Housing Wire

MARCH 23, 2024

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data. As rates were hitting year-to-date highs, the fear was that the Fed would go hawkish in their March meeting, which could push mortgage rates toward 8% and tank 2024 dema

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Mortgage Inventory New Listings Housing Market 521

Appraisal Buzz

MARCH 26, 2024

Mortgage rates will likely remain “higher for longer” than previously forecast, according to Fannie Mae’s Economic and Strategic Research (ESR) Group. Because the job market remains strong and inflation continues to rise faster than expected, the number of rate cuts by the Federal Reserve could be curtailed later this year. As a result, Fannie Mae has downgraded its expectations for total home sales and mortgage originations in 2024.

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Mortgage Housing Market Marketing Appraisal 396

Sacramento Appraisal Blog

MARCH 27, 2024

It’s been a heated week of conversation in light of the NAR lawsuit, and one part that feels misunderstood or even controversial is how appraisers might handle concessions ahead. Let’s talk about it. Any thoughts? UPCOMING SPEAKING GIGS: 4/11/24 Lindsay Carlisle Event (private) 4/25/24 HomeSmart iCare Realty (details TBA) 4/26/24 Prime Real Estate (private) 5/9/24 […] The post Do appraisers deduct value if there are concessions?

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Appraisal Realty Real Estate Marketing 382

Real Estate News

MARCH 27, 2024

State Farm, which stopped issuing new homeowner policies in the state last year, will no longer renew existing policies starting in July.

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Housing Wire

MARCH 26, 2024

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Moulder, David L. Bueker and Robert E. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. The lawsuits contest alterations made to Keller Williams’ profit-sharing program, with one of them seeking a court order to halt further payouts until the case concludes.

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Appraisal Buzz

MARCH 25, 2024

The Federal Housing Finance Agency’s (FHFA) fourth-quarter 2023 Foreclosure Prevention and Refinance Report shows that Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions during the last three months of 2023, raising the total number of homeowners who have been helped to 6,905,703 since the start of conservatorships in September 2008.

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Inventory Finance Business Appraisal 397

Real Estate News

MARCH 28, 2024

NAR this week sent letters asking government lending agencies to allow buyers to finance agent compensation. Thursday, it started getting answers.

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Housing Wire

MARCH 25, 2024

Last week was a pretty strong week for all the housing numbers. New supply and sales numbers keep climbing — both weekly and over last year. Home prices had a slight increase this week across the board. What does this means for home prices this spring? As the data comes in each week this year, I’ve been more optimistic about home sales volume growth than for home-price growth.

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New Listings Inventory Contracts Sellers 511

Appraisal Buzz

MARCH 25, 2024

Something that I like to do is to research the etymology of various words. This is essential in understanding older/historical texts, so that you can discern the usage of the word as it was intended by the author. It can be easy to merely overlay our own current usages and connotations and miss the true meaning and intent of the author’s words.

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Sellers Appraisal Real Estate Buyers 379

Inman

MARCH 29, 2024

The Council of Multiple Listing Services, a trade group of about 225 MLSs, united with Northwest MLS on Wednesday to pen amicus briefs exposing alleged flaws in the DOJ's statement of interest.

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Real Estate News

MARCH 26, 2024

A new report from Realtor.com looks at the cost gap between renting and owning and finds that many markets are now significantly more favorable to renters.

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Marketing 352

Housing Wire

MARCH 26, 2024

Mortgage rates rose this week as the yield on the benchmark 10-year Treasury note inched up. As of Monday, the yield on the 10-year U.S. Treasury note was about 4.25%, according to Tradeweb, up from 3.86% at the end of last year. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.16% on Tuesday, up from 7.07% one week earlier.

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Mortgage Inventory Marketing 508

Appraisal Buzz

MARCH 28, 2024

The national median payment applied for by purchase applicants increased to $2,184 in February, up 2.4% from $2,134 in January, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures homebuyer affordability by tracking how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey.

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Housing Market Mortgage Appraisal Marketing 370

Inman

MARCH 29, 2024

Corcoran told Yahoo! Finance she doesn't believe the effects of the settlement will be as earth-shattering as many make them out to be, but that "the confusion it's causing is amazing.

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Real Estate News

MARCH 23, 2024

The 30 broker-owned or hybrid MLSs not covered by NAR’s settlement agreement must decide whether to pay into a settlement fund, request mediation, or fight on.

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Housing Wire

MARCH 28, 2024

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options. According to the Insurance Information Institute , this exodus has resulted in Florida homeowners paying an average of nearly $4,000 a year in insurance , which is nearly three ti

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Insurance Design Marketing Legal 505

Appraisal Buzz

MARCH 25, 2024

The post Long as the dog likes me… appeared first on Appraisal Buzz.

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Appraisal 370

Inman

MARCH 28, 2024

The plaintiffs and defendants in the antitrust commission case indicated they would be available for a 3- to 4-week trial beginning Jan. 21, 2025, according to court filings earlier this week.

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Realtors Brokerage Agents 200

Real Estate News

MARCH 24, 2024

Criminals are using more sophisticated tactics and tools to defraud real estate professionals including brokerages and lenders.

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Brokerage Tools Real Estate 321

Housing Wire

MARCH 27, 2024

As first-time homebuyers contemplate their housing options, the financial calculus between renting and owning is essential. Against the backdrop of elevated mortgage rates and soaring home prices , discerning the evolving financial dynamics between renter-friendly and buyer-friendly markets is also paramount. A report released Tuesday by Realtor.com highlights a significant disparity in costs between buying and renting a starter home across the country’s 50 largest metropolitan areas.

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Marketing Buyers Mortgage Housing Market 493

Appraisal Buzz

MARCH 25, 2024

Truv , a provider of automated employment and income verification technology for mortgage lenders, banks and credit unions, is now a conditionally authorized report supplier for mortgage lenders using Fannie Mae’s Desktop Underwriter (DU) validation service. After final approval, which is expected later this year, Truv’s consumer-permissioned platform will be able to obtain and transmit income and employment data through the DU validation service, the company says in a release.

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Technology Mortgage Appraisal 370

Inman

MARCH 25, 2024

Premier Sotheby’s International Realty President and CEO Budge Huskey corrects the record on commissions — and the potential impact of the NAR settlement on buyers, sellers and agents.

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Real Estate News

MARCH 25, 2024

Tax time can be confusing for agents, but tracking mileage, making quarterly payments and hiring an accountant can pay off. A veteran CPA explains.

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Agents 315

Housing Wire

MARCH 26, 2024

Home prices maintained their upward trajectory in the opening month of the year. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6% annual gain in January, up from a 5.6% gain in December , according to a report released Tuesday. It was the seventh consecutive month of annual price growth and the biggest increase since November 2022.

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Buyers Inventory Housing Market Realtors 493

Appraisal Buzz

MARCH 29, 2024

Mortgage rates decreased slightly this week, with the average rate for a 30-year fixed-rate mortgage falling to 6.79%, down from 6.87% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.32%. “Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” says Sam Khater, chief economist for Freddie Mac, in a statement.

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Mortgage Inventory Appraisal Marketing 367

Inman

MARCH 25, 2024

Coldwell Banker's recent survey reveals key insights into homebuyer and seller attitudes, offering guidance for real estate professionals.

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Real Estate Sellers 200

Real Estate News

MARCH 26, 2024

HomeServices of America’s decertification request was denied, and the case will now shift to other post-verdict motions, including a request for a new trial.

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Housing Wire

MARCH 28, 2024

Seemingly forever, the average time between reaching a sales agreement and closing on that property has hovered around 45 days — a month and a half. It’s not something consumers think about much when they set out to buy a first home or plan to “upsize” to accommodate life changes. Instead, they think about finding a home in a great neighborhood or perhaps in a good school district.

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HOA Property Management Real Estate Agent Technology 488

Appraisal Buzz

MARCH 27, 2024

In this week’s episode, host Hal Humphreys speaks with Toni Moss, CEO of AmeriCatalyst LLC and Speaker on Climate Change and its effects on the mortgage industry. Moss discusses her experience in the real estate industry, her research and findings on extreme climate conditions, and how these impact home insurance, mortgages, and real estate at large.

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Mortgage Real Estate Insurance Appraisal 365

Inman

MARCH 29, 2024

Follow this step-by-step blueprint from Jimmy Burgess, and your listing appointments will be like Chick-fil-A on a Sunday — closed.

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Technology Agents Marketing 198

Real Estate News

MARCH 27, 2024

Even as settlements continue to roll in, a panel of judges will hear arguments tomorrow about merging the remaining buyer agent commission lawsuits.

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Agents Buyers 299

Housing Wire

MARCH 28, 2024

One of the most critical moments in any race is the very beginning. A mistake at the start can snatch away a win before the race is even underway. Any coach will tell you that springing into action the moment the shot is fired is a critical success factor for any athlete. A race is a useful analog for the mortgage business, especially as it relates to the refinance business.

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Mortgage Technology Tools Business 488

Appraisal Buzz

MARCH 25, 2024

As most would expect, last year was a disappointing year for home flipping, as affirmed by ATTOM’s 2023 U.S. Home Flipping Report. The firm’s data show that 308,922 single-family homes and condos in the U.S. were flipped in 2023 – down 29.3% from 436,807 in 2022 and the largest annual drop since 2008. The report further reveals that as the number of homes flipped by investors declined, so did flips as a portion of all home sales, from 8.6% in 2022 to 8.1% last year.

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Renovations Investors Inventory Sellers 334

Inman

MARCH 26, 2024

The Agency's Ben Belack shares his thoughts on NAR settlement news, the current industry landscape and the American Real Estate Association ahead of Season 2 of the popular Netflix real estate reality TV show.

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