Why buyers and sellers aren't ready to trade agents for tech
There's a recurring fear in the industry that consumers will eventually move away from working with real estate agents and turn to technology to buy and sell houses. After all, they now use websites like Expedia to purchase airline tickets and apps like Uber when they need a ride - making travel agents and cab drivers a dying breed. Could the same thing happen in real estate?
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Homebuyers and sellers say agents' cuts are too big. Flat-fee brokers offer an alternative
For a long time, buying and selling a home in the U.S. generally went like this: The seller would pay a commission that would be split by the buyer's and seller's agents, often totaling 5% to 6% of the sales price. The predictability of that structure came at a cost: big fees to the agents on every transaction. At a time of high home prices, agent fees can add up to tens of thousands of dollars on just one sale.
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US Housing Market Already Being Hit By Trump Tariffs
Trump's tariffs included a 10 percent baseline levy on most U.S. trading partners and rates up to 50 percent on some nations. Exemptions for Canadian lumber and Mexican gypsum helped buffer immediate price hikes, but the NAHB estimates that tariffs have still added about $9,200 to the cost of building an average new home. Building material prices were already on the rise before the tariffs, and are now up 34 percent since December 2020.
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Average rate on a US 30-year mortgage rises to 6.86%, its highest level since mid-February
The average rate on a 30-year mortgage in the U.S. climbed this week to its highest level since mid-February, a setback for home shoppers that threatens to slow sales further this spring homebuying season. The rate increased to 6.86% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.94%.
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Title Fraud Sam Causes Loss of a Generational Prop
Alba Martinez wasn't supposed to be transferring a property deed, but was caught on camera at the Harris County Clerk's Office trying to do just that. A clerk turned her away, though, and for good reason. A judge recently signed a restraining order blocking Alba and her husband, Jarin, from any deed transfers, reported Houston's KPRC 2 News.
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