Housing Wire
NOVEMBER 4, 2023
After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? The history of economic cycles and mortgage rates would say yes, but only if the market believes the Federal Reserve is done hiking rates and being hawkish and the labor data gets softer from here.
Sacramento Appraisal Blog
NOVEMBER 8, 2023
What’s going to happen to the housing market with a presidential election year coming? There are so many ideas. I’ve heard stuff like, “Rates usually go down during a presidential year,” or “The market is likely going to be stronger because one party is trying to stay in power.” But are these things really true? […] The post The housing market during a presidential election year first appeared on Sacramento Appraisal Blog.
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Real Estate News
NOVEMBER 4, 2023
Following the Sitzer/Burnett verdict, the internet has been buzzing about the end of buyer agency. Industry expert Russ Cofano says that's just a lot of noise.
George Dell
NOVEMBER 8, 2023
Market value or comparable value? What does that mean? It means we form market value opinions. Specifically, credible market value opinions. Credible in this case must mean more than merely “…worthy of belief…” since USPAP contains no indication of who’s belief we seek. It means, therefore, worthy of the market’s belief since the market is […] The post Market Value Or Comparable Value?
Housing Wire
NOVEMBER 7, 2023
Banks have tightened lending standards for most categories of residential real estate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The tightening came amid elevated interest rates and uncertainty in economic conditions. A survey taken by the Federal Reserve showed that a 20%-plus share of banks reported having tightened standards on non-qualified-mortgage (non-QM) jumbo residential loans (23.9%), QM jumbo loans (26%), non-QM non-jumbo (20.4%) and HELOCs (2
The Appraiser Coach
NOVEMBER 7, 2023
Getting older got you thinking about retirement? Well, hopefully this isn’t the first time it’s crossed your mind. It’s never too early to think about what you want your job to look like long term. And the ideal retirement plan might look different for you than it does your neighbor. Maybe you have a last day, turn in your keys, buy an RV and travel the country.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
NOVEMBER 8, 2023
In recognition of the entrepreneurs, venture capitalists and visionaries pushing real estate forward, the "Best of Proptech" honors cap the yearlong expansion of Inman's awards program.
Housing Wire
NOVEMBER 10, 2023
It appears that no real estate brokerage firm in the U.S. is safe from a commission lawsuit. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. District Court in the Southern District of New York, alleging that Real Estate Board of New York rules governing the multiple listing service in Manhattan kept commissions high and violated state and federal antitrust laws.
Eyes on Housing
NOVEMBER 9, 2023
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.4% of new and existing homes sold between the beginning of July and end of September.
Real Estate News
NOVEMBER 6, 2023
In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.
Inman
NOVEMBER 10, 2023
In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases.
Housing Wire
NOVEMBER 9, 2023
As 10-year Treasury yields tumbled, the average 30-year fixed mortgage fell 26 basis points in the week ending Nov. 9, the largest one-week decrease since last November. The 30-year, fixed mortgage averaged 7.5% as of Nov. 9, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.76% and up from 7.08% the same week a year ago.
Realtor
NOVEMBER 7, 2023
iStock The costs of buying a home go well beyond the actual purchase price. If you’re a first-time home buyer , you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. And after the color returns to your face, you might also be a little more than perplexed by some of those fees. Knowing what you’re paying for when you’re buying a home—like these 10 costs of buying a home—can ease that check-writing pain.
Real Estate News
NOVEMBER 7, 2023
During a webinar, T3 Sixty leaders acknowledged that emotions are running high as they talked through potential implications of the Sitzer/Burnett verdict.
Inman
NOVEMBER 10, 2023
Now is the time when connections serve as the bridge to the future. Inman Connect is more than a name; it's a call to action. It's an opportunity to collaborate beyond individual brands, connect ideas, forge partnerships, and navigate the transformative terrain of the real estate industry.
Housing Wire
NOVEMBER 9, 2023
A total of 2,256 homebuyer assistance programs are available in the U.S. housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Among the available homebuyer assistance programs were 295 that allow borrowers to lower their interest rates by paying an upfront fee, according to DPR’s homeownership program index report.
Eyes on Housing
NOVEMBER 7, 2023
Porches have been a popular home feature, consistently ranking in the top 10 in the NAHB surveys of recent and prospective home buyers published in What Home Buyers Really Want. And porches remain as popular as ever specifically on new homes, according to NAHB tabulation of the latest Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial.
Real Estate News
NOVEMBER 6, 2023
More settlements and MLS changes are coming, the CEOs of NextHome and T3 Sixty say. Agents need training, and they’re not the only ones.
Inman
NOVEMBER 7, 2023
According to Instagram marketing expert Michelle Berman-Mikel, saying the right thing, then moving the conversation into the real world, can allow you to create a social media strategy that converts.
Housing Wire
NOVEMBER 7, 2023
The guilty verdict of the landmark Sitzer/Burnett commission lawsuit case sent shockwaves across the real estate industry. In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% down.
Eyes on Housing
NOVEMBER 8, 2023
Consumer credit outstanding growth slowed to 0.4% in the third quarter of 2023 (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report, as revolving debt grew 8.6% and nonrevolving debt declined 2.4%. On a monthly basis, revolving credit outstanding increased just 3.0% in September after surging 14.6% in August (SAAR). Total consumer credit outstanding stands at $4.98 trillion.
Real Estate News
NOVEMBER 7, 2023
Lance Lambert, former real estate editor at Fortune, discussed his theory of the market’s headwinds and tailwinds — and the “tug-of-war” they’re playing.
Inman
NOVEMBER 6, 2023
Believe it or not, there are less than two months left in 2023. And there’s no better time than right now for real estate agents to evaluate their recent productivity and establish the framework for success in the year ahead.
Housing Wire
NOVEMBER 10, 2023
With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. But it’s not all grim news. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.
Eyes on Housing
NOVEMBER 8, 2023
Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 3rd, total mortgage activity increased 2.5% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate fell 25 basis points to 7.61%. The FRM rate has decreased by 6 basis points over the past month but has hovered between 7.5% and 8.0% for six consecutive weeks.
Real Estate News
NOVEMBER 10, 2023
In a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.
Inman
NOVEMBER 9, 2023
Realtor.com parent company Move Inc.'s revenue declined 16 percent to $142 million in the fiscal first quarter. Despite the loss, CEO Robert Thomson remained bullish about the portal's long-term prospects.
Housing Wire
NOVEMBER 8, 2023
While the last months of the year can be a hectic time in your professional and personal life, it’s also the ideal time to make strategic money moves for a more prosperous New Year. Here’s a financial checklist that real estate agents and mortgage professionals should complete before the end of the year for more success and financial security in 2024. 7 money moves for a prosperous New Year Use these seven tips to save money, get additional tax benefits and make the most of your ins
GoForrmz
NOVEMBER 7, 2023
Originally published on 02/22/2019 GoFormz makes it incredibly easy to digitize your forms, automate your communication and collaboration, and run reports on your collected data Staying ahead of the competition often depends on the ability to process information quickly, communicate seamlessly, and respond to challenges and opportunities accurately.
Real Estate News
NOVEMBER 9, 2023
Mortgage rates took a dive this week, experiencing the largest one-week decline in a year.
Inman
NOVEMBER 8, 2023
While others are downsizing, the nation's biggest mortgage lender is investing in new technology and hiring new team members to be prepared if mortgage rates come down and business booms.
Housing Wire
NOVEMBER 7, 2023
In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but by focusing narrowly on the risk posed by banks, it would likely increase risk in the mortgage market. The proposal would make it more expensive for large banks to hold, sell or service mortgages, reinforcing their now decade-long retreat from mortgage lending.
Appraiserblogs
NOVEMBER 7, 2023
So what’s caused the sudden loss of income? Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. The goal was to collect enough property data to effectively remove appraisers from the home buying and refinancing process.
Real Estate News
NOVEMBER 10, 2023
Zillow, Redfin and CoStar assured investors that they can withstand “massive disruption,” while others discussed efficiencies and even some avenues for growth.
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