Housing Wire
AUGUST 26, 2024
Although the industry is barely than a week into the “ new normal ,” some real estate agents and brokers are already seeing smaller buy-side commissions. “It kind of started before the [ National Association of Realtors ] settlement went into effect, but commission compression is a real thing,” Brian Huskey, the broker-owner of Montana-based ERA American Real Estate , said.
Appraisal Buzz
AUGUST 30, 2024
The U.S. Commercial Foreclosure Report , recently released by ATTOM, indicates that the number of commercial foreclosures has steadily increased over time, rising from a low of 141 in May 2020 to 647 in June 2024. This pattern shows a steady rise over the course of the time. ATTOM’s latest commercial foreclosure activity analysis also noted that Since January 2014, ATTOM has been analyzing data during a period marked by the nation’s emergence from economic uncertainty, starting with 740 commer
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Real Estate News
AUGUST 29, 2024
The former CEO of RE/MAX and Century 21 says he will apply his experience helping franchise owners to his new role in real estate consulting.
Appraiserblogs
AUGUST 30, 2024
The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being charged to borrowers amounted to a staggering 65% of the total appraisal fee, with one AMC extracting as much as 84% in pure profit. The Appraisal Regulation Compliance Council (ARCC) is a crucial non-profit organization that specializes in providing fact-based research and expertise on the complex web of appraisal regulations and compliance issues.
Housing Wire
AUGUST 26, 2024
The National Association of Realtors (NAR) is facing yet another lawsuit. The latest complaint, which is seeking class-action status, was filed on Friday by eight real estate agents in Los Angeles County Superior Court. The suit claims that NAR, along with Move Inc., Move Sales , OpCity Acquisitions , OpCity Inc. and REA Group Ltd. — which, according to the complaints, are all wholly owned subsidiaries of Move and News Corp , who is also a defendant — defrauded agents by selling them fake lead
Appraisal Buzz
AUGUST 26, 2024
In July, pending sales of starter homes increased 10.2% year-over-year to the highest level since October 2022, per a new report from Redfin. This indicates that in the lower end of an otherwise “stagnant market”, there might be hope for first-time homebuyers. Middle-class homes (those with sales prices in the 35th–65th percentile of the market) saw a 6.5% decline in pending sales in July over the same month last year, while upper-class homes (those in the 65th–95th percentile) saw an even great
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Inman
AUGUST 26, 2024
The Florida-based brokerage's buyer-focused marketing and educational resources are made for agents in need of assistance as they pitch buyer representation services, executives told Inman.
Housing Wire
AUGUST 30, 2024
There is a new real estate firm in town, but one of its founders is probably familiar to many in the real estate industry. Meet Landian , a real estate startup founded by Bryan Galen, Neal Batra and Josh Sitzer — yes, the same Sitzer who filed the now infamous Sitzer/Burnett commission lawsuit. In an interview with TechCrunch , which first broke the news of Landian’s debut, Sitzer said his frustration with having to pay a 3% commission to a buyer’s agent on the sale of his Kansas City home in 20
Appraisal Buzz
AUGUST 29, 2024
Americans’ evolving work environments and other factors have led to a “difficult commercial real estate landscape in 2024,” according to an analysis of the U.S. office space market by researchers at Flatworld Solutions , national provider of data science and analytics. Their study revealed the highest commercial real estate delinquency rates since 2015 and vacancy rates topping 20% in job hubs such as San Francisco.
Real Estate News
AUGUST 29, 2024
“Our hard-won settlement paved the way for a new era,” said Josh Sitzer, whose company offers flat-fee home tour and offer preparation services for buyers.
Inman
AUGUST 26, 2024
Eight Realtors are seeking class action status in their lawsuit against Realtor.com for allegedly selling unvetted and fraudulent buyer and seller leads. This is the third lawsuit against Realtor.com and parent company Move over its lead gen business.
Housing Wire
AUGUST 28, 2024
The typical down payment for U.S. homebuyers soared to a record high of $67,500 in June, up nearly 15% from $58,788 a year earlier, according to a new report from Redfin. The increase in down payments came despite a slowdown in home price growth (4%). Redfin economists attributed it to the quirks of the current market, where higher-priced, turnkey homes in desirable neighborhoods are more likely to sell.
Appraisal Buzz
AUGUST 28, 2024
Fannie Mae and Freddie Mac have both released additional information regarding new protections for tenants in multifamily properties with mortgages backed by the Government-Sponsored Enterprises (GSEs). The protections are included in the Enterprise Multifamily Lease Standards Policy for multifamily housing providers (borrowers), announced by the Federal Housing Finance Agency (FHFA).
Real Estate News
AUGUST 28, 2024
Major brokerage leaders are telling agents to be patient with other real estate professionals (and consumers) as the industry adjusts to new practices.
Inman
AUGUST 27, 2024
In a new report, University of Buffalo contracts law professor Tanya Monestier details ways in which contracts allow buyer agents to collect more compensation than agreed-to with the buyer.
Housing Wire
AUGUST 28, 2024
While some in the real estate industry are expecting to see a decline in the number of buyer’s agents as a result of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , others have taken it a step further and are betting their companies on it. Meet the AI real estate agent. Unlike human agents, these AI agents really are available 24/7 and will quickly answer every little question you have about the homebuying process.
Appraisal Buzz
AUGUST 29, 2024
A new report from Redfin has found that the monthly housing payment for the typical U.S. starter home sold in July was $1,981, up 4.4% year-over-year. That means homebuyers must earn $79,252 annually in order to afford a typical U.S. starter home, also up 4.4% year-over-year, and just a few hundred dollars shy of last October 2023’s all-time high. The average mortgage rate was 6.85% in July, down slightly from its springtime peak, but still more than double pandemic-era lows.
Real Estate News
AUGUST 29, 2024
The association will ask the highest court to weigh in on the case after a lower court ruled that the DOJ could continue its investigation into NAR policies.
Inman
AUGUST 30, 2024
Tether RE's platform includes 24-hour safety monitoring, client verification, SOS alerts, proximity safety times and fall and crash alerts. Agent social MLS app Tuesday won Crowd Favorite.
Housing Wire
AUGUST 28, 2024
April Noessel was in dire straits. Raising five children on her husband’s salary, she began flipping houses to make ends meet. Her family fell into debt when one of their flips went sour. The bad deal was particularly galling because of the indignities it took to get the home ready to sell. “I was wearing one of my kids in a backpack, scraping magnets off the floor with a knife,” Noessel said.
Appraisal Buzz
AUGUST 28, 2024
Redfin reports that the typical down payment for U.S. homebuyers hit a record high of $67,500 in June 2024, up 14.8% from $58,788 year-over-year, marking the 12th consecutive month the median down payment has risen year-over-year. The nearly-15% jump in the median down payment significantly outpaced the increase in home prices, which were up 4% in June year-over-year.
Real Estate News
AUGUST 29, 2024
Rates are edging closer to 6%, but the downward trend still hasn’t translated into sales as potential homebuyers play the waiting game.
Inman
AUGUST 26, 2024
Pending sales of starter homes surged 10.2 percent in July, reaching their highest point since October 2022 as mortgage rates began to decline, according to data released Monday by Redfin.
Housing Wire
AUGUST 26, 2024
Affordable homes have long been in short supply for lower-income households, but data released Monday by Redfin showed positive signs for the starter-home segment. According to Redfin, pending sales of starter homes grew 10.2% year over year in July to reach their highest level since October 2022. This was in stark contrast to three other market segments that posted declines in the number of pending sales compared to July 2023.
Appraisal Buzz
AUGUST 27, 2024
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Real Estate News
AUGUST 30, 2024
With new rules in place, listing agents need to consider several factors when helping sellers determine their approach to buy-side compensation.
Inman
AUGUST 30, 2024
Landian, a flat-fee and à la carte platform, offers $49 tours and $199 for written offers to sellers, but the real bombshell may be Sitzer's involvement so soon after the $5B Sitzer | Burnett verdict.
Housing Wire
AUGUST 27, 2024
Even as the real estate and mortgage markets are seeing light at the end of the tunnel following two difficult years of conditions, mortgage rates have yet to ease enough to create a surge of demand for purchase loans and refinances. At HousingWire ‘s Mortgage Rates Center on Tuesday, the rate for 30-year conventional loans stood at 6.64%, down 5 basis points (bps) from a week ago.
Appraisal Buzz
AUGUST 28, 2024
With remote work now the norm in many companies, employees can choose their address based on lifestyle, not commute. So where are the best cities in America for remote workers? Atlanta, take a bow. The Big Peach earned its top spot on the list of 2024’s most affordable cities for its stable economy, low unemployment rate, and remote work factors such as speedy internet and numerous coworking spaces.
Real Estate News
AUGUST 26, 2024
Brokerages need to define their purpose in this new era, says Keller Williams CEO Mark Willis, and training, tech will be key to KW’s identity.
Inman
AUGUST 27, 2024
With confusion around the new commission rules, compliance expert Summer Goralik unpacks whether listing agents should verify signed buyer-broker agreements before showing a property.
Housing Wire
AUGUST 29, 2024
As the U.S. workforce continues to age commensurately with the population at large, a new report by U.S. Money Reserve illustrates that the highest concentration of older workers — those at or over the age of 65 — are concentrated in the New England region of the country. Based on data from the U.S. Census Bureau ’s 2022 American Community Survey released last year, Vermont was found to have the highest share of its over-65 population active in the workforce. 24.8% of the retirement-age populati
Appraisal Buzz
AUGUST 27, 2024
The June 2024 S&P CoreLogic Case-Shiller Indices findings were made public today by S&P Dow Jones Indices (S&P DJI). In June 2024, the primary indicator of U.S. home prices hit a new record high and began to decline. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which takes into account all nine U.S. Census divisions, showed an annual growth of 5.4%, which was less than the 5.9% gain recorded in May.
Real Estate News
AUGUST 27, 2024
Watch the conversation with an agent who ditched cooperative compensation last year — and is getting deals done. See how he talks to sellers (and buyer agents).
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