Housing Wire
JANUARY 19, 2024
Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 million existing homes were sold, the fewest since 1995. “Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November.
Real Estate News
JANUARY 19, 2024
According to the latest NAR data, just 4.09 million existing home sales were reported in 2023, the lowest number in nearly three decades.
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Housing Wire
JANUARY 19, 2024
Country Club Mortgage , a home lender based in California , has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show. “This letter serves to give you an amended 60-day notice of permanent layoffs and facility closures effective Feb. 6, 2024,” Sherry Carson, human resources generalist at Country Club Mortgage, wrote in a letter sent to the Employment Development Department in California in early December.
Real Estate News
JANUARY 19, 2024
The latest filing focuses on the Northeastern part of California and takes aim at MetroList MLS as well as multiple associations and brokerages.
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Housing Wire
JANUARY 19, 2024
Tennessee-based community bank Patriot Bank agreed to pay $1.9 million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices. The DOJ alleged that from 2015 through at least 2020, Patriot avoided providing mortgage services to majority- Black and Hispanic neighborhoods in Memphis, Tennessee and discouraged people seeking credit in those communities from obtaining home loans.
Real Estate News
JANUARY 19, 2024
All eyes are on inventory levels — which are up slightly compared to a year ago — as the market gears up for spring.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
JANUARY 19, 2024
A former female employee claims she was harassed, then fired for resisting advances from Chris Nevada of the Nevada Real Estate Group.
Housing Wire
JANUARY 19, 2024
Nonbank mortgage lender and servicer loanDepot has started to restore functionality to some of its technology systems impacted by an early January cyberattack. However, its operations remain impacted as it continues to investigate the incident. On Jan. 18, the company began to restore several impacted systems over the course of the day beginning with its servicing customer portal.
Inman
JANUARY 19, 2024
Senior housing expert Rachael Hite shares data around seniors, aging in place, downsizing and the real cost of retirement. Housing experts predicting a "Silver Tsunami" are underestimating what boomers actually want.
Housing Wire
JANUARY 19, 2024
Real estate professionals in California are facing yet another commission lawsuit. Filed on Thursday in U.S. District Court in Sacramento by Willsim Latham, LLC., the copycat suit alleges that real estate industry players have colluded to artificially inflate real estate agent commissions. The lawsuit names MetroList Services , the area’s MLS, Sacramento Association of Realtors , Placer County Association of Realtors , El Dorado County Association of Realtors , Lodi Association of Realtors , Yol
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Inman
JANUARY 19, 2024
Homesellers allege 36 Realtor association, brokerage, and multiple listing service defendants conspired to inflate buyer broker commissions in violation of state and federal antitrust laws.
RIS Media
JANUARY 19, 2024
Consumer sentiment grew an astounding 13.1% in January, following a sharp increase in December, according to data from the University of Michigan. “Consumer sentiment soared 13% in January to reach its highest level since July 2021, showing that the sharp increase in December was no fluke. Consumer views were supported by confidence that inflation has… The post Consumer Sentiment Soars in January appeared first on RISMedia.
Inman
JANUARY 19, 2024
Government alleges competitors in Patriot's peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020.
RIS Media
JANUARY 19, 2024
When Bright MLS Chief Economist Dr. Lisa Sturtevant finished predicting 2024 mortgage rates, inventory levels, inflation numbers and more at RISMedia’s Rocking in the New Year virtual event during her session titled, “The 2024 Economy: Are Things Finally Getting Better?” she made two points that REALTORS® nationwide could take to heart. One was that many… The post All Signs Point to 2024 Home Sales Reversing Negative Trends of 2023 appeared first on RISMedia.
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Inman
JANUARY 19, 2024
Listing tour and digital twin solution iGuide has updated its suite of products with a faster, cost-efficient method for creating immersive property experiences called iGuide Instant.
Eye on Housing
JANUARY 19, 2024
Despite record high inflation rates, rising interest rates, and worsening housing affordability, young adults continued the post-pandemic trend of moving out of parental homes in 2022. The share of young adults ages 25-34 living with parents or parents-in-law declined and now stands at 19.1%, according to NAHB’s analysis of the 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS).
Inman
JANUARY 19, 2024
In some markets, prime real estate close to one of the nation's leading destinations can be had for as little as $110,000. Elsewhere, it might cost a homebuyer several millions of dollars to live next to their favorite landmark.
RIS Media
JANUARY 19, 2024
Sentiment in the remodeling market saw a slight increase in Q4 2023, demonstrating an increased willingness in the housing market to tackle fixer uppers and home improvement projects. According to the latest National Association of Home Builders (NAHB)/Westlake Royal Remodeling Market Index, remodeling market sentiment grew two points to a reading of 67 in Q4… The post Remodeling Market Sentiment Improves in Q4 2023 appeared first on RISMedia.
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.
Inman
JANUARY 19, 2024
The new lawsuit — the second filed in California this week — takes aim at rules enacted and enforced by MetroList and complied with by some of the nation's biggest real estate firms.
Maximum Exposure Real Estate
JANUARY 19, 2024
Tips to Avoid Getting Robbed From an Open House If you open your house to visitors hoping to sell it, it is only realistic to wonder if any strangers who come through your door are looking to steal something. You don’t have to be suspicious by nature to want to protect your home and your […] The post How to Avoid Getting Robbed From an Open House appeared first on Maximum Real Estate Exposure.
Inman
JANUARY 19, 2024
One of a number of consumer-facing solutions that promises to minimize the role of the agent for the sake of efficiency, this platform still lacks some of the advanced technologies needed to advance the transaction beyond the reach of those licensed to sell homes.
RIS Media
JANUARY 19, 2024
Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. The latest Primary Mortgage Market Survey® from Freddie Mac, released January 18, 2024, comes with big news: mortgage rates are at their lowest since May 2023. The 30-year fixed-rate mortgage currently sits at 6.6%, while the… The post Mortgage Mix: Rates Fall While Applications Continue to Increase appeared first on RISMedia.
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
JANUARY 19, 2024
The Airbnb Housing Council will advise the home-sharing company on policies and initiatives it can support to combat housing affordability and inventory issues.
RIS Media
JANUARY 19, 2024
NextHome Co-Founder and CEO James Dwiggins thought the residential real estate industry’s current buyer agent commission structure would lose in court if challenged years before the Burnett trial even began. He was proved correct last October, when the National Association of REALTORS® (NAR) and other defendants were found to have conspired to inflate commissions in… The post NextHome CEO on Burnett: ‘The Industry Lost, and a Settlement Is the Only Solution’ appeared first on RISMedia.
Inman
JANUARY 19, 2024
California attorney general Rob Bonta claimed in a civil lawsuit filed in LA County Superior Court that Shangri-La Industries illegally put developments in the state's Project Homekey homeless housing program under threat by borrowing against them.
RIS Media
JANUARY 19, 2024
Existing-home sales decreased 1% from November to a rate of 3.78 million in December, down 6.2% year-over-year, according to a new report from the National Association of REALTORS® (NAR). 2023’s total reading of 4.09 million sales is the lowest level in 30 years, while the median price reached a record high of $389,800 in 2023.… The post Existing-Home Sales Reach Lowest Level in 30 Years appeared first on RISMedia.
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Inman
JANUARY 19, 2024
Federal Judge Thomas S. Zilly declined REX's motion for a retrial on Thursday. The company had been a years-long battle with Zillow over alleged antitrust activity regarding its IDX policies.
Brownstoner
JANUARY 19, 2024
You can embrace some woodland style, inside and out, with this mid-century house that is a bit of a time capsule with much of its original character intact. That includes an indoor garden complete with a tree, a sunken living room, and wood-covered walls and ceilings. The Rockland County house… Read More > The post Rockland County Mid-Century Modern House With Atrium, Sunken Living Room, Yours for $625K appeared first on Brownstoner.
Inman
JANUARY 19, 2024
Lawsuit after lawsuit dropped this week, with no end in sight. How will it affect your professional future, and what can you do to strengthen your business?
Bigger Pockets
JANUARY 19, 2024
Foreclosure numbers rose steadily throughout 2023 and increased year-over-year from 2022. Now, as we enter 2024, will those numbers hold up, and what should you make of them?
Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty
The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.
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