Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78 billion. The jury reached its verdict after a little over two weeks of testimony from the plaintiffs and defendants.

Brokerage 545

Brokerage Realtors Sellers Buyers 545

Real Estate News

OCTOBER 31, 2023

After less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.

Sellers 363

Sellers 363

Inman

OCTOBER 16, 2023

The long-awaited Sitzer | Burnett commission trial is underway in Kansas City, Missouri, and Inman is covering it all live as it unfolds. Check back early and often for news, views, schedules and more.

Buyers 217

Buyers Agents Realtors Real Estate 217

Eyes on Housing

OCTOBER 5, 2023

NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the.

Property Taxes 216

Property Taxes Real Estate 216

Realtor

OCTOBER 16, 2023

Getty Images While buying a home has always been a challenging milestone, today’s high interest rates have made this dream even harder to achieve. Over the past two years, interest rates on home loans have nearly doubled from the 3% range to around 7% today. This tacks many hundreds extra onto the monthly expense of housing, stretching some homebuyers’ budgets to the breaking point.

Mortgage 190

Mortgage Real Estate Agent Real Estate Buyers 190

BiggerPockets

OCTOBER 31, 2023

Renting properties to tenants is a great way to earn passive income, but you must follow many laws and rules, including collecting security deposits. Before you begin renting to tenants, it’s important to understand the answer to what is a security deposit and all the factors that go into it.

Tenants 85

Tenants Law Landlords 85

Real Estate News

OCTOBER 6, 2023

The brokerage giants have agreed to significant policy changes as part of their settlement agreements in the Sitzer/Burnett and Moehrl commissions cases.

Buyers 322

Buyers Brokerage 322

Inman

OCTOBER 9, 2023

Owning multiple properties is relatively common with ultra-high-net-worth individuals. Agents should be well-versed in helping them identify and acquire secondary homes that fulfill their needs and goals.

Agents 206

Agents 206

Eyes on Housing

OCTOBER 19, 2023

Existing home sales in September fell to lowest level since October 2010 as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR). Low resale inventory and strong demand continued to drive up existing home prices, marking the third consecutive month of year-over-year median sales price increase.

Inventory 175

Inventory Mortgage Realtors 175

Mortgagebroker News

OCTOBER 30, 2023

The central bank will aim for a delicate balance in its coming policy announcements, DLC's chief economist says

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85

BiggerPockets

OCTOBER 18, 2023

As a real estate investor, eminent domain is something you should know about. If you own property in an area that the government needs for a road expansion, fire station, railway, or something else that benefits the public, it may be legally taken from you, whether you want to sell or not.

Legal 85

Legal Real Estate Government Investors 85

Housing Wire

OCTOBER 21, 2023

The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. New listing data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.

New Listings 537

New Listings Mortgage Inventory Housing Market 537

Real Estate News

OCTOBER 17, 2023

On day two of the Sitzer/Burnett trial, the plaintiffs presented opening arguments, while the defense said conspiracy claims are "conjecture.

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329

Inman

OCTOBER 6, 2023

In announcing the details of its settlement in the bombshell commission suits, the franchisor said that agents and brokerages would "have the freedom to set and/or negotiate commissions as they see fit.

Brokerage 202

Brokerage Agents Real Estate 202

Eyes on Housing

OCTOBER 12, 2023

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2023 posted a reading of 65, edging down 3 points from the previous quarter. While there is still demand for remodeling, some customers are pulling back on potential projects due to higher prices and increased interest rates. Even though remodeling spending has experienced some slow down over the.

Marketing 178

Marketing 178

Mortgagebroker News

OCTOBER 27, 2023

CEO on the 'good news, bad news' scenario presented by the Bank's October announcement

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83

BiggerPockets

OCTOBER 16, 2023

Rent control has been around for a long time, and it still doesn't work. Why are governments around the country so insistent on it, and why don't we learn our lessons?

Government 86

Government Landlords 86

Housing Wire

OCTOBER 18, 2023

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. Well, it’s certainly been a down market. How has the broker channel fared in the wake of the Fed rate hikes ? I asked the good folks at mortgage data technology firm InGenius to run the numbers. Take a look. “From the first six months of 2022 to first six months of 2023, brokers have increased their percentage from 23% to 28% while retail has decreased by that same percen

Retail 515

Retail Loan Officers Brokerage Mortgage 515

Real Estate News

OCTOBER 21, 2023

Defendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.

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318

Inman

OCTOBER 6, 2023

Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors.

Brokerage 202

Brokerage Realtors Agents 202

Eyes on Housing

OCTOBER 6, 2023

Job growth remained solid in September as the Fed fights against inflation. In fact, the recent jobs data has been stronger than most economists expected and is a reminder that GDP growth for the third quarter will be very strong and inflation risks persist. Total nonfarm payroll employment increased by 336,000 and the unemployment rate remained at 3.8% in September.

Construction 163

Construction 163

Mortgagebroker News

OCTOBER 18, 2023

The overnight rate could settle around 3%, according to leading economist

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93

BiggerPockets

OCTOBER 31, 2023

You don't need to replace your total income with passive investments to be financially free. It can start as soon as you learn to manage your money as well as possible. Here's how.

Investing 81

Investing Finance 81

Housing Wire

OCTOBER 9, 2023

Elevated mortgage rates continue to dampen already-pessimistic consumer housing sentiment and create affordability woes for both homebuyers and sellers. That feeling is underscored in Fannie Mae ’s latest Home Price Sentiment Index (HPSI), which decreased by 2.4 points in September to 64.5. The index tracks the housing market and consumer confidence to sell or buy a home.

Mortgage 512

Mortgage Housing Market Sellers Marketing 512

Real Estate News

OCTOBER 31, 2023

After the jury unanimously found for the plaintiffs in the Missouri case, the lead attorney announced he was filing a nationwide suit naming NAR, 7 brokerages.

Brokerage 311

Brokerage 311

Inman

OCTOBER 31, 2023

Jurors on Tuesday shocked the real estate industry, awarding damages adding up to $5.36 billion to homesellers after deliberating for 2 hours and 28 minutes.

Real Estate 211

Real Estate Realtors Brokerage Agents 211

Eyes on Housing

OCTOBER 25, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.

Finance 170

Finance Marketing Mortgage 170

Mortgagebroker News

OCTOBER 25, 2023

The central bank has made its second-to-last scheduled rate announcement of the year

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87

BiggerPockets

OCTOBER 31, 2023

When you ask what the most important factor is when buying a piece of real estate, whether it is a primary residence, a second home, or an investment property, their […]

Real Estate 82

Real Estate Investing 82

Housing Wire

OCTOBER 28, 2023

If I had told you on Dec. 31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Instead, the opposite has happened: home prices nationally hit an all-time high, inventory is still down year over year and the percentage of price cuts is 4% below last year’s level.

Inventory 508

Inventory Mortgage New Listings Marketing 508

Real Estate News

OCTOBER 17, 2023

Inventory could keep increasing as potential homebuyers ‘hit the brakes’ while mortgage rates remain elevated. Price cuts are also higher than usual.

Inventory 318

Inventory Mortgage 318

Inman

OCTOBER 3, 2023

The antitrust enforcer suggests the rule changes in the proposed deal don't go far enough. Plaintiffs' attorneys say the agency has failed to articulate its specific concerns.

Buyers 199

Buyers Realtors 199

Eyes on Housing

OCTOBER 27, 2023

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in September. The pace of personal income growth slowed after reaching a 1% monthly gain in January 2023. Gains in personal income are largely driven by increases in wages and salaries. With spending increasing faster than personal income, the September personal savings.

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156

Mortgagebroker News

OCTOBER 20, 2023

Average customer satisfaction among Canada's largest banks fell by double digits

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