Mon.Aug 15, 2022

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Ask Brian: What is Title Insurance and Why Do I Need It?

Realty Biz

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com. Question from Patti in GA: Hi Brian, Why is the paperwork to buy a house so lengthy and confusing? I’m buying my first house and a friend told me that I’ll spend a couple of hours at the closing signing a pile of papers that I probably won’t understand much about.

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HELOCs are now “raging back”

Housing Wire

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing.

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The U.S. Homeownership Rate Is Growing

Keeping Current Matters

The desire to own a home is still strong today.

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Blend takes a $478M loss, cuts 25% of its workforce

Housing Wire

Blend Labs executives say they are being conservative in managing the company after recording a massive financial loss in the second quarter of 2022. . The California-based mortgage tech company plans to reduce costs, including cutting 25% of its workforce, and will focus on products with a higher return on investment amid an extreme market downturn.

Banks 381
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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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Building Materials Prices Increase in July as Concrete Surges

Eye on Housing

The prices of building materials rose 0.4% in July (not seasonally adjusted) even as softwood lumber prices increased 2.3%, according to the latest Producer Price Index (PPI) report. Prices have surged 35.7% since January 2020, although 80% of the increase has occurred since January 2021. The PPI for goods inputs to residential construction, including energy, decreased 1.2% as the prices of.

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Sotheby’s International Realty Expands in Michigan

Sotheby's International Real Estate

Sotheby’s International Realty today announced the opening of Great Lakes Sotheby’s International Realty, signifying the brand’s continued growth in the state of Michigan. The addition marks the brand’s seventh office in the state. Great Lakes Sotheby’s International Realty is owned and operated by Dean Groulx and Wendy Groulx, who bring more than 60 years of collective experience to the company.

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Steps to win with non-QM for a strong second half of 2022

Housing Wire

Non-QM is an ideal way to protect your volume and referral base, especially in times when the market is volatile. Non-QM is increasingly important as its share of overall volume continues to rise as more borrowers need it to qualify for a loan. Originators utilizing non-QM with Angel Oak have added loans to their books they would not have had otherwise.

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Inventory Watch

BubbleInfo

There was a nice bump of 17 additional pendings in the past week, from 151 to 168. The biggest increase was in the $4,000,000+ category, which grew from 24 to 32 pendings! There are two pendings priced at $10,000,000+, and 51 active listings! It doesn’t look like there will be much more change in the […].

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Mortgage forbearance rate continued to decline in July

Housing Wire

Servicers’ forbearance portfolio volume descended in July since mortgage forbearance rate dropped below 1% in April. The total number of loans decreased one basis point to 0.34%, according to Mortgage Bankers Association (MBA). The mortgage forbearance rate on a declining trend is positive news after the economic impacts of the pandemic hit borrowers hard.

Mortgages 370
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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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The Promise Land: Rapper Rick Ross’ house in Atlanta is a 109-room beast of a mansion

Fancy Pants Homes

Rapper Rick Ross is a certified hustler. From building his brands to investing in real estate, he definitely knows how to hustle his way to the top. Back in 2006, Ross released his breakthrough hit Hustlin’ , which quickly climbed the Billboard charts and helped him skyrocket to fame. Fifteen years after his debut album was released, he is now one of the richest rappers alive, with a net worth that’s estimated to be around $45 million.

Land 105
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Fannie Mae appoints Cissy Yang as chief audit executive

Housing Wire

Fannie Mae has appointed Cissy Yang as senior vice president and chief audit executive, taking over for J. Douglas Watt, who will retire in November. Yan’s appointment is effective as of September 12. As chief audit executive, Yang will be responsible for leading the company’s audit strategy, including internal controls, operational processes and risk assessments.

Banks 370
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Real Estate Market Challenges (Let’s talk about vacation homes and second mortgages)

Easy Agent Pro

Imagine a science-fiction movie – or computer program – designed to model behavior when changes are introduced. The Matrix, The 13th Floor, and A Sound of Thunder, are but a few of several such examples where a small historical change gave rise to significant future consequences. And now you’re a programmer interested in seeing how people will react economically to a health crisis.

Mortgages 102
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What Does a Modular Home Cost to Build: Pricing Explained

Maximum Exposure Real Estate

Pricing on Modular Homes Explained If you are considering a new construction, modular homes are an option. Also known as a prefab home, It is a type of property that is becoming increasingly popular, and for good reason. Modular home pricing is often less than less traditional construction. But prefabricated properties are not a new […]. The post What Does a Modular Home Cost to Build: Pricing Explained appeared first on Maximum Real Estate Exposure.

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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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How Smart Homes Increase Your Home Security

Realty Biz

Believe it or not, over a million home burglaries occur every year. When scoping out a house to steal from, burglars look for easy targets. They break into houses when people are at work or on vacation. But most importantly, they look for residences that don’t have home security. Because the last thing a burglar wants is to run into a smart home.

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Catching A Falling Knife

Toronto Realty Blog

TorontoRealtyBlog. The term itself doesn’t sound all that pleasant, or safe. But then again, I guess it depends on how sharp the knife is? “ Catch A Falling Knife” Most people know this idiom, however, it has different meanings to different people. Some consider this to mean “buying a risky investment.” I wouldn’t agree.

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How To Spot A Trustworthy HVAC Service Provider

Realty Biz

Owning a cooling and heating system requires regular maintenance to ensure efficiency and extend its useful life. To achieve this, you need professional technicians to care for your heating, ventilation, and air conditioning (HVAC) needs. But how can you find trustworthy technicians who won’t con you because you don’t understand much about HVAC systems?

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Repairs You’ll Need to Take Care of After Moving Into an Old Home

RISMedia

By Emma Sturgis The first thing you'll need to do when moving into an old home is to check for any repairs that need to be made. This includes both major and minor repairs. Significant repairs could include fixing a leaky roof or repairing a broken foundation. Minor repairs could involve fixing a loose doorknob […]. The post Repairs You’ll Need to Take Care of After Moving Into an Old Home appeared first on RISMedia's Housecall.

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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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Dar Al Arkan Partners With Top Designers for Luxury Living Spaces

Realty Biz

Saudi property development company Dar Al Arkan is growing its presence in eight countries after earning a reputation for creating opulent, comfortable living spaces. Currently, co-branding is one of the biggest trends in luxury living, which is why Dar Al Arkan is partnering with some of the most famous names in high fashion: Versace, Missoni, Elie Saab, and Pagani.

Design 77
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Number of Seniors is Growing

BubbleInfo

It’s probably true that seniors are leading healthier, longer lives and will prefer to age-in-place – which will keep a limit on the number of homes for sale and temper any downdraft in pricing. What is worse is that the resulting back-up will cause others to stay in their current home forever too! It was […].

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How to Become a Top Realtor In Your Local Real Estate Market

Realty Biz

If you are looking for more success as a realtor, this guide can help. Here is a guide on how to become a top realtor in your local real estate market. Did you know that a record number of real estate licenses were issued between January 2021 and January 2022, according to the National Association of Realtors (NAR)? That’s because, during the pandemic, many restaurants, and other businesses closed down, resulting in folks searching for a new way to make a living.

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‘Remarkably Cohesive’ Prospect Lefferts Gardens Rows With Kinko Houses Calendared by Landmarks

Brownstoner

Last week, two rows of 38 homes along Prospect Lefferts Gardens’ Parkside Avenue, including 20 Kinko style two-families, were calendared by the city’s Landmarks Preservation Commission for possible historic district designation. The unanimous vote came after locals petitioned the agency to landmark the more than 100-year-old homes that sit between Flatbush… Read More > The post ‘Remarkably Cohesive’ Prospect Lefferts Gardens Rows With Kinko Houses Calendared by Landmarks appeared first

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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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Should I Buy a Vacation Rental Property in 2023?

Mashvisor

The travel landscape is changing, and real estate investors are asking, “should I buy a vacation rental property in 2023?” This guide will help.

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Check Out Some Tunes With the New Brooklyn Public Library Vinyl Collection

Brownstoner

The audiophile community is rejoicing after the Brooklyn Public Library announced this week the launch of a new vinyl collection, which patrons can either experience at listening stations or check out to take it all in at home. Visitors to BPL’s Central Branch at Grand Army Plaza can peruse the library’s… Read More > The post Check Out Some Tunes With the New Brooklyn Public Library Vinyl Collection appeared first on Brownstoner.

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10 Eco-Friendly Flooring Options: Step into a Greener Home

Redfin

As a homeowner, you want to make your home the best place it can be. And with climate change affecting everyone, including homeowners, it’s essential to consider more eco-friendly options when updating your house. From painting with zero-VOC paint to installing solar panels, another green home update to consider is eco-friendly flooring. So before you embark on a flooring remodel, we’ll outline 10 eco-friendly flooring options to consider in place of traditional flooring.

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Rising Interest Rates – The Impact on Buyers and Sellers of Real Estate

Properties Online

The housing market is still competitive, but this summer hasn’t seen the same buying and selling frenzy as last year. Rising interest rates are one of the main reasons for this change in the market. The following real estate marketing tips can help you explain the effects of increasing interest rates to your sellers and buyers. Encourage… Read More » Rising Interest Rates – The Impact on Buyers and Sellers of Real Estate.

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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.