Housing Wire
MARCH 16, 2024
It’s spring 2024 and we have a Federal Reserve meeting this week. The 10-year yield is at the same critical point as last year before the Fed went hawkish and sent mortgage rates to 8% and the 10-year yield to 5%. Could this happen again? This is the week the balls are all in the Federal Reserve ’s court. I believe it is in the Fed’s interest to keep existing home sales depressed.
Appraisal Buzz
MARCH 21, 2024
Existing-home sales were at a seasonally adjusted annual rate of 4.38 million in February, an increase of 9.5% compared with January but down 3.3% compared with February 2023, according to the National Association of Realtors (NAR). It was the largest monthly increase since February 2023. Helping to boost existing-home sales in February was that inventory increased 1.07 million by the end of the month – up 5.9% compared with January and up 10.3% compared with February 2023.
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Sacramento Appraisal Blog
MARCH 20, 2024
Everyone is talking about the National Association of Realtors (NAR) lawsuit settlement, and I have a few thoughts too. It’s important to cultivate objectivity and keep some things in mind about buyers, sellers, and concessions. UPCOMING SPEAKING GIGS: 3/21/24 2024 Market Update for Brent Gove Team (big event free) 3/26/24 Orangevale MLS meeting 9am 4/11/24 […] The post Some things on my mind about the NAR lawsuit first appeared on Sacramento Appraisal Blog.
Real Estate News
MARCH 18, 2024
The last defendant in the Sitzer/Burnett commissions case said it anticipated the motion and will respond with its own court filings in April.
Housing Wire
MARCH 22, 2024
There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement. Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement.
Appraisal Buzz
MARCH 22, 2024
The U.S. mortgage delinquency rate fell to 3.34% in February, a decrease of 1.29% compared with January and down 3.24% compared with February 2023, according to ICE Mortgage Technology’s First Look report. While the number of borrowers one payment behind rose modestly by 10,000, those 60 days late as well as those 90 or more days past due both fell to their lowest levels in three months.
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Real Estate News
MARCH 19, 2024
NAR’s proposed settlement in the commissions cases has quickly led to a flurry of headlines — many of them wrong. Here’s what agents need to do.
Housing Wire
MARCH 20, 2024
Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation. Initially, the entire commission percentage was pocketed by the listing agent, who solely represented the seller’s interests.
Appraisal Buzz
MARCH 21, 2024
Multistate mortgage lender Click n’ Close is now a preferred partner with The Mortgage Collaborative (TMC), a consortium dedicated to providing mortgage lenders with access to technology and mortgage banking resources. As a result, TMC’s members will have access to SmartBuy, a proprietary suite of down payment assistance (DPA) loan programs offered by Click n’ Close designed to give homebuyers an advantage in today’s heightened mortgage interest rate environment.
The Appraiser Coach
MARCH 19, 2024
As a real estate investor, I have the opportunity to rub shoulders with all kinds of people, even other appraisers on occasion. With a recent house purchase in another state, I got a call from the appraiser of this property as he was planning a visit out there. We talked about what was still needed and how to go about the property moving forward. I never mentioned that I was in his same line of work, but it was a breath of fresh air when I got off the phone and I was reminded of a principle I te
Real Estate News
MARCH 22, 2024
NAR’s settlement — and the emotions surrounding it — could lead more agents to consider trading in their membership for something new.
Housing Wire
MARCH 22, 2024
Compass has joined the National Association of Realtors , Anywhere , Keller Williams and RE/MAX in settling the commission lawsuits. In a document filed with the Securities and Exchange Commission on Friday morning, the Robert Reffkin-helmed firm announced that it had reached a nationwide settlement in relation to the Umpa and Gibson suits on Thursday.
Appraisal Buzz
MARCH 21, 2024
Jason Cave, former chief fintech officer and deputy director for the FHFA, has joined the board of advisors at Argyle , a provider of automated income and employment verifications for mortgage lenders. The 30-year government veteran is an internationally recognized leader in bank supervision and an outspoken advocate for housing finance innovation, Argyle says in a release.
Inman
MARCH 22, 2024
The news comes one week after NAR's whopping $418 million settlement was announced. Compass also agreed to make some minor changes to its business practices as part of the settlement.
Real Estate News
MARCH 16, 2024
Buckle up: The proposed NAR settlement will unleash a fast-moving wave of change – and opportunity, especially for buyer agents who can articulate their value.
Housing Wire
MARCH 19, 2024
For many real estate brokerages and roughly 1 million Realtors, the nationwide settlement agreement that the National Association of Realtors (NAR) negotiated due to the ongoing commission lawsuits marks the end of their cooperative compensation litigation concerns, at least for the time being. But for roughly one-third of NAR’s membership — and nearly 100 of the nation’s largest brokerages by transaction volume — the agreement reached on March 15 may be just the beginning of the saga.
Appraisal Buzz
MARCH 21, 2024
Join us for today’s episode of the Appraisal Buzzcast, as host Hal Humphreys interviews Malinda Griffin, incoming President of the NAA. Malinda talks about her experience with the NAA, what’s to come in the future, and why she believes appraiser conferences and networking are so crucial for both appraisers and trainees. The ACTS conference is only a month away!
Inman
MARCH 19, 2024
The recent surge in mortgage rates could take some air out of a projected rebound in 2024 home sales, with deals driven mostly by households who can no longer put off their moves due to life events.
Real Estate News
MARCH 18, 2024
During a livestream with nearly 50,000 viewers, eXp leaders discussed NAR’s proposed settlement while agents flooded the chat with reactions.
Housing Wire
MARCH 21, 2024
Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as
Appraisal Buzz
MARCH 21, 2024
After decreasing the previous two weeks, mortgage rates went back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage increasing to 6.87%, up from 6.74% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.42%. “After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Eyes on Housing
MARCH 20, 2024
Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show. The primary objective of the study is to provide builders, manufacturers, architects, and the general residential construction industry with a thorough analysis of what.
Real Estate News
MARCH 18, 2024
From buyer agreements to non-MLS places where cooperative compensation can appear, here’s what Keller Williams is telling leaders and agents about the deal.
Housing Wire
MARCH 20, 2024
The Federal Reserve ’s Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% for a fifth straight meeting on Wednesday. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” according to the FOMC statement. “In addition, the Committee will continue reducing its holdings of Treasury securities and agency de
Inman
MARCH 21, 2024
They asked the court for more time to analyze the impact on their proposed settlement of NAR's proposed rule change banning the MLS display of commissions offered to buyer brokers.
GoForrmz
MARCH 18, 2024
Originally published on 06/27/2018 Collect better farm data with digital agriculture forms Whether you’re a local farmer, a member of the Farm Service Agency, or a USDA Information Technology specialist, odds are your work has been dramatically impacted by the rise of precision agriculture. Precision agriculture, as described by Geoffrey Ling and Blake Bextine of Scientific American , “combines sensors, robots, GPS, mapping tools and data-analytics software to customize the care that plants rece
Real Estate News
MARCH 19, 2024
In a call with media, NAR reps sought to dispel confusion and misinformation coming out of the March 15 settlement announcement.
Housing Wire
MARCH 20, 2024
Friday’s bombshell – the National Association of Realtors ‘ proposed $418 million settlement of real estate commission lawsuits – set off a frenzy of trading for stocks in the residential real estate sector. Trading volumes in eight residential brokerage or listings companies rocketed up 319% to almost 80 million shares on Friday.
Inman
MARCH 22, 2024
The $1.2 trillion funding bill passed by the House Friday averts a partial government shutdown and extends a critical insurance program that protects 4.7 million homes through the end of September.
Eyes on Housing
MARCH 20, 2024
The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target of 5.5% at the conclusion of its March meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization. Marking a fifth consecutive meeting holding.
Real Estate News
MARCH 22, 2024
The first of 90-plus brokerages not included in the NAR settlement reaches a deal that includes changes to its business practices as well as a monetary payout.
Housing Wire
MARCH 22, 2024
In real estate brokerage, growth is the name of the game and for 2024 (based on 2023 data), The Real Brokerage and The Agency are winning that game. Berkshire Hathaway HomeServices RW Towne Realty also had a strong showing. The 2023 housing market was a period of uncertainty with low inventory and industry challenges. For all of 2023, the Relitix Agent Movement Index , showed a marked decrease in agent movement.
Inman
MARCH 21, 2024
In pursuit of a bigger slice of an estimated $14 billion market after Black Knight acquisition, Intercontinental Exchange signs 37 new Encompass clients and four new servicing clients.
Eyes on Housing
MARCH 20, 2024
As we reported earlier, immigrants make one in four construction workers. The share is significantly higher (31%) among construction tradesmen. In some states, reliance on foreign-born labor is particularly evident, with immigrants comprising 40% of the construction workforce in California and Texas.
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