Housing Wire
MAY 7, 2024
Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% in Q4 2023, the highest number we’ve seen since 2009. This is a true testament to the care, commitment and passion brokers across the country have for their borrowers. The big question is, what caused this increase? First and foremost, there has been a noticeable shift in consumer behavior.
Keeping Current Matters
MAY 7, 2024
If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home?
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Housing Wire
MAY 7, 2024
Las Vegas -based housing technology startup BOXABL on Tuesday announced that it has received approval to begin selling a factory-built accessory dwelling unit (ADU) in California , which could provide more options in a state strapped for affordable housing options. The company’s “Casita” product is a 361-square-foot home with a full kitchen, bathroom, living area and sleeping area.
Real Estate News
MAY 7, 2024
The company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.
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Housing Wire
MAY 7, 2024
Redfin showcased pockets of growth in the first quarter of 2024 despite challenging housing market conditions. The brokerage posted revenue of $225.5 million, an increase of 5% compared to the first quarter of 2023. But it also reported a net loss of $66.8 million, up from a net loss of $60.8 million in Q1 2023 and well above its $23 million loss in Q4 2023.
Real Estate News
MAY 7, 2024
In a recent survey by the New York Fed, consumers said they expect rates to hit 8.7% in a year and 9.7% in three years.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
MAY 7, 2024
Even as net losses increase, Redfin’s CEO says the company is in a good place: “When you give people a better deal, they actually beat a path to your door.
Housing Wire
MAY 7, 2024
Mortgage rates eased slightly last week after a cooler-than-expected jobs report. Additionally, the 10-year Treasury yield fell after Friday’s jobs report. HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.51% on Tuesday, slightly below the rate of 7.57% one week ago. At the same time one year ago, the average rate was 6.54%.
Inman
MAY 7, 2024
Realtor.com CEO Damian Eales took to the podium on Monday at the MLS Forum of the Realtors Legislative Meetings to refute rival CoStar's earlier claims about Homes.com's growing traffic.
Housing Wire
MAY 7, 2024
With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. The uptick in agent count contributed to a 74% yearly jump in transaction count to 19,032 sides, good for a total sales volume of $7.5 billion and an 88% year-over-year increase.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Inman
MAY 7, 2024
Questions of agency, agreements and compensation are on the line. Do you have the information you need to move forward now?
Housing Wire
MAY 7, 2024
U.S. single-family home prices continued their upward trajectory in March, marking the 146th consecutive month of annualized gains, CoreLogic reported. Prices rose by 1.2% compared to February 2024 and by 5.3% compared to March 2023, according to the company’s home price index released Tuesday. Over the next 12 months, CoreLogic projects year-over-year home price gains to range between 3.7% and 5.6%.
Inman
MAY 7, 2024
Real estate’s new era is upon us. At Inman Connect Las Vegas in July, we’re bringing together real estate’s most trusted voices to cut through the noise and give our community the information and tools it needs to succeed moving forward.
Housing Wire
MAY 7, 2024
Finance of America Companies (FOA), which controls the outgoing brands Finance of America Reverse (FAR) and American Advisors Group (AAG), recorded a net loss under generally accepted accounting principles (GAAP) of $16 million in Q1 2024 and an adjusted net loss of $7 million for the quarter, according to a recently released earnings report. Total revenues at the company dropped sharply from $276 million in Q4 2023 to $75 million in Q1 2024.
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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.
Inman
MAY 7, 2024
Enviable weather, ocean views and a lengthy list of landmark tourist destinations have made Florida a treasure chest for short-term rental investors. A Clever Real Estate market analysis published on Tuesday revealed strong property values, robust population growth, and year-round tourist demand have made Tampa, Orlando, Jacksonville and Miami top-tier cities for short-term rentals on Airbnb and other platforms.
Housing Wire
MAY 7, 2024
Mortgage capital markets tech firm Polly announced on Tuesday that it has launched “Polly/AI,” which integrates artificial intelligence (AI) technology into the newest version of its product and pricing engine (PPE) and includes a “co-pilot” for loan officers that will “process, interpret, and recommend a range of outcome-driven results.” The PPE system is native to the cloud and is described by the company as “commercially scalable” through a series of customizable options.
Inman
MAY 7, 2024
The Real Brokerage reported revenue of $200.7 million in the first quarter of 2024 as gross profit soared to $20.8 million, according to Q1 earnings data released Tuesday morning.
Housing Wire
MAY 7, 2024
Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. Hoffman has spent more than 30 years in mortgage banking, 22 of them at Flagstar, where he started as an account executive.
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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.
Inman
MAY 7, 2024
Realtors and buyers are both confused right now, writes mega-team leader Carl Medford. To help buyers sort out the mess, here are our top 10 answers for buyer questions.
Housing Wire
MAY 7, 2024
Carrington Mortgage Services (CMS) hired Steven Winokur to serve as vice president of marketing for third-party originations (TPO), the company announced Tuesday. In this new role, Winokur will work to increase the company’s emphasis on diverse forms of nonqualified mortgage (non-QM) educational resources.Prior to joining CMS, Winokur served as chief marketing officer at Angel Oak Lending and was a 2022 HousingWire Marketing Leader.
Inman
MAY 7, 2024
In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.
Bigger Pockets
MAY 7, 2024
There’s one way to invest in real estate that’s cheaper, easier, and more efficient than almost any other strategy.
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Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.
Inman
MAY 7, 2024
Whether it’s the liquidity of REITs, the adventurous potential of international markets, reliable income from self-storage, or the traditional appeal of residential rentals, Victoria Kennedy writes, each component adds a unique layer of security and opportunity to your investment strategy.
RIS Media
MAY 7, 2024
In the wake of recent headlines surrounding the National Association of REALTORS®’ lawsuit settlement and the Department of Justice’s renewed interest in investigating commission practices, skepticism regarding the value of real estate professionals has surfaced across the nation. Yet, amidst the noise, it would be foolish to overlook the enduring significance of the role you… The post Never Count Real Estate Agents Out appeared first on RISMedia.
Inman
MAY 7, 2024
The nation's biggest city saw the biggest gap emerge between the rates of wage growth and rent growth, according to a new report from Zillow.
RIS Media
MAY 7, 2024
The National Association of REALTORS®’ Chief Economist Lawrence Yun forecasted that interest rates will fall in the long term, 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024)—with further gains in eight of the next 10… The post NAR Chief Economist Predicts Falling Long-Term Interest Rates, Rising Existing-Home Sales in 2024 appeared first on RISMedia.
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Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.
Inman
MAY 7, 2024
The Marcus Skenderian Real Estate Group is boomeranging back to Compass after three years away to launch its own brick-and-mortar office in Laguna Beach.
Brownstoner
MAY 7, 2024
Abolitionist Place park, a public park that commemorates Brooklyn’s abolitionist history, is finally open to the public after at least 20 years of planning, multiple controversies, several iterations, and many delays. The 1.15-acre park at 225 Duffield Street opened today, officials told Brownstoner Monday, with a ribbon cutting ceremony scheduled… Read More > The post Decades in the Making, Abolitionist Place Park Opens to Public appeared first on Brownstoner.
Inman
MAY 7, 2024
Former operations head Sarah Pierce, who had accused Better CEO Vishal Garg of providing misleading information to investors in leadup to SPAC, faced $2.76 million judgment in countersuit.
RIS Media
MAY 7, 2024
Bringing together ostensible outsiders with deep experience in the realm of housing policy and finance, the National Association of REALTORS® (NAR) billed the panel—taking place during the organization’s midyear legislative meetings in Washington D.C. yesterday—as an overview of “practical and policy solutions in a post-settlement environment.” Really, however, the focus was on one policy—financing buyer… The post Financing Buyer Commission Could Be Expensive, Dangerous Says NAR Panel ap
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