Housing Wire
APRIL 15, 2024
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees.
Appraisal Buzz
APRIL 15, 2024
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports.
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Sacramento Appraisal Blog
APRIL 11, 2024
It’s been a pretty normal spring season so far, but if mortgage rates keep ticking up, that’s an x-factor in changing the feel of the market. Today, I have a big market update. This post is designed to skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 4/11/24 Lindsay Carlisle Event (private) 4/25/24 HomeSmart iCare […] The post Wait, so rates aren’t going down now?
Real Estate News
APRIL 11, 2024
More than a quarter of consumers surveyed by Redfin don’t know how much their agent was paid, while nearly 20% weren’t sure who provided the compensation.
George Dell
APRIL 10, 2024
The second of our “foibles” in USPAP may be from that same paragraph on page (ii), noted last week. This paragraph effectively sets the mission statement for the Appraisal Foundation. The paragraph is titled: “ABOUT THE APPRAISAL FOUNDATION.” It states the AF provides “guidance on recognized valuation methods and techniques for all valuation professionals.
Housing Wire
APRIL 15, 2024
Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. If this scenario unfolds, analysts and executives will be ready to update their baseline expectations for 2024, including fewer refinance and purchase loans than previously forecast.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
APRIL 15, 2024
A provision in NAR's settlement barring listing agents from offering buyer agents compensation is "largely symbolic," USC professor Jordan Barry said Friday at a University of Minnesota conference.
Real Estate News
APRIL 12, 2024
The ruling leaves open the possibility of consolidation after settlements have concluded. But in the meantime, cases that had been on pause can move forward.
Eyes on Housing
APRIL 10, 2024
Consumer prices continued to rise in March, with shelter and gasoline prices driving over half of the total increase. This marks the third consecutive strong reading. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over 60% of the total increase in all items excluding food.
Housing Wire
APRIL 15, 2024
Nevada Gov. Joe Lombardo (R) has submitted a letter to President Joe Biden , urging him to decrease federal spending and to take action on affordable housing issues. “A particularly acute concern to Nevadans is the housing market, which is reeling from the combined effects of high inflation and interest rates,” Lombardo said in the letter dated April 11.
Appraisal Buzz
APRIL 10, 2024
Mortgage application volume inched up 0.1% on an adjusted basis during the week ended April 5, as the average rate for a 30-year mortgage increased to 7.01%, up from 6.91% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 10% compared with the previous week – which included the Easter holiday – and were up 4% compared with the same week one year ago.
Inman
APRIL 11, 2024
If you want to build the listing side of your business in the wake of the NAR settlement, Jimmy Burgess has 30 practical, actionable, doable strategies tailor-made for this moment.
Real Estate News
APRIL 9, 2024
A pair of new reports look at the role investors played in the housing market last year and offer insights into their current outlook and pain points.
Eyes on Housing
APRIL 11, 2024
Inputs to residential construction, goods less food and energy, increased for the fifth straight month, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction.
Housing Wire
APRIL 15, 2024
As older people increasingly express their preference to age in place in their own homes, family members will oftentimes be required to provide some semblance of care for their loved ones in later life. Caregiving challenges can be compounded if there’s only one child in the family, but a reverse mortgage could offer a solution, according to a column published by Reuters.
Appraisal Buzz
APRIL 15, 2024
More than two thirds of renters (38%) in the U.S. say they’ll never own a home due to lack of affordability, a recent survey from Redfin shows. That’s up from roughly one-quarter (27%) less than a year ago, according to the technology-powered real estate brokerage. Nearly half (44%) of renters who don’t believe they’ll buy a home in the near future say it’s because available homes are too expensive.
Inman
APRIL 15, 2024
Want to increase your impact and improve your business? New Inman contributor Amy Hullet says the key is taking a genuine interest in people and getting out there to meet them where they are.
Real Estate News
APRIL 9, 2024
While consumers are feeling less enthusiastic about the direction of mortgage rates, they “appear to be moving past the hurdle of last year’s sharp jump.
Appraiserblogs
APRIL 15, 2024
In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Last week’s email from Cindy Chance, the CEO of the Appraisal Institute, marks an important and long overdue shift in the organization’s approach to addressing accusations of bias in the appraisal profession.
Housing Wire
APRIL 15, 2024
Although more agents are fielding questions about the commission lawsuits than they were a quarter ago , they also remain optimistic about where the housing market is headed in the second quarter of 2024, according to the RealTrends Q2 2024 AgentPulse survey. The survey, which was conducted between the end of March and early April, garnered 138 respondents: 34 from the Northeast, 29 from the Southeast, 21 from the Midwest, 38 from the Southwest and 16 from the Northwest.
Appraisal Buzz
APRIL 9, 2024
Mortgage lenders have been relying on CRM software to maintain their customer relationships and grow their businesses for decades. But it’s when the housing market stagnates and originations dry up that the software really pays off. With CRM software, mortgage lenders are able to use what they know about their borrowers to sell more products and win more business.
Inman
APRIL 12, 2024
Real estate professionals have been seeking answers since Wednesday, when many lost access to their personal websites, lead services and other tools provided by Boomtown, agents told Inman.
Real Estate News
APRIL 12, 2024
Attorneys argued that the home sellers “should not have to wait indefinitely to defend their verdict on appeal” and provided details about the case’s timeline.
Appraisal Partners Blog
APRIL 11, 2024
What can be a more traumatic and challenging experience of one’s life than divorce? It is one of the toughest emotional turmoils that may affect the entire life of an individual. However, amidst this emotional trouble, it’s essential to address practical matters, especially the division of assets and responsibilities. Structuring a divorce settlement agreement is […] The post <div class="hrt">How Do You Structure a Divorce Settlement Agreement to Protect Your Fu
Housing Wire
APRIL 15, 2024
Elevated mortgage rates , coupled with a stronger-than-expected inflation reading, dampened homebuilder sentiment in April. The National Association of Home Builders (NAHB)/ Wells Fargo Housing Market Index (HMI) did not change in April, staying at a reading of 51, according to data released on Monday. This marks a shift from a three-month period of gains for the index.
Appraisal Buzz
APRIL 12, 2024
Tracy Stephan has been named chief artificial intelligence officer (CAIO) of the Federal Housing Finance Agency (FHFA). Stephan will continue in her role leading the FHFA Office of Financial Technology. Stephan is a 25-year veteran in mortgage technology. Stephan came to FHFA from Fannie Mae where she served in a variety of positions overseeing enterprise innovation, data, software engineering, and product management.
Inman
APRIL 12, 2024
Tune in for an engaging discussion surrounding the latest trends, predictions and insider knowledge on the 2024 housing market to help you make informed decisions with confidence.
Real Estate News
APRIL 13, 2024
Bright MLS legal counsel Brian Schneider explained the ins and outs of the NAR settlement rule changes. Here’s what real estate professionals need to know.
Eyes on Housing
APRIL 15, 2024
Builder sentiment was flat in April as mortgage rates remained close to 7% over the past month and the latest inflation data failed to show improvement during the first quarter of 2024. Builder confidence in the market for newly built single-family homes was 51 in April, unchanged from March, according to the National Association of.
Housing Wire
APRIL 10, 2024
R New York , a brokerage boasting approximately 800 agents, has joined the American Real Estate Association , an alternative to the National Association of Realtors (NAR), according to The Real Deal. The American Real Estate Association’s membership increased by nearly 30% after the absorption of R New York members, bringing the total to roughly 3,800 members.
Appraisal Buzz
APRIL 11, 2024
Existing-home sales in this current market are mostly being driven by the “Five Ds” – death, divorce, diplomas, downsizing, and diapers – according to a report from First American. The firm’s Existing-Home Sales Outlook Report “nowcasts” existing-home sales based on the historical relationship between sales, demographic trends, house-buying power, and the prevailing financial and economic conditions.
Inman
APRIL 12, 2024
A panel of judges considering whether to consolidate real estate commission lawsuits into one cited the recent NAR settlement as a reason to deny the request.
Real Estate News
APRIL 9, 2024
During a podcast, Kevin Sears said interim CEO Nykia Wright will remain through the end of the year, and shared the financial realities behind NAR’s settlement.
Eyes on Housing
APRIL 12, 2024
Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4% over the February 2023 level of 112,131. Year-to-date ending in February, single-family permits were up in all four regions. The range of permit increase spanned.
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