Real Estate News and Auction

Maricopa county evictions set a new record this month and October is expected to be worse.
What is causing this and how bad is it? 79% of the evictions are in the lower income areas where most renters are living paycheck to paycheck.
The majority live in apartments.
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Rick McHone
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http://www.Rickhelps.com

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#airzonarealestate #homesinarizona #Phoenixhomes

Real estate investor and developer Ricky Beliveau got his start by buying a triplex with an FHA loan and house hacking to live for free.

The Labor Department released the closely watched September consumer price index report on Thursday, revealing just how hot inflation ran last month.

What happens if the buyer broker commission lawsuits are successful? As many as 80% of agents could wash out, commission rates could fall and traditional brokerages could struggle, according to a report by KBW. Let's dive in!

/PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, released its Q3 2023 U.S. Foreclosure Market Report, which shows there wer

For the second month in a row, home prices rose on an annual basis in September as the inventory shortfall lingers, a report details.

How YOU Can Fix the Real Estate Market | Tom Ferry Podcast Experience

In this episode, Steve talks about…
00:00 – Introducing Steve Harney
02:23 – The greatest group of realtors
05:45 – What’s going to happen with mortgage rates?
09:40 – Is the market going to crash?
15:18 – Where the fear began
19:00 – How to fix the fear in the market
26:11 – Local market data
28:27 – Fear No. 2
34:55 – Apple store vs. McDonalds

The number of homes for sale on the market fell for the fifth straight month in September amid the already severe housing shortage.

Byron Lazine and Nicole White discuss the terms of the Anywhere and RE/Max settlements, NAR’s reversal on zero-percent buyer agent commission, NAR membership in the next 12–24 months, and what it will mean for businesses that depend on NAR’s chokehold on the industry.

Tell us your thoughts on NAR in this 3-minute survey: https://wss.pollfish.com/link/bd78433b-8053-4afc-bb00-8e92882e6aa5

Join us for tomorrow’s Business Planning webinar (Wednesday, October 11 at 3 pm ET): https://us02web.zoom.us/webinar/register/4516964490807/WN_Fr2WbVsORESwOY4-LUGrZA#/registration

Last week’s pod: https://www.youtube.com/watch?v=tmNv9i05IeY
Episode with Rob Hahn aka “Notorious R.O.B.”: https://www.youtube.com/watch?v=SDI7SZctMUg

Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe
Use discount code REALWORD for 10% off your annual subscription!

Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Nicole White: https://www.instagram.com/nicolewhite.ct/

This episode's sources:
https://nowbam.com/details-from-anywhere-and-re-max-settlements-no-nar-membership-needed/
https://nowbam.com/nar-changes-its-stance-and-allows-listings-with-0-buyer-commission/
https://nowbam.com/redfin-announces-it-is-leaving-nar/

Timestamps:

00:00–00:40 Intro
00:40 Recap of last week’s episode: Redfin & NAR news
02:38 NAR flip-flop—now allowing 0%/$0 buyer agent compensation
03:40 Here’s what NAR is failing at
04:56 The terms of Anywhere--RE/Max settlements
12:58 Byron’s projection on NAR membership over the next 12–24 months
14:01 “NAR has yet to show their value” – Take the survey linked below
15:14 Extreme disruption in businesses tied to NAR
18:13 “Is this an admission of wrongdoing in any way?”
23:31 “It’s really all about transparency.”

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#nationalassociationofrealtors #remax #nar

Inflation finally slows in Arizona after running ahead of national rate for 29 months. Here's a closer look at the numbers.

In this graphic, we take a look at the recent U.S. mortgage rate surge, and how the 30-year fixed-rate mortgage has evolved since 2013.

Eviction filings have spiked by over 50% from pre-pandemic levels in multiple cities.

Foreclosure filings jumped 34% over the past year, according to ATTOM data, attesting to growing financial pain among US homeowners.

0:00 - Preview & Intro
1:18 - Who is bringing these lawsuits against NAR?
4:56 - What is the potential fallout for MLSs?
7:45 - Will this weed out some of the competition in real estate?
11:15 - Will these lawsuits create unfair competition?
14:31 - How will agent compensation change?

r

#thechrisandgarryshow #realestate #narlawsuits

The most up-to-date look at housing prices and market trends.

Redfin only joined the National Association of Realtors in 2017 and now it’s ordering as many of its members to leave as possible for two reasons.

The Magic of Real Estate: Your 5-Year Journey to Wealth

Hey there, friend! Imagine you're planting a seed, okay? You water it, give it sunshine, and watch it grow. That's what your $25,000 down payment is like. It's a seed. But instead of a tree, you're growing your money. ????

The Starting Point

You put down $25,000 on a $500,000 house. That's your seed.

The Growth Spurt

Now, let's say your house grows in value by 10% each year. That's like your tree sprouting new branches every year.

Yearly Breakdown

- Year 1: $500,000 grows by 10% to $550,000

- Year 2: $550,000 grows by 10% to $605,000

- Year 3: $605,000 grows by 10% to $665,500

- Year 4: $665,500 grows by 10% to $732,050

- Year 5: $732,050 grows by 10% to $805,255

The Big Picture

After 5 years, your house is worth $805,255. That's a growth of $305,255!

Your Return on Investment

You started with $25,000, right? Now, let's see how much that seed has grown.

Your ROI (Return on Investment) is the growth of the house ($305,255) divided by your initial down payment ($25,000). So, $305,255 / $25,000 = 12.21 times.

That means your $25,000 has grown 12.21 times in 5 years! ??

In Simple Words

If you had 1 apple and it turned into 12 apples, you'd be pretty happy, right? That's what happened to your money.

Why This Matters

Wouldn't you love to see your money grow like a champion tree? This is why investing in real estate is so cool. Your money works for you, even when you're sleeping.

So, what do you say? Ready to plant more seeds and grow your own money forest?

Assuming 5% appreciation is:

Year-by-Year Growth

- Year 1: $500,000 grows by 5% to $525,000

- Year 2: $525,000 grows by 5% to $551,250

- Year 3: $551,250 grows by 5% to $578,812.50

- Year 4: $578,812.50 grows by 5% to $607,753.13

- Year 5: $607,753.13 grows by 5% to $638,140.78

The average rate on the 30-year fixed mortgage rose to the highest level since 2000 last week, but rates on adjustable-rate mortgages fell. That caused a run on these so-called ARMs, pushing total mortgage application volume very slightly higher, up 0.6% from the previous week, according to the...

A longtime soup kitchen employee put his inheritance money into the purchase of a South Tucson motel that will be converted into affordable housing.

The Mortgage Bankers Association, the National Association of Realtors, and the National Association of Home Builders are urging Fed Chair Jerome Powell to stop raising interest rates.

The multi-billion-dollar real estate industry is being rocked by one of the biggest revolts in its modern history -- multiple agencies have decided to quit the group that’s long set the rules for realtors.

Details of the Anywhere and RE/MAX settlements reveal two more no-confidence vote in the National Association of Realtors (NAR). Anywhere will no longer require any of its brokerages or agents to belong to NAR or adhere to NAR’s Code of Ethics or MLS Handbook.

Home prices show no signs of falling, even though mortgage rates inch towards 8% and buyers pull back. What gives?