Housing Wire

JULY 24, 2024

While there is no doubt that the Florida housing market has slowed since the height of the post-pandemic homebuying boom, the state’s condominium market has been especially hard hit, according to local agents. “It has definitely slowed,” said Cyndee Haydon , a Seminole-based agent for Future Home Realty. “Inventory has gone from a three-month supply a year ago to at least six months, so really we are into a buyers’ market now.

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Appraisal Buzz

JULY 24, 2024

Nearly two-thirds (64.7%) of homes on the market in June had been listed for at least 30 days without going under contract, according to a new report from Redfin, a technology-powered real estate brokerage. This marks an increase from 59.6% year-over-year, the largest annual rise in a year and the highest share for any June since 2020. June marked the fourth consecutive month in which the proportion of homes lingering on the market for at least a month increased year-over-year.

Inventory 433

Inventory Marketing HOA Contracts 433

Housing Wire

JULY 24, 2024

Will the Federal Reserve pivot in time to save construction workers? We have discussed this topic for some time now because, for the first time in a while, single-family permits are falling and 5-unit permits are already in recession. This is key because, traditionally, residential construction workers are the first to lose their jobs before every recession since higher mortgage rates hit housing first.

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Construction Inventory Mortgage Marketing 488

Appraisal Buzz

JULY 24, 2024

One of the few good things to come from the 2020 COVID-19 pandemic was ultra-low mortgage rates that hovered around 3%, in part due to the Federal Reserve slashing interest rates to 0% in order to keep the economy afloat. But those low rates, considered a great deal at the time, has caused unintended and unexpected consequences. The main consequence of these low rates is something called the “lock-in effect” caused by homeowners with those pandemic-era 3% interest rates making the choice to sta

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Housing Wire

JULY 24, 2024

The real estate market has witnessed significant fluctuations over the years, and the accompanying challenges for real estate agents can offer valuable insights and opportunities. The lofty home prices we’ve seen in recent months have some comparing aspects of today with those foreshadowing the housing bubble that preceded the 2008 market crash and, ultimately, what has come to be known as the Great Recession.

Real Estate 475

Real Estate Real Estate Agent Agents Client Relationships 475

Appraisal Buzz

JULY 24, 2024

Matic has published its mid-year premium trends study , which examines trends in homeownership from 2024’s first half. The report highlights significant challenges faced by homeowners, mortgage entities, and the housing market as a whole due to record premium increases, ongoing new business restrictions, and carrier exits. It draws from a dataset of 36 million quote requests, 10 million properties, and external quoting engines.

Insurance 370

Insurance Buyers Marketing Business 370

Real Estate News

JULY 24, 2024

Upward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.

Contracts 336

Contracts Buyers Marketing 336

Housing Wire

JULY 24, 2024

Real estate companies are using artificial intelligence (AI) to improve agent productivity, which they believe will be even more necessary due to changes to their commission structure — mainly on the buyer’s side. But despite these tech advancements, they don’t see a scenario in which “robots” will soon take buyers and sellers through the homeownership journey.

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Real Estate News

JULY 24, 2024

A sequel to the industry-challenging assessment is expected in early 2025 and will focus on the future. “The time is now for the industry to transform itself.

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Housing Wire

JULY 24, 2024

RealReports , a proptech firm that offers an artificial intelligence-based platform for property data , announced a new partnership this week with the San Francisco Association of Realtors (SFAR) to provide access to its tool to an estimated 5,000 members in the Bay Area. RealReports said that its tool has the functionality to offer “extensive property data from over 40 top providers for every home in the U.S.,” and that the artificial intelligence (AI)-powered “copilot” that it calls “Aiden” ca

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Realtors Tools Real Estate Agent Real Estate 467

Real Estate News

JULY 24, 2024

A U.S. District Court judge has approved a motion from the plaintiffs requesting reconsideration of a case originally filed against NAR in 2020.

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Housing Wire

JULY 24, 2024

The Real Brokerage has poached a high-performing Realtor team in Cleveland. Kaim Team is bringing its 25-members to the company, becoming the largest team operating in Ohio that’s affiliated with Real. Real hopes the team can provide more juice to a market that’s part of a trend of booming cities in the midwest. “We’re thrilled to welcome Michael, Tina and their team to Real,” Real President Sharran Srivatsaa said in a statement.

Agents 459

Agents Brokerage Training Real Estate 459

Real Estate News

JULY 24, 2024

Troy Palmquist will oversee a product team, commercial real estate and more for eXp; Tim Hudak is stepping down as Ontario association CEO effective August 2.

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Real Estate 264

Housing Wire

JULY 24, 2024

Attorneys general in 14 states have joined together to send a letter to Federal Housing Finance Agency (FHFA) director Sandra Thompson that urges the termination of the agency’s title waiver pilot program. The letter, which was sent on Monday, was spearheaded by Tennessee Attorney General Jonathan Skrmetti and co-signed by attorneys general in Alabama, Arkansas, Georgia, Indiana, Kansas, Louisiana, Mississippi, New Hampshire, Oklahoma, South Carolina, South Dakota, Texas and Virginia.

Insurance 459

Insurance Training Finance Investing 459

Appraisal Buzz

JULY 24, 2024

Fannie Mae has been named a Best Place to Work for Disability Inclusion by Disability:IN , receiving a top score of 100 on the 2024 Disability Equality Index (DEI) for its efforts to foster an inclusive workplace. “We are honored to be recognized as a ‘Best Place to Work for Disability Inclusion’ by the 2024 Disability Equality Index for the fifth year in a row,” said Sharifa A.

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Technology Business Development Training 221

Housing Wire

JULY 24, 2024

Homebuilders are still getting squeezed by high mortgage rates. That’s according to the U.S. Census Bureau ’s new-home sales report for June, which shows the level of transactions falling to a seasonally adjusted annual rate of 617,000. That represents a decline of 7.4% year over year and 0.6% month over month, and it’s the second month in a row that the pace of home sales has fallen.

Inventory 459

Inventory Construction Realtors Marketing 459

Inman

JULY 24, 2024

A much-discussed listing agreement update reflects upcoming NAR rules, but doesn't bar sellers from offering compensation to buyers' agents.

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Sellers Agents Buyers Realty 197

Housing Wire

JULY 24, 2024

Reverse mortgage industry veteran George Morales has been appointed as the new chairperson of the dedicated reverse mortgage development workgroup (DWG) inside the Mortgage Industry Standards Maintenance Organization. MISMO is a subsidiary of the Mortgage Bankers Association (MBA), which signaled its intent for more reverse mortgage involvement late last year.

Mortgage 458

Mortgage Development Lending 458

Appraisal Buzz

JULY 24, 2024

In practically every significant U.S. metro region, average rents have reached all-time highs within the last five years. If rent increases continue at the current rate, the majority of major U.S. metro areas may become unaffordable for the average renter in ten years, according to new data from Spareroom. When SpareRoom analyzed the average monthly rent for roommates in major metro areas over the previous five years (Q1 2024 and Q1 2019), it found that rentals had gone up by at least 25% in 18

Appraisal 195

Appraisal Marketing 195

Housing Wire

JULY 24, 2024

A freshly minted tech startup based in Palo Alto, California, and Seattle believes it has a solution for homeowners looking for insurance. Finaya is adding a marketplace for assessing and comparing home insurance offerings. The company will deliver a network of insurance providers for homeowners looking to insure a new home or sign a new policy to address shifting needs at different points in owning a home.

Insurance 457

Insurance Tools Buyers Sellers 457

Appraisal Buzz

JULY 24, 2024

Verification solutions provider Informative Research has expanded its integration with Equifax’ The Work Number income and employment information. With this enhancement, Informative Research provides its customers with extensive options for receiving the specific records from The Work Number that help meet their needs at each step of the mortgage process.

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Housing Wire

JULY 24, 2024

Century 21 is welcoming new affiliates on both coasts On Tuesday, the company announced it was welcoming Staten Island, New York -based Herman & Co. Real Estate to the brand. The firm is now doing business as Century 21 Standard Real Estate. The brokerage was founded in 2004 by broker-owner Herman Herrera, a retired U.S. Marine and former school teacher.

Brokerage 452

Brokerage Real Estate Realty Clients 452

Appraisal Buzz

JULY 24, 2024

Nearly two-thirds (64.7%) of homes that were on the market in June had been listed for at least 30 days without going under contract, according to a report from Redfin. That’s up from 59.6% a year earlier, marking the biggest annual increase in a year, and the highest share of any June since 2020. The report shows that demand for single-family homes is currently weak, resulting in more homes sitting on the market for at least one month.

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Marketing Sellers Inventory Contracts 195

Housing Wire

JULY 24, 2024

Prospective buyers from out of state often come to Indiana for its growing job market, low taxes and relatively affordable housing. Indianapolis-area Realtor Annie Caruso, a founding member of Circle Real Estate, had a buyer coming from the Chicago area for just these reasons. But their price point was under $300,000, and they were consistently outbid despite giving their best offer.

Marketing 448

Marketing Realtors Buyers Property Taxes 448

Appraisal Buzz

JULY 24, 2024

Neighborhood Credit Union is using FirstClose to streamline its home equity lending operations. Headquartered in Dallas, Neighborhood Credit Union has 14 branches throughout Texas serving more than 50,000 members. Last year, the credit union launched its home equity lending department and in just 12 months has originated over $1.3 million in home equity transactions.

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Lending Loan Officers Business Technology 195

Housing Wire

JULY 24, 2024

CoStar Group , the parent company of Homes.com and Apartments.com , among other sites, continued its revenue growth streak in second-quarter 2024. The company reported revenue of $678 million from April through June, up 12% compared to the same period a year ago. The firm said this marks its 53rd consecutive quarter of double-digit revenue growth. CoStar’s residential sector was at least partially responsible for the revenue growth as it rose from $12.7 million in Q2 2023 to $26.2 million in Q2

Tools 448

Tools Agents Realtors Buyers 448

Appraisal Buzz

JULY 24, 2024

Despite a slight dip in rates, mortgage application volume fell 2.2% during the week ended July 19, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 0.3% compared with the previous week and was up 38% compared with the same week one year ago. Applications for purchases decreased 4% compared with then previous week and were down 15% compared with the same week one year ago.

Mortgage 195

Mortgage Appraisal Marketing 195

Housing Wire

JULY 24, 2024

In a pair of court filings last week, eXp Realty, former CEO Glenn Sanford and agent Brent Gove renewed denials of their alleged roles in sexual assaults perpetrated by two former eXp agents. Responding to an amended complaint filed by plaintiff Anya Roberts in June, each party denied the charge of participating in a human trafficking enterprise that resulted in the alleged drugging and rape of Roberts by Michael Bjorkman and David Golden, who at the time were star agents at eXp. eXp and Sanford

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Realty Agents Law Legal 442

George Dell

JULY 24, 2024

The word bias brings up personal feelings in almost everyone. Even anger. Even a desire to strike back. Grrrr. This makes sense. Bias, and concepts of bias are personal. It’s about me. Or about THEM! Those people! They should just see things my way. The more writing I do, the more I […] The post Is Bias Personal? appeared first on George Dell, SRA, MAI, ASA, CRE.

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Housing Wire

JULY 24, 2024

Sales of both new homes and existing ones have declined, and it’s affecting how long homes stay on the market. A new report from Redfin shows that 64.7% of listed homes in June stayed on the market for more than 30 days, which is up from 59.6% a year ago. It’s the largest year-over-year increase for any month in the past year and the highest share for the month of June going back to 2020.

Sellers 435

Sellers Housing Market Buyers Marketing 435

Appraisal Buzz

JULY 24, 2024

In this episode, we sit down with Blair Dingeman, a distinguished member of the NAA board of directors and the chairman of the fundraising committee. Blair sheds light on the Appraiser Relief Fund, as well as the George Harrison Scholarship Fund, how these funds came into existence, and their transformative effects on individuals entering the appraisal industry.

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Appraisal Valuation 195

Housing Wire

JULY 24, 2024

Things are changing in the Nashville real estate scene. Coldwell Banker Southern Realty , which has offices in the Tennessee markets of Lawrenceburg, Shelbyville and Columbia, is marking its entrance into Nashville through its acquisition of Coldwell Banker Barnes. In an announcement on Wednesday, Coldwell Banker Southern Realty broker-owner Rich Cosner said the combined firms would operate under the Coldwell Banker Southern Realty name.

Realty 430

Realty Real Estate Agent Real Estate Agents 430

Inman

JULY 24, 2024

T3 Sixty plans to release "The Opportunity Report" as a follow up to its "DANGER Report" in early 2025. it says the new document will be comparable in its impactful earlier analysis of the industry.

Realtors 192

Realtors Brokerage Agents Marketing 192

Eyes on Housing

JULY 24, 2024

The production index for sawmills and wood preservation industries fell at the start of 2024 to 91.9 in the first quarter (the index measures real output during 2017 at a level of 100). This is the second straight decline for the quarterly level according to the Federal Reserve’s recent release of G.17 data. The index.

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