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Will the FED Drop Rates?! Are Secret Listings coming back?
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This week, we’re diving into the hottest headlines rocking the real estate world! Support for NAR’s Clear Cooperation Policy is plummeting as the pressure around pocket listings intensifies. Mauricio Umansky is even threatening to sue NAR over these growing concerns, signaling a major showdown in the industry. Meanwhile, the "Portal Wars" are heating up, with $1 billion in advertising driving massive competition among real estate portals—what does this mean for buyers, sellers, and agents?
We also explore shocking allegations in a former NAR employee’s amended complaint, which details claims of discrimination and sexual harassment within the organization. And in a surprising turn of events, the owner of the infamous 'Billionaire Bunker' mansion is suing their realtor for not disclosing that Jeff Bezos was the buyer—what legal ramifications could this hold?
Plus, we take a look at the latest real estate scams, including "The Wolf of West Virginia"—a TikTok scam targeting unsuspecting buyers. On the tech side, Zillow is stepping up with an AI-powered home search that could render traditional filters obsolete. How will this change the way we shop for homes?
In economic news, the Fed is poised for its first rate cut in years after a hotter-than-expected CPI report. However, is it too soon to refinance your mortgage? Mortgage rates are falling, making housing payments more affordable than they were a year ago despite higher home prices. We’ll also cover the falling demand for second-home mortgages, which has hit an eight-year low, and what that signals for the luxury market.
U.S. home prices rose by 0.5% in August, the largest increase in four months, while home listings are surging by over 60% in some cities. But despite builder sentiment improving as rates fall, affordability challenges persist, with existing home and pending sales at their lowest levels since the pandemic. What does all this mean for the future of the market?
Tune in for all this and more as we break down the biggest real estate stories of the week. Subscribe, hit the bell for notifications, and join us live on Clubhouse!
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