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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Real Estate Realtors Agents Real Estate Agent 489

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

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 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 491

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 396

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 191

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 425

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 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 300

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 175

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?

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Buyers Mortgage Tools Real Estate 449

Appraisal Buzz

AUGUST 15, 2024

As weekly average mortgage rates decline to their lowest point in more than a year, the median housing payment for American homebuyers has reached its lowest point since February. During the four weeks ending August 11, the average home payment for a buyer was $2,588. This is an increase of just 1% year-over-year and is roughly $250 below the all-time high of April, the lowest gain in five years, according to a new Redfin study.

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Buyers Inventory Agents Mortgage 394

Real Estate News

AUGUST 16, 2024

VP Kamala Harris announced a plan to provide thousands in down payment assistance and incentivize more construction at the local level.

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Construction 313

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 178

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 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 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 279

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 168

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 450

Clients Agents Buyers Sellers 450

Appraisal Buzz

AUGUST 15, 2024

According to the latest Realtor.com Rental Report , all 50 major U.S. metro areas prefer renting to buying a starting home as rents continue to decline in July. Rising mortgage rates, rising housing prices, and declining rents all contribute to the over $1,000 savings when renting as opposed to buying, which is a pattern that was observed in February.

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Marketing Inventory Investors Mortgage 389

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 284

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 170

Housing Wire

AUGUST 12, 2024

Piggyback mortgages — those involving a first and second lien at origination — are on the rise among first-time and low- to moderate-income borrowers who face affordability challenges. This is according to a CoreLogic report published on Monday. The share of piggybacked Federal Housing Administration (FHA) home purchase loans rose by more than seven percentage points from June 2022 to June 2024, going from 10.8% to 18%.

Mortgage 444

Mortgage Finance Marketing 444

Appraisal Buzz

AUGUST 14, 2024

In this episode of the Buzzcast, Hal sits down with Scott Reuter, Chief Appraiser at Freddie Mac, to dive deep into the latest updates in appraisal regulations. As Scott gears up for his appearance at Valuation Expo, he shares insights into the evolving standards at Freddie Mac, including the focus on the acceptable age of appraisal reports and increased accountability for appraisers.

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Appraisal Valuation Marketing Modernization 370

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 13, 2024

Veteran Century 21 agent Yuk-Ying Mui, 56, vanished Aug. 9. Rescue teams have narrowed their search to a property outside Toronto she was due to visit on the morning of her disappearance.

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Agents Brokerage 172

Housing Wire

AUGUST 13, 2024

As many as half of surveyed U.S. adults said that retiring at age 65 is “unrealistic,” instead saying that age 74 is a more attainable goal to reach full retirement. This is according to a survey conducted by Equitable , a financial services provider. “Equitable’s survey revealed that nearly half of consumers (47%) believe it is unrealistic for them to retire before or at the traditional retirement age of 65,” the re s ults said.

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Development 434

Appraisal Buzz

AUGUST 13, 2024

Homebuyers who are purchasing for the first time and have low to moderate incomes are disproportionately affected by elevated mortgage rates and home prices, according to a new CoreLogic study. Rising property values, cripplingly high interest rates, and two years of rising inflation are pushing more and more homebuyers to take out expensive second mortgages.

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Finance Buyers Mortgage Government 370

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 265

Buyers Mortgage 265

Inman

AUGUST 16, 2024

A number of unique software products have emerged in 2024, which is proving to be a pivotal year for the industry. From AI search to AI sales coaching, a number of innovators have the chance to make waves before the year is out.

Technology 162

Technology Real Estate Brokerage Agents 162

Housing Wire

AUGUST 12, 2024

Many brokerage firms are trepidatiously moving to a model with no cooperative compensation in light of the impending business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement. Peter Voss at 3% Listing Co. is wondering what took them all so long to make the switch. Voss founded the Iowa-based 3% Listing Co. in 2023.

Brokerage 421

Brokerage Agents Sellers Buyers 421

Appraisal Buzz

AUGUST 12, 2024

Deciding on a place to call home can be a tough process. You’ll need to balance things like the cost of living with job opportunities, quality of education and safety. Personal preference also comes into the equation, as you’ll want to live somewhere with the types of attractions, recreational opportunities and weather that suit you. Fortunately, there are 50 states to choose from, from frigid Alaska to sunny Florida.

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Law Transportation Insurance Appraisal 370

Real Estate News

AUGUST 16, 2024

This week’s Mega Agent Camp was part pep rally, part confidence booster during a time of change. “I don’t fear for real estate agents…the good ones will adapt.

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Real Estate Agent Real Estate Agents 238