Housing Wire
MAY 6, 2022
Two significant things happened on Friday: the Bureau of Labor Statistics reported that the U.S. created 428,000 jobs in April, and I had to raise another recession red flag. First, let’s look at the jobs picture. string of positive job revisions we’ve seen this year ended with a negative 39,000 print; however, the job report was solid and continued the trend of good reports in 2022.
Keeping Current Matters
MAY 6, 2022
Some Highlights. What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Connect with a local real estate professional so you can make your best move this year.
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Housing Wire
MAY 6, 2022
Add Guild Mortgage to the list of lenders with profitability propelled by the servicing portfolio in the first quarter — a trend that will continue in the coming months, as pressure on origination margins will remain, executives believe. The California-based nonbank mortgage lender reported a $208 million net income from January to March, an increase of 393% quarter over quarter and 29% year over year. “Origination volumes and gain on sale margins were compressed compared to prior quarters
Coldwell Banker
MAY 6, 2022
Nothing says summer like the smell of barbeque in the air. And there’s nothing better than a backyard gathering of friends and family while the hamburgers, brats and ribs are smoking away. Grilling has become both a favorite pastime and a lifestyle for many, and with so many heating and fuel source options, it’s easy […]. The post Grilling Up For Summer appeared first on Coldwell Banker Blue Matter.
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Housing Wire
MAY 6, 2022
Despite rising interest rates and fears of an economic downturn , job growth in the U.S. had another strong month in April. The U.S. jobs report , released Friday, showed that a total of 428,000 nonfarm payroll jobs were added in April. In addition, employment in the construction industry is now 21,000 jobs above its pre-pandemic level after the sector added 2,000 jobs.
GeekEstate
MAY 6, 2022
The GEM is a private community built for those in the PropTech industry (companies centered around those who use technology and software to assist in today’s real estate needs). We provide a space for 525 industry leaders and influencers to connect, and also share sourced information, opinions, and articles. We are looking for someone to own the execution of our members-only email campaigns (2x per week), marketing campaigns, and social media (Twitter, LinkedIn, Facebook).
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Eye on Housing
MAY 6, 2022
Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6%. The April’s data indicate that the labor market remained healthy despite surging inflation, tighter financial conditions, and the war in Ukraine. Construction industry employment (both residential and non-residential) totaled 7.6 million and has returned to its February 2020 level.
Housing Wire
MAY 6, 2022
California-based nonbank mortgage lender Pennymac Financial Services ’ net income dropped more than 50% in the first quarter from the same period in 2021, driven by lower profits from its production segment due to surging mortgage rates and a shrinking origination market. However, the company still reported a pretax net income of $234.5 million in the first quarter, essentially unchanged from the prior quarter.
The American Genius for Real Estate
MAY 6, 2022
(BUSINESS) Failed transactions can be a tremendous source of learning for any level of real estate professional, so they know what not to do next time. The post 6 learned lessons from failed transactions that may save your next deal appeared first on The American Genius Real Estate.
Housing Wire
MAY 6, 2022
In an effort to counter margin compression and satisfy a new generation of homebuyers, lenders are looking to offer loan options that better fit the average borrower. HousingWire recently spoke with John Keratsis, President and CEO of Deephaven Mortgage, about the potential benefits of non-QM lending in today’s tight housing market. HousingWire: In today’s tight market, margin compression is impacting countless mortgage companies.
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.
Brownstoner
MAY 6, 2022
The city’s roughly 966,000 rent stabilized tenants could face an annual rent increase of up to 6 percent this year, something tenant advocates say would be extremely damaging for the many low income rent stabilized tenants still reeling from the effects of the Covid-19 pandemic. However, landlords say the increase… Read More > The post Rent Stabilized Tenants Likely to Face Rent Hikes of Up to 6 Percent Following Divisive Rent Boards Vote appeared first on Brownstoner.
Toronto Realty Blog
MAY 6, 2022
TorontoRealtyBlog. What’s that? You want to reminisce? Sure! I’m good at that… It was September of 1998 and I was in first-year university. I got my music at that time from C.D.’s. I hadn’t used a cassette in quite some time. Earlier that year, a lot of people had discovered how to purchase a C.D. from a music store, take it home, copy the files onto their computer, and then return the C.D.
Sotheby's International Real Estate
MAY 6, 2022
Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Harding Township, New Jersey | Anthony Verducci & Susan Parsells, Prominent Properties Sotheby’s International Realty . New York practice Gwathmey Siegel Kaufman renovated the Guggenheim Museum, and you can see the resemblance with this 14,000-square-foot modern showpiece they designed on nearly 16 private acres in Harding Township.
The Mortgage Report
MAY 6, 2022
A complete list of VA minimum property requirements (MPRs). Find out if the home you're buying will be approved for a VA loan.
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RIS Media
MAY 6, 2022
The National Association of REALTORS® (NAR) can put at least one of its commission-related lawsuits in its rearview mirror. The U.S. District Court for Northern Illinois ordered to dismiss the Leeder v. The National Association of Realtors et al. antitrust case on May 2 after more than a year of both sides duking it out in court. “Although other district courts have permitted indirect purchasers to proceed with their injunctive relief claims even when the direct purchasers are seeking the
The Mortgage Report
MAY 6, 2022
Learn how to shop for a mortgage and find the lowest interest rate without hurting your credit score. Start here.
Brownstoner
MAY 6, 2022
Our picks for open houses to check out this weekend are found in Brooklyn Heights, Carroll Gardens, Crown Heights and Ocean Hill. They range in price from $1.29 million to $13.75 million. This circa 1870s Anglo Italianate brownstone in the Brooklyn Heights Historic District has a corner location for good… Read More > The post A Carroll Gardens Brownstone With Fancy Plaster and Three More to See, Starting at $1.29 Million appeared first on Brownstoner.
RIS Media
MAY 6, 2022
Are you looking for a house to rent? Whether you are moving to a new city or want to shake up your current living situation, our guide will help you land a home you’ll love. You can take a few options when trying to score a rental property. Do it on your own or work with a real estate agent. It’s important to know that not all real estate agents work in the rental end of the business, so you’ll want to find someone interested in rental clients.
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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.
Brownstoner
MAY 6, 2022
In the News Brooklyn Man Who Languished in Prison Wins $10.5 Million [NYT] In New York, Every Borough Is a Comic Book Destination [NYT] Jubilant Commuters Celebrate Quiet Reopening of Clark St. Subway [Eagle] 'Jane's Carousel Day' to Commemorate Attraction's 100th Birthday [Eagle] Brooklynites Raise Funds for the 155th Annual Memorial Day Parade [BP] Sunset Park… Read More > The post Daily Links: Brooklyn Heights’ Revamped Clark Street Subway Station Opens appeared first on Brown
RIS Media
MAY 6, 2022
Knowing how to make a good first impression can take you far, especially when it comes to your career. While great marketing can pique interest, it’s your first impression that will determine whether you’ve found a new client. And making a good first impression is precisely what listing appointments are for. These introductory meetings are your opportunity to build trust, demonstrate expertise, and hopefully land a client that you’re excited to work with.
The Mortgage Report
MAY 6, 2022
Today’s mortgage and refinance rates Average mortgage rates jumped yesterday, hitting a new 13-year high. It’s looking like markets are rethinking their responses to the Federal Reserve’s announcements on Wednesday. […].
RIS Media
MAY 6, 2022
A quick look at the U.S. housing market earlier this winter indicated some cooling from the early days of the pandemic. In February, the National Association of REALTORS® (NAR) reported that existing home sales were down 7.2%. This came on the heels of a 5.7% month-over-month drop in January, as limited inventory and rising mortgage rates continued to hamstring affordability.
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Realty Biz
MAY 6, 2022
It’s no secret that the city of Austin, TX has been rapidly ascending in recent years. Texas has seen a huge influx of new residents, and no other Texas metro has seen a bigger population boom than Austin. As a result, last year Austin tallied the 4th largest increase in median sales price and the 7th largest average rent increase out of the top 100 metros in the US.
RIS Media
MAY 6, 2022
The National Association of REALTORS® (NAR) has recently completed its long-running “Generational Trends” survey to provide intriguing information on the trends impacting home buyers and sellers by generation. Seeing how different generations approach the home buying process can help real estate agents better serve these clients and tap into these trends.
Notorious ROB
MAY 6, 2022
Inman has the story : The 1.5 million members of the National Association of Realtors will see a $10 increase in their yearly bill from the trade group next year for its consumer advertising campaign. The trade group’s special assessment for the ad campaign started as $15 in 1999, went to $20 in 2002, $30 in 2007 and $35 in 2009, remaining unchanged since then. … “With escalating media costs paired with emerging media channels, and an increasingly crowded real estate category, the commit
RIS Media
MAY 6, 2022
While rising interest rates are posing a risk to economic growth, NAR Chief Economist Lawrence Yun expects the commercial market to perform well despite the headwinds, especially in the short term. During the 2022 REALTORS ® Legislative Meetings’ Commercial Economic Issues and Trends Forum , Yun explained that while the commercial market generally follows the overall economy, some things are different this time.
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Notorious ROB
MAY 6, 2022
[NOTE: I am long OPEN, and have been for a while as the self-proclaimed Biggest Bull on Market Making iBuying in the World.]. I’m working on a far more in-depth look at Opendoor’s amazing Q1 results. But I had to get this off my chest. Opendoor’s stock performance is proof that Wall Street simply doesn’t understand American residential real estate and how it works and doesn’t work.
RIS Media
MAY 6, 2022
Online loan marketplace LendingTree saw its stock jump after it defied headwinds to meet projections in its Q1 earnings report yesterday, even as the broader refinance and mortgage markets have been weighed down by inflation and rising interest rates. With consolidated revenue of $283.2 million, a $10.8 million net loss and a 33% year-over-year decrease in its mortgage segment, LendingTree definitely was hit by the crunch in mortgage rates and home inventory, with CEO and chair Doug Lebda specif
McKissock
MAY 6, 2022
New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. It requires more work, so you want to be sure that you are charging for your effort. However, perhaps more than that, you want to be sure you’re following the proper protocol.
RIS Media
MAY 6, 2022
From surging home prices and inventory shortages to elevated inflation adding to the mix, no one could’ve predicted how the housing market or U.S. economy would rebound from the pandemic. As those changes continue to impact the real estate and economic markets, experts offered their insight into the future during the Urban Land Institute’s (ULI) 2022 Spring Real Estate Economic Forecast virtual webinar on May 4. “I think uncertainty is probably the biggest thing that has change
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