Housing Wire
SEPTEMBER 30, 2023
Why are mortgage rates rising? This is a question many people are asking — even some of the Federal Reserve members. We have had back-to-back weeks of the bond market getting wild since the key 10-year yield level of 4.34% broke higher. It didn’t help that the Fed was hawkish after the Fed meeting , as their forward outlook surprised some market players.
Sacramento Appraisal Blog
OCTOBER 4, 2023
Ten times more housing supply!!! That’s what 2007 had compared to right now. Today I want to share a stunning supply visual for Sacramento, and talk briefly about what’s happening with sellers and prices. Enjoy if you wish. UPCOMING (PUBLIC) SPEAKING GIGS: 10/4/23 KW Sac Metro Big Market Update (register here) 10/6/23 How to Think […] The post 2007 had ten times more housing supply than today first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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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.
George Dell
OCTOBER 4, 2023
EBV (Evidence Based Valuation) principles continue to update from legacy “appraisal” practices. Here we hope to have a quick look at the upsides and downsides of EBV, compared to traditional, judgment-based “methods and techniques.” Editor’s Note: This is Standards, part 3.16 of George Dell’s series on How Do I Move to EBV? Links to the […] The post EBV Pro or Con?
Housing Wire
OCTOBER 6, 2023
In a surprising twist, the National Association of Realtors has announced a change in how interprets its Participation Rule, which requires listing brokers to provide buyer brokers an offer of compensation in order to list on the multiple listing service (MLS). While previously NAR has stated that the offer of compensation could be as little as a penny or a dollar, in a reversal of this stance, NAR is now saying that listing brokers can offer nothing and still comply with the rule, as first repo
Miller Samuel
OCTOBER 3, 2023
This webinar was held during the previous week with several hundred people in attendance - I didn't get the recording soon enough to post last Friday. Noah and John at Urban Digs invited me to talk about my approach to valuing outdoor space in NYC. I documented my approach to its valuation back on May 5, 2010 on my Matrix blog , after years of getting calls from real estate agents asking how to value them, this post was born: [Terra Logic] Understanding The Value of Manhattan Apartment Outdoor S
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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.
Housing Wire
OCTOBER 3, 2023
Mortgage rates and bond yields kept rising Tuesday as the job openings unexpectedly increased more than anticipated. But is that job openings data legit today? And will job openings continue higher, pushing mortgage rates even higher in the future? I believe today’s job openings data needs some context, but it didn’t matter to bond traders as bond yields shot up after the report.
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.
Real Estate News
OCTOBER 3, 2023
The companies announced a partnership that will allow listing agents to get offers on behalf of their sellers directly through eXp's agent dashboard.
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.
Housing Wire
OCTOBER 6, 2023
Like Anywhere Real Estate Friday morning, the terms of RE/MAX’s $55 million settlement with plaintiffs in two bombshell buyer commission lawsuits have been made public. Similar to Anywhere’s deal, the RE/MAX agreement stipulates that the firm make significant changes to what it requires of its agents and franchisees. Final court approval of the settlement is expected in early 2024.
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.
Real Estate News
OCTOBER 4, 2023
A Homes.com exec told Real Estate News that its “playbook for growth is working,” but some competitors and outside observers see the data differently.
Eyes on Housing
OCTOBER 2, 2023
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in August. It is the fourth consecutive increase since May 2023, standing at a seasonally adjusted annual pace of $879.9 billion. However, total private residential construction spending is still 3.1% lower compared to a year ago. The total construction monthly increase is attributed to more.
Housing Wire
OCTOBER 4, 2023
Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported. Purchase mortgage application volume, in particular, slowed considerably for the week ending Sept. 29, down 22% from a year ago, according to unadjusted data.
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.
Real Estate News
OCTOBER 2, 2023
In a note signed by CEO Glenn Kelman and other Redfin leaders, the company said “NAR isn’t the future.
Eyes on Housing
OCTOBER 3, 2023
Financial conditions continue to tighten, as the 10-year Treasury rate increased to above 4.75%. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth forecasts) was a surprise jump in August for the total number of open, unfilled jobs.
Housing Wire
OCTOBER 6, 2023
With 30-year fixed mortgage rates climbing to a 23-year high, the Mortgage Bankers Association (MBA) called on the Federal Reserve to bring some certainty to financial markets. “It is time, and very important for the Fed to make clear two statements — the Fed is at the end of its rate hikes; the Fed will not consider selling its mortgage-backed securities (MBS) holdings until and unless the housing finance market has stabilized and mortgage-to-Treasury spreads have normalized,” MBA president and
Inman
OCTOBER 2, 2023
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships.
Real Estate News
OCTOBER 2, 2023
This is the second time the settlement agreement reached by MLS PIN in the Massachusetts buyer-broker commissions lawsuit has come under fire.
Boston Appraisal
OCTOBER 6, 2023
While there is a myriad of financing options available for those looking to purchase or invest in real estate, today we’ll zero in on two distinct choices: hard money loans and traditional financing. This article aims to break down their key differences, and examine their unique advantages and drawbacks for different property types and borrowers.
Housing Wire
OCTOBER 6, 2023
Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable in a shrinking market.
Inman
OCTOBER 4, 2023
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.
Real Estate News
OCTOBER 4, 2023
The company says eXp Exclusives is not meant to replace MLSs, but it provides a way to work with sellers who want to keep their listings private.
Eyes on Housing
OCTOBER 4, 2023
NAHB Analysis of the Census Bureau’s Characteristics of Units in New Multifamily Buildings Completed finds that 93% of the 368,000 multifamily units completed in 2022 were built-for-rent while the remaining 7% were built-for-sale. The share of new multifamily units that are built-for-sale has remained below 10% since 2011 when the share was 12%. 2011 was also the same year that.
Housing Wire
OCTOBER 6, 2023
The honey badger labor market woke up on Friday and chose violence, biting the legs of any job recession bear it could find. The first reaction from the bond market was to shoot up bond yields and mortgage rates went higher. However, as the day progressed, bond yields decreased from the peak. What is going on with the U.S. labor market? The answer is that we are just working back to normal.
Inman
OCTOBER 3, 2023
The homeseller plaintiffs agreed to a two-month extension of deadlines related to a proposed deal with MLS PIN after the federal agency asked for time to assess the deal's "competitive impact.
Real Estate News
OCTOBER 6, 2023
The latest jobs report found that nearly twice as many jobs were added in September as expected, which could lead to even higher interest rates.
GoForrmz
OCTOBER 6, 2023
Prioritize your team’s safety with the digital lockout tagout Template As we observe National Manufacturing Day (10/6) and the extended celebration of Manufacturing Week (lasting through 10/13), we are here to shed light on the invaluable role played by digital forms in supporting and empowering production teams. While Manufacturing Day serves as a tribute to the manufacturing industry, it also carries a significant mission of engaging students and aspiring engineers in the dynamic world of manu
Housing Wire
OCTOBER 5, 2023
Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct. 5th, up 18 basis point from last week ’s 7.31%. By contrast, the 30-year fixed-rate mortgage was at 6.66% a year ago at this time.
Inman
OCTOBER 3, 2023
Opendoor is now the primary cash offer solution behind eXp's ExpressOffers platform. Agents will soon be able to request a cash offer on qualified properties directly through an eXp dashboard.
Real Estate News
OCTOBER 6, 2023
CubiCasa President Jeff Allen has a specific goal: attach a floor plan to every listing. But he also says "massive advances" in tech are coming.
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