government Real Estate Housing Market 370

Inman

JULY 5, 2024

The multifamily investor has had a number of encounters with police in Miami and LA in recent months in response to disorderly behavior involving guns, as well as DUI and allegations of assault.

Investors 187

Investors Investing Agents 187

Housing Wire

JULY 5, 2024

The Mortgage Bankers Association (MBA) this week detailed its reasons for opposing a bill in the state of Florida designed “to expand projects eligible for residential Property Assessed Clean Energy ( PACE ) financing,” which was recently signed into law by Gov. Ron DeSantis. Florida Senate Bill SB-770 authorizes local and county authorities within the state to create financing programs for home and other property renovations, which can include energy efficiency upgrades or renewable energy inst

Law 369

Law Finance Property Taxes Renovations 369

Inman

JULY 5, 2024

Recruiting is tough these days, but agents at franchises may be especially open to a move this year, according to an analysis of their responses from the latest Inman Intel Index survey.

Agents 187

Agents Brokerage 187

Housing Wire

JULY 5, 2024

Fewer prospective mortgage borrowers pulled the trigger in June, according to a new report from Mortgage Capital Trading. Mortgage rate locks decreased 7.84% in June compared to the previous month. This drop follows a brief uptick in volume at the beginning of the traditional buying season, suggesting a continuing stalemate between limited housing supply and higher interest rates (they were 7.11% on Friday), MCT said this week.

Mortgage 354

Mortgage 354

Appraisal Buzz

JULY 5, 2024

Alex Rayner, a top-producing loan officer, has announced a strategic partnership with Service First Mortgage to create Haymaker Home Loans , a next-generation mortgage company focused on top producers’ success. The new venture aims to provide unparalleled resources and exceptional customer service for loan officers and their clients, according to a release.

Loan Officers 195

Loan Officers Mortgage Technology Clients 195

Housing Wire

JULY 5, 2024

To Andy Florance, the CEO of CoStar Group , the trade secret lawsuit Move, Inc., the parent company of listing portal rival Realtor.com , recently filed against his firm is all a “PR stunt.” “Effectively, you create a bogus story and you use a relatively junior person as a pawn and you get a story out there,” Florance said. “And the question is why?

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Agents Business Real Estate Law 328

Appraisal Buzz

JULY 5, 2024

Mortgage lock volume decreased 7.84% in June compared with May, according to Mortgage Capital Trading , Inc. The decline follows a brief uptick in volume at the beginning of the buying season, suggesting a continuing stalemate between limited housing supply and higher interest rates. Limited supply of available homes coupled with mortgage rates hovering around 7% has contributed to a decline in sales activity, MCT says.

Mortgage 195

Mortgage Appraisal Marketing 195

Inman

JULY 5, 2024

After being sentenced by Vatican State Court for embezzlement and fraud, London-based Italian banker Raffaele Mincione is fighting back in UK courts with a countersuit accusing the Vatican of mishandling and mis-documenting funds.

Real Estate 185

Real Estate Investing 185

Eyes on Housing

JULY 5, 2024

There is a mismatch between the prices of homes being built, and the prices home buyers expect to pay, according to recent surveys from NAHB and the U.S. Census Bureau. While 38% of buyers expect to pay less than $250,000 for their next home (and 19% expect to pay less than $150,000), only 5% of.

Buyers 158

Buyers Construction 158

Inman

JULY 5, 2024

From changing rules to higher expectations, real estate is a new industry now, with new challenges, new opportunities—and new tech. Join us for a first-look tour of real estate’s new end-to-end platform, Lone Wolf Foundation, featuring a new transaction experience and a new standard in back office and accounting.

Real Estate 184

Real Estate 184

BiggerPockets

JULY 5, 2024

Luxury home prices have made these properties even more unaffordable, but we talked to investors who told us what to look for.

Investors 82

Investors Real Estate 82

Inman

JULY 5, 2024

The real estate industry is evolving, and luxury real estate is no exception. With shifts in market dynamics, buyer preferences and the rise of innovative technologies, staying ahead requires more than just experience; it demands continuous learning and networking with the best in the business. This is your opportunity to do exactly that.

Real Estate 180

Real Estate Business Technology Buyers 180

BiggerPockets

JULY 5, 2024

With AI tools and Matterport, virtual staging could earn you more dollars on your flip than you might expect.

Tools 83

Tools Real Estate 83

Inman

JULY 5, 2024

While you’re at Inman Connect, it isn't just about conference hustle; it's about refueling your mind, body and real estate business strategy. Here's how.

Real Estate 190

Real Estate Business Agents 190

Lamacchia Realty

JULY 5, 2024

Lamacchia Realty Founder and CEO, Anthony Lamacchia has been featured in a new article published by MSN earlier this week. The article highlights Anthony as a visionary and an outspoken voice in the real estate industry. It continues to delve into his remarkable career, and how his passion, determination, and experience have led to his success. Additionally, the piece commends his innovative approaches and leadership, positioning the brokerage to redefine industry standards.

Real Estate 64

Real Estate Realty Brokerage 64

Inman

JULY 5, 2024

Real estate auctions offer benefits for both buyers and sellers. Chad Roffers offers tips on how buyer's agents can help their clients navigate the process.

Real Estate 187

Real Estate Buyers Agents Sellers 187

Lamacchia Realty

JULY 5, 2024

July 3, 2024 – Inman has released a new article highlighting Massoud Atallah ‘s move to Lamacchia Realty’s Executive Team as the brokerage’s new Senior Vice President of Business Development. The piece dives into Lamacchia Realty’s rapid growth and how Massoud will play an active and integral role in recruitment and retention as the company continues to expand.

Realty 63

Realty Brokerage Development Business 63

Inman

JULY 5, 2024

Buyers and sellers who feel like the commission settlements didn't go far enough are fighting back in court, and the cases are bunching up.

Sellers 190

Sellers Buyers Brokerage Agents 190

Lamacchia Realty

JULY 5, 2024

July 3, 2024 – We are honored that Boston.com has officially named a recent Lamacchia Luxury listing as its Luxury Home of the Week. The property, located at 35 S Russell Street, Boston, MA 02114 , is listed by Lidiya Dimova of Lamacchia Realty’s Woburn, Massachusetts office. The home is currently on the market for $2,950,000 and offers four bedrooms, two full and one half bathroom, and is 2,421 square feet.

Realty 60

Realty Real Estate Sellers Clients 60

Inman

JULY 5, 2024

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.

Brokerage 184

Brokerage Agents 184

Buys Brokers Only LLC

JULY 5, 2024

The real estate markets in Stoneham, Massachusetts, and Wakefield, Massachusetts, were competitive during 2024's first five months, but more so in Stoneham.

Real Estate 57

Real Estate Marketing Realtors 57

Inman

JULY 5, 2024

ICE Mortgage Technology survey finds 84 percent of homeowners who have taken out a mortgage in the last five years only considered one or two lenders before closing the deal.

Mortgage 150

Mortgage Technology Tools Buyers 150