Housing Wire

MARCH 15, 2024

The National Association of Realtors has agreed to pay $418 million in damages to settle the commission lawsuits. The story was first reported by the New York Times. NAR’s legal counsel approved the settlement agreement early Friday morning. It has yet to be filed in court. Lawyers for the trade organization told the Times that they anticipate the settlement will be filed in the coming weeks, however it will still be subject to court approval.

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Legal Agents Realtors Real Property 540

Sacramento Appraisal Blog

MARCH 14, 2024

I heard the best description of the market this week. It made me chuckle, and I hope you like it too. I mean, how can you go wrong when relating the housing market to nachos? I also have some emerging trends to talk about below. UPCOMING SPEAKING GIGS: 3/19/24 WCR Gold Country (details here) 3/21/24 2024 […] The post The housing market is like nachos first appeared on Sacramento Appraisal Blog.

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Real Estate News

MARCH 15, 2024

As a part of its proposed settlement, NAR agreed to significant policy changes that will impact how all agents do business — and how buyer agents get paid.

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Agents Buyers Business 358

Inman

MARCH 15, 2024

NextHome CEO James Dwiggins, Strategic Officer Keith Robinson and Ed Zorn, the California Regional MLS general counsel, tackle NAR's big settlement. Stream it live, exclusively at Inman.

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Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow.

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George Dell

MARCH 13, 2024

Transaction costs are added to every property transaction. Is this add-on a fair addition to the fundamental, intrinsic value a buyer gets? Is it part of the value of the home? Or is it something else? Is this a public policy issue? Is it an appraisal issue? And, is it yet one more question about […] The post Creepy Transaction Creep? appeared first on George Dell, SRA, MAI, ASA, CRE.

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Buyers Appraisal Market Value Marketing 195

Inman

MARCH 12, 2024

The acquisition will help OJO launch Lever by Movoto, which the company describes as an all-in-one technology platform for individual agents.

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Technology Agents 197

Housing Wire

MARCH 15, 2024

The National Association of Realtors (NAR) settlement of commission lawsuits nationwide is expected to force mortgage lenders and loan officers to find new ways of approaching listing agents and borrowers, give LOs a more significant role in the home-buying process, and encourage housing professionals to pursue dual-licensing, industry experts told HousingWire.

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The Appraiser Coach

MARCH 12, 2024

I want to talk today about something with which we are all familiar. I believe that we need to keep this in the forefront of our minds as business owners. This term is “opportunity cost.” The idea of opportunity cost is, “what are you missing out on when you do x ,” the idea here being that when you do activity x , you cannot also do activity y, m, z, q, etc.

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Business Appraisal Inspection Advertising 195

Real Estate News

MARCH 15, 2024

The settlement, which still requires court approval, adds a new rule prohibiting offers of broker compensation on the MLS.

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Inman

MARCH 11, 2024

Repeat-sales models have been the gold standard in home-price tracking for decades. Intel examines what they miss, and what some data providers are doing to fill in the gaps.

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Technology Brokerage Agents 196

Housing Wire

MARCH 12, 2024

The CPI report came out Tuesday, and the headline number showed a 12-month inflation of 3.2%. The running average of CPI going back to 1914 has been 3.3%. So, what should we take away from this number, seeing that market participants are still worried about 1970s inflation and some don’t want to see any rate cuts this year? Fed presidents and others have cited the fear of 1970s-style entrenched inflation as a reason they hiked rates so fast and are being careful as they consider rate cuts.

Mortgage 514

Mortgage Supply Chain Investors Government 514

Eyes on Housing

MARCH 11, 2024

Nonfarm payroll employment increased in 42 states and the District of Columbia in January compared to the previous month, while eight states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 229,000 in January, following a gain of 290,000 jobs in December. On a month-over-month basis, employment.

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Real Estate News

MARCH 15, 2024

Opinions on the settlement range from concern that it will “spell disaster” for buyers to optimism that the quality of agent services will improve.

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Agents Buyers 325

Inman

MARCH 14, 2024

Hilton Worldwide Holdings has agreed to pay $210 million for the Graduate Hotels brand, a 10-year-old company that operates hotels in some of the nations biggest college towns.

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Real Estate Marketing 195

Housing Wire

MARCH 9, 2024

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? If so, what will this do to inventory levels? Let’s look at this week’s tracker data to get clues for the future. Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously.

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Mortgage Inventory New Listings Housing Market 505

Eyes on Housing

MARCH 15, 2024

Over the first month of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over the January 2023 level of 53,062. Year-to-date ending in January, single-family permits were up in all four regions. The range of permit increase spanned 67.0%.

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Construction 187

Real Estate News

MARCH 14, 2024

Rates eased this week, but they will likely remain elevated throughout the spring months as the Fed waits to take action on interest rates.

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Mortgage 317

Inman

MARCH 12, 2024

Zillow Chief Economist Skylar Olsen said these markets are ideal cities for real estate investors to purchase properties in the coming years.

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Real Estate Investors Marketing Investing 193

Housing Wire

MARCH 14, 2024

The U.S. Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. The lawsuit was previously reported by National Mortgage News and Law360. The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housi

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Insurance Mortgage Development Legal 497

Eyes on Housing

MARCH 13, 2024

As examined in a previous post, homeownership plays an integral role in a household’s accumulation of wealth. This article further discusses the role of homeownership and examines the difference between homeowner and renter household balance sheets across assets, debt, and net worth. Households who own a primary residence (homeowners) build primary residence equity, while renters.

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Real Estate News

MARCH 11, 2024

CEO Mark Willis adds “president” to his title and confirms that about 30 people have been let go from the company.

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Inman

MARCH 13, 2024

Brittany started out as an assistant at The Agency when it first opened its doors in 2011 and is now one of the firm's most rock-solid agents. She said her family's connections and her own work ethic have helped shape her career.

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Real Estate Agents Open Houses Brokerage 190

Housing Wire

MARCH 15, 2024

Prospective homebuyers have more options to choose from in the housing market, which could help spur sales this spring. Mortgage demand has been on the rise for two weeks in a row. Inventory has been trending upward for the last two years despite persistently high mortgage rates, Mike Simonsen, president and founder of Altos Research , wrote on Monday.

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New Listings Inventory Home Value Contracts 493

GoForrmz

MARCH 12, 2024

Originally published on 05/19/2016 Elevate your HVAC business processes with digital data collection and mobile forms In today's fast-paced world, the HVAC industry is increasingly turning to mobile technology to streamline operations and enhance customer experiences. With the rise of smartphones and tablets, HVAC professionals now have access to powerful mobile forms that can revolutionize the way they do business.

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Clients Project Management Business Contracts 148

Real Estate News

MARCH 12, 2024

The association reported a fourth month of membership declines, with membership falling below 1.5 million for the first time in nearly three years.

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Inman

MARCH 11, 2024

After three years as president, Marc King has stepped down from his post at Keller Williams Realty. CEO Mark Willis will take over King's responsibilities.

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Realty Brokerage 190

Housing Wire

MARCH 14, 2024

The dream of homeownership is becoming increasingly elusive for many Americans as both home prices and insurance premiums are on the rise. Over the past decade, home prices have nearly doubled, according to the S&P CoreLogic Case-Shiller national index. Homeowners insurance premiums are climbing too. The average cost of insuring a $300,000 property surged by 12% in 2023, reaching $1,770 per year, according to a recent Insurify report.

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Insurance Buyers Finance Real Estate 492

Chicagoland Appraisal Blog

MARCH 9, 2024

Sometimes consumers equate the appraisal inspection as a professional home inspection. Aren’t they the same thing? The simple answer is no. Home Inspection A licensed home inspector performs a home inspection. He is a specialized contractor with expertise in uncovering defects in the structure and materials of various types of properties. Home inspections provide a comprehensive examination of a property’s physical condition, extending beyond mere observation to actively inspect, test, and

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Inspection Appraisal Real Estate Property Appraisal 136

Real Estate News

MARCH 12, 2024

The brokerage said the program, which launched as a pilot in September, is “good for our customers, our agents and our growth as a brokerage.

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Buyers Brokerage Agents 299

Inman

MARCH 15, 2024

Watch the latest Inman Access class to hear top performers share their best practices for listing presentations and how to consistently win listings and build lasting relationships with clients.

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Clients Agents 189

Housing Wire

MARCH 12, 2024

If a couple decides to dissolve their marriage, something that is often described as a “third character” in the proceedings is the couples’ home. Finding a way to divide a home can be financially and emotionally fraught. And it often takes on more significance than other items due to the home typically being a couple’s most valuable asset — and because of the complex emotions often intertwined with it.

Business 493

Business Mortgage Clients Finance 493

Eyes on Housing

MARCH 12, 2024

Consumer prices in February saw another uptick, primarily fueled by the increases in shelter and gasoline prices, which contributed to over 60% of the total increase. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for roughly two-thirds of the total increase in all items excluding food.

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Real Estate News

MARCH 13, 2024

A Coldwell Banker survey found a big increase in the number of sellers willing to move to another city or state as price considerations now outweigh location.

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Sellers 290