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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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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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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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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Appraisal Buzz

NOVEMBER 11, 2024

More than three out of four (74.5%) home sales with Veterans Affairs (VA) loans over the past year had a 0% down payment, and nearly eight out of ten (83.5% of) VA home loan sales had a down payment below 10%, according to new information released by Realtor.com celebrating the recent holiday of Veterans Day. According to recent Realtor.com research , VA borrowers are more than twice as likely as conforming borrowers to have made a small down payment, which lowers the upfront costs of homeowners

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Housing Wire

NOVEMBER 15, 2024

Homebuyers who are part of Generation X — primarily born between the mid 1960s and the early 1980s — should keep accessibility features in mind as they approach retirement, since Americans are increasingly looking to age in place in their own homes once their time in the workforce is complete. This is according to a recent article at the Boston Globe that took a closer look at the kinds of homes that those currently in their mid-to-late 50s may want to prioritize as they look to the future.

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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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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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Appraisal Buzz

NOVEMBER 12, 2024

According to the National Association of Realtors ‘ (NAR) most recent quarterly report, home prices increased in about 90% of metro markets (196 out of 226, or 87%) during Q3 of 2024, while the 30-year fixed mortgage rate varied between 6.08% and 6.95%. Compared to 13% in Q2, just 7% of the 226 metro regions under study saw double-digit price increases within the same time frame.

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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 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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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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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 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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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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Inman

NOVEMBER 11, 2024

Potential real estate clients are growing less responsive to mortgage-rate dips, one of several key takeaways from the results of the latest Inman-Dig Insights consumer survey.

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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 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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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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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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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 13, 2024

The U.S. finds itself in a “troubling environment” for bolstering Black homeownership as evidenced by two key — and lagging — metrics. This is according to the 2024 State of Housing in Black America (SHIBA) report published this month by the National Association of Real Estate Brokers (NAREB). “The two best-performing demographics for African Americans — Black female-headed households and millennials — both declined in home sales in 2023,” the organization explained in an announcement of the rep

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Real Estate News

NOVEMBER 9, 2024

Yun expects existing sales to rise 9% next year and even more in 2026, though the market has proved difficult to predict in recent years.

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Marketing 299

Inman

NOVEMBER 15, 2024

It’s not about avoiding challenges, Ojo's Chris Heller writes. It’s about embracing them as opportunities to grow, improve and lead.

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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 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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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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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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Appraisal Buzz

NOVEMBER 13, 2024

The housing trends that will shape our homes in the coming year have been revealed by Zillow based on new statistics. In 2025, home purchasers and homeowners will design cozy, environmentally friendly, and climate-resilient homes by fusing the newest technology with vintage, rustic beauty. This implies that 19th-century sculleries, antique fittings, and comfortable home libraries will coexist with amenities like EV chargers and whole-house batteries.

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Housing Wire

NOVEMBER 14, 2024

With the election behind us, the industry is refocused on building momentum and driving growth in 2025. Next year, real estate brokers and team leaders can adapt, innovate and truly thrive in the new market. With these unique strategies, brokers can achieve sustainable success while staying ahead in a competitive market. Here’s four strategies for leaders looking to maximize growth and position their brokerages and teams for success. 1.

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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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