Housing Wire
SEPTEMBER 30, 2023
Why are mortgage rates rising? This is a question many people are asking — even some of the Federal Reserve members. We have had back-to-back weeks of the bond market getting wild since the key 10-year yield level of 4.34% broke higher. It didn’t help that the Fed was hawkish after the Fed meeting , as their forward outlook surprised some market players.
Sacramento Appraisal Blog
OCTOBER 4, 2023
Ten times more housing supply!!! That’s what 2007 had compared to right now. Today I want to share a stunning supply visual for Sacramento, and talk briefly about what’s happening with sellers and prices. Enjoy if you wish. UPCOMING (PUBLIC) SPEAKING GIGS: 10/4/23 KW Sac Metro Big Market Update (register here) 10/6/23 How to Think […] The post 2007 had ten times more housing supply than today first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Real Estate News
OCTOBER 2, 2023
In a note signed by CEO Glenn Kelman and other Redfin leaders, the company said “NAR isn’t the future.
Eyes on Housing
OCTOBER 5, 2023
NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the.
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Housing Wire
OCTOBER 6, 2023
In a surprising twist, the National Association of Realtors has announced a change in how interprets its Participation Rule, which requires listing brokers to provide buyer brokers an offer of compensation in order to list on the multiple listing service (MLS). While previously NAR has stated that the offer of compensation could be as little as a penny or a dollar, in a reversal of this stance, NAR is now saying that listing brokers can offer nothing and still comply with the rule, as first repo
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
OCTOBER 6, 2023
The brokerage giants have agreed to significant policy changes as part of their settlement agreements in the Sitzer/Burnett and Moehrl commissions cases.
George Dell
OCTOBER 4, 2023
EBV (Evidence Based Valuation) principles continue to update from legacy “appraisal” practices. Here we hope to have a quick look at the upsides and downsides of EBV, compared to traditional, judgment-based “methods and techniques.” Editor’s Note: This is Standards, part 3.16 of George Dell’s series on How Do I Move to EBV? Links to the […] The post EBV Pro or Con?
Housing Wire
OCTOBER 3, 2023
Mortgage rates and bond yields kept rising Tuesday as the job openings unexpectedly increased more than anticipated. But is that job openings data legit today? And will job openings continue higher, pushing mortgage rates even higher in the future? I believe today’s job openings data needs some context, but it didn’t matter to bond traders as bond yields shot up after the report.
Inman
OCTOBER 6, 2023
Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors.
Speaker: Dylan Secrest
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Real Estate News
OCTOBER 4, 2023
A Homes.com exec told Real Estate News that its “playbook for growth is working,” but some competitors and outside observers see the data differently.
The Appraiser Coach
OCTOBER 3, 2023
“Hey, Boss, do you have a second?” If you find yourself getting this question for answers you feel your employees should already know, it might be about time to update your procedural manual and work on your business—you need time for this too, not just tirelessly pumping out appraisals day in and day out. Maybe you’re thinking, “I’m only a single person entity.
Housing Wire
OCTOBER 6, 2023
Like Anywhere Real Estate Friday morning, the terms of RE/MAX’s $55 million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public. Similar to Anywhere’s deal, the RE/MAX agreement stipulates that the firm make significant changes to what it requires of its agents and franchisees. Final court approval of the settlement is expected in early 2024.
Inman
OCTOBER 3, 2023
The antitrust enforcer suggests the rule changes in the proposed deal don't go far enough. Plaintiffs' attorneys say the agency has failed to articulate its specific concerns.
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Real Estate News
OCTOBER 2, 2023
The Southeast MLS Alliance and Coast 2 Coast MLS Data Share in Florida represent the latest initiatives to expand data sharing among MLSs.
Miller Samuel
OCTOBER 3, 2023
This webinar was held during the previous week with several hundred people in attendance - I didn't get the recording soon enough to post last Friday. Noah and John at Urban Digs invited me to talk about my approach to valuing outdoor space in NYC. I documented my approach to its valuation back on May 5, 2010 on my Matrix blog , after years of getting calls from real estate agents asking how to value them, this post was born: [Terra Logic] Understanding The Value of Manhattan Apartment Outdoor S
Housing Wire
OCTOBER 4, 2023
Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported. Purchase mortgage application volume, in particular, slowed considerably for the week ending Sept. 29, down 22% from a year ago, according to unadjusted data.
Inman
OCTOBER 2, 2023
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships.
Real Estate News
OCTOBER 5, 2023
The average weekly mortgage rate leapt up again this week, and 8% "does not seem unlikely.
Eyes on Housing
OCTOBER 6, 2023
Job growth remained solid in September as the Fed fights against inflation. In fact, the recent jobs data has been stronger than most economists expected and is a reminder that GDP growth for the third quarter will be very strong and inflation risks persist. Total nonfarm payroll employment increased by 336,000 and the unemployment rate remained at 3.8% in September.
Housing Wire
OCTOBER 6, 2023
With 30-year fixed mortgage rates climbing to a 23-year high, the Mortgage Bankers Association (MBA) called on the Federal Reserve to bring some certainty to financial markets. “It is time, and very important for the Fed to make clear two statements — the Fed is at the end of its rate hikes; the Fed will not consider selling its mortgage-backed securities (MBS) holdings until and unless the housing finance market has stabilized and mortgage-to-Treasury spreads have normalized,” MBA president and
Inman
OCTOBER 4, 2023
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.
Real Estate News
OCTOBER 2, 2023
This is the second time the settlement agreement reached by MLS PIN in the Massachusetts buyer-broker commissions lawsuit has come under fire.
Eyes on Housing
OCTOBER 2, 2023
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in August. It is the fourth consecutive increase since May 2023, standing at a seasonally adjusted annual pace of $879.9 billion. However, total private residential construction spending is still 3.1% lower compared to a year ago. The total construction monthly increase is attributed to more.
Housing Wire
OCTOBER 6, 2023
Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable in a shrinking market.
Inman
OCTOBER 2, 2023
A hybrid property is a private getaway for the homeowner that's only used sporadically. It can also be a source of additional rental income.
Real Estate News
SEPTEMBER 30, 2023
The real estate software company believes innovation is critical in a down market, says “there is always a way through.
Eyes on Housing
OCTOBER 3, 2023
Financial conditions continue to tighten, as the 10-year Treasury rate increased to above 4.75%. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth forecasts) was a surprise jump in August for the total number of open, unfilled jobs.
Housing Wire
OCTOBER 6, 2023
Top advocates for the wholesale channel criticized the increased volume of loan buybacks from government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac amid a shrinking mortgage market. In a session about brokers’ influence on national policy during AIME Fuse 2023 in Las Vegas on Friday, trade group representatives and wholesale executives said that loan repurchases can be “catastrophic” for some lenders, which will ultimately affect brokers.
Inman
OCTOBER 3, 2023
The homeseller plaintiffs agreed to a two-month extension of deadlines related to a proposed deal with MLS PIN after the federal agency asked for time to assess the deal's "competitive impact.
Real Estate News
OCTOBER 6, 2023
The latest jobs report found that nearly twice as many jobs were added in September as expected, which could lead to even higher interest rates.
Eyes on Housing
OCTOBER 5, 2023
The share of homes with patios edged up to another record high last year. Of the roughly one million single-family homes started in 2022, 63.3% percent came with patios—up from 63.0% in 2021, and the seventh consecutive year of setting a new record. The source for these numbers is NAHB tabulation of data from the Survey of Construction (conducted by.
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