Fri.Jan 08, 2021

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Closing costs: Here’s how much money you really need to buy a house

Housing Wire

Are you considering purchasing a home for the first time? Then you’re probably already saving money for your down payment. But what about all the other costs needed to complete the transaction? Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs?

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Reasons to Hire a Real Estate Professional [INFOGRAPHIC]

Keeping Current Matters

Some Highlights. Choosing the right real estate professional to work with is one of the most important decisions you can make in your homebuying or selling process. The right agent can explain current market conditions and break down exactly what they mean for you. If you’re considering buying or selling a home this year, make sure to work with someone who has the experience to answer all of your questions about pricing, contracts, negotiations, and more.

Agents 259
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Will there be a housing supply shortage in 2021?

Housing Wire

This is the fifth installment of our economist Q&A series, as we work to answer the top 2021 housing market questions for our HW+ members. Every Tuesday in December, HousingWire interviewed a top economist in the HW+ Slack channel. In each Q&A, we attempt to bring clarity to the top questions around housing supply shortages in 2021, the future of foreclosures and the future generation of homebuyers.

Mortgages 457
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Bring on New Beginnings With These 5 Beautifully Bold Bedroom Design Trends

Realtor.com

The Morson Collection/Houzz A new year is the perfect time for new beginnings, especially when it comes to your home decor. And what better space to refresh than the room where you start each new day? To provide you with inspiration for your decor endeavors, we turned to Instagram ( as we do every week ) and we scrolled through hundreds of bedroom posts, seeking out the cutting-edge looks that racked up the most likes.

Design 131
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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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MISMO to prioritize eMortgages in 2021

Housing Wire

This year, eClosings surged as remote online notarization became more popular and consumers looked for alternative ways to close on a home. Moving forward, the Mortgage Industry Standards Maintenance Organization , a not-for-profit subsidiary of the Mortgage Bankers Association , will continue to focus on digital closings. Over the final months of 2020, MISMO saw the number of companies with its RON certificate double to a total of eight companies.

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Economists see housing as bright spot to unemployment

Housing Wire

Another month of rising COVID-19 cases left the unemployment situation in the U.S. virtually unchanged in December, with the rate holding for the second month at 6.7%, the U.S. Labor Department said on Friday. Due to massive losses in the servicing sector outnumbering professional and construction job gains, the raw number of nonfarm payroll employment fell by 140,000 – the first decline since April of last year.

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How to inform clients about scams that continue to victimize homebuyers

The American Genius for Real Estate

(HOMEOWNERSHIP) Real estate scams continue to victimize people, but Realtors are in a position to better protect homebuyers. Here are some tips. The post How to inform clients about scams that continue to victimize homebuyers appeared first on The American Genius Real Estate.

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2021 means new challenges for mortgage lending

Housing Wire

For many of us, the start of a new year is usually synonymous with a renewed sense of professional self, focusing on new goals, new prospects for the year and, of course, the excitement for the upcoming spring real estate market. As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to.

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10 productivity tips to get the most out of yourself and your team

The American Genius for Real Estate

(EDITORIAL) Keeping up productivity can be a hard goal to shoot for, so sometimes It helps to see what others are doing. Here's our list of 10 ways to stay productive. The post 10 productivity tips to get the most out of yourself and your team appeared first on The American Genius Real Estate.

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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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Homepoint files for IPO

Housing Wire

Correspondent and wholesale lender Homepoint is the latest mortgage company to aim for an IPO. The Ann Arbor, Michigan-based lender filed an S-1 with the Securities and Exchanges Commission on Friday afternoon. The company indicated in the S-1 that its price offering was $100 million, generally a placeholder for a larger offering. The company is expected to go public in the first quarter, sources told HousingWire.

Equity 404
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Toronto and Vancouver Condo Buyers Warned by CMHC Still Getting Slaughtered

Better Dwelling

Canadian real estate markets may be on fire, but don’t let that fool you into thinking everyone’s made money. Canada Mortgage and Housing Corporation (CMHC) warned first-time homebuyers in April to be careful about jumping in. Despite a lot of real estate agents mocking the organization, the agency was mostly right. Typical condo buyers in […].

Mortgages 113
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New year sees 2.74 million loans in forbearance

Housing Wire

After three consecutive weeks of increases , the number of mortgage loans in active forbearance fell by 92,000 the first week of 2021, according to a Friday report from Black Knight. This was a 3% drop and the greatest week-over-week decline since early November, largely driven by quarterly forbearance plans reaching their expiration. Black Knight now estimates 5.2% of all mortgages, and 2.74 million homeowners, are in some form of forbearance – accounting for $547 billion in unpaid principle.

Loans 393
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Americans are disinfecting their homes and converting garage spaces

Realty Biz

The way people design their homes is being influenced by the COVID-19 pandemic which has forced them to spend more time indoors, and those new trends could stay with us for years to come. Examples include garage spaces getting more attention, while cleanliness is also a major factor, according to the America At Home Study that’s based on responses from more than 4,000 Americans.

Design 111
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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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LendWize acquires broker software platform ARIVE

Housing Wire

Months after taking over management of broker LOS platform ARIVE , mortgage software startup LendWize has finalized a deal to take complete ownership of the origination platform. LendWize took over management of the platform in early 2020 and integrated ARIVE’s software into its own technology stack. It launched a revised version of the ARIVE platform in June, featuring electronic lender integrations and improved tools.

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Realtor.com® December Housing Report: Existing Inventory Hits All-Time Low

RIS Media

Inventory has been a struggle for a long time, and the problem has been compounded by the ongoing coronavirus pandemic. According to realtor.com®’s December Housing Report , the number of homes for sale recently reached an all-time low, hitting below 700,000 for the first time after dropping 39.6 percent YoY—that’s 449.000 fewer homes for sale than last December. “The shortage of homes for sale has been an ongoing issue for the last couple of years, but in December the combinat

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The mortgage industry should build ATR rule governance

Housing Wire

It seems simple enough on its face: when a lender makes a home loan, the lender must determine, document, and verify that the prospective borrower has the ability to repay their full loan. Over a decade after passage of the so-called “Ability-to-Repay” (ATR) rule – which required oversight of just this by the Consumer Financial Protection Bureau – many now see that effectively regulating how to determine, document, and verify a borrower’s ability to repay while also not restricting credit availa

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Former Dodgers Outfielder Yasiel Puig Sells Encino, CA, Home for $2.7M

Realtor.com

realtor.com, Joe Robbins/Getty Images The former Los Angeles Dodgers outfielder Yasiel Puig has cut another tie to Southern California. His five-bedroom home in Encino, CA, sold for $2,746,000 in early November. It originally went on the market in February 2020, with a list price of $3.2 million. Puig wound up taking a 14% discount off his initial asking price and basically broke even on the $2.65 million he paid in 2017.

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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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Window Treatments 101: What You Need to Know

Point2Homes

Image: Africa Studio / Shutterstock.com. When it comes to picking new window treatments, you might think you have a choice between blinds or curtains. But there’s actually so much more to the world of window coverings than meets the eye. There are different types of window treatments for different windows and varying light intensities and privacy levels.

Design 105
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Americans Are Losing Confidence in the Housing Market as COVID-19 Pandemic Rages On

Realtor.com

GETTY IMAGES/ISTOCKPHOTO A measure of Americans’ sentiment toward the housing market worsened for the second consecutive month in December, reflecting rising concerns related to the pandemic. The survey was taken before Wednesday’s events in Washington, D.C. when a mob broke into the Capitol building. The Home Purchase Sentiment Index from Fannie Mae dropped six points between November and December, as consumers became far more pessimistic about buying and selling homes, the mortgage giant repo

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Luxury Real Estate Headlines: First Week in January 2021

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Evergreen, Colorado | Whitney Cain & Jennifer Davenport , LIV Sotheby’s International Realty . Reflecting the Biltmore’s jaw-dropping opulence and extravagance, the chateau features a huge central courtyard, a dozen dormered windows, pitched roofs and a multitude of turrets.

Design 104
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Immediate Buyer Demand

BubbleInfo

Our new listing hit the MLS about 5:30pm yesterday. By 9:15pm, I received six requests to show it, and another three requests before 8am this morning! [link] The zestimates and Redfin estimates are really a joke now. If they are willing to derive their number off the list price and try to make you think […].

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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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Mortgage and refinance rates today, January 8, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates just inched higher yesterday. They’ve strayed some way from their all-time low, which was visited again on Monday. But they remain in […].

Mortgages 103
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This Downtown Hudson Italianate Villa Based on an 1850s Pattern Book Can Be Yours for $6 Million

Brownstoner

The unknown builder of this picturesque Italianate villa in Downtown Hudson turned to a popular guide on the architecture of country houses for design inspiration. The sprawling building, which once held the local Elk's Club and in more recent years served as the winter home of the Hudson Farmer's Market, was… Read More > The post This Downtown Hudson Italianate Villa Based on an 1850s Pattern Book Can Be Yours for $6 Million appeared first on Brownstoner.

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Prepared for Challenges

RIS Media

This article first appeared in Real Estate magazine’s special-edition Women in Real Estate issue. View the entire issue here. Fiona Petrie. Vitals: RE/MAX Integra. Years in business: 40. Total regions served: 14. www.remaxintegra.com. After starting her career as a top-producing agent in Toronto, Ontario, Fiona Petrie relocated to the U.S., and her career path led her into a bevy of corporate leadership positions, including an executive-level position at Homes.com.

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Escrow: What it is and how it works

The Mortgage Report

In the mortgage process, 'escrow' is when funds are held by a neutral third party until the mortgage closes. Learn how escrow works here.

Mortgages 105
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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.