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Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. It will likely take mortgage rates to go under 6% and stay there for an extended period to get real sustained demand growth from record-low sales levels. However, considering the affordability challenges with the housing market , it’s good to see a flip in the housing data without rates getting under 6%.
The CoreLogic Home Price Index (HPI) and HPI Forecast for August 2024 have been released by CoreLogic , revealing that although gains are expected to drop to less than 1% by next spring, home price growth picked up to about 4% year-over-year in August. Mortgage rates fell to their lowest point in over two years during the final week of September, as reported by Freddie Mac.
The 1990s are back in style. Big pants, Nirvana t-shirts, and Doc Martens. And even the housing market feels a bit like the ’90s. Let’s talk about it. UPCOMING SPEAKING GIGS: 10/18/24 Prime Real Estate (private) 10/22/24 Culbertson and Gray Group (private (I think)) 10/23/24 SAFE Credit Union (details TBA) 10/29/24 Orangevale MLS Meeting 11/7/2024 […] The post The housing market has ’90s vibes first appeared on Sacramento Appraisal Blog.
In its latest consumer guide, the association offers general education about MLSs while alluding to the ongoing debate over its Clear Cooperation Policy.
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Labor over Inflation has been the theme for mortgage rates to go lower in 2024, with the understanding that as soon as the labor market softens, the 10-year yield should head lower, which it has. However, it works both ways. Recently, I’ve written that mortgage rates may have bottomed for 2024 because they got toward the low-end range of my 2024 forecast , and unless the labor market gets much weaker, this is it.
Following the Federal Reserve ‘s 50 basis point reduction in the jumbo rate in September, mortgage rates significant fell to a 24-month low, prompting sellers to move. The Realtor.com 2024 September Housing Report states that actively listed properties increased by 34.0%, while newly listed homes increased by 11.6% over the previous September. This represents a major reversal from the 0.9% fall in August 2024.
Following the Federal Reserve ‘s 50 basis point reduction in the jumbo rate in September, mortgage rates significant fell to a 24-month low, prompting sellers to move. The Realtor.com 2024 September Housing Report states that actively listed properties increased by 34.0%, while newly listed homes increased by 11.6% over the previous September. This represents a major reversal from the 0.9% fall in August 2024.
Around every corner, someone wants appraiser’s to buy their technology. We get techhype – buy our wonderful. “Prove your adjustments.” “Bulletproof your reports.” Technology of computers and especially software. “Buy our most clever delivery product.” We started with electric typewriters and adding machines. Then calculators (like the hp12c) and fast dot-matrix printers. […] The post Technology: Buy or Sell?
Johnson oversaw historic — and very public — legal cases for the organization, including the buyer agent commission lawsuits and sexual harassment litigation.
The landmark antitrust lawsuit settlement agreed to by the National Association of Realtors (NAR) in March has put the practices of real estate agents in the spotlight for both regulators and clients alike. Now, with agent commissions starting to decline, agents naturally want to convey the value of their services to buyers and sellers. New research from the Federal Reserve Bank of Atlanta attempts to answer one question — can my agent get a better sale price on my home than a competing agent?
According to data provided by Epiq AACER , the 6,067 total Commercial Chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36% increase over the 4,561 filed during the same period in 2023. “As we close out the third quarter in 2024, we continue to see a steady increase in both individual and commercial filings this year to date.
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After a decade leading the trade group's legal team — including through sexual harassment scandals and numerous anti-trust commission lawsuits — Johnson is leaving.
The brokerages and non-Realtor-owned MLSs that decided to opt in to the National Association of Realtors’ (NAR) commission lawsuit settlement agreement can breathe a sigh of relief. As expected, Judge Stephen R. Bough, who is overseeing the Sitzer/Burnett and Gibson/Umpa suits, granted preliminary approval to the 13 brokerages and 15 MLSs that chose to settle the commission lawsuits via the opt-in mechanism negotiated by NAR in its settlement.
With Hurricane Helene, the eighth named storm of the season, having made landfall as a Category 4 hurricane in Florida’s Big Bend region last Friday , cleanup from this devastating storm is underway, as people piece their lives back together after Mother Nature wreaked havoc throughout the Southeastern U.S. The death toll currently stands at 140-plus from Hurricane Helene, and CoreLogic announced initial residential and commercial storm surge and wind loss estimates for Hurricane Helene for insu
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.
Compliance expert Summer Goralik tackles why the commission-splitting debate remains unresolved and whether listing agreements should still include buyer agent compensation fields.
Katie Johnson is stepping down from her role as chief legal officer for the National Association of Realtors. CEO Nykia Wright informed NAR members of the news in an email sent Tuesday and obtained by HousingWire. Johnson, who has spent 17 years at the trade association, has also been serving as NAR’s chief membership experience officer. Her last day will be Oct. 4.
Realtor.com has found that , amid rising home prices and mortgage rates, real estate investors are still finding hidden gems in affordable metros across the country, with Dayton, Ohio, standing out as the top destination for property investment in 2024. “For buyers interested in investing in rental properties or other real estate, it’s key to know which areas are both affordable and in high demand to be able to capitalize on any investment opportunities, especially with today’s higher prices and
University of Buffalo contracts law professor Tanya Monestier's sample form makes clear the buyer is on the hook for buyer broker compensation so long as they successfully close a deal.
More than 16 million Americans who are 65 or older are living alone, but the depth of their experiences is largely unknown. This is according to a recent story published by KFF Health News. “This slice of the older population has significant health issues: Nearly 4 in 10 seniors living alone have vision or hearing loss, difficulty caring for themselves and living independently, problems with cognition, or other disabilities, according to a KFF analysis of 2022 census data,” the story explained.
This piece originally appeared in the September 2024 edition of MortgagePoint magazine, online now. As the mortgage industry adjusts to changes in regulatory compliance, rising interest rates, declining purchase volume, and overall economic uncertainty, servicing becomes more important to both mortgage holders and their homeowners. Homeowners are increasingly interested in a seamless and digital, user-friendly experience throughout the mortgage journey, from application to closing and on to t
New CEO Nykia Wright told NAR's board of directors the trade group's next step will be to develop a "comprehensive" litigation strategy and size up any additional legal exposure related to its rules.
In a fourth amended complaint, Top Agent Network has doubled down on its allegations that Clear Cooperation is anticompetitive and anti-consumer choice.
A stronger than expected September jobs report is not great news for the Federal Reserve or the housing industry, which was hoping for a swift decline in interest rates. Data from the U.S. Bureau of Labor Statistics released on Friday shows that 254,000 non-farm payroll jobs were added in September. This is higher than the average monthly gain of 203,000 jobs over the past 12 months.
It might go without saying that a junk-cluttered yard does a home seller no favors—in fact, six in 10 real estate agents estimate that an unkempt front yard decreases a property’s value by 20% or more. But what constitutes junk? Trash or discarded building materials? Sure. What about a boat, RV, or children’s toys? What if a neighbor is the clutter-collecting culprit—could the adjacent property take a home-value hit?
Most real estate professionals say little has changed since new commission rules went into effect in August. But for a smaller group, the changes have unleashed a completely different experience.
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. It’s almost that time of year! The leaves are starting to turn, kids are back in school, and the fall real estate market is in full swing. We have only three months until the end of the year, so if you’re looking to close a few more deals and fill your pipeline for the spring, the time to put in the work is now.
According to a new Redfin analysis, in the first eight months of 2024, only 25 out of every 1,000 U.S. homes changed hands, representing the lowest turnover rate in decades. Further data found that some 31% fewer homes were sold this year than in the final pre-pandemic year of 2019 (36 of every 1,000), and 37.5% fewer homes were sold this year than during the peak of the pandemic buying frenzy in 2021 (40 of every 1,000).
It seems everyone's talking about Clear Cooperation these days. Is the policy a power grab from NAR and the MLSs or a sincere effort to level the playing field for buyers?
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