Tue.Nov 26, 2024

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Did new home sales really just crash?

Housing Wire

Did today’s new home sales report really show an epic crash in sales? New home sales reports can be quite volatile from month to month. When I notice a significant increase or decrease compared to estimates, I often suspect that revisions will be made or that a one-time event may have influenced the figures. In this case, several factors contributed to the substantial decline in new home sales.

Sales 497
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Judge approves $700 million in deals with NAR, HomeServices

Real Estate News

A last-minute filing by the DOJ and a handful of objections failed to derail the settlements, which cap more than five years of litigation in Sitzer/Burnett.

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FHFA conforming loan limits increase to $806,500 in 2025

Housing Wire

The Federal Housing Finance Agency (FHFA) has set a new baseline conforming loan limit of $806,500 for one-unit properties in 2025, authorizing Fannie Mae and Freddie Mac to purchase mortgages up to this amount. The new limit reflects a 5.2% increase over the current $766,550 cap for 2024, aligning with home price trends. The adjustment indicates a weaker housing market this year, driven by still-elevated mortgage rates.

Loans 436
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Texas broker piles on to mandatory membership challenges

Real Estate News

A new complaint, like others filed in Michigan and Pennsylvania, claims that requiring association membership as a precondition for MLS access is monopolistic.

MLS 250
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The 2025 Real Estate Roadmap to Success

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.

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Look out below! New-home sales fall off a cliff

Housing Wire

After a year of strong results, sales of newly built homes took a major step back last month. Data released Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD) shows new-home sales in October clocking in at a seasonally adjusted annual rate of 610,000 — a 17.3% decline compared to September and a 9.4% decline year over year.

Sales 436
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How Co-Buying a Home Helps with Affordability Today

Keeping Current Matters

Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget.

Mortgages 232

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The DOJ has spoken. Are buyer agreements at risk?

Real Estate News

With the NAR settlement on the cusp of approval, a filing from the Department of Justice cast a shadow on a core part of the deal. Now what?

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Haven partners with Ownwell to streamline property tax monitoring and appeals

Housing Wire

Mortgage technology platform Haven is allowing its users to access property tax monitoring and protesting services. The New Jersey-based company has partnered with property tax service provider Ownwell , according to a recent joint announcement. Through this partnership, Haven will offer an escrow monitoring feature through the platform’s affiliate marketplace, or app store, which offers products and services that benefit servicers and borrowers.

Investor 419
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NAR’s settlement is up for final approval. Here’s why that matters

Inman

The National Association of Realtors settlement became the inciting incident for the most disruptive year for real estate in living memory. A judge is now expected to approve the deal Tuesday afternoon.

MLS 179
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Citi invests in mortgage platform Pylon

Housing Wire

Mortgage infrastructure provider Pylon received a minority strategic investment from Citi and closed a deal to sell mortgages on its platform through the bank’s mortgage trading desk, the parties announced on Tuesday. Pylon, founded in 2022, has Peter Thiel, the co-founder and former CEO of PayPal , among its investors. The list also includes venture capital firms Conversion Capital , Allegis Capital , QED and Fifth Wall.

Mortgages 418
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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.

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Fannie, Freddie loan limits upped to $806,500 in most markets

Inman

Mortgage giants will be allowed to back loans of up to $1.2 million in high-cost markets, providing ammo to critics who say goverment backing for mortgages adds to affordability woes.

Loans 174
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NAR’s commission lawsuit settlement receives final approval

Housing Wire

The National Association of Realtors (NAR) and the real estate industry at large have something to be thankful for this Thanksgiving. Judge Stephen Bough of the U.S. District Court in Kansas City, Missouri, on Tuesday granted final approval to NAR’s commission lawsuit settlement agreement , as well as the settlements reached by HomeServices of America and the numerous MLSs and brokerages that chose to opt into NAR’s settlement.

Brokerage 398
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HUD raising FHA ceiling in high-cost markets to $1.2M next year

Inman

Adjustment for rising home prices increases FHA ceiling in high-cost markets like New York, San Francisco and Washington, D.C., and raises the floor in low-cost markets to $524,225.

Marketing 174
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Mortgage rates are back above 7%. Is there relief in sight?

Housing Wire

The mortgage rate increases of the past two months continued this week even as the pace of increases showed more signs of slowing. But rates have also crossed the 7% threshold once again, which could represent a mental hurdle for home shoppers. According to data at HousingWire’s Mortgage Rates Center , the average 30-year conforming rate rose 3 basis points (bps) during the past week to reach 7.02% on Tuesday.

Mortgages 398
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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.

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Texas broker latest to file suit over NAR’s divisive 3-way agreement

Inman

Luz de Amor Eytalis took aim at rules that require "forced memberships" in local, state and national Realtor associations in order to access her local multiple listing service.

MLS 167
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FHA loan limit increases to $524,225 in 2025

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. 1, according to the publication of FHA Mortgagee Letter (ML) 2024-21. In 2024, those figures were $498,257 and $1,149,825, respectively.

FHA loan 370
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Court grants final approval to NAR’s landmark settlement deal

Inman

Judge Stephen R. Bough approved antitrust deals reached with the National Association of Realtors and HomeServices of America Tuesday afternoon.

MLS 187
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Case-Shiller home-price growth experiences September cooldown

Housing Wire

U.S. home-price growth continued to cool in September. The S&P CoreLogic Case-Shiller national home-price index (HPI) rose 3.9% annually to a reading of 324.80 in September, according to data released Tuesday. This increase is down from a 4.3% annual gain in August and a 5% jump in July , and it marks the lowest year-over-year increase since August 2023.

MLS 370
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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.

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Rates blamed again as US home price growth stalls in third quarter

Inman

Home prices continued to rise in September, albeit at a more sluggish pace, according to dueling reports released Tuesday by the Federal Housing Finance Agency and the S&P Dow Jones Indices.

Finance 163
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Year-end pricing strategies: How to position your listings for maximum appeal

Housing Wire

At any time of year, an effective pricing strategy can be the difference between a home that sells quickly at a desired price and one that languishes on the market for months. There’s no time when this is more apparent than at the end of the year, as holidays and family gatherings overtake the urgency of finding and moving into a new home. Although your sellers have already made a great decision by choosing to hire a real estate agent (which can add about $34,000 more to their final sale price),

Staging 370
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10 ways to create marketing buzz for your real estate business

Inman

From direct mail to elevated service standards, these strategies from trainer Bernice Ross are guaranteed to get people talking about you for all the right reasons.

Marketing 166
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Transforming the mortgage and real estate process: Insights from Tech100 leaders

Housing Wire

The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2025 Tech100 Award are open now through December 16, 2024. Click here to nominate a tech organization. For the past 14 years, HousingWire’s Tech100 award has been celebrating the most innovative and impactful tech organizations in real estate and housing.

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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.

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The dual benefits of all-cash home sales and moving prior to selling

Inman

Whether you're a new agent or simply navigating a tight market, all-cash offers can be a game-changing part of your strategy when working with buyers, New American Funding's Rick Arvielo writes.

Sales 158
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FHA’s HECM limit rises above $1.2 million in 2025

Housing Wire

The limit for federally backed reverse mortgages is increasing for the ninth consecutive year. The Federal Housing Administration (FHA) announced on Tuesday via Mortgagee Letter (ML) 2024-22 a maximum claim amount of $1,209,750 in 2025. That’s up $59,925 from the current limit of $1,149,825 for Home Equity Conversion Mortgages (HECMs), which equates to an increase of roughly 5%.

Lending 370
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Compliance and off-market listings: The fiduciary duty at play

Inman

Regardless of the CCP’s future, fiduciary duty remains a constant in real estate practice, demanding an unwavering commitment from licensees, Summer Goralik writes.

Marketing 165
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Home prices rose in 49 states in Q3, FHFA reports

Housing Wire

U.S. home prices rose 4.3% year over year in the third quarter of 2024, per the latest House Price Index (HPI) released Tuesday by the Federal Housing Finance Agency (FHFA). Compared to the second-quarter figure, home prices were up 0.7%. And the FHFA’s seasonally adjusted monthly index for September also rose 0.7% from August. “U.S. house price growth slowed in the third quarter, continuing a trend that started in the fourth quarter of the previous year,” Anju Vajja, deputy director

Finance 369
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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.

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KW nabs high-performing Bay Area Compass team

Inman

The Shee Group has done $114.6 million in volume so far this year. The team, led by Renna Shee, has affiliated with a KW market center in Cupertino, California.

Marketing 167
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Baby boomers’ renovation needs are expected to accelerate: Property Brothers

Housing Wire

To better accommodate their needs as they age, baby boomer homeowners will likely need to renovate their homes to more easily accomplish goals related to aging in place and living in a safer, more comfortable dwelling. This is according to housing experts Jonathan and Drew Scott in a conversation with Yahoo Finance. The Scotts are the eponymous “Property Brothers” from the TV series of the same name, broadcast in the U.S. on HGTV.

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Is office conversion a viable model for multifamily housing growth?

Inman

Despite the need for more affordable housing, writes multifamily expert Michael Zaransky, it's unlikely that office conversions will solve the problem more effectively and cheaply than building new. In some cases, however, it makes sense.

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23 creative open house ideas to drive foot traffic, get leads and sell fast

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. If an uptick in housing inventory and more favorable interest rates materialize in 2025, you’ll still need to find creative ways to generate buzz for your listings and expand your client network. Even amid the growing popularity of TikTok videos and Instagram reels, real estate open houses are still one of the best ways to get new clients in the d

Staging 398
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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.