Sacramento Appraisal Blog
JANUARY 30, 2024
Frozen. Stuck in place. Not moving. That pretty much describes sellers. But in 2024 there’s a flicker of hope as sellers have thawed out just a bit. I’ll explain what I mean below, and I suspect many markets around the country are experiencing a similar trend. Any thoughts? UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright […] The post Are sellers finally starting to thaw out?
Housing Wire
JANUARY 28, 2024
Housing demand is up and it’s time to track the spring housing data and see what the selling season will bring. As I always stress, we are working from the lowest bar ever with demand, so let’s add historical context to the data. But, even with mortgage rates higher this year than last year, demand is rising. Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good.
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Real Estate News
FEBRUARY 1, 2024
The deal will leave just NAR and HomeServices of America as defendants in Sitzer-Burnett and similar commissions cases, with billions of dollars at stake.
Inman
FEBRUARY 2, 2024
German search engine optimization (SEO) platform SISTRIX ranked portal Homes.com No. 43 on a list of fastest-growing domains in the U.S. The company has been ranking domains for 15 years.
Eyes on Housing
JANUARY 30, 2024
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.7% in the last quarter of 2023, amid persistently tight housing supply and elevated mortgage interest rates. This is 0.3 percentage points lower from the third quarter reading (66%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.5 percentage points lower and.
Housing Wire
JANUARY 30, 2024
The U.S. housing market has reached its least affordable point in decades and housing agencies have increasingly rolled out homebuyer assistance programs to tackle this issue. A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year. This brought the nationwide tally up to 2,294, according to Down Payment Resource’s fourth-quarter Homeownership Program Index (HPI) report.
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Inman
JANUARY 28, 2024
Jimmy Burgess shares 10 specific prompts designed for real estate agents that will help you generate leads, grow your business and serve your clients at the highest level possible.
Eyes on Housing
JANUARY 31, 2024
NAHB analysis of Census data shows that private residential construction spending rose 1.4% in December, marking three months of gains. It stood at a seasonally adjusted annual pace of $911.7 billion. The 2023 annual spending on private residential construction was $864.9 billion, 5.8% lower than the 2022 annual totals. The monthly increase in total construction spending is attributed to more.
Housing Wire
FEBRUARY 2, 2024
Redfin is back to offering refunds to homebuyers but this time under a new name. Launched on Thursday, the brokerage’s Sign & Save program provides buyers who sign up to work with a Redfin agent before their second home tour — and who purchase a property with that agent within 180 days of signing the agreement — a refund of 0.25% to 0.5% of the purchase price of the house.
Real Estate News
FEBRUARY 2, 2024
“We’re trying to be an example of what an association can do,” says René Galvan, who will take over for Bob Hale as CEO in 2026.
Inman
JANUARY 31, 2024
Fed Chair Jerome Powell says a rate cut at the central bank's next meeting is not "the base case," with policymakers wanting to see more data showing inflation is on a sustainable path down to 2 percent.
Eyes on Housing
JANUARY 31, 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 January 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.
Housing Wire
FEBRUARY 1, 2024
Keller Williams has decided to bow out of the Sitzer/Burnett commission lawsuit. On Thursday, the Gary Keller-helmed brokerage notified the federal court in Missouri that it had entered into a settlement agreement with the plaintiffs in the Sitzer/Burnett suit. The settlement settles all home seller lawsuits nationwide. According to Keller Williams spokesperson Darryl Frost, the firm will pay $70 million as part of the settlement agreement.
Real Estate News
FEBRUARY 1, 2024
According to a new survey, the majority of buyers are concerned about transparency in the homebuying process.
Inman
FEBRUARY 2, 2024
Zillow Immerse is the latest in a series of software releases from the home search leader as it moves toward an agent services model, collectively referred to as its “super app.
Eyes on Housing
FEBRUARY 2, 2024
The U.S. economy entered the new year with a strong gain in payroll employment and an unchanged unemployment rate. Job gains in November and December were much stronger than initially estimated, according to revisions of the establishment survey data. January’s jobs report shows that the job market remains unexpectedly strong despite the impact of the highest interest rates in two.
Housing Wire
FEBRUARY 1, 2024
Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 5.94% this week, down from 5.96% during the prior week.
Real Estate News
JANUARY 27, 2024
Candice McCuien became the first Black woman elected to lead her association, breaking new ground while successfully aligning her brokerage with Century 21.
Inman
JANUARY 30, 2024
Millennials began reshaping multifamily housing in compelling ways, writes Michael Zaransky, and Gen Z promises to accelerate that change. Property managers must be ready.
Eyes on Housing
JANUARY 30, 2024
Due to tightened monetary policy, the count of total job openings for the entire economy has trended lower in recent months. This is consistent with a cooling economy that is a positive sign for future inflation readings. However, the December data showed an uptick due to stronger than expected GDP growth for the fourth quarter of 2023. In December, the.
Housing Wire
JANUARY 31, 2024
After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” In a video posted on Wednesday, NAR interim CEO Nykia Wright told viewers that, “the notion that the National Association of Realtors controls what real estate professionals get paid is wholly untrue.
Real Estate News
FEBRUARY 1, 2024
Rates have remained relatively stable since December, with the average 30-year mortgage rate posting a modest decline this week.
Inman
JANUARY 31, 2024
The office of New York State Comptroller, which holds nearly 27,000 shares of eXp World Holdings stock, sent a letter to eXp CEO Glenn Sanford requesting he establish an independent committee to formally look into the allegations.
Appraiserblogs
FEBRUARY 1, 2024
Fellow Appraisers, the appraisal industry has been facing a major issue with AMCs violating the Truth in Lending Act (TILA) and the Customary and Reasonable fee clauses. This has not only caused harm to consumers but also to appraisers who are struggling to make a living. Despite efforts to bring this issue to light, it has been largely hidden from the public and regulators.
Housing Wire
JANUARY 30, 2024
Nearly three in four baby boomers aren’t using resources that would help them achieve or maintain homeownership status, according to survey data released Tuesday by nonprofit group NeighborWorks America. About 10,000 Americans turn 65 each day and all boomers will reach that milestone by 2030, according to census data. But a significant portion of this generation remain renters and are utilizing homeownership tools less frequently than younger age groups.
Real Estate News
JANUARY 31, 2024
In her first public message as CEO, Nykia Wright defended the real estate profession, saying it has been “vilified,” “sensationalized” and “misrepresented.
Inman
JANUARY 29, 2024
A buyer with a monthly budget of $3,000 can now purchase a home worth approximately $453,000 — up from $416,000 in October when mortgage rates reached a record of 7.8 percent, according to Redfin.
Appraisal Partners Blog
JANUARY 31, 2024
The post <div class="hrt">Unlocking Property Value: The Essential Role of Residential Appraisals</div> appeared first on Appraisal Partners.
Housing Wire
JANUARY 29, 2024
After nearly three years of doom and gloom in the mortgage industry, housing experts — including Fannie Mae economists — are expecting interest rates to ease. While Fannie Mae expects mortgage rates to drop to below 6% by the end of this year, the government-sponsored enterprise also forecasts that if there isn’t significant supply growth and buyer demographics remain strong, home prices will rise once again.
Real Estate News
FEBRUARY 2, 2024
Zillow unveils app for Apple's Vision Pro; Perchwell offers REBNY RESO-compliant data solution; CoreLogic launches security platform; Lofty adds AI assistant.
Inman
FEBRUARY 1, 2024
"Strategic move" expands New American's footprint in the Midwest and East Coast regions, with a majority of DKMC's loan originators and support staff to be retained.
Appraiserblogs
JANUARY 29, 2024
It turns out they were actually rejecting your proposals and not your bids! It’s time to grab your popcorn and settle in for another round of AMC shenanigans. Last week, Class Valuation, the esteemed AMC known for their impeccable reputation, sent out an email to appraisers claiming that they do not “bid for the cheapest and fastest appraisal.” Instead, they send out a request for proposal, because apparently, they are now a Fortune 500 company looking for fancy proposals from appraisers.
Housing Wire
FEBRUARY 1, 2024
Sure, your real estate landing pages look great — but do they convert? A good real estate website includes more than just drool-worthy images of homes priced to sell. Your real estate website should serve multiple functions, almost like a digital business card with an MLS listing storefront, a booking platform, a home valuation page, and even your background story and biography.
Real Estate News
JANUARY 29, 2024
The largest firms are claiming an increasing number of sales, driven in part by fast-growing companies like Compass and eXp.
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