Fri.Sep 27, 2024

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Buyers still expect sellers to cover agent compensation

Housing Wire

The majority of homebuyers are still expecting sellers to cover their agent’s compensation, according to The Real Brokerage ’s August 2024 agent survey. This comes even as the business practice changes outlined in the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement have been implemented across the country. Real conducted its survey between Aug. 30 and Sept. 15, recording the responses of roughly 300 agents across North America.

Sellers 497
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FHFA Releases Data Visualization Dashboard for Multifamily Mortgage Acquisitions

Appraisal Buzz

The Federal Housing Finance Agency (FHFA) has announced the release of a new data visualization dashboard , an interactive tool for tracking data on multifamily mortgages that enables users to review details about loans and properties at both the state and national levels. Powered by the Public Use Database (PUDB) of mortgage acquisitions by Fannie Mae and Freddie Mac (the GSEs), the dashboard is a more accessible way to view and understand data on multifamily mortgages.

Mortgage 394
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Veterans are largely unaware of housing grants for aging in place

Housing Wire

A majority of U.S. veterans are not aware of the fact they can qualify for grants from the U.S. Department of Veterans Affairs (VA) to allow them to age in place, according to survey data from senior advocacy group AARP. Sixty percent of veterans who are 45 and older “are unaware that VA provides grant funding for home modifications , and almost a quarter of veterans say they need financial assistance to modify their homes to continue living there,” according to an article published by the VA.

Design 413
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‘Largely Fiction’: New Study Debunks Small-Town Affordability Myth

Appraisal Buzz

For some American families, a house in a tiny bucolic burgh might prove a less expensive option than putting down roots in a large city. But this widespread concept of idyllic and inexpensive “town and country” life is, in general, a myth, say experts, who published a new study to back that up. Researchers for LendingTree found home values in the country’s priciest micro politan areas (“towns” for the purposes of their report) rival those in the nation’s largest metros.

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Here are the top-performing Asian American agents and teams of 2023

Housing Wire

The Asian Real Estate Association of America (AREAA) has honored more than 220 agents and teams on its annual A-List for 2023 sales volume and sides. They will be formally recognized at the AREAA National Convention, Oct. 24-26 in Las Vegas. Together, the 157 agents and 68 teams produced $9.85 billion in sales volume on 10,214 sides. The rankings were created in conjunction with RealTrends Verified.

Agents 388
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Table Talks Discuss Challenges of Implementing DEI

Appraisal Buzz

In the DEI Table Talks that took place at the 2024 Five Star Conference & Expo, leaders in the industry were given a chance to engage in meaningful dialogues with experts committed to promoting diversity, equity, and inclusion (DEI) in their companies and the mortgage sector. DEI organizational structures are designed to encourage the equitable treatment and full participation of all persons, particularly those who have traditionally been underrepresented or susceptible to discrimination bas

Design 369

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Asking Rents for New Builds Slip to Lowest Level Since 2022 

Appraisal Buzz

The second quarter saw a 6.2% decrease in asking rents for newly built units to $1,746—the lowest amount in over two years. This is supported by a recent analysis from Redfin. Only this year’s first quarter had a greater reduction in rents—by 7.5%—than the second consecutive quarter in which newly constructed apartment rentals showed an annual decline, and the second-deepest decline in the previous five years.

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REcolorado finalizes controversial sale. But who owns the listing data?

Housing Wire

An explosive period for Denver’s multiple listing service (MLS) has come to an end, but an even more controversial one might be beginning. REcolorado announced on Friday that its sale to the Joseph Burks-owned entity MAZL has been finalized, three months after the two Realtor associations that previously owned the MLS fired the board of directors over an alleged breach of a confidentiality agreement.

Agents 373
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Five Star’s Mortgage Servicing Executive Alliance Celebrates First Anniversary

Appraisal Buzz

This piece originally appeared in the September 2024 edition of MortgagePoint magazine, online now. Founded last year, in the fall of 2023, the Five Star Institute’s Mortgage Servicing Executive Alliance (MSEA) , is an industry membership group focused on elevating the next generation of mortgage leaders to transform the industry in an inspiring and innovative way, as well as serving as a guiding force, cultivating talent, and fostering collaboration among mortgage professionals to build a bri

Mortgage 221
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Hurricane Helene has slammed the Southeast. Here are the impacts to real estate

Housing Wire

Hurricane season has arrived, and residents of Florida and other Southeast states are beginning to deal with the damage wrought after Hurricane Helene made landfall on Thursday. Helene was a Category 4 storm with winds speeds of up to 140 mph when it hit the Big Bend area of Florida’s panhandle, near Tallahassee, on Thursday night. But it quickly weakened and was downgraded to a tropical storm.

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California sets a 3-month limit on buyer agent agreements

Real Estate News

The new law, which takes effect Jan. 1, allows agreements to be extended — but not automatically. It was created in response to the NAR settlement.

Buyers 280
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TRG closes deal for Doma; Lennar gains minority ownership stake

Housing Wire

Title Resources Group (TRG) has closed its acquisition of Doma Holdings , the parent company of Doma Title , according to an announcement on Friday. The sale was first announced in late March 2024. In the all-cash transaction, Doma was valued at nearly $88 million. As a result of the sale, Doma’s underwriting division (DTI) is now a wholly owned subsidiary of TRG. “Combining DTI with TRG’s existing underwriter, we have become the fifth largest independent underwriter in the United S

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MBA: Homebuyer Affordability Improved in August

Appraisal Buzz

The national median mortgage payment applied for by borrowers was $2,057 in August —down $83 from July and down $113, or 5.2%, from August 2023, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures home affordability using multiple economic factors including mortgage rates, home prices and income.

Inventory 195
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These agents and teams are standouts in new LGBTQ+ rankings

Housing Wire

The LGBTQ+ Real Estate Alliance has released its fourth annual list of top-performing agents and teams, and it includes a highly productive bunch. The 314 agents and teams on the list produced $5.95 billion in volume across 10,776 transactions in 2023. Collectively, the list would have finished 29th among brokerages for sales volume and 36th for transactions sides on the 2024 RealTrends Verified Top 500 rankings.

Agents 337
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Tech Bytes: News from Zillow, MetroList, Lofty and Revive

Real Estate News

Zillow adds information about flooding, wildfire and other climate risks to its listings; MetroList teams up with StreetWire to offer Home Value Lock.

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Record lows: August reveals sluggish agent mobility

Housing Wire

The latest release data as of August 2024 indicates a significant decline in agent mobility, with the seasonally adjusted AMI metric hitting a new record low. This trend suggests that agents are increasingly less likely to consider switching brokerages as we head into the fall season. Key observations from August 2024: Agent mobility hits record low : The seasonally adjusted AMI metric has reached its lowest point since the index was established excluding the COVID month of April 2020 , indicati

Agents 313
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Private firm completes controversial REcolorado acquisition

Real Estate News

New owner aims to make Colorado’s largest MLS more subscriber-centric and simplify transactions as associations pledge “to create exciting new opportunities.

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‘I’m back in it’: Reality star Kendra Wilkinson returns to real estate

Inman

Douglas Elliman real estate agent and reality TV star Kendra Wilkinson has announced her return to real estate after taking a brief mental health break, "People" Magazine reported on Friday.

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State and Local Tax Revenue – 2024 Second Quarter Analysis

Eyes on Housing

State & local tax revenue from property taxes paid reached $780.9 billion in the four quarters ending in the second quarter of 2024 (seasonally adjusted), according to the Census Bureau’s estimates. This is a 1.7% increase from the revised $767.7 billion in the four quarters ending in the first quarter of 2024. Year-to-date, total state.

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New inflation data gives mortgage rates room to keep coming down

Inman

With inflation continuing to inch closer to the Fed's 2 percent goal in August, bond market investors are getting more confident that the central bank will continue to cut rates aggressively in November.

Investors 157
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The Extra Downside Protection I Look For in Investments

BiggerPockets

Commercial real estate has felt like a slow-motion car crash over the last two years, but as you continue (or start) investing passively, consider this framework for evaluating risk.

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10 must-read real estate business books perfect for 2024

Inman

Ready to improve your knowledge and take on some new ideas? Marketing tech expert Stacie Kimberlain offers a list of essential books just right for the current market.

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Is It Ethical to Invest in Real Estate?

BiggerPockets

There's a lot of opposition to real estate investing, and it centers around three key objections. Do they have a point? Or is there a better way to address the issue?

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REcolorado sold to private buyer, cutting ties with Realtor orgs

Inman

Joseph Burks bought the nation’s 16th-largest MLS on Friday, buying shares from Denver Metro Association of Realtors and South Metro Denver Realtors Association.

Realtors 165
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Waterfront Property Appraisals

Appraisal Today

Newz: Rate Drops and Appraisers, UAD Overhaul, Avoiding Court September, 30 2024 What’s in This Newsletter (In Order, Scroll Down) Avoiding Court: A Common Sentiment Among Appraisers (LIA ad below) Making Waves: Appraising Waterfront Property $850K Nantucket ‘Shack’ That Looks Set To Plunge Into the Sea New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond Sticky Prices The Fed is finally lowering interest rates.

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Don’t facilitate source of income discrimination by sellers

Inman

Don't discourage your sellers from talking to FHA, VA, USDA or DPA buyers, fair housing advocate Dr. Lee Davenport writes. Help facilitate both a timely sale and greater affordability.

Sellers 145
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Getting Tenant Turnover Right Can Increase Your Income and Lower Costs Dramatically—Here’s How to Do It

BiggerPockets

Tenant turnover is a huge issue. That's why it's just as important as anything else to get right. Here's how.

Tenants 86
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Kofi Nartey on the power of exclusivity and a luxury experience

Inman

Powerhouse luxury and celebrity real estate authority Kofi Nartey offers tips from upscale brands like Louis Vuitton and the Ritz-Carlton on how luxury real estate agents can deliver exceptional client experiences.

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New Home Issues - Problems with Concrete

Hank Miller Team

There's never a shortage of horror stories with home builders around Greater Atlanta. In this post, we look at new home problems with concrete. Problems here can be catastrophic; everything rides on the foundation being properly installed. Unfortunately, what should be done, sometimes isn't (some would say that's routine). While a company might strive to do things according to the "book", enforcing this at the build site while managing budget, time frames and labor often means things don

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Anywhere joins Compass in push for Clear Cooperation change

Inman

Compass on Thursday reiterated its call to ditch NAR's pocket listing rule. But documents newly obtained by Inman also show that Anywhere shares some of Compass' concerns.

Realtors 142
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Are better times on the horizon for Canada's mortgage market?

Mortgagebroker News

Rule changes and falling rates are sparking hopes of a busier market ahead

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Inman Power Wheels: The final showdown for best agent auto

Inman

You've narrowed down the field from the sweet 16. Now it's time to decide which vehicle reigns supreme in our agent auto showdown.

Agents 155
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5 Tech Tools for Short-Term Rentals to Amp Up Your Business

BiggerPockets

As short-term rental (STR) hosts, we balance a million things at once—guest communications, bookings, cleanings, and, occasionally, reminding guests that “no, your pet llama can’t stay.

Tools 47
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Clear Cooperation, paid leads, Serhant’s S.MPLE: 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.

Brokerage 150