Housing Wire
OCTOBER 21, 2023
The haunted house ride with the bond market and mortgage rates continued this week, but one housing data line hasn’t been spooked. New listing data appears unafraid of the mortgage rate ghost story over the last few months. Unlike last year, when new listings data had a noticeable move lower once mortgage rates reached 6%, 8% mortgage rates haven’t had any noticeable impact on the latest new listings data.
Sacramento Appraisal Blog
OCTOBER 26, 2023
You will either love it or hate it. This owner transformed a tract home built in 2002 into something with serious Midtown modern vibes. When I saw this house, I knew I wanted to write about it, and I think there are some great conversation nuggets. How do we value something when it has really […] The post Making a modern home from a tract home first appeared on Sacramento Appraisal Blog.
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Real Estate News
OCTOBER 21, 2023
Defendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.
George Dell
OCTOBER 25, 2023
We’re gonna crash! Now What? An appraiser’s job is to reflect the market. A couple of questions: What is “the” market? And how do I reflect? I like to divide consumer behavior into two thought patterns: Micro and Macro thinking. Micro thinking is under the assumption that the buyer is buying for personal use – […] The post Market Crash Adjustment?
Housing Wire
OCTOBER 27, 2023
To many, homebuying is a daunting, often confusing process. Admittedly, the myriad of documents requiring signatures can be overwhelming, especially for first-time homebuyers. Thankfully, there are a number of online resources that can help homebuyers navigate the process. The American Land Title Association, alongside our real estate industry partners, are committed to making transactions easier for everyone through consumer education efforts.
Inman
OCTOBER 25, 2023
On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.
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Eyes on Housing
OCTOBER 27, 2023
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in September. The pace of personal income growth slowed after reaching a 1% monthly gain in January 2023. Gains in personal income are largely driven by increases in wages and salaries. With spending increasing faster than personal income, the September personal savings.
Housing Wire
OCTOBER 27, 2023
As the trial of Burnett v. the National Association of Realtors (NAR), et al kicked off this week in a Kansas City, Missouri, federal courtroom, there is a lot at stake for consumers and business competition. Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. In reality, consumers are better off and business competition thrives very much because of NAR’s rules and how well local Multiple Listing Service (MLS) broker
Inman
OCTOBER 25, 2023
First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.
Real Estate News
OCTOBER 24, 2023
There’s been no shortage of news — and challenges — in the past 12 months. But real estate pros keep finding ways to win, and we’re proud to tell their stories.
Eyes on Housing
OCTOBER 25, 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash share of new home sales climbed substantially in the third quarter of 2023 while VA-backed sales share fell by nearly half. Additionally, the median purchase price of homes bought with cash surged by one-third over the quarter.
Housing Wire
OCTOBER 23, 2023
While the mortgage delinquency rate remains low compared to pre-pandemic levels , the number of delinquent loans ticked up in September, according to the ICE Mortgage Monitor report. The national delinquency rate climbed to 3.29% in September, which is up 12 basis points from August and up 13 basis points from September 2022. This makes it the second and largest annual increase in the last 2.5 years, however, the delinquency rate remains 71 basis points below the pre-pandemic level of September
Inman
OCTOBER 26, 2023
RESAAS’s data provisioning and market insight tools address a wide array of needs in multiple real estate business centers. It's known especially for its MLS and brokerage communication modules.
Real Estate News
OCTOBER 23, 2023
A former NAR committee member called traditional compensation practices “the ultimate form of restraint of trade,” claiming that NAR looked the other way.
Eyes on Housing
OCTOBER 26, 2023
The U.S. economy had remarkable growth in the third quarter of 2023, fueled by consumer spending. The GDP price index rose 3.5% for the third quarter, up from a 1.7% increase in the second quarter. The Personal Consumption Expenditures (PCE) Price Index, capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior, rose.
Housing Wire
OCTOBER 26, 2023
Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. 26.
Inman
OCTOBER 23, 2023
For the past three years, luxury buyers have been on the move. Increased opportunities to work remotely — and, by extension, live remotely — have enabled them to embrace new lifestyles or seek a higher quality of life, whether that means exploring regions and markets with better weather, lower costs, or a more relaxed pace.
Real Estate News
OCTOBER 26, 2023
The defense in Sitzer/Burnett called on three experts to discuss the consequences of decoupling commissions, with one facing aggressive cross-examination.
GoForrmz
OCTOBER 27, 2023
Originally published on 11/10/2015 Did you know about the GoFormz-Zapier partnership? In 2015, we joined forces with Zapier, the leading web automation platform enabling businesses to seamlessly link with numerous top web services. In today's modern world, companies heavily rely on a multitude of web services for diverse aspects of their operations, including billing, project tracking, and CRM functionalities.
Housing Wire
OCTOBER 25, 2023
With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” Joel Kan, MBA’s vice president and deputy chief economist, said.
Inman
OCTOBER 27, 2023
Rick Geha Team founder Rick Geha suddenly passed away one week after eXp's annual conference in Las Vegas. The Geha family is honoring the late agent's memory with a $100,000 fundraiser for the Oakland A's Make-A-Wish Community Fund.
Real Estate News
OCTOBER 26, 2023
After big declines in August, sales recovered slightly, but “pending contracts remain at historically low levels,” NAR Chief Economist Lawrence Yun noted.
Eyes on Housing
OCTOBER 26, 2023
Housing’s share of the economy remained at 15.9% at the end of the third quarter of 2023. Overall GDP increased at a 4.9% annual rate, following a 2.1% increase in the second quarter of 2023 and 2.2% increase in the first quarter of 2023. Housing’s share of GDP remained at 15.9% for the third consecutive quarter in 2023. In the.
Housing Wire
OCTOBER 23, 2023
While rent prices remain elevated compared to pre-pandemic levels, the median asking rent price fell $29 from the July 2022 peak, to $1,747, according to Realtor.com. “As rents ease and both home prices and mortgage rates continue to climb, it’s become more economical to rent than to buy in nearly all major markets,” Danielle Hale, chief economist at Realtor.com said in a statement.
Inman
OCTOBER 24, 2023
CoStar Group earned $625 million in Q3, clinching its 50th consecutive quarter of revenue gains. The company also highlighted a 1,290 percent annual growth in Homes.com traffic.
Real Estate News
OCTOBER 24, 2023
In its Q3 earnings report, the company highlighted its $1.6B in revenue, debt reduction, and a settlement that “puts significant litigation behind us.
Eyes on Housing
OCTOBER 23, 2023
Despite mortgage rates topping 7%, Americans persist in their desire to buy a home. According to the latest Housing Trends Report*, the share of adults with plans to purchase a home within a year edged up to 17% in the third quarter of 2023, up from 15% a quarter earlier. The share has fluctuated up and down without a clear.
Housing Wire
OCTOBER 25, 2023
With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. Buyers that did manage to purchase homes made higher down payments as home-price growth remained stubbornly elevated in Q3, according to a new report from LenderLogix. The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers.
Inman
OCTOBER 25, 2023
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial.
Real Estate News
OCTOBER 27, 2023
As brokerage firms vie to keep their top producers and boost agent counts, some are offering new benefits, including healthcare, to stay competitive.
Appraiserblogs
OCTOBER 23, 2023
It was my experience that the majority of reviewers, FNMA included, had very limited field experience. Which is painfully obvious when they request baseless revisions for “more or better comps”. I’m a Certified General Appraiser that started appraising in 1984, almost 40 years ago! Spent the majority of my career appraising both residential and commercial properties in a major metropolitan market.
Housing Wire
OCTOBER 25, 2023
For nearly 30 years, Deion Sanders has been a recognizable name in the sports world. He’s made headlines again this summer after being named the new head football coach at the University of Colorado Boulder and subsequently undergoing a roster overhaul that resulted in the departure of 81% of last year’s roster. A majority of the exits were made after Sanders and the coaching staff audited the roster and determined it wasn’t optimized for the desired productivity and results.
Inman
OCTOBER 25, 2023
Loan applications slipped to lowest level since 1995 as mortgage rates climb for the seventh week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association.
Real Estate News
OCTOBER 23, 2023
Thad Fisher, former eXp, Anywhere and Zillow leader, joins KW's Livian platform; Christian Wallace named first chief of integrated home services at Real.
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