Mon.Oct 28, 2024

article thumbnail

The unexpected strength of home prices this year

Housing Wire

We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. Given the unrelenting mortgage costs, generally weak homebuyer demand, and the year’s rising supply of unsold homes, I’ve been expecting home prices to recede a bit in the second half of this year. They have not. That’s an important lesson to learn from when looking into next year.

Mortgages 476
article thumbnail

Why Your House Will Shine in Today’s Market

Keeping Current Matters

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from.

Marketing 243
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New objection to NAR settlement targets business practice changes, plaintiffs’ attorneys fees

Housing Wire

After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. In a document filed on Monday in U.S. District Court in Kansas City — less than a month before the NAR settlement is slated for its final approval hearing — Monestier took issue with the business practice changes, sayi

article thumbnail

Real estate in for a fright as mortgage rates return to 7%

Real Estate News

The latest numbers suggest that, for the third consecutive fall season, rates will crest that dreaded threshold.

Mortgages 274
article thumbnail

Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

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.

article thumbnail

FHFA to allow alternative appraisal methods on purchases up to 97% LTV 

Housing Wire

The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado. The maximum LTV ratio will increase from 80% to 90% for appraisal waivers and from 80% to 97% for inspection-based appraisal waivers, consistent with standard guide eligibility guidelines.

article thumbnail

Douglas Elliman fires brokerage CEO

Real Estate News

Scott Durkin, who led Douglas Elliman Realty, was terminated just days after the CEO of its parent company stepped down.

Brokerage 260

More Trending

article thumbnail

NAR board punts decision on Clear Cooperation

Real Estate News

The Leadership Team will now take up the issue, with "no specific date" for resolution. Meanwhile, CMLS calls a hasty repeal of CCP "reckless and unnecessary.

196
196
article thumbnail

MISMO reverse mortgage work group on track to deliver new standards

Housing Wire

The Mortgage Industry Standards Maintenance Organization (MISMO)’s dedicated reverse mortgage development work group is targeting January 2025 as the release window for reverse mortgage standards it is helping to develop. Industry professionals hope these standards can go a long way toward normalizing reverse mortgage products within the mainstream lending ecosystem.

Mortgages 447
article thumbnail

Authorities arrest missing San Antonio agent’s husband

Inman

Real estate agent Suzanne Simpson has been missing since Oct. 7. Olmos Park authorities have arrested her husband, Brad, for obstructing a search of the couple's home last week.

Agents 184
article thumbnail

How to leverage a growth mindset to drive our industry (and your business!) forward

Housing Wire

I have attended several industry events recently and so many of the discussions continue to focus on the short game—top of funnel. I find myself wondering after all these years and despite abundant real estate tech innovations to support the entire buyer/seller lifecycle, are we stuck as an industry in a fixed mindset, unable to move beyond simply lead gen?

article thumbnail

Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

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.

article thumbnail

World Series of Luxury: 16 swinging homes of the Dodgers and Yankees

Inman

As the players duke it out on the field, Inman readers will decide which star's pad reigns supreme by their votes. The final winner must hit it out of the park to determine the best luxury home of all.

183
183
article thumbnail

Only 16% of women are confident about their retirement prospects

Housing Wire

Roughly 16% of women workers are “very confident” that their retirement prospects will lead them to have a satisfactory lifestyle, illustrating that women remain at greater risk than men for achieving a sustainable retirement. This is according to a new survey-based report from the Transamerica Center for Retirement Studies. “Women have made great strides in educational attainment and access to career opportunities in recent decades,” Catherine Collinson, president and CEO of the Transamerica In

As-is 446
article thumbnail

Technology can help real estate leaders navigate Clear Cooperation

Inman

Before drastic changes are made to Clear Cooperation, CoreLogic's Devi Mateti writes, it's worth noting that existing technology solutions already provide much of the flexibility being debated.

article thumbnail

FHFA expands fee-based alternative to repurchase loans to all approved lenders

Housing Wire

On Monday, the Federal Housing Finance Agency (FHFA) announced that all approved lenders will have access to a fee-based alternative to repurchase Freddie Mac ’s performing loans with defects, expanding a pilot program launched earlier this year. In addition, the FHFA announced that government-sponsored enterprises ( GSEs ) will give 60 days of advance notice for increases to their base guarantee fees greater than one basis point when the loans are delivered through the mortgage-backed security

Loans 446
article thumbnail

The Broker Action Plan for the Post-NAR Lawsuit Landscape

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.

article thumbnail

Existing-home sales show the market is still frozen: Economist

Inman

Windermere’s Principal Economist Jeff Tucker looks at September’s "disappointing" existing-home sales report and discusses some of the factors impacting the numbers.

Sales 185
article thumbnail

Are you prepared to respond as borrower demand shifts?

Housing Wire

Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index. This increased refinance incentive, and mortgage applications reached their highest level in more than two years—surging by 11% according to the Mortgage Bankers Association in the week following the rate cut.

article thumbnail

Scott Durkin terminated from Elliman days after Lorber’s exit

Inman

Durkin's departure was announced in an SEC filing on Monday and came after reports emerged about the nature of former Elliman CEO Howard Lorber's retirement, which was allegedly pressured by Elliman's board.

Brokerage 179
article thumbnail

In letter to NAR, CMLS voices strong support for Clear Cooperation rule

Housing Wire

After staying silent on the topic for nearly two months, the Council of Multiple Listing Services (CMLS) finally weighed in on the debate surrounding the Clear Cooperation Policy (CCP) of the National Association of Realtors (NAR). In an email sent to members last week, CMLS CEO Denee Evans wrote that the group believes that CCP should remain in place and that any modifications made “should preserve the spirit and effect of the policy.

Brokerage 435
article thumbnail

Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

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.

article thumbnail

Mortgage rates back at 7% as bond market investors stage rebellion

Inman

"Bond vigilantes" figure "no matter which party wins the White House and the Congress, fiscal policies will bloat the budget deficit and heat up inflation," Wall Street veteran Ed Yardeni warns.

Staging 172
article thumbnail

eXp Realty partners with Sisu to bring data insights to agents

Housing Wire

In an environment where technology is increasingly becoming a recruitment tool for brokerages, eXp Realty has partnered with a data provider in an effort to give its agents an advantage over the competition. The brokerage on Monday announced a new partnership with Sisu, a real estate business intelligence platform that provides agents the ability to set goals, monitor performance and compete with each other via a leaderboard and individual contests.

Agents 433
article thumbnail

TikTok Trends: Will you take the winter arc challenge?

Inman

Want to avoid falling behind on business or personal goals this holiday season? Rachael Hite tells you how to embrace the TikTok winter arc trend to stay ahead of the game.

Agents 172
article thumbnail

Douglas Elliman fires brokerage CEO Scott Durkin

Housing Wire

Douglas Elliman continues to shake up its leadership team. In a document filed on Friday with the Securities and Exchange Commission (SEC), the firm announced the termination of Douglas Elliman Realty CEO Scott Durkin, as first reported by The New York Times. According to the filing, Durkin was “terminated, effectively immediately.” Durkin’s dismissal came just days after the firm announced the retirement of parent company CEO Howard Lorber.

Brokerage 427
article thumbnail

Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

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.

article thumbnail

7 expense-cutting strategies for real estate teams in 2025

Inman

Cutting expenses in 2025 doesn’t mean sacrificing quality, Chris Pollinger writes. By strategically managing your budget, you can maintain profitability and reinvest savings into the areas that truly drive growth.

article thumbnail

Optimal Blue drops three new products at MBA Annual

Housing Wire

Optimal Blue on Monday announced three major product releases — the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. “Each of these newly announced updates helps our clients address changing market conditions with agility, clarity, and precision,” Joe Tyrrell , CEO of Optimal Blue , said in a statement. “From loan officers to secondary marketing teams

article thumbnail

The 2 pillars of a rewarding referral pipeline

Inman

For real estate professionals, receiving a referral is a testament to a job well done — and can contribute to the strength of a business.

179
179
article thumbnail

The Loan Store partners with Gateless for AI-powered mortgage underwriting

Housing Wire

Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.

Loans 397
article thumbnail

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.

article thumbnail

Winners of eXp Realty’s eXpcon Hackathon announced

Inman

At eXp Realty’s first-ever eXpcon Hackathon, held in Miami Beach, Florida, on Oct. 26, industry innovators competed to showcase projects aimed at creating cutting-edge real estate solutions using OpenAI technology, and the brokerage has officially announced the winners.

Brokerage 160
article thumbnail

Third of sale stock has sub-C EPC rating – claim

Estate Agent Today

More than a third of all properties currently listed for sale have an energy performance certificate (EPC) rating below a C, although this figure climbs as high as 46% in some major cities, research shows.

Sales 111
article thumbnail

Douglas Elliman Terminates CEO Scott Durkin Amid Investigations

RIS Media

Scott Durkin, president and CEO of Douglas Elliman Real Estate and longtime New York real estate luminary, has been terminated from his position, according to an SEC filing and multiple media reports. The news comes after the New York-based mega brokerage’s CEO and chairman Howard Lorber stepped down from the board last week, and reports… The post Douglas Elliman Terminates CEO Scott Durkin Amid Investigations appeared first on RISMedia.

article thumbnail

Help to Buy interest payments set to generate £2bn for Treasury – claim

Estate Agent Today

The Government’s now-defunct Help to Buy Equity Loan scheme has returned more than £900m so far to the Treasury and could generate more than £2bn eventually, research suggests.

Equity 107
article thumbnail

The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.