Sat.May 27, 2023 - Fri.Jun 02, 2023

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Is Opendoor starting to turn things around?

Sacramento Appraisal Blog

The iBuyer model got destroyed last year when the housing market shifted, but is Opendoor starting to turn things around? Today I want to look at some stats in the midst of a market full of drama. SERIOUS REAL ESTATE DRAMA It’s been drama this past week with debt ceiling conversations and rates above 7% […] The post Is Opendoor starting to turn things around?

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House bill would incentivize home selling in effort to boost supply

Housing Wire

A duo of bipartisan U.S. House of Representatives lawmakers introduced a bill earlier this year that is designed to increase the supply of available homes on the market. And in order to bring more attention to the issue, the lawmakers recently made a public push about what the bill would do if passed. The “More Homes on the Market Act,” unveiled in March by Reps.

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Watch out — the industry’s mind-boggling transformation isn’t over

Real Estate News

Don’t let this transformative moment intimidate you. Industry experts Stefan Swanepoel and Jack Miller of T3 Sixty say it’s an opportunity built on history.

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David Doctorow steps down as CEO of Realtor.com parent Move, Inc.

Inman

Doctorow oversaw the company as its revenues and site traffic rose to record highs, the company said. But as with the rest of the industry, Move has shown signs of a slowdown.

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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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The Decision to Act

The Appraiser Coach

The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a great idea?” And, quite often, their idea really is good. But there’s something very important that separates good ideas from successful implementation. Nothing would happen if good ideas weren’t acted upon.

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Where are home prices heading? Economists are split

Real Estate News

With so many factors pushing and pulling on the economy right now, there is little consensus on whether prices will rise or fall in the coming year.

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Despite Headwinds, Job Openings Rise

Eyes on Housing

The count of open, unfilled jobs for the overall economy moved higher in April, rising to 10.1 million and complicating the June Federal Reserve decision. The higher job opening count for April increases the chance of another rate hike despite some speculation that May was the end of tightening. The count of open jobs was 11.8 million a year ago.

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The Decision to Act

The Appraiser Coach

The key to success isn’t great ideas. Everyone has great ideas. I’ve had so many people come to me with an idea they had and say, “Dustin, isn’t this a.

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Pretium Partners to acquire 4,000 D.R. Horton rental homes in $1.5B deal

Housing Wire

Real estate investment management firm Pretium Partners is acquiring thousands of homes from home construction company D.R. Horton Inc. in a $1.5 billion deal, as Bloomberg first reported. The deal includes a combination of completed homes and homes that are not yet finished, according to the outlet, which cited people familiar with the transaction who asked not to be named.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

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.

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Federal plan aims to root out racial bias in home appraisals

Real Estate News

The PAVE task force, a joint venture of HUD and other agencies, presented an action plan to address appraisal bias and increase diversity in the industry.

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Will AI replace real estate agents?

Inman

While AI has the potential to automate and certainly enhance many aspects of the real estate industry, writes California Realtor Ken Sisson, it is unlikely to replace human agents completely anytime soon.

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Home Prices Rebound in March

Eyes on Housing

After seven consecutive months of decline, home prices climbed for a second straight month in March as low inventory levels persist. Locally, five metro areas, reported by S&P Dow Jones Indices, experienced negative home price appreciation in March. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth.

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Home prices accelerated in March even as mortgage rates climbed

Housing Wire

Low housing inventory and still-strong demand kept prices high in March, according to the latest according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. The annual growth rate in March 2023 was up 0.7%. On a month-over-month basis, the index was up 1.3% before seasonal adjustment. This was the second month-over-month increase following seven consecutive month-over-month decreases.

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3 things to know about the class action commissions lawsuit

Real Estate News

As the Moehrl vs. NAR, et al., lawsuit moves forward, these key details can help real estate pros understand the basics.

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What are the trending interior design colors for 2023?

Inman

When listing a luxury property, agents must bear in mind that buyers’ expectations are higher than ever. They want to see a home that aligns with the aspirational architectural content they watch and read. And color can effectively illustrate that designer lifestyle.

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How Do I Move to EBV? Pt III(a)

George Dell

Evidence Based Valuation© – EBV exemplifies the best of what has been called “appraisal modernization.” Do current standards help our progress, or are they in the way of the best future? Part I is an overview. Part II is on education. Standards intertwine with education. Here in Part III we start our multi-part look at USPAP […] The post How Do I Move to EBV?

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Jobs data shows the truth about the labor market

Housing Wire

We’ve had some odd job reports over the years, but the key is to always follow the trend. That’s especially important with Friday’s data , which showed 339,000 jobs were created in May even while the unemployment rate increased. As someone who wrote that we should get job openings toward 10 million in this expansion, I am always mindful of my other labor talking point.

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4 ways to manage challenging clients

Real Estate News

Some clients just make agents' jobs harder — either intentionally or through lack of experience. But those challenges can also be opportunities for growth.

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KW, Coldwell Banker and others sued over alleged discrimination

Inman

The new lawsuit claims that a host of big-name real estate companies, as well as various landlords, refused to accept Section 8 vouchers for lower-income renters.

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AMC Fee Impact on Appraisal Fee

Appraiserblogs

While the borrower was charged $695 for the appraisal, the appraiser was only paid $301. The AMC fee was $394. We often hear complaints from GSEs and lenders that appraisal fees are too high, hence the push for modernization. Yet they fail to acknowledge that this is due to an overly bloated middleman – the appraisal management company (AMC). As a consumer, you should be aware of the potential for being fleeced on appraisal fees.

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California Senate OKs bill for affordable housing on nonprofit-owned land

Housing Wire

The California State Senate passed a bill this week that would permit the construction of affordable housing units on land owned by faith-based institutions and nonprofit colleges, even if local zoning ordinances and laws would normally prevent construction. The bill, introduced last December by Sen. Scott Wiener (D-San Francisco), is designed to reduce barriers faced by nonprofit organizations, churches, synagogues and mosques for constructing multifamily housing units on their properties.

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4 of real estate's top leaders offer a look behind the curtain

Real Estate News

CEOs Andy Florance, David Doctorow, Gino Blefari and Nick Bailey shared exclusive, and sometimes controversial, insights with Real Estate News.

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Side restructures, wants staffers based in the markets they serve

Inman

The company, which supports real estate professionals who want their own brand, plans to have its staff members work in the markets where its partners are based.

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Slower Growth for AD&C Loans

Eyes on Housing

Despite some negative reporting about private builder access to acquisition, development and construction (AD&C) financing, the volume of total outstanding loans posted a gain during the first quarter of 2023, albeit at the slowest growth rate since the end of 2020. Nonetheless, interest rates for these loans have increased as the Fed has raised the federal funds rate.

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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The proposed rule would also implement quality control standards that govern the use of automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans.

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Doctorow out as Move Inc CEO; News Corp exec to take over

Real Estate News

David Doctorow is stepping down as CEO of Move Inc, parent company of Realtor.com. News Corp exec Damian Eales starts on June 12.

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ChatGPT plugin to empower Zumper search experience

Inman

Machine learning has been a component of Zumper's overall solution for some time, but its ChatGPT use will enhance consumer-facing interactions primarily in terms of search, according to the company.

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Private Residential Construction Spending Rises in April

Eyes on Housing

Private residential construction spending inched up 0.5% in April, as spending on multifamily homes increased 0.6%. Private residential construction spending increased for the first time since June 2022 amid elevated mortgage interest rates. However, it is still 9.2% lower compared to a year ago. The total construction monthly increase is largely attributed to more spending on multifamily construction, which rose.

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UBS to close business in U.S. mortgage trading unit

Housing Wire

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. The decision is part of UBS’s strategy to focus more on financing mortgage originators , the outlet said, citing an anonymous source discussing non-public information who asked not to be identified.

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KW Cares marks 20 years, offers model for brokerage leaders

Real Estate News

The fund has helped thousands of KW associates and their families. The nonprofit's CEO offers tips for other brokerages looking to follow their lead.

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Heading into summer, Airbnb is going head-to-head with the hotels

Inman

It grew from a way to earn a little extra money renting out a room to a $67B behemoth. Now, heading into a busy travel season, Airbnb looks to return to its roots.

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WSJ Says a Housing Bust is Coming For Small-Time Investors—Here’s Why They Might Be Right

BiggerPockets

The Wall Street Journal is predicting a rough future for syndicate investors.

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