Housing Wire
AUGUST 2, 2024
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.
Keeping Current Matters
AUGUST 2, 2024
Back in 2008, there was an oversupply of homes for sale.
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Housing Wire
AUGUST 2, 2024
Job creation continued to slow in July as unemployment spiked, which economists say is good news for the Federal Reserve and the housing industry. Data from the U.S. Bureau of Labor Statistics released on Friday shows that total nonfarm payroll rose by 114,000 jobs in July, below analysts’ expectations, and well below the average of monthly gain for the past 12 months of 215,000 jobs.
Real Estate News
AUGUST 2, 2024
Redfin reports that the typical commission for buyer agents slipped to 2.55% ahead of the August 17 deadline for rule changes related to the NAR settlement.
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Housing Wire
AUGUST 2, 2024
The typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. In other words, the March 2024 settlement between the National Association of Realtors (NAR) and plaintiffs in the Sitzer-Burnett case has likely already begun to push down commissions in markets across the country.
Real Estate News
AUGUST 2, 2024
Move Inc. lawyers said that a former employee who went to work for CoStar accessed Realtor.com’s proprietary calendar containing future plans for articles.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
AUGUST 2, 2024
Members of ARMLS and Metro MLS will be able to choose between ShowingTime and Aligned Showings after resolution of a lawsuit filed by Zillow in December.
Housing Wire
AUGUST 2, 2024
A new sponsored episode of the HousingWire Daily podcast — hosted live from the 2024 HousingWire AI Summit — features Editor in Chief Sarah Wheeler in conversation with CoreLogic data experts Amy Gromowski and Anand Singh. Gromowski, the company’s head of data science, and Singh, the vice president of GenAI property insights, discussed the importance of data in the development of artificial intelligence and offered advice for companies that wish to integrate AI into their business processes.
Inman
AUGUST 2, 2024
Jobs reports trigger recession fears, sending rates on 30-year fixed-rate mortgages plunging to new 2024 lows as investors rotate out of stocks and into bonds.
Housing Wire
AUGUST 2, 2024
Two lenders based in New Jersey have struck an M&A deal. OceanFirst Bank N.A. is acquiring Garden State Home Loans Inc. , which will become a new division for the regional depositary bank, HousingWire has learned. Garden State’s president and CEO, Justin DeJoseph, emailed employees on July 25 to announce the transaction. In the message reviewed by HousingWire, DeJoseph wrote that by becoming part of a larger organization, Garden State gains access to a “national lending platform, greater res
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
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Inman
AUGUST 2, 2024
Residential portal behemoth Zillow has settled its antitrust lawsuit against Arizona Regional Multiple Listing Service, Multiple Listing Service, Inc., over discontinuing its integration with ShowingTime+ in favor of MLS Aligned's listing platform.
Housing Wire
AUGUST 2, 2024
Older Americans are increasingly being caught up in elaborate scams designed by perpetrators to drain them of their retirement savings, with the detail and scale of such scams sometimes requiring the intervention of federal law enforcement. This is according to an investigative report published this week by the The New York Times. Subjects of interviews were “ensnared in scams that could be so elaborate it’s as if they were created in a writer’s room testing different plot devices,” the report s
Inman
AUGUST 2, 2024
The multi-family residence sold on July 31 for $21.5 million. The couple purchased the home in 2011 for $12.7 million.
Housing Wire
AUGUST 2, 2024
Artificial intelligence (AI) is poised to dramatically change every aspect of daily life, and it’s starting to bring tools to homeowners as well. Private equity firm Exuma Capital Partners announced that it is the lead investor for a newly launched, AI-powered homeowner management tool called Property.com. Exuma believes that the platform will provide transformative change to every stage of homeownership.
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Inman
AUGUST 2, 2024
The Federal Trade Commission (FTC) is distributing $12 million in payments to customers caught in a real estate house-flipping scheme operated by Zurixx, LLC.
Housing Wire
AUGUST 2, 2024
The Federal Housing Administration (FHA) announced on Friday that it has published a final rule in the Federal Register opening up communications between mortgage lenders and defaulted borrowers to remote and electronic methods. This is designed to broaden the ways for borrowers to meet with lenders following the success of remote communications on housing issues during the COVID-19 pandemic.
Inman
AUGUST 2, 2024
Carroll appeared before LA Superior Court judge Francis Bennett II on Tuesday following his July 1 arrest by LAPD and agreed to waive his rights to be present for court dates in the future.
Housing Wire
AUGUST 2, 2024
For real estate professionals, the business practice changes outlined in the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement —which are set to go into effect on Aug. 17 — are top of mind. But when it comes to the financial performance of their brokerages, industry analysts don’t believe the changes will be the end-all, be-all.
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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
AUGUST 2, 2024
For about the last four years, home price growth in the overall market outpaced growth in the luxury sector every month. But since January 2024, that trend has reversed, Zillow reported.
Housing Wire
AUGUST 2, 2024
Fintech software and hardware provider Mortgage Automation Technologies is launching The BIG Agent , a transaction management platform for real estate brokers and agents. In an announcement on Friday, Mortgage Automation Technologies said the platform is being launched from the same loan origination system solutions that facilitated the implementation of the Dodd-Frank Act and the TILA-RESPA Integrated Disclosures (TRID).
Inman
AUGUST 2, 2024
Home prices and sales have declined as the demand from all buyers, including investors and buyers interested in building homes, has cooled, according to a report from CoreLogic.
Housing Wire
AUGUST 2, 2024
HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers. To get a better idea of what led to the rebranding initiative, HousingWire ’s Reverse Mortgage Daily (RMD) sat down with Eric Ellsworth, the company’s executive vice president of sales, and Rich Walker, its vic
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Inman
AUGUST 2, 2024
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
Housing Wire
AUGUST 2, 2024
The supply of new single-family homes is sinking, while accelerated multifamily construction is bringing more rental units online. These two factors have resulted in renter households growing at three times the rate of homeowner households, according to a new report from Redfin that crunched U.S. Census Bureau data back to 1994. U.S. renter households grew 1.9% year over year in the second quarter of 2024, hitting 45.2 million.
Inman
AUGUST 2, 2024
Tyler Mount, a three-time Tony award winner and marketing company founder with career billings of $7 billion did not mince words when he talked about the importance of authenticity at Inman Connect Las Vegas.
Housing Wire
AUGUST 2, 2024
Santa Ana, California-based mortgage services and data firm Consolidated Analytics announced on Friday that it has acquired the assets of investor claims and loss-analysis company Investor Claim Solutions (ICS). Consolidated Analytics is a private company and terms were not disclosed. The company stated that the acquisition will help it improve its overall market position as a mortgage industry services provider.
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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
AUGUST 2, 2024
Redfin's latest report revealed the average buyer's agent's commission percentage has declined in 47 of the 50 largest markets since the National Association of Realtors' March settlement. However, robust home prices have yielded small gains in commission dollar amounts.
Bigger Pockets
AUGUST 2, 2024
NIMBYs, YIMBYs, and the struggle that's resulted in a housing crisis unlike we've ever seen. The real story of today's housing market goes back several decades.
RIS Media
AUGUST 2, 2024
Yesterday, Opendoor, the largest and oldest iBuyer, announced its financial results for the second quarter of 2024, also addressing recent settlements and the impacts on buyer agents and sellers. In the wake of recent settlements, investors asked Opendoor CEO Carrie Wheeler about the impact on the company as a result of new buyer agent contracts… The post Opendoor CEO Says Commissions Already Falling Ahead of Settlement Changes appeared first on RISMedia.
Bigger Pockets
AUGUST 2, 2024
The American Housing and Mobility Act would use estate tax increases to incentivize development. Private equity, lenders, and homeowners are caught in the crossfire.
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