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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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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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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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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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 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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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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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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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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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 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 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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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.

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Business Mortgage Clients Finance 458

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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Real Estate News

MARCH 12, 2024

Along with the acquisition, the companies unveiled a new solo agent suite called Lever by Movoto and said OJO products will now use the Movoto brand.

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Agents 269

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 193

Housing Wire

MARCH 12, 2024

Despite elevated interest rates and tight inventory, the national Hispanic homeownership rate reached 49.5% in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. In total, more than 9.5 million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday.

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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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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 13, 2024

The high-profile luxury agent has worked with Douglas Elliman since 2021 and served as a longtime agent with Rodeo Realty before that. He will now align with Compass’s Beverly Hills office.

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Housing Wire

MARCH 12, 2024

The largest U.S. nonbank mortgage lenders continue to gain market share as the industry consolidates and a number of smaller players exit the space due to a lack of strong franchises to retain sufficient volume, Fitch Ratings reported Tuesday. Fitch expects additional consolidation in the industry as profitability remains constrained by a challenging origination environment.

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Mortgage Marketing Retail Lending 451

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 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 272

Inman

MARCH 15, 2024

Finding the harmony between tradition and innovation in luxury real estate, Mauricio Umansky writes, is about tapping into time-honored practices while still leaving room for improvisation and creativity.

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Real Estate Brokerage Agents 184

Housing Wire

MARCH 15, 2024

While many in the real estate industry were surprised by the news Friday morning that the National Association of Realtors had agreed to a nationwide settlement of the commission lawsuits for $418 million, Marty Green, a principal at law firm Polunsky Beitel Green , was not one of them. “It’s been evident since the jury in Kansas City delivered a multi-billion verdict, after barely a few hours of deliberations, that a global settlement including NAR was the only viable resolution,” Green wrote i

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Eyes on Housing

MARCH 14, 2024

According to the Federal Reserve’s G.19 Consumer Credit Report, student loans in the fourth quarter of 2023 totaled $1.73 trillion (non-seasonally adjusted), reflecting a decrease of 2.1% over the year and following an annual decrease of 1.7% in the previous quarter. The third quarter of 2023 marked the first year-over-year decrease for student loan debt.

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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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Inman

MARCH 11, 2024

Today’s housing inventory and higher interest rates might have you feeling stalled, as if you’ve reached a plateau in your business. However, there are steps to try to break through the noise of today’s market, stand out as an agent, and win more real estate listings.

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Housing Wire

MARCH 11, 2024

The fast-growing real estate firm The Real Brokerage just added to its agent count. Salt Lake City-based agent and team leader Dustin Brohm announced Monday that he and his teamerage , the Massive Agent Team , are leaving eXp Realty to join Real. Brohm and his team have been with eXp since 2018. The Massive Agent team has roughly 340 agents in 36 states and three countries, and Brohm said he expects roughly half of the team members to make the move with him to Real over the next few months.

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Agents Brokerage Realty Real Estate 445

Empire Appraisal Group

MARCH 14, 2024

Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005 Source: [link] Over the past two decades, the median homeowner tenure has jumped from 6.5 years to 11.9 years. In 2005, the median U.S. homeowner tenure was 6.5 years. In 2023, the median U.S. homeowner tenure was 11.9 years. That’s according to Redfin’s new analysis of U.S.

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Real Estate News

MARCH 9, 2024

New research from the Federal Reserve puts a price tag on changing agent compensation, pushing for it to be independent of the price paid for the home.

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