Tue.Feb 06, 2024

article thumbnail

Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. There’s some optimism, however. With the central bank expected to cut interest rates this year, banks reported that loan demand should strengthen across residential loan categories in 2024, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday.

Lending 488
article thumbnail

The tiny but growing trend of assuming the loan

Sacramento Appraisal Blog

Look, assumable loans are basically eye candy in real estate because they’re so rare, but they’re actually starting to happen more. So, let’s talk about it. This post won’t go into details about requirements or how the process works, but I want to highlight this tiny but growing trend in the Sacramento region. UPCOMING SPEAKING […] The post The tiny but growing trend of assuming the loan first appeared on Sacramento Appraisal Blog.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Assumable mortgages grow in  popularity, but hurdles remain

Housing Wire

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. But a landscape of strict regulations, product limitations and operational inefficiencies hamper its widespread adoption. Assumable mortgages remain a niche market compared to new mortgage issuance. But these transactions have grown recently.

Mortgage 467
article thumbnail

Turn “Time is Money” On Its Head

The Appraiser Coach

In a Mastermind meeting with other (non-appraiser) business owners, I was reminded of how well so many principles that I share with you apply across different areas, whether it’s real estate or office work. There was a man by the name of Jack who was talking about how much he has to do. He’s constantly taking calls and responding to emails, without time to rest.

Law 195
article thumbnail

Experts offer tips for aging in place and compare costs to assisted living: CNBC

Housing Wire

The data is clear: aging in place is a clear preference for many older Americans making plans for how their later years will play out. But a lot of people approaching these ages may not know the best ways they can make their homes more accommodating for natural changes that come with aging, according to a new story at CNBC. “People might say, ‘I want to age in place as the default plan, because that’s what I’m already doing,’” Carol Chiang, CEO of personalized aging-in-place consulting company E

article thumbnail

CoStar takes portal war to YouTube, promises new platform

Inman

In three star-studded advertisements for Homes.com that appeared on YouTube over the weekend, the CoStar Group teases a "revolutionized" shopping experience ahead of Super Bowl Sunday.

More Trending

article thumbnail

NAR signals more declines to come after 3rd-straight membership dip

Inman

NAR Chief Economist Lawrence Yun warned of "further declines in membership over the next 24 months" after NAR posted a 2.1 percent annual membership decline last month.

Realtors 176
article thumbnail

Consumer education at the center of wire fraud mitigation efforts

Housing Wire

Even as the housing market slowed in 2022 and 2023, the fraudulent activity of bad actors did not let up. In its 2024 State of Wire Fraud report, wire fraud protection firm CertifID found that nearly 25% of the 650 U.S. home buyers and sellers it survey were targeted with suspicious or potentially fraudulent activities, while 10% were targeted for real estate fraud and 5% suffered losses during their real estate transaction due to fraudster.

article thumbnail

FNB of Pennsylvania to pay $13.5M to settle redlining allegations

Inman

FNB's 2017 acquisition of Yadkin Bank for $1.8 billion expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities.

Mortgage 167
article thumbnail

Rocket Homes Real Estate search app is available for buyers on Apple Vision Pro

Housing Wire

Rocket Homes Real Estate rolled out its new app on Apple Vision Pro, Apple ’s new virtual reality and mixed-reality headset. It will allow users to view and tour properties by blending their physical and virtual worlds, Rocket said. When homebuyers launch the Rocket Homes app in Apple Vision Pro, a home search page and map of nearby listings based on the user’s current location will fill their field of vision.

article thumbnail

Adam Neumann makes grand play to take back struggling WeWork

Inman

In a push to wrestle back the company he co-founded, Adam Neumann on Monday sent a letter to the co-working giant pressing it to sell its assets to Flow, Neumann's latest real estate endeavor.

article thumbnail

REX appeals latest court ruling in its ongoing battle with Zillow

Housing Wire

REX Real Estate is back again trying to get a new trial in its false advertising lawsuit against Zillow. On Monday, the now defunct discount brokerage filed an appeal with the U.S. Court of Appeals for the Ninth Circuit, asking the appeals court to reverse the lower court’s ruling on REX’s motion for a new trial. REX filed its motion for a new trial in November, roughly six weeks after its September trial concluded.

article thumbnail

Full-floor unit at Aman New York sells for $61.58M

Inman

The 6,300-square-foot unit was purchased by Hong Kong-based private equity exec Terence Chan through a limited liability company, and initially asked more than $70 million. Tal Alexander of Official repped the buyer.

Buyers 161
article thumbnail

FOA raises Blackstone borrowing level to $85 million

Housing Wire

Finance of America Companies (FOA), which had previously borrowed $60 million from longtime backer Blackstone Group , has increased its borrowed amount to $85 million and extended the end of its repayment term from November 2024 to May 2025. This is according to an 8-K filing made this week by FOA with the U.S. Securities and Exchange Commission (SEC).

Finance 430
article thumbnail

Federal judges side with plaintiffs in Chinese buyer ban hearing

Inman

Two of the four plaintiffs who filed a lawsuit in November against Florida's foreign buyer ban have been awarded a temporary injunction that allows them to resume stalled transactions. The next step in toppling SB264 is an appeal hearing in April.

Buyers 160
article thumbnail

Mortgage Rates Center couples data with insight

Housing Wire

Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making. HousingWire is dedicated to providing housing professionals with the full picture , and while there are many places to find rates information, the Mortgages Rates Center takes a nuanced approach – coupling data with context.

Mortgage 430
article thumbnail

How to simplify rent collection for both landlords and tenants

Inman

Rent collection is essential for your portfolio's financial stability and profitability. Ryan Barone shares strategies to simplify it for you and your renters.

Tenants 167
article thumbnail

First National Bank of Pennsylvania settles redlining case for $13.5M

Housing Wire

Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 million, the Department of Justice (DOJ) and the State of North Carolina announced Monday. FNB was involved in the case as a successor in interest of Yadkin Bank , which it acquired in 2017. The complaint alleges that, from 2017 through 2021, FNB failed to provide mortgage services to predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem, North C

article thumbnail

Stars align for Fathom to outsource data services to Constellation1

Inman

Fathom Holdings (Fathom) has hired Constellation1 as its primary data partner with the intent of outsourcing its widespread use of industry data.

article thumbnail

Christie’s affiliate dismissed from commission lawsuit

Housing Wire

The list of defendants in the Masiello copycat commission lawsuit just got shorter. In a document filed on Monday, the counsel for the home seller plaintiff Joseph Masiello notified the federal court in Arizona that it was voluntarily dismissing defendant Walt Danley Local Luxury , an affiliate of Christie’s International Real Estate , from the suit.

Realty 417
article thumbnail

Homeownership Rates by Race and Ethnicity

Eyes on Housing

The latest CPS/HVS data shows that the overall homeownership rate was 65.7% in the last quarter of 2023. This was 3.5 percentage points lower from the peak of 69.4% in 2004. In this post, we focus on the homeownership rates by race and ethnicity over the past decade. According to data from the Census Bureau, homeownership in the U.S. varies.

150
150
article thumbnail

Insellerate unveils a new user interface

Housing Wire

Insellerate , a customer relationship management (CRM) provider that serves banks, credit unions and other lenders, has rehauled its user interface (UI) to make it more user-friendly and efficient. To redesign the interface, the company collected feedback from more than 250 loan officers, demonstrating the company’s commitment to enhancing user experience.

article thumbnail

How Heather Haase is finding diamonds in a rhinestone world

Inman

In his latest Snapshot profile, Brandon Doyle talks to Heather "Sunshine" Haase about training, tech, authenticity and creating genuine connections.

Training 155
article thumbnail

A Warm GoFormz Welcome to Sydney Sloan, Our Newest Board Member

GoForrmz

The GoFormz Board of Directors proudly announces their newest member The GoFormz team is thrilled to welcome Sydney Sloan, Chief Marketing Officer of Drata, to our Board of Directors! Sydney’s considerable background in document management and software marketing for top tech firms makes her a priceless addition to our team. Our excitement is echoed by Rob Brewster, GoFormz’s CEO, who shared, "Sydney's market experience and successful track record in the SaaS industry, especially during periods o

article thumbnail

How love and politics are impacting homebuyers’ decisions

Inman

Although affordability is still the No. 1 factor in most homebuyers' moves, two surveys from Zillow and Redfin revealed politics and romance also play a role.

Marketing 135
article thumbnail

Housing Statistics for Beginners, Part 2

Birmingham Appraisal

Unlocking the Basics: Part 2 of Housing Statistics for Beginners In my last blog post, which was the first installment in this multi-part series, I discussed why it is important for agents to be aware of local housing statistics. We see national news stories that say this or that about the housing market, however, it may or may not reflect what is going on in our neck of the woods.

article thumbnail

Lamacchia Realty Announces Top Producing REALTORS® for January 2024

Lamacchia Realty

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for January 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by the office with the highest transaction numbers or sales for the month! January 2024 Winners of the Top 10 for the Company are: Eileen Doherty grew up in Woburn and resides in the area to this day.

article thumbnail

Maximizing Tax Advantages of Owning a Home

Eppraisal

The holidays are over which means April 15th is near and tax season is here. In the perennial debate between homeownership and renting, one significant factor often overlooked is the tax advantages associated with owning a home. While renting offers flexibility and freedom from property maintenance responsibilities, owning a home can provide substantial tax benefits that can positively impact your financial situation.

article thumbnail

25 Properties at 27 Years Old by Building His Own Rentals

BiggerPockets

Do NOT buy rental properties. There’s a MUCH better way to build wealth. And we mean that literally, “building” wealth is the best path.

article thumbnail

How to Spot Drainage Issues

Hank Miller Team

Home buyers would do well to learn how to spot drainage issues. Water is not your friend; if it's not controlled it will bite in a number of different ways and every one will hurt. The first and most obvious tell is the position of the home; is it declined from the road? Gravity ensures that water takes the path of least resistance; will that be rushing down an expansive driveway that lets it blast into the house or garage?

article thumbnail

How to Reduce Your Tax Bill with a Commercial Appraisal

East Coast Appraisal

Do you feel that you are paying an unfair amount in property taxes? If you believe the market value of your commercial property is lower than what the local authorities think it is, you may be looking for a way to reduce your tax bill. You may be able to appeal your current assessed value and provide evidence of your property's true value. A company that provides commercial appraisals in your area may be able to help.

article thumbnail

Lamacchia Realty’s Top 10 Blog Posts of 2023

Lamacchia Realty

Lamacchia Realty's Best Blog Posts of 2023 Real estate is a constantly evolving industry, and staying up-to-date on the latest trends and best practices is essential for success. That’s why Lamacchia Realty’s blog is a valuable resource for agents and clients alike. In 2023, these were the 10 most popular articles on our blog, covering a range of topics including market analysis, new developments, and homebuying tips.

Realty 52
article thumbnail

Is Canada's housing supply crisis about to get worse?

Mortgagebroker News

Familiar woes for housing and mortgage markets show no sign of easing

article thumbnail

Making $115K From a Nightmare First Deal (Cops, Evictions, and Break-Ins!)

BiggerPockets

Is the fear of “what if?” stopping you from investing in real estate? You could learn a thing or two from today’s guest.