Housing Wire
NOVEMBER 25, 2023
Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. However, seasonality tends to rule the day eventually.
Sacramento Appraisal Blog
NOVEMBER 28, 2023
It can be a REALLY bad idea to pull comps from the other side of the freeway, but not always. Today I have some thoughts about location, comp selection, and lenders freaking out when schools are mentioned in appraisal reports. UPCOMING (PUBLIC) SPEAKING GIGS: 11/30/23 Safe CU “Preparing for a Successful New Year” 12/08/23 Free […] The post Pulling comps from the other side of the freeway first appeared on Sacramento Appraisal Blog.
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Real Estate News
NOVEMBER 27, 2023
The case takes aim at NAR and local as well as national brokerages, while calling out the current system as a way to protect ineffective agents.
Inman
NOVEMBER 27, 2023
Fidelity National Financial acknowledges that a "cybersecurity incident" disrupted the provision of title and escrow services and other technology and mortgage services.
Advertiser: Trellis
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Housing Wire
NOVEMBER 28, 2023
The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. That’s because the FHFA’s conforming loan limit increase is based on a formula related to home-price data in the third quarter of each year.
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Real Estate News
DECEMBER 1, 2023
Real Estate News has selected the top newsmakers in a year shaped by trials — of all kinds — and resilience in the face of epic challenges and opportunities.
Inman
NOVEMBER 27, 2023
Jason Haber, founder of The NAR Accountability Project, believes that more must be done to keep agents from paying for NAR's mistakes.
Housing Wire
NOVEMBER 30, 2023
Mortgage rates headed lower this week as the 10-year Treasury yield dropped below 4.3% for the first time since September, according to new data from Freddie Mac. The 30-year, fixed mortgage rate averaged 7.22% for the week ending Nov. 30, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.29% and up from 6.49% the same week a year ago.
Eyes on Housing
NOVEMBER 28, 2023
National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro areas had positive home price appreciation in September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth.
Speaker: Dylan Secrest
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Real Estate News
NOVEMBER 30, 2023
A year ago, many economists forecast that rates would fall within the 5-6% range by the end of 2023, but the economy didn’t behave as expected.
Inman
NOVEMBER 27, 2023
Estate planning is of prime importance for homeowners and their heirs. Properties are among the largest and most complex assets to be distributed — particularly when they’re luxury homes worth millions of dollars.
Housing Wire
DECEMBER 1, 2023
The U.S. Department of Housing and Urban Development (HUD) on Friday published a proposal that would require public housing agencies (PHA) to provide 30 days’ notice before filing an eviction notice in court for nonpayment of rent. PHAs with tenants in public housing and owners of properties participating in HUD multifamily project-based rental assistance programs would need to provide “written notification at least 30 days” before a court filing for an eviction due to rent nonpayment.
Eyes on Housing
NOVEMBER 27, 2023
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the third quarter of 2023. For the quarter, 104,000 multifamily residences started construction. Of this total, 101,000 were built-for-rent. The market share of rental units of multifamily construction starts was near an all-time high of 98% for the third quarter as the.
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Real Estate News
NOVEMBER 30, 2023
Rates edged closer to the 7% mark this week, improving affordability. Coupled with a small bump in listings, that could mean more year-end sales.
Inman
NOVEMBER 29, 2023
Mesnick and his business partner Chris Dalto have left Compass and brought their Seattle-based luxury team, MDG Residential, to Real. Within its first year, the team closed more than $100 million in sales volume.
Housing Wire
NOVEMBER 27, 2023
If you follow real estate data closely, you’ll know that inventory rose late into November. You also know that new listings are up over last year, too. However, what you might not know is that home sales are climbing, which is a good sign. Watch the video above to get the latest housing market update from Altos Research. Short on time? Check out some key data takeaways below for the week ending Nov. 27.
Eyes on Housing
DECEMBER 1, 2023
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.2% in October, after a dip in September. It stood at a seasonally adjusted annual pace of $884 billion. Total private residential construction spending is 0.7% higher compared to a year ago. This was the first year-over-year increase since December 2022.
Real Estate News
NOVEMBER 28, 2023
Fidelity National Financial, the nation’s largest title company, coming back “office by office” as real estate agents and loan officers find low-tech solutions.
Inman
NOVEMBER 27, 2023
More than a third of all home sales featured a concession in the past 3 months, according to new data and agents who told Inman that they're beginning to see signs of a buyer's market unfold.
Housing Wire
NOVEMBER 27, 2023
Nearly three months after filing an initial complaint accusing Gary Keller and Keller Williams of inflating key profitability metrics including company sales and profits to convince individuals to purchase Keller Williams Regions and Market Centers, John Davis has made tweaks to his lawsuit. In his initial filing, in addition to Keller and Keller Williams, Davis also names former KW president Josh Team, Business MAPS Ltd. and Business MAPS Management LLC as defendants.
Eyes on Housing
NOVEMBER 28, 2023
The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter of 2023, 65% were absorbed into the market in the first three months following completion. 83% of 3,467 condominiums completed in the second quarter were absorbed within the first three.
Real Estate News
NOVEMBER 28, 2023
The 5.5% increase for 2024 “seems like a pretty good indication,” that the Federal Housing Finance Agency expects home prices to keep increasing.
Inman
DECEMBER 1, 2023
The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months.
Housing Wire
NOVEMBER 30, 2023
Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). As a result, NAR’s Pending Home Sales Index fell to a reading of 71.4, down from 72.6 in September.
GoForrmz
NOVEMBER 29, 2023
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Real Estate News
NOVEMBER 29, 2023
Forecasts from Realtor.com and Bright MLS offer varying degrees of optimism, with a split on inventory and an eye on wild cards like inflation and the election.
Inman
NOVEMBER 29, 2023
Annual home price appreciation of 5.5 percent pushes FHA loan limits up to a minimum of $498,257 in affordable markets, and to a ceiling of up to $1.72 million in high-cost states like Alaska and Hawaii.
Housing Wire
NOVEMBER 28, 2023
The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2024 to $498,257 and $1,149,825, respectively, the FHA announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. 1, according to the publication of FHA Mortgagee Letter (ML) 2023-21.
The Appraiser Coach
NOVEMBER 28, 2023
We all have to work with other people. Whether it’s customers, real estate folks, employees, homeowners, you name it. For many of us, the hardest part about working with other people is breaking bad news. Many of us prefer to just ignore a problem and hope it goes away, rather than actually talking to someone about it and fixing it. I’d like to share with you a practice that I use when addressing these kinds of issues.
Real Estate News
NOVEMBER 30, 2023
Nationally, pending sales slid 1.5% in October as mortgage rates spiked and buyers retreated.
Inman
DECEMBER 1, 2023
You loved last week's good news on mortgage rates, and this week brought even more smiles to real estate agents and brokers.
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