Fri.Mar 08, 2024

article thumbnail

Mortgage rates fall as labor market normalizes

Housing Wire

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Instead, the 10-year yield had a muted response after the headline number beat estimates, but we have negative job revisions from previous months. The Federal Reserve ’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%.

Marketing 500
article thumbnail

The new prime time for sellers? It’s no longer May

Real Estate News

A report from Zillow found that summer can be the most lucrative time to list, but low inventory means rate fluctuations can “make their own seasonality.

Sellers 263
Insiders

Sign Up for our Newsletter

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

article thumbnail

‘There will be bank failures,’ Fed chief tells lawmakers

Housing Wire

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. According to reporting by multiple outlets, including The Hill , Powell indicated that the risk is tied to small and midsized banks, and there is no systemic risk to the banking sector posed by the potential collapse of major institutions.

article thumbnail

Steve Harney, an educator, entrepreneur and advocate, has died

Real Estate News

Harney, a top agent, broker/owner and founder of Keeping Current Matters, is fondly remembered as “one of the kindest and most passionate men” in the industry.

Agents 244
article thumbnail

Ginnie Mae contends TCB can’t rely on alleged verbal promises in lawsuit

Housing Wire

Since the original filing of a lawsuit about the extinguishment of a priority lien tied to the loan portfolio collateral of Reverse Mortgage Funding (RMF), Texas Capital Bank (TCB) has argued in court that it was given verbal assurances from high-ranking officials at Ginnie Mae and the Federal Housing Administration (FHA) that its interests would be protected.

Legal 466
article thumbnail

People on the Move at Christie's SoCal powerhouse and Relevate

Real Estate News

Jamie Duran takes on EVP role at AKG Christie's after three decades at Coldwell Banker; Sheila Dodson to lead consulting, industry relations at Relevate.

186
186

More Trending

article thumbnail

Sitzer | Burnett plaintiffs’ attorneys ask for a third of settlement payout

Inman

After five years and nearly 100,000 hours of work, the law firms are asking a federal court for $82 million of the proposed settlements to be paid by Anywhere, Keller Williams and RE/MAX.

Law 193
article thumbnail

Canadian mortgage lender rolls back activities in flood-prone zones

Housing Wire

The Desjardins Group , a Quebec-based lender, is no longer issuing mortgages in high-risk flood areas, multiple media outlets reported this week. That is stoking concerns that similar measures could be taken in other places, including the U.S. According to the Insurance Bureau of Canada , roughly 1.5 million homes, representing about 10% of the nation’s housing market, are already unable to obtain flood insurance as many insurers across Canada avoid flood zones.

Insurance 450
article thumbnail

4 ways to ensure success as an agent in 2024 and beyond

Inman

Watch Shaun Osher on Inman Access as he shares his yearly success strategies, offering valuable insights and actionable advice to empower you to strive for success this year.

Agents 184
article thumbnail

Why Hometap is betting on the growth of the home equity investment market

Housing Wire

Based on the notion that far too many U.S. homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Hometap, as an investor, provides cash in exchange for a share of their home’s future value. When the home sells or the homeowner settles the investment within the 10-year period.

Investing 436
article thumbnail

HomeStack, LiveEasy partner to advance white-labeled solutions

Inman

HomeStack and LiveEasy offer white-labeled applications for real estate agents, vendors and consumers and provide a range of communication functions, home insights and market data. The two have announced a partnership.

article thumbnail

“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

It was mid-February when clients, family and friends began asking Jason Posnick about strange postcards appearing in their mailboxes. Thanks to Lisa Chinatti, the broker-owner at Chinatti Realty Group , he was not completely caught off guard. “Lisa is super on the pulse. She talks with a lot of people, and she announced to our company that this was coming and went through what exactly we should expect,” said Posnick, the sales manager at Chinatti Realty Group.

Agents 432
article thumbnail

Matt Beall: Hawaii’s market is ‘extraordinarily strained’

Inman

The Hawaii Life CEO said after pandemic demand and the Maui fires, inventory has been sparse. But he also said the market is finding its way back to seasonality, and philanthropic giving and community involvement are at a high.

Marketing 169
article thumbnail

Title waiver pilot program will have little impact on the industry: Fitch Ratings

Housing Wire

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. In an emailed statement, Fitch Ratings attributed this to the relatively narrow scope of the proposal.

Insurance 431
article thumbnail

HomeStack is a mobile solution for today’s agent: Tech Review

Inman

Inman's review of HomeStack, a custom mobile app solution for independent real estate brokerages, top-producing teams and tech-savvy agents.

Agents 184
article thumbnail

New Orleans litigator files commission lawsuit against Latter & Blum

Housing Wire

In a lawsuit filed on Tuesday in U.S. District Court in New Orleans, home seller plaintiff Joseph C. Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit.

Brokerage 421
article thumbnail

Lawsuits and leads: Here’s Inman’s Top 5 stories of the week

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 181
article thumbnail

Opinion: Real estate brokers, you don’t need leaders who are your clones

Housing Wire

The journey to becoming a great leader often hinges on one fundamental principle – helping others discover and embrace their true selves. As real estate leaders, our role is not to replicate ourselves in those we lead, but rather to guide them towards understanding who they are. This journey towards identity goes beyond creating copies of good leaders, and delves more into the realm of nurturing individuality.

article thumbnail

15 Instagram accounts agents can learn from in 2024

Inman

Jimmy Burgess shares 15 agents, team leaders and trainers who can help you find the perfect mix of content to grow your Instagram channel.

Agents 180
article thumbnail

Ex-Summit executive: I was fired after blowing the whistle on illegal recruiting methods

Housing Wire

A former top executive at Summit Funding has sued the lender, claiming he was wrongfully terminated after confronting the company’s leadership about allegedly illegal business practices involving its founder and president, Todd Scrima. Ex-chief growth officer Brian Mitchell accuses Summit and Scrima of gaining illegal access to confidential information from its competitor Movement Mortgage to poach their employees and take their businesses, according to the lawsuit filed on Feb. 7 in the Superio

Legal 421
article thumbnail

Are you ready to make your brand POP this spring? The Download

Inman

As Inman announces its Marketing All-Stars, it's time to dive deep into all the marketing expertise you'll need to shine bright this spring.

Marketing 170
article thumbnail

5 tips to upgrade your real estate networking game

Housing Wire

Success in the real estate industry hinges not just on what you know, but who you know. The foundation of this sector is built on trust and relationships. So, networking is about more than just transactions — it’s a crucial practice for building connections that nurture growth and unveil new possibilities. For real estate professionals , turning networking into a regular practice is key to long-term success.

article thumbnail

Redfin is beta testing its new AI search assistant Ask Redfin

Inman

Ask Redfin, an artificial intelligence assistant for homeshoppers, is now in beta testing on the company’s mobile iOS search experience.

article thumbnail

Marin County Historic Places (With Map)

Realvals

Marin County, nestled in Northern California, stands out for its breathtaking landscapes and rich history, captured through numerous historical landmarks scattered across the county. These landmarks, many located within or near national parks, offer a live history lesson, allowing both visitors and locals to dive into the past and discover the diverse stories that have shaped Marin County.

article thumbnail

Steve Harney, legendary Keeping Current Matters founder, dies at 68

Inman

Harney founded Keeping Current Matters in 2007 to help agents and homeowners prepare to navigate the coming financial crisis.

Agents 180
article thumbnail

Solid Job Growth in February

Eyes on Housing

In February, job gains continued despite elevated interest rates. The unemployment rate increased while the labor force participation rate held steady. February’s jobs report shows that the labor market remains resilient but shows signs of slowing. Additionally, wage growth slowed slightly in February. On a year-over-year basis (YOY), wages grew 4.3% in February, following a.

article thumbnail

Empowering through empathy: The women’s leadership advantage

Inman

By embracing and amplifying female voices, The Agency's Rainy Hake Austin writes, we can create a real estate industry that truly reflects the diversity and richness of the communities we serve.

article thumbnail

Celebrating Women in All Industries

GoForrmz

Celebrating the achievements of women in business from 2023 Happy International Women’s Day! International Women’s Day is celebrated on March 8th to recognize the cultural, economic, social, and political achievements of women. To celebrate this year, we at GoFormz are reflecting on the achievements women in business made in 2023. From the rise of female CEOs at Fortune 500 companies to the increase in female entrepreneurs, women have made significant strides this past year across multiple secto

article thumbnail

Talking money is ‘a form of protest,’ financial expert Tori Dunlap says

Inman

With 1.9 million Instagram followers and a best-selling book, financial expert Tori Dunlap sits down with Rachael Hite to share how she’s educating women on talking about money — out loud.

Finance 138
article thumbnail

Remove all bathtubs from home?

Appraisal Today

Is it a problem to remove all bathtubs in a house? By Ryan Lundquist Excerpts: I’ve been asked this question twice this week. Is it a problem to remove the tubs from each bathroom? People planning a remodel asked if it was a big deal or not to only have a walk-in shower in each bathroom. Here are my thoughts, and I really want to hear from you too. Anything to add?

article thumbnail

TikTok says men think about Rome. Women’s #RomanEmpire? Safety

Inman

Women have to think about their safety on the daily, trainer Rachael Hite writes. They don't have time for Julius Caesar and the lore of Rome.

article thumbnail

Every Major U.S. City Where It’s More Expensive to Rent Than Buy

BiggerPockets

Due to higher mortgage rates and elevated prices that have remained near their peaks for the last two years, investors have had to pay closer attention to how much they can cash flow. We crunched the data ourselves and only found a select few markets that have lower prices of ownership than rent, which indicates strong cash flow potential.

article thumbnail

Mauricio Umansky’s 4 tips for building strategic partnerships

Inman

In luxury real estate, Mauricio Umansky writes, partnerships can be powerful devices in your ever-evolving business toolkit.

article thumbnail

Is Puerto Rico America’s Best Investing Destination? Here’s What You Need to Know

BiggerPockets

With markets across the country cash flow-strapped and unaffordable, where do you turn? We've mentioned Europe, but there's a closer destination that's worth a look too.