Zillow offering 7-day ‘touring agreement’ for agents
Real Estate News
APRIL 30, 2024
The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.
April, 2024
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DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
Housing Wire
APRIL 24, 2024
Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.
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The Best Week To List Your House Is Almost Here
Keeping Current Matters
APRIL 1, 2024
Are you thinking about making a move?
GSEs will not count buyer agent commissions as IPCs
Housing Wire
APRIL 15, 2024
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees.
The 2025 Real Estate Roadmap to Success
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Don’t just react to changes, plan for them, so you can approach the new year with confidence, direction, and a competitive edge for your business. Having a well-defined business plan helps you chart a clear course, navigate challenges, and set a foundation for growth. This workbook gives you the key steps to outline what matters and will ensure you’re moving ahead.
Prices for pending home sales reach record high
Housing Wire
APRIL 22, 2024
After a couple weeks of big jumps for mortgage rates , we’re still seeing relatively surprising strength in the housing market. In fact, some measures of home prices are now at their all-time highs, having surpassed the previous peak of two years ago. We’re watching a few key factors to see if homebuyers are backing off in the face of increased mortgage rates.
Proposal would allow Freddie Mac to acquire closed-end second mortgages
Housing Wire
APRIL 17, 2024
The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This would offer borrowers an alternative way to access their home equity without surrendering a first mortgage with a more favorable interest rate than is currently available.
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Zillow launches buyer agreement for home tours
Housing Wire
APRIL 30, 2024
Over the years, Zillow has made it clear that it wants to help consumers with all aspects of their homebuying journey. Through the terms of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement Zillow is now getting into buyer representation agreements. Under the terms of NAR’s settlement agreement, agents will have to have a written agreement with a client in order to work with them as a buyer broker.
Spring housing market gets more inventory
Housing Wire
APRIL 27, 2024
Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Last year, we never hit that target. We have now seen it for two weeks as inventory grew by 13,247. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023
New home sales still growing from 2022 lows
Housing Wire
APRIL 23, 2024
New home sales have been one of the brighter housing stories since the home sales crash in 2022 — as we can see in the chart below, new home sales have been able to grow since then. This is one reason why the homebuilder stocks have done so well since November of 2022. The mistake some people made here was that in 2021 and 2022, some people believed housing was overbuilt and lacked the demographic demand to get sales to rise from such low levels in 2022.
Finally, some healthy housing inventory growth
Housing Wire
APRIL 20, 2024
Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. This is something I talked about last week on Yahoo Finance.
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
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.
Barr: Fed is taking ‘thoughtful approach’ to Basel III rules
Housing Wire
APRIL 4, 2024
Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We gave the public extra time to comment on the rule because it was really complex.
Powell makes it clear: No rate cuts anytime soon
Housing Wire
APRIL 16, 2024
Today, Federal Reserve Chairman Jerome Powell made statements at the Washington Forum that indicate there will be no rate cuts anytime soon because the economy and the labor market are too strong with sticky inflation. This is a change from previous statements where the Fed talked about the rate cuts it expected to make this year — although that timeframe has changed several times.
Gen X is already looking for housing appropriate for aging in place
Housing Wire
APRIL 9, 2024
Baby boomers are exhibiting an overwhelming desire to age in place in their own homes, but their children — largely members of Generation X — are also making their desires felt by seeking out homes that can accommodate their needs as they get older, according to a recent report from the New York Times. Citing 2021 data from the Harvard University Joint Center for Housing Studies that showed 88% of adults 65 and older are aging in place, many members of the following generation — primarily born b
Home sellers are returning to the market
Housing Wire
APRIL 29, 2024
The weekly volume of new listings is now higher than at anytime last year. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. There’s two ways to interpret these trends. The bearish take is that there are many more sellers than buyers and inventory is rising.
Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth
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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.
Rural America is losing affordable housing at a crisis pace
Housing Wire
APRIL 8, 2024
The lack of affordable housing in the United States is well-documented in the nation’s urban markets, where it is contributing to the swelling ranks of the homeless. That same dire need for affordable housing for the least prosperous among us, however, also is a serious problem in rural America — home to nearly 70 million Americans. The U.S. Department of Agriculture (USDA) administers one of the main programs providing housing for low-income households in the rural stretches of this country — w
Why are existing home prices rising when sales are still so low?
Housing Wire
APRIL 18, 2024
Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300).
Will a wider war in the Middle East push mortgage rates higher or lower?
Housing Wire
APRIL 13, 2024
Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? Some argue that money will go into the safety of the bond market, while others say a wider war can lead to higher inflation and higher rates. The week ahead will answer some of those questions early on. 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week.
HUD, USDA reach accord on energy-efficiency standard for new construction
Housing Wire
APRIL 26, 2024
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) have settled on new energy-efficiency standards for the construction of new single-family and multifamily homes. This fulfills a requirement laid out in a 2007 law that directs the departments to adopt the most recently published energy-efficiency standards following reviews by the U.S.
Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys
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U.S. mortgage delinquency rates remain near historic lows: CoreLogic
Housing Wire
APRIL 26, 2024
In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health.
Experts share insights about the Fed, data ‘vibes’ and housing trends
Housing Wire
APRIL 23, 2024
Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. This week at The Gathering by HousingWire in Scottsdale, Arizona, these topics were tackled in separate sessions by HousingWire analyst Logan Mohtashami , Altos Research founder and president Mike Simonsen, and Redfin chief economist Daryl Fairweather, respectively.
The labor report gives the Fed a clear pathway to land the plane
Housing Wire
APRIL 5, 2024
Today’s jobs report beat estimates , but the internals show the labor market is softening, as the Federal Reserve wants. The data shows that wage growth is cooling down and the job opening quits rate is below pre-COVID-19 levels. This bodes well for those hoping to see a soft landing, and for those hoping for lower mortgage rates. The 10-year yield has had a wild ride today, but now is an excellent time to look at my macro take on the labor market and explain what the Fed is looking for wi
Ginnie Mae warns issuer partners about faster prepayments
Housing Wire
APRIL 5, 2024
Ginnie Mae this week issued a public notice to its issuer partners warning of an observation of higher prepayments in some of its mortgage-backed securities (MBS) programs, reminding issuers that a violation of its requirements could result in punitive action. In a prior All Participants Memorandum (APM) issued in December 2017 , Ginnie Mae described how it monitors prepayments in its MBS programs.
Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media
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.
Home prices post largest gain in more than a year: S&P
Housing Wire
APRIL 30, 2024
Home prices were near an all-time high in February. The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6.4% annual gain in February, up from a 6% gain in January, according to the newest report released Tuesday. It was the largest annualized increase recorded since November 2022. On an annual basis, the 10-city composite index grew by 8%, up from 7.4% the previous month.
Judge grants preliminary approval of NAR commission lawsuit settlement
Housing Wire
APRIL 23, 2024
The National Association of Realtors (NAR) can breathe a small sigh of relief. The trade group’s nationwide settlement of the commission lawsuits has passed its first hurdle as Judge Stephen R. Bough, who oversaw the Sitzer/Burnett lawsuit , granted preliminary approval to NAR’s settlement on Tuesday. While the agreement still must receive final approval from the court, the industry is now one step closer to operating under the new rules outlined in the settlement agreement.
California Association of Realtors CEO resigns
Housing Wire
APRIL 21, 2024
California Association of Realtors CEO John Sebree has departed the trade organization. In an announcement on Saturday, CAR said that Sebree was resigning to “pursue other opportunities. “On behalf of CAR’s leadership team and the Board of Directors, I’d like to thank John for his contributions and service as CEO and State Secretary for our organization.
How the CPI data took one Fed rate cut off the table for 2024
Housing Wire
APRIL 10, 2024
Mortgage rates shot up today as the CPI data came in just a bit hotter today — 0.1% more than estimates on a month-to-month basis. That’s not much, but it’s high enough to take away one of the rate cuts we expected in 2024. I view rate-cut pricing being tied more to the 2-year yield than the 10-year yield. Today, we saw a noticeable bounce in the 2-year yield.
Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success
Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.
In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.
Now unshackled, the DOJ casts a large shadow over the commission lawsuit settlement
Housing Wire
APRIL 11, 2024
Many real estate executives and analysts believe that the Department of Justice , now with the green light to reopen its investigation into the National Association of Realtors , will shake up the civil commission lawsuit settlement agreement. But legal experts are not as certain. Now unshackled , the DOJ could file a statement on interest in the Sitzer/Burnett commission lawsuit and express concerns about the terms of NAR’s settlement agreement.
CertifID and Old Republic partner to prevent fraud
Housing Wire
APRIL 18, 2024
Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud , according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from the mortgage servicer.
The mortgage rate pendulum swings yet again
Housing Wire
APRIL 17, 2024
Expect 2024 to be mildly better than 2023 with mortgage rates falling in the second half of the year, housing experts opined in their forecasts at the end of the year. Cuts to the Federal funds rate (and subsequently to mortgage rates) are imminent, traders enthused after December’s meeting of the Federal Open Market Committee in which committee members predicted three rate cuts in 2024.
Do housing starts show we’re going into a recession?
Housing Wire
APRIL 16, 2024
When they say housing leads the U.S. economy into and out of a recession, they’re correct, as housing starts fall into a recession and rise when we are recovering. Economic cycles follow a familiar pattern, however, each one is unique in its way. In 2022, many recessionary red flags popped up. However, after Nov. 9, 2022 , a critical recessionary data line changed as mortgage rates fell, new home sales grew, builders bought down rates and the cycle moved on.
Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage
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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.
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