Housing Wire

AUGUST 4, 2023

Redfin was in the red yet again in the second quarter , but its losses are narrowing and it’s tweaking its unique brokerage model to court more experienced agents in pricey coastal areas. Redfin’s financials Revenues at Redfin fell 21% year-over-year to $275.6 million, down from $606.9 million a year earlier. The brokerage and portal’s real estate services division, its principle source of revenue, dropped to $180.6 million, a 28% decline.

Brokerage 370

Brokerage Agents Real Estate Marketing 370

Sacramento Appraisal Blog

AUGUST 2, 2023

Sellers have been sitting, and it’s been a game-changer for the housing market in 2023. It’s also made valuations more difficult. Today I want to share some stats and talk about appraising in today’s market. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 8/18/23 Details TBD 8/29/23 Elk Grove Regional MLS Meeting 10/23 […] The post Dear sellers, the housing market misses you first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Sellers Housing Market Marketing Valuation 266

Real Estate News

JULY 29, 2023

Amid a new wave of reports of the dangers of working as a real estate agent, Jay Thompson says the industry must take steps to improve safety for all agents.

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Agents Real Estate Agent Real Estate 246

George Dell

AUGUST 2, 2023

The USPAP “Competency Rule” is straightforward. It says you must be competent! For any given assignment, “being competent” requires the appraiser to: “properly” identify the problem; have knowledge and experience to be competent; recognize and comply with applicable laws and regulations. Editor’s Note: This is Standards, part 3.9 of George Dell’s series on How Do […] The post “The” Competency Rule v Today’s Best Practices?

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Law Appraisal Valuation 195

Housing Wire

AUGUST 3, 2023

Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Yet, even the most brilliant leaders in AI have a difficult time envisioning how AI will transform the world in five years. So how can real estate agents be so cavalier about their job?

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Real Estate Agent Real Estate Agents Tools 370

Inman

AUGUST 2, 2023

In the last month, the East Coast-based brokerage has made two strategic acquisitions as the company works to bolster its presence in southeastern Massachusetts and Rhode Island.

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Realty Brokerage Realtors Real Estate 148

DataMaster

AUGUST 4, 2023

One question we get a lot at DataMaster is, “How can I calculate adjustments using DataMaster?” And true, we don’t have a separate snappy adjustment tool that requires a deep understanding of mathematical theory, not to mention a computer science degree; we can help you calculate adjustments using our core functionality. One example that our Chief Appraiser, Jared Preisler SRA, demonstrated was how to start calculating adjustments for garages.

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Tools Appraisal Marketing Valuation 148

Housing Wire

AUGUST 2, 2023

Despite a $35 million net loss in the second quarter, Zillow saw a slight annual increase in revenue to $506 million, beating Wall Street’s estimates. As a result, the company’s executives told investors and analysts that they were pleased with the firm’s second quarter performance, especially in touring, financing, and renting. “Zillow outperformed the broader industry for the fourth consecutive quarter as we navigate a tough real estate market,” said Zillow cofounder and CEO Rich Barton

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Agents Finance Sellers Housing Market 370

Inman

JULY 31, 2023

The move comes eight months after the firm rolled out its agent success services, Inman has learned. A Southwest BHHS franchisee also recently announced an agent benefits package.

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Real Estate Agent Agents Insurance Real Estate 147

Real Estate News

AUGUST 1, 2023

The two former rivals and popular home-search sites extend their connection beyond 3D Home, with Redfin calling Zillow listings “a new revenue opportunity.

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Construction 229

Eyes on Housing

AUGUST 3, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% in the second quarter of 2023. It is the largest share since Q1 2021 but roughly three percentage points lower than the post-Great Recession average. Conventional loans financed 73.7%.

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Housing Wire

AUGUST 3, 2023

HSBC Bank USA on Tuesday disclosed that it is facing an investigation from the U.S. Department of Housing and Urban Development (HUD) for alleged redlining practices. The federal investigation is based on a complaint filed by the non-profit organization National Community Reinvestment Coalition (NCRC). According to filings with the Securities and Exchange Commission (SEC), HUD is investigating whether “HSBC Bank USA violated the U.S.

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Lending Mortgage Development Marketing 370

Inman

AUGUST 3, 2023

Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay said he's developed a "people first" leadership strategy.

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Agents Brokerage Development 148

Real Estate News

AUGUST 4, 2023

Nearly a quarter of homeowners are considering selling in the next 3 years, according to a Zillow survey — a significant increase over prior surveys.

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Eyes on Housing

AUGUST 2, 2023

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.9% in the second quarter of 2023, amid persistently tight housing supply. The homeownership rate remained statistically unchanged from the first quarter reading (66%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.3 percentage points lower and remains below the 25-year average rate.

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Housing Wire

AUGUST 2, 2023

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has acquired Bonzo – a relationship management and mortgage marketing platform. Ohio-headquartered Bonzo will operate as an independent service provider that is led by the current leadership team, which includes co-founder and president Jason Perkins, co-founder and COO/CRO Miles Miller, and CEO Chad Jampedro.

Real Estate 370

Real Estate Brokerage Tools Clients 370

Inman

AUGUST 3, 2023

The ruling against HomeServices of America in federal court on Wednesday sets the stage for a likely Oct. 16 start for the first of two highly anticipated bombshell commission trials later this year.

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Realtors Brokerage Agents 148

Real Estate News

AUGUST 3, 2023

Amid falling revenue and elusive net profits, the company plans to pilot a program to give agents "the lion’s share of the commission on self-sourced sales.

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Agents 220

Eyes on Housing

AUGUST 1, 2023

The count of open, unfilled jobs for the overall economy continued to moved lower in June, falling to 9.6 million. While ongoing tight labor market conditions have raised the likelihood of a September Federal Reserve interest rate increase, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions due to elevated interest rates.

Construction 148

Construction Marketing 148

Housing Wire

AUGUST 2, 2023

Daryl Owen , the founder of top California independent brokerage Nationwide Real Estate Executives , is joining eXp Realty and taking 200 agents along with him. In 2022, his team closed $887 million in sales on 1,091 transactions, with an average home price of $740,000, eXp said in a statement Wednesday. RealTrends couldn’t independently confirm those figures; NRE has not submitted data to the RealTrends brokerage rankings since 2019.

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Brokerage Real Estate Realty Property Management 370

Inman

AUGUST 4, 2023

The company intends to prepare agents and homeowners for the "millions of new high-performing homes improved through the Inflation Reduction Act (IRA)," according to an announcement.

Home Improvement 147

Home Improvement Agents Renovations Marketing 147

Real Estate News

JULY 30, 2023

SentriLock signs Alabama associations; CubiCasa adds 10 MLS partners; Compass unveils Performance Tracker; Far Homes releases Mexico financing tool; more.

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Tools Finance 218

Chicagoland Appraisal Blog

AUGUST 1, 2023

Reading a home appraisal might feel overwhelming at first, but worry not! This guide is here to simplify the process. While each appraisal may have slight variations, the following structure offers a general roadmap to help you smoothly navigate through it. The key is to approach it in a linear manner, starting from page 1 and following the logical flow.

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Appraisal Legal Construction Appraisal Process 148

Housing Wire

AUGUST 4, 2023

Mortgage rates are finally headed lower after a crazy week of jobs data showing that the economy isn’t going into recession. Job growth is slowing as we get closer and closer to the target range of the make-up demand in labor, but it hasn’t broken yet. What do I mean by a make-up demand in labor? Assuming we had no COVID-19 and the economy continued as it had been — which was running at the most prolonged economic and job expansion ever recorded in history — we would be between 157 million ̵

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Mortgage Insurance Government Marketing 369

Inman

AUGUST 4, 2023

Home transactions may be down, but you wouldn't know it from most brokerage payrolls. Real estate hiring churned along in July, according to new data from the U.S. Bureau of Labor Statistics.

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Brokerage Real Estate Marketing Construction 147

Real Estate News

AUGUST 3, 2023

The Eighth Circuit Court of Appeals upheld a ruling denying HSA’s motion to force arbitration in the Sitzer/Burnett case, scheduled for trial in October.

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Eyes on Housing

AUGUST 1, 2023

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.9% in June after an increase of 2.9% in May. Spending stood at a seasonally adjusted annual pace of $856.3 billion. However, total private residential construction spending is still 10.4%% lower compared to a year ago. The total construction monthly increase is largely attributed to more.

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Construction 148

Housing Wire

AUGUST 1, 2023

Dallas, Texas-based Mr. Cooper Group on Tuesday announced it has completed the acquisitions of Home Point Capital and Roosevelt Management Company. With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target. Mr. Cooper concluded on Monday a tender offer for Home Point’s outstanding shares after extending the deadline twice.

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Investors Design Insurance Investing 370

Inman

AUGUST 4, 2023

EXp's revenue fell 13 percent from the second quarter of 2022 to $1.2 billion, and its gross profit decreased 10 percent to $96.5 million, according to an earnings call Thursday afternoon.

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Technology Brokerage Agents 147

Real Estate News

JULY 31, 2023

In a letter to members, Cory Shepard vowed to lead the organization into a new chapter after the former CEO was accused of embezzlement.

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Realtors 228

Eyes on Housing

JULY 31, 2023

Despite lower perceptions of affordability, the share of prospective home buyers who are actively engaged in the purchase process (i.e., have moved beyond the planning phase) remained essentially unchanged between the first and second quarters of 2023, at 56% and 55%, respectively. The lack of change in this metric suggests that some buyers are willing to continue trying to find.

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Buyers 148

Housing Wire

AUGUST 1, 2023

This year’s HousingWire Women of Influence list recognizes a remarkable group of women in housing who represent the pinnacle of excellence and innovation. These extraordinary women have shattered glass ceilings, defied expectations and carved a path of success through their dedication, expertise and unwavering commitment to transforming the housing landscape.

Real Estate 370

Real Estate Realty Lending Mortgage 370

Inman

AUGUST 2, 2023

The company lost $38 million between April and June, though it did see revenue tick up slightly. Zillow also described 2023 as "crucial," in a newly published earnings report.

Marketing 148

Marketing Technology Agents 148

Real Estate News

AUGUST 2, 2023

The company's net income of $2 million was an improvement after losses in Q1, while revenue fell by more than 10% and U.S. agent count dropped by 6.3%.

Agents 212

Agents 212