Housing Wire
NOVEMBER 7, 2023
In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. It is costing more for schools and governments to pay for services. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets.
Sacramento Appraisal Blog
NOVEMBER 8, 2023
What’s going to happen to the housing market with a presidential election year coming? There are so many ideas. I’ve heard stuff like, “Rates usually go down during a presidential year,” or “The market is likely going to be stronger because one party is trying to stay in power.” But are these things really true? […] The post The housing market during a presidential election year first appeared on Sacramento Appraisal Blog.
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Real Estate News
NOVEMBER 9, 2023
Mortgage rates took a dive this week, experiencing the largest one-week decline in a year.
Inman
NOVEMBER 6, 2023
For some buyers, purchasing a home isn’t only about finding a place to live, it's about finding a home that tells a story.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Housing Wire
NOVEMBER 6, 2023
While home prices in the U.S. held up in 2023, sales volume in the housing market cratered. Consumers care about home prices and mortgage rates; the industry cares about transaction volume. The industry is in a deep housing recession this year. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
NOVEMBER 4, 2023
Following the Sitzer/Burnett verdict, the internet has been buzzing about the end of buyer agency. Industry expert Russ Cofano says that's just a lot of noise.
Inman
NOVEMBER 10, 2023
In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases.
Housing Wire
NOVEMBER 9, 2023
As 10-year Treasury yields tumbled, the average 30-year fixed mortgage fell 26 basis points in the week ending Nov. 9, the largest one-week decrease since last November. The 30-year, fixed mortgage averaged 7.5% as of Nov. 9, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.76% and up from 7.08% the same week a year ago.
Realtor
NOVEMBER 7, 2023
iStock The costs of buying a home go well beyond the actual purchase price. If you’re a first-time home buyer , you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might also be a little more than perplexed by some of those fees. Knowing what you’re paying for when you’re buying a home—like these 10 costs of buying a home—can ease that check-writing pain.
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Real Estate News
NOVEMBER 9, 2023
Strong growth was the theme of the quarter despite a net loss. CEO Tamir Poleg also said he believed Real will come out ahead should commissions rules change.
Inman
NOVEMBER 6, 2023
Believe it or not, there are less than two months left in 2023. And there’s no better time than right now for real estate agents to evaluate their recent productivity and establish the framework for success in the year ahead.
Housing Wire
NOVEMBER 7, 2023
The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% down.
George Dell
NOVEMBER 8, 2023
Market value or comparable value? What does that mean? It means we form market value opinions. Specifically, credible market value opinions. Credible in this case must mean more than merely “…worthy of belief…” since USPAP contains no indication of who’s belief we seek. It means, therefore, worthy of the market’s belief since the market is […] The post Market Value Or Comparable Value?
Real Estate News
NOVEMBER 6, 2023
More settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.
Inman
NOVEMBER 6, 2023
Over 4 million mortgage customers have been unable to make their payments since the company announced it had been attacked on Oct. 31.
Housing Wire
NOVEMBER 4, 2023
After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? The history of economic cycles and mortgage rates would say yes, but only if the market believes the Federal Reserve is done hiking rates and being hawkish and the labor data gets softer from here.
The Appraiser Coach
NOVEMBER 7, 2023
Getting older got you thinking about retirement? Well, hopefully this isn’t the first time it’s crossed your mind. It’s never too early to think about what you want your job to look like long term. And the ideal retirement plan might look different for you than it does your neighbor. Maybe you have a last day, turn in your keys, buy an RV and travel the country.
Real Estate News
NOVEMBER 10, 2023
In a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.
Inman
NOVEMBER 8, 2023
"Batton 2," exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another new suit called Gibson.
Housing Wire
NOVEMBER 9, 2023
A total of 2,256 homebuyer assistance programs are available in the U.S. housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Among the available homebuyer assistance programs were 295 that allow borrowers to lower their interest rates by paying an upfront fee, according to DPR’s homeownership program index report.
Eyes on Housing
NOVEMBER 9, 2023
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.4% of new and existing homes sold between the beginning of July and end of September.
Real Estate News
NOVEMBER 6, 2023
In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.
Inman
NOVEMBER 8, 2023
In recognition of the entrepreneurs, venture capitalists and visionaries pushing real estate forward, the "Best of Proptech" honors cap the yearlong expansion of Inman's awards program.
Housing Wire
NOVEMBER 8, 2023
Another day and another class-action antitrust commission lawsuit accusing the real estate industry of colluding to inflate real estate agent commissions has been filed. But this latest one comes with a twist — it was filed by homebuyers, unlike the others filed by home sellers. Known as Batton 2, after the lead plaintiff Mya Batton, the lawsuit accuses Compass , eXp World Holdings , Redfin , Weichert Realtors , United Real Estate , Howard Hanna and Douglas Elliman of conspiring to artific
Eyes on Housing
NOVEMBER 7, 2023
Porches have been a popular home feature, consistently ranking in the top 10 in the NAHB surveys of recent and prospective home buyers published in What Home Buyers Really Want. And porches remain as popular as ever specifically on new homes, according to NAHB tabulation of the latest Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial.
Real Estate News
NOVEMBER 7, 2023
During a webinar, T3 Sixty leaders acknowledged that emotions are running high as they talked through potential implications of the Sitzer/Burnett verdict.
Inman
NOVEMBER 6, 2023
In physics, critical mass is a nuclear term. It’s the minimum amount of a given material that you need to set off a self-sustaining chain reaction. While that may be a good thing in nuclear physics — where you typically want to start chain reactions — you don’t usually want to see the same sort of reaction in a business setting.
Housing Wire
NOVEMBER 6, 2023
Between rising mortgage rates and soaring loan production costs this year, many lenders and brokerage leaders are reducing headcount to preserve their bottom line. As a result, many mortgage and real estate professionals may find themselves checking out LinkedIn , whether to search for a new position or make connections in anticipation of the future.
Eyes on Housing
NOVEMBER 6, 2023
A majority of new homes that completed construction in 2022 included two-car garages (66%), according to NAHB analysis of 2022 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions.
Real Estate News
NOVEMBER 7, 2023
Lance Lambert, former real estate editor at Fortune, discussed his theory of the market’s headwinds and tailwinds — and the “tug-of-war” they’re playing.
Inman
NOVEMBER 10, 2023
A new commission lawsuit filed Monday seeking class-action status alleges sellers encountered "illogical, harmful, irrational and anticompetitive effects" of NAR's cooperative compensation rule.
Housing Wire
NOVEMBER 10, 2023
In September, all-cash purchases represented one-third of the U.S. home purchases, compared to 29.5% a year ago, according to a Redfin report. It’s the highest share of all-cash transactions recorded since 2014. Cleveland posted the highest share of all-cash purchases in September, reaching 49.2% of all transactions. West Palm Beach and Jacksonville in Florida followed with 49% and 46.2%, respectively.
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