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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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 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.
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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 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 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.
Eyes on Housing
NOVEMBER 20, 2024
Reflecting the sharp increase in net immigration of recent years, the number of new immigrants joining the construction industry rose substantially in 2022. According to the latest American Community Survey (ACS), the industry managed to attract close to 130,000 new workers coming from outside the U.S. to help with persistent labor shortages. For comparison, this.
Real Estate News
NOVEMBER 18, 2024
The construction industry expects the new administration to loosen regulations, which could boost sales, though other challenges remain.
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
The passage of the mortgage trigger lead bill as proposed in the U.S. Congress will face a challenge from a new plan expected to be released this week by representatives of the consumer reporting industry, HousingWire has learned. In September, Senate Armed Services Committee Chairman Jack Reed (D-R.I.) included U.S. Senate Amendment 2358 — known as the Homebuyers Privacy Protection Act of 2024 — in the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA).
Inman
NOVEMBER 19, 2024
As real estate continues to evolve in a post-Sitzer | Burnett era, contract documents are likely to be refined and modified to reflect current trends, broker Cara Ameer writes.
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 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 20, 2024
Momentum Builder has acquired Sales Mastery , the companies announced Wednesday. The merger of two industry leaders in sales training and coaching will result in a “unified super brand” that will be known as Sales Mastery Powered by Momentum Builder, the companies said in a press release. “The launch of Sales Mastery Powered by Momentum Builder marks a transformative moment in the housing industry, signaling a seismic shift in how sales professionals will approach success,” said Todd Dunca
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.
Real Estate News
NOVEMBER 16, 2024
As a smaller brokerage or team, you may not have the backing of major brand or franchise, but you have some unique advantages. See how to make the most of them.
Appraisal Buzz
NOVEMBER 18, 2024
Nearly three-quarters of Americans (74%) with annual incomes under $50,000 occasionally, frequently, or significantly struggle to make their regular rent or mortgage payments according to a new report from Redfin. Almost a quarter (24%) of those individuals say they have skipped meals in order to pay their monthly housing expenses. Among those in that wage range, dining out less frequently (43%), having no or few vacations (36%), and borrowing money from friends or family (25%), it is one of the
Housing Wire
NOVEMBER 20, 2024
In today’s economy, mortgage rates and housing expenses have consistently risen. As a result, older citizens are tapping into their retirement savings to cover costs—if they have it. However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market.
Inman
NOVEMBER 19, 2024
This is a moment of transformation in our industry, and you have a choice: adapt or fall behind, coach Darryl Davis writes. Don’t wait for the market to dictate your future. Take control.
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
Cornerstone Home Lending President–National Retail Division Jay Crowell Cornerstone Home Lending , a division of Cornerstone Capital Bank , has announced the promotion of Jay Crowell to the newly created role of President–National Retail Division. Crowell will drive the strategy and continued growth of Cornerstone’s national retail and Realtor affiliate sales and operations.
Housing Wire
NOVEMBER 20, 2024
The current mortgage market starkly contrasts with the booming years of 2020 and 2021. Both borrowers and loan officers face a changed—and changing—landscape. However, success remains within reach for those committed to adapting. The winners in every market know how to take advantage of opportunities, and below I’ve outlined some actionable advice on how to approach this market with that winning mindset.
Inman
NOVEMBER 19, 2024
It's gratitude season, Darryl Davis writes, so let's show how much our colleagues, clients, vendors and friends mean with these affordable and original gift ideas.
Real Estate News
NOVEMBER 16, 2024
NJ firm partners with KW; United gains ground in NOLA with second merger; Corcoran enters Mexico; C21 expands globally; Bay Area team chooses Side.
Appraisal Buzz
NOVEMBER 19, 2024
According to data produced by Verisk Weather Solutions , the impact of severe hail in the U.S.–storms which delivered hail of at least one inch in size–increased by 20% in 2023, compared to 2022. The number of insurance claims resulting from hail events increased by more than 40% from 2022. “2023 was a historic year when it came to hail losses but notably was not driven by more hail days or even more areas being impacted by hail,” said Tory Farney, VP Verisk Weather Solutions.
Housing Wire
NOVEMBER 19, 2024
John Rogers is a well-known name in the world of mortgage and real estate data analysis. The globe-trotting CoreLogic executive recently earned a larger role at the California-based company and is now serving as its chief data and analytics officer. Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development.
Inman
NOVEMBER 18, 2024
It’s time for real estate professionals to get serious about their 2025 business outlook, assessing which measures to build upon and which ones to leave behind.
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.
Appraisal Buzz
NOVEMBER 19, 2024
Zillow Group COO Jun Choo Zillow Group has promoted tenured executive Jun Choo to the role of Chief Operating Officer (COO) where he will oversee Zillow’s for sale business strategy and operations including Enhanced Markets and Mortgages, in addition to the company’s real estate industry product lines, sales, and operations. Choo joined Zillow Group in 2015 through the company’s acquisition of Trulia, and has more than two decades of leadership and go-to-market experience in the real estate te
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.
Inman
NOVEMBER 18, 2024
Volunteer National Association of Realtors' leaders received perks and payment that lawyers say could run afoul of US tax laws, according to an investigation by the Times published on Monday.
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