Housing Wire
FEBRUARY 7, 2024
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic ’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022, but is in line with the pre-pandemic rate of 3.9% in 2019.
Real Estate News
FEBRUARY 7, 2024
Homes.com will run four new ads during the big event while Opendoor will livestream a real homeowner doing a virtual walkthrough during halftime.
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Housing Wire
FEBRUARY 7, 2024
Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% during the week ending Feb. 2 on a seasonally adjusted basis, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.
Real Estate News
FEBRUARY 7, 2024
After six years on the island, broker Chris Speicher says the real estate business remains paralyzed, prompting his “heart-wrenching” decision to leave.
Housing Wire
FEBRUARY 7, 2024
After closing out 2023 with its first annual membership decline since 2012, the National Association of Realtors is still struggling with its membership count. In January, NAR membership dropped 2.5% from the month prior to 1,515,837 members, according to the trade group’s monthly report released on Monday. This is down 2.1% compared to a year prior.
George Dell
FEBRUARY 7, 2024
MPI© (Market Price Indexing) is a holistic approach to market analysis and “time adjustments.” Here we look at the process, the theory, the judgment, and the benefits of this model. MPI – The process involves simple mechanics: Download the relevant competitive market data. Create a scatterplot with sale prices over time. Clean the data of […] The post Why MPI(c)?
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
FEBRUARY 7, 2024
RealReports, which provides property information for all U.S. homes, says it can give agents a competitive edge.
Housing Wire
FEBRUARY 7, 2024
Longtime reverse mortgage industry professional Bruce Simmons of American Liberty Mortgage in the Denver area has long used radio as both an educational and marketing tool for prospective reverse mortgage clients. Having endured many of the same business challenges in 2023 as other industry participants, Simmons recently sat down with RMD and described how a recent shift in his focus on radio has been beneficial.
The Appraiser Coach
FEBRUARY 7, 2024
Much easier to navigate and much easier to understand. The Appraiser Coach has a new website. Check it out at www.theappraisercoach.com Check out this episode!
Housing Wire
FEBRUARY 7, 2024
Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. The stress is leading to the bank to seek the sale of some of its assets to improve its capital position, executives said during a conference call on Wednesday morning.
Eyes on Housing
FEBRUARY 7, 2024
Per the Mortgage Bankers Association’s (MBA) survey through the week ending February 2nd, total mortgage activity increased 3.7% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate rose two basis points to 6.80%. The 30-year FRM has floated around 6.8% for much of the start of the year, only moving one basis point from January.
Housing Wire
FEBRUARY 7, 2024
Many factors prompt homeowners to relocate — and local laws and politics are increasingly among them. About one-third (32%) of real estate agents report having worked with at least one client who wanted to move for political reasons, according to a new Redfin report. Typically, housing affordability and proximity to family and job centers tend to rank high on the list of must-haves when choosing a destination to live.
Inman
FEBRUARY 7, 2024
The FAB Property Group founder has been operating in the Austin luxury market for over 20 years and is in the top 0.25 percent of agents in the city.
Housing Wire
FEBRUARY 7, 2024
Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman served as the company’s senior vice president of retail and direct sales for more than four years. In his new role, Hardiman will lead its lending and fulfillment operations.
Inman
FEBRUARY 7, 2024
Hawaii State Senator Brenton Awa has presented a bill aimed at banning foreign buyers from purchasing or investing in property on the island. The senator said the bill, if passed, would be an important to improving affordability for residents.
Housing Wire
FEBRUARY 7, 2024
New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. Lower interest rates, however, reduced the value of mortgage servicing rights (MSR) in the final three quarters of the year and affected the company’s overall performance during the period.
Inman
FEBRUARY 7, 2024
After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs.
Housing Wire
FEBRUARY 7, 2024
California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. In his new position, EQA Mortgage ’s former president will strive to bring unmatched support to mortgage brokers who sell non-QM products. “It’s not just about offering non-QM loans; it’s about providing a foundation for brokers to confidently navigate this complex market,” Yoon said in a statement.
Inman
FEBRUARY 7, 2024
Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums.
Appraiserblogs
FEBRUARY 7, 2024
Appraisers who do not agree to their hidden billing methods are excluded from the majority of the GSE lending marketplace for appraisal orders. Appraisal Management Companies (AMC’s) do not pass on cost savings for reduced appraisal services to consumers. Instead, they keep the savings for themselves without disclosing the amount to the consumer or the appraiser.
Inman
FEBRUARY 7, 2024
Watch the latest Inman Access class to hear what industry experts are prioritizing in 2024 and how the current market will impact or change the way they are approaching their business plans.
GoForrmz
FEBRUARY 7, 2024
Originally published on 12/09/2015 See how much you can save with GoFormz We at GoFormz conducted a customer survey spanning 14 industries in 5 countries. Of these respondents, 75% reported to work at a company of 50+ employees. Here are two important highlights we found: In our survey, 89% of customers reported a significant improvement in productivity by using GoFormz; while 72% reported a return on investment within a few months.
BiggerPockets
FEBRUARY 7, 2024
As of the end of 2022, 100% bonus depreciation was set to be phased out by the end of the decade. Now, with the Tax Relief for American Families and Workers Act of 2024, it looks like we could see bonus depreciation and other benefits stick around. Here's what you need to know about the bill.
Mortgagebroker News
FEBRUARY 7, 2024
National housing agency could address associated risks through insurance program, suggests executive
BiggerPockets
FEBRUARY 7, 2024
Baby boomers hold the vast majority of wealth in the U.S.—many estimates suggest over $17 trillion. Much of that wealth has come from their homes, many of which have been underinvested in over the last few decades. This means the next generation could be facing an avalanche of renovation costs.
Mortgagebroker News
FEBRUARY 7, 2024
Still, there's a caveat…
BiggerPockets
FEBRUARY 7, 2024
A free lease template on a subreddit somewhere sounds like an appealing, low-cost option. But going the cheap route on your lease documents might actually cost you more than getting it right from the start. Here's how to do that.
Mortgagebroker News
FEBRUARY 7, 2024
Rising rents and failing mortgage rates are shifting market dynamics
BiggerPockets
FEBRUARY 7, 2024
You could spend HOURS breaking down deals for cash flow, cash-on-cash return, return on investment, price-to-rent ratio, and countless other metrics.
Mortgagebroker News
FEBRUARY 7, 2024
The move signals confidence in the province's real estate market potential
BiggerPockets
FEBRUARY 7, 2024
The biggest real estate tax deduction is coming back.
Mortgagebroker News
FEBRUARY 7, 2024
Business groups are pushing back against recent immigration cuts
BiggerPockets
FEBRUARY 7, 2024
Want to learn how to create generational wealth? You know, the type of wealth that your children’s children’s children’s children can rely on.
Housing Wire
FEBRUARY 7, 2024
Consumer sentiment toward housing reached its highest level since March 2022, fueled by increased confidence in job security and a higher share of people who expect mortgage rates to decrease. Fannie Mae ’s home purchase sentiment index ( HPSI ) — which tracks the U.S. housing market and consumer confidence to sell or buy a home — rose 3.5 points in January to 70.7.
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