Housing Wire
APRIL 25, 2023
Why are the homebuilder stocks up so much? Don’t they know the new home sales apocalypse is here? You know, the one that says we have too much inventory and millions of vacant homes in the U.S.? According to this theory, we have more homes under construction than any time in history. The truth is, it’s not 2008 all over again. I understand the lure of the housing 2008 story.
Real Estate News
APRIL 25, 2023
Several of the top brokerages in T3 Sixty's Mega 1000 list were founded after 2000, including top-ranking Compass.
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Sacramento Appraisal Blog
APRIL 25, 2023
Leaving California. That’s a buzzworthy topic. Let’s talk about migration today. I have lots of visuals and a few resources to share in case you’re in a different state and looking for data. I’d love to hear your take in the comments. UPCOMING (PUBLIC) SPEAKING GIGS: 5/4/23 Housing Market Q&A 12-2pm 5/10/23 Empire Home Loans event TBA […] The post Leaving California.
Cleveland Appraisal Blog
APRIL 26, 2023
Hello friends! With a shortage of housing inventory persisting, some are resorting to building their own home. But to do so, you need land. This week, I welcome back guest blogger, Ashley Rodriguez with bins4less , who wrote this article for the Cleveland Appraisal Blog. I hope you enjoy it! Buying land can be a complicated and sometimes tiring process for an individual to take on all by themselves.
Housing Wire
APRIL 23, 2023
Can we now say that the housing market ‘s spring selling season is finally underway? Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. Still, we have some promising signs that we might have finally hit the inventory bottom for 2023. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago.
Real Estate News
APRIL 28, 2023
A new trends survey found that while most buyers still have trouble finding homes that fit their budget, more are optimistic about their chances.
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George Dell
APRIL 26, 2023
Current efforts in the regulation of appraisal quality and fairness are fettered by obsolete appraisal methods. Traditional appraisal methods were designed to tackle sparse, subjective, non-electronic data. These vintage practices enable bias, hinder diversity initiatives, and conceal risk quantification. We have written about the “Five Frictions” hindering improvement in regulated appraisal valuation.
Housing Wire
APRIL 28, 2023
Wells Fargo and T.D. Jakes Group announced a 10-year partnership aimed at “revitalizing neighborhoods” and creating long-term change in communities most in need. The announcement comes a year after Bloomberg reported that only 47% of Black homeowners who completed a refinance application with Wells Fargo in 2020 were approved, compared with 72% of white homeowners.
Real Estate News
APRIL 27, 2023
Sherry Chris, president and CEO of the Anywhere Expansion Brands portfolio, is retiring from brand leadership and will transition to an advisory role.
The Appraiser Coach
APRIL 25, 2023
If you’ve ever read about the 5 Love Languages by Gary Chapman, you know that, for must of us, there are particular things that make each of us feel loved.
Eyes on Housing
APRIL 24, 2023
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this series in 2018. The finding.
Housing Wire
APRIL 27, 2023
Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve ’s new FedNow instant payment system looks to be making that dream a reality. However, before one gets too excited, the title insurance industry is asking if it really is worth sacrificing security for speed. “There is the obvious perceived benefit of faster payment and they are touting that it will be cheaper than wire transfers , and of course you no longer have to worry about m
Real Estate News
APRIL 27, 2023
While these trends can bring challenges, understanding local market dynamics can help buyers and sellers be more competitive.
Inman
APRIL 24, 2023
Tools such as ChatGPT and DALL-E have opened the artificial intelligence floodgates and promise to permanently transform the way agents operate. But there's so much more to explore.
Eyes on Housing
APRIL 28, 2023
Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023, 73% of buyers reported being able to afford less than half the homes for-sale in their markets, down from a record high of 87% in the final quarter of 2022. .
Housing Wire
APRIL 27, 2023
For the first time since November 2022, pending home sales fell in March, posting a 5.2% month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, down 23.3% year over year. An index of 100 is equal to the level of contract activity in 2001.
Real Estate News
APRIL 24, 2023
A new survey from the National Association of Home Builders found a significant increase in the number of adults who plan on buying a home this year.
Inman
APRIL 28, 2023
The event, which took place at The Wynn in Las Vegas, facilitated networking, relationship-building and education across about 3,000 of the brand's agents, brokers and staff.
Eyes on Housing
APRIL 27, 2023
In the first quarter of 2023, economic growth slowed to an annual rate of 1.1%, amid rising interest rates and an ongoing banking crisis. This quarter’s growth was dragged down by decreases in private inventory investment and residential fixed investment. Private inventory investment subtracted 2.26 percentage points off the headline growth rate for overall GDP, while residential fixed investment took.
Housing Wire
APRIL 25, 2023
New home sales posted yet another increase in March, rising 9.6% from February to a seasonally adjusted annual pace of 683,000 homes, according to data published on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). This is the fourth straight month of new home sales increases. On a year-over -year basis, however, new home sales are still down 3.4%.
Real Estate News
APRIL 22, 2023
In 1973, with a $1000 loan, Barbara Corcoran launched what would become a global luxury real estate company. And it's always had a woman at the helm.
Inman
APRIL 28, 2023
Although median home price growth has slowed from its once-maniacal pace, purchasing a home is still an expensive feat as existing-home prices reached $375,700 in March. Inflation and elevated mortgage rates have created additional financial pressure and placed homebuyers on precarious hunts for affordable homes — even if they have to switch their area codes.
Eyes on Housing
APRIL 26, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% to 11.7% in the first quarter of 2023. It is the largest share since 2007 but remains 30% lower than the post-Great Recession average. Conventional loans financed.
Housing Wire
APRIL 24, 2023
The Mortgage Bankers Association (MBA) filed an amicus brief on Friday in response to the Consumer Financial Protection Bureau (CFPB) and the Department of Justice ‘s interest in determining a liability standard that would apply to lenders in cases of alleged bias by third-party appraisers. The mortgage trade group said it was concerned that the CFPB and DOJ would hold lenders liable for the actions of an appraiser, who is neither an employee nor an agent of the lender, a reference to a ca
Real Estate News
APRIL 27, 2023
The National Association of Realtors reported the first dip in pending sales since last November as inventory remains tight.
Inman
APRIL 28, 2023
As uncomfortable as New York City's rent hikes feel to many tenants now, they don't compare to the soaring prices of Singapore's prime rental market, The Wall Street Journal reported.
Eyes on Housing
APRIL 25, 2023
Lower mortgage rates and limited existing inventory helped to push new home sales up in March, even as builders continue to grapple with increased construction costs and material supply disruptions. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in March at a 683,000 seasonally adjusted annual pace, which.
Housing Wire
APRIL 26, 2023
Arizona-based lender On Q Financial will form a multi-partner mortgage banking joint venture with HomeCo Partners , a consortium of real estate brokerages and a builder, HousingWire has learned. HomeCo Partners had created a JV with New Rez , which is permanently winding down. The JV, named Partners United Mortgage , has partners consisting of real estate brokerages and builders — including Dilbeck Real Estate in Pasadena, California; Lisa Burridge and Associate s in Casper, Wyoming; Rockford Ho
Real Estate News
APRIL 27, 2023
The average 30-year mortgage was up slightly this week, but cooling inflation is a sign that the market is stabilizing, which should prompt declines.
Inman
APRIL 26, 2023
You told us it works and that you need to be safe while doing it. Here is what our readers (and the data) have to say about door-knocking for listings and new business.
Eyes on Housing
APRIL 26, 2023
Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a newly built home barely edged from 20% to 21%. Meanwhile, the share interested in existing homes dropped from 39% to 37% during this period, while the share with no particular.
Housing Wire
APRIL 26, 2023
With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. He’s been watching the spring homebuying season slowly pick up and buying leads through Zillow and Realtor.com. It’s a lot of work, and there’s no guarantee that they will pay off. “A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage.
Real Estate News
APRIL 26, 2023
Brokerage leader Bill Ryan, whose firm recently joined KW, has seen tremendous growth — and a few booms and busts — over his five decades in the industry.
Inman
APRIL 24, 2023
A new report by RE/MAX explores what's most important to today’s homebuyers and sellers, from their criteria for choosing a real estate agent to their adaptability for the future. The findings are valuable intelligence for agents and brokers alike.
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