Appraisal Buzz
NOVEMBER 4, 2024
According to the National Association of Realtors ‘ (NAR) 2024 Profile of Home Buyers and Sellers, the market share of first-time homebuyers fell to a historic low of 24% (down from 32% last year), while the average age of home buyers reached all-time highs of 56 years (compared to 49 last year), 38 years for first-time buyers (compared to 35 last year), and 61 years for repeat buyers (compared to 58 last year).
Housing Wire
NOVEMBER 4, 2024
Editor’s note: This is the fifth in a series of articles that will explore the effects of the landmark Sitzer/Burnett case, which was decided on Oct. 31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. What does a real estate reporter do to mark the one-year anniversary of the Sitzer/Burnett jury verdict ?
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Real Estate News
NOVEMBER 4, 2024
NAR’s annual profile of homebuyers, which includes several new records, illustrates just how hard of a market it’s been for would-be homeowners.
Housing Wire
NOVEMBER 4, 2024
The Real Brokerage ‘s expansion trend has continued with another major acquisition. The digital brokerage platform announced on Monday the addition of Amerivest Realty , a Florida-based brokerage, adding 400 agents across Florida , Colorado , Minnesota and Wisconsin to Real’s platform. The move broadens Real’s service capabilities and aligns the brokerage with industry consolidation trends.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Real Estate News
NOVEMBER 4, 2024
In a lengthy filing, Judge Bough outlined his reasons for approving nine brokerage settlements last week, which he said got plaintiffs “the best deal possible.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
NOVEMBER 4, 2024
First-time buyers represented only 24% of all home buyers during the 12 months ended in June, down from 32% in the previous 12-month period, as the average age of a home buyer increased to 56, according to the National Association of Realtors (NAR). In addition, a record 26% of buyers paid cash for their homes. According to NAR’s data, the average age of a first-time home buyer increased to 38 (up from 35 last year).
Housing Wire
NOVEMBER 4, 2024
As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. In the third quarter of 2024, newly built single-family homes made up just 28% of homes for sale, according to a recent Redfin report based on data from the National Association of Realtors (NAR) and the U.S.
Appraisal Buzz
NOVEMBER 4, 2024
The next installment of the Five Star Institute Webinar Series will take place Monday, November 18 at 1:00 p.m. Central, when the Five Star Institute , in partnership with Global Strategic , present “ Partnering for Performance: Mortgage Operations Outsourcing.” The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry.
Housing Wire
NOVEMBER 4, 2024
The hardest position to take in analyzing the housing market is one that is contrarian and bullish. When everyone knows that the housing market is sluggish and weak, but the data shows surprising strength. That’s where we are right now. Home sales are significantly better than they were last year at this time. No one else is reporting it yet, because the traditional data takes so long to reach the headlines.
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Appraisal Buzz
NOVEMBER 4, 2024
Non-QM lender A&D Mortgage has issued its latest securitization, valued at $390.6 million. The securitization is backed by a pool of 1,171 mostly newly originated non-prime residential mortgages. The transaction closed on October 31. All loans in the deal were originated by A&D Mortgage or its qualified correspondents. The average borrower credit score was 735 and the weighted average loan-to-value (LTV) was 67.4%.
Housing Wire
NOVEMBER 4, 2024
As real estate practitioners adjust to the practice changes that took effect in August, and the industry waits for final approval of the NAR settlement from the court in November, questions continue about seller offers of compensation. The arrangement known as cooperative compensation allows sellers to choose to offset the cost of buyers’ agents. By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced.
Appraisal Buzz
NOVEMBER 4, 2024
Appraisal Map Inc. has launched AVM Optimizer , a tool that bridges the gap between automated home valuations and true property worth. The new tool enhances automated home valuations by factoring in property condition, updates, and renovations, addressing a key gap in other automated models. AVM Optimizer improves home value estimates by up to 30%, the company claims, providing more precise valuations for both consumers and professionals in the real estate industry.
Housing Wire
NOVEMBER 4, 2024
With mortgage rates back into the 7% range and several consecutive weeks of reduced demand , Rocket Mortgage is making what appears to be a volume play. The third party origination (TPO) division of Rocket Mortgage on Monday announced the rollout of its latest product, 24 Takeoff, which allows mortgage broker partners to receive a 24 basis point credit on all eligible loans until Nov. 17.
Appraisal Buzz
NOVEMBER 4, 2024
Fannie Mae recently auctioned 8,678 re-performing mortgage loans with about $1.42 billion in unpaid principal balance (UPB), offered in three pools. The winning bidder for Pool 1 and Pool 2 was Pacific Investment Management Co. while the winning bidder for Pool 3 was JP Morgan Mortgage Acquisitions Corp. This was Fannie Mae’s 33rd re-performing loan sale to date.
Housing Wire
NOVEMBER 4, 2024
Global credit rating agency Morningstar DBRS last week assigned a “good” rating to reverse mortgage industry leader Finance of America (FOA), confirming the ranking the company was assigned this past summer ahead of its earnings call this week. The rating is officially classified as “MOR RVO2” by Morningstar. The agency once more noted the recent business history of FOA — including the abandonment of its forward mortgage business and its acquisition of American Advisors Group (AAG).
Real Estate News
NOVEMBER 4, 2024
The quickly growing company said the acquisition of My Home Group will help bolster brokerage transactions as well as mortgage and title services.
Housing Wire
NOVEMBER 4, 2024
The National Association of Realtors (NAR)is pushing back against the antitrust lawsuit filed against it and other Realtor associations in Michigan by three industry professionals. On Friday, the defendants in the suit filed a motion to dismiss the Hardy suit due to a failure to state a claim. The defendants include NAR, the Michigan Association of Realtors (MAR) , Grosse Pointe Board of Realtors (GPBOR), Greater Metropolitan Association of Realtors (GMAR), North Oakland County Board of Rea
Inman
NOVEMBER 4, 2024
The share of recently bought homes that went to first-time homebuyers fell to less than 1 in 4 between July 2023 and June 2024, according to a new report.
Housing Wire
NOVEMBER 4, 2024
loanDepot has signed a new joint venture agreement with Smith Douglas Homes , a top-50 homebuilder with a solid book of business in the Southern states. Known as Ridgeland Mortgage , the joint venture will expand loanDepot’s footprint in a region where new-home sales account for roughly one-third to one-half of all transactions, depending on the market.
Inman
NOVEMBER 4, 2024
Weekends are packed with potential buyers and sellers, from open houses to whole-family showings. Agents are expected to work weekends, and childcare on the weekends can be expensive.
Housing Wire
NOVEMBER 4, 2024
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2025 Tech100 Award are open now through December 16, 2024. Click here to nominate a tech organization. As technology continues to rapidly reshape nearly every aspect of real estate and mortgage, HousingWire’s Tech100 award has become an industry staple, spotlighting the companies driving this transformation each year.
Inman
NOVEMBER 4, 2024
Amerivest Realty owner Joe Ballarino has brought a slew of agents based out of Florida, Colorado, Minnesota and Wisconsin to the cloud-based brokerage, according to an announcement Monday.
Appraiserblogs
NOVEMBER 4, 2024
There are signs of a new horde of deadbeat borrowers, but the foreclosure filings are being delayed and masked by the government itself. Some of the current deadbeat borrowers will learn to expertly work the system… In 2022, a San Ramon, California, couple who hadn’t made a mortgage payment since 2009 was finally evicted. Anita and Mahesh Khurana had put on a masterclass in the use of the courts to keep foreclosure at bay.
Inman
NOVEMBER 4, 2024
Brokerages have been plagued by falling sales and tapering price growth, rendering broker fees stagnant at a time when most sectors are enjoying robust gains, according to a new Intel analysis.
Eyes on Housing
NOVEMBER 4, 2024
Wages for residential building workers grew at a fast pace of 9.9% in September, following a 10.8% gain in August. These year-over-year growth rates in the past four months were unprecedented in the history of the data series since 1990. After a 0.3% increase in June 2023, the YOY growth rate for residential building worker.
Inman
NOVEMBER 4, 2024
Zillow Chief Industry Development Officer Errol Samuelson discussed NAR's no-commingling rule and Clear Cooperation — and how the fight to save the latter is key to preserving consumer choice.
BiggerPockets
NOVEMBER 4, 2024
California isn’t the only state that will decide on important housing issues at the ballot box on Nov. 5, but it is one of the most prominent.
Inman
NOVEMBER 4, 2024
Find out how Miami luxury leader Lourdes Alatriste demonstrates grace under pressure while always keeping clients' needs top of mind.
Appraiserblogs
NOVEMBER 4, 2024
There are signs of a new horde of deadbeat borrowers, but the foreclosure filings are being delayed and masked by the government itself. Some of the current deadbeat borrowers will learn to expertly work the system… In 2022, a San Ramon, California, couple who hadn’t made a mortgage payment since 2009 was finally evicted. Anita and Mahesh Khurana had put on a masterclass in the use of the courts to keep foreclosure at bay.
Inman
NOVEMBER 4, 2024
Located just a short journey from downtown Seattle are two island communities that offer a slower lifestyle to professionals looking to escape busy city life.
BiggerPockets
NOVEMBER 4, 2024
Everyone is awaiting the 2024 presidential election results—especially homebuyers.
Inman
NOVEMBER 4, 2024
The two companies have agreed to offer Local Logic’s scalable library of city, community and street-level NeighborhoodIntel reports through the SentriLock interface.
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