Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. 2022 was a historic year for housing as we had the most significant home sales crash ever, and mortgage r

Mortgage 533

Mortgage Inventory New Listings Sellers 533

Sacramento Appraisal Blog

DECEMBER 13, 2023

The housing market pretty much sucked this year for so many real estate professionals. Look, it’s easy to feel like God’s gift to real estate when business is flying off the shelves, but it’s tough when the transaction faucet gets turned off. The truth is everyone feels like an expert when things are good, but […] The post The housing market sucks, but experts can thrive first appeared on Sacramento Appraisal Blog.

Housing Market 376

Housing Market Marketing Real Estate Appraisal 376

Real Estate News

DECEMBER 15, 2023

Five women told the Times that it took a lawsuit to get action on predatory behavior. A second lawsuit has been filed. eXp says it let “bad actors” go.

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George Dell

DECEMBER 13, 2023

The education question — what is more important? The content of appraiser training, or how it is delivered? Appraiser education “marketability” is similar to appraisal marketing itself. Buyers of appraisals and buyers of appraisal education judge by three things: Cheap; Fast; Good. “Pick any two” says David Towne in his graphic. Anyone can provide classes. […] The post Education: Delivery or Content?

Training 195

Training Appraisal Buyers Marketing 195

Housing Wire

DECEMBER 13, 2023

The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of the year on Wednesday. It was the fourth pause recorded in 2023. Investors will parse Jerome Powell’s press conference this afternoon for clues about when and why the central bank might change its policy stance next year.

Mortgage 522

Mortgage Sellers Investors Marketing 522

Inman

DECEMBER 11, 2023

When it comes to marketing high-end homes, it pays to think like an ad firm. That means knowing your target audience, using themes they’ll understand, and finding ways to creatively defy convention.

Marketing 207

Marketing 207

Eyes on Housing

DECEMBER 13, 2023

The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target rate of 5.5% at the conclusion of its December meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization. Marking a third consecutive meeting holding the federal funds rate.

Mortgage 187

Mortgage 187

Housing Wire

DECEMBER 12, 2023

Today’s inflation reports show that Federal Reserve rate cuts are in play in 2024 — not because of the labor market breaking, but because real rates are too high. If the labor market gets weaker, meaning jobless claims break over 323,000 on the four-week moving average, we can get even more rate cuts. The labor market is not there yet so for now we can focus on the fact that the Fed overhiked, and because of that, they have room to cut.

Real Estate 491

Real Estate Marketing Mortgage 491

Inman

DECEMBER 13, 2023

Luring high-income renters into homeownership will only become more challenging as costs stay high, according to experts and a survey of US consumers conducted by Dig Insights and Inman.

Brokerage 198

Brokerage Agents Marketing 198

Real Estate News

DECEMBER 12, 2023

Economists were optimistic about the year ahead, but noted that inflation and mortgage rates will be key factors.

Mortgage 315

Mortgage 315

The Appraiser Coach

DECEMBER 12, 2023

During my mastermind meetings we have what we call “couch time.” This is the time when people have an hour to “lay down on the couch” and tell us about their problems so that we can help them find solutions. During one of these sessions with my online mastermind class, one of the guys in attendance said something that really stuck with me. “If you don’t hire an assistant, you ARE the assistant.

Appraisal 150

Appraisal Inspection Advertising Real Estate Agent 150

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down from last week’s 7.03% and up from 6.31% the same week a year ago.

Mortgage 485

Mortgage New Listings Loan Officers Inventory 485

Inman

DECEMBER 12, 2023

Public nominations are now open in four awards categories for 2024, including a slate of new honors designed to spotlight achievements in artificial intelligence and recognize real estate's emerging leaders.

Design 197

Design Real Estate Finance Technology 197

Real Estate News

DECEMBER 12, 2023

While high borrowing costs brought the market to a halt in 2023, there are signs that mortgage rate relief is coming in 2024.

Mortgage 299

Mortgage Marketing 299

Eyes on Housing

DECEMBER 15, 2023

Over the first ten months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 773,526. On a year-over-year (YoY) basis, this is 10.7% below the October 2022 level of 865,815. Year-to-date ending in October, single-family permits declined in all four regions. The range of permit decline spanned 8.6% in the Northeast to 16.1% in the West.

Construction 174

Construction Marketing 174

Housing Wire

DECEMBER 15, 2023

As the saying goes, everything is bigger in Texas. A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commissions. This is the second commission lawsuit filed in the Lone Star State since a Missouri jury found the real estate industry liable for colluding to inflate agent commissions in late October.

Real Estate 473

Real Estate Realtors Realty Real Estate Agent 473

Inman

DECEMBER 15, 2023

The suit accuses now-former eXp agents of sexually assaulting a woman and claims eXp failed to stop the "abhorrent behavior." It follows a similar case that began in February.

Agents 190

Agents Realty Brokerage 190

Real Estate News

DECEMBER 12, 2023

The Massachusetts attorney general claimed the "buy-before-you-sell" company targeted financially strained homeowners through its sale-leaseback program.

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Eyes on Housing

DECEMBER 13, 2023

Per the Mortgage Bankers Association’s (MBA) survey through the week ending December 8th, total mortgage activity increased 7.4% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate fell 10 basis points to 7.07%. The FRM rate has decreased by 54 basis points over the past month.

Mortgage 174

Mortgage Marketing Lending Finance 174

Housing Wire

DECEMBER 15, 2023

After two straight years of double-digit declines, home sales will pick up in 2024 thanks to lower mortgage rates. This is according to NAR Chief Economist Lawrence Yun, who shared a presentation of his 2024 forecast on Tuesday. While the past two years have been challenging to say the least for prospective homebuyers , homeowners have been reaping the fruits of their investments, as home prices steadily appreciated for the past three years.

Sellers 473

Sellers Buyers Mortgage Investing 473

Inman

DECEMBER 15, 2023

As we all gear up to welcome 2024, Inman Connect New York is excited to offer you the opportunity to gain new insights, build new connections, and learn new skills that will help you set a new vision and plan for the year ahead.

Brokerage 188

Brokerage Agents 188

Real Estate News

DECEMBER 9, 2023

RE/MAX adds 120 agents through two affiliations; Real takes on Kansas City; CB Warburg promotes COO; C21 gains firm in Illinois; The Agency opens in Boulder.

Brokerage 257

Brokerage Agents 257

Eyes on Housing

DECEMBER 13, 2023

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) increased 0.2% in November after declining 0.4% in October (revised, not seasonally adjusted). The index has increased 0.8% (NSA), year-to-date, marking the smallest YTD gain through November since it fell 0.2% over the first 11 months of 2019.

Construction 173

Construction Retail 173

Housing Wire

DECEMBER 13, 2023

As 2023 draws to a close, housing professionals hope for relief from the high mortgage rates, terrible inventory levels and slow sales that characterized the year. They may find that relief for mortgage rates next year, according to forecasts from various industry experts compiled by HousingWire. Sales, however, may see only mild improvement in the year ahead, while prices will remain more or less historically high, the forecasters believe.

Inventory 466

Inventory Construction Mortgage Buyers 466

Inman

DECEMBER 11, 2023

How do you build a brand that can withstand intense client scrutiny in the wake of the Sitzer | Burnett ruling? Agents should make four key pivots to rise above the chaos.

Agents 187

Agents Clients 187

Real Estate News

DECEMBER 9, 2023

After becoming CEO of the nation’s largest independent brokerage, Hoby Hanna limited access to some listings. Expanding that approach is the table for 2024.

Brokerage 258

Brokerage 258

Eyes on Housing

DECEMBER 12, 2023

Consumer prices rose slightly in November, with a decline in the gasoline index being offset by an increase in the shelter index. The ongoing slowdown in inflation increases the probability that the Fed is done increasing rates. However, even after peaking in March this year, shelter costs continued to put upward pressure on inflation, accounting for nearly 70% of the.

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Housing Wire

DECEMBER 12, 2023

The copycat commission lawsuits have made it to the West Coast. A home seller plaintiff in California filed an antitrust lawsuit on Friday in U.S. District Court for Northern California, accusing the real estate industry of colluding to artificially inflate real estate agent commissions. The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent.

Realtors 450

Realtors Sellers Buyers Real Estate 450

Inman

DECEMBER 13, 2023

As part of his Snapshot series, Brandon Doyle profiles speaker, coach and consultant Sean Carpenter to find out how he brings fun and enthusiasm to his real estate journey.

Real Estate 187

Real Estate Agents 187

Real Estate News

DECEMBER 11, 2023

After a tumultuous year for NAR and the industry, membership in the nation's largest trade organization is headed for its first yearly drop in over a decade.

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Eyes on Housing

DECEMBER 11, 2023

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.99 trillion (seasonally adjusted annual rate) in October, an increase of $5.1 billion over the month and $146.7 billion—or 3.0%–higher than October 2022. The monthly increase resulted from revolving and nonrevolving credit outstanding gaining 0.2% and 0.1%, respectively.

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Housing Wire

DECEMBER 13, 2023

Top U.S. mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. The initiative includes three new exclusive rates – 5.749% paying 1.5 points, 5.999% paying 2 points and 6.249% paying 2.5 points – on FHA and VA refinances available to brokers until Jan. 31, 2024.

Government 446

Government Mortgage Clients Investing 446

Inman

DECEMBER 14, 2023

If you don't ask your buyers the right questions, writes broker associate Cara Ameer, before you travel too far down the road with them, you could end up wasting their time and yours.

Buyers 184

Buyers Agents Marketing 184

Real Estate News

DECEMBER 13, 2023

COO Greg Hart to leave Compass as company eliminates role; Collabra Technology taps Scott Feldman as chief revenue officer; CMLS names board members.

Technology 247

Technology 247