Wed.Feb 15, 2023

article thumbnail

Mortgage demand declines amid persistently high inflation 

Housing Wire

Expectations that high inflation may persist for longer than previously projected put pressure on mortgage rates last week. In turn, it affected borrowers’ appetite for home loans. The latest Mortgage Bankers Association (MBA) survey showed that mortgage loan application volume declined 7.7% for the week ending Feb. 10 from the previous week. Compared to the same week last year, mortgage apps are down 57%.

Mortgage 382
article thumbnail

Measure the Neighborhood?

George Dell

Editor’s Note: This is Part 6 of the series on Neighborhood. We’re told we should analyze a neighborhood. This is mostly a residential concept. For non-residential appraisal the focus is often a “district” – a group of similar property uses. (Rather than a group of complementary uses.) In previous Analogue Blogs, we have looked at […] The post Measure the Neighborhood?

Appraisal 195
Insiders

Sign Up for our Newsletter

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

article thumbnail

Guaranteed Rate’s Larry Steinway makes the jump to Revolution Mortgage

Housing Wire

Larry Steinway, former senior vice president of lending and branch manager at Illinois-based Guaranteed Rate , has taken on a new challenge to expand the Ohio-based Revolution Mortgage footprint in the Chicagoland market. Steinway, who claims to have closed more than $1 billion of loan volume in his 24-year career, joined Revolution at the end of January, he said in an interview with HousingWire on Wednesday.

Mortgage 370
article thumbnail

National Association of Realtors’ Canadian twin is betting big on tech

Inman

The Canadian Real Estate Association, which owns and controls Canada's most popular listing site, is spinning off into a tech company. Ex-CREA Chair Cliff Stevenson shared what's in store.

Realtors 159
article thumbnail

HousingWire February Demo Day: Altos Research

Housing Wire

Altos Research Altos Research is the premier resource for real-time real estate data, providing weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions. Product Fast Facts #1 Altos tracks over 100M listings every week to deliver real-time market insights in beautifully designed, interactive market reports. #2 Altos Report emails have a 37% open ra

article thumbnail

Zillow sees revenue dip in Q4, but manages to trim losses

Inman

The portal giant brought in $435 million in revenue during the fourth quarter of last year and lost $72 million, according to 4Q22 earnings released Wednesday afternoon.

More Trending

article thumbnail

Artist’s psychedelic hula-hooping home lists in Colorado for $560K

Inman

A rainbow escape awaits the buyer of a psychedelic home in Colorado Springs where the house's interior is a colorful array of faux fur, murals, funky light fixtures, art installations and more.

Buyers 155
article thumbnail

APM makes leadership changes while continuing to eye expansion 

Housing Wire

California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. Bill Lowman was named vice chairman of APM, a newly created position while Ned Payment was promoted to chief executive officer from president of APM. Dustin Sheppard also moved up the ladder to president from executive vice president, according to the lender.

Retail 368
article thumbnail

Ex-rivals Opendoor and Zillow debut new partnership in Atlanta, Raleigh

Inman

Homeowners in Raleigh and Atlanta can ask for a cash offer from Opendoor and get an estimate from Zillow about what their home might sell for on the open market.

Marketing 152
article thumbnail

On Q Financial about Celebrity: “There’s nothing left to acquire”

Housing Wire

After Celebrity Home Loans reportedly laid off most of its employees this week without paying their last paychecks, commissions and severance payments, On Q Financial said the deal to acquire some of the company’s assets has fallen apart. “There’s nothing left to acquire ,” Patrick Lamb, an executive at On Q Financial, said during an interview.

Retail 284
article thumbnail

‘How the hell did I get here?’ How to make moves without regrets

Inman

If you’re feeling unfulfilled, bored, and just plain stuck in your current career, it could be time to make a change. But how do you know if the grass is actually greener on the other side?

Agents 152
article thumbnail

Barr Group Mortgage completes first Click n’ Close eNote transaction

Housing Wire

Texas-based mortgage lender Click n’ Close announced on Tuesday that its primary technology partner, Alabama-based mortgage banker Barr Group Mortgage, has completed the first eNote transaction using the Click n’ Close non-delegated correspondent eNote program. “Working with Ameris Bank’s warehouse division SVP Jill Gainer helped ensure the set-up process was straightforward, and our first two loans were purchased the day after closing,” Elizabeth Moore, chief operations officer at Barr Group Mo

Mortgage 283
article thumbnail

Demand for purchase loans sinks as mortgage rates rebound

Inman

Mortgage rates have been inching up from 2023 lows following a strong jobs report and January's Consumer Price Index readout, which shows only a slight cooling in inflation.

Mortgage 152
article thumbnail

Assistance options expanding for mortgage payments

Valuation Review

Loss mitigation options for borrowers struggling to pay their Federal Housing Administration-insured mortgages #FederalHousingAdministrationinsuredmortgages

Mortgage 145
article thumbnail

ICE sees $13B Black Knight merger surviving antitrust concerns

Inman

Black Knight is reportedly looking to spin off its Empower loan origination system to placate regulators' antitrust concerns as critics raise market power, data privacy issues.

Marketing 151
article thumbnail

Immigrants in Construction: Post-Pandemic Trends

Eyes on Housing

According to the most recent 2021 American Community Survey (ACS), the number of immigrant workers in construction, including self-employed, remained close to 2.8 million, on a par with the levels recorded by the ACS before the Covid-19 pandemic wreaked havoc on labor markets. The share of immigrant workers stayed at 24% of the construction workforce, slightly below the 2016 record.

article thumbnail

Compass team in New York departs to start joint venture with Side

Inman

Charlie Homet and John Brandon launched a boutique brokerage called Archpoint Advisory Partners in partnership with Side, focusing on properties in Brooklyn and downtown Manhattan.

Brokerage 154
article thumbnail

[Video] Procore, Together with GoFormz, Making the Most of Your Construction Technology in 2023

GoForrmz

Watch the recording of this roundtable discussion all about making the most of technology in your construction business. In 2023, the construction industry will continue to face labor shortages, high material costs, and rocky economic conditions. As a result, leading firms are embracing technology to improve employee efficiency, control project costs, and protect their bottom line.

article thumbnail

Homebuilders are feeling a lot more optimistic as market begins to thaw

Inman

Builder confidence rose seven points in February, to 42, according to the latest NAHB Housing Market Index. It's the highest score since September and the largest one-month increase in a decade.

Marketing 154
article thumbnail

Lamacchia Realty Opening in Salem, New Hampshire

Lamacchia Realty

After over a decade of serving buyers and sellers in New Hampshire, Lamacchia Realty is in the process of opening their first branch office in The Granite State! REALTORS ® and staff alike are thrilled at the opening of an office in Southern New Hampshire. With over 90 REALTORS ® licensed in NH and dozens that live there as far up as the lakes region, this opening is a long time coming!

Realty 74
article thumbnail

Cost cutting and existentialism: What to expect from earnings

Inman

Large publicly traded real estate companies are about to share their numbers from the most brutal quarter in years. Analysts are bracing for the worst — and watching to see who can thrive.

article thumbnail

Seller's Home Inspection Doesn't Replace a Homebuyer's Need for One

Buys Brokers Only LLC

A recent article in the Wall Street Journal suggested that home sellers might want to have their homes inspected before listing them for sale because knowing the property's condition might help with the sale.

article thumbnail

Pacaso firms up co-ownership union with HomeServices of America

Inman

Pacaso’s model gives luxury agents something new to offer clients, as well as opens their representation services to buyers who were once shutout of the traditional second-home market.

Clients 148
article thumbnail

CTO outlines platform’s ability to better appraisal experiences

Valuation Review

Reggora discusses point-of-sale system.

article thumbnail

Zavvie debuts power buyer program

Inman

The white-labeling program, zavvie Power Buyer, was announced exclusively to Inman and will include two models: contingency-free (cash offer) financing and a buy-before-you-sell bridge loan.

Buyers 147
article thumbnail

Why mortgage brokers could be more important than ever in 2023

Mortgagebroker News

The value of agents and brokers is coming increasingly to the fore, says industry executive

Agents 69
article thumbnail

Divvy Homes’ employees say there has been another round of layoffs

Inman

Although Divvy has not yet responded to requests for comment, a half-dozen former employees posted on LinkedIn that they were laid off Wednesday.

Tools 151
article thumbnail

How is Quebec's 2023 housing market shaping up so far?

Mortgagebroker News

The province continues to navigate the rising-rate environment that's taken hold in recent times

article thumbnail

Matterport Digital Pro offers listing agents all-in-one marketing package

Inman

Matterport Digital Pro includes 3D tour, 25 or more high-end still photos, a static 2D floor plan and a 10-15 second preview reel.

Agents 151
article thumbnail

Making $80K+ Per MONTH with Just 9 Rental Properties

BiggerPockets

You don’t need a hundred rental properties to make a million dollars a year. You can do it with less than ten properties. Sounds insane, right?

article thumbnail

The 1 metric you need to scrutinize, according to a real estate economist

Inman

Redfin Chief Economist Daryl Fairweather reveals to Intel the top data point signaling a coming rebound and shares why inflation and mortgage rates will continue to lead the market this spring.

article thumbnail

AQB proposes new Fair Housing education requirements

Valuation Review

AQB releases First Exposure Draft/proposed changes to Criteria.

60
article thumbnail

Playing the blame game in this market? Here’s how to stop

Inman

Whether you call it TBG or The Blame Game, it has an insidious effect on your business, writes team leader Carl Medford. The longer it's allowed to fester, the more damage blame will cause to team unity and morale, along with client confidence and trust.

Clients 142
article thumbnail

HUD releases report on overcoming offsite construction barriers

Valuation Review

HUD partners with National Institute of Building Sciences.