Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association ‘s Secondary & Capital Markets Conference in New York that the circular would be issued between now and June 12.

Buyers 521

Buyers Agents Real Estate Agent Real Estate 521

Appraisal Buzz

MAY 22, 2024

Mortgage application volume increased 1.9% during the week ended May 17, as the average rate for a 30-year- fixed-rate mortgage fell to to 7.01%, down from 7.08% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 7% compared with the previous week and were up 21% compared with the same week one year ago.

Mortgage 431

Mortgage Government Inventory Buyers 431

Real Estate News

MAY 4, 2024

Andy Florance discusses the “transformative technology” and his plans to rapidly expand the company while rolling out generative AI features later this year.

Technology 305

Technology 305

Inman

MAY 1, 2024

The class of 45 honorees represents the real estate industry's brightest achievers under the age of 40. Future Leaders is the latest addition to Inman’s growing industry-leading awards program.

Real Estate 189

Real Estate 189

Eyes on Housing

MAY 13, 2024

As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional 106,031 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how.

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187

BiggerPockets

MAY 20, 2024

In the next few days, our Brooklyn, New York condo will hit the market, and we will begin the first half of our long-planned, much-anticipated, greatly agonized-over 1031 exchange.

Marketing 82

Marketing 82

Appraisal Buzz

MAY 24, 2024

Mortgage bankers continued to lose on originations in the first quarter, as the average pre-tax net loss per loan was $645, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. That’s a decrease from the reported loss of $2,109 per loan in the fourth quarter of 2023. “While the first quarter of 2024 marks the eighth consecutive quarter of net production losses, these losses were less severe than the previous two quarters,” says Marina Walsh, vice p

Mortgage 396

Mortgage Business Appraisal 396

Real Estate News

MAY 19, 2024

A “consumer-centric” approach to buy-side commissions is better for all agents, industry leaders say. Here’s why, and what you need to know about the DOJ.

Agents 302

Agents 302

Inman

MAY 22, 2024

Deputy Director of Policy Michelle Corridon said Tuesday the agency would lift rules preventing vets from using low-cost VA loans to pay agents until it engages in a formal rule-making process.

Agents 186

Agents Clients Buyers Tools 186

Eyes on Housing

MAY 30, 2024

The Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA) estimates that 42% of 91,060 unsubsidized apartments completed in the fourth quarter of 2023 were absorbed (rented) within the first 3 months following completion. For condominiums, 56% of the estimated 4,915 units completed in the fourth quarter of 2023.

Marketing 179

Marketing Construction 179

BiggerPockets

MAY 20, 2024

Have you ever thought about buying rental properties abroad? It might surprise you, but investing overseas could bring in much more cash flow and appreciation than you thought possible.

Investing 83

Investing Real Estate 83

Housing Wire

MAY 30, 2024

Pending home sales sales dropped 7.7% in April compared to March as rising mortgage rates weighed on the market, according to data released Thursday by the National Association of Realtors (NAR). Year over year, pending transactions fell 7.4%. The NAR’s Pending Home Sales Index declined to 72.3 in April, down from 78.2 in March. All four U.S. regions reported decreases on both a monthly and yearly basis, with the Midwest and West experiencing the largest monthly declines.

Real Estate Agent 530

Real Estate Agent Inventory Realtors Buyers 530

Appraisal Buzz

MAY 31, 2024

According to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), homebuyer affordability declined in April due to rising interest rates and other costs increasing from a median $2,201 in March to a median $2,256, a $55 increase. The PAPI is calculated by measuring how new monthly mortgage payments vary across time—relative to income—using data from the MBA’s Weekly Applications Survey.

Mortgage 393

Mortgage Inventory Housing Market Buyers 393

Real Estate News

MAY 17, 2024

President and CEO Mark Willis called the move “unprecedented," and said the vote by the company’s agent-led IALC passed by an “overwhelming majority.

Agents 302

Agents 302

Inman

MAY 17, 2024

Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won't just survive, you'll thrive.

Real Estate Agent 191

Real Estate Agent Real Estate Agents Valuation 191

Eyes on Housing

MAY 17, 2024

Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 175,000 in April, following a gain of 315,000 jobs.

Marketing 184

Marketing 184

BiggerPockets

MAY 27, 2024

From the boardroom to the bedroom, faced with empty offices as remote employment continues to starve cities of workers, a massive nationwide repurposing is underway to transform workplaces into residential […]

Investors 82

Investors Real Estate 82

Housing Wire

MAY 6, 2024

Legendary investor Warren Buffett and Greg Abel, the CEO of Berkshire Hathaway Energy , addressed the commission lawsuits and HomeServices of America’s recently announced settlement of the suits, during Berkshire Hathaway’s annual shareholder meeting on Saturday. “There is no question that the industry will go through some transitions because of the settlements — ours and every other major player in the industry settled, the National Association of Realtors settled for more than $400 million ,”

Real Estate Agent 498

Real Estate Agent Real Estate Agents Realtors 498

Lamacchia Realty

MAY 17, 2024

The Boston Business Journal has officially named Lamacchia Realty to its exclusive Fast 50 list , representing Massachusetts’s 50 fastest-growing private companies. Every year, the Fast 50 companies are chosen and ranked based on revenue growth from the past four years; this year was 2020-2023. Boston Business Journal’s research department then analyzes those numbers methodically.

Realty 83

Realty Business Real Estate Brokerage 83

Real Estate News

MAY 31, 2024

The share of homes with price drops reached an 18-month high as sellers try to jumpstart buyer interest in stale listings, Redfin reported.

Sellers 304

Sellers Buyers 304

Inman

MAY 24, 2024

The luxury market is back. That was Compass co-founder and CEO Robert Reffkin's primary message during his latest appearance on CNBC's "Squawk on the Street," where he talked about home price trends, mortgage rates, and stock market ebbs and flows.

Marketing 194

Marketing Mortgage Brokerage 194

Eyes on Housing

MAY 20, 2024

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. The subsector’s greater reliance on cash buyers has not shielded it from recent market softening, which in turn is putting downward pressure on home builder sentiment.

Design 170

Design Buyers Marketing 170

BiggerPockets

MAY 13, 2024

A property management company plays a vital role in overseeing the daily operations of rental properties to ensure efficient tenant management while maximizing profitability.

Property Management 84

Property Management Tenants Landlords 84

Housing Wire

MAY 14, 2024

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.

Real Estate Agent 475

Real Estate Agent Agents Real Estate Buyers 475

Walitt Solutions

MAY 21, 2024

What does “Go to the Source” mean for my appraisal practice? When we agree to perform an appraisal, we accept the requirements associated with that particular type of appraisal assignment. If we don’t know what those requirements are, we have a problem! Rather than following rumor or unsubstantiated anecdote, refer to the appropriate professional source documents to fully understand your obligations.

Valuation 74

Valuation Appraisal Sellers Clients 74

Real Estate News

MAY 28, 2024

The organization is the first non-NAR MLS to announce its intentions, and it says keeping the compensation field provides more transparency for consumers.

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287

Inman

MAY 15, 2024

Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports.

Mortgage 183

Mortgage Marketing 183

Eppraisal

MAY 7, 2024

As the world pivots towards sustainable living, the residential real estate market stands at the forefront of this transformative shift, with solar energy emerging as a pivotal component in shaping the homes of tomorrow. For individuals navigating the dynamic landscape of home buying, selling, financing, or investing, understanding the multifaceted implications of integrating solar power into residential properties is essential.

Investing 74

Investing Real Estate Finance Law 74

BiggerPockets

MAY 23, 2024

Getting the right tenants is crucial for having a seamless landlord experience. Here are 12 questions to ask tenant references to ensure they're a good fit.

Tenants 87

Tenants Landlords Property Management 87

Housing Wire

MAY 25, 2024

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. But 2024 has proven that theory wrong. 2024 has had healthy inventory growth despite mortgage rates above 7%. Also, for the third time this year, I have hit my target of weekly inventory growth between 11,000 -17,000, thus leading to more inventory than we saw in 2023.

Inventory 518

Inventory Mortgage New Listings Marketing 518

Mashvisor

MAY 24, 2024

If you’re a real estate professional, one of the best ways to increase your industry value is to know how to find expired real estate listings.

Real Estate 77

Real Estate Investing Agents Marketing 77

Real Estate News

MAY 20, 2024

With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.

Construction 292

Construction Mortgage Marketing 292

Inman

MAY 1, 2024

The Atlanta-based Village Premier Collection, led by Cheri Benjamin, has joined Real under its Private Label program. The company has roughly 500 agents and closed $665 million in sales in 2023.

Brokerage 186

Brokerage Agents 186

Mortgagebroker News

MAY 9, 2024

Recent figures show a decline in sentiment towards brokers. How can you avoid letting your business slide?

Business 90

Business 90