Housing Wire
FEBRUARY 16, 2024
Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday , with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB.
Cleveland Appraisal Blog
FEBRUARY 16, 2024
It’s been a while since I’ve written an article. I miss writing and I miss you! So, first of all, thank you for being here to read articles from my blog! I’ve relied heavily on guest bloggers for a while, and so I’d like to also thank all of my guest bloggers who have provided meaningful content. I know most of my readers are interested in appraisal and real estate-related topics.
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Real Estate News
FEBRUARY 15, 2024
A statement of interest filed late Thursday by the Department of Justice savages the proposed MLS PIN settlement, and calls out MLSs for limiting competition.
Inman
FEBRUARY 16, 2024
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
Housing Wire
FEBRUARY 13, 2024
In January, the number of properties with a foreclosure filing inched up on both a monthly and a yearly basis, according to a report released Tuesday by Attom Data. In total, 33,270 U.S. properties received a default notice, were scheduled for auction or were undergoing bank repossession last month, up 10% from December and up 5% compared to a year ago.
Eyes on Housing
FEBRUARY 12, 2024
The median age of owner-occupied homes is 40 years old, according to the latest data from the 2022 American Community Survey[1]. The U.S. owner-occupied housing stock is aging rapidly especially after the Great Recession, as the residential construction continues to fall behind in the number of new homes built. New home construction faces headwinds such as rising material costs, labor.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
FEBRUARY 15, 2024
Broker and reality television legend Ryan Serhant headlines an all-star roster of the industry's most compelling voices for the second-annual Inman Global Real Estate Influencers program.
Housing Wire
FEBRUARY 10, 2024
So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year.
Eyes on Housing
FEBRUARY 13, 2024
Consumer prices picked up again in January while core prices remained elevated, especially housing costs. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over two-thirds of the total increase in all items excluding food and energy. This hotter-than-expected report will almost certainly delay Fed rate cuts until the second half.
Real Estate News
FEBRUARY 16, 2024
A Wall Street Journal story portrays the National Association of Realtors as inflexible in the face of legal challenges to the industry’s commission structure.
Inman
FEBRUARY 16, 2024
Loan applications for new-home purchases were up 19 percent from a year ago in January, according to an MBA survey of builders that's been an accurate predictor of trends.
Housing Wire
FEBRUARY 15, 2024
Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. More than 80% of survey respondents said they know what an escrow account is and its primary purpose — to pay property taxes and other expenses, such as homeowners insurance , flood insurance and mortgage insurance premiums.
Eyes on Housing
FEBRUARY 16, 2024
The latest Producer Price Index, reported by U.S. Bureau of Labor Statistics, indicated that inputs to residential construction, goods less foods and energy (residential building materials, not seasonally adjusted) increased 1.28% between December 2023 and January 2024. This was the largest monthly change for the index since March of 2022, when it increased by 2.07%.
Real Estate News
FEBRUARY 13, 2024
While still posting a net loss, the company reported higher-than-expected revenue from its residential and rental businesses as Premier Agent held steady.
Inman
FEBRUARY 14, 2024
Lenders won't be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers.
Housing Wire
FEBRUARY 12, 2024
The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. Loan volume between the third and fourth quarters declined by 21%, but that was far less than the 37% drop from Q3 2022 to Q4 2022, the report showed.
Appraiserblogs
FEBRUARY 15, 2024
Fannie Mae and Freddie Mac have issued a clarion call to all appraisers to pitch in and help build the gallows from which they will hang us all in 2025. The mission is to “modernize” the appraisal profession into a skeleton crew of compliant zombies who will be rubber stamping appraisal reports for $25 each (Source: Voice of Appraisal) from the dark confines of their private offices.
Real Estate News
FEBRUARY 13, 2024
Commissions lawsuits could accelerate consolidation and evolution — and save agents money, according to a new report on MLSs and Realtor associations.
Inman
FEBRUARY 16, 2024
The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly.
Housing Wire
FEBRUARY 16, 2024
On average, members of the baby boomer generation saved approximately $4,060 over the course of 2023, lagging behind the average savings levels of every other surveyed generation. This is according to the newest edition of the “Wealth Watch” survey conducted by New York Life Insurance Co. By comparison, millennials (ages 28 to 43 last year) led all age groups with an average savings of about $9,300.
Boston Appraisal
FEBRUARY 11, 2024
Introduction Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions.
Real Estate News
FEBRUARY 16, 2024
While overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.
Inman
FEBRUARY 13, 2024
Mollie Poe and Declan Hickey were founding members of Compass San Francisco before leaving in 2020. Now, they're bringing four additional team members back to Compass with them.
Housing Wire
FEBRUARY 15, 2024
The preference that older Americans have for aging in place in their own homes is showing up in broader trend data, according to a new report from Redfin. While “homeowner tenure” has fallen slightly since its 2020 peak, the length of time that homeowners are remaining in their properties doubled to 11.9 years last year, up from 6.5 years in 2005, according to a Redfin analysis of median U.S. homeowner tenure by year using county records.
DW Slater Company
FEBRUARY 13, 2024
Love in Real Estate I’m I wrote this blog – 4 Things I Love About Being a Real Estate Appraiser- 10 years ago! So much has changed since that time! We have experienced some very large swings in the market regarding the number of appraisals needed from a very high volume where appraisers couldn’t keep up, to the now very low volume of appraisal requests.
Real Estate News
FEBRUARY 11, 2024
Frank Malpica to lead franchise development at ERA; Joseph Lenz joins Anywhere board; Bryan Hutchinson takes on CEO role at OAR; Justin Landon to helm MetroTex.
Inman
FEBRUARY 16, 2024
The Federal Reserve's policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.
Housing Wire
FEBRUARY 13, 2024
Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. As a point of comparison, in the benchmark year of 2019, 31,000 new homes were purchased in the top 50 master planned communities.
BiggerPockets
FEBRUARY 13, 2024
Now that hundreds of cities and towns across the country are moving to ban or limit short-term rentals, investors who used to make bank off these properties have to readjust their strategies to stay in the game. Here's one way that they're doing it—and it's proving to be just as lucrative.
Real Estate News
FEBRUARY 14, 2024
CEO Rich Barton was bullish despite the challenging housing market, predicting double-digit revenue growth this year during a Feb. 13 earnings call.
Inman
FEBRUARY 12, 2024
Brokerage leaders are still waiting to see the returns on their 2023 technology investments, according to the latest results from the Inman Intel Index. Read on for the biggest takeaways.
Housing Wire
FEBRUARY 12, 2024
When are interest rates going to come down? Where should mortgage rates be before I buy or refinance my home? How much home can I afford today? These are just a few of the questions independent mortgage brokers get asked on a daily basis. The reality is, borrowers are rate sensitive because it’s what they’re exposed to. Mainstream media often emphasize fluctuations in rates , which causes uncertainty and apprehension among borrowers.
BiggerPockets
FEBRUARY 16, 2024
Pittsburgh-based investor and house flipper John Walker of Turnkey Investment Properties and his business partner, Jim Auten, usually have around 10 flips on the go at any time.
Real Estate News
FEBRUARY 12, 2024
Adding property management, title or other services can help a brokerage during any market by increasing revenue streams and improving customer service.
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