New real estate commission rules haven't made it much cheaper to buy or sell a home
It was hailed as an "earthquake" for how homes would be bought and sold in America, and a shift that would unleash "total confusion" in the real estate industry. But as the first spring homebuying season since new Realtor commission rules went into effect approaches, business is pretty much as usual.
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Mortgage rates are finally sinking - and fast
The fall in home borrowing costs comes as the bond market flashes signals that the US economy may be deteriorating more than expected, after new data suggested that the US labor market was much weaker than previously thought. "In anticipation that the Federal Reserve will cut interest rates aggressively in the coming months to support the economy, investors have driven mortgage rates lower," said Zillow senior economist Kara Ng.
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AI Technology Identifies $27 Billion Risk in Real Estate Appraisals Through Condition and Quality Analysis
Restb.ai, a leader in computer vision and artificial intelligence for real estate, has released findings from its Condition/Quality report that reveal significant risks in property valuation processes. The analysis shows that more than 33% of appraisals contain a high risk of either unwarranted condition or quality adjustments or omitted adjustments that property photos indicate are necessary for at least one comparable property.
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Title Insurance Could Finally Make Real Estate Adopt Biometrics
Biometric technology has tried to break into property before, mostly through building access and tenant systems, but pushback around privacy and legal liability stalled adoption. What makes this effort different is the scale of the players involved. FNF underwrites nearly a third of U.S. title insurance policies, and CLEAR already has more than 30 million enrolled users with technology vetted for compliance at airports and other federal checkpoints.
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Federal Anti-Money-Laundering Rule Cracks Down on All-Cash Home Purchases-Here's Who Will Be Affected
The federal regulation, formally known as the "Anti-Money Laundering Regulations for Residential Real Estate Transfers," requires mandatory reporting of all-cash residential real estate transactions involving trusts, estates, limited liability companies (LLCs), corporations, and partnerships to the Financial Crimes Enforcement Network (FinCEN).
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