Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. That’s because the FHFA’s conforming loan limit increase is based on a formula related to home-price data in the third quarter of each year.

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Finance Government Law Mortgage 533

Sacramento Appraisal Blog

NOVEMBER 28, 2023

It can be a REALLY bad idea to pull comps from the other side of the freeway, but not always. Today I have some thoughts about location, comp selection, and lenders freaking out when schools are mentioned in appraisal reports. UPCOMING (PUBLIC) SPEAKING GIGS: 11/30/23 Safe CU “Preparing for a Successful New Year” 12/08/23 Free […] The post Pulling comps from the other side of the freeway first appeared on Sacramento Appraisal Blog.

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Appraisal Law Real Estate Marketing 307

Housing Wire

NOVEMBER 28, 2023

U.S. house prices rallied again in the third quarter of 2023. In fact, home prices rose 2.1% quarter over quarter and 5.5% year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. Month over month, the FHFA’s seasonally adjusted monthly index ticked up 0.6% in September. “U.S. house price growth continued to accelerate in the third quarter, appreciating more than in each of the previous four quarters,” Anju Vajja, principal associate director in FHFA ’s div

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Inventory New Listings Finance Buyers 473

Real Estate News

NOVEMBER 28, 2023

Fidelity National Financial, the nation’s largest title company, coming back “office by office” as real estate agents and loan officers find low-tech solutions.

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Agents Real Estate Agent Loan Officers Real Estate 282

Housing Wire

NOVEMBER 28, 2023

In another odd twist for 2023, the ability to split up after a divorce seems to be another casualty of the high mortgage rate environment. Couples who may have locked in a very low mortgage rate in previous years — but who are now seeking to end their marriages — are finding themselves needing to remain in their homes together as high rates make moving out an unaffordable prospect, according to a report at the Wall Street Journal.

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Mortgage 450

Real Estate News

NOVEMBER 28, 2023

The 5.5% increase for 2024 “seems like a pretty good indication,” that the Federal Housing Finance Agency expects home prices to keep increasing.

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Finance 276

Real Estate News

NOVEMBER 28, 2023

A collection of reports show that high mortgage rates weren’t enough to dampen price increases as demand continues to outpace supply.

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Mortgage 226

Housing Wire

NOVEMBER 28, 2023

Nonbank mortgage companies increased their profitability as a group in the third quarter of 2023, compared to the previous quarter, due to the performance of their servicing and origination businesses. It’s good news in the current shrinking market. Analysts at the credit rating firm Moody’s Investors Services wrote in a report on Monday that they don’t expect further improvements in the following quarters amid high mortgage rate levels and a depressed supply of homes for sal

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Finance Retail Mortgage Investors 432

Eyes on Housing

NOVEMBER 28, 2023

National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro areas had positive home price appreciation in September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth.

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Inventory Mortgage Construction 193

Housing Wire

NOVEMBER 28, 2023

Proptech solutions provider Ascent Software Group (ASG) has acquired property data collection platform Value Acceptance. Through the acquisition, ASG hopes to modernize the appraisal industry by providing innovative valuation products and solutions and complete new property data reports required by government-sponsored enterprises (GSEs). In March, Fannie Mae included more options for property valuations in its Selling Guide that put data front and center and moved away from the concept that ap

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Valuation Modernization Clients Appraisal 421

Inman

NOVEMBER 28, 2023

The homebuilder announced today the release of three new affordable floor plans for homebuyers in California’s Central Valley. Real estate agents in Shafter, Fresno and Clovis will be able to recommend the mid-$300,000 homes after the New Year.

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Real Estate Agent Real Estate Agents Housing Market 184

Housing Wire

NOVEMBER 28, 2023

Home prices rallied in September, as homebuyers still outnumbered sellers. Home prices posted a 3.9% annual gain in September, up from a 2.5% gain in the previous month, according to the S&P CoreLogic Case-Shiller Home Price Index. Month-over-month, the U.S. National Index, the 10-City and 20-City Composites each posted seasonally adjusted gains of 0.7%, down from 0.8% in August.

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New Listings Contracts Inventory Sellers 421

The Appraiser Coach

NOVEMBER 28, 2023

We all have to work with other people. Whether it’s customers, real estate folks, employees, homeowners, you name it. For many of us, the hardest part about working with other people is breaking bad news. Many of us prefer to just ignore a problem and hope it goes away, rather than actually talking to someone about it and fixing it. I’d like to share with you a practice that I use when addressing these kinds of issues.

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Real Estate Appraisal Inspection Advertising 150

Housing Wire

NOVEMBER 28, 2023

The Husky Homes real estate team, led by Alison Crim, has joined Compass , the company announced on Tuesday. Based in Madison, Wisconsin, the team of eight had been affiliated with Keller Williams Realty Madison East since its debut in 2020. “We are thrilled to be among the first teams to join Compass in Wisconsin,” Crim said in a statement. “With access to cutting-edge tools like Performance Tracker, Compass AI , and the innovative Compass Collections, we are poised to enhance our client experi

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Real Estate Agent Real Estate Realty Technology 410

Inman

NOVEMBER 28, 2023

Financial site LendingTree's latest consumer survey revealed 35 percent of Americans hope the market will crash in the next 12 months. Why? They believe an economic downturn will lower mortgage rates and home prices.

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Housing Market Marketing Mortgage 180

Housing Wire

NOVEMBER 28, 2023

Broker/owners have been on quite a ride over the last few years. With the residential real estate pendulum swinging from blissful exuberance in the second half of 2020 to extreme consternation for many today, brokers have had to pivot like never before. The ongoing housing market decline, which saw existing-home sales fall 36% in 2022 alone (on a seasonally adjusted annual basis) and 41% overall to September’s low, is the sharpest (though not the deepest) in the history of this industry.

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Real Estate Brokerage Advertising Housing Market 410

Inman

NOVEMBER 28, 2023

Surge in Q3 home price appreciation pushes conforming loan limit in high-cost markets to $1,149,825 for one-unit properties, and up to $2,211,600 for four-unit properties.

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Marketing Mortgage 180

Housing Wire

NOVEMBER 28, 2023

CubiCasa , a Finland-based proptech company, partnered with OneKey MLS – a major mortgage licensing system (MLS) serving the New York Metropolitan area – to provide user-friendly floor plan creation tools. Under the motto “scan a floor plan in five minutes” CubiCasa focuses on providing value for real estate professionals through the digitization of properties.

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Tools Technology Real Estate Training 410

Inman

NOVEMBER 28, 2023

The Georgia suit accuses NAR and major real estate companies of conspiring to keep commissions high. It's also the latest in a string of new cases following the Sitzer | Burnett verdict.

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Real Estate Realtors Brokerage Agents 176

Housing Wire

NOVEMBER 28, 2023

Rapidio , a mortgage underwriting technology provider, on Monday released the income assessment component of its underwriting product, FlexStack Component System. The new tool is an automated income verification feature, which is available across various types of loans, including conventional loans, FHA and VA loans. It validates, verifies, calculates and assesses guideline eligibility before presenting the entire income story to underwriters who make the final assessment.

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Tools Technology Mortgage 410

Inman

NOVEMBER 28, 2023

The tool is described in an announcement from the brokerage as similar to the Case-Shiller Home Price Index, with more real-time and metro-level data.

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Brokerage Tools 192

Housing Wire

NOVEMBER 28, 2023

HousingWire recently spoke with Mike Darne, vice president of marketing at CreditXpert , about credit optimization and how taking a closer look at consumer credit can benefit borrowers. HousingWire: You have advocated for giving consumer credit another look. Why is this important now? Mike Darne: In good times when qualified mortgage borrowers are plentiful, most originators don’t give a suboptimal credit score a second glance.

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Tools Mortgage Marketing 410

Inman

NOVEMBER 28, 2023

The 10,000-square-foot property will head to Sotheby's Concierge Auctions, no reserve, starting on Nov. 30. One lucky bidder will emerge as winner come Dec. 14.

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Architecture Realty 180

Housing Wire

NOVEMBER 28, 2023

Big Four title firm First American must pay the New York Department of Financial Services (DFS) $1 million as part of a cybersecurity violation settlement, according to an announcement on Tuesday. The settlement resolves cybersecurity violations made by First American relating to the breach and exposure of consumers’ non-public information. In addition to paying $1 million to New York state of violating the DFS’s Cybersecurity Regulation, First American has also agreed to implements remedial mea

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Real Estate Government Clients Insurance 410

Inman

NOVEMBER 28, 2023

The Sun Belt leads the ongoing drop in rent declines, and the price of rent is now lower than a year ago in 50 of the top 100 markets Zumper tracks.

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Marketing 187

Housing Wire

NOVEMBER 28, 2023

In the wake of the landmark Sitzer/Burnett commission lawsuit case, the real estate world is in turmoil. As industry players scramble to assess the fallout, there’s a silver lining for the astute – opportunity amidst chaos. The savvy real estate agents and loan officers see this not a crisis but a golden opportunity. Now is the time to rise as an influencer, a trusted advisor and a beacon of stability in a sea of uncertainty.

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Real Estate Real Estate Agent Loan Officers Clients 332

Eyes on Housing

NOVEMBER 28, 2023

The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter of 2023, 65% were absorbed into the market in the first three months following completion. 83% of 3,467 condominiums completed in the second quarter were absorbed within the first three.

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Marketing 166

Inman

NOVEMBER 28, 2023

National home prices climbed 3.9 percent from a year earlier in September and were up 0.7 percent from the previous month.

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Marketing 172

Eyes on Housing

NOVEMBER 28, 2023

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the third quarter of 2023, there were just 3,000 2- to 4-unit housing unit construction starts.

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Construction Development 109

Inman

NOVEMBER 28, 2023

The most critical issue for those not currently involved in the commission lawsuit litigation, writes trainer and author Bernice Ross, is how to proceed in light of the preliminary approval of the Anywhere and RE/MAX settlement agreements.

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Brokerage Agents 138

BiggerPockets

NOVEMBER 28, 2023

There’s no shortage of tips for flipping houses, but there’s something you need to know: The only tips that matter are the ones that move you toward the ultimate goal of flipping for a profit. With that in mind, here are 10 tips on house flipping to help ensure success.

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Eppraisal

NOVEMBER 28, 2023

Buying a house for the first time comes with unique benefits. However, the cost is often intimidating, especially for those who haven’t yet learned their options. There are various methods to making a home more affordable for you and any loved ones. Here’s what you need to qualify for a loan, plus the rundown on five financing choices.

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Finance Government Insurance Property Taxes 69

BiggerPockets

NOVEMBER 28, 2023

Investing in real estate out of state can be one of the best ways to diversify your investments. Even if you have a great local real estate market, spreading your money into different markets can help you maximize your profits and decrease the risk of a total loss should one market fail.

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Real Estate Investing Marketing 72

Mortgagebroker News

NOVEMBER 28, 2023

Neighbourhood Holdings marketing coordinator on a tactic that should be a key part of brokers’ approach for next year

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Business Marketing 65