Housing Wire
OCTOBER 21, 2023
The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. New listing data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.
Sacramento Appraisal Blog
OCTOBER 26, 2023
You will either love it or hate it. This owner transformed a tract home built in 2002 into something with serious Midtown modern vibes. When I saw this house, I knew I wanted to write about it, and I think there are some great conversation nuggets. How do we value something when it has really […] The post Making a modern home from a tract home first appeared on Sacramento Appraisal Blog.
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Real Estate News
OCTOBER 27, 2023
Testimony from the KW co-founder as well as President Marc King closed out week 2 of Sitzer/Burnett, with both leaders denying a conspiracy.
Inman
OCTOBER 23, 2023
For the past three years, luxury buyers have been on the move. Increased opportunities to work remotely — and, by extension, live remotely — have enabled them to embrace new lifestyles or seek a higher quality of life, whether that means exploring regions and markets with better weather, lower costs, or a more relaxed pace.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Housing Wire
OCTOBER 27, 2023
To many, homebuying is a daunting, often confusing process. Admittedly, the myriad of documents requiring signatures can be overwhelming, especially for first-time homebuyers. Thankfully, there are a number of online resources that can help homebuyers navigate the process. The American Land Title Association, alongside our real estate industry partners, are committed to making transactions easier for everyone through consumer education efforts.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
OCTOBER 21, 2023
Defendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.
Inman
OCTOBER 25, 2023
On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.
Housing Wire
OCTOBER 24, 2023
Everyone knows that potential homebuyers are waiting for better affordability. But if demand for homes at current prices is down then why haven’t home prices fallen to meet the lower demand? The short answer is that while homebuyer demand is indeed low, new supply remains very low, too. For home prices to adjust significantly, we need an imbalance of supply versus demand, and this market is surprisingly balanced.
The Appraiser Coach
OCTOBER 24, 2023
Imagine you are doing an appraisal for a single family home on three acres and, upon analysis, you realize there is more value in subdividing the lot. Then you find out the buyer is buying the property to benefit from that value and already has the subdivision process in the works. Because of these conclusions, the purchase price is likely lower than value.
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Real Estate News
OCTOBER 23, 2023
A former NAR committee member called traditional compensation practices “the ultimate form of restraint of trade,” claiming that NAR looked the other way.
Inman
OCTOBER 27, 2023
Simply Vegas got into the Halloween spirit with their latest recruitment video, a take on the popular "Saw" horror movie franchise.
Housing Wire
OCTOBER 27, 2023
As the trial of Burnett v. the National Association of Realtors (NAR), et al kicked off this week in a Kansas City, Missouri, federal courtroom, there is a lot at stake for consumers and business competition. Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. In reality, consumers are better off and business competition thrives very much because of NAR’s rules and how well local Multiple Listing Service (MLS) broker
Eyes on Housing
OCTOBER 25, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.
Real Estate News
OCTOBER 24, 2023
There’s been no shortage of news — and challenges — in the past 12 months. But real estate pros keep finding ways to win, and we’re proud to tell their stories.
Inman
OCTOBER 27, 2023
Rick Geha Team founder Rick Geha suddenly passed away one week after eXp's annual conference in Las Vegas. The Geha family is honoring the late agent's memory with a $100,000 fundraiser for the Oakland A's Make-A-Wish Community Fund.
Housing Wire
OCTOBER 27, 2023
KANSAS CITY, Missouri — The final day of the second week of the Sitzer/Burnett commission lawsuit trial began with some procedural news. After filing a motion for a judgment as a matter of law late Thursday, the National Association of Realtors’ request was denied by Judge Stephen Bough. The other defendants in the suit, HomeServices of America and Keller Williams , had previously filed motions for judgment as a matter of law , but both were denied.
Eyes on Housing
OCTOBER 25, 2023
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in September at a 759,000 seasonally adjusted annual pace, which is.
Real Estate News
OCTOBER 26, 2023
The defense in Sitzer/Burnett called on three experts to discuss the consequences of decoupling commissions, with one facing aggressive cross-examination.
Inman
OCTOBER 26, 2023
Find out how this Florida brokerage leader combines selflessness, diligence and patience to achieve remarkable results.
Housing Wire
OCTOBER 24, 2023
Patton Gade, the top producing loan officer for VA home loans in the U.S. last year, has joined brokerage firm UMortgage , the company announced on Tuesday. Arizona-based Gade, a graduate of the U.S. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage. He’ll join forces with fellow veteran loan originator Jay Bunte in the brokerage firm.
Eyes on Housing
OCTOBER 27, 2023
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in September. The pace of personal income growth slowed after reaching a 1% monthly gain in January 2023. Gains in personal income are largely driven by increases in wages and salaries. With spending increasing faster than personal income, the September personal savings.
Real Estate News
OCTOBER 25, 2023
The median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.
Inman
OCTOBER 25, 2023
First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.
Housing Wire
OCTOBER 26, 2023
Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. 26.
Eyes on Housing
OCTOBER 23, 2023
Despite mortgage rates topping 7%, Americans persist in their desire to buy a home. According to the latest Housing Trends Report*, the share of adults with plans to purchase a home within a year edged up to 17% in the third quarter of 2023, up from 15% a quarter earlier. The share has fluctuated up and down without a clear.
Real Estate News
OCTOBER 26, 2023
After big declines in August, sales recovered slightly, but “pending contracts remain at historically low levels,” NAR Chief Economist Lawrence Yun noted.
Inman
OCTOBER 25, 2023
The largest privately held brokerage in the state of California has decided to separate from Christie's International Real Estate, launch a rebrand and promote former COO Michele Harrington to CEO, Inman has learned exclusively.
Housing Wire
OCTOBER 23, 2023
KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. Just prior to the plaintiffs resting their case late Monday afternoon, HomeServices of America , one of the three remaining defendants in the commission lawsuit , filed a motion for judgment as a matter of law.
GoForrmz
OCTOBER 27, 2023
Originally published on 11/10/2015 Did you know about the GoFormz-Zapier partnership? In 2015, we joined forces with Zapier, the leading web automation platform enabling businesses to seamlessly link with numerous top web services. In today's modern world, companies heavily rely on a multitude of web services for diverse aspects of their operations, including billing, project tracking, and CRM functionalities.
Real Estate News
OCTOBER 26, 2023
Expect a “more dramatic” seasonal slowdown in home sales as average rates near 8% scare off buyers.
Inman
OCTOBER 24, 2023
Billionaire investor Warren Buffett and business partner Charlie Munger see long-term distress in commercial real estate, which could spell trouble for lenders and opportunity for investors. "The buildings don’t go away," Buffett said.
Housing Wire
OCTOBER 24, 2023
KANSAS CITY, Missouri — National Association of Realtors CEO Bob Goldberg was back on the stand Tuesday morning at the start of the seventh day of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit. After undergoing questioning from Ethan Glass, NAR’s lead attorney on Monday, Goldberg faced Michael Ketchmark, the lead attorney for the plaintiffs, at the start of Tuesday’s proceedings.
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