May, 2023

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How to answer buyers’ top 10 most-asked mortgage questions

Inman

Agents should be prepared to answer their buyer's mortgage questions, including types of mortgages, lender guidelines, preapproval vs. prequalification and the closing process in the area.

Mortgages 192
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What to Know About Building Permits When Buying or Selling

RIS Media

Owning a home brings many opportunities to improve and add your personal touches. However, before making significant improvements, you need to get permission from the local authorities. To do so, you need a building permit. Understanding what a building permit is and how it works is essential. Local government agencies issue building permits as approval… The post What to Know About Building Permits When Buying or Selling appeared first on RISMedia.

As-is 144
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Housing Market Tracker: Mortgage rates over 7%

Housing Wire

Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory , thankfully, saw some decent growth last week. Purchase application data had a second straight week of declines. Here’s a quick rundown of the last week: Active inventory grew 8,914 week to week, even though new listing data is still trending at all-time lows in 2023.

Mortgages 515
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New Single-Family Home Size Trending Lower

Eye on Housing

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022, and housing affordability worsened, the demand for home size has trended lower. According to first quarter 2023 data.

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The Broker Action Plan for the Post-NAR Lawsuit Landscape

Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.

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A U.S. Default Could Be Catastrophic For Real Estate Investors—Here’s What You Need To Know

Bigger Pockets

The looming debt ceiling is worrisome, as the economic implications that follow a possible default are unprecedented and could be catastrophic for all sectors, including real estate. Here's what you need to know.

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5 things agents should look for in a real estate photographer

Inman

It can be hard to know which type of photographer will show up at your property. Here are some best practices to ensure your listing (and your client) are set up for success.

Agents 190
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Improving a Credit Score to Help Buy a Home

RIS Media

If your credit has taken a bit of a hit, you must make changes to rebuild your score. With a higher credit score, applying for a mortgage with better terms and lower interest rates will be easier. This could give you the credit score needed to buy a house with the terms you want. Increasing… The post Improving a Credit Score to Help Buy a Home appeared first on RISMedia.

Mortgages 145
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CPI report is good news for mortgage rates

Housing Wire

The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price Index inflation report shows how the fear of 1970s-style inflation is wildly overblown. Today’s numbers don’t look like the 1970s at all, when rent, wages, and oil shocks sent inflation running hotter than anything we have seen in recent modern-day hi

Mortgages 535
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Compound Interest: 4 Extensive Private Estates

Sotheby's International Real Estate

Each of these impressive compounds—in locations from East Coast to West—is an enviable private retreat for groups large and small to enjoy swimming, stargazing, sports, or simply relaxing together indoors and out. Rancho Bella Vista Micah Brady, Mike Brady | Sotheby’s International Realty – Santa Ynez Valley Brokerage Minutes from Santa Barbara and the “California Riviera,” this idyllic 123-acre ranch enjoys seemingly endless views of the Santa Ynez River, the area’s renowned wine country,

Brokerage 139
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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

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Unaffordable Prices Are Most Common Reason Buyers Can’t Make Purchase

Eye on Housing

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.

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Why RE/MAX's CEO isn’t worried about the market (but hates a cluttered inbox)

Real Estate News

President and CEO Nick Bailey — a 30-year industry veteran — takes a long-term perspective on real estate, and he already sees positive shifts.

Marketing 298
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Offices are in trouble. Can turning them into housing save downtown?

Inman

Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.

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Common Reasons Why Pending Sales Fall Through

RIS Media

When you think you’ve found your perfect home, you will be understandably devastated if the sale falls through. After the seller has accepted your offer, it can take as long as 60 days to close or more, and many things could go wrong. You might be surprised at the number of reasons pending sales fall… The post Common Reasons Why Pending Sales Fall Through appeared first on RISMedia.

Sales 143
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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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Is the savagely unhealthy housing market back?

Housing Wire

Just when I thought days on market were returning to normal, that number for existing homes fell back down to 22 days. Why is this so important to me? If the days on the market are at a teenager level or even lower, it’s never a good sign for the housing market. I would say it’s savagely unhealthy to have that level and even though we’re not there yet, we are dangerously close.

Marketing 539
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Spring-Summer 2023 Pantone Colors of the Year

Sotheby's International Real Estate

Brady Bingham and Janet Suisted – New Zealand Sotheby’s International Realty Whether it accessorizes a person or accents a place, color carries so much meaning. That’s why interior designers, decorators, and architects pay attention when the Pantone Color Institute publishes its forecast trends for the fashion industry. As the leading authority on the palettes to watch for in the New York Fashion Week Spring-Summer 2023 collections, Pantone knows that hues make a huge impact, whether

Design 128
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Secure Digital Assets that Are Easy to Share and Access

GeekEstate

[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Prisidio] A cloud-based vault to securely store, organize, and share all life’s essential documents and information, Prisidio provides cybersecurity and data protection solutions that protect users’ sensitive data and digital assets.

Finance 124
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Bob Hale: 50 years at HAR, and the pursuit of greatness

Real Estate News

During his five decades as a member of HAR and 35 years as president and CEO, Hale has driven innovation in his organization and the industry at large.

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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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Sisu claims transaction revolution is underway with portal 2.0 update

Inman

Sisu, a proptech that combines sales cycle and workflow automation with performance tracking technology, said Client Portal 2.0 aims to refine how agent teams interact with critical vendors.

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Mulch Matters! How Curb Appeal Can Spark (or Sink) a Sale

RIS Media

Just how exacting and inviting must curb appeal be for a home going on the market to achieve its full price potential? Alex Chingas, a REALTOR® with the Bross Chingas Bross team at Coldwell Banker Realty in Westport, Connecticut, tells this tale… “We recently had an appointment with a home stager to come look at… The post Mulch Matters! How Curb Appeal Can Spark (or Sink) a Sale appeared first on RISMedia.

Sales 141
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Housing Market Tracker: Spring inventory falls

Housing Wire

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Hopefully, this is just a blip, which can occur from time to time with weekly data. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

Marketing 491
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Inflation Falls Below 5% For First Time in Two Years

Eye on Housing

Consumer prices in April saw the smallest year-over-year gain since April 2021. This marked the tenth consecutive month of deceleration and the first time the rate has fallen below 5% in two years. While the shelter index (housing inflation) experienced its smallest monthly gain since January 2022, it continued to be the largest contributor to the total increase, accounting for.

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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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10 Landlord-Tenant Laws Every Landlord Should Know

Bigger Pockets

Landlord-tenant laws can be complicated and have a lot of grey areas. This article lists out 10 critical laws you must know before renting out property.

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The 'catastrophic' impact of a debt default on housing costs

Real Estate News

The U.S. has never defaulted on its debt, but without government action, it could happen by June 1 — leading to a surge in mortgage rates and monthly costs.

Mortgages 268
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Here’s the story: Iconic ‘Brady Bunch’ home hits market for $5.5M

Inman

The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.

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When Is Someone Able to Terminate a Real Estate Contract?

RIS Media

When you sign the purchase agreement for your dream home, you are locked into a legal contract with the seller. But what happens if you need to back out? Many ask if a seller can back out of a real estate contract but what about home buyers? Perhaps something about the home isn’t as expected,… The post When Is Someone Able to Terminate a Real Estate Contract?

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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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Housing Market Tracker: A wild week for rates

Housing Wire

It was a wild ride for the housing market last week! The 10-year yield rose noticeably, sending mortgage rates near 7% right in the heart of the spring selling season. New listings data fell, however, active inventory grew. And purchase apps had a weekly negative print, continuing the 2023 theme of higher rates impacting the data. Here’s a quick rundown of the last week: Total active listings grew by 3,809 weekly, but new listings are still trending at all-time lows.

Marketing 500
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Improved Affordability Expectations Lead to More Engaged Buyers

Eye on Housing

Improvements in affordability expectations have led to an increase in the share of prospective buyers who have moved beyond just the planning phase of their home search: 56% report being actively engaged in the purchase process in the first quarter of 2023, up from 46% a quarter earlier. The share of prospective buyers actively searching for a home rose in.

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REITs vs. Stocks: Is There Any Diversification Benefit At All?

Bigger Pockets

If you're exploring diversification options, it's crucial to note that this investment might not be as sensible as initially thought. Here's the truth about this trendy investment.

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