With mortgage rates recently starting to retreat from their highs of close to 8%, homeowners may start to consider refinancing in order to save money on monthly payments or possibly change to a shorter term. But they need to be aware of some important considerations before proceeding. Refinancing could actually be a losing proposition, as…
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Above: Standing (left to right): Peggy Pratt and Michelle Fermin, CENTURY 21 North East. Sitting (left to right): Oralia Herrera, CENTURY 21 T.K. Realty, Inc.; Eva Angelina Romero, CENTURY 21 Capital Properties; Nora Aguirre, CENTURY 21 Americana According to the National Association of Hispanic Real Estate Professionals®’ (NAHREP®) 2023 State of Hispanic Homeownership Report, Hispanic…
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In fact, 44% of Americans think the housing market is at risk of crashing in the next year, according to a new report from LendingTree. LendingTree’s new survey of over 2,000 U.S. consumers looked at their opinions surrounding the potential of a housing market crash in 2024. The report found that many non-homeowners believe that…
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According to research by realtor.com®, down payments on homes in the U.S. reached a new peak in Q3 2023. The average down payment is 14.7%, and the median down payment amount is $30,000. As the report notes, down payments have increased alongside high mortgage rates and low inventory. This means a challenging market for buyers…
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To outsiders, a real estate agent’s job seems pretty sweet. They’re almost always smiling, dressed well, driving nice cars and simply showing houses to people who want to buy one. What’s so hard about that? Stacy Cole admits she had that misguided mindset when she decided to become a REALTOR®. She was working as the…
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Today, a Washington, D.C., federal appeals court heard oral arguments from lawyers from the Department of Justice (DOJ) and the National Association of REALTORS® (NAR) regarding a shuttered antitrust investigation ahead of a decision that could potentially have larger implications than any of the ongoing class action lawsuits. Over the course of half an hour,…
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If there’s one thing Burnett vs. the National Association of REALTORS® (NAR) proved over and above the verdict, it’s that federal class action lawsuits move at a glacial pace, taking years and years to go from the original filing of a case to the appeals conclusion. Indeed, it’s almost certain that the recently concluded Burnett…
The post Judge In Moehrl Case Refuses to Alter Schedule, Says Case Won’t Be ‘Influenced’ by Burnett appeared first on RISMedia.
Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday. As Freddie Mac notes, mortgage rates have continued to decline for five consecutive weeks. While the 30-year fixed-rate mortgage rates sit at 7.22% as of Nov. 30, 2023 (down from 7.29% the previous week), the 15-year…
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The January issue of RISMedia’s Real Estate magazine is now available, and not to be missed are several exclusive features, including an in-depth look at the five Latina powerhouse agents with Century 21 who are leading the charge for change in the industry. In addition, we take a look back at the Burnett vs. NAR…
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Photo Credit: Daniel Milstein for Sotheby’s International Realty Property Highlights: Location: Greenwich, Connecticut Sold For: $138.83 million Features: 13,519-square-foot main house with eight bedrooms and eight bathrooms. Added Appeal: 75-foot heated pool and spa and pool house, grass tennis court, three-bedroom gatehouse, two-bedroom carriage house, two greenhouses, two private beaches and walled gardens with century-old…
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As a broker or sales manager, your entire future sales revenue depends upon creating valuable relationships with each of your sales associates. When your agents rely on you for more than making sure the lights work at the office or that admin tasks are getting done, they look to you as a business partner and…
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The process of going through a divorce is undeniably challenging, with numerous emotional, legal and financial considerations. Amidst the upheaval, whether to buy a home can add another layer of complexity to an already intricate situation. You will see the factors to consider when contemplating the purchase of a home during or after a divorce.…
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The Personal Consumption Expenditures (PCE) index, maintained by the Bureau of Economic Analysis (BEA), tracks prices, consumer spending and fluctuations in them month to month. It is also the Federal Reserve’s preferred measure of inflation. If you want a sense of what the Fed’s board might do before their last meeting of 2023 in December,…
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Above: CoStar Founder and CEO Andy Florance. Photo by AJ Canaria. The glass booth, transparent except for looping letters spelling out “Homes.com,” sits at the back of what can best be described as a small settlement. Spread across several thousand square feet of the Anaheim Convention Center, the orange glow of the company’s branding shines…
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The 30-year fixed-rate mortgage (FRM) decreased for the fifth straight week, from last week’s average of 7.29% to an average of 7.22% this week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. This week’s numbers: 30-year fixed-rate mortgage averaged 7.22%, down from last week when it averaged 7.29%. A…
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Pending home sales dropped 1.5% in October, according to a Nov. 30 report issued by the National Association of REALTORS® (NAR). The Northeast posted a monthly gain in transactions while the Midwest, South and West all recorded losses. All four U.S. regions noted year-over-year declines in transactions. The Pending Home Sales Index (PHSI)—a forward-looking indicator…
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Across the U.S., 1.54 million mortgages secured by residential property (1 to 4 units) were issued in Q3 2023, representing a 3% decline from the prior three-month period, according to a new report from ATTOM. That drop-off marked the ninth decline in the last 10 quarters—a string broken only by a spike during Q2 2023.…
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RISMedia is excited to announce that Ken Baris, CEO of Jordan Baris Real Estate, will be heading up an industry-leading panel of real estate experts at the 2024 Real Estate’s Rocking in the New Year, the company’s fourth-annual all-virtual conference to be broadcast live on Jan. 11, 2024. Click here to register! Baris’s panel, “Lead…
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Buyer agents in the post-Burnett world must be more precise in their conversations with clients, while also being able to provide updated information on what’s happening in the legal realm regarding residential real estate sales. And getting contracts with new buyer clients that spell out how much they will be compensated is also crucial. Those…
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Editor’s Note: This is part of a monthly video series from the NATIONAL ASSOCIATION OF REALTORS® to inform and educate members about important aspects of being a real estate professional. Watch for this series each month in RISMedia’s Daily Real Estate Advisor. In this edition of Window to the Law, see why fiduciary duties are…
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