Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising
The median U.S. home pierce rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023 The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from a year earlier—one of the biggest jumps since October 2022. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The average weekly mortgage rate hit 7.1% this week, its highest level since November 2023, as it ...
First Time Registration Policy is a Myth
Forgive me if I step on some toes. I don’t mean to, but I need to correct a long-standing myth. The misunderstood first-time registration policy has cost builders thousands of sales and Realtors millions in commission, and it has got to stop! It is a myth. Pardon the personal references, but I need to crow. What you are about to read can put thousands of dollars in your pocket and generate a sale the builder would have missed. For more than twenty years, I sold new homes as a listing age...
Innovative Providence Developer to Continue Paying Co-Broker Commissions
Matt Brown, vice president of sales and marketing for ABD Development in Davenport, FL, has an uncanny vision for meeting home builder sales challenges early and head-on. His response to the unsettling NAR settlement is a case in point. But resolving co-broker issues is not his first rodeo. Let’s understand why this is important. The NAR settlement will become effective in mid-July, requiring major changes in how Realtors practice their profession. The biggest impact will affect re...
Listings and Sales Stumble as Sellers and Buyers Take Easter Break
Housing costs remain stubbornly high, deterring some buyers–but Redfin economists say costs could come down soon New listings of U.S. homes for sale rose 8.4% from a year earlier during the four weeks ending March 31, the smallest increase in about seven weeks, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. What sellers are doing: Year-over-year growth in new listings slowed because some sellers took a break over Easter, which fell over a week...
Offering Some Gentle Advice and Practical Tips for Home Selling-Buying
Offering Some Gentle Advice and Practical Tips for Home Selling/Buying Real Estate Licensees in View of the Proposed Settlement of the Currently Most Dominant Realtor/Broker Commission Litigation By Summer Goralik, Real Estate Compliance Consultant, and co-authored by and in collaboration with, Wayne S. Bell, the former CA Real Estate Commissioner Amidst the multitude of lawsuits confronting Realtors and the real estate industry, and in light of the recent proposed settlement proffered by t...
REALM Launches Two New Innovative Property Marketing Media Channels and Taps Former Peloton Sales Leader Crystal Pollard as Managing Director
Jackson Hole, WY March 26, 2024 REALM™ , the membership and platform for elite luxury real estate professionals from 110 different brokerages around the globe announces the appointment of Crystal Pollard as Managing Director for REALM. Pollard brings to REALM nearly eight years as Sales Manager for Peloton Interactive in the Dallas/Fort Worth market. “Throughout her impressive career Crystal Pollard has been a catalyst for positive change, strategic growth and innovation,” says REALM...
Existing-Home Sales Vaulted 9.5% in February, Largest Monthly Increase In A Year
Existing-home sales climbed in February, according to the National Association of Realtors®. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions. Total existing-home sales[1] – completed transactions that include single-family homes, townhomes, condominiums and co-ops – bounced 9.5% from January to a seasonally adjusted annual rate of 4.38 million in February. Year-over-year, sale...
New Home Sales May Get Sales Boost With NAR Settlement
Homebuilders who pay co-broker commissions could be in for accelerated absorption rates if they hold their current commission positions. In all my years, I have never seen the opportunity so ripe for homebuilders to solidify their relationships with Realtors. How? By the only thing that matters to homebuilders: access to qualified, motivated home shoppers. General real estate agents may not see the commission listed in MLS but will see it on the builder's website and other promotions. Builders k...
Compass East Bay Founder Teams Up with Top East Bay Producer
San Francisco, CA - Friday, March 8, 2024 - Compass, the largest residential real estate brokerage in the United States by volume[1], announces that Compass East Bay founding agent Rick Richetta is teaming with Alex Michas, a leading producer in the Oakland/Berkeley market to create a powerful new luxury team. With more than 40 years of combined East Bay real estate experience, both leaders independently have earned a reputation for success in the market. Michas joins Compass from a Keller...