Sat.Feb 03, 2024 - Fri.Feb 09, 2024

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How will mortgage rates impact seasonal inventory in 2024?

Housing Wire

How will mortgage rates impact seasonal inventory in 2024? Is the seasonal bottom going to happen later than I want? Maybe. It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. In the last four years, we have had abnormal seasonal inventory data, meaning that the spring inventory bottom happens later in the year.

Inventory 515
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The tiny but growing trend of assuming the loan

Sacramento Appraisal Blog

Look, assumable loans are basically eye candy in real estate because they’re so rare, but they’re actually starting to happen more. So, let’s talk about it. This post won’t go into details about requirements or how the process works, but I want to highlight this tiny but growing trend in the Sacramento region. UPCOMING SPEAKING […] The post The tiny but growing trend of assuming the loan first appeared on Sacramento Appraisal Blog.

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The real estate companies going all in on Super Bowl Sunday

Real Estate News

Homes.com will run four new ads during the big event while Opendoor will livestream a real homeowner doing a virtual walkthrough during halftime.

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Why MPI(c)?

George Dell

MPI© (Market Price Indexing) is a holistic approach to market analysis and “time adjustments.” Here we look at the process, the theory, the judgment, and the benefits of this model. MPI – The process involves simple mechanics: Download the relevant competitive market data. Create a scatterplot with sale prices over time. Clean the data of […] The post Why MPI(c)?

Marketing 195
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No Fed pivot in sight as Powell addresses rate cuts on 60 Minutes

Housing Wire

There was rampant speculation after the Federal Open Market Committee (FOMC) meeting last week about the timing and number of interest rate cuts this year. In a follow-up interview on 60 Minutes on Sunday, Federal Reserve Chairman Jerome Powell did not sound like someone who has pivoted. In fact, Powell believes the Fed can wait until it sees more labor damage before cutting the Federal Funds Rate aggressively or moving toward a neutral policy stance, saying again that a March rate cut is “

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Turn “Time is Money” On Its Head

The Appraiser Coach

In a Mastermind meeting with other (non-appraiser) business owners, I was reminded of how well so many principles that I share with you apply across different areas, whether it’s real estate or office work. There was a man by the name of Jack who was talking about how much he has to do. He’s constantly taking calls and responding to emails, without time to rest.

Law 195

More Trending

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Anywhere expands board with investment firm leader Joseph Lenz

Inman

Joseph Lenz is a managing director and co-head of research at TPG Angelo Gordon. He becomes the 13th member of Anywhere's board this week after the franchising giant added a seat.

Investing 193
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Housing credit data in Q4 looks nothing like 2008

Housing Wire

People have been screaming about a housing bubble crash on social media sites for over 12 years. The truth is, U.S. housing credit looks very different than in 2005, 2006, 2007 or 2008. Homeowners have actually never looked better and the data from the Federal Reserve ‘s Quarterly Report on Household Debt and Credit shows why. Homeowners are not the people we need to be concerned about this time.

Legal 472
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928 The Appraiser Coach Has a New Website

The Appraiser Coach

Much easier to navigate and much easier to understand. The Appraiser Coach has a new website. Check it out at www.theappraisercoach.com Check out this episode!

Appraisal 150
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‘Lifeline’ grants aim to increase homeownership

Real Estate News

Freddie Mac and Chase have made recent changes to their down payment assistance programs which could help more low-income buyers enter the market.

Buyers 295
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HomeServices wants US Supreme Court to weigh Sitzer | Burnett case

Inman

The franchisor filed a petition to the Supreme Court on Friday requesting the review of an earlier appeals court ruling barring it from enforcing arbitration agreements signed by seller clients.

Sellers 191
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Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. There’s some optimism, however. With the central bank expected to cut interest rates this year, banks reported that loan demand should strengthen across residential loan categories in 2024, according to the Fed’s quarterly senior loan officer opinion survey (SLOOS) released on Monday.

Lending 475
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Housing Affordability Remains Near Historic Low Level

Eyes on Housing

Mortgage rates that hit more than a 20-year high, coupled with elevated construction costs and excessive regulatory costs, left housing affordability in the fourth quarter of 2023 virtually unchanged from the previous quarter and holding near its lowest level in more than a decade. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), just 37.7%.

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‘We had a really good run’ says Maui brokerage owner

Real Estate News

After six years on the island, broker Chris Speicher says the real estate business remains paralyzed, prompting his “heart-wrenching” decision to leave.

Brokerage 281
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7 new real estate books that should be on your reading list

Inman

Whether looking for advice as a new agent, as a real estate investor, or as a seasoned agent, these seven new releases by established industry names can offer a lending hand when it comes to pushing your business to the next level.

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Annual home price gains may have reached cycle peak: CoreLogic

Housing Wire

U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic ’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022, but is in line with the pre-pandemic rate of 3.9% in 2019.

Inventory 469
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Class Valuation Maximizing ROV Conversion Rates

Appraiserblogs

It’s truly mind-boggling that a company would brag about their higher ROV conversion rates for the ROV process as if it’s some kind of badge of honor. Recently, Class Valuation took to social media to boast about their Reconsideration of Value’s process (ROVs), claiming higher conversion rates and urging clients to choose them for a confident closing.

Valuation 140
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NAR ends January with 1.515 million members, a loss of 38k

Real Estate News

This marks the third straight month with a drop, but the association’s chief economist said membership is “holding on much better than market dynamics suggest.

Marketing 254
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CoStar to spend a billion dollars on marketing in fight for portal crown

Inman

The company plans to advertise during the Super Bowl and other major cultural events in what it describes as the "biggest marketing campaign in real estate history.

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Mortgage demand ticks up on the strength of purchase applications

Housing Wire

Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% during the week ending Feb. 2 on a seasonally adjusted basis, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.

Mortgage 467
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Homeownership Rates by Race and Ethnicity

Eyes on Housing

The latest CPS/HVS data shows that the overall homeownership rate was 65.7% in the last quarter of 2023. This was 3.5 percentage points lower from the peak of 69.4% in 2004. In this post, we focus on the homeownership rates by race and ethnicity over the past decade. According to data from the Census Bureau, homeownership in the U.S. varies.

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Longtime MLS leader 'still passionate,' sees big changes ahead

Real Estate News

Stellar MLS CEO Merri Jo Cowen reflects on 40 years in the industry, what consumers don’t know about MLSs, and the need for a thoughtful approach to AI.

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CoStar takes portal war to YouTube, promises new platform

Inman

In three star-studded advertisements for Homes.com that appeared on YouTube over the weekend, the CoStar Group teases a "revolutionized" shopping experience ahead of Super Bowl Sunday.

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Mortgage rates surpass 7% for the first time since December

Housing Wire

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. The 30-year conforming fixed mortgage rate was at 7.04% on Mortgage News Daily and 6.91% on HousingWire’s Mortgage Rate Center. It’s the first time since December that the average 30-year fixed rate has eclipsed 7%.

Mortgage 469
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Higher Rates and Lack of Supply Continue to Hamper Mortgage Market

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending February 2nd, total mortgage activity increased 3.7% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate rose two basis points to 6.80%. The 30-year FRM has floated around 6.8% for much of the start of the year, only moving one basis point from January.

Mortgage 138
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Why brokerage mergers are about buying ‘hope’

Real Estate News

A consultant and former Anywhere exec breaks down the actions investors should take when looking to acquire or merge with other real estate firms.

Brokerage 258
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Corcoran reels back Marcus-Wells Team, more agents, from Compass

Inman

In the ongoing tug-of-war for top agents, Corcoran Group has wrestled back eight boomerang agents from Compass and recruited an additional eight agents from Compass to the New York City-based brand.

Agents 188
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Assumable mortgages grow in  popularity, but hurdles remain

Housing Wire

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. But a landscape of strict regulations, product limitations and operational inefficiencies hamper its widespread adoption. Assumable mortgages remain a niche market compared to new mortgage issuance. But these transactions have grown recently.

Mortgage 444
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Shane Lanham Countersuing Black Homeowners for Defamation

Appraiserblogs

Shane Lanham, a Maryland appraiser, has found himself in a difficult situation as he is being sued in The United States District Court of Maryland. However, he is not backing down and fully intends to fight these allegations through trial. In addition, he is countersuing the accusers for defamation and seeking $500,000 in damages. Lanham firmly believes that the accusations of racism against him are baseless and he has engaged a consultant with significant experience in handling such cases.

Appraisal 129
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Consumer sentiment up as mortgage rate optimism hits record high

Real Estate News

Fannie Mae’s monthly survey found that, for the first time, a greater share of consumers expects rates to fall in the next 12 months.

Mortgage 267
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Falling rates helped drive home price growth in Q4, NAR says

Inman

U.S. home prices shot up in 86 percent of the 221 metropolitan areas tracked by the National Association of Realtors and rose 3.5 percent in the fourth quarter, according to data released Thursday by NAR.

Realtors 185
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Positive signs abound for 2024 housing market: ICE

Housing Wire

Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan. 24, down more than a full percentage point since their peak in October, the report noted.

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Gains for Student Housing Construction

Eyes on Housing

According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories inched up 1.2% to a seasonally adjusted annual rate (SAAR) of $3.96 billion in the last quarter of 2023, after a 5.5% increase in the third quarter. Private fixed investment in dorms was 10.2% higher than a year ago, but still slightly below.

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Brokerage Beat: News from Real, E&V, @properties, Corcoran, more

Real Estate News

Real snags top SoCal team; E&V enters New Hampshire; @properties expands in Michigan; Brooklyn-based Corcoran team grows; "Most-trusted" firms ranked; more.

Brokerage 241