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Home sale cancellations hit record high in January

Housing Wire

Home sale cancellations in the U.S. The figure, which represents over 41,000 failed home-purchase agreements, marks an increase from 13.4% The figure, which represents over 41,000 failed home-purchase agreements, marks an increase from 13.4% home-sale price rising 4.1% year-over-year. Las Vegas 17.9%

Sales 374
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Buyers backing out of purchase agreements at elevated rates: Redfin

Housing Wire

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of purchase agreements. In his market, 17.6%

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A homebuyer’s personal story from the post-Sitzer, post-settlement world

Housing Wire

As a real estate reporter, it was not lost on me that the formal start of my house hunt would coincide almost perfectly with the real estate industry working through the nationwide implementation of the business practice changes outlined in the National Association of Realtors ‘ (NAR) commission lawsuit settlement agreement.

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Making offers of buyer broker compensation is a tricky puzzle to solve

Housing Wire

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. Heading into Aug. which is no longer in effect. Hampe Associates.

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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more. The industry acronyms alone look like alphabet soup. Let’s dive in!

Agents 448
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Selling your home to a family member in 5 easy steps

Housing Wire

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. Although you can sell your home for whatever price you like, a controlled sale may incur certain tax liabilities for both parties. Why is selling to a family member different?

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’Where the rubber meets the road’: New Hampshire brokers reflect on the NAR settlement

Housing Wire

For agents in New Hampshire , this week marks two months since PrimeMLS , the state’s multiple listing service , implemented the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement. So, for now, I would caution patience.” It is a seller decision, not an agent decision.”