Housing Wire
OCTOBER 26, 2024
Since mid-2022 when mortgage rates headed higher , two facts have been apparent: new listings data has been trending at the lowest levels ever recorded in history and inventory has been able to grow from record low levels thanks to mortgage rates staying elevated. We’ve seen some growth in new listings this year compared to 2023 levels, which is good for housing.
Appraisal Buzz
NOVEMBER 1, 2024
A recent WalletHub report sheds light on mortgage delinquency rates across 100 U.S. cities, with rates spanning from around 3% to a staggering 23%. Based on data collected between Q1 and Q2 of 2024, WalletHub’s study ranks cities according to the proportion of mortgage holders behind on payments, a critical metric in assessing financial strain within communities.
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Sacramento Appraisal Blog
OCTOBER 31, 2024
Prices have been pretty flat. That’s a really good way to describe the housing market lately in many areas across the country. Let’s talk about that today as well as dig into insurance. I have some encouragement to share too about mindset. UPCOMING SPEAKING GIGS: 11/7/2024 Think Like an Appraiser (3 hours) TBA 11/19/24 Downtown […] The post Flat prices & the insurance mess first appeared on Sacramento Appraisal Blog.
Real Estate News
OCTOBER 29, 2024
A law professor filed a lengthy objection calling it “the worst of all possible worlds,” raising concerns about “chaos and frustration” as well as legal fees.
Housing Wire
NOVEMBER 1, 2024
Today’s jobs report showed the lowest job-growth data for the year at 12,000. You would think this would cause the 10-year yield and mortgage rates to go lower. At first, this did happen, but after more digestion of the data, not only did the bond market give up all the early morning gains, but it headed higher for the day, which confused many. So, I will give you my best explanation, but I need to show all the data that came out this week.
Appraisal Buzz
OCTOBER 30, 2024
The National Association of REALTORS (NAR) reports that pending home sales increased in September. Transactions increased month over month in all four major regions. While sales in the Midwest and South stayed stable, the Northeast and West saw gains year-over-year. September saw a 7.4% increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, the highest level since March (78.3).
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Real Estate News
OCTOBER 30, 2024
With less than a month until the deals are finalized, objectors are making claims of insufficient damages, harm to minorities, lack of accountability and more.
Housing Wire
OCTOBER 31, 2024
Interior property data company CubiCasa announced the launch of an interactive touring product for listing agents. The new CubiCasa Tour product will create interactive, virtual property tours within minutes. The new product uses similar software to CubiCasa’s Floor Plans, another virtual listing tool that builds floor plans in five minutes or less.
Appraisal Buzz
OCTOBER 30, 2024
It’s been a year of cautious growth for luxury real estate, so it’s the perfect time for PropertyShark to come up with a list of the 100 most expensive zip codes in America. And the winner is … Atherton, California (again). Located just north of Menlo Park in northern California, Atherton takes the crown for the most expensive zip code in the nation for the eighth consecutive year, with a 2024 median sale price of $7,900,000.
Inman
OCTOBER 31, 2024
Commissions have been slowly declining over the last decade, but since the NAR settlement terms went into effect this summer, buyer's agent commissions have seen little impact.
Real Estate News
NOVEMBER 1, 2024
10 questions every listing agent had better be able to answer, from whether to list on the MLS or offer buy-side compensation to what goes into pricing a home.
Housing Wire
OCTOBER 30, 2024
Lower mortgage rates in September had a measurable impact on home sales. According to data released Wednesday by the National Association of Realtors (NAR), pending home sales in September jumped 7.4% compared to August and 2.6% year over year. NAR’s index reading of 75.8 is the highest number since March. An index reading of 100 equates to sales activity in 2001.
Appraisal Buzz
OCTOBER 28, 2024
The Mortgage Bankers Association (MBA) has announced that total mortgage origination volume is expected to increase to $2.3 trillion in 2025 from the $1.79 trillion expected in 2024. Purchase originations are forecast to increase 13% to $1.46 trillion next year. By loan count, total mortgage origination volume is expected to increase by 28% to 6.5 million loans in 2025 from the 5.1 million loans expected in 2024.
Inman
OCTOBER 31, 2024
Judge Stephen Bough granted approval for settlements involving Compass, Douglas Elliman, @properties and other companies. Collectively, the companies will pay $110 million to resolve the litigation.
Real Estate News
OCTOBER 26, 2024
There's more than $110 million at stake in a nine-brokerage commissions settlement hearing next week, while eXp has come under fire for its recent deal.
Housing Wire
OCTOBER 31, 2024
Over the last decade, real estate transactions have increasingly become a prime target for cybercrime. Far from slowing down, the scams are becoming more prevalent, sophisticated, and difficult to recognize as fraudulent. With October being Cybersecurity Awareness Month, it is important that the real estate industry and consumers speak up and spread the word about how to prevent these real estate cybercrimes.
Appraisal Buzz
OCTOBER 28, 2024
The Federal Housing Finance Agency (FHFA) and U.S. Department of Housing & Urban Development (HUD) have released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). The addition of appraisal data from FHA expands the scope of information in FHFA’s Uniform Appraisal Dataset (UAD) , which comprises both annual appraisal-level data, as well as aggregate statistics released every quarter.
Inman
OCTOBER 28, 2024
Real estate agent Suzanne Simpson has been missing since Oct. 7. Olmos Park authorities have arrested her husband, Brad, for obstructing a search of the couple's home last week.
Real Estate News
OCTOBER 31, 2024
September’s low rates gave pending sales a boost, but as mortgage rates climb for a fifth straight week, enthusiasm is expected to wane.
Housing Wire
OCTOBER 31, 2024
California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. As part of the deal that closed Oct. 1, NerdWallet is paying $1 million in cash for the outstanding equity interests of Next Door.
Appraisal Buzz
NOVEMBER 1, 2024
The Federal Housing Finance Agency (FHFA) has issued AB-2024-05 , an Advisory Bulletin that simplifies the process for project sponsors to receive Federal Home Loan Bank (FHLBank) funds for affordable housing projects. Each of the 11 FHLBanks operates an Affordable Housing Program (AHP) providing grants or subsidized advances to fund rental housing and homeownership opportunities for low- and moderate-income households.
Inman
OCTOBER 29, 2024
In a recent webinar, Spencer Rascoff, James Dwiggins and Jack Miller discussed the future of commissions and why agents and brokers should pay attention to their legal risk.
Real Estate News
OCTOBER 31, 2024
The major independent firm announced a pair of deals this week that support its strategy of steady growth across the eastern U.S.
Housing Wire
OCTOBER 30, 2024
Some of the most powerful women in real estate have taken the industry’s coaching space into their own hands. A group of current and former real estate executives have launched The Helm, a coaching platform designed to provide professional development to a more diverse audience. Co-founded by Danielle Wilkie and Heather Frick — formerly of Compass and Oracle, respectively — The Helm aims to help both seasoned veterans and entry-level professionals.
Appraisal Buzz
OCTOBER 31, 2024
Homebuyer affordability improved slightly in September, as the national median payment applied for by purchase applicants fell to $2,041, down from $2,057 in August, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
Inman
OCTOBER 30, 2024
The Orlando Regional Realtor Association alleges the lockbox company used its confidential member list to entice members to join rival trade groups, but the company denies the allegations.
Real Estate News
OCTOBER 27, 2024
Conversational add/edit feature hailed as an MLS first; RateMyAgent to acquire Curated Social; Final Offer expands in the Northeast; Relevate inks partnerships.
Housing Wire
OCTOBER 29, 2024
Is home-price growth finally cooling? That’s a question raised by the S&P CoreLogic Case-Shiller Index for August, which showed deceleration on a year-over-year basis and a slight dip relative to July. On a non-seasonally adjusted basis, the national home price index posted a 4.2% gain year over year, less than the 4.8% gain from July. The monthly index fell by 0.1%.
Appraisal Buzz
OCTOBER 30, 2024
Mortgage application volume decreased 0.1% during the week ended October 25, as the average rate for a 30-year fixed-rate mortgage increased to 6.73%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 84% compared with the same week one year ago.
Inman
OCTOBER 29, 2024
Appraisal waiver programs that rely on automated valuation models will be expanded next year to allow participation by homebuyers putting less than 20 percent down.
Real Estate News
OCTOBER 28, 2024
The latest numbers suggest that, for the third consecutive fall season, rates will crest that dreaded threshold.
Housing Wire
OCTOBER 31, 2024
In the halls of the Colorado Convention Center on Monday, it was hard not to overhear mortgage bankers gnashing their teeth over the rumored price hikes for Fair Isaac Corp (FICO) scores. “They’ve got us by the balls,” said one mortgage pro in an interview between sales meetings at Mortgage Bankers Association (MBA) Annual 2024 in Denver. “It’s an abuse of power, a complete monopoly.” “It’s outrageous,” huffed another in an interview as he wa
Appraisal Buzz
OCTOBER 30, 2024
A new TransUnion survey has found that many consumers feel their existing mortgage and auto payments are putting a strain on their household finances, as the prospect of falling interest rates has them ready to consider refinancing those loans. TransUnion’s survey found that four in five recent home buyers say their mortgage payments are straining their finances, and are looking to refinance their mortgage payments in the next 12 months.
Inman
OCTOBER 29, 2024
CoreLogic Chief Economist Dr. Selma Hepp told Inman, “despite much-needed optimism, brought by a sharp decline in mortgage rates in August, the boost was short lived and not enough to renew homebuyers’ interest.
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