Appraisal Buzz

OCTOBER 16, 2024

According to the Realtor.com September Rental Report, there remains a geographical gap in the rental market despite a national trend of overall rent declines. Despite a nationwide decline in rent, nine of the ten Midwestern markets included in the 50-metro survey experienced year-over-year increases in rent in September. On the other hand, eight out of ten of the markets that saw the largest rent cuts last month were in the South, primarily due to an increase in the number of new multi-family ho

Sellers 419

Sellers Buyers Marketing Mortgage 419

Housing Wire

OCTOBER 17, 2024

The U.S. economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae ‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from 3.2% in 2023 to 2.3% in 2024 and 2% in 2025.

Sellers 511

Sellers Mortgage Buyers Business 511

Sacramento Appraisal Blog

OCTOBER 16, 2024

Who is buying in today’s housing market? Some say it’s only the wealthy or institutional investors, and first-time buyer are missing in action. What do stats show when we look at forty local neighborhoods? Let’s find out. UPCOMING SPEAKING GIGS: 10/18/24 Prime Real Estate (private) 10/22/24 Culbertson and Gray Group (private (I think)) 10/23/24 SAFE […] The post Which neighborhoods are doing better than others?

Real Estate 350

Real Estate Investors Housing Market Buyers 350

Real Estate News

OCTOBER 17, 2024

The DANGER Report took a “frank and sometimes searing” look at the risks facing agents, brokers, associations, MLSs and the National Association of Realtors.

Real Estate 278

Real Estate Realtors Agents 278

Appraisal Buzz

OCTOBER 18, 2024

The U.S. Census Bureau and the U.S. Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. Single-family housing starts in September improved for the second consecutive month, as builder sentiment has improved. HUD and the Census Bureau found that privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,354,000, which was 0.5% below the revised August estimate of 1,361,000, 0.7% below the Se

Construction 419

Construction Housing Market Inventory Home Value 419

Housing Wire

OCTOBER 17, 2024

Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. Fair Isaac Corp. (FICO), the company that retains the rights to the market’s widely adopted consumer credit-risk assessment methodology, is expected to raise the price for mortgage credit scores from $3.50 to at least $5, according to the estimates.

Investors 528

Investors Retail Mortgage Business 528

Real Estate News

OCTOBER 15, 2024

“People are buying” — and living in — these futuristic homes, with dozens sold at a community in Texas, and more widespread adoption expected in five years

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Appraisal Buzz

OCTOBER 18, 2024

The next installment in the Five Star Institute Webinar Series will be held Thursday, November 7 at 1:00 p.m. Central when Five Star, in partnership with Consolidated Analytics , presents “ Claims Management Best Practices: Reducing Losses and Maximizing Recoveries.” The Five Star Institute Webinar series aims to broaden the horizons of the mortgage industry.

Investors 398

Investors Mortgage Lending Real Estate 398

Housing Wire

OCTOBER 18, 2024

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. In an email sent Friday morning, Provident said that it would “no longer be accepting new applications for condominiums ” effective that day. Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m.

Marketing 521

Marketing Mortgage Finance Inventory 521

Eyes on Housing

OCTOBER 18, 2024

With the Federal Reserve beginning an easing of monetary policy and builder sentiment improving, single-family starts posted a modest gain in September while multifamily construction continued to weaken because of tight financing and an ongoing rise in completed apartments. Overall housing starts decreased 0.5% in September to a seasonally adjusted annual rate of 1.35 million.

Construction 179

Construction Finance 179

Real Estate News

OCTOBER 17, 2024

Mortgage rates moved up again, but for the market as a whole, “the worst may be behind us.” Plus, improving builder optimism could mean more future supply.

Buyers 248

Buyers Mortgage Marketing 248

Appraisal Buzz

OCTOBER 17, 2024

The October 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group revealed that the economy now looks to be on firmer footing than previously thought, following annual revisions to the national accounts and an improvement in payroll employment growth in both August and September. The ESR Group still anticipates a slowdown in economic growth from the strong 3.2% pace seen in 2023, but it will be less severe than previously anticipated.

Mortgage 398

Mortgage Marketing Buyers Appraisal 398

Housing Wire

OCTOBER 15, 2024

About a year ago, I started noticing a parallel between the housing market and the labor market. Unemployment in the country is very low. Everyone has a job. The conventional wisdom for almost three years has been that job market must weaken, unemployment must be rising. But for three years, unemployment has stayed low. Normally when unemployment is this low, people are confident that they’ll find a new job and they are much more likely to quit a current gig that isn’t right for them.

Inventory 504

Inventory New Listings Sellers Marketing 504

Inman

OCTOBER 18, 2024

A majority of the 1,200 Flagstar employees being let go in $1.4 billion sale of the company's mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper.

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Business Mortgage 185

Real Estate News

OCTOBER 15, 2024

Nearly a quarter of first-time buyers may wait even longer, to see if down payment help or other candidate promises materialize in 2025, a Redfin survey found.

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Buyers 244

Appraisal Buzz

OCTOBER 17, 2024

According to statistics from the September 2024 Builder Application Survey (BAS) by the Mortgage Bankers Association (MBA), mortgage applications for the purchase of new homes grew by 10.8% over the previous year. The number of applications fell by 6% from August 2024. There is no adjustment made for normal seasonal variations in this alteration. “Applications for new home purchases declined in September, consistent with seasonal patterns, and continued to run ahead of last year’s pace,” said Jo

Mortgage 397

Mortgage Contracts Construction Buyers 397

Housing Wire

OCTOBER 16, 2024

Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association ’s (MBA) weekly application survey for the week ending October 11, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 17% on both a seasonally adjusted and an unadjusted basis from one week earlier.

Mortgage 512

Mortgage Inventory Buyers Marketing 512

Inman

OCTOBER 17, 2024

Fannie Mae economists say surprising strength of the U.S. economy means home prices are likely to keep rising, and mortgage rates may not come down as quickly as previously expected.

Mortgage 185

Mortgage Marketing 185

Real Estate News

OCTOBER 15, 2024

A new statement from the agency suggests that when information is shared only among competitors — like trade group members — it sets off antitrust alarm bells.

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Appraisal Buzz

OCTOBER 14, 2024

Zillow has found that Hispanic homeowners are making great strides in narrowing the home value gap with white homeowners over the past two years—regaining ground lost during the pandemic. The gap is now the narrowest ever observed. Hispanic-owned homes are currently worth 11.9% less than homes owned by non-Hispanic white households, down from 12.1% last year and a recent high of 12.4% in December 2021.

Home Value 394

Home Value Construction Buyers Mortgage 394

Housing Wire

OCTOBER 16, 2024

About a week after the Federal Reserve lowered benchmark interest rates for the first time since the start of the COVID-19 pandemic, mortgage rates reached their low point for 2024. The news has not been so positive since then for U.S. consumers or the housing industry. According to HousingWire’s Mortgage Rates Center, the average 30-year conforming rate bottomed out at 6.24% on Sept. 27.

Mortgage 468

Mortgage Buyers Government Tools 468

Inman

OCTOBER 14, 2024

More than 89 percent of active sellers told Intel they're open to covering the buyer’s commission — even as homebuyers increasingly seek to negotiate lower commission rates with their own agents.

Agents 186

Agents Sellers Clients Buyers 186

Real Estate News

OCTOBER 16, 2024

A range of competing factors are driving volatility in rates, making it harder to forecast their direction — but they're likely to decline further this year.

Housing Market 243

Housing Market Marketing Mortgage 243

Appraisal Buzz

OCTOBER 14, 2024

This piece originally appeared in the October 2024 edition of MortgagePoint magazine, online now. On July 10, 2024, the Consumer Financial Protection Bureau (CFPB) introduced a proposed regulatory amendment aimed at intensifying the obligations of mortgage servicers to assist borrowers prior to initiating foreclosure proceedings. This proposal represents a substantial modification of existing regulations mandating that servicers exhaust all potential loss mitigation options before commencing f

Mortgage 391

Mortgage Inspection Real Estate Investors 391

Housing Wire

OCTOBER 13, 2024

Housing inventory, which saw an excellent pickup a few weeks ago, has been slowing down and last week we saw a slight decline. Has seasonality finally kicked in or did back-to-back hurricanes slow things enough to influence inventory data? Weekly housing inventory data Four weeks ago was the best week of inventory growth in 2024, as we hit my model range without higher mortgage rates : I gave it the chef’s kiss.

Inventory 505

Inventory New Listings Retail Mortgage 505

Eyes on Housing

OCTOBER 15, 2024

In 2023, 64.8% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 62.6% recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). This marks the third highest share since the beginning of the series in 2009, after the high.

Construction 179

Construction Buyers 179

Real Estate News

OCTOBER 14, 2024

More than half of recent sellers say they negotiated with their agent to lower the commission, according to new survey data from Zillow.

Sellers 264

Sellers Agents 264

Appraisal Buzz

OCTOBER 15, 2024

The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE Mortgage Technology , indicates a drop in mortgage credit availability in September. Key Findings from the Mortgage Credit Availability Index: In September, the MCAI dropped by 0.5% to 98.5. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 388

Mortgage Government Lending Construction 388

Housing Wire

OCTOBER 15, 2024

The Federal Communications Commission (FCC) — the regulatory body that oversees communications across a wide variety of media including radio, telephone and the internet — announced that new rules related to the Telephone Consumer Protection Act (TCPA) will go into effect in April 2025. The new guidelines are designed to make it easier for consumers to revoke consent for unwanted robocalls and texts.

Design 480

Design Real Estate Mortgage Business 480

Eyes on Housing

OCTOBER 15, 2024

Nationally, across the 86 million owner-occupied homes in the U.S., the average annual real estate taxes paid in 2023 was $4,112, according to NAHB analysis of the 2023 American Community Survey. Homeowners in New Jersey continued to pay the highest real estate taxes, paying an average of $9,572, 30.6% higher than the second highest, New.

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Property Taxes Real Estate 179

Real Estate News

OCTOBER 18, 2024

A recent survey found that while both veterans and civilians are feeling more prepared to buy, veterans are more likely to purchase a home in the next year.

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Appraisal Buzz

OCTOBER 18, 2024

Realtor.com has produced a new analysis ahead of the November presidential election that attempts to forecast how demographic changes can alter the political landscape using proprietary data on county-level 2020 election results and geographic home shopping trends. In addition to changing views on important issues like housing affordability for both homeowners and renters, shifting opinions on these issues could influence the outcome of this presidential election.

Buyers 369

Buyers Real Estate Appraisal Marketing 369

Housing Wire

OCTOBER 16, 2024

Researchers at the U.S. Department of Housing and Urban Development (HUD) have published a new report identifying the locations of people seeking Federal Housing Administration (FHA) rental and homeownership assistance programs. They found that homeownership program beneficiaries generally live in more affluent, racially homogenous neighborhoods than those seeking rental assistance.

Tenants 482

Tenants Investing Housing Market Mortgage 482

Inman

OCTOBER 13, 2024

The better your listing marketing plan, the better the results, and the more listing opportunities you will have in the future. Jimmy Burgess offers a step-by-step strategy for winning now.

Marketing 184

Marketing Agents 184