Real Estate News & Insights
The Agency Opens Fifth Texas Office
The Agency Rockwall will be led by Managing Partners Heather Stevens and Vanessa Griffin. Continue Reading The Agency Opens Fifth Texas Office
An Open Letter to America’s Real Estate Professionals: The Future of Homeownership Demands Our Leadership
Weekly Real Estate News’ publisher calls for a new emphasis on leadership in the real estate profession. Continue Reading An Open Letter to America’s Real Estate Professionals: The Future of Homeownership Demands Our Leadership
Virtual real estate plot sells for close to $1 million
Source:KFGO --- A patch of virtual land in the blockchain-based online world Decentraland sold for more than $900,000 on Thursday, in a record purchase for the platform, the Decentraland Foundation said. In Decentraland, ownership of virtual land is bought and sold in...
Henderson home breaks 2021 record with $14.69M price tag
Source: Review Journal --- A Henderson estate dubbed the house of water and located in the exclusive hillside community of Ascaya closed Thursday for $14.69 million, making it the highest price paid for a single-family home in 2021 and third-highest price ever paid...
More than half of homes sold above asking price in May
Source: Housing Wire --- Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another record high, up from 26% a year ago, according to a new report from...
Mortgage rates shoot higher after Fed Chairman Powell’s comments
Source: CNBC --- The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal Reserve...
Lumber Prices Are Falling Fast, Turning Hoarders Into Sellers
Source: The Wall Street Journal --- Lumber prices are falling back to Earth. Futures for July delivery ended Tuesday at $1,009.90 per thousand board feet, down 41% from the record of $1,711.20 reached in early May. Futures have declined 14 of the past 16 trading days....
How hot is California real estate? It got 99% of its jobs back
Source: Record-Bee --- California’s real estate industry — powered by low mortgage rates, a homebuying binge and a construction push — is nearly back to its pre-pandemic employment levels. When my trusty spreadsheet looked at state jobs data, 15 property-related...
Pocketbook Issues
Source: Scotsman Guide --- The world of loan payments has transformed dramatically over the past year due to the COVID-19 pandemic. Borrowers want and need more from their lenders, including expanded options on when, where and how to make payment. Lenders and...
That Indoor Basketball Court May Be Flashy, but Don’t Expect It To Boost Your Resale Value
Source: Realtor . com --- Even high-profile athletes aren’t exempt from the realities of the real estate market, and both Shaquille O’Neal and Michael Jordan have struggled for years to sell high-priced properties decked out with regulation-sized indoor basketball...
EPA Seeks to Revise Definition of Waters of the U.S.
Source: NAHB --- The U.S. Environmental Protection Agency (EPA) and Department of the Army (the agencies) have announced their intent to revise the definition of “waters of the United States” (WOTUS). EPA Administrator Michael Regan says that the Navigable Waters...
Survey: Staff retention tops list of 2021 lender concerns
Source: Scotsman Guide --- New data from The Mortgage Collaborative (TMC) revealed that personnel retention tops the concerns of mortgage lenders in 2021. According to the organization’s inaugural “The Pulse of the Mortgage Industry” survey, retention of current staff...
