Wed.Jun 09, 2021

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Mortgage applications are thinning as summer approaches

Housing Wire

For the third week in a row, mortgage applications decreased. Mortgage applications fell 3.1% in the week ending June 4, and refis took the biggest dip, according to the latest report from the Mortgage Bankers Association. “Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 percent,” said Joel Kan, the MBA’s vice president of economic and industry forecasting.

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Home Price Appreciation Is as Simple as Supply and Demand

Keeping Current Matters

Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

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IMBs have a duty to serve lower-income communities

Housing Wire

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. In discussing whether more financial institutions should have a duty to serve the capital and credit needs of lower-income communities — an obligation akin to that of banks under the Community Reinvestment Act (CRA) — he said that generally “ like activities should have like

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New Book Dives Into Canadian Real Estate, Gangs, Laundering, and Corrupt Officials

Better Dwelling

The most important book on Canadian real estate you’ll read this year isn’t about demographics or interest rates. It’s investigative journalist Sam Cooper’s new book, Wilful Blindness: How A Network of Narcos, Tycoons and CCP Agents Infiltrated The West. The controversial best-seller outlines how business tycoons and China set out for a power grab 40 […].

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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How to reduce appraisal turn times and improve the borrower experience

Housing Wire

As the appraisal industry struggles to meet demand, Voxtur has developed a solution to streamline the process. HousingWire recently spoke with Jim Albeertelli, CEO of Voxtur, about the company’s r ecent acquisition and launch of an automated workflow management platform for the global market. HousingWire: What can the industry at large do to support the work of appraisers right now?

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TIAA Bank to sell its correspondent biz to PenFed

Housing Wire

TIAA Bank is selling its correspondent lending platform to Pentagon Federal Credit Union for an undisclosed amount of money. The deal represents the latest mortgage space exit for the Jacksonville-based financial firm. TIAA Bank has laid off more than 200 workers over the past six months as it pivots away from mortgage servicing. In 2019, the lender announced that it would leave the retail channel, barely three years after it acquired EverBank for $2.5 billion in cash.

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Now we have a paint shortage to deal with too

Realty Biz

Paint is getting harder to come by, and that’s likely to have an impact of people aiming to do summer home improvement projects. It’s also delaying the construction of new homes, as builders are forced to wait for supplies of more paint. The paint shortage is primarily due to the COVID-19 restrictions that have led to major disruptions of supply chains in various different industries, experts say.

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How To Boost Local SEO For Real Estate Agents [Ultimate Guide]

Jason Fox

How To Boost Local SEO For Real Estate Agents [Ultimate Guide]. WHAT IS LOCAL SEO FOR REAL ESTATE AGENTS? If you are a real estate agent there is no doubt that you have been successful at, invested in or thought about building your online web presence and your local SEO search results. (MOZ Local SEO Ranking Factors Survey) The idea of having people.

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How Inflation Can Affect Mortgage Rates

Realty Biz

Maybe everything is returning to normal, or maybe we are still defining a new normal. What is certain is that the economy is changing. One area to keep a close eye on is whether the current surge of inflation will also bring a surge in mortgage interest rates. There is a very good reason to watch this metric because the rate of inflation traditionally remains below the rate for a 30-year mortgage.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Helping Homebuyers Navigate High Prices and Low Inventory

RIS Media

Most markets are currently experiencing extreme inflation and home price appreciation. Depending on where you live, your market may be increasingly challenging for homebuyers due to low housing inventory and high demand. Buyers tell stories of bidding wars, making offers on 50 homes and still not “winning the bid” against competing offers. Buyer’s agents resort to tactics like songs and flower deliveries to make themselves more memorable and attractive to home sellers.

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Mayor Pledges BQE Cantilever Repair While Full Fix Is Delayed

Brownstoner

Mayor Bill de Blasio said he will unveil a plan to fix the crumbling Brooklyn-Queens Expressway’s triple cantilever on the Brooklyn waterfront in the coming weeks, but added that a larger long-term transformation of the beleaguered highway corridor will be up to his successor. “Job one is to protect the triple… Read More > The post Mayor Pledges BQE Cantilever Repair While Full Fix Is Delayed appeared first on Brownstoner.

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Mortgage and refinance rates today, June 9, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates nudged lower yesterday, as expected. It was in line with the small daily variations we’ve grown used to recently. First thing, there […].

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The Best Ways To Improve Your Laundry Room Based on How Much Time You Have

Realtor.com

Getty Images People generally spend way more time than they’d like doing laundry. Between the sorting, washing, transferring to the dryer, then folding or ironing, it adds up and can feel like a never-ending chore. It’s no surprise, then, that home buyers want a nice place to spend all that time. According to a survey conducted by the National Association of Home Buyers in 2019, 91% of first-time home buyers wanted a room or area clearly devoted to laundry activities.

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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High price growth makes Austin the nation’s hottest housing market

Realty Biz

Austin remains the hottest housing market in the nation, with the vast majority of its homes selling way above their list price, new data published by Redfin shows. All told, 74% of homes in Austin during April sold for above list price, the study found. Moreover, the metro area saw the fastest price growth in all of the U.S. during that month. The housing market in Austin has been red-hot since the start of the year as technology workers flock to the area, Redfin said.

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Frenzy Monitor

BubbleInfo

Here’s our two-week check on how the actives and pendings are faring. The Big Three areas (Carmel Valley, Encinitas, and SE Carlsbad) remain blistering hot, and overall we are similar to how Ryan described the Sacramento market yesterday: “We were driving 135 MPH, and now we’re down to 127 MPH” NSDCC Actives and Pendings Town […].

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Traveling This Summer? TSA’s Screening Tips Can Help You Zip Through Packed Airports

RIS Media

(TNS)—More people are starting to travel again—and airports are packed because of that. The Transportation Security Administration (TSA) expects to see a massive surge in the number of people traveling this summer as coronavirus pandemic restrictions ease and cases continue to go down. At the Seattle-Tacoma International Airport in April, security lines stretched all the way into the garage.

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Engel & Völkers Yachting Americas Expands into Florida

Realty Biz

Engel & Völkers today announced the launch of its third yachting shop in the Americas, located in Naples, FL and led by license partner Paul Benson, along with Walter Johnson and Leeann Iacino the shops’ president and chief operating officer respectively. Benson, Johnson and Iacino launched Engel & Völkers’ first yachting shop in the Americas in January 2020 in Newport Beach, followed by an expansion into Sausalito shortly thereafter.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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When Will The Housing Shortage Be Over? Answer: Several Years

First Team Real Estate

If you’re ready to buy a new home and struggling to find something you like, chances are you’re wondering, “When will the housing shortage be over?” – and you’re not alone. It’s not just a California housing shortage, the entire country is experiencing extremely low inventory on the real estate market. The housing market has turned into a feeding frenzy of home buyers fighting over an extremely limited number of homes for sale and a lot of house hunters are wo

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Picnic Lunch at The Flagler Museum This Summer

Waterfront Properties

The iconic Henry M. Flagler Museum is one of the most well-known estates on Palm Beach Island. The museum was once home to Henry M. Flagler and his wife Mary. Flagler was an American Industrialist and known as one of the island’s founders. The grand estate features more than 100,000 square feet of space that is filled with some of the most about history about the Gilded Age and Palm Beach.

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Brokerages Need to Control Their Destiny

RIS Media

Above: Front lobby of Fathom Realty’s corporate office in Cary, North Carolina. Since going public on the Nasdaq (FTHM) at the end of July 2020, Fathom Holdings has acquired a title company, a mortgage company, an insurance company, a lead generation business, two technology companies and completed a brokerage acquisition. Fathom Realty CEO Josh Harley weighs in on the brokerage’s recent moves.

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Baseball, Food Trucks, and Outdoor Dining This Weekend in Jupiter

Waterfront Properties

Jupiter’s Downtown Abacoa is preparing for a busy upcoming weekend filled with baseball, outdoor dining under the stars, and food trucks. Beginning tomorrow, Thursday, June 10th, the Roger Dean Chevrolet Stadium is hosting three baseball games this weekend in Jupiter. The Roger Dean Chevrolet Stadium is home to two Minor League Baseball Teams, The Palm Beach Cardinals and The Jupiter Hammerheads.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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A 20-Story Montague Street Tower Hits the Midway Mark in Brooklyn Heights

Brownstoner

A residential tower is currently soaring toward its eventual 20 stories near a busy intersection in Brooklyn Heights Located at 200 Montague Street near the corner of Court Street in the Borough Hall Skyscraper Historic District, the building has reached 10 stories. It takes the place of a modern-style four-story bank… Read More > The post A 20-Story Montague Street Tower Hits the Midway Mark in Brooklyn Heights appeared first on Brownstoner.

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How Is The Downtown Rental Market?

Toronto Realty Blog

TorontoRealtyBlog. Here’s an interesting proposition for you… There’s a downtown condominium that has a suspect history, but which now has a clean bill of health. The sale prices in this building have been significantly impacted as a result of the “stigma,” but the rental prices have not. Let’s say that a 420 square foot, 1-bed, 1-bath in this building sells for $440,000 and rents for $1,650.

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Daily Links: Williamsburg, Other Neighborhoods Still Lag Behind on Vaccination Rates

Brownstoner

In the News Retired New York Police Officer Dies After Kensington Shooting [NYT] MTV Bringing Award Show to Barclays Center in September [NYP] Seven of 25 Lowest Vaxxed Zip Codes in State Are in Brooklyn [BP] Bulldog Sculpture Made of Dog Food Headed to Domino Park [TimeOut] Flatbush Counter Opening on Flatbush [Bklyner] Widespread Hunger Persists… Read More > The post Daily Links: Williamsburg, Other Neighborhoods Still Lag Behind on Vaccination Rates appeared first on Brownstoner.

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The Notorious POD Ep 18: Agent Teams, Zillow, Competition with Jeff Sibbach and Phil Sexton

Notorious ROB

In this episode, I speak with Jeff Sibbach and Phil Sexton of the Sibbach Team in Phoenix, AZ. We talk about the realities of today’s real estate, how top agent teams are functioning today, and why he believes Zillow is in fact a competitor. We get into a lot of issues including data, IDX, competition. Read more. The post The Notorious POD Ep 18: Agent Teams, Zillow, Competition with Jeff Sibbach and Phil Sexton appeared first on NotoriousROB.

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.