Housing Wire
JANUARY 18, 2024
Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% as of Jan. 11, a decrease from last week’s 6.66%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.
Sacramento Appraisal Blog
JANUARY 17, 2024
The spring market is awake. Today I want to talk about some trends I’m seeing, debunk a myth, and share some super random stats involving pickleball, Starbucks, and other stuff (sorry). Haha. UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.
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Real Estate News
JANUARY 17, 2024
New York Times journalist Debra Kamin talked to Real Estate News about the response to her investigations, why her eXp story “hit differently,” and what’s next.
George Dell
JANUARY 17, 2024
“USPAP” is for credible appraisers. The underlying principle of the actual ‘standards’ and the hundreds of pages of “explanatory” material is that the appraiser’s work must be “worthy of belief.” Accuracy and precision (trueness and sureness) are never stated as a goal. Believability, in turn, is judged by the user “expectations” and if “peers” would […] The post Are Standards Credible?
Housing Wire
JANUARY 18, 2024
Lights, camera, lawsuit! A copycat commission lawsuit has been filed in Los Angeles. The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home seller, accuses the real estate industry of colluding to artificially inflate real estate agent commissions. It was filed on Wednesday in U.S. District Court in Los Angeles. Patrick Thurber, a California home seller, is an additional named plaintiff in the suit.
Inman
JANUARY 15, 2024
Kenya Burrell-VanWormer, chief growth officer at NEO, and Katherine Winston, founding member and head of marketing at Plunk, have teamed up to build a program that will provide professional mentorship for minority entrepreneurs in proptech.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Eyes on Housing
JANUARY 18, 2024
The NAHB/Westlake Royal Remodeling Market Index (RMI), a measure of sentiment among professional remodelers, for the fourth quarter posted a reading of 67, increasing two points compared to the previous quarter. Remodelers’ sentiment was quite positive at the end of 2023, when seasonally adjusted for the slowdown that invariably occurs during that part of the year.
Housing Wire
JANUARY 13, 2024
Last week, housing inventory grew and the number of price cuts fell, which is expected at this time of the year. I hope the next thing we see is housing inventory grow at the level it typically does in January or February instead of being delayed until March or April. Last year at this time, inventory rose week to week and I was hopeful for a typical spring inventory year, but the seasonal bottom didn’t actually happen until April 14.
Inman
JANUARY 15, 2024
The National Association of Realtors may be on the verge of a bigger membership decline than it's ever seen before — including during the 2008 housing crisis. Intel explores why that is.
Real Estate News
JANUARY 19, 2024
According to the latest NAR data, just 4.09 million existing home sales were reported in 2023, the lowest number in nearly three decades.
Eyes on Housing
JANUARY 19, 2024
Despite record high inflation rates, rising interest rates, and worsening housing affordability, young adults continued the post-pandemic trend of moving out of parental homes in 2022. The share of young adults ages 25-34 living with parents or parents-in-law declined and now stands at 19.1%, according to NAHB’s analysis of the 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS).
Housing Wire
JANUARY 16, 2024
Empty-nester baby boomers own roughly twice as many of the nation’s three-bedroom-plus homes as millennials with children, according to a report from Redfin published on Tuesday. The report is based on a Redfin analysis of U.S. Census data from 2022, that breaks down the share of three-bedroom-plus homes owned and occupied by each generation, by household type and size.
Inman
JANUARY 16, 2024
Ahead of Inman Connect New York 2024, Mosaik founder and CEO Sheila Reddy talks about the future of artificial intelligence and how it can revolutionize the agent experience.
Real Estate News
JANUARY 17, 2024
Home builder sentiment is up significantly in January as lower mortgage rates bring more buyers back to the market.
Eyes on Housing
JANUARY 19, 2024
Existing home sales slipped in December, ending 2023 at the lowest level since 1995, according to the National Association of Realtors (NAR). In 2023, the decline was largely attributed to worsening housing affordability and persistently low supply, exacerbated by higher interest rates. Low inventory, along with strong demand, drove the median home price to a record high of $389,800 in.
Housing Wire
JANUARY 17, 2024
Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery. Overall, mortgage applications rose by 10.4% in the week ending Jan. 12, compared to one week earlier, on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey.
Inman
JANUARY 19, 2024
Listing tour and digital twin solution iGuide has updated its suite of products with a faster, cost-efficient method for creating immersive property experiences called iGuide Instant.
Real Estate News
JANUARY 16, 2024
Baby boomer households without children own nearly 3 in 10 homes with 3+ bedrooms — millennials with children own half that amount.
Eyes on Housing
JANUARY 16, 2024
Over the first eleven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 843,654. On a year-over-year (YoY) basis, this is 8.5% below the November 2022 level of 921,626. Year-to-date ending in November, single-family permits declined in all four regions. The range of permit decline spanned 6.8% in the South to 12.6% in the West.
Housing Wire
JANUARY 17, 2024
New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels.
Inman
JANUARY 19, 2024
Senior housing expert Rachael Hite shares data around seniors, aging in place, downsizing and the real cost of retirement. Housing experts predicting a "Silver Tsunami" are underestimating what boomers actually want.
Real Estate News
JANUARY 19, 2024
The latest filing focuses on the Northeastern part of California and takes aim at MetroList MLS as well as multiple associations and brokerages.
Appraiserblogs
JANUARY 16, 2024
Appraisal reviews for $3 each and 1-2 hour turn times. It’s hard to imagine any appraiser accepting these terms, and it’s hard to imagine any lending institution accepting these as valid reviews. It’s incredibly disrespectful to the profession as they tout efficiency. This is Sean from Reckon Data Solutions, LLC, and I’m reaching out to discuss a potential partnership opportunity that could complement your company’s objectives.
Housing Wire
JANUARY 17, 2024
Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD. Sitting for a HUD oversight hearing conducted by the U.S.
Inman
JANUARY 18, 2024
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
Real Estate News
JANUARY 18, 2024
The latest case, which focuses on Los Angeles, lists 35 defendants including the largest MLS in the U.S., major brokerages and two dozen associations.
Appraiserblogs
JANUARY 17, 2024
It wants to bootstrap released felons by allowing them to work as so-called “fair-housing testers” for the many nonprofits HUD provides grants to… If the rule is changed, the HUD-subsidized nonprofits could hire felons to ramp up sting operations against real estate brokers, leasing agents, mortgage loan officers, escrow officers, title officers, appraisers, property managers and others.
Housing Wire
JANUARY 17, 2024
Did you know that in 2022, both younger and older Baby Boomers made up the largest generation of American homebuyers? This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! 1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. 2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rat
Inman
JANUARY 18, 2024
As many as 80 percent of agents are using AI to do things like write listing descriptions, but real estate leaders also have concerns about "guardrails" for the tech.
Real Estate News
JANUARY 18, 2024
Lower rates are good news for buyers, but increased demand could further erode limited inventory.
GoForrmz
JANUARY 19, 2024
Try these top five features to transform your manufacturing processes In today’s world of manufacturing, every second counts. Businesses are leaving traditional paperwork behind and looking for more effective processes. And that’s where GoFormz comes in! GoFormz provides digital forms that are powered by a suite of features, modernizing the way the world collects information.
Housing Wire
JANUARY 18, 2024
The city of Laguna Beach, Calif. recently offered details of its city-sponsored aging-in-place program, dubbed “Lifelong Laguna,” in a profile published by CNBC. It provides new insight into the measures cities can explore to more easily facilitate aging-in-place goals for older residents. 2021 research from AARP indicates that 77% of adults at or over the age of 50 want to stay in their homes as they get older, but the figure in Laguna Beach is much higher.
Inman
JANUARY 17, 2024
The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association.
Real Estate News
JANUARY 15, 2024
As organized real estate grapples with game-changing court cases and turmoil at the top, MLS execs are movin’ on up in the 2024 Swanepoel Power 200.
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