Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.

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Appraisal Buzz

APRIL 23, 2024

New home sales in March were at a seasonally adjusted annual rate of 693,000, an increase of 8.8% compared with February and up 8.3% compared with March 2023, according to estimate from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. The median sales price of a new home sold in March was $430,700. The average sales price was $524,800.

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Sacramento Appraisal Blog

APRIL 24, 2024

Insurance has been a glaring mess in California, and it’s really starting to affect the housing market. Today, I want to share some things I’m hearing from the real estate community after asking for feedback on my social channels about home and fire insurance. The goal is to give some perspective and advice to sellers […] The post The insurance crisis is affecting the housing market first appeared on Sacramento Appraisal Blog.

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Real Estate News

APRIL 24, 2024

At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.

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Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story. The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages

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Appraisal Buzz

APRIL 24, 2024

Today, host Hal Humphreys chats with Jason Ferris, MAI, SRA and owner of Bell Ferris, Inc. Ferris discusses his background in the industry and his experience with Short Term Rentals. It seems like bringing up Short Term Rental valuation is the quickest way to start a fight on social media. Why is there such wild variance of opinions on how to handle these?

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Real Estate News

APRIL 25, 2024

In a conversation with Real Estate News, Dr. Courtney Johnson Rose of NAREB discussed the pros and cons of the recent settlement and upcoming rule changes.

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Housing Wire

APRIL 26, 2024

Who doesn’t have a podcast these days? Anyone with a microphone and a cup of coffee can wax poetic about the ebbs and flows of the industry. While there is plenty of noise out there, we dug for podcast gold to come up with a list of the best real estate podcasts that are worth your time. We curated a shortlist of the top real estate podcasts that provide useful information for agents at every stage of their careers.

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Appraisal Buzz

APRIL 22, 2024

Let’s get real for a moment. When that email from an AMC hits your inbox, asking for your best fee and quickest turnaround, do you feel that twinge of annoyance? You’re not alone. A lot of folks in our field are downright peeved (and quite vocal) about the whole bidding process. They see it as a race to the bottom, a game where the only winning move is not to play.

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Inman

APRIL 26, 2024

HomeServices was potentially on the hook for the remaining $4.7 billion in damages from an Oct. 31 jury verdict in Sitzer | Burnett, which awarded plaintiffs $5.3 billion.

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Real Estate News

APRIL 23, 2024

A hearing for final approval is scheduled for Nov. 26. The court filing also included information about who is covered in the nationwide class action.

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Housing Wire

APRIL 23, 2024

The National Association of Realtors (NAR) can breathe a small sigh of relief. The trade group’s nationwide settlement of the commission lawsuits has passed its first hurdle as Judge Stephen R. Bough, who oversaw the Sitzer/Burnett lawsuit , granted preliminary approval to NAR’s settlement on Tuesday. While the agreement still must receive final approval from the court, the industry is now one step closer to operating under the new rules outlined in the settlement agreement.

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Appraisal Buzz

APRIL 24, 2024

Mortgage application volume decreased 2.7% during the week ended April 19, as the average rate for a 30-year fixed-rate mortgage increased to 7.24%, up from 7.13% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 3% compared with the same week one year ago.

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Inman

APRIL 22, 2024

As the real estate industry continues to evolve, embracing the transformative potential of AI and blockchain technology to gain a competitive edge.

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Real Estate News

APRIL 24, 2024

The brokerages are the first to settle following preliminary approval of the NAR agreement by a Missouri judge earlier this week.

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Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. This is something I talked about last week on Yahoo Finance.

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Appraisal Buzz

APRIL 26, 2024

Homebuyer affordability worsened in March, as the average mortgage payment applied for by purchase borrowers increased to $2,201, an increase of $17 compared with February and up $108 compared with March 2023, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).

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Inman

APRIL 23, 2024

Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were "fair, reasonable and adequate" and set a final approval hearing for November.

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Real Estate News

APRIL 23, 2024

It’s not too late to get on board, but “you have less than a year to figure it out,” AI expert Allie K. Miller told execs at the T3 Leadership Summit.

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Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health.

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Appraisal Buzz

APRIL 25, 2024

The average rate for a 30-year fixed-rate mortgage increased to 7.17% as of April 25, up from 7.10% last week and up from 6.43% the same week one year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates continued rising this week,” says Sam Khater, chief economist for Freddie Mac, in a statement. “Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady.

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Inman

APRIL 24, 2024

Buyers and sellers are confused about the new rules of the road. Trainer Bernice Ross and Jeff Lobb discuss how agents can change up the conversation and add clarity and confidence.

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Real Estate News

APRIL 23, 2024

Real estate has gone through massive changes over the past 50 years, says industry icon Stefan Swanepoel, but it’s time to focus on the future.

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Housing Wire

APRIL 24, 2024

The rental segment has been marked by strong demand and looks to continue on this trajectory given mortgage rates that continue to hover around 7% and record property prices across many U.S. regions. In spite of some slowdown, rents have continued to appreciate, being nearly 30% higher than prior to the pandemic, with February levels up 3.5% as compared to the previous year.

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Appraisal Buzz

APRIL 25, 2024

Pending home sales increased 3.4% in March compared with February and were up 0.1% compared with March 2023, according to the National Association of Realtors (NAR). Regionally, the Northeast, South and West posted monthly gains in transactions while the Midwest recorded a loss. Lawrence Yun, chief economist for NAR, says pending home sales in March marked “the best performance in a year, but it still remains in a fairly narrow range over the last 12 months without a measurable breakout.

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Inman

APRIL 22, 2024

Sitzer | Burnett plaintiffs on Friday asked the court to preliminarily approve the proposed deal. Brokerages and MLSs that were left out initially will have to take action by June 18 to be covered.

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Real Estate News

APRIL 24, 2024

Awards recognize residential real estate brokerage sites for excellence in website design, functionality and performance.

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Housing Wire

APRIL 23, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Is your license renewal on the horizon? Every 12 years, a cosmic thing happens, and agents in all 50 states come due for their real estate continuing education (CE) and licensing renewal. 2024 is that year!

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Appraisal Buzz

APRIL 24, 2024

Truv , a provider of income, employment and asset verification solutions, is now integrated with BeSmartee , a provider of point-of-sale (POS) software for mortgage lenders. The integration will automate manual verification processes and transform the mortgage experience for lenders and borrowers with easier mortgage approvals, heightened data transparency and faster closings.

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Inman

APRIL 22, 2024

Matterport's board of directors unanimously approved the deal, which will be finalized later this year. CoStar purchased its outstanding stock for $5.50 per share, reflecting a value of $1.6 billion.

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Real Estate News

APRIL 26, 2024

The last defendant standing in the Sitzer/Burnett case reaches a whopping settlement that will protect its 70,000 agents plus brands and franchises.

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Housing Wire

APRIL 24, 2024

Realty ONE Group International has joined six other real estate brokerages in settling the commission lawsuits. The firm announced on Wednesday that it has entered into a nationwide settlement agreement with the commission lawsuit plaintiffs. The settlement, which is still subject to court approval, will settle all claims against Realty ONE Group, its franchises and affiliated agents.

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Appraisal Buzz

APRIL 23, 2024

Mortgage delinquencies were at a rate of 3.2% as of the end of March, a decrease of 4.15% compared with February but up 9.4% compared with March 2023, according to ICE Mortgage Technology’s First Look report. As of the end of the month there were about 1.7 million residential properties 30 days or more past due but not in foreclosure, according to the report.

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Inman

APRIL 22, 2024

The Utah-based disruptor "moved our real estate agents from W2 to 1099" while other "non-Homie" agents were laid off last week due to "role redundancy," a Homie spokesperson confirmed to Inman.

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