Tue.May 14, 2024

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Majority of recent homebuyers have regrets: survey

Housing Wire

A report released this week by St. Louis-based Clever Real Estate found that recent homebuyers, as well as people who are considering a home purchase in the next year, are experiencing a laundry list of difficulties. Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025.

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Has the housing market peaked for the spring?

Sacramento Appraisal Blog

Has the spring market peaked? There is a good chance it has. Let’s talk about that today. This post is designed to skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 5/15/24 KW Roseville Event (open to real estate pros) 6/5/24 Marketing Mastermind (register here) 6/6/24 Golden 1 Credit Union (details TBA) 6/11/24 Elk Grove […] The post Has the housing market peaked for the spring?

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Fidelity CEO says federal government’s title insurance proposals are ’misguided’

Housing Wire

Despite persistently high interest rates , big four title firm Fidelity National Financial recorded a much stronger start to 2024 than it did a year ago. In first-quarter 2024 , Fidelity reported total revenue of $3.299 billion, up from $2.474 billion a year ago. Its net earnings were $248 million, compared to a $59 million net loss in Q1 2023. The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment.

Insurance 431
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LERETA Promotes Mitch Bledsoe to Chief Technology Officer 

Appraisal Buzz

Mitch Bledsoe has been promoted to chief technology officer for LERETA , which provides real estate tax and flood services for mortgage servicers. Bledsoe, who joined LERETA in 2022, was previously senior vice president of enterprise technology. Bledsoe has more than 20 years of experience in technology management including leading numerous domestic and international teams through successful large-scale product development efforts, legacy modernizations, and the buildout and maintenance of suppo

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Steve Resch talks about financial planner relationships for reverse lenders

Housing Wire

Steve Resch, vice president of retirement strategies at leading reverse mortgage industry lender Finance of America , knows a lot about the intersection between the interests of financial planning professionals and reverse mortgage industry members. Financial planners have been, and remain, one of the most sought-after referral partnerships for reverse mortgage professionals to establish ties with.

Finance 406
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Redfin: Demand for Vacation Home Mortgages Dropped 40 Percent in 2023

Appraisal Buzz

Demand for vacation-home mortgages fell 40% in 2023 as the average U.S. home price surged to a record high, Redfin reports. Austin and the Bay Area saw the biggest declines in mortgages for second homes in 2023, according to the firm. In total, U.S. homebuyers took out 90,772 mortgages for second homes in 2023, Redfin’s data shows. That’s down 65% from the height of the pandemic housing boom in 2021.

Mortgage 195

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Dark Matter Taps Vikas Rao as Deputy Chief Product Officer

Appraisal Buzz

Vikas Rao has joined Dark Matter Technologies as deputy chief product officer. Rao has over 15 years of experience in software engineering, product management and technology leadership spanning public and private companies within the mortgage industry and in Silicon Valley’s startup scene. He previously served as vice president of product management for mortgage origination technology provider Ellie Mae.

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Reverse appraisal company hires former AAG chief appraiser

Housing Wire

Atlas VMS , the appraisal and valuation company led by Erik Morin , announced this week the appointment of Joe Pravettone as chief appraiser. The company describes the hire as a “significant addition” to its leadership team. Pravettone began his valuation career roughly 25 years ago, starting as an independent fee appraiser and ultimately working for both national appraisal management companies (AMCs) and large financial institutions.

Appraisal 395
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Down payments have doubled in the past 4 years

Real Estate News

The latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.

Inventory 249
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Better improves loan volume by 25% but remains unprofitable in Q1

Housing Wire

Better Home & Finance Holding Co. , the parent of digital lender Better , strongly improved its mortgage production and revenues in the first three months of 2024. But expenses continued to increase and the company remained unprofitable during the period. Better posted a net loss of $51.5 million from January to March, up from a loss of $50.8 million in the previous quarter and down from a loss of $87.6 million in the same period last year, according to filings with the Securities and Exchan

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Realtor.com CEO takes aim at ‘deceptive’ claims

Real Estate News

Damian Eales told Real Estate News that he loves competition but takes issue with Homes.com’s traffic claims and says they have “disparaged” buyer agents.

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Service provider LERETA appoints new CTO 

Housing Wire

Financial services company LERETA appointed Mitch Bledsoe to the position of chief technology officer, the company announced on Tuesday. Bledsoe joined LERETA in 2022 to serve as the senior vice president of enterprise technology. In his new role, Bledsoe will be responsible for the company’s technology innovation, design, infrastructure, application management and data service offerings.

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Compass scoops up Tennessee’s top brokerage

Real Estate News

The acquisition of Parks Real Estate and its 1,500 agents now makes Compass the biggest brokerage in the state.

Brokerage 229
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Marcus Skenderian Real Estate Group returns to Compass

Housing Wire

Broker associate Marcus Skenderian is bringing his five-person Marcus Skenderian Real Estate Group back to Compass after spending three years at Coldwell Banker. As part of the move, Skenderian is also opening an office in Laguna Beach, California. The team serves coastal California communities such as Laguna Beach, Newport Beach, Corona Del Mar, Newport Coast, Crystal Cove, Dana Point and more.

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Sitzer judge indicates his support for proposed NAR settlement

Inman

Judge Stephen R. Bough said payouts and practice changes in NAR's deal, added to those in the Keller Williams, Anywhere and RE/MAX settlements, represent "substantial benefits" for sellers.

Sellers 159
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FinLocker raises $17M in Series B funding round

Housing Wire

FinLocker , the St. Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. The investment from Radian Group and existing shareholders will enable FinLocker to introduce a suite of new features and tools designed to optimize the homebuying and homeownership experience.

Tools 352
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Agents say their brokerage has their back amid commission chaos

Inman

The NAR settlement shook the industry, but agents overwhelmingly told the Inman Intel Index they believe their brokerage has been an effective ally. It's a big win for brokerage training efforts.

Brokerage 151
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Three yards and a cloud of dust

Housing Wire

It’s an election year, and housing affordability appears to be a big concern for voters. So, it’s not surprising to see the administration and members of Congress announcing big ticket legislative initiatives to boost homeownership – like a 1 st time homebuyer tax credit and the Neighborhood Investment Act to fix up older homes. The Community Home Lenders of America (CHLA) applauds these initiatives.

Sellers 308
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2024 will be the year of the automated agent

Inman

Stop worrying that AI will replace you, MoxiWorks' York Baur writes. Start learning to use technology to your advantage by automating low ROI tasks.

Agents 163
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Top Form Fields & Features For Small Businesses

GoForrmz

Originally published on 03/17/2017 Elevate your small business operations with these top form fields and features Operating a small business isn't easy; owners juggle numerous roles and duties typically assigned to a larger team. This perpetual multitasking entails striving to match established competitors and industry giants — a challenging endeavor, particularly when bogged down by manual administrative tasks.

Business 148
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Virtual to brick-and-mortar: 5 brokerage models made for 2024

Inman

Take into account the way you like to work, your level of expertise and your desire for collaboration when considering the brokerage model that works best for you and your business.

Brokerage 145
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Mixed Price Changes for Building Materials in April

Eyes on Housing

Inputs to residential construction, goods less food and energy, increased for the sixth consecutive month, according to the most recent producer price index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction.

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10 answers to the questions confused sellers are asking now

Inman

The changing real estate landscape and media misinformation are creating confusion for homesellers. Mega-team leader Carl Medford lays out the facts so that you can educate your clients.

Sellers 138
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Single-Family Permits Up in March 2024  

Eyes on Housing

Over the first three months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 241,311. On a year-over-year (YoY) basis, this is an increase of 25.9% over the March 2023 level of 191,695. Year-to-date ending in March, single-family permits were up in all four regions. The range of permit increase spanned.

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Zillow now showing buyers how rate changes affect their options

Inman

Powered by mortgage rates from Zillow Home Loans, BuyAbility tool could help listing portal's lending affiliate get a head start on other lenders it competes with for borrowers.

Buyers 133
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Anthony Lamacchia Discusses Massachusetts Market Changes Post NAR Settlement on WCVB News

Lamacchia Realty

Last night, Lamacchia Realty CEO Anthony Lamacchia , appeared on a WCVB News segment with Ben Simmoneau to discuss the changes coming to the Massachusetts real estate market following the NAR class action settlement. He dives into how the result of the settlement will affects how commission is paid, and the impact it will have on buyers and sellers.

Realty 58
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Revive’s AI-fueled ‘Neighborhood Report’ vows precise home values

Inman

The pre-sale renovation company's latest use of artificial intelligence could reduce subjectivity the next time a real estate agent prices a home or advises a client, Revive executives said Tuesday.

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Cheap Old Houses: Buying Fixer-Uppers for Just $100K

BiggerPockets

Would you buy a house for $100K? That’s right, just twenty-five percent of the median home price in America.

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A blueprint for building a growth-oriented real estate team

Inman

It is crucial to put together the right team to keep growth going strong in today's real estate world. Here's how The Agency's Tara Scholl-Gettles did it.

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AirDNA vs. PriceLabs: A Comparison for Hosts and Investors

Mashvisor

The short-term rental market is booming, thanks to platforms like Airbnb, VRBO, and Booking.com.

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NAR seeks innovative real estate startups for 6th annual Pitch Battle

Inman

NAR announced the annual competition on Monday with an appeal for applications from startups seeking an opportunity to pitch themselves to investors, real estate pros and tech enthusiasts.

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Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!)

BiggerPockets

What goes into a commercial real estate deal? You’re about to find out!

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Finaya acquires Nexme in bid to create a homebuyer ‘super app’

Inman

The mobile solution merges home shopping with mortgage, insurance, title search and escrow management to offer a comprehensive home transaction experience, among other features.

Insurance 111
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Firm Capital Property Trust reports $9.9M Q1 net income

Mortgagebroker News

REIT doubles profit, showcases strong portfolio performance

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