Housing Wire
NOVEMBER 25, 2023
Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. Higher mortgage rates did push inventory higher during the seasonal period when it would normally be declining. However, seasonality tends to rule the day eventually.
Sacramento Appraisal Blog
NOVEMBER 28, 2023
It can be a REALLY bad idea to pull comps from the other side of the freeway, but not always. Today I have some thoughts about location, comp selection, and lenders freaking out when schools are mentioned in appraisal reports. UPCOMING (PUBLIC) SPEAKING GIGS: 11/30/23 Safe CU “Preparing for a Successful New Year” 12/08/23 Free […] The post Pulling comps from the other side of the freeway first appeared on Sacramento Appraisal Blog.
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Real Estate News
NOVEMBER 27, 2023
The case takes aim at NAR and local as well as national brokerages, while calling out the current system as a way to protect ineffective agents.
George Dell
NOVEMBER 29, 2023
The valuation “process” (algorithm and model) is universal. What does this mean? It means that it doesn’t matter who does it, who makes decisions, or who ‘inspects’ the property. The science is the same: Systematic study through observation and experiment. So we seek and define the systematic study. In (opinion) appraisal, it’s called the appraisal […] The post Universal Valuation Standards?
Housing Wire
NOVEMBER 28, 2023
The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% compared to the current limit of $726,200 , the Federal Housing Finance Agency (FHFA) announced Tuesday. Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. That’s because the FHFA’s conforming loan limit increase is based on a formula related to home-price data in the third quarter of each year.
Inman
NOVEMBER 27, 2023
Fidelity National Financial acknowledges that a "cybersecurity incident" disrupted the provision of title and escrow services and other technology and mortgage services.
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Eyes on Housing
NOVEMBER 28, 2023
National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro areas had positive home price appreciation in September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth.
Housing Wire
NOVEMBER 30, 2023
Mortgage rates headed lower this week as the 10-year Treasury yield dropped below 4.3% for the first time since September, according to new data from Freddie Mac. The 30-year, fixed mortgage rate averaged 7.22% for the week ending Nov. 30, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.29% and up from 6.49% the same week a year ago.
Inman
NOVEMBER 27, 2023
Estate planning is of prime importance for homeowners and their heirs. Properties are among the largest and most complex assets to be distributed — particularly when they’re luxury homes worth millions of dollars.
Real Estate News
NOVEMBER 30, 2023
A year ago, many economists forecast that rates would fall within the 5-6% range by the end of 2023, but the economy didn’t behave as expected.
Eyes on Housing
NOVEMBER 27, 2023
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the third quarter of 2023. For the quarter, 104,000 multifamily residences started construction. Of this total, 101,000 were built-for-rent. The market share of rental units of multifamily construction starts was near an all-time high of 98% for the third quarter as the.
Housing Wire
DECEMBER 1, 2023
The U.S. Department of Housing and Urban Development (HUD) on Friday published a proposal that would require public housing agencies (PHA) to provide 30 days’ notice before filing an eviction notice in court for nonpayment of rent. PHAs with tenants in public housing and owners of properties participating in HUD multifamily project-based rental assistance programs would need to provide “written notification at least 30 days” before a court filing for an eviction due to rent nonpayment.
Inman
NOVEMBER 29, 2023
Mesnick and his business partner Chris Dalto have left Compass and brought their Seattle-based luxury team, MDG Residential, to Real. Within its first year, the team closed more than $100 million in sales volume.
Real Estate News
NOVEMBER 28, 2023
Fidelity National Financial, the nation’s largest title company, coming back “office by office” as real estate agents and loan officers find low-tech solutions.
Eyes on Housing
DECEMBER 1, 2023
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.2% in October, after a dip in September. It stood at a seasonally adjusted annual pace of $884 billion. Total private residential construction spending is 0.7% higher compared to a year ago. This was the first year-over-year increase since December 2022.
Housing Wire
NOVEMBER 27, 2023
Nearly three months after filing an initial complaint accusing Gary Keller and Keller Williams of inflating key profitability metrics including company sales and profits to convince individuals to purchase Keller Williams Regions and Market Centers, John Davis has made tweaks to his lawsuit. In his initial filing, in addition to Keller and Keller Williams, Davis also names former KW president Josh Team, Business MAPS Ltd. and Business MAPS Management LLC as defendants.
Inman
NOVEMBER 27, 2023
More than a third of all home sales featured a concession in the past 3 months, according to new data and agents who told Inman that they're beginning to see signs of a buyer's market unfold.
Real Estate News
NOVEMBER 28, 2023
The 5.5% increase for 2024 “seems like a pretty good indication,” that the Federal Housing Finance Agency expects home prices to keep increasing.
Eyes on Housing
NOVEMBER 28, 2023
The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter of 2023, 65% were absorbed into the market in the first three months following completion. 83% of 3,467 condominiums completed in the second quarter were absorbed within the first three.
Housing Wire
NOVEMBER 30, 2023
Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% in October on a month-over-month basis, according to data released Thursday by the National Association of Realtors (NAR). As a result, NAR’s Pending Home Sales Index fell to a reading of 71.4, down from 72.6 in September.
Inman
NOVEMBER 29, 2023
Annual home price appreciation of 5.5 percent pushes FHA loan limits up to a minimum of $498,257 in affordable markets, and to a ceiling of up to $1.72 million in high-cost states like Alaska and Hawaii.
Real Estate News
NOVEMBER 30, 2023
Rates edged closer to the 7% mark this week, improving affordability. Coupled with a small bump in listings, that could mean more year-end sales.
GoForrmz
NOVEMBER 29, 2023
Make simple design updates to your digital form using the GoFormz Template Editor You can easily add branding, include disclaimer text, and more, by adding basic design updates to your digital form Template. Use our Page Elements feature in the Template Editor to apply simple updates and additions to your form Template’s background. (These additions will be applied to every form generated using this Template.
Housing Wire
NOVEMBER 30, 2023
Bright MLS released its National Housing Market Outlook on Wednesday, which shows that affordability will remain the biggest challenge for homebuyers next year. Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. Home sales are expected to rise, as homebuyers will have more options to choose from.
Inman
DECEMBER 1, 2023
The real estate agent and interior design pro said he was making the move because of The Agency's boutique culture. He has closed more than $300 million in sales volume during his career.
Real Estate News
NOVEMBER 29, 2023
With Homes.com in investment mode, Realtor.com and Redfin are reshaping themselves in pursuit of the top spot among home search portals, T3 Sixty experts say.
Eyes on Housing
DECEMBER 1, 2023
Pets can have a significant impact on home buying decisions for many people. According the U.S. Census Bureau, 2021 data shows that there are 63.8 million occupied housing units have at least one pet which represents almost 50% of the 128.5 million occupied housing units. A recent U.S. Bureau of Labor Statistics Consumer Expenditure Surveys examines the increase in household.
Housing Wire
NOVEMBER 28, 2023
U.S. house prices rallied again in the third quarter of 2023. In fact, home prices rose 2.1% quarter over quarter and 5.5% year over year in Q3, according to the Federal Housing Finance Agency (FHFA) House Price Index. Month over month, the FHFA’s seasonally adjusted monthly index ticked up 0.6% in September. “U.S. house price growth continued to accelerate in the third quarter, appreciating more than in each of the previous four quarters,” Anju Vajja, principal associate director in FHFA ’s div
Inman
NOVEMBER 29, 2023
The ever-evolving technology and business services company is offering an “accessible, affordable and award-winning” home insurance plan for agents to offer clients in Florida.
Real Estate News
NOVEMBER 29, 2023
"Bachelor" star Jason Mesnick takes his team to Real; Compass celeb agent expands his reach; Christie's nabs Bay Area team; Corcoran Pacific adds owners; more.
Eyes on Housing
NOVEMBER 28, 2023
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the third quarter of 2023, there were just 3,000 2- to 4-unit housing unit construction starts.
Housing Wire
DECEMBER 1, 2023
The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan. Those loan types would require a larger down payment of at least 10% of the home’s value, or $80,000, which would stretch his budget too thin. “With the latest Federal H
Inman
NOVEMBER 30, 2023
Matterport and Vacasa will be traveling a lot together in the near future. The vacation home company hired the digital twin creator in a multi-year contract to help market its global portfolio of vacation homes under management.
Real Estate News
NOVEMBER 29, 2023
Forecasts from Realtor.com and Bright MLS offer varying degrees of optimism, with a split on inventory and an eye on wild cards like inflation and the election.
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