Housing Wire
JULY 26, 2024
Secure payment provider Payload is launching a new payment and billing tool specifically geared to buyer agents , according to an announcement on Thursday. In a release, Payload said it created the solution in response to the terms of the National Association of Realtors’ nationwide commission lawsu it settlement agreement , and the potential changes to buyer agent compensation.
Appraisal Buzz
JULY 24, 2024
Nearly two-thirds (64.7%) of homes on the market in June had been listed for at least 30 days without going under contract, according to a new report from Redfin, a technology-powered real estate brokerage. This marks an increase from 59.6% year-over-year, the largest annual rise in a year and the highest share for any June since 2020. June marked the fourth consecutive month in which the proportion of homes lingering on the market for at least a month increased year-over-year.
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Real Estate News
JULY 24, 2024
A sequel to the industry-challenging assessment is expected in early 2025 and will focus on the future. “The time is now for the industry to transform itself.
Inman
JULY 25, 2024
New reports from "The New York Times" and "The Wall Street Journal" suggest that executives at Douglas Elliman and Side had heard about sexual assault allegations made against the Alexander brothers while they worked for their firms.
Housing Wire
JULY 23, 2024
Sinking sales, rapidly rising inventory and prices at all-time highs — this is the state of the market for existing homes. That’s according to June’s existing-home sales data from the National Association of Realtors (NAR), which reflect the problems that have hampered housing markets since mortgage rates began to rise in 2022. Sales of existing homes in June fell 5.4% year over year and month over month to a seasonally adjusted rate of 3.89 million.
Appraisal Buzz
JULY 24, 2024
One of the few good things to come from the 2020 COVID-19 pandemic was ultra-low mortgage rates that hovered around 3%, in part due to the Federal Reserve slashing interest rates to 0% in order to keep the economy afloat. But those low rates, considered a great deal at the time, has caused unintended and unexpected consequences. The main consequence of these low rates is something called the “lock-in effect” caused by homeowners with those pandemic-era 3% interest rates making the choice to sta
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Inman
JULY 24, 2024
CoStar Group has put former Realtor.com News and Insights editor James Kaminsky on leave in response to Move's objections to sharing confidential information amid its trade secrets lawsuit.
Housing Wire
JULY 25, 2024
Mr. Cooper Group has struck a deal to acquire a third-party origination (TPO) platform and $356 billion in mortgage servicing rights (MSRs), advances and subservicing contracts from Flagstar Bank , owned by New York Community Bancorp (NYCB). As part of the deal, the Dallas-based servicer and lender will pay $1.4 billion in cash, funded via available cash and drawdowns of existing MSR lines.
Appraisal Buzz
JULY 23, 2024
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Real Estate News
JULY 22, 2024
A letter to the state’s Realtor association also calls out consumer complaints about being “ensnared in contracts with brokers” they don’t want to work with.
Inman
JULY 24, 2024
Seven executive hires in 2024 include Dana Abernathy, who will expand the company's servicing operations, and Mike Iorio, who is tasked with growing homebuilder partnerships.
Housing Wire
JULY 23, 2024
Today’s existing home sales report shows that the existing home market is now almost balanced. That might sound strange, but like most things I do, I have a model for it. We are very close to getting this balance nationally and in some markets we’re already there. I have often discussed four months of supply and active inventory between 1.52 and 1.93 million as a balanced market, but this equation has a second variable tied to today’s housing economics: affordability.
Appraisal Buzz
JULY 22, 2024
RentCafe has analyzed the nation’s rental market for the first half of 2024, ranking the most sought-after markets for rentals. With high home prices and limited housing options making renting a preferred choice for many, RentCafe took a deeper look at which cities have received the most attention from renters in the first half of 2024. Claiming the top spot for the fifth time in the past six months was Minneapolis which attracted the highest online engagement on RentCafe.com.
Real Estate News
JULY 22, 2024
Former eXp Chief Growth Officer Michael Valdes will spearhead the international expansion of LPT Realty, which he says is perfecting the model eXp pioneered.
Inman
JULY 24, 2024
Applications for purchase mortgages dropped last week for the second week in a row as rising home prices continue to shut many would-be homebuyers out of the market.
Housing Wire
JULY 24, 2024
While there is no doubt that the Florida housing market has slowed since the height of the post-pandemic homebuying boom, the state’s condominium market has been especially hard hit, according to local agents. “It has definitely slowed,” said Cyndee Haydon , a Seminole-based agent for Future Home Realty. “Inventory has gone from a three-month supply a year ago to at least six months, so really we are into a buyers’ market now.
Appraisal Buzz
JULY 24, 2024
Matic has published its mid-year premium trends study , which examines trends in homeownership from 2024’s first half. The report highlights significant challenges faced by homeowners, mortgage entities, and the housing market as a whole due to record premium increases, ongoing new business restrictions, and carrier exits. It draws from a dataset of 36 million quote requests, 10 million properties, and external quoting engines.
Real Estate News
JULY 22, 2024
The profit-share program, which made headlines last year after the company proposed changes, hit a new milestone with the multibillion-dollar figure.
Inman
JULY 25, 2024
The merger with the team managed by Esther Ozuna continues the growth of an Atlanta team that has ranked among the RealTrends 100 nationally in recent years.
Housing Wire
JULY 25, 2024
Home insurance premiums have risen by as much as $865 this year for homeowners who originally purchased their policies in 2021. In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers. This is according to a new report published by Matic , which aims to assess the impacts of these realities on a highly volatile home insurance market. “The combination of climate c
Appraisal Buzz
JULY 22, 2024
DocMagic Founder, President and CEO Dominic Iannitti DocMagic has issued a release announcing the passing of its Founder, President and CEO Dominic Iannitti , who passed away unexpectedly last Thursday morning due to complications from pneumonia. An innovator and prominent figure within the mortgage industry, Iannitti founded DocMagic Inc. in 1987, with a vision to streamline the mortgage process and eliminate the reliance on.
Real Estate News
JULY 25, 2024
Mortgage rates remained nearly flat as the market awaits the Fed’s next move. Meanwhile, inventory is still growing — but “sellers are pulling back.
Inman
JULY 22, 2024
The company celebrated during a live "growth call" with leaders from more than 1,000 franchisees in the U.S. and Canada. Nearly 150 KW agents have earned more than $1 million in lifetime profit share.
Housing Wire
JULY 24, 2024
Real estate companies are using artificial intelligence (AI) to improve agent productivity, which they believe will be even more necessary due to changes to their commission structure — mainly on the buyer’s side. But despite these tech advancements, they don’t see a scenario in which “robots” will soon take buyers and sellers through the homeownership journey.
Appraisal Buzz
JULY 23, 2024
Zillow, along with Thumbtack, a listing service that helps people find qualified professionals to complete home maintenance and improvement projects, has released a list of projects flippers and homeowners alike can complete to garner more attention from prospective buyers. Not all homeowners or property managers are willing to take a deep dive into home renovations, whether it be the cost or the time involved to complete the project—fortunately, certain select features are proven to be highly
Real Estate News
JULY 23, 2024
At $426,900, the median sale price for existing homes set another record in June, but inventory also rose, suggesting a “slow shift” to a buyer’s market.
Inman
JULY 24, 2024
A much-discussed listing agreement update reflects upcoming NAR rules, but doesn't bar sellers from offering compensation to buyers' agents.
Housing Wire
JULY 24, 2024
Attorneys general in 14 states have joined together to send a letter to Federal Housing Finance Agency (FHFA) director Sandra Thompson that urges the termination of the agency’s title waiver pilot program. The letter, which was sent on Monday, was spearheaded by Tennessee Attorney General Jonathan Skrmetti and co-signed by attorneys general in Alabama, Arkansas, Georgia, Indiana, Kansas, Louisiana, Mississippi, New Hampshire, Oklahoma, South Carolina, South Dakota, Texas and Virginia.
Appraisal Buzz
JULY 22, 2024
It’s 3:30 pm and I promised my client I would have it delivered by 5:00 pm. However, I’ve run into a little bit of a quandary. You see, over the past several weeks, I have had three conditions on prior appraisals because of the following: “strong”, “school district” and “close proximity”. The latter was simply a reference to the property’s location near the ocean, which is relatively common where I operate , but each term was innocuous and routine — unless of course you take them out of cont
Real Estate News
JULY 23, 2024
There’s “going to be a point at which it doesn't make sense to belong” to small, local MLSs, one broker-owner — and member of 7 MLSs — told Real Estate News.
Inman
JULY 23, 2024
Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56,000 home-purchase agreements in June, according to Redfin.
Housing Wire
JULY 24, 2024
Reverse mortgage industry veteran George Morales has been appointed as the new chairperson of the dedicated reverse mortgage development workgroup (DWG) inside the Mortgage Industry Standards Maintenance Organization. MISMO is a subsidiary of the Mortgage Bankers Association (MBA), which signaled its intent for more reverse mortgage involvement late last year.
Appraisal Buzz
JULY 22, 2024
Auction.com’s latest Seller Insights report reveals that leaders in the default servicing sector are anticipating a controlled economic descent, with gradual increases in foreclosure rates despite sustained high interest rates. The findings, compiled from a survey conducted during the Auction.com Disposition Summit, highlight industry expectations for the remainder of 2024.
Real Estate News
JULY 24, 2024
A U.S. District Court judge has approved a motion from the plaintiffs requesting reconsideration of a case originally filed against NAR in 2020.
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