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 479

Real Estate Agent Real Estate Agents Realtors 479

Appraisal Buzz

MAY 9, 2024

The average rate for a 30-year fixed-rate mortgage fell to 7.09% this week, down from 7.22% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. It was the first time in five weeks that mortgage rates decreased. “After a five-week climb, mortgage rates ticked down following a weaker than expected jobs report,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 365

Mortgage Sellers Buyers Appraisal 365

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 303

Technology 303

Eyes on Housing

MAY 13, 2024

As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional 106,031 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how.

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190

Inman

MAY 13, 2024

Ready to transform the way you communicate your value to clients? Marketing expert Marci James helps you reshape the agent-client relationship by prioritizing clear communication and exceptional results.

Client Relationships 184

Client Relationships Marketing Clients Agents 184

GoForrmz

MAY 14, 2024

Originally published on 03/17/2017 Elevate your small business operations with these top form fields and features Operating a small business isn't easy; owners juggle numerous roles and duties typically assigned to a larger team. This perpetual multitasking entails striving to match established competitors and industry giants — a challenging endeavor, particularly when bogged down by manual administrative tasks.

Business 148

Business Modernization Transportation Tools 148

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 370

Inventory Lending Mortgage Appraisal 370

Real Estate News

MAY 9, 2024

Despite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.

Brokerage 268

Brokerage Agents Buyers 268

Eyes on Housing

MAY 13, 2024

High mortgage rates and double-digit growth in home prices since COVID-19 have brought housing affordability to its lowest level in more than a decade. Given this reality, a recent NAHB study on housing preferences* asked home buyers about which specific compromises they would be willing to make to achieve homeownership. For 39% of buyers, accepting.

Buyers 158

Buyers Mortgage 158

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 195

Real Estate 195

BiggerPockets

MAY 6, 2024

If, like me, you check mortgage interest rates like an expectant parent checks their wife’s contractions, you doubtless will have analyzed every type of loan product in an attempt to inch the […]

Contracts 81

Contracts Mortgage 81

Housing Wire

MAY 8, 2024

Housing credit channels directly impact housing inventory channels. What does that mean? Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. Let’s see how this has played out in different stages of the economy. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand.

Inventory 441

Inventory Law New Listings Sellers 441

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

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 268

Real Estate 268

Eyes on Housing

MAY 8, 2024

Per the Mortgage Bankers Association’s (MBA) survey through the week ending May 3rd, total mortgage activity increased 2.6% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate fell 11 basis points to 7.18%. The 30-year FRM has risen 17 basis points over the past month as rates remained at around seven percent.

Mortgage 158

Mortgage 158

Inman

MAY 8, 2024

The plaintiffs in a suit known as Batton 1 have filed for a temporary restraining order preventing the final approval of the Keller Williams, Anywhere and RE/MAX settlements.

Buyers 187

Buyers Realtors Brokerage 187

BiggerPockets

MAY 6, 2024

A mayor in handcuffs, a bankrupt city mired in poverty, unemployment, and soaring crime: 10 years ago that was Detroit’s legacy. Today, it is a real estate success story.

Investors 78

Investors Real Estate 78

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 445

Sellers Legal Buyers Realtors 445

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 363

Buyers Real Estate Mortgage Housing Market 363

Real Estate News

MAY 14, 2024

The latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.

Inventory 246

Inventory 246

Eyes on Housing

MAY 8, 2024

According to the latest press release from Freddie Mac, the average rate on a 30-year fixed-rate mortgage has now risen to approximately 7.25%. As the data posted on NAHB’s priced-out web page shows, at this rate only about 27.5 million (out of a total of 134.7 million) U.S. households could afford to buy a median-priced.

Mortgage 158

Mortgage 158

Inman

MAY 13, 2024

The lawsuit filed last week alleges that the city of LA took part in "backroom machinations" in order to landmark a house that does not meet criteria for status as a historic cultural monument to "arrange the desired outcome.

Design 190

Design 190

BiggerPockets

MAY 10, 2024

The Sunshine State offers the exact combination of factors that make this investment option attractive. Learn if rent-to-own investing is right for you.

Investing 80

Investing Marketing Housing Market 80

Housing Wire

MAY 14, 2024

Dark Matter Technologies , formerly Black Knight Origination Technologies , named Vikas Rao as its deputy chief product officer, the company announced on Tuesday. In his new capacity, Rao will directly report to chief product officer Stephanie Durflinger. His responsibilities will include overseeing enhancements to the Empower loan origination system (LOS) and establishing Dark Matter’s developer community.

Technology 389

Technology Development Mortgage 389

Lamacchia Realty

MAY 9, 2024

Olivia O’Toole has joined Lamacchia Realty as an office manager in the Worcester County region. Olivia brings with her a strong foundation in real estate, having started her career in 2010 managing tasks and administrative processes for agents. She then co-founded and became the COO of a well-respected real estate company in Worcester County, helping to drive the company’s growth from 2013 to 2022 after which she ventured into consulting with her own firm, Synergy Coaching & Consulting

Realty 73

Realty Brokerage Real Estate Realtors 73

Real Estate News

MAY 7, 2024

The company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.

Brokerage 261

Brokerage Agents 261

Eyes on Housing

MAY 10, 2024

High interest rates and construction costs are the most serious impediments for new multifamily development according to the Q1 2024 NAHB Multifamily Market Survey (MMS).

Development 148

Development Construction Marketing 148

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

Mashvisor

MAY 10, 2024

Imagine checking in on your property to find that your couch has been ripped, your walls vandalized with graffiti, and your prized antique vase shattered on the floor.

Insurance 73

Insurance 73

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 429

Inventory Mortgage New Listings Marketing 429

Eppraisal

MAY 7, 2024

As the world pivots towards sustainable living, the residential real estate market stands at the forefront of this transformative shift, with solar energy emerging as a pivotal component in shaping the homes of tomorrow. For individuals navigating the dynamic landscape of home buying, selling, financing, or investing, understanding the multifaceted implications of integrating solar power into residential properties is essential.

Investing 74

Investing Real Estate Finance Law 74

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 267

Agents 267

Eyes on Housing

MAY 7, 2024

According to the Federal Reserve Board’s April 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards loosened further for all commercial real estate (CRE) loan categories and residential real estate (RRE) categories in the first quarter of 2024. While the Federal Reserve left the federal funds rate unchanged during their last meeting, demand for RRE and CRE.

Lending 147

Lending Loan Officers Real Estate Finance 147

Inman

MAY 8, 2024

At the Realtors Legislative Meetings earlier this week, MLS executives were told they would be responsible for making sure real estate agents and brokers follow the new commission rules.

Real Estate Agent 190

Real Estate Agent Realtors Real Estate Agents 190