Housing Wire

SEPTEMBER 10, 2023

Last week we saw a noticeable decline in new listings and active inventory was barely positive. Does this mean housing inventory has begun its seasonal decline? Here are the weekly numbers: Weekly active listings rose by only 343 Mortgage rates rose from 7.08% to end the week at 7.22% Purchase apps fell 2 % week to week Weekly housing inventory At first glance, it seems we’re now seeing the seasonal active inventory decline since new listings data fell noticeably and active listings slowe

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Inventory New Listings Retail Mortgage 518

Sacramento Appraisal Blog

SEPTEMBER 12, 2023

Is it 2007 again? There’s so much talk online about today’s housing market being like 2007, but what are the stats showing? Today I want to walk through three parts of the market. I suspect many locations are experiencing the same trend as Sacramento too. Skim by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: […] The post Is it 2007 again in the housing market?

Housing Market 345

Housing Market Marketing Real Estate Appraisal 345

Real Estate News

SEPTEMBER 13, 2023

Some called the latest report “disappointing,” but economists still expect a downward trend in the months ahead.

Mortgage 317

Mortgage 317

Eyes on Housing

SEPTEMBER 15, 2023

Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877. Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest.

Construction 213

Construction Marketing 213

Housing Wire

SEPTEMBER 13, 2023

The growth rate of inflation has been falling for a year, but mortgage rates are still near multi-decade highs. Why? While it is true that mortgage rates traditionally fall alongside inflation, I believed 2023 was going to be about the labor market. This was the core premise of my 2023 forecast, and so far it has worked. In my 2023 forecast , I set the range on the 10-year yield between 3.21%-4.25%, emphasizing that the bond yields can go lower than 3.21% only if the labor market breaks — which

Mortgage 493

Mortgage Insurance Marketing Housing Market 493

Inman

SEPTEMBER 10, 2023

Although broker Troy Palmquist and DOORA Creative Director Janet Pozos know that brokers expect accountability and investment from their agents, the agents need the same thing from their leaders.

Investing 203

Investing Agents Real Estate Brokerage 203

Eyes on Housing

SEPTEMBER 14, 2023

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) ticked up 0.1% in August (not seasonally adjusted). Prices have also increased 0.1% over the past 12 months as year-over-year price growth has slowed from 4.9% in January 2023 and 14.7% in August 2022. The 12-month increase is the smallest.

Construction 197

Construction 197

Housing Wire

SEPTEMBER 10, 2023

Rate lock volume fell 1.5% in August, the third consecutive decline as mortgage rates climbed to the highest level in more than 20 years. Overall lock volumes were down 9.5% over the last three months and were 55% below that of August 2022, according to Black Knight ’s August originations market monitor report. “Interestingly, we saw very slight upticks in both cash-out and rate/term refinance locks in August,” Andy Walden, VP of enterprise research for Black Knight, said in a statement.

Housing Market 493

Housing Market Marketing Mortgage 493

Inman

SEPTEMBER 11, 2023

The luxury sector has always led the real estate industry in terms of innovation. High-end homes frequently include cutting-edge features, and high-end clients raise the bar with aspirational ideas and ambitious expectations. So it’s only natural that high-end agents also try to push the boundaries of what’s possible.

Agents 200

Agents Tools Real Estate Clients 200

Real Estate News

SEPTEMBER 10, 2023

Monika Kaszycka says buyer’s agents already work hard, and they’ll have to prove their value even more if buyers have to pay them upfront.

Buyers 312

Buyers Agents 312

George Dell

SEPTEMBER 15, 2023

Assume what condition your assumption is in! Editor’s Note: This is Standards, part 3.13 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Assumptions are a critical part of all analyses or reasoning logic. Assumptions about assumptions are interesting. Two starting points are assumed: 1) the […] The post Assumed Assumption Addiction?

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Housing Wire

SEPTEMBER 13, 2023

Local Logic , a location intelligence platform that digitizes the built world, has teamed up with Plunk , an AI-driven analytics company, to empower end-users with the technology and insights they need to accelerate and improve home purchase decisions, the company announced on Tuesday. Plunk’s AI-powered home analytics platform offers real-time insights into home valuation , risk assessment, and remodeling possibilities.

Real Estate 467

Real Estate Valuation Investors Technology 467

Inman

SEPTEMBER 14, 2023

Judge Patti Saris, of the U.S. District Court in Massachusetts, preliminarily approved the deal after the settlement fund was restructured.

Realtors 199

Realtors 199

Real Estate News

SEPTEMBER 15, 2023

They've structured the brokerage to avoid silos, which makes Real's rev share model better for agents and teams, says Sharran Srivatsaa.

Brokerage 306

Brokerage Agents 306

The Appraiser Coach

SEPTEMBER 12, 2023

A topic that comes up a lot when I talk with people is how they should dress. Are flip-flops okay? What about a tank top?

Inspection 195

Inspection Business Real Estate Agent Government 195

Housing Wire

SEPTEMBER 14, 2023

Mortgage rates inched back up this week and remain anchored north of 7% as investors focus on the impact of rising headline inflation ahead of next week’s Fed rate decision. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Sept. 14, up from last week ’s 7.12%.

Mortgage 459

Mortgage Inventory Buyers Investors 459

Inman

SEPTEMBER 12, 2023

Luxury agent Shelton Wilder, CEO of the Shelton Wilder Group, joins Aaron Kirman at AKG | Christie's International Real Estate after closing $150 million in sales volume in 2022.

Real Estate 199

Real Estate Agents Brokerage 199

Real Estate News

SEPTEMBER 15, 2023

Canceled deals impacted nearly 16% of homes under contract in August as elevated interest rates and home prices led to sticker shock for some buyers.

Contracts 306

Contracts Mortgage Buyers 306

Realtor

SEPTEMBER 13, 2023

-Oxford-/iStock The home-buying process is a high-stakes thrill ride full of exhilarating ups and scary downs, but unquestionably one of the most deflating moments is when the appraisal comes in significantly lower than the accepted offer. This is, to use technical real estate lingo, “a bummer.” Either you feel as though you got the raw end of a deal by paying more than the property’s worth or, if you don’t have extra cash to hand over, the deal can crumble into dust.

Appraisal 193

Appraisal Sellers Real Estate Agent Valuation 193

Housing Wire

SEPTEMBER 13, 2023

New York-based mortgage platform Roam has secured a $1.25 million seed round, allowing the company to officially launch its services on Wednesday. Roam focuses on a distinctive niche within the mortgage industry: assumable mortgages. Tech executive and investor Keith Rabois at venture capital firm Founders Fund led the capital injection. It also included Opendoor co-founder Eric Wu , Culdesac CEO Ryan Johnson and #ANGELS founding partner Jana Messerschmidt.

Mortgage 459

Mortgage Government Advertising Buyers 459

Inman

SEPTEMBER 15, 2023

To satisfy antitrust regulators, ICE divests itself of Black Knight's loan origination and mortgage pricing businesses, but gets access to mortgage loan servicers and MLSs in $11.9 billion merger.

Business 196

Business Mortgage Technology 196

Real Estate News

SEPTEMBER 12, 2023

Bean Group, which serves Maine, New Hampshire, Massachusetts and Vermont, has joined eXp thanks to new incentives aimed at recruiting large teams.

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Eyes on Housing

SEPTEMBER 12, 2023

A majority of single-family home building occurs in counties that are in the lowest quintile of homeownership rates, according to NAHB analysis of 2021 5-year American Community Survey (ACS) county-level data and single-family permit numbers. This somewhat counterintuitive result is actually a reflection of the concentration of households in a small number of counties.

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Housing Wire

SEPTEMBER 12, 2023

U.S. home price gains rose 2.5% year over year in July to mark the 138th straight month of annual growth. The annual acceleration reflects six consecutive monthly gains, which drove prices about 5% higher compared to the February bottom, according to CoreLogic ‘s Home Price Index. “Annual home price growth regained momentum in July, which mostly reflects strong appreciation from earlier this year,” said Selma Hepp, chief economist for CoreLogic.

Inventory 459

Inventory Buyers Mortgage Marketing 459

Inman

SEPTEMBER 13, 2023

In theory, any government-backed FHA, VA and USDA loan is assumable, and with mortgage rates at levels not seen in two decades, interest in this little-used option has been growing.

Buyers 197

Buyers Mortgage Government Technology 197

Real Estate News

SEPTEMBER 11, 2023

Indie brokerage network LeadingRE has a new COO, chief legal officer; marketing platform Addressable taps Opendoor exec as COO; Women's Council names new CEO.

Legal 306

Legal Brokerage Marketing 306

Eyes on Housing

SEPTEMBER 12, 2023

The second quarter of 2023 release of the Z.1 Financial Accounts of the United States indicates that the market value of households’ real estate assets increased over the quarter. Low existing for-sale inventory helped to increase real estate value after falling for three consecutive quarters. The level of households’ real estate assets increased by $2.43 trillion from $42.07 trillion in.

Real Estate 183

Real Estate Market Value Inventory Marketing 183

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. Nearly 60,000 home-purchase agreements were canceled nationwide in August, equal to 15.7% of homes that went under contract that month, according to a new report from Redfin. That rate is up from 14.3% in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades.

Buyers 448

Buyers Mortgage New Listings Real Estate 448

Inman

SEPTEMBER 12, 2023

It's never too early to get a jump on long-term business and financial planning, sisters Amy Chorew and Maeda Palius write in their first column for Inman.

Business 197

Business Finance Agents 197

Real Estate News

SEPTEMBER 14, 2023

Roam, launched this week by a former Opendoor employee, aims to help buyers through the complicated and time-consuming mortgage assumption process.

Buyers 299

Buyers Mortgage 299

Eyes on Housing

SEPTEMBER 13, 2023

Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 8th, total mortgage activity decreased 0.8% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose six basis points to 7.27%. The FRM rate has remained above 7% since the start of August. The Market Composite Index, a measure of mortgage loan application volume, fell.

Mortgage 174

Mortgage Marketing Lending Finance 174

Housing Wire

SEPTEMBER 15, 2023

The U.S. government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. First reported this week by Bloomberg News , the bonds in question are part of $114 billion in assets the Federal Deposit Insurance Corporation (FDIC) recovered when it assumed control over both banks earlier in the year.

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Government Mortgage Insurance Investors 448

Inman

SEPTEMBER 12, 2023

The LA luxury developer is being forced to sell the 27-acre site, which was slated for an elaborate mega mansion, after a creditor tried to foreclose on the property and Hadid filed a bankruptcy petition.

Development 197

Development 197

Real Estate News

SEPTEMBER 11, 2023

The company has retooled its revenue share program to make it easier for newer agents to benefit from it — and to help its recruiting efforts.

Agents 299

Agents 299