Housing Wire
JULY 23, 2024
Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. According to data at HousingWire ’s Mortgage Rates Center , the average rate for 30-year conforming loans was at 7.01% on Tuesday, down 5 basis points from one week ago and 10 basis points lower than two weeks ago.
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.
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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.
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.
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.
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.
Keeping Current Matters
JULY 23, 2024
Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
JULY 23, 2024
CEO Andy Florance touted the growth of Homes.com and said its traffic data source was more reliable, comparing it to “election results” versus “polls.
Housing Wire
JULY 23, 2024
Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% and 3%, respectively. Even with more listings of homes available for sale compared to a year ago, existing-home sales fell in June. Fannie Mae economists said that increased supply and affordability constrained demand should result in moderating prices.
Inman
JULY 23, 2024
NextHome CEO James Dwiggins shares his thoughts on agents who use websites designed to advertise offers of compensation from listings after the NAR settlement takes effect next month.
Housing Wire
JULY 23, 2024
AARP , the interest group advocating for the wellbeing of older Americans, revealed in a policy paper this month its priorities for a national plan on aging that sufficiently recognizes the changing demographics of the U.S. population , and the trend that will see 20% of all Americans become at least the age of 65 by 2030. “While other countries are responding to these changes by developing and implementing national strategic plans to help them meet the challenges and maximize opportunities to i
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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
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 23, 2024
Keller Williams market centers have shared more than $2 billion in profits with affiliated agents though the firm’s profit-sharing program, according to an announcement on Monday. “We are thrilled to celebrate that over $2 billion in lifetime profit share has been distributed to our franchisee-affiliated agents, a milestone that underscores the profound impact of our vision,” Mark Willis , the CEO and president of KW, said in a statement.
Inman
JULY 23, 2024
CoStar Group's revenue grew 12 percent year over year to $678 million, according to Q2 earnings Tuesday. Traffic for the Homes.com Network of websites increased 73 percent year over year to 148 million monthly average unique visitors.
Housing Wire
JULY 23, 2024
Pennymac Financial Services earned a profit of $98.3 million in second-quarter 2024, more than double the $39.3 million it raked in during the prior quarter. And the company is getting its ducks in a row to seize on opportunities when interest rates fall, relying on its scale and servicing portfolio to outmuscle competitors. The California -based lender generated production revenue of $202.6 million from April through June, up 10% from the prior quarter and 19% higher than in second-quarter 2023
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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
JULY 23, 2024
Buyer agreements for open houses? Workarounds? Concessions? As agents race to comply with terms of the NAR settlement on Aug. 17, Inman wants to help answer your toughest questions.
Housing Wire
JULY 23, 2024
Mortgage and real estate executives attending HousingWire ‘s Artificial Intelligence (AI) Summit in Dallas on Tuesday have already begun to collect some lessons learned from Friday’s global tech outage as the world is still dealing with its consequences. Different companies were impacted to different degrees by the problem, but executives said it validates their decision to invest in in-house technology, develop virtual workspaces for employees and signals the need to adopt AI to pre
Inman
JULY 23, 2024
Consumers expect specialization in every area of life, from doctors to hairdressers, coach Verl Workman writes. They should expect no less from their real estate expert when it's time to sell a home.
Housing Wire
JULY 23, 2024
The second of two lawsuits dealing with pocket listings has been allowed to proceed after a U.S. District Court judge in California granted the plaintiff’s motion for reconsideration on Monday. Originally filed in 2020 by Top Agent Network (TAN), the suit takes aim at the National Association of Realtors ’ (NAR) ban on pocket listings via its Clear Cooperation Policy.
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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
JULY 23, 2024
As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford and prices are already coming down in some markets
Housing Wire
JULY 23, 2024
Blueprint Solutions , a mortgage technology company that offers income verification tools for the industry, announced this week that it is implementing Fannie Mae ’s Income Calculator into its two primary software offerings. This will help the company’s clients to more efficiently access the Fannie Mae tool, the company said. Blueprint offers two variations of mortgage income analysis software, “IncomeXpert” and “IncomeXpert PLUS.
Inman
JULY 23, 2024
Hidden costs of homeownership, like property taxes and homeowners insurance, were given a 37 percent risk factor for triggering mortgage delinquency by leaders in default servicing, according to a survey by Auction.com.
Housing Wire
JULY 23, 2024
In today’s rapidly evolving digital landscape, it is crucial to understand and effectively manage cybersecurity risks in order to safeguard your title insurance or real estate business. As cyber threats become more sophisticated, the need for robust cybersecurity measures has never been more critical. This fifth installment of the Reducing Risk series delves into the critical cyber risks that can impact your operations and offers comprehensive strategies for proactive identification and ma
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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
JULY 23, 2024
CFO Pat Theodora taking over as CEO after Iannitti, a pioneer of numerous paperless processes, dies unexpectedly of complications from pneumonia.
Housing Wire
JULY 23, 2024
Real estate lending shop Dunmor has promoted two employees to senior leadership positions. Andy Thienkosol, a veteran in business-purpose lending (BPL), has been named chief operating officer of the California -based lender. Melissa Perez, a former director of operations at First Republic Bank , has joined Dunmor as senior vice president of operations.
Inman
JULY 23, 2024
When your pipeline dwindles and your next payday is uncertain, anxious thoughts can consume your day. Rachael Hite offers a financial and self-care prescription.
Housing Wire
JULY 23, 2024
Texas Capital Bank , after being granted an extension to respond to the federal government’s request to change the venue of the trial between the bank and Ginnie Mae , has filed an objection to the request saying that a “forum selection clause” cited by government attorneys is not enforceable. “Having lost its attempt to dismiss [TCB]’s claims, the government asks this court to transfer this case to another courthouse,” attorneys for TCB said in a court filing obtained by HousingWire ’s Reverse
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BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.
Inman
JULY 23, 2024
The median existing-home price jumped by 4.1 percent year-over-year to $426,900 for all housing types, marking the second month of record highs.
RIS Media
JULY 23, 2024
Interest rates may be seeing their first cut this fall, possibly even as soon as September, according to the National Association of REALTORS®’ (NAR) Chief Economist Lawrence Yun. Yun shared this prediction and more during NAR’s recent Residential Real Estate Forecast Summit for 2024. The biggest question looming on many in the industry’s minds is,… The post NAR’s Yun Predicts Interest Rate Cuts, With More to Come in 2025 appeared first on RISMedia.
Inman
JULY 23, 2024
By building rapport, The Agency's John Antretter writes, agents can not only secure immediate business but also build a network of loyal clients who will return and refer others for years to come.
RIS Media
JULY 23, 2024
Back in January, the National Association of REALTORS® (NAR) agreed to extend the statute of limitations in a pocket-listing lawsuit, court documents revealed, with a lawyer representing the REALTOR® organization telling a judge in a separate case last week that NAR needed time to decide if it was “amenable” to repealing or amending the Clear… The post NAR Appears Open to Amending or Repealing Clear Cooperation appeared first on RISMedia.
Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty
Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.
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