Housing Wire
MAY 13, 2024
In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Simultaneously, the appetite for second homes also diminished substantially. Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic housing boom in 2021, according to a new report from Redfin.
Real Estate News
MAY 9, 2024
Despite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.
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Housing Wire
MAY 8, 2024
Housing credit channels directly impact housing inventory channels. What does that mean? Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. Let’s see how this has played out in different stages of the economy. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand.
Keeping Current Matters
MAY 8, 2024
If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too.
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Inman
MAY 8, 2024
The plaintiffs in a suit known as Batton 1 have filed for a temporary restraining order preventing the final approval of the Keller Williams, Anywhere and RE/MAX settlements.
Brownstoner
MAY 13, 2024
The historic, albeit heavily altered, mansion that has stood on the corner of Bushwick Avenue and Linden Street since the late 1800s will likely be converted into a six-story, 20-unit apartment building, Department of Buildings records show. A new owner has applied to convert the two-story wood-frame structure at 1027… Read More > The post Historic Bushwick Mansion Slated to Become Six-Story Apartment Building appeared first on Brownstoner.
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
The company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.
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?
Inman
MAY 9, 2024
The ruling by Judge Stephen R. Bough on Thursday resolves antitrust claims in the Sitzer | Burnett, Moehrl and Nosalek commission cases. However, it won't quash other existing suits from buyers.
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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Real Estate News
MAY 9, 2024
After five weeks of increases, rates pulled back slightly, but rising home prices and record-high mortgage payments continue to hamper affordability.
Keeping Current Matters
MAY 9, 2024
When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like.
Inman
MAY 8, 2024
At the Realtors Legislative Meetings earlier this week, MLS executives were told they would be responsible for making sure real estate agents and brokers follow the new commission rules.
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.
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Housing Wire
MAY 13, 2024
Compass is continuing to expand its presence in the Southeast, announcing Monday that Tennessee -based Parks Real Estate has merged with the firm This is Compass’ second major merger and acquisition deal in the second quarter of 2024. In April, the Robert Reffkin -helmed firm announced that it had acquired Gulf Coast-based Latter & Blum. Parks Real Estate includes the Pilkerton Realtors brand and is led by CEO Hunter Connelly.
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.
Eye on Housing
MAY 13, 2024
High mortgage rates and double-digit growth in home prices since COVID-19 have brought housing affordability to its lowest level in more than a decade. Given this reality, a recent NAHB study on housing preferences* asked home buyers about which specific compromises they would be willing to make to achieve homeownership. For 39% of buyers, accepting.
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.
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.
RIS Media
MAY 9, 2024
Judge Stephen R. Bough gave his final approval today to settlement agreements struck by big brokerages in class-action commission lawsuits, granting broad immunity from claims by sellers that these companies conspired on rules that inflated real estate compensation at the expense of consumers. The ruling does not include a settlement struck by the National Association… The post Judge Approves Seller Settlements, With Limited Buyer Protections appeared first on RISMedia.
Housing Wire
MAY 7, 2024
The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes. Describing reverse mortgages as originating in 1961 before coming to greater prominence through the establishment of the HECM program during the Reagan administration, one of two recent NAR articles dea
Real Estate News
MAY 8, 2024
Anywhere, RE/MAX and KW deals at risk after new documents reveal a plan to include immunity from buy-side lawsuits, plaintiffs in the Batton case allege.
Marco Santarelli
MAY 11, 2024
The US housing market continues to defy expectations in 2024. Data from the National Association of Realtors (NAR) reveals a surprising trend: over 90% of metro areas across the country experienced rising home prices in the first quarter, despite persistently high mortgage rates that currently range between 6.6% and 7%. This upward trend is cause for both optimism and cautious analysis.
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.
Inman
MAY 8, 2024
Although it may seem righteous to dismantle the institution that NAR has built, brokerage founder Sean Frank writes, the collapse of NAR would equate to the collapse of the modern real estate market as we know it.
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
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.
Real Estate News
MAY 11, 2024
In a 40-page filing, Judge Bough lays out his reasons for rejecting arguments from the May 9 hearing, and said lawyers can collect a third of settlement funds.
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Marco Santarelli
MAY 12, 2024
Barbara Corcoran , a renowned real estate mogul and television personality, has made some bold predictions about the housing market that have caught the attention of investors and homebuyers alike. In a recent interview, she suggested that housing prices are set to “go through the roof,” especially once interest rates drop. This statement has sparked a debate among industry experts and observers, leading many to wonder if her forecast will hold true.
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.
RIS Media
MAY 8, 2024
Plaintiffs in Batton, the largest commission-focused case filed by homebuyers, are seeking to delay approval of settlements that brokerages agreed to in cases filed by homesellers, according to a court filing today, claiming at least two companies are attempting to squeeze in immunity from buyer claims at the last minute. With the final approval hearing… The post Settlements Face 11th Hour Delay in Dispute Over Buyer Immunity appeared first on RISMedia.
Housing Wire
MAY 10, 2024
New York -based assumable mortgage platform Roam rolled out a new partnership with national lender Spring EQ to provide second-lien loans to Roam customers, the company announced on Thursday. The new service, Roam Boost, will cater to people with credit scores of at least 640 and down payments of at least 15%. Consider, for example, a home that costs $400,000, with an assumable mortgage amount of $280,000.
Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group
Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.
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