Housing Wire
APRIL 30, 2024
Home prices were near an all-time high in February. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6.4% annual gain in February, up from a 6% gain in January, according to the newest report released Tuesday. It was the largest annualized increase recorded since November 2022. On an annual basis, the 10-city composite index grew by 8%, up from 7.4% the previous month.
Appraisal Buzz
MAY 1, 2024
In this week’s episode, host Hal Humphreys talks with Kevin Hecht, Appraisal Training and Development Manager and Real Estate Economist for McKissock. It seems like the market is starting to pick up for the spring across the nation, but we haven’t seen any significant interest rate changes. What can appraisers expect from the market in the near future?
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Real Estate News
APRIL 30, 2024
The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.
George Dell
MAY 1, 2024
Will there be a need for traditional “appraisal” in 5 years? We think not. Some 25 years ago, I was education chair for my Appraisal Institute Chapter. Our ‘custom’ seminar considered the topic of technology replacing appraisers. The conclusion was, especially for residential appraisal, that AVMs would take a great market share. Worse yet, because […] The post No Need for Appraisers?
Housing Wire
APRIL 30, 2024
As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements. Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent.
Appraisal Buzz
MAY 1, 2024
In the ever-evolving landscape of mortgage finance, the year 2024 presents both challenges and opportunities that demand astute navigation. Following a period of rising interest rates in 2023, the Federal Reserve’s recent signals hint at a potential shift towards a more accommodative monetary policy later in 2024. This could translate to lower interest rates, impacting borrower affordability and overall loan demand.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
MAY 1, 2024
The class of 45 honorees represents the real estate industry's brightest achievers under the age of 40. Future Leaders is the latest addition to Inman’s growing industry-leading awards program.
Housing Wire
APRIL 27, 2024
Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Last year, we never hit that target. We have now seen it for two weeks as inventory grew by 13,247. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023
Appraisal Buzz
APRIL 30, 2024
U.S. home prices continued their upward march in February, rising 0.4% compared with January and up 6.4% compared with February 2023, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 20-city and the 10-city composites both reported month-over-month increases of 0.6%. Year-over-year, the 10-city composite showed an increase of 8.0%, while the 20-city composite posted an increase of 7.3%.
Real Estate News
APRIL 27, 2024
Andy Florance and Damian Eales took to the stage separately during the T3 Leadership Summit to address contentious traffic claims and highlight growth goals.
Inman
MAY 1, 2024
The Atlanta-based Village Premier Collection, led by Cheri Benjamin, has joined Real under its Private Label program. The company has roughly 500 agents and closed $665 million in sales in 2023.
Housing Wire
APRIL 29, 2024
Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning. He cited a difficult market and elevated rates as reasons for shutting down correspondent and consumer lending businesses , which were added in 2022.
Appraisal Buzz
APRIL 30, 2024
Mortgage lenders lost an average of $1,056 on each loan they originated in 2023, compared to an average loss of $301 per loan in 2022, according to the Mortgage Bankers Association’s (MBA) Annual Performance Report. Average annual production volume was $1.9 billion (6,021 loans) per company, down from $2.6 billion (8,371 loans) per company in 2022. On a repeater company basis, average production volume was $2 billion (6,436 loans), down from $2.7 billion (8,605 loans) from 2022.
Real Estate News
MAY 1, 2024
The filing comes just days after the company settled similar cases brought by sellers. The firm maintains its practices were “lawful and procompetitive.
Inman
MAY 1, 2024
In an email, the 1.5 million member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements' terms.
Housing Wire
APRIL 30, 2024
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders Leaders award are open now through April 30th, 2024. Click here to nominate someone. In the midst of a higher-for-longer mortgage rate environment that is reshaping the landscape of the mortgage industry, the role of a chief marketing officer (CMO) becomes increasingly pivotal as mortgage compa
Appraisal Buzz
APRIL 29, 2024
A recent flood of homes for sale in certain communities in Florida and Texas has resulted in something considered unusual during the past four years: Price cuts. According to a report from Redfin , the communities of Cape Coral, Fla. and North Port, Fla., saw inventory jump about 50% in the past year – while McAllen, Texas, saw its supply jump 25%. As a result of this surge in inventory, 48% of listings in the North Port-Sarasota market had a price cut—the highest share in the country.
Real Estate News
APRIL 30, 2024
Ben Caballero isn’t slowing down. After landing in the Guinness book three times in his 62-year real estate career, he has achieved a new record.
Inman
APRIL 29, 2024
As the commission landscape changes, Side's Hilary Saunders writes, it's time for agents, teams and brokerages to look at the ways this will improve the industry's reputation.
Housing Wire
MAY 1, 2024
When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky.
Appraisal Buzz
APRIL 29, 2024
Mortgage tax escrow payments for local property owners and government processors continue to serve as a crucial source of revenue for local governments. Among these payments, timely settlement of local property taxes holds particular significance. However, mortgage lenders are also a critical component here, and failure to adopt a reliable payment processing system for escrow can have a detrimental effect on mortgage servicer accounting and operations.
Real Estate News
APRIL 29, 2024
The brokerage becomes the ninth real estate entity to strike a deal with home sellers, with an initial damages payment of nearly $8 million.
Inman
APRIL 29, 2024
These increasingly uncertain attitudes among agents in March were a departure from brokers, who were more likely to tell Intel that they still view the National Association of Realtors positively.
Housing Wire
APRIL 30, 2024
The Federal Housing Finance Agency (FHFA) this week released its fair lending final rule, following up on a proposal made last year in alignment with plans first laid out in 2022 by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule “addresses barriers to sustainable housing opportunities for underserved communities by codifying existing FHFA practices in regulation and adding new requirements related to fair lending, fair housing, unfair or deceptive acts or practi
Appraisal Buzz
APRIL 29, 2024
This article is featured in the 2023 edition of the Appraisal Buzz Magazine. Some other features we have in our magazine include Buzztoon comics, as well as crazy stories from appraisers and readers like you! Read all these articles and more in the latest edition HERE. If you want to make sure you are receiving the print version of the Appraisal Buzz magazine in your mailbox, sign up HERE.
Real Estate News
APRIL 30, 2024
Firms that settled in the Gibson/Umpa case in March and April will have until later this year to finalize the agreements, but more than 20 defendants remain.
Inman
APRIL 30, 2024
Expressing your value to clients begins with knowing yourself, writes mega-team leader Carl Medford. You cannot articulate what you have never taken the time to determine on your own.
Housing Wire
APRIL 29, 2024
Douglas Elliman has joined the growing list of brokerages that have settled the commission lawsuits. In an 8K filed with the Securities and Exchange Commission (SEC) on Friday, the firm announced that it had reached a nationwide settlement agreement with the Gibson lawsuit plaintiffs. According to the filing and an accompanying press release, the settlement covers Douglas Elliman and all of its subsidiaries.
Appraisal Buzz
APRIL 30, 2024
In today’s mortgage landscape, mortgage loan originators (MLOs) must find their way to success through an increasingly complex and difficult market. With the downturn in home sales, the challenges are multifaceted: Homeowners are holding onto low-interest rate mortgages instead of moving up, investors edging out traditional buyers with cash offers and first-time homebuyers facing steep affordability hurdles and bidding wars.
Real Estate News
MAY 1, 2024
The company reported better-than-expected revenue of $529 million in Q1 — a 13% improvement from a year ago — and hinted at further monetizing its audience.
Inman
APRIL 30, 2024
Seller predictive analytics company Realeflow has announced its latest product, Leadflow AI Agent, a lead-generation solution to help residential agents be the first to know when someone wants to list a home.
Housing Wire
APRIL 29, 2024
California-based mortgage tech firm Blend Labs , which has pursued non-GAAP profitability since it went public in 2021 , announced a $150 million investment on Monday from private equity firm Haveli Investments. Blend will use $145 million of the proceeds to repay existing credit agreements. The remainder is for general corporate purposes, the company said in a prepared statement.
Appraisal Buzz
APRIL 30, 2024
The post Too Much Time appeared first on Appraisal Buzz.
Real Estate News
APRIL 27, 2024
E&V opens in Philly; BHGRE adds N. Dakota indie, secures renewal from top firm; @properties grows in Texas; Christie's enters Albania; EXIT adds 7 markets.
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