Housing Wire

AUGUST 4, 2023

Redfin was in the red yet again in the second quarter , but its losses are narrowing and it’s tweaking its unique brokerage model to court more experienced agents in pricey coastal areas. Redfin’s financials Revenues at Redfin fell 21% year-over-year to $275.6 million, down from $606.9 million a year earlier. The brokerage and portal’s real estate services division, its principle source of revenue, dropped to $180.6 million, a 28% decline.

Brokerage 370

Brokerage Agents Real Estate Marketing 370

Sacramento Appraisal Blog

AUGUST 2, 2023

Sellers have been sitting, and it’s been a game-changer for the housing market in 2023. It’s also made valuations more difficult. Today I want to share some stats and talk about appraising in today’s market. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 8/18/23 Details TBD 8/29/23 Elk Grove Regional MLS Meeting 10/23 […] The post Dear sellers, the housing market misses you first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

Sellers 297

Sellers Housing Market Marketing Valuation 297

Real Estate News

AUGUST 4, 2023

Nearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys.

246

246

George Dell

AUGUST 2, 2023

The USPAP “Competency Rule” is straightforward. It says you must be competent! For any given assignment, “being competent” requires the appraiser to: “properly” identify the problem; have knowledge and experience to be competent; recognize and comply with applicable laws and regulations. Editor’s Note: This is Standards, part 3.9 of George Dell’s series on How Do […] The post “The” Competency Rule v Today’s Best Practices?

Law 195

Law Appraisal Valuation 195

Housing Wire

AUGUST 4, 2023

Achieving success as a real estate agent requires more than simply understanding the mechanics of the job. Yes, you should certainly be able to post an impressive listing and understand the ins and outs of closing, but helping buyers and sellers means cultivating a diverse set of skills to navigate a complex and ever-changing real estate market. Here are 10 essential skills every real estate agent should possess. 1.

Real Estate Agent 370

Real Estate Agent Real Estate Agents Clients 370

Miller Samuel

AUGUST 1, 2023

I always have great conversations with Lisa Abramowicz, an anchor on Bloomberg Television's Bloomberg Surveillance. The TV clip captures about half the conversation. For the my full interview , check out the Bloomberg Surveillance Podcast. Jonathan Miller, Miller Samuel President & CEO, says housing prices have leveled off. The post Bloomberg Surveillance 8-1-23: The Pandemic Wiped Out Housing Inventory: Miller first appeared on Miller Samuel Real Estate Appraisers & Consultants.

Inventory 195

Inventory Real Estate Appraisal 195

The Appraiser Coach

AUGUST 1, 2023

One day while I was at the local state fair, I saw a one-man band walking by.

Business 195

Business Inspection Advertising Real Estate Agent 195

Housing Wire

AUGUST 4, 2023

Mortgage rates are finally headed lower after a crazy week of jobs data showing that the economy isn’t going into recession. Job growth is slowing as we get closer and closer to the target range of the make-up demand in labor, but it hasn’t broken yet. What do I mean by a make-up demand in labor? Assuming we had no COVID-19 and the economy continued as it had been — which was running at the most prolonged economic and job expansion ever recorded in history — we would be between 157 million ̵

Mortgage 370

Mortgage Insurance Government Marketing 370

DataMaster

AUGUST 4, 2023

One question we get a lot at DataMaster is, “How can I calculate adjustments using DataMaster?” And true, we don’t have a separate snappy adjustment tool that requires a deep understanding of mathematical theory, not to mention a computer science degree; we can help you calculate adjustments using our core functionality. One example that our Chief Appraiser, Jared Preisler SRA, demonstrated was how to start calculating adjustments for garages.

Tools 148

Tools Appraisal Marketing Valuation 148

Real Estate News

AUGUST 3, 2023

The company reported a net income of $9.4 million, slightly below expectations, while its agent count grew by 7%.

Agents 246

Agents 246

Inman

AUGUST 3, 2023

Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay said he's developed a "people first" leadership strategy.

Agents 148

Agents Brokerage Development 148

Housing Wire

AUGUST 4, 2023

eXp World Holdings faced headwinds in the second quarter, as persistently slow real estate sales drove the company’s revenue down 13% year-over-year to $1.2 billion, executives disclosed on Thursday. Despite the decline in revenue, the holding company for eXp Realty maintained profitability with a net income of $9.4 million, up from $1.5 million in the first quarter of 2023 and $9.3 million in Q2 2022.

Realty 370

Realty Brokerage Agents Real Estate 370

Eyes on Housing

AUGUST 3, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% in the second quarter of 2023. It is the largest share since Q1 2021 but roughly three percentage points lower than the post-Great Recession average. Conventional loans financed 73.7%.

Finance 148

Finance Lending Marketing Mortgage 148

Real Estate News

AUGUST 3, 2023

Amid falling revenue and elusive net profits, the company plans to pilot a program to give agents "the lion’s share of the commission on self-sourced sales.

Agents 246

Agents 246

Inman

AUGUST 3, 2023

"Catching Real right now is like catching a wave," Kofi Nartey said. He sees the brokerage's sweeping growth and adoption of technology as the way of the future.

Brokerage 148

Brokerage Technology Agents Marketing 148

Housing Wire

AUGUST 3, 2023

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. Taken by Felix Mizioznikov. Everywhere you look there seems to be bad news for the existing-home market — interest rates remain north of 7% and the median home price nears record levels at more than $410,000 as of June. The dynamics creating that dour landscape for perspective homebuyers eying existing homes are at the same time helping to boost another sector of the home market, however.

Construction 370

Construction Development Finance Mortgage 370

Eyes on Housing

AUGUST 2, 2023

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.9% in the second quarter of 2023, amid persistently tight housing supply. The homeownership rate remained statistically unchanged from the first quarter reading (66%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.3 percentage points lower and remains below the 25-year average rate.

148

148

Real Estate News

AUGUST 3, 2023

Freddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.

Mortgage 246

Mortgage 246

Inman

AUGUST 4, 2023

Over nearly three decades, these are the lessons that Jimmy Burgess has put into practice to grow. Put them to work for your business.

Real Estate 148

Real Estate Business Brokerage Agents 148

Housing Wire

AUGUST 3, 2023

Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Yet, even the most brilliant leaders in AI have a difficult time envisioning how AI will transform the world in five years. So how can real estate agents be so cavalier about their job?

Real Estate Agent 370

Real Estate Agent Real Estate Agents Tools 370

Eyes on Housing

AUGUST 1, 2023

The count of open, unfilled jobs for the overall economy continued to moved lower in June, falling to 9.6 million. While ongoing tight labor market conditions have raised the likelihood of a September Federal Reserve interest rate increase, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions due to elevated interest rates.

Construction 148

Construction Marketing 148

Real Estate News

AUGUST 3, 2023

The Eighth Circuit Court of Appeals upheld a ruling denying HSA’s motion to force arbitration in the Sitzer/Burnett case, scheduled for trial in October.

246

246

Inman

AUGUST 3, 2023

The ruling against HomeServices of America in federal court on Wednesday sets the stage for a likely Oct. 16 start for the first of two highly anticipated bombshell commission trials later this year.

Realtors 148

Realtors Brokerage Agents 148

Housing Wire

AUGUST 3, 2023

HSBC Bank USA on Tuesday disclosed that it is facing an investigation from the U.S. Department of Housing and Urban Development (HUD) for alleged redlining practices. The federal investigation is based on a complaint filed by the non-profit organization National Community Reinvestment Coalition (NCRC). According to filings with the Securities and Exchange Commission (SEC), HUD is investigating whether “HSBC Bank USA violated the U.S.

Lending 370

Lending Mortgage Development Marketing 370

Chicagoland Appraisal Blog

AUGUST 1, 2023

Reading a home appraisal might feel overwhelming at first, but worry not! This guide is here to simplify the process. While each appraisal may have slight variations, the following structure offers a general roadmap to help you smoothly navigate through it. The key is to approach it in a linear manner, starting from page 1 and following the logical flow.

Appraisal 148

Appraisal Legal Construction Appraisal Process 148

Real Estate News

AUGUST 2, 2023

Emily Chenevert, CEO of ABoR and the newly rebranded Unlock MLS, wants Austin buyers and sellers to associate "MLS" with more than just soccer.

Sellers 246

Sellers Buyers 246

Inman

AUGUST 4, 2023

The company intends to prepare agents and homeowners for the "millions of new high-performing homes improved through the Inflation Reduction Act (IRA)," according to an announcement.

Home Improvement 148

Home Improvement Agents Renovations Marketing 148

Housing Wire

AUGUST 4, 2023

Coldwell Banker Premier announced a merger with Coldwell Banker Professional Real Estate Services along with all of its sales associates, which further expands Coldwell Banker Premier’s office footprint into Cumberland, Maryland, and surrounding markets. This is the sixth merger by Coldwell Banker Premier since the beginning of 2022. Coldwell Banker Premier was named a 2023 RealTrends GameChanger for its 76% transaction side percentage growth over five years (2018-2022.

Real Estate 370

Real Estate Agents Business Marketing 370

Eyes on Housing

AUGUST 1, 2023

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.9% in June after an increase of 2.9% in May. Spending stood at a seasonally adjusted annual pace of $856.3 billion. However, total private residential construction spending is still 10.4%% lower compared to a year ago. The total construction monthly increase is largely attributed to more.

Construction 148

Construction 148

Real Estate News

AUGUST 2, 2023

NAR’s midyear forecast touched on a variety of trends, highlighting increased moving distances as a notable recent change.

Buyers 246

Buyers Agents 246

Inman

AUGUST 4, 2023

If, as an industry leader, you only care about female agents' production, and not their safety, think about what that makes you. We already know who you are.

Agents 148

Agents Brokerage 148

Housing Wire

AUGUST 3, 2023

Opendoor continued to feel the market’s headwinds in the second quarter of 2023, which led to fewer homes sold and lower revenues in the period. But the iBuyer greatly reduced its operating costs, delivered a profit, and increased its home purchases in the quarter. The iBuyer recorded a net income of $23 million from April to June, compared to a net loss of $101 million in the previous quarter and a net loss of $54 million in the same quarter last year, per Securities and Exchange Commi

Inventory 370

Inventory Contracts Sellers Housing Market 370

Eyes on Housing

JULY 31, 2023

Despite lower perceptions of affordability, the share of prospective home buyers who are actively engaged in the purchase process (i.e., have moved beyond the planning phase) remained essentially unchanged between the first and second quarters of 2023, at 56% and 55%, respectively. The lack of change in this metric suggests that some buyers are willing to continue trying to find.

Buyers 148

Buyers 148

Real Estate News

AUGUST 2, 2023

The company's net income of $2 million was an improvement after losses in Q1, while revenue fell by more than 10% and U.S. agent count dropped by 6.3%.

Agents 246

Agents 246