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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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RedfinNow launches in Phoenix housing market

Housing Wire

Since COVID-19 has enforced more restrictions on open houses, Redfin allows buyers to unlock the door of most RedfinNow listings via the Redfin app and self-tour seven days a week from 8 a.m. The post RedfinNow launches in Phoenix housing market appeared first on HousingWire. with no appointment needed.

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Buyers viewed just eight homes before making their purchase

Housing Wire

Right after the Great Recession, between 2009 and 2011, buyers viewed a median of 12 homes before purchasing, as inventory was plentiful. From 2004 to 2006, during the housing boom years, even though homes were moving at a rapid pace, buyers typically looked at nine homes.

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Zillow’s new AI feature can talk to home shoppers like it’s a friend

Housing Wire

.” “Beyond easy-to-filter criteria like bedrooms and bathrooms, buyers are considering many other specific features that match their unique lifestyle,” Jenny Arden, Zillow’s chief design officer, said in a statement. “The future of real estate will be powered through AI,” Arden said.

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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. Many of his buyers are still waiting for rates to come down before seeking preapproval for a mortgage. economy remains hot.

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Real estate agents wonder if inventory levels will ever return to ‘normal’

Housing Wire

“Prior to the COVID-19 pandemic, it was normal for inventory to rise in February as the spring home sellers began listing their homes and buyers weren’t yet out in force,” Simonsen wrote in his February 13 housing market update. We are seeing some modest increases, but the pressure is still there for the buyers,” Redding said.

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3 mortgage industry trends that will define the rest of 2021

Housing Wire

The subsequent lack of inventory, coupled with the high demand, has caused buyers to compete for properties, offering incentives and prices way above the asking price. Most buyers end up making multiple offers , working with brokers over more extended periods due to increased competition.

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