Inman
OCTOBER 25, 2023
Agents are doubling down on networking to drive business in tough times, according to results from the Inman Intel Index, excerpts of which are available to Select subscribers for the first time.
Housing Wire
OCTOBER 25, 2023
While existing homebuyers have been battling high mortgage rates for months — which are now at 8% — the builders are wooing buyers with lower rates and incentives. Today, the new home sales data beat expectations and surprised people. However, sales have been rising slowly for some time. Using a low bar of sales from last year, the builder’s incentives have created more sales growth and their significant advantage is that they’re offering lower rates to move homes.
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Keeping Current Matters
OCTOBER 25, 2023
Are you wondering if it makes sense to buy a home right now?
Housing Wire
OCTOBER 25, 2023
With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association. “Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995,” Joel Kan, MBA’s vice president and deputy chief economist, said.
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Real Estate News
OCTOBER 25, 2023
The median sale price for new homes dropped more than 12% in the last year, while sales shot up, outpacing inventory.
Housing Wire
OCTOBER 25, 2023
With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. Buyers that did manage to purchase homes made higher down payments as home-price growth remained stubbornly elevated in Q3, according to a new report from LenderLogix. The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
OCTOBER 25, 2023
For nearly 30 years, Deion Sanders has been a recognizable name in the sports world. He’s made headlines again this summer after being named the new head football coach at the University of Colorado Boulder and subsequently undergoing a roster overhaul that resulted in the departure of 81% of last year’s roster. A majority of the exits were made after Sanders and the coaching staff audited the roster and determined it wasn’t optimized for the desired productivity and results.
Real Estate News
OCTOBER 25, 2023
“We want to set up agents to be million-dollar producers” and remain W-2 employees, Jason Aleem, Redfin’s SVP of real estate operations, told Real Estate News.
Housing Wire
OCTOBER 25, 2023
A brewing crisis is emerging around homeowners insurance and thus far the finance and insurance community has not offered any viable solutions. The annual number of weather/climate-related disasters exceeding $1 billion per event has more than doubled over the last five years from historical averages. Homeowners in affected markets have experienced increases in premiums that threaten their financial soundness or are finding cancellation notices in their mailboxes.
Real Estate News
OCTOBER 25, 2023
During its annual conference this week, the brokerage unveiled four new tools and programs designed to help agents improve their financial future.
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
OCTOBER 25, 2023
KANSAS CITY, Missouri — Courtroom proceedings in the Sitzer/Burnett commission lawsuit continued on Wednesday — after some drama — with HomeServices of America CEO Gino Blefari taking the stand. Blefari was cross-examined by Michael Ketchmark, the lead attorney for the plaintiffs. As Ketchmark began his questioning, he tried to show that the structure of HomeServices as the parent company of so many affiliates and franchises had the effect of enforcing the National Association of Realtors’
Real Estate News
OCTOBER 25, 2023
Plaintiffs in the Nosalek case want to reach a deal with RE/MAX and Anywhere following the brokerage companies’ settlements in Sitzer/Burnett and Moehrl.
Housing Wire
OCTOBER 25, 2023
New home sales figures exceeded projections in September despite mortgage rates at 23-year high, declining mortgage applications and waning builder confidence. In September, the sales pace of new homes picked up considerably, up 12.3% compared to August ’s revised rate of 676,000. New home sales in September reached a seasonally adjusted annual rate of 759,000, according to data published on Wednesday by the U.S.
Inman
OCTOBER 25, 2023
On Tuesday, plaintiffs’ attorney Michael Ketchmark played a video of a Tom Ferry interview with Allan Dalton of Berkshire Hathaway HomeServices that drew objections and threatened to derail proceedings.
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Housing Wire
OCTOBER 25, 2023
The Financial Crimes Enforcement Network ( FinCEN ), a bureau within the U.S. Treasury Department, announced last week that it will again be expanding its Geographic Targeting Orders (GTOs). The new requirements are effective through mid-April 2024. The GTOs require title companies to identify the people behind shell companies used in all-cash purchases of residential real estate.
Inman
OCTOBER 25, 2023
First-time buyers are less likely than homeowners to be holding out for lower mortgage rates. But they hold a host of other priorities and concerns, according to an Intel analysis of buyer behavior.
Housing Wire
OCTOBER 25, 2023
A combination of mortgage volatility and extreme margin compression forced Homestar Financial Corp. to suspend retail operations. The Gainesville, Georgia-based lender announced plans to cease retail operations while accepting mortgage locks through Oct. 31, 2023. The decision to shut down retail operations comes on the heels of additional mortgage volatility driven by the macro economy, Homestar said in a statement.
Inman
OCTOBER 25, 2023
HomeServices of America attorneys filed a motion Wednesday requesting a mistrial in the Sitzer | Burnett trial, saying a video submitted a day earlier jeopardizes its chances for a fair trial.
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Housing Wire
OCTOBER 25, 2023
Long known for its salaried compensation for agents, Redfin is trying a new pay model in two of the nation’s largest housing markets to help boost its market share. Under Redfin Max , a new pay plan being rolled out in Los Angeles and San Francisco , Redfin agents earn commission splits of up to 75% for transactions they generate on their own, according to a company announcement on Wednesday.
Inman
OCTOBER 25, 2023
Loan applications slipped to lowest level since 1995 as mortgage rates climb for the seventh week in a row, according to a weekly survey of lenders by the Mortgage Bankers Association.
Housing Wire
OCTOBER 25, 2023
First Team Real Estate , the largest independent brokerage in California , left Christie’s International Real Estate , the company first told Inman on Wednesday. Christie’s International Real Estate told Inman that the parting was “mutual.” “Christie’s will be a great franchise, but First Team is something different from that,” First Team founder Cameron Merage said in a statement.
Inman
OCTOBER 25, 2023
New-home sales skyrocketed in September, soaring to a 20-month high, according to data issued Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.
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Housing Wire
OCTOBER 25, 2023
The plaintiffs in the Nosalek buyer broker commission lawsuit have asked Judge Patti Saris of the U.S. District Court in Boston to stay their case, along with defendants RE/MAX and Anywhere. In their motions to stay the case, the plaintiffs in the Nosalek suit state that they have agreed to the “ substantive terms ” of Anywhere ‘s and RE/MAX ‘s settlement agreements in the Sitzer/Burnett and Moehrl buyer broker commission lawsuits.
Inman
OCTOBER 25, 2023
The largest privately held brokerage in the state of California has decided to separate from Christie's International Real Estate, launch a rebrand and promote former COO Michele Harrington to CEO, Inman has learned exclusively.
Housing Wire
OCTOBER 25, 2023
It has been an eventful and drama-filled 24 hours in Kansas City, Missouri, for the Sitzer/Burnett class-action antitrust buyer broker commission lawsuit. On Tuesday afternoon, after the National Association of Realtors finished its defense, HomeServices of America took the floor. HomeServices’ lead attorney Robert MacGill called Ron Peltier, the former CEO of Berkshire Hathaway HomeServices of America , to testify.
Inman
OCTOBER 25, 2023
In a powerful and athletic contemporary dance routine, The Agency CEO and dance partner Emma Slater achieved their "best dance yet" on Tuesday night's episode, judge Bruno Tonioli declared.
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Housing Wire
OCTOBER 25, 2023
Mr. Cooper Group improved its profitability in the third quarter of 2023 mainly due to the performance of its servicing portfolio, which benefited from high rates and low delinquency. However, the company still faces challenges on the origination side of the business, resulting in lower earnings and origination in the period. On Wednesday, top executives at the company told analysts that Mr.
Inman
OCTOBER 25, 2023
Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program.
Housing Wire
OCTOBER 25, 2023
Florida -based Keyes Company , an independent real estate brokerage , partnered with housing data aggregator BHR , the company announced Tuesday. Through this collaboration, all Keyes agents will benefit from RealReports, BHR’s flagship product. The latter gathers property data , ranging from climate risk to property valuation, in one place. To do so, RealReports is pulling information from over 30 data providers.
Inman
OCTOBER 25, 2023
New legal filings propose that MLS PIN class members from the Nosalek lawsuit be included in the "substantive terms" of the Sitzer/Burnett and Moehrl settlements with Anywhere and RE/MAX.
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