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The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.
Having had our kitchen gutted and remodeled a couple of years ago, I can honestly say that I had not thought about this question before our renovation. However, if you’re thinking of a kitchen demo or remodel, you will likely need a dumpster. This week, I welcome guest blogger Ashley Rodriguez, with bins4less , who tackles the answer to this question.
Sellers are hibernating. It’s been striking to see sellers sitting back so far in 2023, and it’s really starting to create more competition for buyers. Let’s talk about it. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 3/28/23 Downtown Regional MLS meeting 4/1/23 NAA Conference in Sacramento 4/13/23 Realtist Meeting 5/4/23 Event with UWL […] The post Sellers are hibernating & the housing market feels broken first appeared on Sacramento Appraisal B
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Many people predicted that the U.S. housing market would crash during the pandemic. One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages.
A judge ruled that the Moehrl suit would now cover all sellers who paid commissions to named companies over a 5-year period, plus “current and future” sellers.
A judge ruled that the Moehrl suit would now cover all sellers who paid commissions to named companies over a 5-year period, plus “current and future” sellers.
Demand for purchase loans picks up for the fourth straight week as mortgage rates continue to retreat from 2023 highs, according to the latest Mortgage Bankers Association survey released Wednesday.
Dear representative, waiving/eliminating property appraisal for lending purposes is wanton recklessness. Fannie Mae’s decision to waive/eliminate property appraisal for lending purposes is nothing more than wanton recklessness that could have serious repercussions in the future. The truth of the matter is that appraisals are an essential part of any mortgage transaction and should not be taken lightly or eliminated without due consideration.
Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season. But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage was 6.32% as of March 30, down 10 basis points from the previous week, mainly due to the economic uncertainty caused by bank collapses.
Millennials dominated the market in 2021, but as affordability pushed younger buyers to the sidelines, boomers took over as the top group of buyers 2022.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Amid an economic landscape in flux, homebuyers and sellers continue to want expert advice from real estate agents while looking to prepare for the future, and for Gen Z that means finding "green homes," according to RE/MAX.
In Part One we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: “payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto” Editor’s Note: […] The post Is the Definition of Market Value Outdated?
Agile , a Philadelphia-based fintech company focused on mortgage-backed securities (MBS), announced on Monday the execution of the mortgage industry’s first fully-automated Assignment of Trade (AOT) transaction. AOT transactions involve three counterparties — a mortgage originator, a mortgage investor, and a broker dealer — and are designed to transfer loan collateral and hedge positions to a mortgage investor.
In a tough year for real estate, many of the top companies and franchise brands held onto their rankings, but only a few were able to grow sales volume.
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.
NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $286 billion in taxes were paid by property owners in the fourth quarter of 2022 (not seasonally adjusted).[1] State and local governments collected $714 billion in property taxes in 2022, $46 billion more than 2021. The 6.9% annual increase is the largest since property tax receipts climbed 9.3% in.
Although people have mixed feelings about social media, there's no denying that it's a valuable tool for marketing your business. Find out how agent Nikki Beauchamp puts it to work effectively.
New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. A Worker Adjustment and Retraining Notification (WARN) filed with the New Jersey Department of Labor and Workforce Development shows the job cuts will affect mortgage loan officers, final “docs” associates, desktop support professionals and business solutions architects, among others.
Real gross domestic product (GDP) increased in 42 states and the District of Columbia in 2022 according to the U.S. Bureau of Economic Analysis (BEA). Six states recorded declines while Maryland and New Hampshire reported no change. The percent change in real GDP ranged from 4.9 percent increase in Idaho to 2.4 percent decline in Alaska.
Timely exploration, adoption and smart use of this technology will help real estate professionals do more with less and focus even more on creating an impeccable customer experience.
When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. Mortgage applications increased 2.9% week over week on a seasonally adjusted basis for the week ending March 24, according to the Mortgage Bankers Association (MBA).
Since peaking in November, rates have been up and down — and up and down. Economists say it's hard to predict what's next, but buyers may want to act now.
According to the 2021 American Community Survey (ACS), 23% (or close to 2.5 million) of workers employed in construction are self-employed. This is a whole percentage point higher than the share of self employed in construction in 2019, before the pandemic rattled the labor market. Even though the Covid-19 pandemic boosted self-employment across all industries, construction self-employment rates remain significantly.
Rocket Companies has rolled out its first credit card in order to attract potential homebuyers and existing homeowners into its ecosystem amid one of the most challenging mortgage markets in decades. Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments.
A Realtor.com analysis identified the best time to sell in 2023, and it's just around the corner. The report also said to expect a more typical spring season.
Consumer confidence rose slightly following two months of declines thanks to the optimism in the short-term outlook. Even though confidence rose in March, consumers are planning to spend less on highly discretionary categories such as concerts and dining. As a result, consumers are planning to spend more on less discretionary categories such as home maintenance and repair.
A judge on Wednesday granted class certification in a federal commission suit that could rock the real estate industry and impact how agents are compensated nationwide.
The use-cases for AI-powered chatbots just keep growing. Big Purple Dot (BPD), a mortgage and real estate customer relationship management (CRM) and recruiting solutions company in Irvine, California, announced this week the integration of ChatGPT into its CRM ecosystem. According to Big Purple Dot , it is one of the first CRM companies in the mortgage industry to integrate the ChatGPT API into its marketing platform. “We are excited to be one of the first CRM’s in the mortgage and r
Alexandra Lumpkin first general counsel at Real, Shawna Hernandez lands COO role at Endpoint, Sam Rodriguez joins Epique board, Kris Burdick promoted at Hanna.
Based on the Census Bureaus’ latest estimates, the population of the State of Texas grew by 470,708 persons between 2021 and 2022. This nominal increase was the largest of any state. Texas joined California as the second state to have a total population above 30 million, with a total estimated population of 30,029,572 on July 1, 2022. This population growth.
As ERA Real Estate's Fuel conference unfolds this week, Chris and Wooden, the brokerage's CEO and CMO, revealed how they navigate a slow market and the technology they routinely deploy.
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