Wed.Jun 23, 2021

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What builders see in a deeply unhealthy housing market

Housing Wire

The big news from the U.S. Census Bureau’s May new home sales report is that sales inventory has increased to 5.1 months, which brings the three-month average to 4.63 months. That begins to change the equation for some homebuilders, who were absolutely thriving in an ultra-low-inventory housing market environment. . As a reminder, when the three-month average for inventory is 4.3 months or lower, builders have the confidence to continue to build.

Marketing 521
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Homeowner Wealth Increases Through Growing Equity This Year

Keeping Current Matters

Building financial wealth and stability remains one of the top reasons Americans choose to own a home, and as a homeowner, your wealth often grows without you even realizing it. In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing , author Mike Loftin illustrates how homeowners increase their equity and their wealth simply by making monthly mortgage payments: “The principal portion that reduces the loan balance builds the homeowner’s equity.

Equity 248
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FHFA Director Mark Calabria must go

Housing Wire

Mark Calabria, the director of the Federal Housing Finance Agency , must go. He is slowly but surely undermining the system he has been charged to oversee, imposing his ideological will on Fannie Mae and Freddie Mac in a way that will leave them weaker, and the housing finance system that depends on them increasingly unable to meet the critical housing needs of the nation.

Finance 545
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Can’t Get a Pool This Summer? Beat the Heat With These 6 Creative Alternatives

Realtor.com

Getty Images. Just when you thought it was safe to get back in the water—you can’t! Yup, a perfect storm has converged right when homeowners were hoping to open up (or install) a pool in their backyards this season. Since the COVID-19 lockdown forced folks to stick close to home, the desire for pools has skyrocketed. That’s created a dearth of pool-building materials and contractors who can put one in.

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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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Hundreds of Seattle homes selling for $300K over asking

Housing Wire

An astonishing 580 homes in the Seattle metro area have sold for $300,000 or more above their asking prices in 2021. That’s compared to only 16 homes during the same period in 2020. And that’s just the high end, according to the latest analysis from Redfin. The brokerage/listings portal said 4,078 homes in Seattle have sold for between $100,000 and $299,999 above asking price, compared with 362 last year.

Agents 457

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The state of the housing market for first-time homebuyers and communities of color

Housing Wire

With low housing inventory and rapid home-price growth, homeownership can seem less and less attainable for several groups of potential homebuyers. HousingWire sat down with Radian CEO Rick Thornberry to learn more about the state of the housing market and how Radian is helping further homeownership. HousingWire: What is the current state of the housing market for first-time homebuyers and communities of color?

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Frenzy Monitor

BubbleInfo

Here’s our bimonthly check on how the actives and pendings are faring. Two weeks ago it was suggested, “We were driving 135 MPH, and now we’re down to 127 MPH”. We’re probably down to 100 MPH now. For the first time in months, the total number of active and pending listings are balanced, and almost […].

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Mortgage applications rise again, despite rates jump

Housing Wire

For the second week in a row, mortgage applications increased — this time, up 2.1% for the week ending June 18, 2021, per the latest report from the Mortgage Bankers Association. The 30-year fixed mortgage rate also rose to 3.18% — the highest level in a month, according to the MBA. Purchase activity was higher for the third straight week, according to Joel Kan, MBA’s vice president of economic and industry forecasting. “Despite the jump in rates, refinances also increased for the se

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New Home Sales Fall Short of Expectations, but Dropping Lumber Prices Could Provide Breathing Room

Realtor.com

CHRIS DELMAS/AFP via Getty Images. The numbers: New home sales dropped by a larger-than-expected amount, falling to the lowest level in a year. New home sales occurred at a seasonally-adjusted annual rate of 769,000 in May, the U.S. Census Bureau reported Wednesday. The figure represented a 5.9% drop from the previous month’s revised figure, but was up 9.2% from a year ago.

Sales 116
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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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Park Slope Key Food Is Set to Close as Redevelopment Finally Moves Forward

Brownstoner

Park Slopers looking for groceries will soon have one fewer option, as the Key Food on 5th Avenue will shutter in July ahead of a long-planned redevelopment of the site, a store manager confirmed. The food emporium at 120 5th Avenue, which became a favorite for locals with cars due… Read More > The post Park Slope Key Food Is Set to Close as Redevelopment Finally Moves Forward appeared first on Brownstoner.

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InHance Interiors: A Look At a Design Olympian In the Making

Realty Biz

InHance Interiors is a high-end residential design and services firm located in Los Angeles. The firm offers design, architectural, consulting, and advising services for new or existing construction. This boutique agency aims to create a streamlined and painless process for clients. Founded by an LA entrepreneur who grew up in the business, the firm’s success stems from the founders’ evolved sense of design purpose and process.

Design 102
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Triathlon Happening This Weekend Along A1A In Jupiter and Juno Beach

Waterfront Properties

This upcoming Saturday is the annual Turtleman Triathlon is happening along the beach in Jupiter and Juno Beach. Participants will swim in the Atlantic Ocean, run through the scenic Carlin Park, and ride down the coast with a spectacular ocean view. The triathlon features two races, the Super Sprint and The Sprint. The Super Sprint includes a shorter run along the water perfect for beginners or, the Sprint includes longer running and swimming distances.

Closing 97
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Global Spotlight: Waterfront Properties Making a Splash

RIS Media

Above: Bali, Indonesia. The appeal of waterfront destinations makes beach- and lake-oriented properties among the most popular. But how has demand changed over the past year—and what are buyers seeking? We asked Leading Real Estate Companies of the World® (LeadingRE) members from waterfront locations around the globe to shed some light. Clubhouse Real Estate, LLC.

Sales 102
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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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FirstTeam Agents Tim and Karen Branoff Help Clients Secure Dream Huntington Beach Home for Record $5.35 Million

First Team Real Estate

HUNTINGTON BEACH, CA – Tim and Karen Branoff helped their client win their dream home after a much-anticipated search, representing the buyers of 4442 Oceanridge Drive in Huntington Beach closing for a record $5,350,000. The husband-and-wife team met their clients Dale Giali and Susan Westover-Giali in 2018 when they were in search of a move-up property, craving a modern build with ocean views.

Agents 96
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A Shocking Look at What We’ve Renovated During the Pandemic—and What We Paid

Realtor.com

Getty Images. There’s no better time to renovate than amid a pandemic—and according to a new report by Houzz, we’re spending more on remodeling than ever. According to the 10th annual Houzz & Home report, which polled more than 70,000 respondents on their renovation habits, our home improvement budgets ballooned by 15% over the past year—up to a median of $15,000 per household.

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Canadian Real Estate Flashes Another Bubble Warning — A Flattening Rental Curve

Better Dwelling

It’s not just Canadian home prices showing bubbly signs, but rental prices are following too. The cost of renting an apartment in the suburbs is rising much faster than in the city. Economists call this the flattening of the bid-rent curve, or rental gradient. Basically, the discount for being located further from amenities is disappearing. […].

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2 Out Of 5 Years Exemption, Revisited

BubbleInfo

The residential real estate market has no boundaries on pricing. It’s free enterprise at its finest – no laws, no restrictions, and no limit on where prices can go. We saw a dramatic example where a model-match tract home on the same street sold for $550,000 more than the last sale the month before! Many […].

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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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NAR says America’s housing stock is in a “dire situation”

Realty Biz

The National Association of Realtors has called on U.S. policymakers to do more to address the lack of stock in the nation’s housing market, saying that the situation has become “dire” and that “now is the time to act”. The NAR’s report, Housing Is Critical Infrastructure: Social and Economic Benefits of Building More Housing , highlights both the causes of housing shortages and suggests several potential solutions that could be implemented by local and federal-level policymakers.

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Mortgage and refinance rates today, June 23, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates inched higher yesterday. That makes three consecutive business days on which they’ve moved by only the smallest measurable amount: up, down and […].

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Take a Virtual Stroll Down Historic Fulton Street With the Municipal Art Society

Brownstoner

Fulton Street takes a long path through the borough, and while stretches of it in Downtown Brooklyn may be familiar, there is plenty of history to be found as it makes its way through Bed Stuy. Take a closer look at the history and architecture of the streetscape by joining Brownstoner… Read More > The post Take a Virtual Stroll Down Historic Fulton Street With the Municipal Art Society appeared first on Brownstoner.

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‘Unsellable Houses’ Reveals How To Sell a Condo for Top Dollar

Realtor.com

HGTV. Twin sisters Lyndsay Lamb and Leslie Davis , host of HGTV’s “Unsellable Houses,” are experts at renovating houses so they fetch a nice offer, but is renovating a house the same as fixing up a condo ? Not quite. In the Season 2 episode “Renewed Ocean Views,” Lamb and Davis meet with Shauna , who’s trying to sell her late mother’s old condo in Edmonds, WA.

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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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Benefits of Private Mortgage Lenders

Realty Biz

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. When looking for a mortgage broker Barrie homeowners who are having a hard time getting approved for a loan may want to consider a private mortgage lender. Here’s why. Easier to Qualify.

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How to Create an Attractive Home Listing

RISMedia

By Meghan Belnap It's time to list your home for sale. You've invested in updating and improving your home, so it should be smooth sailing from here, right? Although much of the difficult work has been completed, there is one more area that is going to need 100% of your focus: your home listing. Simply […]. The post How to Create an Attractive Home Listing appeared first on RISMedia's Housecall.

Sales 111
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Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty: BMO

Better Dwelling

Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty Canada has hundreds of thousands of unfilled jobs, despite elevated unemployment levels. BMO weighed in on the vacancy numbers, which jumped to an all-time high in Q1 2021. Robert Kavcic, the bank’s senior economist, estimates vacancies are now the size of 2.5% of […].

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Video of the Week: Take a Virtual Tour of a Truly Unique Mountain Escape in Edwards, Colorado

Sotheby's International Real Estate

Featuring curated videos from the most sought-after destinations the world over, discover this week’s V ideo of the Week. ??. Edwards, Colorado | Malia Cox Nobrega & Barbara Scrivens, LIV Sotheby’s International Realty. Casteel Creek is one of the most unique mountain experiences in the world, a destination in and of itself. With 250 acres bordering 2 million acres of National Forest, the estate bestows an ambiance of seclusion within the Rocky Mountains while, in fact, is located wit

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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.