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 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 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.
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.
Appraisal Buzz
NOVEMBER 22, 2024
Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023.
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.
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Inman
NOVEMBER 18, 2024
Nearly three-quarters of U.S. residents earning less than $50,000 annually are struggling to keep up with monthly rent or mortgage payments, causing many to make dramatic sacrifices to stay afloat.
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
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.
Real Estate News
NOVEMBER 22, 2024
Chronic undersupply has led to an affordability crisis, but real estate professionals can help by supporting new development in their communities, experts say.
Inman
NOVEMBER 21, 2024
Annual existing-home sales increased for the first time in more than three years in October, according to the National Association of Realtors. "The worst of the downturn in home sales could be over.
Appraisal Buzz
NOVEMBER 22, 2024
According to the Q3 2024 Verisk Remodel Index , the cost of home repairs and remodeling in the third quarter of 2024 continued to increase, rising by 1.08% quarter-over-quarter, and just over 3.35% from the third quarter of. Costs set new highs for the past decade, rising over 69.5% from Q1 of 2013. “Repair and remodeling costs continue to increase across the country, but the rate of increase is returning to pre-pandemic levels,” said Greg Pyne, VP, Pricing for Verisk Property Estimating Solutio
Housing Wire
NOVEMBER 21, 2024
Home prices firmed up in today’s existing home sales report , but we caught on to this trend two months ago with our Housing Market Tracker. Traditionally, home prices soften in the second half of the year and I had counted on this for my price forecast , which predicted 2.33% home-price growth for 2024. However, that didn’t happen. The difference is mortgage rates: even with inventory growing at a healthy clip this year, mortgage rates just heading down toward 6% for a brief period of tim
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.
Eyes on Housing
NOVEMBER 20, 2024
Single-family built-for-rent construction posted year-over-year gains for the third quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 24,000 single-family built-for-rent (SFBFR) starts during.
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 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.
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.
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.
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 21, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. First impressions matter, especially when it comes to your listing’s exterior. Curb appeal sets the tone for potential buyers before they even step inside, shaping how welcoming and well-maintained a property feels.
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.
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.
Appraisal Buzz
NOVEMBER 18, 2024
As a founder / CEO, I’ve seen my fair share of market cycles. Today, I want to dive deep into the current rental market environment, share some personal insights, and most importantly, discuss how we can address these challenges head-on. A Cautionary Tale from 2013 Let me start with a personal story. In 2013, I acquired an apartment complex in Austell, Georgia.
Housing Wire
NOVEMBER 21, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. In this article, we’ve gathered 30 real estate text message scripts designed to help you connect with leads, nurture relationships, and get more deals to the closing table this coming year. When it comes to selling real estate, communication and timing can make or break your success.
Real Estate News
NOVEMBER 18, 2024
The construction industry expects the new administration to loosen regulations, which could boost sales, though other challenges remain.
Inman
NOVEMBER 19, 2024
Zillow releases a new “BuyAbility” tool it says helps consumers find homes they can actually afford to buy after accounting for more variables.
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 19, 2024
The Bipartisan Congressional Real Estate Caucus is calling on the Federal Housing Finance Agency (FHFA) to cease its pilot program for title insurance waivers until the program is vetted and the agency seeks public input on it. The caucus expressed this view in a letter written by Reps. Lou Correa (D-Calif.), Mark Alford (R-Mo.), Tracey Mann (R-Kan.) and Brittany Pettersen (D-Colo.) and sent to FHFA Director Sandra Thompson on Monday.
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.
Inman
NOVEMBER 18, 2024
In the latest filing in its quest for damages, Utah-based discount brokerage Homie asserted NAR, KW, RE/MAX and others created and enforced rules that amounted to an illegal conspiracy.
Appraisal Buzz
NOVEMBER 18, 2024
The post Turkey ESCAPE appeared first on Appraisal Buzz.
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.
Real Estate News
NOVEMBER 19, 2024
The credit-scoring company's near-monopoly has allowed it to set prices relatively unchecked, leaving mortgage lenders and borrowers at its mercy.
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