Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales.

Inventory 466

Inventory Renovations Real Estate Government 466

Real Estate News

JULY 5, 2023

Younger generations are especially motivated by walkability, even if it means paying more, giving up yard space or living in a multifamily dwelling.

Buyers 275

Buyers 275

The Appraiser Coach

JULY 4, 2023

Today I want to share a story with you about an event that happened in my hometown. This event happened well over a year ago, and violently shook the community. It was sad and terrifying, but I feel like events like this give us an important opportunity to reflect on what’s most important. On the morning of May 6, 2021, I was driving home from an appointment in Driggs, ID.

Appraisal 195

Appraisal Inspection Advertising Real Estate Agent 195

George Dell

JULY 5, 2023

What!? Universal Valuation Standards? Not possible! This part 6 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.6 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. The ‘possibility’ premise, however, is that all valuations follow the same logic […] The post Move to Universal Standards?

Valuation 150

Valuation 150

Housing Wire

JULY 2, 2023

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data.

Inventory 458

Inventory Housing Market Marketing New Listings 458

Real Estate News

JULY 6, 2023

The Baird & Warner CEO shares how his family business has thrived in a cyclical, sometimes “regressive” industry, and discusses the future of buyer agency.

Brokerage 261

Brokerage Buyers Business 261

Eyes on Housing

JULY 5, 2023

Consumer confidence in June rose to its highest level in 17 months as recession concerns eased. However, spending plans were mixed. Vacation intentions continued to improve, while the intention to buy homes and big-ticket appliances cooled further due to elevated mortgage rates. This shift in consumer preference from goods to services is likely to continue this year.

Mortgage 183

Mortgage 183

Housing Wire

JULY 7, 2023

The 10-year yield and mortgage rates have been rising close to the 2023 high as some labor data shows that the honey badger labor market is still growing. To make things even more complicated, the spreads between the 30-year mortgage rate and the 10-year yield keep getting wider. The question is: will the labor data push mortgage rates to 8%? In my 2023 forecast , I wrote that if the economy stays firm, the 10-year yield range should be between 3.21% and 4.25% , equating to mortgage rates betwee

Mortgage 421

Mortgage Government Marketing Insurance 421

Real Estate News

JULY 2, 2023

Facing a contraction of his brokerage business, J. Philip Faranda made a previously "unthinkable" decision. Now he wishes he had done it sooner.

Brokerage 260

Brokerage Contracts Business 260

Inman

JULY 6, 2023

Existing-home sales are expected to tumble to a 12-year low by the end of 2023, but they won't stay that way for long, Realtor.com Chief Economist Danielle Hale predicted on Wednesday.

Agents 167

Agents Marketing 167

Eyes on Housing

JULY 6, 2023

The count of open, unfilled jobs for the overall economy moved lower in May, falling to 9.8 million. While ongoing tight labor market conditions have likely confirmed one to two more Fed rate hikes through the start of the Fall, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions. The count of open.

Construction 175

Construction Marketing 175

Housing Wire

JULY 5, 2023

There was a viral tweet going around from YouTube housing influencer Nick Gerli. You’ve probably seen it. Gerli cites data from a company called AllTheRooms to make the case that the Airbnb /short-term rental market is “crashing” and it will have a big impact on inventory. Indeed, the chart he shared is alarming. A nearly 50% drop in revenue in some markets!

Inventory 397

Inventory Housing Market Marketing Sellers 397

Real Estate News

JULY 7, 2023

Yes, there's a new social media app in town. It might be a fad — or the next big thing — but getting on board now could reap dividends for your business.

Business 256

Business 256

Inman

JULY 6, 2023

Janelle Brevard initially sued the National Association of Realtors, claiming her firing was a form of harassment and retaliation. The case ended Thursday, though many questions still remain.

Realtors 161

Realtors Brokerage Agents 161

GoForrmz

JULY 7, 2023

Originally published on 09/08/2020 Ready to digitize your first mobile form? Here’s a guide to help you get started! Check out these helpful tips and tricks to get started building and optimizing your first mobile form Template : How to Upload Your First Form Getting started with GoFormz is easy and only takes a few steps. Login to GoFormz from your computer and simply upload your first form (PDF or JPG) into the GoFormz Template Editor.

Modernization 148

Modernization Inspection Tools Business 148

Housing Wire

JULY 7, 2023

Consumer confidence in housing may have plateaued, according to the latest home purchase sentiment index (HPSI) by Fannie Mae. The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — rose a mere 0.4 points to 66 as difficult supply and affordability conditions continue to weigh on the housing market, according to Fannie Mae.

Housing Market 397

Housing Market Mortgage Marketing 397

Real Estate News

JULY 6, 2023

A former employee has withdrawn a lawsuit alleging she was unfairly fired after ending a relationship with the National Association of Realtors president.

Realtors 233

Realtors 233

Inman

JULY 7, 2023

Consumer confidence in the housing market "appears to have plateaued at a relatively low level," said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday.

Housing Market 161

Housing Market Mortgage Marketing Inventory 161

Eyes on Housing

JULY 7, 2023

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2023. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP increased ranged from 12.4 percent in North Dakota to 0.1 percent in Alabama and Rhode Island. Nationwide, growth in real GDP, measured on a seasonally.

Marketing 103

Marketing 103

Housing Wire

JULY 7, 2023

Nationwide Property and Appraisal Services LLC (NPAS), led by Sri Velamati and one of the largest appraisal management companies in the U.S., announced that it has acquired Integrity Appraisal Management (Integrity), a regional AMC based in Houston, TX. The acquisition of Integrity will help NPAS strengthen its ability to expand market reach and enhance product and service offerings, the company said in a statement.

Appraisal 405

Appraisal Investing Marketing Valuation 405

Real Estate News

JULY 1, 2023

J. Philip Faranda grew a thriving brokerage business over 18 years. He never considered selling — but then the market shifted. Here's his story.

Brokerage 236

Brokerage Business Marketing 236

Inman

JULY 7, 2023

In the face of new harassment allegations at the highest levels of leadership, where is the outrage? asks speaker and writer Valerie Garcia. Is this who we are as Realtors?

Realtors 161

Realtors Brokerage Agents 161

Eyes on Housing

JULY 6, 2023

After two consecutive monthly declines, existing home sales saw a modest increase in May as mortgage rates were relatively steady in April, according to the National Association of Realtors (NAR). However, elevated mortgage rates and limited inventory continued to weight on homebuyers. Low resale inventory and strong demand have contributed to the recent increases in new home sales.

Inventory 103

Inventory Realtors Mortgage 103

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. By contrast, the 30-year was at 5.30% a year ago at this time.

Mortgage 384

Mortgage Construction Inventory Investors 384

Real Estate News

JULY 3, 2023

Discerning buyers have high expectations, says luxury pro Farrah Brittany of The Agency, who shares tips for creating a memorable showing.

Agents 237

Agents Buyers 237

Inman

JULY 3, 2023

The North Carolina centenarian, who bought her first home in the 1940s, is settling in at the "lovely house" where she'll live with her son, news station WSOC-TV reported.

Clients 161

Clients Buyers 161

Kairos Appraisal Services

JULY 6, 2023

The home appraisal report plays a significant role in the home buying process. This article provides a brief overview of its various sections and what is covered in each, so you can gain a better understanding of how to read a home appraisal report. In this article, we’ll walk you through the Uniform Residential Appraisal… The post How to Read a Home Appraisal Report appeared first on Kairos.

Appraisal 97

Appraisal Sellers Buyers 97

Housing Wire

JULY 6, 2023

The Consumer Financial Protection Bureau (CFPB) released its 2022 Fair Lending Annual Report to Congress last week, which illustrates how it took aim last year at redlining and appraisal discrimination in pursuit of its enforcement and supervision, guidance and rulemaking, interagency coordination, and outreach and education missions. The CFPB in 2022 focused heavily on redlining; potential discrimination in the underwriting process; whether lenders are “illegally steering applicants on a prohib

Lending 384

Lending Technology Law Valuation 384

Real Estate News

JULY 7, 2023

The country’s largest independent brokerage recently pulled out of IDX in the Cleveland area, touching off widespread discussion. Will its approach catch on?

Brokerage 216

Brokerage 216

Inman

JULY 7, 2023

Despite sales falling by double-digits, agents and brokers in Alexandria, Richmond and Norfolk, Virginia, anticipate a summer of heated bidding wars, tough negotiations and market headwinds.

Sellers 154

Sellers Buyers Agents Marketing 154

Boston Appraisal

JULY 6, 2023

Property disputes can come in many forms: from squabbles between neighbors about boundary lines to legal battles in a divorce proceeding over shared assets. In these situations, a property appraisal can be an indispensable tool in the lawyer’s arsenal. By providing an objective assessment of the property’s market value, an appraisal can aid in dispute resolution, assist in legal arguments, and guide negotiations.

Appraisal 78

Appraisal Legal Market Value Appraisal Process 78

Housing Wire

JULY 6, 2023

Digital mortgage lender Better.com disclosed that it posted a net loss of $89.9 million in the first quarter of 2023 and cut approximately 91% of its workforce over an approximately 18-month period — due in large part to a substantial decline in its funded loan volume. Better.com also spilled red ink in both 2022 and 2021, reporting a net loss of $888.8 million and $301.1 million respectively, according to the latest Securities and Exchange Commission (SEC) filings with Aurora Acquisition Corp.

Real Estate 370

Real Estate Agents Business Mortgage 370

Real Estate News

JULY 7, 2023

In this high-interest rate, low-inventory environment, creative financing tactics can help agents and their clients seal the deal.

Tools 238

Tools Inventory Finance Clients 238

Inman

JULY 6, 2023

Dallas-based team leaders Jason Castro and Liz Mello have moved their team, The Castro Group, to Compass. They are the 48th agent or team to move from Coldwell Banker to Compass this year.

Real Estate 154

Real Estate Agents Brokerage 154