Housing Wire
OCTOBER 25, 2023
With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” Joel Kan, MBA’s vice president and deputy chief economist, said.
Real Estate News
OCTOBER 25, 2023
Defense attorneys argued that an “ambush video” introduced Tuesday in the Sitzer/Burnett trial was grounds for a mistrial, but the judge disagreed.
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Housing Wire
OCTOBER 25, 2023
With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. Buyers that did manage to purchase homes made higher down payments as home-price growth remained stubbornly elevated in Q3, according to a new report from LenderLogix. The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers.
George Dell
OCTOBER 25, 2023
We’re gonna crash! Now What? An appraiser’s job is to reflect the market. A couple of questions: What is “the” market? And how do I reflect? I like to divide consumer behavior into two thought patterns: Micro and Macro thinking. Micro thinking is under the assumption that the buyer is buying for personal use – […] The post Market Crash Adjustment?
Housing Wire
OCTOBER 25, 2023
For nearly 30 years, Deion Sanders has been a recognizable name in the sports world. He’s made headlines again this summer after being named the new head football coach at the University of Colorado Boulder and subsequently undergoing a roster overhaul that resulted in the departure of 81% of last year’s roster. A majority of the exits were made after Sanders and the coaching staff audited the roster and determined it wasn’t optimized for the desired productivity and results.
Real Estate News
OCTOBER 25, 2023
The median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
OCTOBER 25, 2023
During its annual conference this week, the brokerage unveiled four new tools and programs designed to help agents improve their financial future.
Housing Wire
OCTOBER 25, 2023
KANSAS CITY, Missouri — Courtroom proceedings in the Sitzer/Burnett commission lawsuit continued on Wednesday — after some drama — with HomeServices of America CEO Gino Blefari taking the stand. Blefari was cross-examined by Michael Ketchmark, the lead attorney for the plaintiffs. As Ketchmark began his questioning, he tried to show that the structure of HomeServices as the parent company of so many affiliates and franchises had the effect of enforcing the National Association of Realtors’
Real Estate News
OCTOBER 25, 2023
“We want to set up agents to be million-dollar producers” and remain W-2 employees, Jason Aleem, Redfin’s SVP of real estate operations, told Real Estate News.
Housing Wire
OCTOBER 25, 2023
The Financial Crimes Enforcement Network ( FinCEN ), a bureau within the U.S. Treasury Department, announced last week that it will again be expanding its Geographic Targeting Orders (GTOs). The new requirements are effective through mid-April 2024. The GTOs require title companies to identify the people behind shell companies used in all-cash purchases of residential real estate.
Real Estate News
OCTOBER 25, 2023
Plaintiffs in the Nosalek case want to reach a deal with RE/MAX and Anywhere following the brokerage companies’ settlements in Sitzer/Burnett and Moehrl.
Housing Wire
OCTOBER 25, 2023
A combination of mortgage volatility and extreme margin compression forced Homestar Financial Corp. to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. 31, 2023. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.
Inman
OCTOBER 25, 2023
On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.
Housing Wire
OCTOBER 25, 2023
Long known for its salaried compensation for agents, Redfin is trying a new pay model in two of the nation’s largest housing markets to help boost its market share. Under Redfin Max , a new pay plan being rolled out in Los Angeles and San Francisco , Redfin agents earn commission splits of up to 75% for transactions they generate on their own, according to a company announcement on Wednesday.
Inman
OCTOBER 25, 2023
First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.
Housing Wire
OCTOBER 25, 2023
First Team Real Estate , the largest independent brokerage in California , left Christie’s International Real Estate , the company first told Inman on Wednesday. Christie’s International Real Estate told Inman that the parting was “mutual.” “Christie’s will be a great franchise, but First Team is something different from that,” First Team founder Cameron Merage said in a statement.
Inman
OCTOBER 25, 2023
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial.
Housing Wire
OCTOBER 25, 2023
The plaintiffs in the Nosalek buyer broker commission lawsuit have asked Judge Patti Saris of the U.S. District Court in Boston to stay their case, along with defendants RE/MAX and Anywhere. In their motions to stay the case, the plaintiffs in the Nosalek suit state that they have agreed to the “ substantive terms ” of Anywhere ‘s and RE/MAX ‘s settlement agreements in the Sitzer/Burnett and Moehrl buyer broker commission lawsuits.
Inman
OCTOBER 25, 2023
Loan applications slipped to lowest level since 1995 as mortgage rates climb for the seventh week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association.
Housing Wire
OCTOBER 25, 2023
It has been an eventful and drama-filled 24 hours in Kansas City, Missouri, for the Sitzer/Burnett class-action antitrust buyer broker commission lawsuit. On Tuesday afternoon, after the National Association of Realtors finished its defense, HomeServices of America took the floor. HomeServices’ lead attorney Robert MacGill called Ron Peltier, the former CEO of Berkshire Hathaway HomeServices of America , to testify.
Inman
OCTOBER 25, 2023
New-home sales skyrocketed in September, soaring to a 20-month high, according to data issued Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.
Housing Wire
OCTOBER 25, 2023
Mr. Cooper Group improved its profitability in the third quarter of 2023 mainly due to the performance of its servicing portfolio, which benefited from high rates and low delinquency. However, the company still faces challenges on the origination side of the business, resulting in lower earnings and origination in the period. On Wednesday, top executives at the company told analysts that Mr.
Inman
OCTOBER 25, 2023
The largest privately held brokerage in the state of California has decided to separate from Christie's International Real Estate, launch a rebrand and promote former COO Michele Harrington to CEO, Inman has learned exclusively.
Housing Wire
OCTOBER 25, 2023
Florida -based Keyes Company , an independent real estate brokerage , partnered with housing data aggregator BHR , the company announced Tuesday. Through this collaboration, all Keyes agents will benefit from RealReports, BHR’s flagship product. The latter gathers property data , ranging from climate risk to property valuation, in one place. To do so, RealReports is pulling information from over 30 data providers.
Inman
OCTOBER 25, 2023
Agents are doubling down on networking to drive business in tough times, according to results from the Inman Intel Index, excerpts of which are available to Select subscribers for the first time.
Eyes on Housing
OCTOBER 25, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.
Inman
OCTOBER 25, 2023
In a powerful and athletic contemporary dance routine, The Agency CEO and dance partner Emma Slater achieved their "best dance yet" on Tuesday night's episode, judge Bruno Tonioli declared.
BiggerPockets
OCTOBER 25, 2023
Whether you're a new real estate investor or a seasoned one, understanding the ins and outs of home warranties can make all the difference in preserving your home's value and minimizing unexpected expenses.
Inman
OCTOBER 25, 2023
New legal filings propose that MLS PIN class members from the Nosalek lawsuit be included in the "substantive terms" of the Sitzer/Burnett and Moehrl settlements with Anywhere and RE/MAX.
BiggerPockets
OCTOBER 25, 2023
These lesser known equity agreements are starting to pick up steam in an overpriced and slow market. But there could be some danger involved. Here's what you need to know.
Inman
OCTOBER 25, 2023
According to brokerage growth expert Jim Turner, improving your virtual interview skills and setup increases your reach and your ability to connect with the best (and busiest) agents in your market.
BiggerPockets
OCTOBER 25, 2023
Remember the hype around crypto and NFTs in late 2021? Remember the promise of "virtual real estate" and the incredible returns it would bring? Well, it hasn't panned out like that.yet.
Inman
OCTOBER 25, 2023
In the opening remarks of CoStar Group's Q3 earnings call Tuesday, CEO Andy Florance revealed to investment analysts the company's grand plan to make Homes.com the portal of the future.
BiggerPockets
OCTOBER 25, 2023
Adding passive income sources to your investments is a key way to grow your wealth. While investing directly in real estate is a great way to diversify your portfolio, passive investments are key to growing your wealth further. Two commonly compared options are real estate syndication vs. REIT. Understanding the two and their differences is important when deciding how to invest your capital.
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