Sat.Jan 25, 2025 - Fri.Jan 31, 2025

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Why new home sales are disappointing, despite beating estimates

Housing Wire

Todays new home sales report beat market expectations, just like last weeks existing home sales report. However, a detailed analysis of the data explains why housing permits continue to remain at recession-level figures. Builders are struggling to get clarity on how many homes they can sell in this rate environment in the future. Without more clarity on mortgage rates , substantial growth in housing permits is unlikely.

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U.S. Homes Selling at Slowest Pace Since 2019

Appraisal Buzz

According to a recent Redfin study, housing prices and mortgage rates are still high, and home sales are at their weakest pace since the pandemic began. Not only are properties selling more slowly, but there are also fewer residences being turned over. Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop.

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What Time is It? pt 10

George Dell

Time adjustments are now required by Fannie Mae and Freddie Mac. Time adjustments were previously required when necessary. Now a market conditions adjustment isrequired on every appraisal. This means that even if personal judgment says the subject market is stable, ananalysis must be performedto arrive at the zero adjustment conclusion. An FHFA (Federal Housing Finance […] The post What Time is It?

Finance 361
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Sellers want max exposure for their listings, survey finds

Real Estate News

Most sellers dont know much about MLSs or private listing networks but they want an agent who can get their listing in front of the largest pool of buyers.

Sellers 313
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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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New-home sales hit highest level since 2021

Housing Wire

New home sales continue to be a bright spot in a dismal housing market. The December report from the U.S. Census Bureau and Department of Housing and Urban Development shows new-home sales registering at a seasonally adjusted annual rate of 698,000, good for a 6.7% rise year over year and 3.6% higher than November. Even better, new home sales for the calendar year 2024 are estimated at 683,000, which is 2.5% more than 2023 and the highest sales have been since 2021.

Inventory 476

More Trending

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The housing market is warm. Not blazing hot.

Sacramento Appraisal Blog

The housing market is heating up, but it’s not blazing hot. The temperature so far in January feels warmer than anything. In other words, we’re seeing some spring vibes, but it hasn’t been completely insane. Let’s unpack that today. Scroll quickly by topic or digest slowly. Any thoughts? UPCOMING SPEAKING GIGS: 1/31/25 Prime Real Estate […] The post The housing market is warm.

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Final judgment puts a bow on NAR commissions deal

Real Estate News

Court documents lay out the details of the landmark Sitzer/Burnett settlement, including whos in (covered parties and opt-ins) and sellers who opted out.

Sellers 252
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Pending home sales limped to the end of 2024

Housing Wire

Pending home sales ended the year on a down note, according to data published on Thursday by the National Association of Realtors (NAR). Compared to a month prior, contract signings fell 5.5% in December, with the Pending Home Sales Index coming in at a reading of 74.4. An index reading of 100 is equal to the level of contract signings in 2001. Annually, pending home sales were down 5.0% compared to a year prior in December.

Contracts 433
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Which U.S. Metros Boast the Most Affordable Rates for Renters? 

Appraisal Buzz

According to a recent Redfin survey, renters must make $63,680 to cover the median asking rent for a U.S. apartment ($1,592), the lowest amount required since March 2022. That represents a 6.4% decrease from August 2022, when the median asking rent reached an all-time high of $1,700, and a 0.4% decrease from a year ago. The average apartment would have cost $68,000 to rent back then, which is almost $5,000 more than it is now.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Pending home sales decline 5.5% following months of growth

Inman

The Pending Home Sales Index (PHSI), which tracks contract signings as a measure of future home sales, fell 5.5 percent to 74.2 in December, according to data released Thursday by the National Association of Realtors.

Contracts 173
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A strong finish for new home sales in December

Real Estate News

Sales were up at the end of 2024, and for the full year, increased by 2.5% over 2023 in contrast to existing home sales, which fell short of 2023 numbers.

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Mr. Cooper agreed to a $5.8 million settlement. Who is eligible for relief?

Housing Wire

Nationstar Mortgage currently doing business as Mr. Cooper has agreed to settle a lawsuit which alleges that the company violated mortgage servicing laws and forced borrowers into foreclosure. Attorneys general and mortgage regulators in 50 states, as well the District of Columbia, agreed to a settlement that requires Mr. Cooper to provide $5.8 million in payments to eligible borrowers.

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Red Tape Held Back December Housing Construction

Appraisal Buzz

The U.S. Census Bureau and the U.S. Department of Housing & Urban Development (HUD) have released their new residential sales statistics for December 2024 , which found that sales of new single-family homes were at a seasonally adjusted annual rate of 698,0003.6% above the revised November rate of 674,000, and 6.7% above the December 2023 estimate of 654,000.

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The expanding role of micro-units in property renting

Inman

Despite challenges, municipalities are increasingly open to micro-unit developments as they seek innovative solutions to the affordability crisis, multifamily expert Michael Zaransky writes.

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New telemarketing rules on hold after appeals court ruling

Real Estate News

Less stringent requirements for consumer contact will stay in place for a year, FCC says, as it delays TCPA changes that wouldve required one-to-one consent.

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Protecting remote access with multi-factor authentication

Housing Wire

Remote work has become indispensable in todays interconnected environment. Yet the convenience of working outside a centralized office also expands the potential for cyber threats. This installment of our Reducing Risk series examines how Multi-Factor Authentication (MFA) can help protect your remote access systems, reduce the risk of unauthorized access, and strengthen overall cybersecurity.

Training 350
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CFPB Puts Cash-Out Refi Trends Under the Microscope

Appraisal Buzz

A report on the financial results for borrowers of cash-out refinance mortgages has been released by the Consumer Financial Protection Bureau (CFPB). Credit scores for cash-out debtors first improved significantly before progressively declining. However, overall scores continued to be higher than they were before to the refinance. According to CFPB research, debtors frequently use the proceeds from cash-out refinances to settle other debts, especially credit card and auto loan debt.

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RE/MAX Properties and RE/MAX Advantage Realty officially merge

Inman

Led by Tony and Brooke Clement or RE/MAX Properties and Scott and Traci O'Connor of RE/MAX Advantage, the newly combined firm brings over 65 years of real estate expertise.

Realty 162
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Unlock MLS to allow non-Realtor access

Real Estate News

The CEO of the Austin-based multiple listing service wants subscribers to know we value the ability for them to choose whats best for their business.

Realtors 242
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Home inventory levels are showing strong signs. Can it continue?

Housing Wire

Rising mortgage rates that are now above 7% have continued in January. But there may be some improvement on the horizon as newly listed home inventory grew 37.5% from December, according to a Realtor.com report released Thursday and certain cities and regions are moving much faster than others. When compared to the same month a year ago, 24.6% more homes were actively listed for sale on a given day in January, following a 15-month trend of higher annualized inventory levels.

Inventory 367
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Non-Mortgage Homeownership Costs Shock First-Time Buyers

Appraisal Buzz

For many Americans, owning a home signifies independence, stability, and the opportunity to accumulate long-term wealth, among other things. Homeowners, however, are aware that although those advantages are genuine, they are not given away for free. The American Dream has long been considered one of the pinnacles of success, and owning a home remains a popular and important aspiration for tens of millions of Americansregardless of whether they are renting, living with relatives or friends, or su

Buyers 335
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Your social media blueprint from a 22-year-old real estate prodigy

Inman

Learn the social media secrets of Omer Reshid, a powerhouse real estate pro and social media expert who shares his insights with Real's Jimmy Burgess.

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More agents are using AI — and fewer brokerages are worried

Real Estate News

Real estate leaders are getting more comfortable with artificial intelligence and expect it to redefine operational efficiency in 2025, a new survey found.

Brokerage 245
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Will we see home prices decline in 2025?

Housing Wire

Recently, weve shared that the inventory of unsold homes is growing. In recent weeks, home sales also faltered in the face of 7% mortgage rates. Now were noticing some signals in the data that national home prices could turn negative this spring, showing year-over-year home-price declines for the first time since early 2023. There are already plenty of markets nationwide where the inventory of unsold homes has built up over the past few years and home prices have ticked down.

Inventory 389
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New Year Brings New Supply as Seller Activity Shifts

Appraisal Buzz

According to the Realtor.com January Monthly Housing Report, January saw a positive shift in seller activity despite recent hikes in mortgage rates, with the number of newly listed homes increasing 37.5% month-over-month. Sacramento, CA (+31.7%), Phoenix (+27.3%), and Seattle, WA (+24.7%), saw the biggest increases in newly listed homes this month compared to the same period last year among the top 50 metro areas.

Sellers 332
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Agents embrace private listing networks. Consumers? Not yet

Inman

Sixty-nine percent of agents since 2020 have recommended their sellers list on a private listing network. However, sellers still favor listing on the multiple listing service, a Zillow survey said.

Agents 172
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Cue the sad trombone as pending sales reverse course

Real Estate News

A 4-month streak of gains seemed to be setting up a strong start to the new year, but sales slipped in December not welcome news for hopeful agents.

Agents 229
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Why title insurance is essential to the U.S. system of property rights

Housing Wire

The U.S. system for the transfer of real estate is unique in the world. We transfer ownership by private contract between parties; no advance government approval is required. By contrast, many European countries have a centralized, government-managed land registration system, which requires government review before property transfers are effective. Among the many benefits of the U.S. system are the speed of the transfer, which in our system depends only on the parties being ready to close.

Insurance 409
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Q4 Home Equity Holds Steady Nationwide

Appraisal Buzz

ATTOM has released its Q4 2024 U.S. Home Equity & Underwater Report , which shows that 47.7% of mortgaged residential properties in the U.S. were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. That level was down slightly from 48.3% in Q3 of 2024, and from a recent peak of 49.2% in the prior three-month period.

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MLS PIN pushes back against DOJ in advance of settlement hearing

Inman

The court will consider approving the latest deal in the case, which allows commission sharing in the multiple listing system.

Realtors 165
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Milestones: Startup offers Buyer Listing Service to MLSs

Real Estate News

Buy-side tool is a full-featured transaction creation platform for agents. Plus, Doorify and Canopy MLSs integrate new tech; REdistribute adds board member.

Buyers 218
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New homes account for the highest share of sales since 2005

Housing Wire

The housing market in 2024 was about as frustrating for the real estate industry as you can imagine. High mortgage rates, low inventory and sky-high prices resulted in historically low sales at a time when agents are already wrestling with the changes related to the $418 million antitrust settlement signed by the National Association of Realtors (NAR).

Sellers 382