Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78 billion. The jury reached its verdict after a little over two weeks of testimony from the plaintiffs and defendants.

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Brokerage Realtors Sellers Buyers 545

Sacramento Appraisal Blog

NOVEMBER 1, 2023

Pricing low on purpose can be a triggering issue. I know both buyers and agents can get extremely frustrated to have to enter a bidding war. And let’s not even talk about auction platforms. But pricing low is pretty much the norm in the Bay Area. People have always told me that, and I finally […] The post Pricing low on purpose: Bay Area vs Sacramento first appeared on Sacramento Appraisal Blog.

Agents 402

Agents Appraisal Buyers Housing Market 402

Real Estate News

OCTOBER 31, 2023

After less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.

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Sellers 363

Inman

OCTOBER 31, 2023

Michael Ketchmark filed the new lawsuit just moments after a jury sided with his clients in the Sitzer | Burnett case.

Clients 213

Clients Realtors Real Estate Brokerage 213

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

OCTOBER 28, 2023

If I had told you on Dec. 31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Instead, the opposite has happened: home prices nationally hit an all-time high, inventory is still down year over year and the percentage of price cuts is 4% below last year’s level.

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Inventory Mortgage New Listings Marketing 504

Real Estate News

NOVEMBER 1, 2023

The home search giant’s latest acquisition will help support its “housing super app," said Chief Industry Development Officer Errol Samuelson.

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Development 312

Inman

OCTOBER 31, 2023

Jurors on Tuesday shocked the real estate industry, awarding damages adding up to $5.36 billion to homesellers after deliberating for 2 hours and 28 minutes.

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Real Estate Realtors Brokerage Agents 212

Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. In loanDepot’s program, dubbed AccessZERO, the down payment assistance is structured as a 10-year fully amortized repayable second mortgage. Borrowers must have a minimum credit score of 600 to qualify for the down payment assistance, which can be as much as 5% of the home purchase price or appraised value, whichever is less.

Lending 492

Lending Retail Finance Insurance 492

The Appraiser Coach

OCTOBER 31, 2023

The myth we often believe when it comes to working from home is that productivity significantly slows down. The image you probably have in your head is someone who lounges around watching soap operas and is just mindful enough to keep the computer from going to sleep in between loads of laundry and a mid-morning Starbucks run. But just because you are surrounded by familiarity and an environment you usually relax in doesn’t mean your productivity has to suffer.

Training 195

Training Appraisal Inspection Advertising 195

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

OCTOBER 31, 2023

After the jury unanimously found for the plaintiffs in the Missouri case, the lead attorney announced he was filing a nationwide suit naming NAR, 7 brokerages.

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Brokerage 304

Inman

NOVEMBER 3, 2023

After breaching 8 percent in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring.

Mortgage 206

Mortgage Investors Marketing 206

Housing Wire

NOVEMBER 3, 2023

The jobs report today which should move mortgage rates lower, demonstrates why it’s time for the Federal Reserve to land the plane. The labor market doesn’t show wages spiraling out of control as it did in the 1970s because the inflation data doesn’t look like anything in the 1970s. We had a solid job openings print this week and jobless claims are still near historic lows.

Mortgage 487

Mortgage Government Marketing 487

Eyes on Housing

NOVEMBER 2, 2023

NAHB analysis of the Survey of Construction (SOC) shows that 70% of all new single-family homes started in 2022 were built on slab foundations, followed by 19% of homes built with a full/partial basement and 10% of homes built with a crawl space. As home building shifts towards the southern geographic divisions, slab adoption rates are growing higher.

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Construction 162

Real Estate News

NOVEMBER 2, 2023

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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292

Inman

NOVEMBER 1, 2023

Zillow has acquired Follow Up Boss, one of the industry’s more popular customer relationship management solutions.

Technology 201

Technology 201

Housing Wire

NOVEMBER 1, 2023

Zillow Group has entered into an agreement to acquire CRM system , Follow Up Boss , according to an announcement on Wednesday. The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in potential cash earnout. “Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients.

Agents 487

Agents Clients Real Estate Investing 487

Eyes on Housing

OCTOBER 31, 2023

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 66% in the third quarter of 2023, amid persistently tight housing supply and elevated mortgage interest rates. The homeownership rate remained statistically unchanged from the second quarter reading (65.9%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.2 percentage points lower and remains.

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Mortgage 153

Real Estate News

OCTOBER 30, 2023

The lead attorney for the plaintiffs wrapped up the morning session of the Sitzer/Burnett trial with a theatrical closing argument.

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288

Inman

OCTOBER 30, 2023

The desire for uniqueness is driving a rising demand for historic homes in the luxury real estate sector. Buyers today love the character and craftsmanship that a historical property exudes, and want a home that expresses their one-of-a-kind personality and preferences.

Buyers 197

Buyers Agents Real Estate 197

Housing Wire

NOVEMBER 1, 2023

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. However, real estate brokers across the country have already begun preparing themselves, their firms and their agents for the worst.

Open Houses 486

Open Houses Brokerage Agents Realtors 486

Eyes on Housing

NOVEMBER 1, 2023

The Federal Reserve’s monetary policy committee held the federal funds rate at a top target rate of 5.5% at the conclusion of its November meeting. While noting that the Fed was “strongly” committed to reducing inflation to its target rate, this marked the second meeting in a row of no increase as the central bank examines incoming data. The Fed’s.

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Real Estate News

NOVEMBER 2, 2023

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

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Mortgage 274

Inman

OCTOBER 31, 2023

In a final push on Monday, attorneys for real estate franchisors and the National Association of Realtors argued that homesellers in the case failed to prove a conspiracy to inflate commissions.

Realtors 192

Realtors Real Estate Brokerage Agents 192

Housing Wire

OCTOBER 31, 2023

We may be nearing the bottom in home sales even if mortgage rates don’t decline. As a result, there may be a light at the end of the tunnel in this crazy market cycle. At least, that’s what the data seems to suggest as inventory grows and new listings decline at a less aggressive rate than last year. To get the weekly picture of the housing market, watch the video above.

New Listings 483

New Listings Inventory Contracts Housing Market 483

Eyes on Housing

OCTOBER 30, 2023

The Census Bureau’s Survey of Construction (SOC) provides valuable information on the characteristics of new homes started construction, such as air conditioning and heating system installations. Air Conditioning In 2022, 97.1 percent of new single-family homes started had a central AC system, slightly higher than 96.5 percent in 2021. The trend, going back to 2000, shows a steady rise in the share of.

Construction 138

Construction 138

Real Estate News

NOVEMBER 1, 2023

The Sitzer/Burnett trial may be over, but a final judgment — which could impact both monetary damages and commissions rules — is yet to come.

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269

Inman

NOVEMBER 3, 2023

NextHome CEO James Dwiggins points out that the final chapter of the bombshell commission lawsuits hasn't been written in this interview with Bernice Ross. Find out what you need to know to plan ahead.

Agents 190

Agents Marketing 190

Housing Wire

NOVEMBER 2, 2023

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

Real Estate Agent 479

Real Estate Agent Realtors Real Estate Development 479

Eyes on Housing

NOVEMBER 3, 2023

Job growth decelerated in October. Total nonfarm payroll employment increased by 150,000 and the unemployment rate edged up to 3.9% in October from 3.8%. The labor market is cooling. The Fed held interest rates steady for the second meeting in a row at the conclusion of its November meeting. This month’s employment data will be one of the key components.

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Marketing Construction 134

Real Estate News

OCTOBER 30, 2023

Atlanta–area agent Amy Fuchs says people don’t always understand how their agents are compensated, and she worries commissions lawsuits could hurt buyers.

Business 261

Business Agents Buyers 261

Inman

NOVEMBER 1, 2023

Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, tech advisor Mike DelPrete writes.

Agents 189

Agents Mortgage Clients Business 189

Housing Wire

NOVEMBER 3, 2023

When it comes to marketing your real estate business, video is king. Global statistics from 2023 show that people watch videos an average of 100 minutes a day, with millennials — the largest share of homebuyers in the U.S. — spending 10 to 20 hours a week watching videos. From short Instagram reels to longer videos on YouTube , video is here to stay.

Real Estate 479

Real Estate Business Marketing Real Estate Agent 479