Thu.Feb 08, 2024

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Housing credit data in Q4 looks nothing like 2008

Housing Wire

People have been screaming about a housing bubble crash on social media sites for over 12 years. The truth is, U.S. housing credit looks very different than in 2005, 2006, 2007 or 2008. Homeowners have actually never looked better and the data from the Federal Reserve ‘s Quarterly Report on Household Debt and Credit shows why. Homeowners are not the people we need to be concerned about this time.

Legal 492
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CoStar to spend a billion dollars on marketing in fight for portal crown

Inman

The company plans to advertise during the Super Bowl and other major cultural events in what it describes as the "biggest marketing campaign in real estate history.

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Mortgage rates show little movement as markets digest new economic data

Housing Wire

Mortgage rates stabilized this week despite newly released economic data. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, a slight increase from last week ’s figure of 6.63%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 5.90% this week, down from 5.94% during the prior week.

Mortgage 451
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Falling rates helped drive home price growth in Q4, NAR says

Inman

U.S. home prices shot up in 86 percent of the 221 metropolitan areas tracked by the National Association of Realtors and rose 3.5 percent in the fourth quarter, according to data released Thursday by NAR.

Realtors 187
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DocuSign lays off 400 employees following stalemate in sale talks  

Housing Wire

E-signature company DocuSign laid off 6% of its workforce, or about 400 employees, following reports that the fintech company’s talks in exploring a sale have stalled. A majority of the impacted positions came from the company’s sales and marketing organizations, the company said. DocuSign had 7,336 employees at the end of 2023. DocuSign began to cut operating costs for fiscal year 2025, including areas such as program spending, professional fees and noncritical open roles, according to a messag

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Flagstar mortgages could help NYCB shore up its balance sheet

Inman

Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital.

Mortgage 184

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Collaboration isn’t a buzzword. It’s a strategic imperative

Inman

Is the path to prosperity in real estate paved by fierce competition, or does the real power lie in collaborative endeavors? Coaches Emily Bossert and Melanie Klein share how teamwork can create optimal outcomes.

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How to write a lead-winning, memorable real estate agent bio (+ examples)

Housing Wire

As a real estate agent, you may think clients should care more about their next home than your life story. And while that may be true, well-crafted real estate agent bios can build trust and credibility and serve as a powerful tool in an agent’s marketing arsenal — giving prospective clients. After all, prospective clients are trusting you with one of their biggest financial decisions.

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Treasury releases proposed rule for reporting all-cash luxe sales

Inman

Real estate professionals who handle closings and settlements will be required to report information to the Treasury's Financial Crimes Enforcement Network when an all-cash residential sale is made to shell companies, legal entities and trusts.

Legal 176
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CSBS general counsel John Gorman dies after battle with cancer

Housing Wire

John “Buz” Gorman, a key figure in financial regulation for nearly 30 years, passed away on Monday following an eight-month battle with glioblastoma, a form of cancer. Throughout his tenure as general counsel for the Conference of State Bank Supervisors (CSBS), Gorman contributed to significant legislative milestones and nurtured the next generation of regulators.

Law 417
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Mortgage rates lead to biggest pending sales drop since October

Inman

Rising interest rates and harsh winter weather have dampened homebuyer activity, leading to the biggest drop in pending sales since October. However, there's optimism for a rebound as spring approaches, fueled by increasing home tours and new listings.

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Q&A: George Morales on new role with Mortgage Cadence and why a big bank could enter reverse

Housing Wire

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it. To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved

Mortgage 417
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ERA Real Estate expands presence in NOLA with veteran-owned firm

Inman

Slidell-based firm Top Agent Realty is now part of ERA Real Estate. Military veteran Stephen Molero purchased the firm in 2013 and serves consumers throughout Southeastern Louisiana and the Mississippi Gulf Coast.

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House introduces ‘abusive’ trigger lead ban bill, MBA announces support

Housing Wire

A bipartisan duo of members in the U.S. House of Representatives this week introduced a bill targeting the “abusive” uses of mortgage trigger leads, a companion bill to a previously-introduced bill in the U.S. Senate. House Resolution (H.R.) 7297, also known as the “Homebuyers Privacy Protection Act,” seeks to “amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes,” according to the bill’s o

Law 321
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Housing Affordability Remains Near Historic Low Level

Eyes on Housing

Mortgage rates that hit more than a 20-year high, coupled with elevated construction costs and excessive regulatory costs, left housing affordability in the fourth quarter of 2023 virtually unchanged from the previous quarter and holding near its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.7%.

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A softer rental market isn’t enough to help hopeful homebuyers

Inman

The rental market is stabilizing with fewer landlords planning rent increases, according to Realtor.com's latest survey. But the rent slowdown won't significantly ease financial burdens for renters who are struggling to save for a down payment or qualify for a mortgage.

Landlords 161
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Shane Lanham Countersuing Black Homeowners for Defamation

Appraiserblogs

Shane Lanham, a Maryland appraiser, has found himself in a difficult situation as he is being sued in The United States District Court of Maryland. However, he is not backing down and fully intends to fight these allegations through trial. In addition, he is countersuing the accusers for defamation and seeking $500,000 in damages. Lanham firmly believes that the accusations of racism against him are baseless and he has engaged a consultant with significant experience in handling such cases.

Appraisal 125
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Forget what you think you know about holiday listings

Inman

To achieve extraordinary results, The Agency's Deedee Howard writes, sometimes it pays to ignore conventional wisdom and pursue a more strategic marketing plan.

Marketing 166
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New CBO Population Estimates: Additional 8.9 Million People in 2053

Eyes on Housing

The Congressional Budget Office (CBO) released new 30-year population growth projections that include substantial upward revisions to the net immigration rates and slightly lower projected rates of mortality from COVID-19. As a result, the revised population estimates now include an additional 8.9 million people in 2053, a 2.4% increase from its previous forecast.

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11 things I wish they taught agents in real estate school

Inman

Building a real estate business is about more than memorizing lists of terms and laws, Jimmy Burgess writes. Find out what it takes to launch smarter.

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February Newsletter

DW Slater Company

We are excited to bring you our newsletter in a new format! We share what is happening in the Dallas-Fort Worth/North Texas area. No doubt, higher mortgages have impacted real estate in the past year. The higher rates decrease buying power for consumers which in turn decreases demand. Although demand has weakened with higher rates, the supply is still low here and prices have not decreased as much as many thought they would.

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NYC real estate news site Brick Underground to close unless sold

Inman

The site started as an objective resource for renters and buyers moving to or living in New York City. Staff holds out hope for a sale this month.

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RE Q&A: Can Condo Owners Sell a Parking Spot?

Empire Appraisal Group

Getty Images/bgwalker Source: [link] RE Q&A: Can Condo Owners Sell a Parking Spot? By Gary M. Singer One condo owner offered to buy an additional parking spot from their neighbor who had two spots. Is that legal? And if so, is it smart? FORT LAUDERDALE, Fla. – Question : I live in a condominium where every apartment has two assigned parking spots.

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Teams Spotlight: Ed Kaminsky, Kaminsky Real Estate Group

Inman

Troy Palmquist profiles luxury team leader Ed Kaminsky, a member of the council of eXp Luxury and founder of SportStar Relocation.

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Real estate farming: Become the go-to agent in your area using these tips, tools & strategies

Housing Wire

Real estate farming, otherwise known as geo-farming, is a dependable lead generation method that can help to create a steady pipeline of real estate leads and clients in your area. Real estate farming is a slow-burn strategy where consistency and intentionality matter, but when it’s done right, your efforts can yield long-ranging results when guided by a community-first approach.

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Broker Spotlight: Jeff Valentino, Valentino Group

Inman

Find out why this North Carolina broker says that real estate is as much a hospitality business as a sales and marketing one.

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Finance Friday: When to STOP Investing and Start Saving Cash Instead

BiggerPockets

Do you have a cash flow problem? You’re not alone! Dan invests in real estate, has a great W2 job, and maxes out his investment accounts.

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Nominations open: Inman’s Future Leaders in Real Estate Award

Inman

This new Inman Award recognizes breakout industry talent under 40. Nominations are now open, and all members of the Inman community are invited to submit.

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ACES CEO on compliance: “95% might as well be zero”

Housing Wire

Editor in Chief Sarah Wheeler sat down with Trevor Gauthier , CEO at ACES Quality Management , to talk about the benefits of tech partnerships and how the company is building a moat around their regulatory and compliance business. Sarah Wheeler: How do you think about build versus buy? Trevor Gauthier: For us, it’s actually four-fold. We look at building, purchasing or licensing, partnering and potential acquisition.

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Low inventory and high rates: Where do we go from here?

Inman

Industry experts share their thoughts on the state of the market and tactical solutions to implement in your business.

Inventory 172
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How are lenders assessing the current private market?

Mortgagebroker News

A less aggressive approach is prevailing, suggests broker

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Nir Meir charged with larceny alongside HFZ, Omnibuild execs

Inman

HFZ, Meir and executives from both HFZ and Omnibuild allegedly defrauded subcontractors, investors and the City of New York.

Investors 167
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Is Canada's housing slump coming to an end?

Mortgagebroker News

Residential transactions climb for the second straight month

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The Super Bowl Show: Which Host City Has the BEST Housing Market?

BiggerPockets

It’s February, and you know what that means…Groundhog Day!