Tue.May 10, 2022

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Will Home Prices Fall This Year? Here’s What Experts Say.

Keeping Current Matters

Many people are wondering: will home prices fall this year?

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The current challenges to increasing the homeownership gap

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. Bringing together some of the top economists and researchers in housing, this event will provide an in-depth look at their latest insights on the housing market, along with a roundtable discussion on how this information applies to your business.

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Meet The Real Estate Tech Entrepreneur: Jay Reno from Feather

GeekEstate

This week, we interviewed Jay Reno from Feather. Let’s get to it! Who are you and what do you do? I’m the founder and CEO of Feather, a company that is redefining furniture rental for the modern generation. In 2017, I launched Feather as an accessible, design-forward and quality alternative to the growing problem of fast furniture. As someone who moved nine times in ten years, I saw the need to provide greater freedom and flexibility to a new generation of renters who are moving frequently

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loanDepot reports loss of $91.3M in Q1

Housing Wire

Nonbank heavyweight loanDepot reported an unprofitable quarter largely due to a steep decline in origination volume and expense reductions that did not keep up with the rapidly changing environment. The firm said it doesn’t expect to have a profitable fiscal year, citing pressures on margins and lower market volume. . The California-based company reported a net loss of $91.3 million in the first quarter, compared to a net income of $14.7 million from the previous quarter.

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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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Britney Spears’ House is a $7.4M Palatial Estate Fit for the Princess of Pop

Fancy Pants Homes

Britney Spears’ name might be etched into our collective memory as the Princess of Pop that ruled the late 90s and early 2000s with hits like Baby One More Time , Oops!… I Did it Again , and Toxic. But due to her decades-long struggles with an overbearing conservatorship and tabloid bullying , the iconic singer’s legacy has grown into a telling tale on the pitfalls of stardom.

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More Trending

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Banks Report Weaker Demand for Home Loans

Eye on Housing

In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans. “Significant” net shares of banks reported weaker demand for all RRE loan categories other than subprime.

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United Wholesale Mortgage Q1 profits up 89% despite lower production

Housing Wire

The nation’s largest wholesale lender, United Wholesale Mortgage (UWM), in the first quarter of 2022 posted an increase in margins and profits over the prior quarter, increasing its purchase volumes to record levels. But the Pontiac, Michigan-based lender’s total loan production fell during the same period, reflecting a shrinking mortgage market. .

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Mortgage and refinance rates today, May 10, 2022

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates fell appreciably yesterday. They’d started the day rising but switched directions later in the day. This morning, it’s looking as if mortgage […].

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Risk of mortgage fraud is on the rise in the current market

Housing Wire

Eric Hill, an Atlanta real estate agent representing a nationwide homebuilder, had a plan to help more than 100 homebuyers get mortgages. The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south. In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA).

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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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How to refinance a second mortgage: HEL, HELOC, or piggyback

The Mortgage Report

Learn how to refinance a second mortgage, including options to refinance a home equity loan, HELOC, or piggyback loan.

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Despite rising rates, Rocket delivers $1B profit in Q1

Housing Wire

Detroit-based Rocket Companies , the parent of Rocket Mortgage , generated a whopping $1 billion profit in the first quarter, up from $865 million the previous quarter. Compared to its main competitors, the lender seems to be in a comfortable place. United Wholesale Mortgage (UWM) reported a much lower profit of $453.2 million from January to March, buoyed by adjustments in the fair value of mortgage servicing rights (MSRs).

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Gowanus Canal Cleanup ‘Inadequate’ Until City Finishes Delayed Retention Tanks, EPA Warns

Brownstoner

A federal official has said that current and future residents of Gowanus should know that the ongoing cleanup of the Gowanus Canal is “inadequate,” and will remain that way until the city finishes construction on two behind-schedule sewage retention tanks. “[We should be] getting the message out to people to know… Read More > The post Gowanus Canal Cleanup ‘Inadequate’ Until City Finishes Delayed Retention Tanks, EPA Warns appeared first on Brownstoner.

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MSR offerings selling like hotcakes so far in Q2

Housing Wire

The mortgage-servicing rights (MSR) market went on a tear at the start of 2022, and that hot streak has continued into the second quarter as interest rates on 30-year fixed mortgages continue to rise — now up 2 percentage points since the start of the year and still seemingly upward bound. As rates rise, MSR prepayment speeds drop — a byproduct of diminished refinancing activity.

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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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SkySlope Launches Breeze to Make Sellers’ Disclosures Fast and Effortless

RIS Media

SkySlope, a real estate transaction software company, has launched Breeze, a streamlined application that aims to make disclosure forms easy for agents and sellers to complete, the company states. According to a release, SkySlope’s core product, SkySlope Suite, enables brokers, agents, auditors, and transaction coordinators to track their deals while remaining compliant.

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Now more than ever in the mortgage industry, it’s critical to know your KPIs

Housing Wire

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances. Fannie Mae forecasted in early March that mortgage rates would approximate between 3.7% and 3.9% this year, but by April 7, the national average for a 30-year mortgage had already reached 4.72%.

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Daily Links: Mayor Backs Arrest of Longtime Broadway Junction Mango Vendor

Brownstoner

In the News New York’s Dancehall Parties Are 'A Different Type of Turn Up’ [NYT]. MTA Orders Bus Drivers Not to Open Back Doors to Combat Fare Evasion [NYP]. Mayor Adams Defends NYPD Arrest of Brooklyn Subway Vendor [amNY]. Bed Stuy Artist Is Devising Her Own Apartment With Her Dog, Mort… Read More > The post Daily Links: Mayor Backs Arrest of Longtime Broadway Junction Mango Vendor appeared first on Brownstoner.

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Doma lays off 15% of work force as Q1 revenue declines

Housing Wire

Despite a 40% year-over-year increase in market share to 1.4% during the first quarter of 2022, Doma Holdings was unable to produce a net profit. During the first quarter of 2022 , Doma recorded a GAAP net loss of $50.026 million, compared to a net loss of $11.8 million a year prior. In addition, the title insurer’s revenue was down 12% year over year from $127.8 million in Q1 2021 to $112.2 million in Q1 2022.

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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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It’s Just a Matter of Time

RIS Media

Join me in a quick thought experiment: You only have 30 days to get your business ready for the next year. You’ve got 30 days, and then you’re not allowed to do anything to develop your business again until a year from now. Obviously, the idea of taking 11 months off from developing your business is a little absurd. We’re in it every day, always seeking to find that thing to take us to the next level.

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Redfin vs Zillow: Company Profiles and How They Compare

HomeLight

Disclaimer: Company program details can frequently change. HomeLight always advises that you check a company’s website for the most up-to-date information. Whether you want to buy or sell a home, you’ll find a wealth of helpful information online. At some point in your journey, you may be curious to learn more about the difference between Redfin vs.

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Ask Brian: How Do We Sell a House That Needs Updating?

Realty Biz

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com. Question from Betty in WV: Hi Brian, We are in our early 70s and have lived in our home for over 20 years. We are retired and need a one-floor house, hopefully in a warmer state.

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Grow and Scale Your Teams with Effective Sales Meetings

RIS Media

Your team needs direction, coaching, communication, focus, accountability and culture. Your best vehicle for providing all of these at the same time is your sales meeting. Your sales meetings can drive more listings, sales and ultimately income each week, and offers the best setting to provide your team with the necessary and relevant sales skills training and coaching and assist them in learning how to use your brand’s marketing and technology tools to create more clients and appointments.

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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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AREAA’S 2022 State of Asia America reveals AAPIs continue to have Large Coastal Presence

Realty Biz

The Asian Real Estate Association of America , a national nonprofit trade organization focused on improving the homeownership rates of the Asian American Pacific Islander (AAPI) community, today released its 2022 State of Asia America report , a comprehensive review of the housing trends and associated issues facing the AAPI community. In addition to providing detailed data outlining homeownership related statistics and indicators, this year’s State of Asia report provides insights into the diff

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U.S. Mortgage Delinquencies Continue to Fall in February

RIS Media

For the month of February, 3.2% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.5 percentage-point decrease compared to February 2021, when it was 5.7%, according to CoreLogic’s latest Loan Performance Insights Report. To gain a complete view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency.

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Park Slope Tudor-Style Kinko Duplex Condo With Fireplaces, Secret Door, Terrace Asks $3.6 Million

Brownstoner

Anyone familiar with Brooklyn's Kinko houses may well be intrigued by the possibility to own a unit in one that's turned condo. The early 20th century genre comprises two duplexes, each laid out like a house with its own private entrance, and this one is no exception. It's located on… Read More > The post Park Slope Tudor-Style Kinko Duplex Condo With Fireplaces, Secret Door, Terrace Asks $3.6 Million appeared first on Brownstoner.

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Meet the Newsmakers: Teeming With Team Presence

RIS Media

Representative of the increasing presence of powerful agent teams on the real estate landscape, RISMedia’s 2022 Real Estate Newsmakers list includes many stand-out teams among its ranks. ACHIEVERS. Jon Lahey. The Fine Living Group at eXp. Reaching ICON Agent status less than six months after joining eXp, Lahey and his team expanded their reach across the United States.

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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.