Eye on Housing
NOVEMBER 9, 2022
Per the Mortgage Bankers Association’s (MBA) survey through the week ending November 4th, total mortgage activity declined 0.1% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 7.14%. The FRM rate has risen 33 basis points over the past month and has been above 7% for the past three weeks. The Market.
Housing Wire
NOVEMBER 9, 2022
While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity. According to Black Knight’s mortgage monitor report, the country’s housing equity position remains strong compared to its position at the beginning of the pandemic, with equity positions $5 trillion, or 46%, above pre-pandemic levels.
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Keeping Current Matters
NOVEMBER 9, 2022
Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home.
Housing Wire
NOVEMBER 9, 2022
Purchase application data is now below 2008 levels! But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care. Understanding this data line and what it is trying to tell you will be more valuable than erroneously thinking the market is crashing and we’ll see a wave of foreclosures.
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Realtor.com
NOVEMBER 9, 2022
Photo courtesy of Makara ADUs via Houzz Who would want to live in a tiny home in their parents’ backyard? As it turns out, a lot of people—including Lena Dunham. The writer, director, and millennial antihero recently opened the doors of her newly built 1.5-bedroom forever home to Architectural Digest. The twist? It’s situated 10 feet behind her parents’ house in Connecticut.
Housing Wire
NOVEMBER 9, 2022
The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
NOVEMBER 9, 2022
If you work in the mortgage industry, the challenges of the current housing market are likely top of mind. Amid rising interest rates and low housing inventory, the industry as a whole is wondering when the light at the end of the tunnel will finally shine through. Despite the less-than-encouraging statistics and data, a downturn in the housing market doesn’t have to be all doom and gloom.
Realty Biz
NOVEMBER 9, 2022
Did you know that the average house in the United States now costs over $350,000 ? As you might guess, this has served as an obstacle for those who are looking to purchase their first home. It's no secret that the housing market has been skyrocketing over the past couple of years. For many people, it has been virtually impossible to buy a home. This is especially true for first-time buyers.
Housing Wire
NOVEMBER 9, 2022
The decision to exit the forward mortgage business hit Finance of America Companies hard in the third quarter of 2022. The company registered a $302 million loss from July to September, mainly due to non-cash transactions. It lost $168 million, or about half of the Q3 losses, in the previous quarter. FoA announced the shutdown of Finance of America Mortgage , its forward mortgage business, in late October, becoming the largest originator to do so this cycle.
Realtor.com
NOVEMBER 9, 2022
iStock Can you hand off a home loan from one person to another? The answer is usually no. When you sell your home, the buyers have to get their own mortgage and you pay yours off in full with proceeds from the sale. But there are a few exceptions to the rule. Here are the ways you can transfer a mortgage, and why you might want to consider it. What kinds of mortgage transfers are possible?
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Housing Wire
NOVEMBER 9, 2022
Potential homebuyers stayed on the sidelines for mortgages amid the Federal Reserve ’s announcement of another interest rate hike. The Mortgage Bankers Association (MBA) survey shows that the mortgage composite index for the week ending Nov. 4 declined 0.1% from the previous week. Mortgage loan application volume plummeted 70.3% compared to the same period in 2021.
Realtor.com
NOVEMBER 9, 2022
Getty Images You might have heard it’s more challenging to get a mortgage if you’re self-employed. And it is true that self-employed homebuyers do have to jump through a few more hoops than a W-2 employee. Namely, you’ll have to gather a bunch of paperwork to validate your income and self-employment history. Yet taking the time to organize documents will be well worth it when you’re holding the keys to your new house.
Realty Biz
NOVEMBER 9, 2022
The city of Cincinnati, Ohio might not necessarily be on your list of the best places to live in the United States, but guess what? You’d be pretty wrong to discount this Midwest city. In fact, it’s far from the sleepy little burg you think it is - it’s rated 41st in US News and World Report’s Best Places to Live for 2022-2023, as well as 22nd for Cheapest Places to Live and number one with a bullet for Best Places to Live in Ohio.
Brownstoner
NOVEMBER 9, 2022
“It’s so awful.” “They’re monstrosities.” “They are ugly.” “It sticks out like a sore thumb.” These are some of the comments posted to various Brooklyn neighborhood Facebook groups talking about the imposing white and silver Link5G towers that have started popping up on sidewalks across central Brooklyn. “Neighbors have been asking… Read More > The post ‘But Why So Tall?
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Lighter Side of Real Estate
NOVEMBER 9, 2022
With mortgage rates having gone up, and home prices not seeming to come down much, some buyers are choosing to wait it out and see how much prices come down. But there’s not a lot of consensus on whether or not prices will come down, or how much they will if they do. According to this Market Watch article , some predictions are that they’ll be coming down quite a bit in the near future, while others say that they’ll remain stable, if not go even higher.
Realty Biz
NOVEMBER 9, 2022
Ask Bill Real Estate is a weekly column hosted by 36-year Real Estate Pro Bill Gassett. Bills Q&A will answer the most difficult questions for real estate agents, DIY, first-time home buyers, and mortgage lenders email your questions now to billgassett@remaxexec.com. Question from Mike Collins, Rochester, New York: How do I find a property's assessed value?
Toronto Realty Blog
NOVEMBER 9, 2022
TorontoRealtyBlog. Do I run a public service? Sometimes it feels like I do. And to be fair, some of the regular readers have paid me compliments to this effect in the past, suggesting that this is an unparalleled free source for real estate insights. But what many of you don’t know is that, really and truly, people call me all the time thinking that this is some sort of public service.
Agent Fire
NOVEMBER 9, 2022
Are you a real estate agent experiencing burnout? Find out how to quickly and permanently minimize stress from overworking. Real Estate Agent Burnout: What, Why, and How to Bounce Back. is just one of many great real estate strategies on The Spark.
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.
Realtor.com
NOVEMBER 9, 2022
HGTV On the latest “ Good Bones ,” Mina Starsiak Hawk is back in the Old Southside neighborhood of Indianapolis—and this time, she’s showing off a cozy new design style that her team is dubbing “cabin chic.” In the episode “Twinning Is Winning,” Starsiak Hawk sets out to build another house from scratch and decides to use the same floor plan she used for the home she remodeled right down the street.
BubbleInfo
NOVEMBER 9, 2022
Could we have a decent spring selling season next year? Is there any precedent of our market settling down that quickly? Home sales had been struggling for months, and then the Lehman Brothers collapse in September, 2008 helped to trigger the Great Recession, and millions of foreclosures and short sales. Yet, just seven months later, […].
Bigger Pockets
NOVEMBER 9, 2022
The new BiggerPockets Pro membership is here, and you should check it out if you want to start, scale, or manage your real estate portfolio. Whether you’re new to investing and need […].
Realtor.com
NOVEMBER 9, 2022
MLS via Realtor.com An updated Colonial in Stamford, CT , is the oldest property to hit the market this week on Realtor.com®. The charming, four-bedroom home is full of period details, including wide-plank hardwood floors, exposed beams, and an oversized stone fireplace. Modernizations over the years offer a kitchen with butcher block countertops, a skylight, and recessed lighting.
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.
Brownstoner
NOVEMBER 9, 2022
This sprawling Flatbush standalone certainly isn't short on space, both indoors and out, with two floors of bedrooms and a two-car garage. The updated interior includes renovated bathrooms, but many period details in the house remain, including stained glass, mantels and wainscoting. The house at 296 Stratford Road is… Read More > The post Flatbush Standalone With Mantels, Updated Bathrooms, Garage Asks $2.895 Million appeared first on Brownstoner.
Notorious ROB
NOVEMBER 9, 2022
This content is behind fabulous velvet ropes for Notorious VIP Subscribers only. Please login or sign up. Thank you! -rsh. Monthly Subscription. $ 20. Monthly. Subscribe Now. Annual Subscription. $ 200. Annually (Save $40). Subscribe Now. The post [VIP] Zillow 3Q22 Earnings: Lonesome Dove appeared first on NotoriousROB.
HomeLight
NOVEMBER 9, 2022
You got into real estate partly so you could have a more flexible schedule and gain control of your life, and life is good. You’ve got a solid group of clients, a few listings, business is now finding you, and you’re making money like you never have before. So, why do things sometimes seem so out of control? While you look forward to helping your clients every day, you’ve begun to feel like you’re just keeping your head above water.
RISMedia
NOVEMBER 9, 2022
By Dixie Somers As you consider the architecture for the dream house you're building, make sure that you're spending enough time thinking about the roof. The roof can account for almost half of the exterior, so it carries plenty of weight in terms of your home's appeal. One aspect of roofs that's important to cover […]. The post Building a House?
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Realtor.com
NOVEMBER 9, 2022
Getty Images / MLS via Realtor.com A hip-hop mogul is ready to unload the oceanfront getaway he’s had for more than two decades. Dr. Dre —rapper, producer, and co-founder of Beats Electronics—has listed his six-bedroom, seven-bath Malibu, CA, home for $20 million, Dirt reported. Spread over nearly 8,850 square feet, the striking, three-story mansion is located on Carbon Beach, an ultra-exclusive strip of sand favored by billionaires.
Bigger Pockets
NOVEMBER 9, 2022
House flips, opportunity zone investing, student housing—name a real estate strategy, Evan Turner, former NBA player, has probably done it. Unlike most professional athletes, Evan left the league with more […].
Realtor.com
NOVEMBER 9, 2022
MLS via Realtor.com A spectacular midcentury modern marvel designed by architect Erich Gnant is available in Brookfield, WI , for $1,190,000. Conceived as his personal residence and built in1960, the 5,543-square-foot home is a master class in forward-thinking design and where Gnant and his wife raised their family. “When the home was built, it was billed as [Gnant] trying to test the market for upscale contemporary homes,” says listing agent Colleen Resendiz , of Benefit Realty.
RISMedia
NOVEMBER 9, 2022
By Meghan Belnap When buying or selling a home, it is important to have a real estate contract. This document outlines the terms and conditions of the transaction. Here are a few things to consider when reviewing your real estate contracts. The Sales Price The sales price is one of the most important aspects of […]. The post What to Look for in Your Real Estate Contracts appeared first on RISMedia's Housecall.
Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty
The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.
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