Housing Wire

FEBRUARY 12, 2024

Like the other commission lawsuits, the Jensen suit is seeking class action status for anyone who sold a property listed on Wasatch Front MLS , Washington County MLS , Iron County MLS or Summit County MLS between Feb. 9, 2020, and the present, and paid a buyer broker commission.

MLS 414

MLS Equity Brokerage Industrial 414

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

VA loan 414

VA loan Closing costs MLS Loans 414

Housing Wire

NOVEMBER 8, 2023

Moving past cooperative compensation In early August, Bright MLS , the nation’s second largest MLS, began allowing listing agents to use a $0 blanket offer of compensation for buyer brokers and still list a property on the MLS. Let’s break down the changes and the implications.

MLS 368

MLS Agents Closing costs Residential 368

Housing Wire

FEBRUARY 13, 2024

” Bright MLS Chief Economist Lisa Sturtevant expects the Fed to cut rates later this year and forecasts mortgage rates to come down. . “If jobless claims start to rise every month, it is in plan; for now, jobless claims data is low. Look for May for the first Fed rate cut at the current trend.”

MLS 401

MLS Finance Mortgages Closing 401

Housing Wire

DECEMBER 12, 2023

The lawsuit was filed by Christina Grace, who sold a house listed on Bay Area Real Estate Information Services MLS (BAREIS MLS) in April 2020 and paid a commission to the buyer’s agent. Grace is seeking class action status for the suit, with the proposed class being any homeowner who listed and sold a home on BAREIS MLS between Dec.

MLS 431

MLS Brokerage Agents Industrial 431

Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

Industrial 413

Industrial MLS FHA loan Agents 413

Housing Wire

JANUARY 25, 2024

Mortgage rates stabilized in the past week but remain close to the narrow range observed since the start of this month. Meanwhile, the Bright MLS forecast for 2024 calls for mortgage rates to decline further this year, reaching 6.2% The 30-year fixed-rate mortgage averaged 6.69% as of Jan. by the fourth quarter.

Mortgages 387

Mortgages Fixed-rate mortgage MLS Banks 387

Housing Wire

AUGUST 18, 2023

Private sales, for sale by owner and other sales not found in your MLS could be really good comparable homes, so ask good questions and don’t just assume your seller is overpriced. Not just for your town or even zip code, but for their neighborhood, school district and MLS code. Know what’s going on with the new construction!

Pre-qualification 357

Pre-qualification New Construction MLS Construction 357

Housing Wire

JANUARY 5, 2024

The trade group closed out 2023 with 1,554,604 members. This decline may partially be attributed to the state’s largest MLS , Northwest MLS , not being affiliated with NAR, and the state being home to Redfin , which announced in October that it was asking agents to allow their NAR membership to lapse where possible.

MLS 389

MLS Agents Sales Industrial 389

Housing Wire

DECEMBER 20, 2023

The latest weakness in existing home sales still reflects the buyer bidding process in most of October when mortgage rates were at a two-decade high before the actual closings in November,” NAR Chief Economist Lawrence Yun said in a statement. “A According to Bright MLS’ forecasts, there will be 4.6 Looking at the four major U.S.

Sales 378

Sales Fixed-rate mortgage MLS Mortgages 378

Housing Wire

JANUARY 11, 2024

Potential homebuyers should look closely at existing state and local resources, such as down payment assistance programs, which can considerably help defray closing costs.” Mortgage rates dipped below 7% before the start of the new year, steadily declining each week of December.

Fixed-rate mortgage 384

Fixed-rate mortgage Mortgages Closing costs MLS 384

Housing Wire

SEPTEMBER 1, 2023

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

Technology 421

Technology Development Title Lending 421

Housing Wire

FEBRUARY 28, 2023

“The prospect of stable, or higher, interest rates means that mortgage financing remains a headwind for home prices, while economic weakness, including the possibility of a recession, may also constrain potential buyers,” Lazarra said. Given these prospects for a challenging macroeconomic environment, home prices may well continue to weaken.”

MLS 374

MLS Mortgages Finance Closing 374

Housing Wire

JANUARY 31, 2023

The Case-Shiller home price indices for November is a three-month average of closing prices in September, October and November. Because most home sales take several months from contract to closing, the data likely includes some deals struck in July and August.) Month over month, the 20-city index dropped 0.8% to a reading of 313.07.

MLS 384

MLS Land Mortgages Finance 384

Housing Wire

OCTOBER 24, 2023

This means sellers wind up paying inflated commissions at closing. Cross-examination zeroes in on MLS, association compliance with NAR rule Like others who have testified, Gansho noted that NAR does not own or operate Multiple Listing Services , or MLSs. According to Gansho, proposals for new rules are created in the committees.

MLS 405

MLS Principal Brokerage Agents 405

Housing Wire

NOVEMBER 1, 2023

With nearly double the number of corporate defendants as both the Moehrl and Sitzer/Burnett cases, and the fact that the proposed class includes anyone who listed a property for sale on an MLS in the U.S. using a listing agent or broker affiliated with one of the seven brokerage defendants and paid a buyer broker commission from Oct.

MLS 399

MLS Brokerage Industrial Agents 399

Housing Wire

OCTOBER 20, 2023

ZipRealty closed nearly 30,000 transactions at its peak. Some say the MLS enables U.S. Those who point to this conclusion fail to mention the role the MLS plays in the U.S. Among other benefits are regulations and processes to make the market efficient and fair that are promulgated and enforced by the MLS.

MLS 418

MLS Brokerage Agents Industrial 418

Housing Wire

MARCH 29, 2023

Homebuyers have been closely watching mortgage rates, which have been volatile during the first few months of the year,” said Lisa Sturtevant, chief economist for Bright MLS. To boot, mortgage rates declined in January but rose again in February, closing out the month in the 7% range. Overall, contract signings were down 21.1%

Sales 289

Sales MLS Construction Banks 289

Housing Wire

JUNE 13, 2022

From Multiple Listing Services (MLS) to consumer-facing giants like Zillow , Realtor.com and Redfin , the real estate industry is raising awareness about homebuyer assistance programs through agent education and self-service tools that help consumers find programs they qualify for. their lenders) if homebuyer assistance is right for them.

Finance 351

Finance Loans Closing Closing costs 351

Housing Wire

SEPTEMBER 7, 2023

The three class action suits Moehrl , Sitzer/Burnett , and Nosalek , named after their lead plaintiffs, take aim at NAR’s Participation Rule , which requires listing agents to make a blanket offer of compensation to buyers’ agents in order to list the property on a Realtor-affiliated multiple listing service (MLS).

Agents 380

Agents Loan Officer Lending MLS 380

Housing Wire

SEPTEMBER 18, 2023

In addition, RealTrends Consulting co-founder Steve Murray notes that the settlement agreements might prevent firms that operate under a franchise model from requiring that franchises belong to a Realtor association at any level, that franchises abide by the Realtor Code of Ethics , and that franchise abide by Realtor-affiliated MLS guidelines.

MLS 483

MLS Branding Agents Brokerage 483

Housing Wire

SEPTEMBER 28, 2023

Pending sales in August provide a preview of closed sales this fall The sharp drop in pending sales in August, along with slower existing and new home sales, suggest that the housing market is cooling, Bright MLS Chief Economist Lisa Sturtevant noted.

Sales 428

Sales MLS Mortgages Closing 428

Housing Wire

DECEMBER 5, 2023

I look forward to working closely with Suzanne to continue to communicate NAR’s perspective with key audiences, maintain our role as a positive force in the real estate industry, and empower our members who are working every day to help their clients.”

Marketing 363

Marketing MLS Branding Industrial 363

Housing Wire

JULY 20, 2023

Stop answering clients’ concerns by saying, “Yeah, there’s really nothing on the market, I mean everything in the MLS is already pending. First, many builders are buying down interest rates using their in-house financing. Builders are closing loans in the 4.5 range currently! Next, the house is new.

Equity 278

Equity MLS Construction Agents 278

Housing Wire

JANUARY 19, 2024

In reality, the demand for housing—and homeownership, in particular—has remained high, despite higher rates,” Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. Befitting a challenging year for the housing market , existing home sales closed out 2023 at a seasonally adjusted annual pace of 3.78

Fixed-rate mortgage 423

Fixed-rate mortgage Sales MLS Mortgages 423

Housing Wire

OCTOBER 31, 2023

Affordability becomes a major issue in the current housing market Mortgage rates near the 8% level combined with limited inventory and high home prices make for historic affordability challenges, Bright MLS Chief Economist Lisa Sturtevant noted in a statement. However, the lack of supply remains the key issue.

MLS 449

MLS Mortgages Sales Closing 449

Housing Wire

OCTOBER 26, 2023

He testified that, in most cases, homebuyers would be unable to include buyer agent commission costs into their financing. Although Keller Williams still needs to present its defense, closing arguments in the commission lawsuit trial are expected as early as Monday. Wu argues that there is no evidence of steering.

MLS 369

MLS Agents Finance As-is 369

Housing Wire

AUGUST 10, 2023

in July, said Bright MLS Chief Economist Dr. Lisa Sturtevant. To Bright MLS Chief Economist Dr. Lisa Sturtevant, these changes are not the result of the Fed’s action but rather the consequence of more new residential construction coming on the market. According to the CPI data, the inflation rate excluding shelter was just 1.0%

MLS 313

MLS Construction Residential Design 313

Toronto Realty Blog

JUNE 3, 2022

I had a tough week for closings. Really tough… First, I visited a property the day before closing with clients, only to find the house was still full of junk. Oh – and on the day of closing, they happened to be walking their dog by the house, and guess what? Still packing… Tough, tough week for closings!

Closing 81

Closing Purchase and sale agreement Sales As-is 81

HomeLight

DECEMBER 31, 2020

The first is the active period, when your home is listed as available for sale in your local MLS. The buyer’s financing with a lender. These are the primary ways a home sale could fall apart, but there are other closing regulations that vary from state to state. “A Contract negotiations between the buyer and the seller.

Closing 104

Closing Backup offer Sales Inspection 104

Housing Wire

DECEMBER 10, 2020

“With behavioral data, lenders can see which of their consumers are in-market…around 100 days prior to a credit trigger or an MLS trigger and up to 180 days before a closed loan,” said Mike Eshelman, VP of Consumer Finance at Jornaya, a 2020 Tech100 Mortgage recipient.

MLS 248

MLS Branding Mortgages Technology 248

RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Financing or Mortgage Contingencies. Contingent vs. Pending?

Purchase and sale agreement 98

Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

Housing Wire

FEBRUARY 24, 2021

Vance Loiselle: In the 20th century, the primary technology innovations in real estate were the telephone and the MLS. This has heightened the need for digital tools for marketing, viewing, financing and closing on home purchases. The post-close nurturing process is woefully lacking and can be digitized.

Pre-qualification 285

Pre-qualification Agents Loan Officer Technology 285

Housing Wire

NOVEMBER 8, 2021

There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle. A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close.

VA loan 384

VA loan Agents Pre-approval Debt-to-income ratio 384

HomeLight

NOVEMBER 1, 2021

This means understanding which fees you’ll be responsible for when the sale closes. To better understand which closing costs are applicable to home sellers in Kentucky, we talked to Maggie Terry, a real estate agent for Keller Williams Realty in Louisville East. What are closing costs? Kentucky seller closing cost overview.

Closing costs 69

Closing costs Closing Purchase and sale agreement VA loan 69

Housing Wire

FEBRUARY 19, 2021

Pictures like these could cost – or save – you thousands of dollars when deals are about to close. The rise of AVMs over the years has waxed and waned based on the perceived risk of the product, but it’s caught fire over the last year with the COVID-19 pandemic and new initiatives by the Federal Housing Finance Agency.

Investor 369

Investor Brokerage MLS Loans 369

HomeLight

MAY 8, 2024

Real estate attorneys are not considered essential for closing in the state of Louisiana Real estate transfer taxes? These companies can help sellers cash out quickly, and many will cover a seller’s closing costs. No Is a real estate attorney required?

As-is 88

As-is Inspection Finance Residential 88