Thu.Nov 03, 2022

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The great mortgage bank consolidation wave is underway

Housing Wire

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers or failures in the wake of the double whammy of still-rising inflation and interest rates.

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Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

Keeping Current Matters

It turns out, millennials aren’t the renter generation after all.

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Mr. Cooper makes its biggest job cut yet

Housing Wire

Retail lender and servicer Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. “In the face of market volatility and economic uncertainty, Mr. Cooper Group has taken a disciplined and proactive step to scale back the Originations business, including the elimination of approximately 800 positions,” the company said in a statement. “By aligning our originations operations to the s

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Crown Heights Landlord Harassment, ‘A Living Hell,’ Includes Sewage, Drug Deals: Lawsuit

Brownstoner

Over the past six months, 76-year-old Park Place tenant Francis Roberts says he has had sewage bubbling up through his kitchen sink due to broken plumbing and more leaking in front of his bedroom windows from two portable toilets set up outside. He alleges drug deals have taken place in… Read More > The post Crown Heights Landlord Harassment, ‘A Living Hell,’ Includes Sewage, Drug Deals: Lawsuit appeared first on Brownstoner.

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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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Rocket reports financial loss as production slumps in Q3

Housing Wire

Rocket Companies , the parent of Rocket Mortgage , lost money in the third quarter and also appears to have lost its title as America’s largest mortgage originator. Rocket originated $25.6 billion in mortgage volume in the third quarter , which was 71% lower than the $88 billion in volume it produced in the same period last year, when refinancing business was still plentiful.

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FoA Mortgage’s shutdown brightens the prospects of a small Indiana lender

Housing Wire

A team of more than 60 mortgage bankers at now-defunct Finance of America Mortgage has landed at Hallmark Home Mortgage. The retail team covers the states of Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas. Marc Wadman will continue to lead the group as Hallmark’s senior vice president/regional manager. “Hallmark is now positioned to become one of the nation’s top 100 residential mortgage lenders,” said founder and CEO Deborah Sturges in a stateme

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The Secret to Starting Part-Time Until You Can Become a Full-Time Real Estate Agent

Lighter Side of Real Estate

If you’ve been wondering if you can start out as a real estate agent part-time until you can get enough business to go full time, the short answer is yes you can. However, you’ll probably also hear that you can’t (or shouldn’t) from people within the industry. Real estate brokers, managers, trainers, gurus, and agents alike will invariably tell you that in order to succeed, you really need to do it full-time.

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Clear Your Space; Clear Your Path

Tom Ferry

With the year we’ve just had, it’s understandable why anyone in this industry would be tired. But instead of slowing down, we know that now’s the time to be getting serious, crafting our business plans and putting in the work to have business lined up for the new year. Question is, where are you going […]. The post Clear Your Space; Clear Your Path appeared first on Tom Ferry.

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Opendoor opens its ‘Exclusives’ platform to home sellers

Real Trends

Just three months after officially launching Opendoor Exclusives , an online platform for homebuyers to browse and buy properties being sold by the iBuyer, the company has announced that it will be opening the platform to home sellers as well. As the platform functions now, the homes being sold by Opendoor are available to any consumer through the Opendoor Exclusives platform 14 days prior to the home being listed on the local multiple listing service.

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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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Coldwell Banker Dream Campaign Wins 2022 Marcom Platinum Award

Coldwell Banker

MarCom Awards recognize outstanding achievement by creative professionals involved in the concept, direction, design and production of marketing and communication materials and programs. The post Coldwell Banker Dream Campaign Wins 2022 Marcom Platinum Award appeared first on Coldwell Banker Blue Matter.

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Rents Start to Reverse: Could Cash Flow Get Cut Off?

Bigger Pockets

Landlords got used to rent prices growing every month. As home prices rose and affordability shrank, more landlords took steps to secure their cash flow by increasing rents by sometimes […].

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Moving Into a Previously Owned Home? Here’s Some Equipment You May Need to Replace

RISMedia

By Hannah Whittenly When you move into a home that has been previously occupied, some of the items and equipment may be outdated, or in need of repair or replacement. To ensure your home is safe and running smoothly, and guarantee you don’t end up in a money pit, here is some of the equipment […]. The post Moving Into a Previously Owned Home? Here’s Some Equipment You May Need to Replace appeared first on RISMedia's Housecall.

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Open House | Inside a LEED Certified Beachfront Estate

Sotheby's International Real Estate

Scott Carvill – Carvill Sotheby’s International Realty. Located about 2,500 miles from the U.S. mainland, Hawaii’s remote location makes it the ideal escape from the pace and pressures of ordinary life. Each year, tourists clamor at the chance to experience the verdant landscape, vibrant flowers, white-sand beaches, and balmy temperatures in efforts to replenish the mind, body, and soul.

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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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Unpopular Opinion: Owning Your Own Properties Is Overrated

Bigger Pockets

By now, you’ve heard about how real estate is a great way to build wealth. I don’t disagree with that. However, before getting started, you should also consider the downsides […].

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Renovated Park Slope Rental With in-Unit Laundry, Private Roof Deck Asks $3,250 a Month

Brownstoner

You will get your steps in reaching this fifth floor walk-up, and when you reach the photogenic abode another flight up leads to a private roof deck. In the self-managed co-op at 846 President Street, the one-bedroom unit was renovated with an all-white kitchen, a skylight to bring in more… Read More > The post Renovated Park Slope Rental With in-Unit Laundry, Private Roof Deck Asks $3,250 a Month appeared first on Brownstoner.

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Why We Turned Down a 5% Rate Mortgage | Mindy & Carl’s Budget Review

Bigger Pockets

Margin loans, medium-term rentals, and potential mortgage rate mistakes summarize what Carl and Mindy have been up to over the past couple of months. It’s been a minute since we’ve […].

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Bushwick’s Linden Street Could Be Area’s First Historic District Following LPC Vote

Brownstoner

Bushwick could be in for its first historic district following a unanimous vote by the Landmarks Preservation Commission to calendar a row of 32 brick and brownstone houses lining Linden Street, between Broadway and Bushwick Avenue. At a Tuesday meeting, commissioners heard from LPC researcher Marianne Hurley how the “remarkably intact… Read More > The post Bushwick’s Linden Street Could Be Area’s First Historic District Following LPC Vote appeared first on Brownstoner.

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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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BIM and Digital Twins: Getting Beyond the Hype

GeekEstate

[Editor’s note: Originally published here.]. It’s a common misconception that Building Information Modeling (BIM) is synonymous with the term Digital Twins. In many cases, BIM is considered a part of the construction process, while the concept of Digital Twins suggests real-time data visualization of maintenance and operations. Digital Twin has become a buzzword for any type of digital representation, but this is not entirely true.

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5 Best Real Estate Schools in Mississippi for 2022

The Close

Are you ready to launch a real estate career in Mississippi? If so, you’ll start by completing a 60-hour prelicensing course from one of the many accredited real estate schools in Mississippi. You’ll be ready to sit for your license exam in as little as three weeks! Before long, you’ll be exploring a new career in the Magnolia state.

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Encinitas Gated Culdesac 4-Car

BubbleInfo

This home listed for $3,595,000 but didn’t have any takers over the first five weeks. They ‘refreshed’ the listing (let it expire and then relisted as a new listing), with a lower price of $3,445,000 – a discount of 4%. They found the buyer a week later who paid $3,400,000 cash. I’m not sure if […].

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Northrop Realty Opens New Office in Frederick County, Maryland

Realty Biz

Northrop Realty, a residential and commercial real estate brokerage, is opening a new office location in Frederick County, Maryland, to accommodate the increased development, population, and client demand for this area. The new 1,600 square-foot location at 3546 Washington Blvd, Frederick, Maryland, is centrally located in an area known as the villages of Urbana, Worthington Square, a new version of small-town America.

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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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Homebuilders Expecting Downturn in the Real Estate Market in 2023

Mashvisor

If you’re not yet aware of recent market news, home prices are cooling down. As a result, homebuilders expect a similar market slowdown in 2023.

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Daily Links: Stretch of Northwest Brooklyn May Get Thousands of New Trees in the Next Four Years

Brownstoner

In the News As Housing Costs Soar, Co-Living Makes a Comeback [NYT] These Cakes Have Thorns [NYT] Mackenzie Scott Gives $11 Million to a Brooklyn School [BK Mag] 15th Annual Bushwick Film Festival Returns [BK Reader] Good News for Bushwick Vegans [Bushwick Daily] A Prospect Heights Barbecue Joint Reopens After Burning Down [Eater] Go Inside Flatbush’s Famous… Read More > The post Daily Links: Stretch of Northwest Brooklyn May Get Thousands of New Trees in the Next Four Years appeared f

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6 Essential Tips to Consider When Choosing a Roommate

Redfin

Whether you’re renting an apartment in Baltimore or saving for your first house in Tacoma, WA , sharing a house or apartment with roommates is a great way to mitigate living costs. However, choosing the wrong roommates can make you question if the savings are worth the headache. To prevent a dreadful situation, keep these tips in mind when choosing a roommate. 1.

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Asian Giant Hornets and Your Home, 6 Things to Know

Louisville Homes

Asian giant hornets are the largest species of hornet around. Sometimes called the ‘Murder Hornet’, they primarily live in South Korea, Japan, and Taiwan, among other Asian countries. But recently they were found in the US. Should you be concerned? While still quite rare in the US, Asian giant hornets are still quite dangerous. These hornets are aggressive hunters.

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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.