Multiple listing service

Texas new home seasonal sales struggle as economic headwinds continue

Retrieved on: 
Monday, April 22, 2024
Report, Chocolate liquor, MLS, Multiple listing service, DOM, New home sales, Overalls, Cryptocurrency

1-ranked real estate agent and CEO and founder of HomesUSA.com, points to economic headwinds holding back seasonally strong sales.

Key Points: 
  • 1-ranked real estate agent and CEO and founder of HomesUSA.com, points to economic headwinds holding back seasonally strong sales.
  • “The Texas spring homebuying season is underperforming as the new home sales recovery has been unimpressive,” said Caballero.
  • According to the HomesUSA.com New Home Sales Index’s 3-month average, Days on Market increased in three of the four largest new home sales markets in Texas.
  • ( See Chart 2: Texas New Home Sales )
    The average prices of new homes were stable overall in Texas last month.

Ben Caballero Crushes the World Record for Annual US Home Sales

Retrieved on: 
Tuesday, April 30, 2024
Guinness, MLS, Guinness World Records, United States Air Force, Parent, Software as a service, History, Multiple listing service, Real estate

DALLAS, April 30, 2024 /PRNewswire/ -- Ben Caballero, the No. 1-ranked real estate agent in the US for ten consecutive years by RealTrends and a three-time Guinness World Record title holder, smashed his own world record for both the number of annual home sales and the annual transaction volume last year. According to Multiple Listing Service data, in 2023, Caballero individually sold an unprecedented 7,012 homes totaling $3.638 billion.

Key Points: 
  • 1-ranked real estate agent in the US for ten consecutive years by RealTrends and a three-time Guinness World Record title holder, smashed his own world record for both the number of annual home sales and the annual transaction volume last year.
  • According to Multiple Listing Service data, in 2023, Caballero individually sold an unprecedented 7,012 homes totaling $3.638 billion.
  • Among his other firsts as a real estate agent:
    First individual agent to reach $1 billion or more in annual sales (2015, 2016, 2017, 2021)
    First individual agent to reach $2 billion or more in annual sales (2018, 2019, 2020)
    First individual agent to reach $3 billion or more in annual sales (2022, 2023)
    Ben Caballero became a Guinness World Record holder title for the first time in 2016 with 3,556 verified home sales.
  • He set a new world record in 2018 with 5,801 home sales and again in 2020 with 6,438 home sales and remains the current title holder.

AcreTrader Management Exceeds Target Returns in Vermillion County, Illinois Row Crop Farm Disposition

Retrieved on: 
Wednesday, March 27, 2024
Farmer, Face, COVID-19, Sale, Acquisition, Illinois River, Food, Great, Aggregation, AcreTrader, IRR, Multiple listing service, Soil, Soap bubble

This offering was funded on the AcreTrader platform in December 2022 and was sold in January 2024.

Key Points: 
  • This offering was funded on the AcreTrader platform in December 2022 and was sold in January 2024.
  • This exited offering was not conducted by AcreTrader Financial, LLC, registered broker-dealer, member of FINRA|SIPC.
  • AcreTrader is experienced in deploying its aggregation strategy in Illinois as it manages over four thousand acres of soil across the northern half of Illinois.
  • Just under half of these acres are in northeast Illinois , east of the Illinois River.

Texas new home sales tick higher as spring buying season nears

Retrieved on: 
Wednesday, March 20, 2024
New home sales, DOM, News, MLS, Anomaly, Report, Multiple listing service, Chocolate liquor, Cryptocurrency

The 3-month average of new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio last month combined totaled 5,180 sales versus 5,119 in January.

Key Points: 
  • The 3-month average of new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio last month combined totaled 5,180 sales versus 5,119 in January.
  • "February new home sales are signaling that the spring home buying season is coming,” added Caballero.
  • Pending sales continued to rebound in February, as the average 3-month pending sales were higher in each of the four largest Texas new home markets.
  • ( See Chart 2: Texas New Home Sales )
    The average prices of new homes flattened overall in Texas last month.

Tampa Bay Real Estate Company Eliminates Commission Offerings From Multiple Listing Service As A Result Of NAR's Settlement Agreement

Retrieved on: 
Saturday, March 23, 2024
Real estate, Plaintiff, Tampa Bay area, Fox 9, NAR, Sale, Interview, Local, Estate (law), MLS, National Association of Realtors, Multiple listing service, Estate agent, Multimedia

SPRING HILL, Fla., March 23, 2024 /PRNewswire-PRWeb/ -- The National Association Of Realtors last week announced a bombshell, NAR has agreed on a settlement of a lawsuit regarding real estate commissions to the tune of $418 Million. The Sitzer-Burnett case is a class action lawsuit that was filed in Missouri Federal Court by a group of Home Sellers against NAR and other defendants. On October 31st 2023 with just 3 hours of deliberation the jury in the case delivered a blow to NAR with a surprise verdict that sided with the Plaintiffs. NAR of course was to appeal the case, however just last week announced a settlement agreement with the plaintiffs. In part the settlement agreement will require NAR to pay out $418 Million over the next 4 years, and the Association has agreed to have all commissions removed from MLS as well as abolish cooperation rules that require listing agents to make an offer of compensation to a buyer's agent on MLS. These new rules go into effect Mid July, assuming the Judge signs off the settlement agreement, which has not happened just yet.

Key Points: 

Miami-Dade Total Home Sales Rise for Second Consecutive Month

Retrieved on: 
Thursday, March 21, 2024
REO, Statistics, Partnership, Shock, NAR, Sale, News, MLS, Housing, Condo, Love, Census, CoreLogic, Multiple listing service, Freddie Mac, Property management

MIAMI, March 21, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales rose year-over-year for the second consecutive month as new data shows South Florida leading the U.S. in price appreciation and international migration, according to February 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami Distressed Sales Remain Low, Reflecting Healthy Market
    Only 0.9% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, lower than 0.8% in February 2023.
  • Short sales and REOs accounted for 0.06% and 0.9% year-over-year, respectively, of total Miami sales in February 2024.
  • Nationally, distressed sales represented 3% of sales in February, virtually unchanged from last month and the prior year.
  • Cash sales represented 43.3% of Miami closed sales in February 2024, compared to 43% in February 2023.

Seasonality pushes Texas new home sales lower, “Spring will see a rebound,” Ben Caballero says

Retrieved on: 
Wednesday, February 21, 2024
Anomaly, MLS, Chocolate liquor, Multiple listing service, DOM, Report, New home sales, Cryptocurrency

In January, the 3-month average new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio combined show a of 5,119 sales versus 5,350 sales in December.

Key Points: 
  • In January, the 3-month average new home sales in Dallas-Ft. Worth, Houston, Austin and San Antonio combined show a of 5,119 sales versus 5,350 sales in December.
  • For Texas, the average DOM was up slightly with January at 102.05 days versus 100.26 days in December.
  • The average 3-month new home prices in three of the four largest new home markets in Texas were stable in January.
  • Caballero explained the 3-month moving average indices track market seasonality, while the 12-month moving average removes the seasonality and tracks the longer trend.

Zimmerman Reed Sues Redfin and Realtors Associations for Antitrust Violations

Retrieved on: 
Tuesday, March 5, 2024
National Association, LOS, MLS, Sale, Multiple listing service, Federal court, Reed, Real estate

Due to the MLS conditions set by the National Association of Realtors and the California Association of Realtors, buyer's-side agents are actually paid by the opposite party in a home sale--the buyer. Because buyers therefore do not pay their own agents, the market is deprived of the downward pressure on prices that occurs with true competition; the buyer has no incentive to shop around, and the agents have little incentive to discount their rates. As a result, homeowners pay higher fees for one of their largest transactions of their lives.

Key Points: 
  • Zimmerman Reed has filed a case in Federal Court in the Central District of California against Redfin, National Association of Realtors, and the California Association of Realtors for allegedly conspiring to fix and inflate the price of buyer-side real estate agent commissions to supercompetitive levels.
  • That's why we aim to permanently end this practice for all Californians," said Caleb Marker, Zimmerman Reed Managing Partner.
  • The National Association of Realtors administers MLS through local branches and sets the conditions for using its indispensable MLS tool.
  • The case also alleges that Redfin have agreed to these rules set by the realtor associations and required its Redfin agents to abide by them as well, prior to Redfin's exit from the California and National Associations of Realtors in late 2023.

Miami-Dade County Total Home Sales, Total Dollar Volume Rise

Retrieved on: 
Thursday, February 22, 2024
Total, MLS, Partnership, News, Sale, Multiple listing service, Fed, Human back, Freddie Mac, NAR, REO, Statistics, State, Housing, Property management

MIAMI, Feb. 22, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales and total dollar volume rose year-over-year as South Florida real estate continues to outpace the nation even as mortgage rates return to the 7% range, according to January 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami-Dade total home sales increased 0.9% and total dollar volume jumped 19% year-over-year in January 2024.
  • The statistics would be much stronger if they included South Florida's robust developer new construction market and volume.
  • Miami total new listings increased 21.7% year-over-year in January 2024, from 3,257 to 3,963.
  • Miami total dollar volume totaled $1.3 billion in January 2024.

Privy Secures $4M in Strategic Growth Capital to Scale Real Estate Investing Platform

Retrieved on: 
Thursday, February 15, 2024
MLS, Intelligence, Investment, Conference, Multiple listing service, Software as a service, Automation, Data analysis, Real estate

DENVER, Feb. 15, 2024 /PRNewswire/ -- Privy, a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital.

Key Points: 
  • Following Cypress Growth Capital's Investment, Privy Founder and CEO Scott Fahl to Launch Speaker Series
    DENVER, Feb. 15, 2024 /PRNewswire/ -- Privy , a real estate investment software platform providing curated information to individual investors and real estate agents focused on residential investment opportunities and wealth-building, secured $4 million in non-dilutive growth capital from Cypress Growth Capital .
  • Privy allows real estate investors and agents to find profitable deals with push-button simplicity.
  • They have the experience to help us scale strategically and understand what we mean when we say we want to change the real estate investing game."
  • "Privy has an innovative SaaS solution serving a rapidly growing segment of the real estate investment market," said Cypress Growth Capital Managing Director Vik Thapar.