Housing Wire
OCTOBER 26, 2024
Since mid-2022 when mortgage rates headed higher , two facts have been apparent: new listings data has been trending at the lowest levels ever recorded in history and inventory has been able to grow from record low levels thanks to mortgage rates staying elevated. We’ve seen some growth in new listings this year compared to 2023 levels, which is good for housing.
Appraisal Buzz
OCTOBER 30, 2024
The National Association of REALTORS (NAR) reports that pending home sales increased in September. Transactions increased month over month in all four major regions. While sales in the Midwest and South stayed stable, the Northeast and West saw gains year-over-year. September saw a 7.4% increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, the highest level since March (78.3).
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Real Estate News
OCTOBER 23, 2024
From agent pay to association changes, a new report identifies 20 ways the industry can improve itself — and help homebuyers and sellers in the process.
Inman
OCTOBER 30, 2024
Tanya Monestier says the settlement "reinforces the existing system of seller-paid inflated compensation while pretending to eliminate it" as attorneys walk away with $333 million in cash.
Eyes on Housing
OCTOBER 23, 2024
While the lack of affordable housing dominates the headlines across the nation, congressional districts with higher shares of renter households are disproportionately affected by the current affordability crisis. Geographically, the districts with the largest housing cost burdens are heavily concentrated in California, Florida, and the coastal Northeast.
BiggerPockets
OCTOBER 21, 2024
Proposition 33—a measure on this year’s California election ballot that would increase rent control laws by limiting the amount landlords can charge for rent, regardless of an apartment’s rental history, […]
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Appraisal Buzz
OCTOBER 30, 2024
It’s been a year of cautious growth for luxury real estate, so it’s the perfect time for PropertyShark to come up with a list of the 100 most expensive zip codes in America. And the winner is … Atherton, California (again). Located just north of Menlo Park in northern California, Atherton takes the crown for the most expensive zip code in the nation for the eighth consecutive year, with a 2024 median sale price of $7,900,000.
Real Estate News
OCTOBER 29, 2024
A law professor filed a lengthy objection calling it “the worst of all possible worlds,” raising concerns about “chaos and frustration” as well as legal fees.
Inman
OCTOBER 31, 2024
Judge Stephen Bough granted approval for settlements involving Compass, Douglas Elliman, @properties and other companies. Collectively, the companies will pay $110 million to resolve the litigation.
Eyes on Housing
OCTOBER 18, 2024
With the Federal Reserve beginning an easing of monetary policy and builder sentiment improving, single-family starts posted a modest gain in September while multifamily construction continued to weaken because of tight financing and an ongoing rise in completed apartments. Overall housing starts decreased 0.5% in September to a seasonally adjusted annual rate of 1.35 million.
BiggerPockets
OCTOBER 14, 2024
Think of public housing, and a familiar picture comes to mind: hulking, run-down brick tenement buildings, graffiti-strewn malfunctioning elevators, crime, drugs, and all the social ills that go with it.
Housing Wire
OCTOBER 17, 2024
The U.S. economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae ‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from 3.2% in 2023 to 2.3% in 2024 and 2% in 2025.
Appraisal Buzz
OCTOBER 24, 2024
Cloudvirga , a subsidiary of Stewart Information Services Corporation , has announced the findings of a consumer survey that highlights the increasing digitalization of the front-end of the mortgage origination process and growing homebuyer expectations for an even more automated, digital experience. The survey questioned recent homeowners, the majority of whom were first-time buyers, a series of questions about their experience during the mortgage application and closing process, including thei
Real Estate News
OCTOBER 3, 2024
In its latest consumer guide, the association offers general education about MLSs while alluding to the ongoing debate over its Clear Cooperation Policy.
Inman
OCTOBER 23, 2024
Robert Kramer listed his home for sale without using an agent three years ago. The price is $200,000 above some estimates. He raises it $3,600 every month and is still waiting for the right buyer.
Eyes on Housing
OCTOBER 23, 2024
Despite recent easing mortgage rates and improved inventory, existing home sales fell to a 14-year low in September as elevated home prices are causing potential buyers to hold out for lower rates, according to the National Association of Realtors (NAR). Sales remained sluggish as the lock-in effect kept home prices elevated. However, we expect increased.
BiggerPockets
OCTOBER 9, 2024
The BRRRR strategy (buy, rehab, rent, refinance, repeat) is based on finding discounted properties, fixing them up, renting them out, refinancing, and socking away the cash flow with a long-term tenant, and repeating the process until you have amassed a sizable monthly cash flow. In 2024, I largely believe that it's unrealistic.
Housing Wire
OCTOBER 17, 2024
Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. Fair Isaac Corp. (FICO), the company that retains the rights to the market’s widely adopted consumer credit-risk assessment methodology, is expected to raise the price for mortgage credit scores from $3.50 to at least $5, according to the estimates.
Mortgagebroker News
OCTOBER 24, 2024
The multibillion-dollar brokerage's expansion will offer brokers a huge opportunity to grow their business under a stellar brand, leaders say
Real Estate News
OCTOBER 19, 2024
The Clear Cooperation Policy — a misguided attempt to level the playing field — doesn't meet the needs of consumers or support principles of free enterprise.
Inman
OCTOBER 21, 2024
Maurice Muhammad alleges a "monopoly" by NAR, the state Realtor association and the local MLS limits competition, inflates prices, and disproportionately affects minority brokers and agents.
Eyes on Housing
OCTOBER 15, 2024
In 2023, 64.8% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 62.6% recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). This marks the third highest share since the beginning of the series in 2009, after the high.
BiggerPockets
OCTOBER 30, 2024
Recently, we shared “8 Reasons Why REITs Are More Rewarding Than Rentals.” In short, studies show that REITs earn 2% to 4% higher annual returns than private real estate.
Housing Wire
OCTOBER 18, 2024
California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. In an email sent Friday morning, Provident said that it would “no longer be accepting new applications for condominiums ” effective that day. Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m.
Mortgagebroker News
OCTOBER 29, 2024
Tiff Macklem hailed Bank's latest move last week – but one financial advisor isn't so sure
Real Estate News
OCTOBER 10, 2024
The trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.
Inman
OCTOBER 18, 2024
The unique getaway completed in 2010 by late craftsman and entrepreneur Reggie Whibley is on the market for $1.75 million. The hunt is on for a buyer who doesn't care about cell or internet service.
Eyes on Housing
OCTOBER 15, 2024
Nationally, across the 86 million owner-occupied homes in the U.S., the average annual real estate taxes paid in 2023 was $4,112, according to NAHB analysis of the 2023 American Community Survey. Homeowners in New Jersey continued to pay the highest real estate taxes, paying an average of $9,572, 30.6% higher than the second highest, New.
BiggerPockets
OCTOBER 23, 2024
For real estate investors, the end of the year isn’t just about closing deals—it’s about making smart moves that could save you thousands on your tax bill.
Housing Wire
OCTOBER 31, 2024
Interior property data company CubiCasa announced the launch of an interactive touring product for listing agents. The new CubiCasa Tour product will create interactive, virtual property tours within minutes. The new product uses similar software to CubiCasa’s Floor Plans, another virtual listing tool that builds floor plans in five minutes or less.
Mortgagebroker News
OCTOBER 24, 2024
Canadians support stricter regulations to curb the impact of short-term rentals on rent prices and availability
Appraisal Buzz
OCTOBER 17, 2024
CoreLogic has announced initial residential and commercial wind and flood loss estimates for Hurricane Milton. According to the initial data analysis, CoreLogic estimates that industry-wide insured wind and flood losses from Hurricane Milton are expected to be between $17 billion and $28 billion, and that total amount of damage, including losses to uninsured property, will be between $21 billion and $34 billion.
Inman
OCTOBER 29, 2024
In a recent webinar, Spencer Rascoff, James Dwiggins and Jack Miller discussed the future of commissions and why agents and brokers should pay attention to their legal risk.
Eyes on Housing
OCTOBER 24, 2024
In 2023, the total number of second homes was 5.7 million, accounting for 4% of the total housing stock, according to NAHB estimates of the 2023 American Community Survey. Second homes have been in a steady decline over the past few years, from 7.15 million in 2020, to 6.5 million in 2022, dropping to 5.7.
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