Appraisal Buzz
NOVEMBER 19, 2024
The American Dream has long been synonymous with homeownership. However, for many low- and moderate-income families, realizing this dream is becoming increasingly out of reach. This is due to several factors, including rising housing costs, stagnant wages, and a decline in the availability of small-dollar mortgages, defined as those for homes priced at $150,000 or below.
Housing Wire
NOVEMBER 20, 2024
Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. As real estate agents adjust to sweeping changes brought by the commission lawsuit settlement, a new report from discount brokerage Clever Real Estate reveals one thing hasn’t shifted: Americans still overwhelmingly trust full-service agents to sell their homes.
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Sacramento Appraisal Blog
NOVEMBER 19, 2024
The internet has been buzzing this week about Governor Newsom’s new $9.1M home purchase, so let’s talk about it. But I want to be clear that this is about real estate – not politics. Also, I think modest price growth is a really good way to describe the market. UPCOMING SPEAKING GIGS: 11/20/24 Delia Real […] The post Modest price growth & the Governor’s outlier properties first appeared on Sacramento Appraisal Blog.
Real Estate News
NOVEMBER 18, 2024
Leaders spent thousands on Hamilton tickets and other luxuries with corporate credit cards, as former execs stayed on the payroll, The New York Times reported.
Appraisal Buzz
NOVEMBER 18, 2024
This piece originally appeared in the November 2024 edition of MortgagePoint magazine, online now. The integration of artificial intelligence (AI) technology into the lending space has opened doors for countless possibilities. Loan options can be personalized, outcomes can be predicted, and all processes can be expedited at incredible rates. As AI continues to expand, it becomes increasingly important to focus on the quality of the customer experience.
Housing Wire
NOVEMBER 19, 2024
We heard a lot about the need for millions of new homes during the run-up to the election, so I can imagine how shocked some people are to see today’s report on housing starts and permits at recession levels. Minneapolis Fed President Neel Kashkari recently stated that housing demand is high so the clearance rate (mortgage rates) should be higher.
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Real Estate News
NOVEMBER 19, 2024
The new, lower-cost program also includes access to legal forms and training, and is being rolled out as NAR’s three-way agreement faces greater scrutiny.
Appraisal Buzz
NOVEMBER 20, 2024
Mortgage credit availability increased in October according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. The MCAI rose by 0.7 percent to 99.2 in October. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Housing Wire
NOVEMBER 18, 2024
What will the housing market look like in 2025? We already see many signals for what to expect, including last week’s data on inventory , new listings and price reductions, which I analyze below. For a more comprehensive look, read our 2025 Housing Market Forecast covering home prices, home sales volumes and more. Last week, there were 9% more newly pending home sales than the same week a year ago and home sales are ticking down for the season.
Inman
NOVEMBER 21, 2024
Fannie Mae and MBA forecasts dampened expectations for projected home sales in 2025 while offering a more cautious outlook on the prospects of mortgage rates coming down in the new year.
Real Estate News
NOVEMBER 20, 2024
The reversal follows 14 years of larger gains for homes in high-risk areas, suggesting that buyers may be less willing to move to disaster-prone regions.
Appraisal Buzz
NOVEMBER 19, 2024
This piece originally appeared in the November 2024 edition of MortgagePoint magazine, online now. Legal League Director D.J. (David) Mulkay The Five Star Institute is proud to welcome D.J. (David) Mulkay as the newest Director of the Legal League. Mulkay has over 20 years of experience with financial services law firms and mortgage banks. This latest role overseeing Five Star’s Legal League gives him the opportunity to leverage his experience on all sides of the industry to bring all parties
Housing Wire
NOVEMBER 22, 2024
As the U.S. housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. The Seattle-based brokerage found that real estate investor purchases dropped by 2.3% year over year in Q3 2024, representing a small change after four years of fluctuations.
Inman
NOVEMBER 21, 2024
Texas-based franchisor Keller Williams has promoted longtime team leader and MAPS coach Shanan Steere to director of growth operations, according to an announcement on Thursday.
Real Estate News
NOVEMBER 19, 2024
The National Association of Hispanic Real Estate Professionals says the much-debated policy “helps ensure all buyers have equal access to available properties.
Appraisal Buzz
NOVEMBER 21, 2024
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2024 shows mortgage applications for new home purchases increased 8.2 percent compared from a year ago. Compared to September 2024, applications increased by 3 percent. This change does not include any adjustment for typical seasonal patterns. “New home purchase activity picked up in October even as stronger economic data and election uncertainty pushed mortgage rates higher over the course of the month,” sa
Housing Wire
NOVEMBER 20, 2024
White-label brokerage Side is seeking more than $4 million from the Alexander brothers and the brokerage Official Partners. According to an amended complaint filed this week, Side alleges that Official Partners and its founders Tal and Oren Alexander committed multiple events of default on a $4.6 million promissory note Side extended in April. Side claims the current balance owed is $4.2 million, and the note continues to accrue interest.
Inman
NOVEMBER 22, 2024
EXp Realty's chief marketing officer also told Inman that the company's revenue share can be life changing for some agents, and expressed cautious optimism for the housing market in 2025.
Real Estate News
NOVEMBER 20, 2024
The luxury-focused firm announced its first franchise in the D.C. metro, which will boost its total agent count and number of offices by nearly 10% each.
Appraisal Buzz
NOVEMBER 20, 2024
The rate of critical defects found in mortgages post-closing increased to 1.81% of all loans in the second quarter, according to ACES Quality Management (ACES), a provider of enterprise quality management and control software. That’s an increase of 14.56% compared with the first quarter, the firm says in its latest Mortgage QC Industry Trends Report.
Housing Wire
NOVEMBER 22, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. The real estate market is constantly shifting, and today’s market calls for agents to return to the more tried-and-true marketing strategies. While the post-COVID market saw homes selling at record speeds, recent changes have shown us the importance of foundational tactics for success.
Inman
NOVEMBER 20, 2024
The new membership option will give agents who aren't members of local, state or national Realtor associations access to state-compliant forms as alternative to NAR's "three-way agreement.
Real Estate News
NOVEMBER 21, 2024
The turnaround for existing sales came at a time when mortgage rates were closer to 6%. With rates on the rise, economists are dialing back sales forecasts.
Appraisal Buzz
NOVEMBER 21, 2024
Nearly one in seven (13.7%) home hunters say a concern for natural disasters or climate risks in their area is a reason they are likely to move in the next year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Even more (17.5%) say a concern for safety/crime is prompting them to move. That’s according to a Redfin-commissioned survey conducted by Ipsos in September 2024.
Housing Wire
NOVEMBER 20, 2024
Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. And the soaring costs will hit as lenders try to dig out from multiple years of financial losses and mass layoffs. In early November, Fair Isaac Corp. (FICO), the company behind the widely used consumer credit-risk assessment methodology, announced an increase in its wholesale royalty for mortgage originations from $3.50 to $4.95 per score.
Appraiserblogs
NOVEMBER 22, 2024
Mark Calabria’s discussion with ARCC revealed the GSEs’ agenda to reduce “appraisal friction” by eliminating the role of professional appraisers and the appraisal process altogether. The recent discussion hosted by the Appraisal Regulation Compliance Council (ARCC) with Mark Calabria, the former Director of the Federal Housing Finance Agency (FHFA), offered a rare and illuminating glimpse into the inner workings and mindset of the nation’s housing finance regulators
Real Estate News
NOVEMBER 21, 2024
For clients, getting an offer accepted might seem like the end of the homebuying process. A new guide from NAR helps explain all the steps that follow.
Appraisal Buzz
NOVEMBER 19, 2024
The Mortgage Bankers Association ’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.47% as of October 31, 2024. According to MBA’s estimate, 235,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.4 million borrowers since March 2020. The share of Fannie Mae and Freddie Mac loans in forbearance increased seven basis points to 0.20% in October 2024.
Housing Wire
NOVEMBER 19, 2024
Homeowners are sitting on a record level of about $35 trillion in home equity — more than double the equity levels recorded prior to the financial crisis and housing market collapse of the late 2000s. But as the share of first-time homebuyers gets smaller — and older — it’s not a given that homeowners will be able to tap that resource, according to reporting by The Wall Street Journal.
Eyes on Housing
NOVEMBER 21, 2024
Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached a 2-year low in late September, according to the National Association of Realtors (NAR). While elevated home prices persist due to the lock-in effect, we.
Real Estate News
NOVEMBER 22, 2024
“Volunteers” and execs enjoy large salaries and perks, while hard-working members are the ones who bear the burden.
Appraisal Buzz
NOVEMBER 18, 2024
E-closing technology is a game-changer for mortgage lenders in optimizing their secondary market strategies, a research report from Snapdocs shows. The report, conducted in partnership with Falcon Capital Advisors, shows that e-closing technology enables lenders to achieve a pricing gain of up to 10 basis points by accelerating loan delivery to the secondary and capital markets.
Housing Wire
NOVEMBER 18, 2024
The Federal Housing Finance Agency (FHFA) on Monday announced that it will raise the 2025 multifamily loan caps for purchases by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to $73 billion each. This represents a total of $146 billion in multifamily market support for next year, an increase of more than 4% from 2024 levels.
Inman
NOVEMBER 21, 2024
Over 491,000 homesellers have filed claims for a portion of the $700 million raised by real estate settlements in Sitzer, with more to come before May 2025 deadline.
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