Thu.Jun 06, 2024

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Q1 2024 mortgage lending activity declines to near-record low

Housing Wire

Mortgage lending in the U.S. dropped by 6.7% in the first quarter of 2024 to 1.28 million mortgages secured by residential property, the 11th drop recorded in the past 12 quarters and the lowest level since the year 2000, according to the newest U.S. Residential Property Mortgage Origination Report compiled by data provider Attom. This decline contributed to a 4.8% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction since reaching a high point in 2021,

Lending 413
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'Unfiltered' podcast: Using the media to your advantage

Real Estate News

Watch the conversation with industry news leader Mitch Robinson as he offers advice for working with local news outlets to “tell your story in a proactive way.

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The Real Brokerage adds more teams in May

Housing Wire

The Real Brokerage announced Thursday the addition of several new teams across the U.S. last month as the publicly traded company pushed its agent count above 19,000. The newly released 2024 RealTrends Verified rankings , based on 2023 data, showed that Real was the sixth-largest brokerage in the country for sides (48,905) and ranked No. 10 for sales volume ($21.2 billion).

Brokerage 404
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Mark your calendars: 3 key dates for the industry and the DOJ

Real Estate News

Several commissions-related milestones are coming up, starting with the NAR settlement opt-in deadline in less than two weeks.

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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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New planning tool arrives as California prepares for more accessory dwelling units

Housing Wire

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). The Berkeley-based Community Planning Collaborative (CPC), a self-described “housing policy and ADU resource leader,” will start rolling out its ADU Plans Gallery this month.

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Mortgage rates dip below 7%, but market is still ‘bittersweet’

Real Estate News

Despite an increase in supply, affordability continues to keep many buyers on the sidelines, and rates aren’t expected to fall significantly this year.

Mortgages 219

More Trending

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Your Equity Could Make a Move Possible

Keeping Current Matters

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.

Equity 238
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Mortgage credit availability increased in May: MBA

Housing Wire

Mortgage credit availability saw a slight increase in May, according to an analysis of ICE Mortgage Technology data by the Mortgage Bankers Association (MBA). The Mortgage Credit Availability Index (MCAI) rose by 0.1% to 94.1 in May. The index was initially benchmarked to 100 in 2012. The MCAI measures how tight or loose lending standards are in any given month.

Mortgages 354
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Pricing Strategies for Houses in Poor Condition

RIS Media

Are you wondering how to set an accurate price for a home in rough shape? Selling a house in poor condition presents unique challenges, primarily in setting a price that reflects its current state and potential market value. I will provide tips for effective pricing strategies for such properties, unpack the factors influencing their valuation… The post Pricing Strategies for Houses in Poor Condition appeared first on RISMedia.

Marketing 132
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Guaranteed Rate wants to build a bridge between reverse and forward mortgage channels

Housing Wire

Just over a year after its further expansion into the reverse mortgage business, multichannel mortgage lender Guaranteed Rate has focused on bringing a wider swath of mortgage industry professionals up to speed with the dynamics of reverse , a trend that has unfolded in other parts of the industry as more forward lenders have expressed interest in the space.

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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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NAR says settlement ‘eliminates’ steering. Plaintiffs issue warning

Inman

Plaintiffs' lawyer Michael Ketchmark vowed legal action to enforce deal: "Anyone who thinks they can send a few emails or bury their head in the sand and avoid the application of the law is wrong.

MLS 122
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Moody’s reaffirms ‘above-average’ quality rating for reverse mortgage servicer Celink

Housing Wire

Bond credit-rating organization Moody’s Investors Service has reaffirmed its “above-average” rating for the reverse mortgage servicing performance of Celink , which is the current holder of the U.S. Department of Housing and Urban Development (HUD)’s Home Equity Conversion Mortgage (HECM) servicing contract and is a HECM subservicer for several major lenders.

Mortgages 325
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4 Easy Ways Sellers Can Stage Their Houses Themselves at Little Cost

RIS Media

Of course you would like seller clients to have their homes professionally staged if you think it needs it. But sometimes homeowners will not want to spend the money or agree to make drastic changes to rooms, especially if they are living there. Creative agents can at least make suggestions that cost little, but either… The post 4 Easy Ways Sellers Can Stage Their Houses Themselves at Little Cost appeared first on RISMedia.

Staging 125
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NAR Pride Month post draws hundreds of anti-LGBTQ+ replies

Inman

The National Association of Realtors' Instragram post highlighting Pride Month has garnered nearly 900 comments — the majority of them against the LGBTQ+ community. The LGBTQ+ Real Estate Alliance has called on NAR to control the comments section and reprimand Realtors who've made discriminatory statements.

MLS 119
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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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House Price Appreciation by State and Metro Area: The First Quarter of 2024

Eye on Housing

Despite higher mortgage rates, limited resale inventory and strong growth in demand continued to put upward pressure on house price appreciation. House price appreciation was recorded in all 50 states and the District of Columbia. According to the quarterly all-transactions House Price Index (HPI) released by the Federal Housing Finance Agency (FHFA), U.S. house prices.

Finance 116
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Nova Scotia MLS adds new fields to serve buyers with mobility needs

Inman

Realtors can now add information to help potential buyers search for homes that might meet their mobility needs. The new fields were added to the Nova Scotia MLS on Wednesday.

MLS 112
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NAR and Property Rights Win Big in Supreme Court

RIS Media

The National Association of REALTORS® (NAR) had several major wins recently in the U.S. Supreme Court, advancing and protecting property rights around the country. Legal challenges in support of property rights are an important tool in public policy and advocacy, with decisions that have broad regulatory implications around the country. In 2023, NAR submitted two… The post NAR and Property Rights Win Big in Supreme Court appeared first on RISMedia.

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30 years of brutally honest business advice in 1250 words

Inman

Do you need some tough love to get you moving forward in your real estate business? Jimmy Burgess shares the advice that's helped him achieve the greatest success in his career.

Brokerage 108
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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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Mortgage Rates Pull Back Again

RIS Media

Mortgage rates pulled back again after creeping up over 7% last week, ticking down to just under, averaging 6.99% this week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week’s numbers: The 30-year FRM averaged 6.99% as of June 6, 2024, down from last week when it averaged… The post Mortgage Rates Pull Back Again appeared first on RISMedia.

Mortgages 108
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Christie’s Real Estate and Modwell open partnership to more agents

Inman

The design company's generative AI and 3D tech will now be available to 250 Christie's International Real Estate Masters Circle agents in the U.S. and all 3,500 agents affiliated with @properties.

Agents 106
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They bought homes intending to refinance. Now they’re stuck

Seattle Times Real Estate

“We did this with the expectation that we would only have to weather this high payment for a chunk of time,” says Steven Wolf, a 37-year old English teacher.

Marketing 111
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FBI raids Atlanta office of apartment operator Cortland

Inman

Investigators searched the company's office as part of an inquiry into alleged apartment price-fixing in the multifamily industry.

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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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Report: Sellers Cutting Prices at Highest Rate Since 2022

RIS Media

Nationwide, 6.4% of homesellers cut their asking price during the four weeks ending May 26 on average, the highest share since November 2022, according to a new report from Redfin. The median asking price dropped roughly $3,000 to $416,623 in the last week, the first decline in six months. Additionally, for-sale supply is growing more… The post Report: Sellers Cutting Prices at Highest Rate Since 2022 appeared first on RISMedia.

Sales 102
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Broker Spotlight: Victoria Roberts, eXp Realty Alaska

Inman

Find out how this Alaska broker went from personal struggle to professional success and how a major disaster led her to her current company.

Brokerage 111
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Op-Ed: How We Really Got Here (A Response)

RIS Media

Recently an op-ed was published entitled “How We Got Here,” and it was so one-sided I felt compelled to respond. If there is one lesson that should be learned about the real estate industry right now, it should be that we need to consider outside opinions. Now is not the time to retreat to our… The post Op-Ed: How We Really Got Here (A Response) appeared first on RISMedia.

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Texas Housing Market Cools Down: Boon for First-Time Buyers?

Marco Santarelli

The Texas housing market , once a hotbed of activity fueled by pandemic-era trends, is experiencing a shift. After a period of rapid price increases, some areas of the state are now seeing home values decline. This marks a significant change from the previous seller's market that dominated the real estate landscape for several years. While the national housing market continues to see price growth, surpassing 4% according to Redfin's data, Texas is charting a different course.

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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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Settlement Eliminates ‘Theoretical Steering,’ According to NAR

RIS Media

The National Association of REALTORS® stated that its post-settlement practice changes “eliminate steering,” according to a recent update on the organization’s settlement FAQ page that addresses steering concerns. Steering concerns have been present in conversation since the commission lawsuits across the industry began. The argument presented in Burnett and many other cases is that when… The post Settlement Eliminates ‘Theoretical Steering,’ According to NAR appeared first on RISMed

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Lofted No-Fee Studio in Prospect Heights’ P.S. 9 Annex With Tall Windows Asks $3,750

Brownstoner

As studios go, this is a grand one, with high ceilings and a giant wall of windows. Located at 279 Sterling Place in Prospect Heights, it's a genuine loft in the converted P.S. 9 Annex, now a co-op. The 1895 Romanesque Revival stunner, a school designed by James Naughton, is… Read More > The post Lofted No-Fee Studio in Prospect Heights’ P.S. 9 Annex With Tall Windows Asks $3,750 appeared first on Brownstoner.

Design 96
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Thoughts on Leadership: Reflecting on Memorial Day

RIS Media

While reflecting on the Memorial Day holiday, a time for remembrance and reverence, I am compelled to share a story that deeply moved me. It’s a tale that isn’t mine but one that resonates with the themes of leadership and sacrifice. Recently, I revisited a powerful talk from TED 2016, where Wes Moore—a former U.S.… The post Thoughts on Leadership: Reflecting on Memorial Day appeared first on RISMedia.

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Images of Jennifer Lopez and Ben Affleck’s home reappear on Zillow

Inman

Previously unavailable images of the celebrity couple's $60 million Beverly Hills abode were uploaded to Zillow on June 1 and June 5.

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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.