Thu.Mar 28, 2024

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Pending home sales pick up in February: NAR

Housing Wire

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% month over month, according to the newest data released Thursday by the National Association of Realtors (NAR). NAR’s Pending Home Sales Index increased to 75.6 in February, up from 74.3 in January. On a year-over-year basis, pending sales were down 7%. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity.

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Is It Easier To Find a Home To Buy Now?

Keeping Current Matters

One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale.

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NEXA Mortgage co-founders are splitting

Housing Wire

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. In the meantime, Kortas announced during a weekly Town Hall on Tuesday that company president Grella had been terminated, which means he will not be involved in the company’s daily operations or strategic decisions for the growth of the business.

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‘Apologize’ and 17 other common-sense ways to begin reforming NAR

Inman

Even before the courts resolve how agents are compensated, the National Association of Realtors has an opportunity to set a course for victory, Inman founder Brad Inman writes.

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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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NAR, MBA ask for clarification on underwriting rules

Housing Wire

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. In a letter addressed to Federal Housing Finance Agency (FHFA) director Sandra Thompson , Fannie Mae CEO Priscilla Almodovar, Freddie Mac CEO Michael DeVito, and Federal Housing Administration (FHA) commissioner Julia Gordon on Wednesday, the NAR and MBA wrote that it was impor

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Northwest MLS takes aim at the DOJ’s commission views

Housing Wire

Kirkland, Washington-based Northwest MLS (NWMLS) is looking to have its voice heard in a lawsuit all the way on the other side of the country. On Wednesday, NWMLS filed a motion asking Boston-based U.S. District Court Judge Patti B. Saris, who is overseeing the Nosalek commission lawsuit , if it could file an amicus curiae brief in response to the Department of Justice’s statement of interest.

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Panel of Judges Appear Open to Consolidating Commission Cases

RIS Media

Charleston, SC—Today, a panel of federal judges heard arguments from both plaintiffs and remaining brokerage defendants regarding whether the many disparate commission cases should be consolidated under one judge in one district—a decision with wide-ranging implications for the entire industry, as buyer suits remain a threat even to companies that have settled, and dozens of… The post Panel of Judges Appear Open to Consolidating Commission Cases appeared first on RISMedia.

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Better narrows loss in 2023, aims to reach profitability soon

Housing Wire

Better Home & Finance Holding Co. , the parent of digital lender Better.com , narrowed its net loss between the third and fourth quarters of 2023 by more than 80%, driven by expense cuts to its platform and marketing efforts. Going forward, Better is focused on driving market share and reaching profitability in the medium term. The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform.

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Best Real Estate Investing Conferences in 2024 (Chronological Order)

Bigger Pockets

If you’re looking to elevate your real estate investing knowledge, expand your contact list, and gain powerful insight into 2024 real estate trends, then you need to be at the places that can make it happen.

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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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Opinion: Reformed FHA program will offer lenders new business opportunities

Housing Wire

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit.

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2 Ways to Get a Free Home Appraisal and Check Your Property Value

HomeLight

The housing market is constantly changing, and property values can shift quickly. As a result, you might only have a vague idea of your home’s value — or, possibly, not even a clue. To determine your home’s true market value, you can hire a licensed appraiser for around $400 to $600. According to a 2023 Appraisal Survey by the National Association of Realtors, the typical cost is $500.

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Opinion: Fannie Mae’s title insurance pilot program overreaches

Housing Wire

Earlier this month, President Biden during his State of the Union announced several initiatives to address housing affordability in our country. We have long supported thoughtful efforts to ensure greater housing opportunity and affordability. Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae.

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Daily Links: Broadway Stages Wants to Demap Part of Greenpoint’s Monitor Street

Brownstoner

In the News Opposing Sides Clash in First Brooklyn Skate Garden Meeting [Eagle] South of France-Inspired Eatery Neeloo Quietly Closes [Greenpointers] Brooklyn Teen's Death 4th Fatal Subway Strike in 24 Hours [Gothamist] Mega-Cars Violate Brooklyn Bridge Weight Ban [Streetsblog] New Spots Joins Fray of Chef-Driven ‘Burg Hotel Eateries [Eater] ‘Everybody Is at a Loss’: Iconic Flatbush… Read More > The post Daily Links: Broadway Stages Wants to Demap Part of Greenpoint’s Monitor Str

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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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As insurance costs rise, Florida homeowners are given a new option

Housing Wire

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options. According to the Insurance Information Institute , this exodus has resulted in Florida homeowners paying an average of nearly $4,000 a year in insurance , which is nearly three ti

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Final Look at Local Housing Markets in February

Calculated Risk Real Estate

Note: Most analysts were surprised by the increase in sales in February. Not housing economist Tom Lawler, or any readers of this newsletter. The local data clearly showed that sales - as reported by the NAR - would be up solidly in February. This is one of the reasons I track local markets. It is also useful to track inventory, both new and active.

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Moehrl trial not likely until January 2025

Housing Wire

Plaintiffs and defendants in the Moehrl commission lawsuit have waited more than five years for their day in court. Based on the parties’ latest status report, it looks like they will be waiting a bit longer. In a status report filed on Monday, the plaintiffs and the sole remaining defendant in the suit, HomeServices of America , each indicated they would be available for a three- to four-week trial starting Jan. 21, 2025.

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4 of the Top We Buy Houses for Cash Companies in Madison

HomeLight

“We Buy Houses” companies are reaching out to homeowners in Madison and other cities, promising fast, all-cash offers for homes that may need a little extra love. Are these companies legitimate? They are, but there are a few things to keep in mind. While selling your home quickly for cash can be perfect for sellers who find themselves strapped for time, lacking in DIY skills, or short on finances for repairs, it’s not always the right move.

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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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Opinion: How to win the coming mortgage refi race

Housing Wire

One of the most critical moments in any race is the very beginning. A mistake at the start can snatch away a win before the race is even underway. Any coach will tell you that springing into action the moment the shot is fired is a critical success factor for any athlete. A race is a useful analog for the mortgage business, especially as it relates to the refinance business.

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5 of the Top We Buy Houses for Cash Companies in Lexington

HomeLight

In Lexington, We Buy Houses companies allow homeowners who need to dispose of their property quickly the option of obtaining an all-cash offer in a matter of days. This can be particularly appealing for a property that needs extensive repairs, or for sellers that don’t the time or money to invest in making the necessary fixes. This post will guide you through the advantages and disadvantages of opting for a cash-for-homes company, ensuring you can make the best decision for your situation.

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DOL accuses PrimeLending of violating whistleblower provisions

Housing Wire

Investigators at the U.S. Department of Labor announced on Wednesday that they found that PrimeLending , a Texas-based retail mortgage bank, violated whistleblower provisions in a case involving two employees who raised consumer fraud concerns. According to the DOL, the company terminated two California-based employees after they reported to a regional manager and the vice president of Human Resources that a branch manager pressured them to pass on fees to loan applicants caused by internal proc

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4 of the Top We Buy Houses for Cash Companies in Baton Rouge

HomeLight

All-cash offers from “We Buy Houses” companies can be hard to ignore for homeowners in markets like Baton Rouge, who might be on properties that aren’t in tip-top shape. These offers can be especially enticing for those needing more time, budget, or know-how to undertake necessary repairs. They offer property owners a fast track to selling their homes and moving forward with their lives.

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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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HUD’s green retrofitting program issues $173M in grants and loans

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) on Thursday announced $173.8 million in new grant and loan awards under the Green and Resilient Retrofit Program (GRRP), which brings the level of total funding awarded under it to $544 million, now comprising more than 50% of the full allocation. Speaking in Chicago on Thursday, Acting HUD Secretary Adrianne Todman announced the new funding alongside the city’s mayor, Brandon Johnson, at a community that was a awarded an $11.76 million

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Pending Home Sales See Slight Increase in February

RIS Media

Pending home sales increased 1.6% in February, with the Midwest and South each posting monthly gains in transactions, while the Northeast and West posted losses. All four U.S. regions saw year-over-year decreases, however, according to a March 28 report from the National Association of REALTORS® (NAR). The Pending Home Sales Index (PHSI)—a forward-looking indicator of… The post Pending Home Sales See Slight Increase in February appeared first on RISMedia.

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How to empower your team to spot cybersecurity risks

Housing Wire

When it comes to reducing cybersecurity risks, your team plays a crucial role. To ensure the safety of your digital assets and sensitive information, it’s important to make sure all users are well-informed about cybersecurity and receive periodic training. To reduce risks , we’ll explore why empowering your team through education and training is essential to mitigate risks and keep your business secure.

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Newsmakers Spotlight: Ashley Dane on Understanding and Embracing AI in Real Estate

RIS Media

Ashley Dane, regional director of RE/MAX of Michigan, is a strong advocate and supporter of new and emerging technology in the real estate landscape. From educating agents to implementing new strategies, she has made significant contributions to the real estate technology landscape, moving the industry forward and impacting real and necessary change.

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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.