Housing Wire

JUNE 11, 2024

The U.S. Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , was anticipated late last month and commented on by Michelle Corridon, the deputy policy director at the VA.

Buyers 517

Buyers Real Estate Real Estate Agent Brokerage 517

Appraisal Buzz

JUNE 14, 2024

Home sales dipped 1.7% month-over-month in May on a seasonally adjusted basis, and 2.9% year-over-year, according to a recent Redfin study. There have only been two months in the last decade with fewer home sales: October 2023, when mortgage rates reached a 23-year high, and May 2020, when the pandemic brought the housing market to a halt and home sales to an all-time low.

Sellers 435

Sellers Buyers New Listings Mortgage 435

Sacramento Appraisal Blog

JUNE 12, 2024

Dear Sellers, if you’re overpriced, I have some thoughts for you today. This is coming from a good place, and I want you to have success in selling your home if that’s what you really want to do. Scroll by topic and let me know if you have any questions or thoughts. I hope this […] The post An open letter to overpriced sellers first appeared on Sacramento Appraisal Blog.

Sellers 360

Sellers Appraisal Housing Market Marketing 360

Real Estate News

JUNE 13, 2024

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

Inventory 307

Inventory Mortgage Buyers 307

Housing Wire

JUNE 8, 2024

Given last week’s surprising jobs report, how much longer will we have to deal with higher mortgage rates ? The labor data will be the key to answering that question. It’s essential to track the labor data along with inflation because the key to getting lower mortgage rates for longer lies with the labor data more than inflation. That makes this week another one to watch since we will have CPI inflation and the Federal Reserve meeting results on Wednesday.

Mortgage 496

Mortgage Inventory New Listings Contracts 496

Appraisal Buzz

JUNE 13, 2024

Homeownership remains a common aspiration for many Americans, yet it is often difficult to obtain. This is especially true for single parents, who often have less money to purchase a home than married couples. This is according to Jacob Channel , Senior Economist for LendingTree. We’ve previously discussed single-parent problems, and discovered that the majority of single mothers do not own a home.

Appraisal 418

Appraisal 418

Real Estate News

JUNE 11, 2024

A new survey of lenders reveals a 38 basis point difference between mortgage rates by state, which can mean hundreds of dollars a year for borrowers.

Mortgage 294

Mortgage 294

Housing Wire

JUNE 14, 2024

Elevated mortgage rates, high home prices and a lack of for-sale listings continue to hamper U.S. home sales, with Redfin reporting Friday that sales in May 2024 dropped to one one of the lowest levels of the past decade. The annualized rate of home sales, adjusted for seasonality, fell below 408,000 last month. That was down 1.7% from the prior month and 2.9% below year-ago levels.

Sellers 466

Sellers Buyers Contracts Brokerage 466

Appraisal Buzz

JUNE 11, 2024

The U.S. Department of Veterans Affairs (VA) has announced in Circular 26-24-14 that eligible veterans, active-duty servicemembers, and surviving spouses who use VA-guaranteed home loan benefits can pay for certain real estate buyer-broker fees when purchasing a home. The VA home loan program, which celebrates its 80th anniversary later this month, has provided more than 28 million loans to veterans to date.

Realtors 418

Realtors Real Estate Buyers Sellers 418

Inman

JUNE 11, 2024

The temporary rules were first announced in May ahead of Memorial Day and came in response to calls from Realtors who feared veterans would become less competitive in the new landscape.

Realtors 187

Realtors Buyers Real Estate Brokerage 187

Real Estate News

JUNE 14, 2024

A recent survey from Clever found that 70% of agents are unhappy with the deal, but two-thirds of consumers think commissions practices should change.

Agents 286

Agents 286

Housing Wire

JUNE 12, 2024

Should we be concerned about the number of homeowners who are underwater on their homes? Recent data from Attom showed that 1 out of every 37 homes were severely underwater, something I talked about on CNBC recently , but CoreLogic data provides a reality check on this topic. Let’s dig in. One of the most alarming aspects of the housing bubble crash was the staggering number of Americans who were underwater on their homes.

Housing Market 490

Housing Market Mortgage Law Government 490

Appraisal Buzz

JUNE 10, 2024

There seems to be continued debate among appraisers, reviewers, and underwriters regarding seller concessions. A particular point of contention in this debate is whether or not it is appropriate to adjust seller concessions on a dollar-for-dollar basis. I must admit, that point of contention is somewhat understandable, as the ‘Sales or Financing Concessions’ portion of the Fannie Mae Selling Guide has always appeared to be a little contradictory (see B4-1.3-09, Adjustments to Comparable Sales

Sellers 418

Sellers Real Estate Appraisal Finance 418

Inman

JUNE 13, 2024

Broker Bill Kowalczuk and agent David Harris were not gone for long before realizing they missed Coldwell Banker Warburg's robust support systems. Agent Guy Hobson has also joined the firm.

Agents 184

Agents Brokerage 184

Real Estate News

JUNE 10, 2024

Attorneys argue that if the federal agency wants to make policy changes, it should do so through the legislature, not an antitrust settlement.

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Housing Wire

JUNE 11, 2024

The iBuying platform Offerpad and Realtor.com are teaming up. In an announcement on Tuesday, the firms said that Offerpad was integrating with Realtor.com. According to the release, the integration will allow Offerpad to provide a cash offer to more sellers and will extend Offerpad’s reach to a larger audience of potential sellers. “Over the past year, with all of the adversity happening for buyers and sellers and the industry in general, we have really been focused on trying to find buyers and

Sellers 466

Sellers Real Estate Agent Buyers Real Estate 466

Appraisal Buzz

JUNE 14, 2024

This piece originally appeared in the June 2024 edition of MortgagePoint magazine, online now. In today’s low-volume market cycle, mortgage originators can build business by focusing on purpose-built loan products designed to overcome the specific challenges homebuyers face in the current market. In a landscape marked by limited turnkey housing inventory, significant affordability issues, and relentless competition from cash-rich investors, homebuyers need more than plain vanilla home loans.

Marketing 396

Marketing Renovations Construction Finance 396

Inman

JUNE 14, 2024

Fair housing goes beyond knowing the protected classes. Dr. Lee Davenport offers a primer on 4 levels of fairness involved in fair housing and how to communicate the facts to buyers and sellers.

Real Estate 194

Real Estate Sellers Buyers Law 194

Real Estate News

JUNE 12, 2024

Compass, eXp, Redfin, Weichert, United Real Estate and Hanna among remaining defendants in Batton 2 case; a smaller case moves closer to a settlement.

Real Estate 260

Real Estate 260

Housing Wire

JUNE 10, 2024

As baby boomers increasingly seek to age in place in their own homes — a scenario supported by both the preferences of older homeowners and the realities brought on by elevated mortgage rates — this is clashing with the desires of millennials who wish to enter the housing market, as the combination of limited inventory and high costs are keeping these buyers on the sidelines of the mortgage market.

Housing Market 465

Housing Market Renovations Inventory Realtors 465

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. “Rate lock’s hold seems to be loosening—homeowners who may have put off listing their homes are done waiting.

Sellers 397

Sellers Buyers New Listings Home Value 397

Inman

JUNE 8, 2024

Inman Connect is all about connecting. In fact, we’re famous for it. On this side of event planning, we have one goal in mind: to help the real estate industry connect with each other. Elevate your NOI (network of influence) at Inman Connect Las Vegas. Here's how.

Real Estate 180

Real Estate Brokerage Agents 180

Real Estate News

JUNE 13, 2024

Bailey, the former CEO of RE/MAX, discussed the keys to success when leading a business that is accountable to both customers and shareholders.

Real Estate 270

Real Estate Business 270

Housing Wire

JUNE 13, 2024

Opendoor has partnered with nationwide multiple listing service My State MLS to equip more than 60,000 agents in each of the 50-plus markets Opendoor serves with access to the iBuyer’s cash-offer solution. My State MLS is a nationwide multiple listing service that allows members to list and search properties anywhere in the U.S. According to a news release, through the partnership, My State MLS agent members will be able to receive estimated cash offers on qualifying properties within minutes to

Sellers 464

Sellers Agents Clients Realty 464

Appraisal Buzz

JUNE 12, 2024

ATTOM’s May 2024 Foreclosure Market Report found that there were a total of 32,621 U.S. properties with foreclosure filings during the month—default notices, scheduled auctions, or bank repossessions—up 3% from April 2024, but down 7% from a year ago. “May’s foreclosure activity highlights nuanced shifts in the housing market,” said Rob Barber, CEO at ATTOM.

Government 397

Government Real Estate Housing Market Mortgage 397

Inman

JUNE 11, 2024

Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending.

Lending 185

Lending Mortgage Investing 185

Real Estate News

JUNE 10, 2024

At a town hall event, Keller Williams leadership addressed agents’ concerns, acknowledged that “change is not comfortable.

Agents 293

Agents 293

Housing Wire

JUNE 10, 2024

The path forward for the settlement agreements reached by Anywhere , RE/MAX and Keller Williams with the home seller plaintiffs in the commission lawsuits has become a bit murkier. Last week, two parties filed appeals with the Eighth Circuit Court of Appeals that seek to overturn Judge Stephen R. Bough’s May 9 decision to grant final approval of the three settlement agreements.

Sellers 450

Sellers Real Estate Agents Realtors 450

Appraisal Buzz

JUNE 11, 2024

Rents declined in May for the tenth consecutive month, and the speed of the decline has slowed since earlier this year, suggesting potential challenges for additional reductions in total inflation. This is according to the Realtor.com Rental Report for May. The report suggests that this could possibly complicate the Fed’s policy decisions and also underlines the need for increased home construction, particularly in those locations where a lack of rental supply is leading to rising costs.

Construction 396

Construction Marketing Government Appraisal 396

Inman

JUNE 11, 2024

There are several ways in which agents can prove just how much they're worth — and why anyone would want to sign a buyer-broker agreement and pay their commission.

Buyers 191

Buyers Agents Real Estate 191

Real Estate News

JUNE 8, 2024

Parks leaders form new firm; TX indie merges with United; NYC brokerages join Side; Corcoran gains music legend; C21 grows in AL; Chicago duo joins E&V; more.

Brokerage 256

Brokerage 256

Housing Wire

JUNE 12, 2024

Today’s double event of the CPI inflation report and the Fed meeting gave us something that I have been waiting for: a hint from Fed Chairman Jay Powell that the labor market has softened. Today he acknowledged what I have been talking about for months: the Fed’s key data lines are at pre-COVID-19 levels today. Before the Fed held its press conference, we got a softer-than-anticipated CPI report, which sent the 10-year yield (and mortgage rates ) lower at first.

Housing Market 475

Housing Market Marketing Mortgage 475

Appraisal Buzz

JUNE 10, 2024

Home sale prices are falling year-over-year in four major U.S. metros, according to a new Redfin report, three of which are in Texas: Austin (-2.9%), San Antonio (-1.2%), and Fort Worth (-1.2%), followed by Portland, Oregon (-0.9%). Home prices jumped 4.4% nationwide from a year ago, reaching an all-time high in the four weeks ending June 2. However, the report finds that there are early indications that nationwide price increases could slow soon, as an estimated 6.4% of US home sellers reduced

New Listings 397

New Listings Sellers Mortgage Agents 397

Inman

JUNE 8, 2024

Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010.

Mortgage 192

Mortgage Marketing 192