Luis Uribe - Realtor

04/29/2024

03/16/2024

Realtor Group Settles Suit

The National Association of Realtors, representing roughly 1.5 million real estate agents, has agreed to pay $418M over the next four years to settle a group of cases nationwide accusing the association of artificially inflating their agents' commissions.


The settlement terms, if approved by a federal court, could alter how Americans buy and sell homes by eliminating a centuries-old commission structure. The standard commission typically ranges between 5% and 6% of the sale price of a home, which a home seller pays to their agent for listing the home on a multiple listing service, known as the MLS. The commission is then split between both the seller's and buyer's agents. But under the settlement, brokerage commissions would be opened up for negotiation with sellers, potentially opening the door for lower fees.


The legal agreement comes after the National Association of Realtors CEO Bob Goldberg resigned in November, following a jury decision finding the association and big residential brokers liable for $1.8B in damages for conspiring to keep home sales commissions artificially high.

01/26/2024

https://www.calhfa.ca.gov/dream/index.htm

First time home buyer program relaunching this April

12/31/2023

https://www.gov.ca.gov/2023/12/29/new-laws-going-into-effect-on-january-1st/

SACRAMENTO – In partnership with the Legislature, Governor Gavin Newsom this year signed landmark legislation to support the reproductive rights of Californians, increase affordable housing…

12/14/2023

Mortgage rates fell under 7% for the first time since mid-August this week. It is the seventh straight week rates have dropped as inflation improves and the Federal Reserve paused its rate increases.

11/09/2023

While the market still hovers at 8% interest rate values are on the high end take this time to work on your credit score.

I helped a coworker with a balance transfer with 0% APR and she couldn't be happier.

When the time is right we'll look at properties.

11/01/2023

The National Association of Realtors and the HomeServices of America have been found guilty of colluding to inflate or maintain high commission rates, and have been ordered to pay damages of $1.78 billion.

10/10/2023

https://www.investopedia.com/30-year-mortgage-rates-spike-to-another-record-high-8349423?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral

Rates on 30-year mortgages jumped two-tenths of a percentage point to set yet another 23-year record high. It's the fourth record peak registered in just over a week.

10/03/2023

Mortgage rates have climbed to 7.31%

09/08/2023

Mortgage rate drops to 7.12%

Still high.

09/07/2023