Housing Wire
MAY 3, 2024
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected. The labor market isn’t tight anymore and that will eventually be good news for mortgage rates. After last month’s jobs report, I talked about the path the Federal Reserve could take to land the plane based on wage growth data slowing down and getting closer to the Fed’s model.
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.
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Housing Wire
APRIL 30, 2024
Over the years, Zillow has made it clear that it wants to help consumers with all aspects of their homebuying journey. Through the terms of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement Zillow is now getting into buyer representation agreements. Under the terms of NAR’s settlement agreement, agents will have to have a written agreement with a client in order to work with them as a buyer broker.
Appraisal Buzz
MAY 1, 2024
In this week’s episode, host Hal Humphreys talks with Kevin Hecht, Appraisal Training and Development Manager and Real Estate Economist for McKissock. It seems like the market is starting to pick up for the spring across the nation, but we haven’t seen any significant interest rate changes. What can appraisers expect from the market in the near future?
Real Estate News
APRIL 30, 2024
The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.
George Dell
MAY 1, 2024
Will there be a need for traditional “appraisal” in 5 years? We think not. Some 25 years ago, I was education chair for my Appraisal Institute Chapter. Our ‘custom’ seminar considered the topic of technology replacing appraisers. The conclusion was, especially for residential appraisal, that AVMs would take a great market share. Worse yet, because […] The post No Need for Appraisers?
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
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.
Real Estate News
APRIL 30, 2024
Mark Willis returned to Keller Williams after a 7-year hiatus, and he’s ready to lead in a new way. “It’s not about proving myself. It’s about impact.
Eyes on Housing
APRIL 29, 2024
Building upon our exploration of green building trends, major practices, and resilience strategies based on The Building Sustainably: Green & Resilient Single- Family Homes 2024 SmartMarket Brief, this article now shifts focus towards ways to increase green building within the housing market. Top Incentives to Build Green The survey asked all respondents to select the.
Housing Wire
APRIL 29, 2024
The weekly volume of new listings is now higher than at anytime last year. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. There’s two ways to interpret these trends. The bearish take is that there are many more sellers than buyers and inventory is rising.
Appraisal Buzz
MAY 3, 2024
Patelco Credit Union is now using the Empower LOS from Dark Matter Technologies to streamline and bolster home loan and home-equity origination. Patelco is California’s fourth-largest credit union mortgage lender by number of loans closed annually. The credit union’s 214 loan officers will use the Empower LOS to originate retail home loans, home-equity loans and home-equity lines of credit (HELOCs).
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 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.
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.
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.
Appraisal Buzz
MAY 3, 2024
Freddie Mac recently announced the sale of 20 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio to GITSIT Solutions. The loans, with a balance of approximately $5.7 million, are currently serviced by Specialized Loan Servicing and NewRez, d/b/a Shellpoint Mortgage Servicing. The sale is part of Freddie Mac’s Extended Timeline Pool Offering (EXPO) and the transaction is expected to settle in June.
Inman
MAY 1, 2024
In an email, the 1.5 million member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements' terms.
Real Estate News
APRIL 30, 2024
Ben Caballero isn’t slowing down. After landing in the Guinness book three times in his 62-year real estate career, he has achieved a new record.
GoForrmz
APRIL 30, 2024
Originally published on 05/02/2017 An introductory breakdown of Database fields and DataSources Did you know that leveraging powerful features like Database fields and DataSources on your digital forms can take your data management to the next level? The features paired together can not only streamline form completion processing times but also eliminate opportunities for human error.
Housing Wire
APRIL 30, 2024
As the July deadline for the implementation of the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement approaches, the trade organization is looking to iron out some details about buyer broker agreements. Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent.
Appraisal Buzz
MAY 3, 2024
The U.S. economy added 175,000 jobs in April – lower than expectations – while the unemployment rate increased to 3.9%, according to the U.S. Bureau of Labor Statistics. Job gains occurred in health care, in social assistance, and in transportation and warehousing – but it appears the labor market is losing velocity. The number of unemployed people was basically flat at 6.5 million.
Inman
APRIL 29, 2024
As the commission landscape changes, Side's Hilary Saunders writes, it's time for agents, teams and brokerages to look at the ways this will improve the industry's reputation.
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.
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?
Housing Wire
APRIL 30, 2024
Home prices were near an all-time high in February. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6.4% annual gain in February, up from a 6% gain in January, according to the newest report released Tuesday. It was the largest annualized increase recorded since November 2022. On an annual basis, the 10-city composite index grew by 8%, up from 7.4% the previous month.
Appraisal Buzz
MAY 2, 2024
The average rate for a 30-year fixed-rate mortgage increased to 7.22% this week, up from 7.17% the previous week and up from 6.39% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of spring home buying season,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Inman
APRIL 30, 2024
Expressing your value to clients begins with knowing yourself, writes mega-team leader Carl Medford. You cannot articulate what you have never taken the time to determine on your own.
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.
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.
Housing Wire
MAY 1, 2024
We lament over ever-changing rates , changing fees and guidelines. We change companies, processors, assistance and our workspace. Every area and facet of our industry , it seems, moves, and changes with the wind. It likely is part of what you like about your career. Each day has its own opportunity to be unique and come with its own interesting set of circumstances.
Appraisal Buzz
MAY 2, 2024
Ron Ross has joined Mobility Market Intelligence (MMI), offering data intelligence and market insight tools for the mortgage and real estate industries, as chief financial officer. Most recently, Ross held the positions of president and chief operating officer at Everee Inc., a full-service payroll company that he founded. There, he built and led multiple teams, including payment operations, tax operations, customer success and support.
Inman
APRIL 30, 2024
San Diego, Los Angeles, Washington DC and New York posted annual price increases for the third-straight month, with each of the cities S&P CoreLogic Case-Shiller tracks hitting record highs.
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.
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.
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