Today's Headlines - Realty Times

First let me start out by saying I am not an attorney and all the views here are my own opinions based on the public information and conversations I have had with those in the industry. The recent settlement between NAR and the DOJ contains many items that will need to be addressed and dealt with, all before July 2024 if we are to believe the initial reports. That said, there is more information to cover than we can possibly review in a short blog post, but here are some of the highlights I have spotted and will cover more deeply in future posts.

•  This settlement only covers members of NAR and those companies that have completed LESS than two billion dollars in transactions.

•  Since not all agents and companies are members of NAR, they are NOT covered by this agreement, but they likely will be affected by it none the less.

•  This will also impact the local MLS that publish real estate information as to what they can and can’t publish.

•  The outline of this agreement is supposed to be final and in place by July 2024.

•  The main item of change will be the requirement of buyers to pay their own agent compensation or negotiate those fees as part of their offer to purchase.

•  Secondary items are likely to have an impact on agents to represent the value of their fees, the issue of acceptance of sellers to continue to pay for buyer representation, and the likelihood that some buyers will now be blocked from home ownership due to restrictions on the amount or the ability of seller’s concessions toward purchase costs. This will especially impact many VA buyers and those who must use seller concessions to their fullest extent to get into that home.

I am working with real estate and financial professionals to dig deeper into the challenges and potential solutions. I have even reached out to members of congress to see what may or may not be possible to prevent significant disruptions to the home buying process in the future. There is a lot to discuss, if you would like to connect, please reach out: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 25 March 2024 00:00 Written by

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.87 percent.

“After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” said Sam Khater, Freddie Mac’s Chief Economist. “As the spring homebuying season gets underway, existing home inventory has increased slightly and new home construction has picked up. Despite elevated rates, homebuilders are displaying renewed confidence in the housing market, focusing on the fact that there is a good amount of pent-up demand, an ongoing supply shortage and expectations that the Federal Reserve will cut rates later in the year.”

News Facts

  • The 30-year FRM averaged 6.87 percent as of March 21, 2024, up from last week when it averaged 6.74 percent. A year ago at this time, the 30-year FRM averaged 6.42 percent.
  • The 15-year FRM averaged 6.21 percent, up from last week when it averaged 6.16 percent. A year ago at this time, the 15-year FRM averaged 5.68 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website

Posted On Friday, 22 March 2024 08:34 Written by
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The world population today is a little less than 8 billion people, and this number will only increase in the coming years — A definite Hard Trend future certainty. It is estimated by industry experts that by the year 2050, the population will reach around 9.7 billion people. Along with this increase in population comes an increased demand for basic human necessities, such as food, clean water, clothing, and shelter. And connected to all these basic human necessities is the need for more energy and energy storage solutions. What do we need to produce more food? Energy to run farm equipment. What do we need to supply clean water? Energy to run a water treatment plant. What does producing more clothing require? You guessed it — Additional manufacturing plants that again require energy.

Population and the need for energy go hand in hand, and like all trends, this presents an interesting challenge to organizations as it leads to both fully predictable problems and bountiful business opportunities. We must utilize an Anticipatory Mindset to look at both sides of the coin. This additional energy requirement will be a major disruptor to many industries as well as individual lives, but looking to address tomorrow’s predictable problems today can shape a better future for us all!

The Issue with Our Current Energy Sources

The current discussion on energy addresses both the quantity and quality of the sources we rely on. Traditional fuels such as coal, oil, and natural gas, which have been the bedrock of industrial development, are limited in supply. 

Moreover, the combustion of fossil fuels for energy is linked to the release of carbon dioxide and other greenhouse gases. This has led to a growing consensus on the need for alternative energy sources that are both sustainable and less damaging to the environment. Renewable energy technologies, such as solar and wind power, are seen as key to this transition because they harness natural processes that are inherently abundant and generate lower carbon emissions.

But before we all assume batteries are the best technology to replace fossil fuels, it is important to note that even lithium is a finite resource. That means our lithium-ion batteries will eventually need to be replaced by another energy storage solution as batteries are just that — Energy storage solutions, not energy producers. The energy itself still comes from coal and fossil fuels.

While some energy companies have implemented more renewable sources such as wind and solar power to replace using fossil fuels, these solutions as they stand are unreliable. Renewable energy relies on environmental conditions, which are fickle at best. When the wind dies down, blades on wind farms do not turn and electrical production is brought to a halt. When we have a cloudy day, solar panels lose 75 to 90 percent of their generating capability!

The challenge goes beyond simply generating energy; a crucial and more intricate component is the storage of that energy. While some renewable energy sources can be stored, the process of capturing and retaining this energy for later use presents its own set of difficulties.

Not Just More Energy — Better Energy

All that information may put us in a predicament that most may see as being an impasse. However, myself as well as many Anticipatory Leaders of today see opportunity.

We have the issues in front of us that we have time to pre-solve now. How do we not only create additional energy, but better and cleaner energy? Better yet, energy that is reliable and capable of being stored for long periods of time.

If we truly want to reach the goal of net zero emissions, we need to start thinking outside the box by way of exponential thinking. This principle that Anticipatory Leaders practice in looking beyond the traditional uses of a product and applying it in new, innovative ways, even across industries.

It is time that the energy sector becomes positively disrupted by exponential thinking. And believe it or not, this is exactly what companies like Energy Vault are doing with the concept of gravity-based energy generation and storage!

Gravity-based energy generation and storage has been around for years in the form of hydropower — Using fast running water to produce and store energy. Think simple: Think of the Hoover Dam. Running water has powered much of Las Vegas for decades! Now what Energy Vault is doing takes this same concept of gravity-based energy generation and storage to a whole new level.

Instead of using running water, they are experimenting with lifting and lowering blocks of soil and waste materials, using gravity to generate and store energy. This concept is still in its infancy stage, but it has far-reaching implications as a new form of renewable energy with a greater level of storage potential.

Exponential Thinking Makes Way for New Possibilities

Every single industry, including and especially the energy sector, can benefit from thinking exponentially and expanding their horizons to accomplish what we initially feel to be impossible. What Energy Vault is doing will stand to be seen as widely successful; however, they are certainly thinking exponentially to build the foundation for the future.

Remember: If it can be done, it will be done, and if you do not do it, someone else will. And exponential thinking is how we get to that point with creative crossovers that improve industry processes.

Companies like Energy Vault are not only becoming disruptors in their industry but also positive disruptors in the world. In a world where the population and energy usage are growing at unprecedented rates, organizations can stay ahead by adopting a forward-thinking approach that focuses on addressing future challenges now.

Get ahead of the curve with Daniel Burrus’ 25 Top Tech Trends Report for 2024, offering a comprehensive look at the future of technology and its impact on society. Equip yourself with the knowledge to navigate the complexities of tomorrow. Download the report now and embark on a journey to understanding the future today.

Posted On Tuesday, 26 March 2024 00:00 Written by
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