In a court filing July 23, CoStar Group has asked a judge for an order for expedited discovery in its legal conflict with realtor.com parent Move, Inc. Included in the filing is that James Kaminsky, the CoStar employee formerly employed by Move, who Move claims improperly accessed proprietary information to be used by CoStar, has… The post Employee at Center of CoStar/Realtor.com Legal Conflict Put on...
24 July 2024
JPAR® – Real Estate announced a significant reduction in its cap fee model, effective immediately. JPAR stated that the reduction in cap fees, from 23 to 16 sides—the lowest since 2016—is particularly beneficial for agents committed to their real estate careers, as it reduces agent transaction fees to less than $10,000 annually. This initiative provides… The post JPAR® – Real Estate Announces...
Rent prices continued to drop for the 11th straight month this June, according to the latest data from Realtor.com®. Despite continued decreases, however, rents remain elevated from the pre-pandemic levels of 2019. Realtor.com’s Rental Report for June found that overall rents decreased by 0.4% to $1,743—0.6% ($11) below the August 2022 peak. Breaking down the… The post Rent Prices Continue to...
Despite the most recent drop in average mortgage rates, mortgage applications decreased this week, down 2.2% from last week’s 3.9% uptick, according to the latest Weekly Applications Survey from the Mortgage Bankers Association (MBA) for the week ending July 19, 2024. This week’s data: The Market Composite Index, a measure of mortgage loan application volume,… The post Despite Drop in Rates, Mortgage...
Sales of single-family homes in June were 0.6% below the May rate of 621,000, reaching a seasonally adjusted rate of 617,000, according to data released by the U.S. Census Bureau and the Department of Housing and Urban Development. This is significantly below—7.4%, specifically—June 2023’s estimate of 666,000 new-home sales. Spencer Hakimian, founder of Tolou Capital… The post New-Home Sales Fall...
CoStar Group, the commercial real estate heavyweight that is making waves in residential spaces, announced in an earnings call July 23 that revenue for the quarter ended June 30, 2024 was $678 million, up 12% over revenue of $606 million for the quarter ended June 30, 2023. Net income was $19 million in the second… The post CoStar Says Homes.com Is ‘Fast Approaching’ Zillow in Traffic appeared first...
Above, Dave Karoly Dave Karoly Vice President of Sales & Operations, REALTOR® Lamacchia Realty Waltham, Massachusetts https://www.lamacchiarealty.com Region served: New England and Fort Lauderdale Years in real estate: 17 Number of offices: 17 Number of agents: 600 Best tip for getting the right listing price: Stop telling sellers the price. Instead, provide the guidance so… The post Navigating...
Six federal agencies—including the Consumer Financial Protection Bureau (CFPB), the Federal Housing Finance Agency (FHFA) and the Federal Deposit Insurance Corporation (FDIC)—recently announced a new standard of quality controls for automated valuation models, or AVMs, as used by mortgage originators and secondary market issuers. AVMs are algorithms that can estimate a property’s value using...
Century 21 Real Estate LLC. continues to fortify the brand’s presence in the Empire State with its latest affiliation of veteran-owned Herman & Co. Real Estate based in Staten Island. Since the brokerage’s founding in 2004 by current broker/owner, Herman Herrera, it has been responsible for over $1 billion in sales volume throughout Staten Island… The post Staten Island Brokerage Joins the...