Fri.Dec 01, 2023

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HUD proposes 30-day notice rule for public housing rent nonpayment

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) on Friday published a proposal that would require public housing agencies (PHA) to provide 30 days’ notice before filing an eviction notice in court for nonpayment of rent. PHAs with tenants in public housing and owners of properties participating in HUD multifamily project-based rental assistance programs would need to provide “written notification at least 30 days” before a court filing for an eviction due to rent nonpayment.

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Meet The Ten who defined 2023

Real Estate News

Real Estate News has selected the top newsmakers in a year shaped by trials — of all kinds — and resilience in the face of epic challenges and opportunities.

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Conforming, FHA loan limits rose for 2024, but who benefits? 

Housing Wire

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Those loan types would require a larger down payment of at least 10% of the home’s value, or $80,000, which would stretch his budget too thin. “With the latest Federal H

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DOJ asks Court of Appeals to reopen case against NAR

Real Estate News

The DOJ wants to revisit an antitrust case originally settled in 2020, and if successful, could demand even more changes to commission practices.

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REBNY vows to fight copycat commission lawsuit

Housing Wire

In the face of a copycat commission lawsuit , the Real Estate Board of New York has vowed to fight. In an email blast sent to REBNY members, the New York City real estate agent trade group said it would “vigorously defend the litigation.” Originally filed in early November, the commission lawsuit known as the March suit , after its lead plaintiff, takes aim at a REBNY Listing Service rule called the Buyer Broker Commission Rule, which states that the brokers “shall each be paid an equal share of

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Redfin settles class action case over wages

Real Estate News

More than 2,700 Redfin agents are eligible for compensation from the $3 million settlement payout.

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October Gains in Private Residential Construction Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.2% in October, after a dip in September. It stood at a seasonally adjusted annual pace of $884 billion. Total private residential construction spending is 0.7% higher compared to a year ago. This was the first year-over-year increase since December 2022.

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Seattle-based Coldwell Banker franchise ditches NAR

Inman

The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months.

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Paws and Property: Unleashing the Impact of Pets on Home Buying Decisions

Eyes on Housing

Pets can have a significant impact on home buying decisions for many people. According the U.S. Census Bureau, 2021 data shows that there are 63.8 million occupied housing units have at least one pet which represents almost 50% of the 128.5 million occupied housing units. A recent U.S. Bureau of Labor Statistics Consumer Expenditure Surveys examines the increase in household.

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Brad Inman’s 100 tougher, smarter must-dos for 2024

Inman

Brad Inman has coined a real estate industry mantra for next Year: "Roar in 24." Find out what else he's thinking about and how you can move into the new year stronger and braver than ever before.

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Appraisals: Using Comps Across a Freeway?

Appraisal Today

Pulling comps from the other side of the freeway By Ryan Lundquist Excerpts: It can be a REALLY bad idea to pull comps from the other side of the freeway, but not always. Today I have some thoughts about location, comp selection, and lenders freaking out when schools are mentioned in appraisal reports. I don’t normally pull comps across a highway In so many cases it’s an awful idea to cross a major road or highway to pull comps because a highway sometimes separates markets that are far different

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Americans support zoning changes to allow more housing, survey finds

Inman

From backyard cottages to duplexes and more mixed-use buildings, a survey of over 5,000 people found them broadly supportive of widespread zoning changes

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Paul J. Cervone Qualifies for the 2023 Lamacchia Realty President’s Club

Lamacchia Realty

For the 5th year in a row, Paul J. Cervone has officially qualified for the 2023 Lamacchia Realty President’s Club by surpassing $16,000,000 in sales volume this year! Paul is also a member of the 2019 , 2020 , 2021 , and 2022 President’s Club , and a member of the 2020 , 2021 , and 2022 President’s Club ELITE. Aside from President’s Club, Paul has a series of impressive accolades during his time with Lamacchia Realty.

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What Netflix and Lego can teach you about thriving amidst adversity

Inman

Darryl Davis shares some of the hard-won lessons of the world's most successful and resilient businesses. Put them to work in your professional life to meet the current moment.

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Top 5 Short-Term Rental Markets For High Returns and Growth

BiggerPockets

These five short-term rental markets are not the destinations you'd expect, but are certainly the ones you should own in.

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24 affirmations, lessons and contemplations for 2024

Inman

Does ill will have your holiday tinsel in a tangle? Grab some hot chocolate and realign your spirit with end-of-year insights to make this chilly season merry and bright.

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Is the influence of the 'Bank of Mom and Dad' set to grow?

Mortgagebroker News

Gifted downpayments are increasingly common in Canada's housing market amidst affordability woes

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Hallelujah! Finally, some good news about the real estate market

Inman

You loved last week's good news on mortgage rates, and this week brought even more smiles to real estate agents and brokers.

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Is Canada's housing market set for a resurgence in 2024?

Mortgagebroker News

Homebuying appetite remains high despite affordability challenges, suggests report

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Fed Chair Powell’s attempt to deflate rate-cut expectations flops

Inman

Investors who fund most mortgages remain convinced the Fed will begin lowering rates in the spring to avoid strangling the economy.

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We Asked Two Investors What Their 2024 Investing Resolutions Were—Here’s What They Said

BiggerPockets

It’s almost that time of year!

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ONE Sotheby’s taps Compass alum Lena Johnson as CMO

Inman

The marketing executive spent eight years at Vogue before transitioning into real estate and was instrumental in the founding of Compass' luxury division.

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Canada’s unemployment rate rises again

Mortgagebroker News

Signs of slowing economy continue

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Lawsuits, security breach and a big mortgage rate drop: Inman Top 5

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

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Winter's Hidden Opportunities

Eppraisal

The ebb and flow of the real estate market in the United States often dances to the rhythm of the seasons. While spring and summer are traditionally considered the peak home-buying seasons, the winter months present a unique set of opportunities. In exploring the seasonality of the housing market, let's unravel the nuances of winter real estate, shedding light on who stands to benefit the most during this chilly season.

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Americans hate their jobs. Real estate pros don’t have to

Inman

Understanding the current state of work culture could save stress and retention woes, writes Rachael Hite. Here are a few ideas on how brokers can make work more enjoyable in 2024.

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Majority of Canadians believe higher immigration worsening current housing crisis: poll

Mortgagebroker News

Survey also shines light on voting intentions

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Credit reports will be more expensive for mortgage lenders in 2024

Housing Wire

Mortgage originators will pay more to access consumer credit reports in 2024, reigniting complaints from mortgage lenders and trade associations. In 2024, Fair Isaac Corp. (FICO), the company that retains the rights to the market’s adopted methodology to measure consumer credit risk, will charge one price – higher than the current price – to all mortgage lenders, independent of their volumes.

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BMO, National Bank release Q4 results

Mortgagebroker News

Banking giants close out Big Six earnings season

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Introducing the 2023 HousingWire Tech Trendsetters!

Housing Wire

As the housing market continues to undergo a seismic shift, technology leaders like this year’s Tech Trendsetters stand as beacons, guiding the industry toward a future where innovation is not an option but an imperative for success. From cutting-edge fintech solutions to revolutionary proptech platforms, these leaders have demonstrated the ability to harness technology in addressing key challenges and unlocking new opportunities within the housing sector.

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Feds' $15bn for rental construction loans not enough, says CEO

Mortgagebroker News

Executive calls on further action

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6 best online real estate schools in Texas for 2024

Housing Wire

Ready to find the best online real estate schools in Texas? Completing the required 180 hours of prelicensing coursework is your first step to getting licensed. In this article, we’ll explore the best Texas real estate schools to equip you with the knowledge and skills necessary to thrive in this competitive industry — and pass the Texas real estate exam.

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Global investors see opportunity in Canada's housing shortage

Mortgagebroker News

Report finds multi-family sector continues to be highly desirable for investors

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CFPB’s Chopra addresses mortgage trigger leads, servicing rules in Senate hearing

Housing Wire

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra has made the rounds this week on Capitol Hill, providing testimony to Congress in their semi-annual reviews of the CFPB. On Thursday, Chopra took questions from members of the U.S. Senate Committee on Banking, Housing and Urban Affairs, including one on the controversial topic of mortgage trigger leads.

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