Appraisal Buzz
NOVEMBER 19, 2024
The American Dream has long been synonymous with homeownership. However, for many low- and moderate-income families, realizing this dream is becoming increasingly out of reach. This is due to several factors, including rising housing costs, stagnant wages, and a decline in the availability of small-dollar mortgages, defined as those for homes priced at $150,000 or below.
Housing Wire
NOVEMBER 19, 2024
We heard a lot about the need for millions of new homes during the run-up to the election, so I can imagine how shocked some people are to see today’s report on housing starts and permits at recession levels. Minneapolis Fed President Neel Kashkari recently stated that housing demand is high so the clearance rate (mortgage rates) should be higher.
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Sacramento Appraisal Blog
NOVEMBER 19, 2024
The internet has been buzzing this week about Governor Newsom’s new $9.1M home purchase, so let’s talk about it. But I want to be clear that this is about real estate – not politics. Also, I think modest price growth is a really good way to describe the market. UPCOMING SPEAKING GIGS: 11/20/24 Delia Real […] The post Modest price growth & the Governor’s outlier properties first appeared on Sacramento Appraisal Blog.
Inman
NOVEMBER 18, 2024
Nearly three-quarters of U.S. residents earning less than $50,000 annually are struggling to keep up with monthly rent or mortgage payments, causing many to make dramatic sacrifices to stay afloat.
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Appraisal Buzz
NOVEMBER 22, 2024
Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. The bi-annual report reveals a resilient luxury real estate market in the first six months of 2024 that is slightly outpacing performance from the equivalent period in 2023.
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Eyes on Housing
NOVEMBER 19, 2024
Housing starts edged lower last month as average monthly mortgage rates increased a quarter-point from 6.18% to 6.43% between September and October, according to Freddie Mac. Overall housing starts decreased 3.1% in October to a seasonally adjusted annual rate of 1.31 million units, according to a report from the U.S. Department of Housing and Urban.
Inman
NOVEMBER 21, 2024
Chris Pollinger and designer Samantha Senia share the top 2025 design trends redefining luxury homes — from sustainable reclaimed wood tables to statement lounge chairs.
Appraisal Buzz
NOVEMBER 21, 2024
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2024 shows mortgage applications for new home purchases increased 8.2 percent compared from a year ago. Compared to September 2024, applications increased by 3 percent. This change does not include any adjustment for typical seasonal patterns. “New home purchase activity picked up in October even as stronger economic data and election uncertainty pushed mortgage rates higher over the course of the month,” sa
Housing Wire
NOVEMBER 21, 2024
Home prices firmed up in today’s existing home sales report , but we caught on to this trend two months ago with our Housing Market Tracker. Traditionally, home prices soften in the second half of the year and I had counted on this for my price forecast , which predicted 2.33% home-price growth for 2024. However, that didn’t happen. The difference is mortgage rates: even with inventory growing at a healthy clip this year, mortgage rates just heading down toward 6% for a brief period of tim
Speaker: Dylan Secrest
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Eyes on Housing
NOVEMBER 21, 2024
Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached a 2-year low in late September, according to the National Association of Realtors (NAR). While elevated home prices persist due to the lock-in effect, we.
Real Estate News
NOVEMBER 18, 2024
Leaders spent thousands on Hamilton tickets and other luxuries with corporate credit cards, as former execs stayed on the payroll, The New York Times reported.
Appraisal Buzz
NOVEMBER 22, 2024
According to the Q3 2024 Verisk Remodel Index , the cost of home repairs and remodeling in the third quarter of 2024 continued to increase, rising by 1.08% quarter-over-quarter, and just over 3.35% from the third quarter of. Costs set new highs for the past decade, rising over 69.5% from Q1 of 2013. “Repair and remodeling costs continue to increase across the country, but the rate of increase is returning to pre-pandemic levels,” said Greg Pyne, VP, Pricing for Verisk Property Estimating Solutio
Housing Wire
NOVEMBER 20, 2024
Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. As real estate agents adjust to sweeping changes brought by the commission lawsuit settlement, a new report from discount brokerage Clever Real Estate reveals one thing hasn’t shifted: Americans still overwhelmingly trust full-service agents to sell their homes.
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Eyes on Housing
NOVEMBER 21, 2024
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates relatively flat conditions for custom home builders after a period slight softening of market share due to declining mortgage interest rates. However, post-election stock market gains should support custom building at the end of 2024 and going into 2025.
Inman
NOVEMBER 18, 2024
The Agency CEO this week predicted more change ahead for the real estate industry, said agents are angry, and argued in favor of raising the bar for obtaining a real estate license.
Appraisal Buzz
NOVEMBER 21, 2024
Nearly one in seven (13.7%) home hunters say a concern for natural disasters or climate risks in their area is a reason they are likely to move in the next year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Even more (17.5%) say a concern for safety/crime is prompting them to move. That’s according to a Redfin-commissioned survey conducted by Ipsos in September 2024.
Housing Wire
NOVEMBER 21, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. First impressions matter, especially when it comes to your listing’s exterior. Curb appeal sets the tone for potential buyers before they even step inside, shaping how welcoming and well-maintained a property feels.
Real Estate News
NOVEMBER 19, 2024
The new, lower-cost program also includes access to legal forms and training, and is being rolled out as NAR’s three-way agreement faces greater scrutiny.
Eyes on Housing
NOVEMBER 19, 2024
Year-over-year gains for townhouse construction continued during the third quarter of 2024 as demand for medium-density housing continues to be solid despite slowing for other sectors of the building industry. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the third quarter of 2024, single-family attached starts.
Appraisal Buzz
NOVEMBER 18, 2024
As a founder / CEO, I’ve seen my fair share of market cycles. Today, I want to dive deep into the current rental market environment, share some personal insights, and most importantly, discuss how we can address these challenges head-on. A Cautionary Tale from 2013 Let me start with a personal story. In 2013, I acquired an apartment complex in Austell, Georgia.
Housing Wire
NOVEMBER 22, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. The real estate market is constantly shifting, and today’s market calls for agents to return to the more tried-and-true marketing strategies. While the post-COVID market saw homes selling at record speeds, recent changes have shown us the importance of foundational tactics for success.
Real Estate News
NOVEMBER 22, 2024
Chronic undersupply has led to an affordability crisis, but real estate professionals can help by supporting new development in their communities, experts say.
Eyes on Housing
NOVEMBER 21, 2024
In another sign of America’s ongoing housing affordability crisis, the National Association of Home Builders /Wells Fargo Cost of Housing Index (CHI) found that in the third quarter of 2024, a family earning the nation’s median income of $97,800 needed 38% of their income to cover the mortgage payment on a median-priced new home. Low-income.
Appraisal Buzz
NOVEMBER 20, 2024
Mortgage credit availability increased in October according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology. The MCAI rose by 0.7 percent to 99.2 in October. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Housing Wire
NOVEMBER 21, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. In this article, we’ve gathered 30 real estate text message scripts designed to help you connect with leads, nurture relationships, and get more deals to the closing table this coming year. When it comes to selling real estate, communication and timing can make or break your success.
Real Estate News
NOVEMBER 21, 2024
The turnaround for existing sales came at a time when mortgage rates were closer to 6%. With rates on the rise, economists are dialing back sales forecasts.
Eyes on Housing
NOVEMBER 18, 2024
Lending standards were essentially unchanged for all residential mortgage categories in the third quarter of 2024, except for Subprime loans, according to the Federal Reserve Board’s October 2024 Senior Loan Officer Opinion Survey (SLOOS). Demand for most residential mortgage loans remained weaker across all categories in the quarter. Lending conditions for commercial real estate (CRE) loans were.
Appraisal Buzz
NOVEMBER 21, 2024
A new poll of 1,000 adults by the Amherst Group has found that four out of five Americans (81%) would live in a modular home, as nearly all surveyed (90%) found something appealing about those homes, and more than 70% interested in seeing more alternative types of housing in their neighborhood. For the study, Amherst Group defines “modular housing” as traditional homes precision-built offsite and placed on a permanent foundation.
Housing Wire
NOVEMBER 22, 2024
As low inventory levels, elevated mortgage rates and rising home prices keep the housing industry stagnant, short-term real estate investors — aka fix-and-flippers — faced market turmoil during the third quarter of 2024. Fix-and-flip lender Kiavi , in partnership with John Burns Research and Consulting , released its Q3 2024 fix-and-flip market report this week.
Real Estate News
NOVEMBER 20, 2024
The reversal follows 14 years of larger gains for homes in high-risk areas, suggesting that buyers may be less willing to move to disaster-prone regions.
GoForrmz
NOVEMBER 21, 2024
Leveraging digital tools to streamline construction projects and minimize delays Anyone in the construction industry knows that delays can be costly. Every setback chips away at profit margins and timelines, whether due to unexpected weather, supply chain issues, or miscommunication among teams. However, one solution is transforming the way construction projects are managed: real-time data capture.
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