Fri.Jul 08, 2022

article thumbnail

What does another good job report mean for a recession?

Housing Wire

What does it mean to get a positive job report with all the talk about a recession, which ramped up starting in January 2022? Let’s look at the U.S. jobs and economic numbers as five of my six recession red flags are up today. The June data shows that we added another 372,000 jobs as we get closer to the employment numbers before COVID-19. We did have 74,000 negative revisions to the previous reports, however, the internals of this jobs report is the most interesting aspect.

article thumbnail

List-Price Wrongness

BubbleInfo

We keep hearing about price reductions, but it’s a miracle that the list pricing isn’t worse! Consider: We’ve had a strong seller’s market for 10-12 years – would we recognize anything else, let alone know what to do with it? There is no guidance or formula for buyers, sellers, and agents to determine the right […].

Agents 105
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ex-workers sue Sprout Mortgage over unpaid salaries

Housing Wire

Just two days after it abruptly shut down its operations, non-QM lender Sprout Mortgage became the target of a class-action-seeking lawsuit. Two former employees are suing the Long Island-based Sprout, its affiliated company Recovco Mortgage Management LLC and chief executive officer Michael Strauss, alleging they laid off around 100 employees at the New York office on Wednesday without giving legally required written notice and failed to pay their paychecks due the following day.

Mortgages 424
article thumbnail

Mortgage and refinance rates today, July 8, 2022

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates rose again yesterday. Of course, they remain way lower than their mid-June highs. But they’re higher than they’ve been in a week, […].

Mortgages 105
article thumbnail

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.

article thumbnail

FHA gives borrowers flexibility to combat “unnecessary” effects of COVID-19 pandemic

Housing Wire

The Federal Housing Administration (FHA) is making it easier for homebuyers financially affected by COVID-19 to qualify for a loan. The administration told lenders Thursday it will grant underwriting flexibility in cases in which a borrower experienced a gap in employment or a reduction of income as a result of the pandemic — but has since financially recovered.

Loans 393

More Trending

article thumbnail

Opinion: Can tech de-risk the mortgage servicing space?

Housing Wire

There is unquestionably a need for regulatory innovation across the broader mortgage industry, but none more pressing than de-risking the mortgage servicing space. Broad lessons were learned on how to curb predatory lending practices following the subprime mortgage crisis. Yet, financial stress exacerbated by COVID-19 put millions of households on uneasy footing, again.

Mortgages 402
article thumbnail

Solid Job Gains in June

Eye on Housing

Despite interest rate hikes, job growth remained solid in June. Total nonfarm payroll employment increased by 372,000 and the unemployment rate remained at 3.6% in June. Construction industry employment (both residential and non-residential) totaled 7.7 million and has exceeded its February 2020 level. In June, residential construction lost 4,100 jobs, and non-residential construction added 16,500 jobs.

article thumbnail

US jobs report: Construction unemployment low but job creation slows

Housing Wire

Job growth in the U.S. had another strong month in June and the overall unemployment rate held steady, defying rising interest rates and fears of an impending recession. The construction sector, meanwhile, had only a slight gain, according to the U.S. jobs report , released Friday. The report showed a total of 372,000 nonfarm payroll jobs were added in June, compared to 384,000 in May.

article thumbnail

Are Your Condo Fees Going Up?

Dwell Real Estate

Florida Condos Start to See Impact of Surfside Collapse By Kimberly Miller The tragedy rattled a Fla. insurance industry that was already struggling. One Palm Beach condo complex expected a 25% increase – but coverage rose by 82%. WEST PALM BEACH, Fla. – The specter of Champlain Towers South came in an email alert this month for residents of a West Palm Beach waterside condominium.

article thumbnail

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.

article thumbnail

Bay Ridge Bungalow With Garage and Three Other Open Houses to See, Starting at $1.1 Million

Brownstoner

Our picks for open houses to check out this weekend are found in Clinton Hill, Prospect Lefferts Gardens, Bay Ridge and Midwood. They range in price from $1.1 million to $1.885 million. In Clinton Hill, a pre-Civil War Greek Revival-Italianate-Gothic hybrid has seen hard use but may hide some salvageable surprises… Read More > The post Bay Ridge Bungalow With Garage and Three Other Open Houses to See, Starting at $1.1 Million appeared first on Brownstoner.

article thumbnail

Luxury Real Estate Headlines: First Week of July 2022

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Truckee, California | Katherina Haug, Sierra Sotheby’s International Realty. For the past two decades, San Francisco designer Holly Hollenbeck’s projects have been seamlessly embracing both the classic and the most modern elements of design, and her Little Owl A-frame getaway—named after the tiny Whet-Saw owls that populate the woods—in Truckee is no exception.

Design 90
article thumbnail

June TRREB Stats: Two Steps Forward, Two Steps Back

Toronto Realty Blog

TorontoRealtyBlog. Do you remember my story about the January TRREB stats, and how in the first week of February, agents were all waiting with bated breath to find out what the ‘new’ average home price was? And do you recall my telling a similar version of this story one month later? In both cases, I can say, “We knew the stats would be crazy , but we didn’t realize just how crazy they’d be.” Well folks, the same can now be said of the June TRREB stats, only

Sales 88
article thumbnail

Locals, Pols Ask AG to Save Historic Greenpoint Building Listed for $4.5 Million

Brownstoner

On Thursday, June 30, about a dozen people were gathered on the steps of Park Church Co-Op in Greenpoint. It was the church’s last ever day of operation, and congregants and supporters were discussing next steps as they fight to, somehow, keep the church and its community alive. “There’s a lot… Read More > The post Locals, Pols Ask AG to Save Historic Greenpoint Building Listed for $4.5 Million appeared first on Brownstoner.

article thumbnail

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.

article thumbnail

How to Launch a Killer Personal Brand in Real Estate

Agent Fire

Personal branding in real estate starts with getting to know you. Ask yourself the right questions at the beginning and you'll build a stable brand for years to come. How to Launch a Killer Personal Brand in Real Estate is just one of many great real estate strategies on The Spark.

article thumbnail

Opinion: This market is filled with opportunities for agents

Real Trends

As a real estate industry, we are living through interesting times. We are being forced to defend against three challenges, or what I call the three I’s — inventory, interest rates, and inflation. It’s not all doom and gloom; however, and there are opportunities available for those who persevere. I am hearing more agents across the country suggest we are now in a buyer’s market.

Agents 78
article thumbnail

What You Need To Know About Moving To Brampton

Realty Biz

Brampton is one of the preferred choices of Canadians when they decide to move to big cities, mainly because the city is constantly evolving. Whether you want to move alone or with your family, you will find many Brampton houses for sale , and one of them might very well be your dream home! Housing in Brampton. When you decide to buy a home in Brampton, you should expect to pay considerably less than in downtown Toronto or Vancouver, BC.

article thumbnail

Daily Links: City’s 43,000 Vacant Rent-Stabilized Units Could House All Homeless New Yorkers

Brownstoner

In the News How a Long-Sought Bill Could Make Construction Work Less Deadly [NYT] The Thirst for Merch at Brooklyn Museum [NYT] DOE Accused of ‘Poor Planning’ of ‘Summer Rising’ Program [NYP] Zendaya and Tom Holland Spotted Eyeing $5.35 Million Brooklyn Home [NYP] Shoplifting Ring Wreaks Havoc in Brooklyn Heights: Merchants [Eagle] Annual Giglio Feast Makes… Read More > The post Daily Links: City’s 43,000 Vacant Rent-Stabilized Units Could House All Homeless New Yorkers appeared

article thumbnail

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.

article thumbnail

Mortgage demand falls again, despite slight interest rate drop

Realty Biz

Although mortgage rates fell for a second successive week, it wasn’t enough to prompt more demand from potential buyers. The Mortgage Bankers Association reported that mortgage rates fell 10 basis points last week and are now down 24 points over the past two weeks. However, demand for mortgages fell 5.4% last week. The MBA said the average contract interest rate for a 30-year fixed-rate mortgage with a conforming loan balance of $647,200 or less fell from 5.84% to 5.74% last week.

article thumbnail

HW+ Member Spotlight: Rogers Healy

Housing Wire

This week’s HW+ member spotlight features Rogers Healy, Owner and CEO, at Rogers Healy and Associates. Below, Healy answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why? Rogers Healy: This is my favorite article because it accurately outlines how the housing market is not the only factor in a recession.

MLS 76
article thumbnail

What Does Under Contract Mean in Real Estate?

Mashvisor

As a real estate investor, you may occasionally bump into the term “under contract.” But what does the term mean in real estate investing?

article thumbnail

The Difference Between a Real Estate Agent and a Mortgage Broker

Windemere Buying

Throughout the course of buying a home, you’ll work with a variety of professionals, all with specific training to help you through each stage of the process. With such a cast of specialists around you, it’s helpful to know everyone’s responsibilities and which questions to ask whom. One important distinction to be made is the difference between your real estate agent and your mortgage broker.

Agents 52
article thumbnail

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.

article thumbnail

Apartment Reviews

Yardi Marketing

Online apartment reviews are an important way for potential renters to get a feel for your community, and it’s critical to have them on your website. In addition, reviews directly impact how your website appears in a search. In fact, it’s estimated that reviews account for 17% of the ranking factor for the Google 3-pack of local listings ! A June 2022 survey from RentCafe.com revealed that over 60% of Gen Z renters consider ratings and reviews most of the time when searching online.

article thumbnail

Real Estate Express Review + Video Walk-through

The Close

There’s no argument that Real Estate Express is a market leader in online real estate education. It continues to pave the way in quality online education content and courses are available in almost every state. But is Real Estate Express the best real estate education company in the business? And perhaps more importantly, is it right for you? In our Real Estate Express review, we’re going to take a close look at what Real Estate Express offers, discuss the pros and cons of the platform, and peek

Closing 52
article thumbnail

Jackson Hole team leader on hiring agents with drive

Real Trends

Despite growing up in the real estate industry, Collin Vaughn, a founding member of the Huff/Vaughn/Sassi team based out of Jackson Hole Sotheby’s International Realty , originally wanted to be a doctor. “I was headed in a totally different direction,” he said. “I was heading toward medicine, but I decided I didn’t like that for the long-term. I could do a surgery, but I didn’t have the best bedside manner, so I looked for something else and ended up getting into finance and real estate.”.

Agents 52
article thumbnail

World-Wide Ice Cream Tour

BubbleInfo

One of our YouTube watchers suggested that in celebration of the big sale in La Jolla, I should go treat myself to an ice cream. I agreed!

Sales 52
article thumbnail

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.