Housing Wire

MAY 6, 2024

Legendary investor Warren Buffett and Greg Abel, the CEO of Berkshire Hathaway Energy , addressed the commission lawsuits and HomeServices of America’s recently announced settlement of the suits, during Berkshire Hathaway’s annual shareholder meeting on Saturday. “There is no question that the industry will go through some transitions because of the settlements — ours and every other major player in the industry settled, the National Association of Realtors settled for more than $400 million ,”

Real Estate Agent 485

Real Estate Agent Real Estate Agents Realtors 485

Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In some markets, the answer is increasingly yes. In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks.

HOA 370

HOA Insurance Legal Fees Valuation 370

Sacramento Appraisal Blog

MAY 2, 2024

Consumers are feeling economic pain, and we need to talk about some of the things that are brewing. Today, I want to look at growing debt, distressed sales, and unemployment. I have both national and local stats. Sounds like a happy post, right? Look, some people really hype this topic and use it to magnify […] The post Some red flags for the housing market first appeared on Sacramento Appraisal Blog.

Housing Market 337

Housing Market Marketing Appraisal 337

Real Estate News

MAY 4, 2024

Andy Florance discusses the “transformative technology” and his plans to rapidly expand the company while rolling out generative AI features later this year.

Technology 311

Technology 311

Inman

MAY 6, 2024

While we like to create goals and supportive strategies several months before the end of the year, coaches Emily Bossert and Melanie Klein write, there’s no time like the present to create and benefit from a comprehensive business plan.

Business 179

Business Agents 179

Housing Wire

MAY 4, 2024

My model for inventory growth with higher mortgage rates came crashing down last week. After two weeks of significant increases , inventory growth slowed dramatically and is far from my 11,000-17,000 growth model with mortgage rates over 7.25%. Did the recent dip in mortgage rates play a role here or is this the average choppy weekly data we have seen in past years?

Inventory 485

Inventory Mortgage New Listings Marketing 485

Eyes on Housing

MAY 6, 2024

NAHB’s latest study on consumer preferences—What Home Buyers Really Want Study*— asked about the features and amenities buyers want in the home, but also about the type of community where they would like to live. The question is important because the home that successfully appeals to buyers doesn’t exist in a vacuum—it sits inside a.

Buyers 148

Buyers 148

Real Estate News

MAY 6, 2024

Mortgage assumptions aren’t new, but they’re about to get a lot more popular because the math works for both sides of the closing table.

Mortgage 256

Mortgage Agents 256

Inman

MAY 6, 2024

Powered by the latest polling results from the Inman Intel Index, this wide-ranging guide explores how brokerages are steeling themselves for a new type of client: the buyer's-fee-evading seller.

Sellers 174

Sellers Brokerage Agents Buyers 174

Housing Wire

MAY 6, 2024

Rocket Companies , the parent of Rocket Mortgage , announced on Monday that it has hired Shawn Malhotra, a former Thomson Reuters and Intel executive, as the first chief technology officer (CTO) in the company’s history. Malhotra will oversee, among other areas, the firm’s artificial intelligence (AI) development, data science, product engineering, technology operations and information security.

Development 431

Development Technology Tools Mortgage 431

Appraisal Buzz

MAY 6, 2024

The progress that was made in providing mortgages to to a higher percentage of low-income homebuyers during the pandemic years has been reversed in the past two years due to higher mortgage rates and rising home prices, a report from Redfin shows. “There was a sweet spot in 2020 when mortgage rates were ultra low and home prices had yet to skyrocket, allowing some lower-income Americans to break into the housing market,” says Elijah de la Campa, senior economist for Redfin, in the report.

Buyers 221

Buyers Real Estate Mortgage Housing Market 221

Eyes on Housing

MAY 1, 2024

The Federal Reserve’s monetary policy committee held constant the federal funds rate constant at a top target of 5.5% at the conclusion of its April-May meeting. In its statement, the Federal Open Market Committee (FOMC) noted: Recent indicators suggest that economic activity has continued to expand at a solid pace.

Marketing 145

Marketing 145

Real Estate News

MAY 3, 2024

The organization has revised its MLS handbook and beefed up its FAQ to help explain what’s changing, while giving NAR members until Aug. 17 to comply.

Agents 263

Agents 263

Inman

MAY 6, 2024

Sidekick was developed by San Francisco-based boutique brokerage Avenue 8. It primarily uses a text interface to send commands to retrieve data, execute tasks and in many ways, function as a common, “visual” interface would. It's now offered to members of SFAR.

Brokerage 171

Brokerage Development Realtors Technology 171

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. The financials of the deal were not disclosed. According to the Nationwide Multistate Licensing System (NMLS), SHM provides home mortgage solutions in six states through a network of four branches and 62 licensed loan officers.

Mortgage 418

Mortgage Retail Loan Officers Construction 418

Appraisal Buzz

MAY 7, 2024

Strong home price growth – propelled by lack of inventory – pushed U.S. mortgage holders’ tappable equity to a record $11 trillion in March, according to ICE Mortgage Technology’s Mortgage Monitor report. Though the inventory situation has improved slightly, a continuing deficit of homes for sale this spring is helping prices remain resilient, ICE says.

Inventory 195

Inventory Lending Mortgage Appraisal 195

Riverfront Appraisals

MAY 4, 2024

It’s reassessment season for most folks in our area. Homeowners all across Southwestern Indiana and Western Kentucky where we appraise have recently been the unfortunate recipients of a reassessment letter from the local PVA or Tax Assessor. While taxes are part of living in this great Nation (remember what Ben Franklin said?), that doesn’t mean […] The post Property Taxes Just Went Up?

Property Taxes 113

Property Taxes Appraisal Appraisal Process Real Estate 113

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.

Law 260

Law Sellers 260

Inman

MAY 3, 2024

The massive trade organization promised in March to make various policy changes as part of a landmark settlement. The rules will now roll out slightly later than expected.

Realtors 193

Realtors Brokerage Agents 193

Housing Wire

MAY 3, 2024

The U.S. economy added 175,000 jobs in April, less than in March and below what economists had expected. April’s rate also fell below the average monthly gain of 242,000 over the prior 12 months. Meanwhile, the change in total nonfarm payroll employment for March was revised up by 12,000, from 303,000 to 315,000, according to data released by the B ureau of Labor Statistics on Friday.

Transportation 466

Transportation Housing Market Inventory Marketing 466

Appraisal Buzz

MAY 7, 2024

Mortgage credit availability was basically flat in April, rising just 0.1% compared with March to reach a score of 94.0 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which was benchmarked to 100 in March 2012. Mortgage credit availability for conventional loans increased 0.3%, while credit availability for government loans was flat.

Mortgage 195

Mortgage Government Appraisal 195

Appraiserblogs

MAY 2, 2024

At a recent appraisal event, a GSE executive, after a few drinks, privately told his nearby colleagues that we suck as an industry. Last year, Phil Crawford and I reported on GSE efforts to send unsigned complaints to state boards at scale. Appraisers had no recourse but to defend themselves from the state boards without knowing who their accusers were.

Appraisal 114

Appraisal 114

Real Estate News

MAY 1, 2024

During an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.

Agents 256

Agents 256

Inman

MAY 6, 2024

As an agent for more than 15 years, owner of The Young Team and CEO of Fello, Ryan Young feels deeply passionate about helping agents scale their business through listings.

Agents 168

Agents Business 168

Housing Wire

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. In a document filed with the Securities and Exchange Commission (SEC) on Monday, the brokerage announced that it had reached a nationwide settlement agreement on Friday with the plaintiffs in the consolidated Gibson and Umpa commission lawsuits. As part of the settlement agreement, Redfin has agreed to pay $9.25 million into a qualified settlement fund within 30 days of the court’s preliminary

Brokerage 413

Brokerage Realty Real Estate Agents 413

Appraisal Buzz

MAY 6, 2024

Adam Johnston has joined Candescent Capital Ventures , a private equity firm specializing in investments in the PropTech space, as senior vice president, chief program management and valuation officer. Johnston is an experienced industry veteran. Over the past 20 years, he has served in key leadership roles in mortgage banking, private mortgage insurance, and appraisal management.

Valuation 195

Valuation Project Management Design Insurance 195

Appraiserblogs

MAY 3, 2024

The implication that if the VALUE is too low, then there must be “material deficiencies” present, is deeply troubling! Up until recently, there has never been a standardized policy for mortgage loan related Reconsideration of Value (ROV) requests after an appraisal has been submitted. Now there is, per the attached PDF HUD/FHA mortgage letter. The GSE’s have similar policies.

Reconsideration of Value 107

Reconsideration of Value Appraisal Mortgage Development 107

Real Estate News

MAY 6, 2024

The Berkshire Hathaway CEO, along with Vice Chair Greg Abel, spoke about the HomeServices settlement and more during the company's annual shareholder meeting.

Real Estate 183

Real Estate 183

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.

Real Estate 193

Real Estate 193

Housing Wire

MAY 3, 2024

The business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement ,will go into effect on Aug. 17, 2024, according to a letter sent to members on Friday by NAR chief legal officer Katie Johnson. Originally, the trade group had said the practice changes would go into effect in mid-July.

Sellers 458

Sellers Legal Buyers Realtors 458

Appraisal Buzz

MAY 6, 2024

Capital Community Bank (CCBank), a community bank in Utah, has acquired Security Home Mortgage (SHM), a provider of home mortgage solutions in Utah since 1999. Terms of the deal were not divulged. The deal marks a significant milestone in CCBank’s growth strategy, expanding its portfolio of financial services and reaffirming its commitment to fostering the financial well-being of the communities it serves.

Mortgage 195

Mortgage Clients Business Appraisal 195

Eyes on Housing

MAY 6, 2024

In March, residential building workers’ wages continued to grow but at a relatively slower pace. After an acceleration of a 6.2% increase in the previous month, the year-over-year (YOY) growth rate for residential building worker wages slowed to 5.1% in March. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for.

Construction 88

Construction 88

Real Estate News

MAY 4, 2024

New CEO at Remine; CubiCasa adds products; Supra unveils new platform; NNRMLS teams with Lone Wolf; Listing Showcase expands; news from Cloze, Lundy, Vestaplus.

211

211

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.

Brokerage 193

Brokerage Agents 193