Housing Wire

AUGUST 12, 2024

There are just five days to go until the business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement , but the trade association is not out of the lawsuit woods just yet. In a lawsuit filed on Monday by Douglas Hardy, Glenn Champion and Dylan Tent in U.S. District Court for the Eastern District of Michigan , the plaintiffs claim the requirement that all Realtors and brokers in Michigan be member of NAR, their state Realtor

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Appraisal Buzz

AUGUST 15, 2024

The U.S. foreclosure market experienced a notable uptick in July 2024, with foreclosure filings increasing by 15% from the previous month, according to the latest report from ATTOM Data, a land, property, and real estate data firm. A total of 31,929 properties across the nation faced foreclosure actions, which include default notices, scheduled auctions, or bank repossessions.

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Marketing Real Estate Housing Market Development 448

Real Estate News

AUGUST 12, 2024

The plaintiffs say they shouldn’t have to join NAR and other associations to access the MLS, especially if buyer-broker compensation is no longer guaranteed.

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Agents Buyers 337

Inman

AUGUST 12, 2024

The plaintiffs protest "compulsory" Realtor membership to access the MLS after the removal of "the guaranteed broker commission" from the MLS.

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Agents Realtors Brokerage 200

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

Construction

Housing Wire

AUGUST 16, 2024

One key data line that is flagging a path to recession is the loss of residential construction workers. The number of workers who build single-family and multifamily homes and do remodeling work tend to decline before every recession as higher interest rates dispositionally impact the economy through housing. While the unemployment rate has increased recently , jobless claims have yet to rise to a level that warrants a job-loss recession.

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Construction New Listings Inventory Finance 496

Real Estate News

AUGUST 13, 2024

The Keller-Williams co-founder told a crowd of the faithful that he sees a soft landing for the economy and success for agents who are ‘ready to jump’ in 2025.

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Marketing Agents 313

Miller Samuel

AUGUST 15, 2024

With the recent financial market drama in Japan over the Yen carry trade, I was tapped to do interviews on the impact on the residential housing market and the change in thinking towards Fed rate cuts in the fall. Business of Home Podcast – Rate Cuts In Sight Bloomberg Radio – Fed Rate Cuts Could Trigger Housing Demand, Rent Drop The post August Digital Media Interview Wrap-up On Rate Cuts first appeared on Miller Samuel Real Estate Appraisers & Consultants.

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Real Estate Housing Market Business Appraisal 195

Housing Wire

AUGUST 14, 2024

Mortgage rates continued to recede during the past week, with the market anticipating a Federal Reserve rate cut next month and the U.S. economy showing signs of weakening. At HousingWire ‘s Mortgage Rates Center , the 30-year conforming loan rate averaged 6.66% on Wednesday. That was 11 basis points (bps) lower than a week ago and 35 bps lower than two weeks ago.

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Mortgage Tools Realtors Sellers 469

Appraisal Buzz

AUGUST 16, 2024

Kahane & Associates PA Founder and Managing Partner Robert S. Kahane Esq. This piece originally appeared in the August 2024 edition of MortgagePoint magazine, online now. Kahane & Associates PA is a full-service law firm based in Sunrise, Florida, that represents secured and unsecured creditors and provides a full range of legal industry, from foreclosure and bankruptcy representation to litigation, evictions, collections, loss mitigation, and REO closings.

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Legal Law Clients Technology 397

Advertiser: Trellis

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

Real Estate

Real Estate News

AUGUST 15, 2024

On the Real Estate Insiders Unfiltered podcast, Nykia Wright pleaded with real estate pros to keep complaints in the family while pledging to earn their trust.

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Real Estate 299

George Dell

AUGUST 14, 2024

I just attended the American Statistical Association joint conference in Portland. I learned some things: 1) I have forgotten a lot from my extensive graduate stats classes. 2) My narrow focus on valuation and risk has narrowed my world. 3) “Statistics” has widened, progressed, advanced, and gentrified. Statistics has progressed. Valuation has not progressed.

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Valuation 195

Housing Wire

AUGUST 10, 2024

Have lower mortgage rates positively impacted the housing demand data yet? Some people have been very disappointed with the data so far, so I wanted to take an in-depth look with this week’s tracker to see what lower rates have done to these key data lines. Let’s look at two of those data lines today to see if we can spot a positive trend.

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Mortgage Inventory Marketing Housing Market 472

Appraisal Buzz

AUGUST 14, 2024

A new report from Realtor.com examines the U.S. markets that have the “it” factor, as Columbus, Ohio; Knoxville, Tennessee; and Louisville, Kentucky claimed the top three spots in terms of popularity with online searchers over the past year. “With a mix of affordability and growing inventory, these markets were sought out by online home shoppers, earning them a spot on our Most Popular Markets ranking,” said Realtor.com Chief Economist Danielle Hale.

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Housing Market Marketing Home Value Inventory 397

Real Estate News

AUGUST 14, 2024

Ryan Schneider tells Real Estate News that being the “first mover and the fastest learner” helped the brokerage prepare its agents for the changes ahead.

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Brokerage Real Estate Agents 281

Inman

AUGUST 13, 2024

With all the commission confusion as we near the Aug. 17 implementation deadline, compliance expert Summer Goralik is here to answer your burning questions, starting with concessions.

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Sellers Marketing Realtors Brokerage 192

Housing Wire

AUGUST 12, 2024

More evidence is emerging that the recent decline in mortgage rates is prompting more borrowers to refinance. In its July 2024 Market Advantage report released on Monday, mortgage technology firm Optimal Blue reported that refinance demand, measured by the level of locked loans, grew to its highest point since September 2022. Data from HousingWire ‘s Mortgage Rates Center shows that rates were in the midst of an upswing in September 2022, with the average rate for 30-year conventional loan

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Government Mortgage Lending Technology 455

Appraisal Buzz

AUGUST 13, 2024

Key Highlights Single-family existing-home sales prices rose in 89% of measured metro areas—199 of 223—in the second quarter, down from 93% in the previous quarter. The national median single-family existing-home price rose 4.9% from a year ago to $422,100. Twenty-nine markets (or 13% of the 229 tracked markets) experienced double-digit annual price appreciation (down from 30% in the prior quarter).

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Buyers Mortgage Home Value Marketing 397

Real Estate News

AUGUST 10, 2024

For some agents, going above and beyond is just part of the territory — and can be the key to closing the deal.

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Agents 281

Inman

AUGUST 10, 2024

The Consumer Federation of America raised eyebrows and hackles with its advice to pay only the equivalent of a 2 percent commission for both real estate purchases and sales.

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Real Estate Brokerage Agents Marketing 192

Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. The divisional closure comes 1.5 years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. The company will focus on the third-party origination (TPO) space going forward. Employees told HousingWire, anonymously out of fear of retaliation, that leadership announced the closure of its branches during an “all-hands” call on Friday.

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Retail Mortgage Loan Officers Business 452

Appraisal Buzz

AUGUST 12, 2024

Numerous financial experts advise that you should not pay rent above thirty percent of your gross income, according to a new study from BadCredit.org. But can that still be possible in 2024 with rental rates rising almost every day? BadCredit.org examined two important variables—the median yearly salary for singles and the average monthly rental costs in 100 major American cities—to determine the amount of money the typical American spends on rent in the country.

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Tenants Appraisal 397

Real Estate News

AUGUST 15, 2024

In a webinar for agents, Real’s president discussed rule changes and best practices, noting that more than a third of agents don’t even know about the lawsuits.

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Buyers Agents 271

Inman

AUGUST 12, 2024

Here’s how you can effectively guide your clients to the right financing options for their dream vacation home.

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Clients Finance 191

Housing Wire

AUGUST 16, 2024

In my work, I talk with many seniors. Many are reluctant to leave their homes even when those homes are no longer suitable for their needs. Sometimes, the concern is emotional, but more often than not, it’s financial. What happens if they sell their current home but can’t cover the costs of a new place, especially in a market characterized by record-high home prices?

Buyers 448

Buyers Mortgage Tools Real Estate 448

Appraisal Buzz

AUGUST 13, 2024

As the rental market continues to cool, property managers are increasingly offering concessions to attract renters, according to new data from Zillow. The post-pandemic surge in apartment construction has given renters more options, leading to a softening in rent growth and an uptick in special deals. In June 2024, the number of completed multifamily units reached a 50-year high, with nearly 60,000 new units coming available.

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Marketing Construction Property Management Appraisal 396

Real Estate News

AUGUST 16, 2024

Consolidation has slowed, and data sharing is on the rise. Some members fear more competition for listings, but for MLSs, it’s “an expansion-based opportunity.

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Inman

AUGUST 15, 2024

Olympic gold medalist Simone Biles isn't sitting back and relaxing after a successful run at the 2024 Paris Olympic Games. Now that the gymnast is back in Texas, she is returning to the ongoing construction of her dream mansion.

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Construction Design 187

Housing Wire

AUGUST 13, 2024

As more brokerages and agents contemplate moving away from a cooperative compensation model , many are grappling with some tough questions, the most vexing probably being: What do I do if a seller is only willing to contribute part of the buyer broker’s fees, or none at all? According to Anthony Lamacchia , the broker-owner of Lamacchia Realty , he and his agents have seen disputes over buyer broker fees for years, highlighting the importance of having a signed buyer representation agreement , w

Clients 449

Clients Agents Buyers Sellers 449

Appraisal Buzz

AUGUST 14, 2024

Mortgage relief is on the horizon for U.S. homebuyers as a strong economy bolsters the housing market, according to the Realtor.com 2024 Forecast Update. The report predicts a year-end rise in both for-sale inventory and the median sales price of existing homes, projecting increases of 14.5% and 4.6%, respectively, despite ongoing challenges from elevated mortgage rates.

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Housing Market Marketing Mortgage Inventory 395

Real Estate News

AUGUST 15, 2024

Mortgage rates were relatively flat this week, remaining just under 6.5%, but buyers appear to be biding their time and waiting to see if rates fall further.

Buyers 257

Buyers Mortgage 257

Inman

AUGUST 16, 2024

A record 8.5 percent of all U.S. homes are worth $1 million or more, up from 7.6 percent last year and 4 percent before the pandemic, according to a new Redfin analysis. California is adding them faster than other states.

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Inventory Marketing Mortgage 186

Housing Wire

AUGUST 15, 2024

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. The Real Brokerage is going all out to prepare its agents as it has created a “ playbook ” for navigating the new industry realities.

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Brokerage Training Agents Clients 445