Appraisal Buzz

NOVEMBER 13, 2024

According to new research from Clever Real Estate , a St. Louis-based real estate company, homebuyers spend an average of $31,975 in homebuying expenses, such as closing costs, repairs, and moving, in addition to their down payment. The costs are broken down into the following: Repairs and renovations: $13,498 Furniture, fixtures, and appliances: $6,446 Closing costs: $4,754 Concessions to seller: $3,943 Moving costs: $2,670 Private mortgage insurance: $387 annually Home inspection: $277 The rep

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Housing Wire

NOVEMBER 15, 2024

Jerome Powell , the chair of the Federal Reserve , said on Thursday that the U.S. economy is “not sending any signals that we need to be in a hurry to lower rates.” The statement was enough to raise mortgage rates to an even higher level, a sharp departure from the optimism lenders experienced during the September rally, which now seems like a distant memory.

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Sacramento Appraisal Blog

NOVEMBER 14, 2024

What happens to the housing market after a presidential election year? Does the market really heat up like people say? What can we expect? Let’s take a look at some stats and kick around ideas. I’d love to hear your take in the comments. UPCOMING SPEAKING GIGS: 11/19/24 Downtown Regional MLS Meeting Q&A 9am 11/20/24 […] The post The housing market after a presidential election first appeared on Sacramento Appraisal Blog.

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Real Estate News

NOVEMBER 15, 2024

Broker and real estate influencer Anthony Lamacchia told agents at NAR NXT that it’s “ridiculous” what the DOJ has been “doing to our industry” in recent years.

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Appraisal Buzz

NOVEMBER 14, 2024

The Consumer Financial Protection Bureau (CFPB) has finalized the Personal Financial Data Rights Rule (PFDRR) that will give consumers greater rights, privacy, and security over their personal financial data. The rule requires financial institutions, credit card issuers, and other financial providers to unlock an individual’s personal financial data and transfer it to another provider at the consumer’s request—for free—allowing consumers to more easily switch to providers with superior rates and

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Housing Wire

NOVEMBER 15, 2024

The housing bubble crash theory has failed once again as we approach the end of 2024, but it’s always important to know why something didn’t happen. This week, we got the updated New York Fed credit data report and it shows the strong position of homeowners — especially in comparison to the years before the Great Financial Crisis. This is the kind of information you need as we get close to Thanksgiving and share the dinner table with Uncle Dave who says (for the 13th year) that we’re seein

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Real Estate News

NOVEMBER 9, 2024

Robert Reffkin said “it’s only a matter of time” before Zillow becomes a national MLS. Zillow, meanwhile, advocated for a strong MLS and equal access to data.

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Appraisal Buzz

NOVEMBER 13, 2024

The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Servicing teams must manage shifting delinquency rates, regulatory demands that may pivot with each new administration, and ever-increasing operational costs while keeping their fingers on the pulse of the modern consumer and advancing technology.

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Housing Wire

NOVEMBER 14, 2024

The Congressional Budget Office (CBO) this week published a report assessing the performance of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in reaching their single-family housing goals. The CBO found that the GSEs “met or exceeded” nearly all goals over a four-year period from 2018 to 2022. The CBO analyzed data from the Federal Housing Finance Agency (FHFA) data in its report.

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Inman

NOVEMBER 11, 2024

Reffkin continued his campaign against the Clear Cooperation Policy at the National Association of Realtor's annual NAR NXT conference during a "Future of the MLS" session Friday.

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Real Estate News

NOVEMBER 12, 2024

Inexperienced buyers have a lot of questions — about financing, buyer agreements, resources for first-timers and more — and agents need to have the answers.

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Appraisal Buzz

NOVEMBER 12, 2024

As the typical purchase price for a home remains at an all-time high , so does the cost of caring for one. According to the Q3 Home Care Price Index (wherein analysts at home-services provider Thumbtack estimate the yearly expense to maintain a single-family house), homeowners today average an annual $10,433 for their property’s upkeep. That represents a 5.9% increase compared to last year’s third quarter.

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Housing Wire

NOVEMBER 13, 2024

Rocket Companies , the parent of Rocket Mortgage , paid a reported $14 million to acquire the domain name Rocket.com. The purchase, which was initially reported by DomainInvesting.com, was said to be from defense contractor L3Harris Technologies Inc. Rumors of the deal began in early September. The transaction was referenced in a recent filing by L3Harris with the Securities and Exchange Commission ( SEC ).

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Inman

NOVEMBER 12, 2024

Contracts law professor Tanya Monestier, an objector in the NAR settlement, described Judge Stephen Bough's order compelling objectors to appear in person as a "glaring appellate issue.

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Real Estate News

NOVEMBER 14, 2024

If home price growth continues at the current pace, “America will be completely divided,” said Chief Economist Lawrence Yun. The solution? “More supply.

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Appraisal Buzz

NOVEMBER 13, 2024

According to ATTOM ‘s October 2024 U.S. Foreclosure Market Report, 30,784 properties in the U.S. had foreclosure filings, such as default notifications, scheduled auctions, or bank repossessions. This represents an 11% decrease from a year ago but a 4% increase from a month ago. “Foreclosure activity remains challenging for U.S. homeowners, with starts and completed foreclosures up in October,” said Rob Barber, CEO of ATTOM.

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Housing Wire

NOVEMBER 13, 2024

With fluctuating mortgage rates and economic pressure in the housing market, foreclosure activity ramped up in October 2024. According to real estate data provider Attom , homebuyers may face more challenges heading into 2025. Attom released its October 2024 U.S. Foreclosure Market Report on Tuesday. It showed that 30,784 properties had foreclosure filings last month.

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Inman

NOVEMBER 14, 2024

Commissions haven't changed much since the NAR settlement terms went into effect, but early signs show where things may be heading, dueling surveys by AccountTECH and Inman Intel show.

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Real Estate News

NOVEMBER 14, 2024

An analysis of more than 17,000 transactions initiated within 60 days of Aug. 17 showed only minor shifts in percentages, though transactions were down overall.

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Appraisal Buzz

NOVEMBER 12, 2024

Despite a September interest rate cut by the Federal Reserve , the average 30-year mortgage rate has been on the rise during Q4—continued high rates, combined with steadily rising housing prices , have put a strain on mortgage customers, according to the latest J.D. Power 2024 U.S. Mortgage Origination Satisfaction Study. Some lenders have managed to turn those challenges into an opportunity to play a more direct advisory role with customers, earning praise from customers along the mortgage proc

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Housing Wire

NOVEMBER 11, 2024

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. In its third-quarter earnings report, Zillow Home Loans revealed an impressive data point: mortgage revenue increased 63% year over year in the third quarter to $39 million, which is primarily due to an 80% year-over-year increase in purchase loan origination volume to $812 million.

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Inman

NOVEMBER 14, 2024

A judge has denied the brokerage's request for a stay in the Gibson case, saying a tactic the company is accused of using to settle a different suit involves a "collusive element.

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Real Estate News

NOVEMBER 13, 2024

A law professor says the court doesn’t have the authority to force objectors to attend in person, while in Pennsylvania, Howard Hanna’s dismissal is appealed.

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Appraisal Buzz

NOVEMBER 13, 2024

Less than one-third (32.1%) of renter households pay under $1,000 in monthly rent—the lowest share on record, according to a new report from Redfin. That total is down nearly 10% from 2022’s reported share of 35.2%, and nearly 20% since 2012 (50.4%). Most (47.9%) renter households pay between $1,000 and $1,999 per month, while nearly 15% (14.4%) pay $2,000-$2,999, and 5.7% pay $3,000 or more.

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Housing Wire

NOVEMBER 14, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. While new social media platforms seem to pop up all the time, Facebook remains a tried-and-true platform for real estate agents to grow their business in a variety of ways. Joining and engaging with groups of fellow Realtors on Facebook should be a key tool in every agent’s toolbox.

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Eyes on Housing

NOVEMBER 13, 2024

Inflation picked up again in October, showing the last mile to the 2% target will be the hardest. Shelter costs remained the main driver of inflation, accounting for over 65% of the 12-month increase in the all items less food and energy index. However, the year-over-year change in the shelter index has been below 5%.

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Real Estate News

NOVEMBER 11, 2024

CEO Nykia Wright said she is also engaging a chief human resources officer, as well as a special advisor to help re-establish broker relationships.

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Appraisal Buzz

NOVEMBER 15, 2024

According to a recent poll conducted by TD Bank , America’s Most Convenient Bank, two-thirds (66%) of homeowners still consider their homes to be a source of wealth for future generations, indicating that homeowners continue to perceive their houses as strong financial assets in the present market climate. More than 1,800 homeowners who bought a home during the last ten years with a mortgage loan and are currently homeowners participated in TD Bank’s HELOC Trend Watch nationwide poll.

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Housing Wire

NOVEMBER 15, 2024

MLSs are using AI technology to catch agents who attempt to circumvent the commission lawsuit settlement terms. Before the commission lawsuit settlements, “three” used to be the magic number for agents posting on multiple listings services (MLSs). But now it’s a dirty word. New business rules imposed by the proposed National Association of Realtors (NAR) antitrust settlement ban blanket offers of compensation to buyer agents on MLSs, which are sometimes 3% (but often lower).

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Eyes on Housing

NOVEMBER 12, 2024

Total outstanding U.S. consumer debt stood at $5.10 trillion for the third quarter of 2024, increasing at an annualized rate of 3.28% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. In general, consumer debt has been slowing over the past two years, peaking at a high rate of 9.16% in the second.

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Real Estate News

NOVEMBER 14, 2024

President Susan Daimler is departing after 12 years at the company, while SVP Jun Choo moves into the C-suite.

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Appraisal Buzz

NOVEMBER 15, 2024

The next installment of the Five Star Institute Webinar Series will take place Monday, November 18 at 1:00 p.m. Central, when the Five Star Institute , in partnership with Global Strategic , present “ Partnering for Performance: Mortgage Operations Outsourcing.” The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry.

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Housing Wire

NOVEMBER 11, 2024

The national housing shortage, the benefits of increased density, an ongoing shift in consumer tastes toward smaller homes closer to where the urban action is, and other factors have pushed state legislators to make it easier to build accessory dwelling units. In 2024 alone, Colorado, Arizona, Massachusetts, and Hawaii passed major ADU legislation, and California added several laws to open the doors wider for ADU s.

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Inman

NOVEMBER 15, 2024

Realtor.com selected Rental Beast to power an online rental application, lease processing and applicant experience initiative, making a strong statement about the impact of renters on the current market.

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