Sat.Apr 06, 2024 - Fri.Apr 12, 2024

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Gen X is already looking for housing appropriate for aging in place

Housing Wire

Baby boomers are exhibiting an overwhelming desire to age in place in their own homes, but their children — largely members of Generation X — are also making their desires felt by seeking out homes that can accommodate their needs as they get older, according to a recent report from the New York Times. Citing 2021 data from the Harvard University Joint Center for Housing Studies that showed 88% of adults 65 and older are aging in place, many members of the following generation — primarily born b

Buyers 511
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Revolutionizing Appraisals: The Role of Blockchain Technology

Appraisal Buzz

The Dawn of a New Appraisal Era In the ever-evolving realm of technology, few innovations have garnered as much attention and promise as blockchain. Originally conceived as the underlying foundation for cryptocurrencies, blockchain’s potential extends far beyond digital currencies. One of its most intriguing applications lies in the domain of appraisals.

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Wait, so rates aren’t going down now?

Sacramento Appraisal Blog

It’s been a pretty normal spring season so far, but if mortgage rates keep ticking up, that’s an x-factor in changing the feel of the market. Today, I have a big market update. This post is designed to skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 4/11/24 Lindsay Carlisle Event (private) 4/25/24 HomeSmart iCare […] The post Wait, so rates aren’t going down now?

Design 372
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How are agents paid? Don’t ask buyers

Real Estate News

More than a quarter of consumers surveyed by Redfin don’t know how much their agent was paid, while nearly 20% weren’t sure who provided the compensation.

Agents 335
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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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Rural America is losing affordable housing at a crisis pace

Housing Wire

The lack of affordable housing in the United States is well-documented in the nation’s urban markets, where it is contributing to the swelling ranks of the homeless. That same dire need for affordable housing for the least prosperous among us, however, also is a serious problem in rural America — home to nearly 70 million Americans. The U.S. Department of Agriculture (USDA) administers one of the main programs providing housing for low-income households in the rural stretches of this country — w

Tenants 511

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Inflation Stays Hot as Housing Cost Growth Persists

Eyes on Housing

Consumer prices continued to rise in March, with shelter and gasoline prices driving over half of the total increase. This marks the third consecutive strong reading. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over 60% of the total increase in all items excluding food.

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Investors feeling optimistic, buying record share of homes

Real Estate News

A pair of new reports look at the role investors played in the housing market last year and offer insights into their current outlook and pain points.

Investors 318
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How the CPI data took one Fed rate cut off the table for 2024 

Housing Wire

Mortgage rates shot up today as the CPI data came in just a bit hotter today — 0.1% more than estimates on a month-to-month basis. That’s not much, but it’s high enough to take away one of the rate cuts we expected in 2024. I view rate-cut pricing being tied more to the 2-year yield than the 10-year yield. Today, we saw a noticeable bounce in the 2-year yield.

Insurance 497
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Fannie Mae: Consumers are ‘Adjusting Their Expectations for the Housing Market’

Appraisal Buzz

The percentage of U.S. consumers who say it is a good time to buy a home increased to 21% in March, up from 19% in February, indicating that they may be “adjusting their expectations for the housing market,” according to Fannie Mae’s most recent Home Purchase Sentiment Index report. There is, however, growing pessimism toward mortgage rates: Thirty-four percent of consumers believe mortgage rates will go up over the next 12 months, up from 32% in February, while only 29% of say they believe rate

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Single-family home sales to investors hit all-time high

Inman

United States property investors are putting the pedal to the metal and feeling optimistic despite a turbulent housing market.

Investors 207
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Buyers are adjusting to a higher-rate environment

Real Estate News

While consumers are feeling less enthusiastic about the direction of mortgage rates, they “appear to be moving past the hurdle of last year’s sharp jump.

Buyers 306
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Now unshackled, the DOJ casts a large shadow over the commission lawsuit settlement

Housing Wire

Many real estate executives and analysts believe that the Department of Justice , now with the green light to reopen its investigation into the National Association of Realtors , will shake up the civil commission lawsuit settlement agreement. But legal experts are not as certain. Now unshackled , the DOJ could file a statement on interest in the Sitzer/Burnett commission lawsuit and express concerns about the terms of NAR’s settlement agreement.

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Fannie Mae Selling Pools of Deeply Delinquent Loans

Appraisal Buzz

Fannie Mae is selling a pool of approximately 1,205 deeply delinquent mortgages totaling $221.9 million in unpaid principal balance (UPB) and a community impact pool (CIP) totaling approximately 52 deeply delinquent loans totaling $14.5 million in UPB. The CIP consists of loans geographically located in the New York area. CIPs are typically smaller pools of loans that are geographically focused and marketed to encourage participation by non-profit organizations, minority- and women-owned busines

Investors 363
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Building Material Prices Continue to Rise in March

Eyes on Housing

Inputs to residential construction, goods less food and energy, increased for the fifth straight month, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction.

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Real Brokerage makes $9.25 million deal to settle commissions suit

Real Estate News

The company reached the agreement in the Umpa case, the only major class action involving agent pay to name Real as a defendant.

Brokerage 301
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What will happen to home prices with more inventory?

Housing Wire

With the Easter holiday last week, data for housing inventory , new listings and the pace of new contracts started all took a breather from their growth pace. Each of those notched down from a week ago and compared to a year ago. This is a holiday effect and it should all be reversed back onto the year’s growth trend by next Monday’s report. Here’s how 2024 is shaping up: There are now more listings, more active inventory and more sales than a year ago.

Inventory 493
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Optimal Blue: Average Homebuyer Credit Score Hit 737 in March

Appraisal Buzz

The average homebuyer credit score reached 737 in March, according to Optimal Blue’s Originations Market Monitor report. That’s an all-time high for the report, which was launched in 2018. The average credit score increase indicates that homebuyers are working harder on their credit scores in response to higher mortgage rates, tighter credit availability and stricter lending standards.

Lending 354
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Hot inflation data sends mortgage rates to new 2024 highs

Inman

Bond market investors who fund most mortgage loans are increasingly convinced the latest inflation numbers mean the Federal Reserve won't cut rates in June.

Mortgage 200
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Consumer group predicts 20-30% drop in commissions

Real Estate News

The NAR settlement will lead to better service and lower costs for homebuyers, new research from the Consumer Federation of America suggests.

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Housing inventory fell last week, but it won’t derail the spring bump

Housing Wire

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. So, the fact that active inventory and new listings data fell last week isn’t a big deal. Although I expect some of the weekly data to rebound next week as a result, growth in active and new listings is still trending slower than I thought would happen in 2024.

Inventory 493
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Mortgage Applications Basically Flat as Average Rate for 30-Year Rises Back to 7 Percent

Appraisal Buzz

Mortgage application volume inched up 0.1% on an adjusted basis during the week ended April 5, as the average rate for a 30-year mortgage increased to 7.01%, up from 6.91% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 10% compared with the previous week – which included the Easter holiday – and were up 4% compared with the same week one year ago.

Mortgage 352
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Judges decline to ‘centralize’ commission lawsuits for now

Inman

A panel of judges considering whether to consolidate real estate commission lawsuits into one cited the recent NAR settlement as a reason to deny the request.

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Lawsuits over KW profit-sharing changes continue to multiply

Real Estate News

At least seven complaints have been filed by former Keller Williams agents over reductions set to take effect on July 1.

Agents 292
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Insurance companies rely on aerial images to ditch risky properties 

Housing Wire

Insurance companies are leveraging aerial images of homes to drop properties deemed too risky, according to a report by The Wall Street Journal. Consumer advocates are concerned that customers are not always able to challenge images that could be out of date or inaccurate. The increased use of aerial images also comes at a time when many home insurance carriers nationwide try to offload some risk from their property portfolios, sometimes leaving states altogether to recover from big underwritin

Insurance 488
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ATTOM: Foreclosure Filings Increased 3 Percent in Q1 

Appraisal Buzz

There were 95,349 foreclosure filings on U.S. properties in the first quarter, an increase of 3% compared with the fourth quarter but down less than 1% compared with the first quarter of 2023, according to ATTOM. Looking just at March, there were 32,878 foreclosure filings during the month, down less than 1% compared with February and down 10% compared with March 2023.

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30 listing lead generation ideas for a post-NAR settlement market

Inman

If you want to build the listing side of your business in the wake of the NAR settlement, Jimmy Burgess has 30 practical, actionable, doable strategies tailor-made for this moment.

Marketing 199
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Judges rule against merging commissions copycats — for now

Real Estate News

The ruling leaves open the possibility of consolidation after settlements have concluded. But in the meantime, cases that had been on pause can move forward.

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Dream of homeownership feels unattainable to many Americans: Redfin

Housing Wire

The ongoing lack of housing affordability is prompting more renters to doubt their ability to become homeowners. According to a recent Redfin survey , nearly 40% of U.S. renters don’t believe in their ability to ever own a home, up from roughly 27% less than a year ago. While lack of affordability is the dominant reason for renters to believe they’re unlikely to become homeowners, nearly half of renters feel that available homes are too expensive.

Mortgage 486
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Ginnie Mae Now Includes Pool Level Data in HMBS Program

Appraisal Buzz

Ginnie Mae has further expanded its low-to-moderate income (LMI) disclosure initiative to include pool-level data for its home equity conversion mortgage (HECM) mortgage-backed securities (HMBS) program. Ginnie Mae’s new HMBS LMI disclosures cover active loans pooled from 2012 through the present time, the firm says in a release. This expansion continues Ginnie Mae’s work to enhance its securities disclosures, which began three years ago.

Investors 195
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United Wholesale Mortgage defends its business practices

Inman

Citing recent court victories, UWM says, "It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.

Business 198
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Brokerage Beat: News from Real, The Agency, ERA, eXp

Real Estate News

More than a dozen new offices for Real; The Agency expands in Texas and The Hamptons; ERA adds family-owned Colorado affiliate; Briko and iList join eXp.

Brokerage 273
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Rocket launches patented AI-driven tech platform

Housing Wire

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims. The launch is part of the decision of its parent firm, Rocket Companies, to put AI at the center of its business strategy.

Clients 487