Housing Wire

FEBRUARY 12, 2024

Roughly 10 months since first expanding into Florida , Ryan Serhant’s eponymous brokerage is expanding into its third market in the state. Previously, the brokerage only operated in the Miami and Palm Beach County markets. We’re excited to expand into the Orlando market,” Serhant said in a statement. In April of 2023, SERHANT.

Real Estate 410

Real Estate Marketing Brokerage Realty 410

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. That’s the takeaway from a group of economists at Fannie Mae , who slashed their forecast for 2023 this week. . in 2023, a slight improvement from the previous forecast, which predicted a 0.6% in 2022 and drop 0.5%

Housing Market 370

Housing Market Marketing Contracts Mortgage 370

Housing Wire

JANUARY 13, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best. Homebuilding Contract Values.

Marketing 473

Marketing Contracts Supply Chain Project Management 473

Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). billion in 2023. billion from $4.2

Mortgage 450

Mortgage Lending Retail Business 450

Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% January marked a surge of people signing contracts to buy new homes. The uptick in the sales pace resulted in just 439,000 new homes remaining on the market at the end of the month, representing 7.9 months of supply at the current sales pace, down from 8.7

Construction 432

Construction Contracts Buyers Development 432

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

Housing Market 421

Housing Market Marketing Contracts Finance 421

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. At the height of the spring market, the typical home had 5.5

Buyers 479

Buyers Realtors Inventory Sellers 479

Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. at the end of 2022.

Housing Market 410

Housing Market Marketing Inventory Buyers 410

Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.”

Inventory 370

Inventory Buyers Housing Market Contracts 370

Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

Mortgage 410

Mortgage Housing Market Retail Contracts 410

Housing Wire

DECEMBER 13, 2022

As brokers and LOs close out a challenging year and set their sights on 2023, it could be tempting to take a pessimistic view. However, there are actionable steps and strategies they can take to ensure 2023 is as profitable as possible. There are lenders who are well-capitalized and prepared for this market.

Clients 397

Clients Technology Real Estate Agent Business 397

Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. According to Redfin’s analysis, Austin, Texas has experienced the most rapidly cooling housing market in the nation over the last year.

Housing Market 384

Housing Market Marketing Contracts Buyers 384

Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. “That’s a lot of mortgages.

Mortgage 512

Mortgage Contracts Construction Inventory 512

Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. NAR’s Pending Home Sales Index (PHSI) increased to 77.3

Contracts 458

Contracts Housing Market Construction Inventory 458

Housing Wire

MARCH 18, 2024

million plus interest, granted as an interim award in November 2023, to $150.2 million in its financial results for the fourth quarter of 2023, paid the amount in full on Feb. million in damages related to a breach of contract claim, plus interest and attorneys fees. million in net income in 2023, down from $475.5

Legal 421

Legal Contracts Technology Development 421

Housing Wire

MARCH 13, 2024

The DOJ’s statement was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS PIN in July 2023. Since the initial filing, the plaintiffs and MLS PIN have filed two amended agreements in order to appease the DOJ, which first became involved in the suit in early October 2023.

Legal 441

Legal Contracts Sellers Buyers 441

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

Housing Market 370

Housing Market Marketing Contracts Lending 370

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. We’ll reach out to those loan officers in markets where we have existing retail branch locations. The goal is to expand its overall market share to 1% this year from 0.6%.

Loan Officers 370

Loan Officers Marketing Retail Renovations 370

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Buyers in the market still find themselves competing over relatively few homes for sale, a fact which continues to prop up home prices,” Lisa Sturtevant, the chief economist at BrightMLS , said in a statement. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71

Buyers 397

Buyers Inventory Contracts Finance 397

Housing Wire

APRIL 24, 2024

million it incurred in fourth-quarter 2023. PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release.

Lending 421

Lending Legal Contracts Mortgage 421

Inman

JANUARY 18, 2024

When it was first listed in early 2023, the unit asked $175 million. The duplex at Central Park Tower marks one of the rare deals in New York City that has commanded nine figures in recent years.

Contracts 180

Contracts Development Marketing 180

Appraisal Buzz

JUNE 17, 2022

According to a new report from Fannie Mae’s Economic and Strategic Group (ESR), a combination of rising interest rates and elevated inflation will continue to weigh on the housing market and are now predicting a 1.2% full-year market growth. The post Slowing Housing Market Expected Soon appeared first on Appraisal Buzz.

Housing Market 283

Housing Market Marketing Contracts Appraisal 283

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

Housing Market 527

Housing Market Marketing Real Estate Agent Real Estate 527

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

Business 420

Business Advertising Inventory Contracts 420

Housing Wire

OCTOBER 25, 2022

The MBA forecasts a recession in the first half of 2023, with the unemployment rate at 5.5% trillion in 2023, compared to $2.26 However, other industry forecasters believe that the MBA’s projections, which anticipate a 9% production decline in 2023, are actually rather “rosy.” million in 2023. .

Mortgage 370

Mortgage Contracts Insurance Business 370

Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. For agents and sellers looking to succeed in Austin’s current market, Redding says pricing is key. “We

Housing Market 397

Housing Market Marketing Inventory Buyers 397

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement.

Inventory 410

Inventory Contracts Housing Market Realtors 410

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. ” The seasons ahead Industry experts believe that the purchase market will recover in the spring, despite the volatility. The MBA data shows refinancings were 31.9%

Mortgage 384

Mortgage Marketing Loan Officers Contracts 384

Housing Wire

MARCH 26, 2024

Allegations include breach of contract and unjust enrichment, with damages sought at $250 million. But in August 2023 , during KW’s Mega Agent Camp event in Austin, the company’s International Associate Leadership Council (IALC) voted to revise the profit-sharing distribution policy.

Brokerage 500

Brokerage Legal Agents Realty 500

Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. On these crazy days in the financial markets, I stress to people, it’s not how the trading day goes that matters; it’s the final closing number.

Inventory 450

Inventory Housing Market Marketing Mortgage 450

Inman

JANUARY 18, 2023

The all-online brokerage saw its growth finally slow amid a broader market contraction. CEO Glenn Sanford eyes the challenges ahead for 2023.

Brokerage 157

Brokerage Contracts Marketing Realty 157

Housing Wire

APRIL 9, 2024

Their complaint challenges adjustments made to Keller Williams’ profit-sharing program and includes charges of breach of contract, declaratory judgment and unjust enrichment. In February 2020 , KW introduced a more restrictive policy to its profit-sharing program. But that policy did not impact agents who joined before April 1, 2020.

Brokerage 450

Brokerage Agents Legal Real Estate 450

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender hired more than 160 employees from the now-shuttered Finance of America (FoA) in January 2023.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion and to nearly $9.3

Marketing 384

Marketing Investing Mortgage Investors 384

Sacramento Appraisal Blog

JANUARY 16, 2023

Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].

Appraisal 341

Appraisal Contracts Real Estate Housing Market 341

Housing Wire

APRIL 1, 2024

Allegations against KW include breach of contract, declaratory judgment and unjust enrichment. But in August 2023 , during KW’s Mega Agent Camp event in Austin, the company’s International Associate Leadership Council (IALC) voted to revise the profit-sharing distribution policy.

Legal 441

Legal Brokerage Agents Real Estate 441

Housing Wire

NOVEMBER 23, 2022

The seller, who struggled to find a buyer in a cooled down housing market, agreed to deposit a lump sum payment into an escrow account at closing – ultimately saving Davis $6,900 in monthly payments in the first two years. It gives the buyer and seller the feeling of beating the mutual enemy, ‘the market,’ and gaming the system.”.

Buyers 473

Buyers Marketing Sellers Loan Officers 473