Eye on Housing
MAY 4, 2023
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 40% (compared.
Housing Wire
MAY 4, 2023
A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. All major housing market metrics point to a restrained housing market.
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Real Estate News
MAY 4, 2023
CRMLS partners with Local Logic; Listing Media Services expands; Restb.ai and SentriLock each add 2 partners; news from CubiCasa, TrustFunds and Reliance.
Housing Wire
MAY 4, 2023
Elevated mortgage rates hurt Rocket Companies , the parent of Rocket Mortgage , again in the first quarter of 2023. Rocket has been cutting expenses and targeting purchase business, but the firm was unable to achieve profitability in Q1 in a shrinking mortgage market. The Detroit-headquartered lender sustained a $111 million adjusted net income loss in the first quarter, following a $197 million loss in the fourth quarter.
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Real Estate News
MAY 4, 2023
The leading iBuyer lost $101 million in Q1, but that's a significant improvement over the previous quarter, and they are now "looking for stabilization.
Housing Wire
MAY 4, 2023
“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. The purchase market is locked up with a lack of inventory thanks to elevated rates and homeowners already having secured low mortgage rates during the pandemic years.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
MAY 4, 2023
The National Association of Home Builders (NAHB) announced on Thursday that it has appointed James W. Tobin III as its new president and CEO. Following an extensive search, the NAHB Board of Directors ratified the selection of the CEO Executive Search Committee on May 3, appointing Tobin to lead the 140,000-member association. Tobin will assume the role of president and CEO on June 1, according to a press release about the appointment.
Real Estate News
MAY 4, 2023
Redfin CEO Glenn Kelman says the company is ‘leaner, hungrier’ and ready for when the real estate market rebounds.
Housing Wire
MAY 4, 2023
The slower housing market at the start of the year was not enough to prevent Fidelity National Financial from turning a profit. During the first quarter of 2023, the Big Four title insurer reported revenue of $2.474 billion, down from $3.167 billion in Q1 2022, and a net income of $59 million compared to $400 million a year prior. Fidelity’s title segment reported revenue of $1.6 billion for the quarter, down from $2.4 billion a year ago, and a net income of $128 million, a decline compared to
Keeping Current Matters
MAY 4, 2023
Downsizing has long been a popular option when homeowners reach retirement age.
Advertiser: Trellis
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.
Housing Wire
MAY 4, 2023
Pontiac, Michigan-based United Wholesale Mortgage (UWM) announced on Wednesday that its brokers can request a dedicated loan coordinator, adding a level of loan processing support when needed. In addition, UWM announced brokers can also connect their loan origination platform to the lender’s system. When they order the service known as “PA+,” loan officers, processors, and their borrowers will have access to a loan coordinator to help receive, scrub, order and send docs.
Inman
MAY 4, 2023
Redfin's Q1 revenue declined 45 percent year over year to $325.7 million, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday.
Housing Wire
MAY 4, 2023
Investors haven’t exactly treated publicly traded mortgage companies very kindly over the past 12 months. To that end, Rithm Capital , the real estate investment trust that operates NewRez , Caliber and several other businesses , is considering spinning off the mortgage division to aid its flagging stock, which company executives described as “extremely undervalued.” “Our third-party fund business continues to be a major focus as we transition to growing our business as a
Inman
MAY 4, 2023
Founded in 1973, RE/MAX is one of the most recognized real estate brands in the world. RE/MAX® is the most productive real estate network in the world, as measured by residential transaction sides and, with a presence in over 110 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand.
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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.
Housing Wire
MAY 4, 2023
California mortgage tech firm Blend Labs is at risk of getting delisted from the New York Stock Exchange (NYSE) as a consequence of the company’s stock price slumping below $1 for more than a month. Blend announced on Thursday that it received notice on April 28 from the NYSE that it was not in compliance with the stock exchange’s bylaws, which state that a company could be de-listed if its common stock traded below $1.00 for more than 30 trading days.
Inman
MAY 4, 2023
Total revenue dropped 6.2 percent year over year and U.S. agent count fell 5.4 percent, according to earnings data released Thursday as the real estate brokerage continues to wrestle with a shifting market.
Housing Wire
MAY 4, 2023
Toronto-based TD Bank Group and Memphis, Tenn.-based First Horizon Corporation , one of the country’s largest warehouse lenders, have agreed to terminate an acquisition deal, according to a joint announcement issued Thursday. The deal, first announced in early 2022 and valued at $13.4 billion, would have led to TD Bank acquiring First Horizon, facilitating TD Bank’s broader entry into the U.S. market.
Inman
MAY 4, 2023
Described as "one to watch" by Douglas Elliman Executive Chairman Howard Lorber, Middleton will operate out of Douglas Elliman's flagship office in Manhattan, Inman has learned exclusively.
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.
Housing Wire
MAY 4, 2023
The 2023 HousingWire Annual agenda is here. After listening to pitches from our community, discussing with our welcome committee and fine-tuning with our HousingWire team, we feel confident that we’re delivering an agenda that addresses the topics you need to start off 2024 as a leading housing professional. A few distinct focus areas we are continuing to offer this year include access to content, community and commerce.
Inman
MAY 4, 2023
Watch the latest Inman Access classes to better understand how to build a strong, authentic brand, and learn the key tactics real estate professionals can implement to leverage free press.
RIS Media
MAY 4, 2023
Deja vu has hit the nation as yet another Federal Reserve meeting yields further interest rate hikes after a major bank collapse over the weekend. Fed officials announced that they would raise interest rates by another quarter percent, pushing the federal funds rate between 5% and 5.25%—a 16-year high. The move marks the 10th consecutive… The post Fed Increases Rates Again, but Signals Possible Pause Amid Banking Turmoil appeared first on RISMedia.
Inman
MAY 4, 2023
Despite reporting its highest-ever first-quarter revenue, Vrbo parent Expedia Group reported losing $145 million in the first three months of the year, according to an earnings call on Thursday afternoon.
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.
RIS Media
MAY 4, 2023
Zillow has announced the launch of their new Zillow ChatGPT plugin, which gives users a new way to discover real estate listings. According to a release, users who enable the plugin can use conversational language to ask about specific property listings or share the types of for-sale and rental homes they are interested in, including… The post Zillow Announces ChatGPT Plugin for Real Estate Searches appeared first on RISMedia.
Inman
MAY 4, 2023
The iBuying giant saw revenue dip 39 percent year over year at the beginning of 2023, according to a Q1 earnings call Thursday. It also sold and bought fewer homes compared to the beginning of 2022.
RIS Media
MAY 4, 2023
The Institute’s Luxury Market Report is your guide to analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States. The report for April reviews the current statistics for the luxury market in North America month-over-month, as well as the 13-month trend. This month, we aim to discover whether… The post The Institute: April Luxury Market Report appeared first on RISMedia.
Inman
MAY 4, 2023
Find out why this high-flying Beverly Hills real estate broker is in the spotlight and learn what he predicts for the rest of 2023.
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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.
RIS Media
MAY 4, 2023
A majority (63%) of agents and brokers said promoting energy efficiency in listings is very or somewhat valuable, according to a new report from the National Association of REALTORS®. The 2023 REALTORS®and Sustainability Report – Residential examines sustainability issues facing the real estate industry. “While each area of the country has a unique climate and… The post Majority of Agents, Brokers Find Value in Promoting Energy-Efficient Listings, NAR Finds appeared first on RISMedia.
Inman
MAY 4, 2023
An Inman analysis of NAR data on residential sustainability over the past seven years reveals that fewer agents and brokers believe touting energy efficiency in listings elicits meaningful results.
RIS Media
MAY 4, 2023
California Regional Multiple Listing Service (CRMLS) has announced an agreement with Local Logic, a location intelligence provider that quantifies location at scale. Through this arrangement, Local Logic will provide all current CRMLS users with powerful localized data insights such as demographics, location scores, local neighborhood profiles, points of interest, and school data.
Inman
MAY 4, 2023
The share of homes that were worth at least 50 percent more than their mortgage fell for the second straight quarter. Still, there are few homes facing foreclosure, according to the latest report from Attom.
Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty
The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.
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