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
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
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
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 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 31, 2024
In the “spirit” of Halloween, a new survey finds that many people would settle for a haunted house over one with maintenance issues or political neighbors.
Housing Wire
OCTOBER 28, 2024
The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado. The maximum LTV ratio will increase from 80% to 90% for appraisal waivers and from 80% to 97% for inspection-based appraisal waivers, consistent with standard guide eligibility guidelines.
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 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 30, 2024
Revenue was also up, and CEO Robert Reffkin said top agents have been able to increase commissions “since they are now able to negotiate for themselves again.
Housing Wire
OCTOBER 28, 2024
After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. In a document filed on Monday in U.S. District Court in Kansas City — less than a month before the NAR settlement is slated for its final approval hearing — Monestier took issue with the business practice changes, sayi
Appraisal Buzz
OCTOBER 31, 2024
Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. The average buyer’s agent commission for homes sold in October was 2.34%, ticking down just one basis point from 2.35% for homes sold in August, when the new changes took effect.
Inman
OCTOBER 31, 2024
Onward BOLD gives Keller Williams agents access to lead generation resources, among many other things. The program is relaunching amid a period of upheaval for the real estate industry.
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 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 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
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
Scott Durkin, who led Douglas Elliman Realty, was terminated just days after the CEO of its parent company stepped down.
Housing Wire
NOVEMBER 1, 2024
HousingWire is excited to announce the honorees of this year’s Tech Trendsetters award. The Tech Trendsetters are made up of the top product and technology leaders who have been essential in bringing innovative tech solutions to market for mortgage and real estate clients. Similar to the HousingWire TECH100, which celebrates the most innovative companies in mortgage and real estate tech, Tech Trendsetters highlights the individuals who are developing cutting-edge technology and leading inn
Appraisal Buzz
NOVEMBER 1, 2024
According to a new Redfin research, in Q3 of this year, an estimated 28% of single-family homes for sale nationwide were newly constructed, the lowest percentage in three years. That is lower than the record-high 34.4% at the beginning of 2022 and 30.5% a year ago. For a number of factors, the proportion of newly constructed homes for sale has decreased from its peak, including: The market has seen an increase in existing inventory.
Inman
OCTOBER 30, 2024
A recent initiative by professional sports organizations is seeking to do what Realtors have been doing for more than a year: Pledging to do more to create inclusive communities.
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 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 29, 2024
According to a recent Redfin study, just over two-thirds (68.7%) of millennial/Gen Z homeowners feel their financial situation has improved over the past four years, compared to just over half (52.2%) of millennial/Gen Z renters. The primary question asked was: “Would you say you are better or worse off financially than you were 4 years ago?” Respondents were asked to select one of five answer choices: Much better off financially Slightly better off financially Much worse off financially Slightl
Inman
OCTOBER 30, 2024
Relief would be good news for would-be homebuyers, although purchase loan applications are still up 10 percent from a year ago as mortgage rates hit highest levels since July.
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