Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.

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Appraisal Buzz

APRIL 24, 2024

Today, host Hal Humphreys chats with Jason Ferris, MAI, SRA and owner of Bell Ferris, Inc. Ferris discusses his background in the industry and his experience with Short Term Rentals. It seems like bringing up Short Term Rental valuation is the quickest way to start a fight on social media. Why is there such wild variance of opinions on how to handle these?

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Valuation Appraisal Housing Market Marketing 368

Sacramento Appraisal Blog

APRIL 24, 2024

Insurance has been a glaring mess in California, and it’s really starting to affect the housing market. Today, I want to share some things I’m hearing from the real estate community after asking for feedback on my social channels about home and fire insurance. The goal is to give some perspective and advice to sellers […] The post The insurance crisis is affecting the housing market first appeared on Sacramento Appraisal Blog.

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Insurance Housing Market Marketing Sellers 308

Real Estate News

APRIL 25, 2024

In a conversation with Real Estate News, Dr. Courtney Johnson Rose of NAREB discussed the pros and cons of the recent settlement and upcoming rule changes.

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Housing Wire

APRIL 26, 2024

Who doesn’t have a podcast these days? Anyone with a microphone and a cup of coffee can wax poetic about the ebbs and flows of the industry. While there is plenty of noise out there, we dug for podcast gold to come up with a list of the best real estate podcasts that are worth your time. We curated a shortlist of the top real estate podcasts that provide useful information for agents at every stage of their careers.

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Appraisal Buzz

APRIL 24, 2024

Mortgage application volume decreased 2.7% during the week ended April 19, as the average rate for a 30-year fixed-rate mortgage increased to 7.24%, up from 7.13% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 3% compared with the same week one year ago.

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Real Estate News

APRIL 25, 2024

During the T3 Leadership Summit, the eXp founder discussed some of his early challenges, the need for internal disruption, and his international ambitions.

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Housing Wire

APRIL 23, 2024

The National Association of Realtors (NAR) can breathe a small sigh of relief. The trade group’s nationwide settlement of the commission lawsuits has passed its first hurdle as Judge Stephen R. Bough, who oversaw the Sitzer/Burnett lawsuit , granted preliminary approval to NAR’s settlement on Tuesday. While the agreement still must receive final approval from the court, the industry is now one step closer to operating under the new rules outlined in the settlement agreement.

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Appraisal Buzz

APRIL 23, 2024

New home sales in March were at a seasonally adjusted annual rate of 693,000, an increase of 8.8% compared with February and up 8.3% compared with March 2023, according to estimate from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. The median sales price of a new home sold in March was $430,700. The average sales price was $524,800.

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Inman

APRIL 26, 2024

HomeServices was potentially on the hook for the remaining $4.7 billion in damages from an Oct. 31 jury verdict in Sitzer | Burnett, which awarded plaintiffs $5.3 billion.

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Real Estate News

APRIL 26, 2024

The last defendant standing in the Sitzer/Burnett case reaches a whopping settlement that will protect its 70,000 agents plus brands and franchises.

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Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. This is something I talked about last week on Yahoo Finance.

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Appraisal Buzz

APRIL 22, 2024

Let’s get real for a moment. When that email from an AMC hits your inbox, asking for your best fee and quickest turnaround, do you feel that twinge of annoyance? You’re not alone. A lot of folks in our field are downright peeved (and quite vocal) about the whole bidding process. They see it as a race to the bottom, a game where the only winning move is not to play.

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Appraisal Real Estate Agent Business Real Estate 358

Inman

APRIL 24, 2024

Buyers and sellers are confused about the new rules of the road. Trainer Bernice Ross and Jeff Lobb discuss how agents can change up the conversation and add clarity and confidence.

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Real Estate News

APRIL 23, 2024

A hearing for final approval is scheduled for Nov. 26. The court filing also included information about who is covered in the nationwide class action.

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Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story. The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages

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Appraisal Buzz

APRIL 26, 2024

Homebuyer affordability worsened in March, as the average mortgage payment applied for by purchase borrowers increased to $2,201, an increase of $17 compared with February and up $108 compared with March 2023, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).

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Inman

APRIL 26, 2024

Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it.

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Real Estate News

APRIL 26, 2024

“We fought as hard as we could,” said Kevin Sears this week when speaking about the settlement, its impact, and the need to change the media narrative.

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Housing Wire

APRIL 21, 2024

California Association of Realtors CEO John Sebree has departed the trade organization. In an announcement on Saturday, CAR said that Sebree was resigning to “pursue other opportunities. “On behalf of CAR’s leadership team and the Board of Directors, I’d like to thank John for his contributions and service as CEO and State Secretary for our organization.

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Appraisal Buzz

APRIL 25, 2024

The average rate for a 30-year fixed-rate mortgage increased to 7.17% as of April 25, up from 7.10% last week and up from 6.43% the same week one year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates continued rising this week,” says Sam Khater, chief economist for Freddie Mac, in a statement. “Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady.

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Inman

APRIL 22, 2024

Matterport's board of directors unanimously approved the deal, which will be finalized later this year. CoStar purchased its outstanding stock for $5.50 per share, reflecting a value of $1.6 billion.

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Real Estate News

APRIL 24, 2024

At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.

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Housing Wire

APRIL 26, 2024

The U.S. Department of Housing and Urban Development (HUD) on Friday announced that a proposed change to the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program has been modified to bar the practice of premium pricing, and it will only allow interested party contributions (IPCs) on H4P closing costs from property sellers, builders, real estate agents and developers.

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Real Estate Agent Development Real Estate Law 461

Appraisal Buzz

APRIL 25, 2024

Pending home sales increased 3.4% in March compared with February and were up 0.1% compared with March 2023, according to the National Association of Realtors (NAR). Regionally, the Northeast, South and West posted monthly gains in transactions while the Midwest recorded a loss. Lawrence Yun, chief economist for NAR, says pending home sales in March marked “the best performance in a year, but it still remains in a fairly narrow range over the last 12 months without a measurable breakout.

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Inman

APRIL 22, 2024

Sitzer | Burnett plaintiffs on Friday asked the court to preliminarily approve the proposed deal. Brokerages and MLSs that were left out initially will have to take action by June 18 to be covered.

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Real Estate News

APRIL 20, 2024

The Supreme Court passes on a chance to weigh in, objections pile up, and Fannie and Freddie say it’s all right to exclude commissions from seller concessions.

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Housing Wire

APRIL 24, 2024

The rental segment has been marked by strong demand and looks to continue on this trajectory given mortgage rates that continue to hover around 7% and record property prices across many U.S. regions. In spite of some slowdown, rents have continued to appreciate, being nearly 30% higher than prior to the pandemic, with February levels up 3.5% as compared to the previous year.

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Appraisal Buzz

APRIL 24, 2024

Truv , a provider of income, employment and asset verification solutions, is now integrated with BeSmartee , a provider of point-of-sale (POS) software for mortgage lenders. The integration will automate manual verification processes and transform the mortgage experience for lenders and borrowers with easier mortgage approvals, heightened data transparency and faster closings.

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Inman

APRIL 22, 2024

As the real estate industry continues to evolve, embracing the transformative potential of AI and blockchain technology to gain a competitive edge.

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Real Estate News

APRIL 24, 2024

Awards recognize residential real estate brokerage sites for excellence in website design, functionality and performance.

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Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health.

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Mortgage Marketing 443

Appraisal Buzz

APRIL 23, 2024

Mortgage delinquencies were at a rate of 3.2% as of the end of March, a decrease of 4.15% compared with February but up 9.4% compared with March 2023, according to ICE Mortgage Technology’s First Look report. As of the end of the month there were about 1.7 million residential properties 30 days or more past due but not in foreclosure, according to the report.

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Inman

APRIL 23, 2024

Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were "fair, reasonable and adequate" and set a final approval hearing for November.

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