Housing Wire

JULY 6, 2023

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? It boils down to two factors, according to housing-industry experts: a lack of housing inventory , or supply; and high demand for that limited housing stock — which also is fueling a jump in new-home sales.

Renovation 488

Renovation Sales Investor Mortgages 488

Real Estate News

JULY 6, 2023

The Baird & Warner CEO shares how his family business has thrived in a cyclical, sometimes “regressive” industry, and discusses the future of buyer agency.

Brokerage 264

Brokerage Industrial 264

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. By contrast, the 30-year was at 5.30% a year ago at this time.

Mortgages 397

Mortgages Construction New Construction Investor 397

Real Estate News

JULY 6, 2023

A former employee has withdrawn a lawsuit alleging she was unfairly fired after ending a relationship with the National Association of Realtors president.

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Housing Wire

JULY 6, 2023

The Consumer Financial Protection Bureau (CFPB) released its 2022 Fair Lending Annual Report to Congress last week, which illustrates how it took aim last year at redlining and appraisal discrimination in pursuit of its enforcement and supervision, guidance and rulemaking, interagency coordination, and outreach and education missions. The CFPB in 2022 focused heavily on redlining; potential discrimination in the underwriting process; whether lenders are “illegally steering applicants on a prohib

Lending 394

Lending Technology Loans Mortgages 394

Real Estate News

JULY 6, 2023

At 6.81%, the weekly average for a 30-year fixed-rate mortgage is the highest level seen since last fall, when rates spiked above 7%.

Fixed-rate mortgage 264

Fixed-rate mortgage Mortgages 264

Keeping Current Matters

JULY 6, 2023

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them.

Sales 259

Sales Marketing 259

Housing Wire

JULY 6, 2023

Digital mortgage lender Better.com disclosed that it posted a net loss of $89.9 million in the first quarter of 2023 and cut approximately 91% of its workforce over an approximately 18-month period — due in large part to a substantial decline in its funded loan volume. Better.com also spilled red ink in both 2022 and 2021, reporting a net loss of $888.8 million and $301.1 million respectively, according to the latest Securities and Exchange Commission (SEC) filings with Aurora Acquisition Corp.

Loans 370

Loans Mortgages Agents Brokerage 370

Inman

JULY 6, 2023

Existing-home sales are expected to tumble to a 12-year low by the end of 2023, but they won't stay that way for long, Realtor.com Chief Economist Danielle Hale predicted on Wednesday.

Sales 174

Sales Agents Marketing 174

Housing Wire

JULY 6, 2023

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac released updates on Wednesday related to condominium and co-operative project standards policies for properties in need of critical repairs and special assessments. “At the direction of the FHFA, Fannie Mae and Freddie Mac have worked together to update project review requirements to assist lenders in identifying projects that may have issues that result in unsafe conditions, and to promote sustainable homeownership,” the update

Inspection 370

Inspection Finance Sales As-is 370

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Industrial

Inman

JULY 6, 2023

Janelle Brevard initially sued the National Association of Realtors, claiming her firing was a form of harassment and retaliation. The case ended Thursday, though many questions still remain.

MLS 167

MLS Brokerage Industrial Agents 167

Housing Wire

JULY 6, 2023

Apprasial management company Valligent , which was recently acquired by enterprise risk management and collateral valuation services provider VerosTM , announced today that it has integrated with the ICE Mortgage Technology platform Encompass. The Encompass platform by Ice Mortgage Technology offers innovative solutions for the mortgage industry and provides seamless integration capabilities and a marketplace for various mortgage-related products and services.

Technology 369

Technology Mortgages Lending Equity 369

Inman

JULY 6, 2023

Strong jobs numbers and GDP growth have bond market investors convinced it's all but certain the Federal Reserve will resume rate hikes this month.

Mortgages 158

Mortgages Investor Marketing 158

Housing Wire

JULY 6, 2023

Finance of America (FOA) announced Thursday that its indirect subsidiary Incenter closed the sale of its title insurance businesses. The company previously announced that it would be selling its title insurance businesses in early February. “The completion of this transaction marks another important step in the execution of Finance of America’s long-term growth strategy designed to help Americans achieve their retirement goals through the use of home equity,” Graham Fleming, the CEO of FOA

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Title Closing Sales Finance 363

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Brokerage

Inman

JULY 6, 2023

Dallas-based team leaders Jason Castro and Liz Mello have moved their team, The Castro Group, to Compass. They are the 48th agent or team to move from Coldwell Banker to Compass this year.

Agents 158

Agents Brokerage 158

Housing Wire

JULY 6, 2023

First American Financial Corporation announced this week the appointment of Jody Mulkey as its chief technology officer. In this role, Mulkey will lead the corporate product development team, which is responsible for building and enhancing enterprise products across multiple First American divisions. “We’re committed to developing innovative digital products that improve the customer experience by reducing risk and streamlining processes,” said Ken DeGiorgio , chief executive o

Technology 362

Technology Development Title Banks 362

Inman

JULY 6, 2023

Even as transactions are going through for higher-priced condos and apartments, sales in the lower price tiers have been drying up.

Sales 158

Sales Marketing 158

Housing Wire

JULY 6, 2023

Wolters Kluwer Compliance Solutions , a provider of risk management and regulatory compliance solutions, announced this week the appointment of Vikram Savkar as its new executive vice president and general manager. In this role, Savkar will be responsible for the management of an expanding business unit within Wolters Kluwer that focuses on product innovation and technological advancements. “I am thrilled that a capable, experienced leader with Vikram’s strong skillset has taken the

Technology 341

Technology Banks Development As-is 341

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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.

Agents

Inman

JULY 6, 2023

Whether you’re an agent parting ways with a team you’ve outgrown, or a team releasing an agent back into the industry for lack of production or disrupting the team culture, there’s a proper way to part ways to maintain both parties’ professionalism and reputation, Erin McCormick Torres writes.

Agents 148

Agents Industrial Brokerage 148

Bigger Pockets

JULY 6, 2023

A rental property portfolio can replace your job, give you ultimate financial freedom, and allow you to do what you want when you want.

Finance 126

Finance 126

Inman

JULY 6, 2023

The average sale price nationwide just exceeded 100% of list price for the first time since August of last year, according to a new market report from Redfin released on Thursday.

Sales 148

Sales Marketing Agents 148

Eye on Housing

JULY 6, 2023

The count of open, unfilled jobs for the overall economy moved lower in May, falling to 9.8 million. While ongoing tight labor market conditions have likely confirmed one to two more Fed rate hikes through the start of the Fall, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions. The count of open.

Construction 116

Construction Marketing 116

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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.

Agents

Inman

JULY 6, 2023

Knowing which platforms to advertise on, which strategies are the most effective on those platforms, and how to deliver on promises to clients will help with marketing effectively in any digital space, writes Victoria Kennedy.

Marketing 148

Marketing Agents 148

Brownstoner

JULY 6, 2023

A lottery has opened for 341 apartments in the 100 percent affordable Atlantic Chestnut development under construction in Cypress Hills on the site of a former food processing plant that burned down in 2012. The Atlantic Chestnut phase one lottery is for the first 14-story building in the three-building, 1,294,400-square-foot development… Read More > The post Affordable Housing Lottery Opens in Cypress Hills for $419 Studios and $722 Three-Bedrooms appeared first on Brownstoner.

Construction 105

Construction Development Marketing 105

Inman

JULY 6, 2023

The blockchain and Web3 advocate said its artificial intelligence-enhanced and optical character recognition-backed update will increase workflow efficiency and augment data dissemination.

Technology 148

Technology 148

HomeLight

JULY 6, 2023

With nearly 96% of home buyers using the Internet to search for a new home — and 60% of their search conducted using a mobile phone — your home’s future owner might be just a few keystrokes or taps away. That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS.

MLS 105

MLS Backup offer Inspection contingency Purchase and sale agreement 105

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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.

Sales

Inman

JULY 6, 2023

These four-letter words will help you find the success you're looking for in your real estate business, Jimmy Burgess writes.

Agents 148

Agents Marketing 148

Sotheby's International Real Estate

JULY 6, 2023

Jenny Landey and Zacheriah Dayton – Sotheby’s International Realty – East Hampton Brokerage Sometimes the most meaningful luxury lifestyles are only discovered through experiment and experience. This is why many prospective luxury homebuyers opt to rent in different enticing locations before committing to a property purchase. Not only does this allow them to judge whether a particular area has all the practical and recreational amenities they desire, it also lets them discover

Brokerage 104

Brokerage 104

Inman

JULY 6, 2023

Facebook is an important marketing tool that, if used correctly, can help a real estate professional generate leads and stay top of mind with clients, writes marketing expert Laura Stace.

Marketing 148

Marketing Technology Agents 148

Seattle Times Real Estate

JULY 6, 2023

The results from The Seattle Times/Suffolk University poll highlighted concerns over rising housing costs and public safety.

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