Real Estate News and Auction

Brokers are on the side of the deal.

#airzonarealestate #homesinarizona #Phoenixhomes

If you have several hundred thousand dollars in cash sitting around and available to buy a house, it turns out, you’re not alone.New data from real estate data firm ATTOM Data Solutions shows nearly 37% of single family home and condo sales nationwide last quarter were all-cash purchases. Here in Arizona, Axios reports that was about 38%.

Welcome to the Real Estate Rundown! 2023 hasn't been easy on the housing market & 2024 doesn't look like it will be any better. Goldman Sachs says that next year new builds will go down to levels that haven't been seen since the 1990's. We also hear an update on the case of The Breakfast Club host DJ Envy and his relationship with a former business partner Cesar Pina. Cesar has been accused of stealing money from investors from his house-

The housing market continues to challenge homebuyers as U.S. existing home sales dropped to a 13-year-low in September, falling about two percent from August to 3.96 million units. Yahoo Finance’s Seana Smith and Brad Smith break down the data and discuss some of the headwinds homebuyers are facing in the housing market. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

#airzonarealestate #homesinarizona #Phoenixhomes

Inventory is low, but so is competition. It could be awhile before rates drop, and when they do, expect surging demand to keep prices high.

On Day 4 of the Sitzer/Burnett trial, an expert witness for the plaintiffs said the current commissions system is a "clear case" of collusion and price fixing.

A landmark antitrust trial began with a focus on how the nation’s largest brokerages train agents to charge commissions.

FRIDAY, OCTOBER 27 — DAY TEN

5:06 a.m. CDT: Good morning from Kansas City, where the defendants in the Sitzer | Burnett commission trial are expected to rest their case this afternoon.

Closing arguments will likely begin Monday and last about two hours. Later, the jury will receive instructions and begin deliberations. —Jotham Sederstrom

NAR antitrust lawsuits got you rattled about what that means to your business, bottom line, and ability to earn commissions? Then don’t miss this upcoming session where you will discover a revolutionary approach to real estate commissions.

Homebuying is a stressful, frustrating process that many buyers don't even fully understand. But new tech companies are trying to revolutionize it.

Commissions Going To ZERO For Real Estate Agents | Sitzer/Burnett Trial Week 2

“As rents ease and both home prices and mortgage rates continue to climb, it’s become more economical to rent than to buy in nearly all major markets,” Realtor.com’s chief economist said.

An antitrust lawsuit challenges anticompetitive rules that inflate fees and drive up housing costs.

The number of homeowners hit with foreclosure notices in the third quarter of the year jumped 34% from a year ago to nearly 125,000, per an ATTOM report.

Are we on the brink of a "housing recession" as existing home sales plummet to 2010 levels? Zillow is doubling down on its prediction on home prices.

Homeownership has long been a staple of the American dream, but it is becoming increasingly out of reach for many people, especially younger generations. In Arizona, the median home price is now over $500,000, and mortgage rates are rising. This is making it difficult for many Arizona first time home buyers to afford a home.  […]

Thursday and Friday we heard from more plaintiffs and the lawyers get frustrated with each other.

Let me know what you think about the case so far.

If you need to catch up:
Day 1: https://youtu.be/JJvvpHtg71Q
Day 2: https://youtu.be/-ZZEtFSTZcs
Day 3: https://youtu.be/HNU24qeeCQs

Also, hit me on IG: rickycarruth

As powerful lobbies go, few have more clout than the real estate agents'. But the cartel faces a major legal challenge on Monday when a federal jury trial begins in a class action against its rules that raise the cost of buying and selling homes (Burnett v. National Association of Realtors).