Wed.Nov 22, 2023

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Here’s what you can expect from the 2024 housing market

Housing Wire

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec. 11 here. In a typical year, there are about 5.2 million sales of existing homes nationally and home prices rise by about 4%.

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Home Prices Still Growing – Just at a More Normal Pace

Keeping Current Matters

If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise.

Marketing 244
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Mortgage applications surge to highest level in six weeks: MBA

Housing Wire

Mortgage applications rose to their highest level in six weeks after the 30-year fixed mortgage rate fell to 7.44% last week. Total home loan applications increased 3% for the week ending Nov. 17 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). Mortgage rates for the 30-year fixed loan averaged 7.44%, falling 6 basis points in one week, according to Freddie Mac ‘s Primary Mortgage Market Survey.

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Here’s how to find the perfect fit when shopping for a CRM

Inman

Gone are the days of collecting business cards and cramming them into an overstuffed Rolodex. These days, customer relationship management (CRM) software is the tool that makes keeping client information safe and accessible.

Brokerage 189
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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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Mortgage rates continue falling before Thanksgiving: Freddie Mac

Housing Wire

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.44% and up from 6.58% the same week a year ago.

Mortgages 441

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DataDigest: How and where homebuilders are closing deals

Housing Wire

For the fourth consecutive month , homebuilder confidence sank in November, according to the National Association of Home Builders /Wells Fargo Housing Market Index published last week. The pessimistic streak is especially notable given that the fall months have recently been lucrative for builders. The index fell to 34 in November, well below the 50 mark that divides bullish and bearish sentiments.

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Homebuyers demand school data. Portals are grappling with the risks

Inman

Home-listing portals all rely on the same source for school ratings, which are treated as essential by many homebuyers. If used improperly, critics fear the data could lead to Fair Housing violations.

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Fidelity National Financial is latest victim of a cybersecurity attack

Housing Wire

Fidelity National Financial (FNF) was attacked by a “cybersecurity incident” that led the system to shut down some of its network, the company said. FNF blocked access to certain systems, which resulted in disruptions to title insurance, escrow and other title-related services, as well as mortgage transactions and technology for the real estate and mortgage industries, according to a filing with the U.S.

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Economists agree rates have peaked. But will they come down?

Inman

Two closely watched forecasts agree that mortgage rates have probably peaked, but diverge sharply on how quickly they'll come down over the next two years.

Mortgages 196
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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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Class Valuation’s CIO on solving the appraisal conundrum

Housing Wire

Editor in Chief Sarah Wheeler sat down with Scot Rose , CIO at Class Valuation , to talk about innovation in the appraisal space and how the technology being deployed for appraisal modernization can actually protect appraisers. This interview has been edited for length and clarity. Sarah Wheeler: You’re the chief innovation officer at an appraisal firm, and the appraisal space has not always been known for tech innovation.

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Like a boyfriend, the perfect lender is experienced, well-funded: Triple-I

Inman

Neither brand recognition nor the promise of lower rates were as valuable to agents as a mortgage lender's ability to reliably obtain funding, according to results from the latest Inman Intel Index.

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Fannie Mae on Q4: Existing home sales will be lowest since 2010

Housing Wire

The housing market has not hit the bottom in existing home sales yet, Fannie Mae projected. With mortgage rates having previously soared to around 8% , existing home sales will likely decline further to bottom out in early 2024. The good news is that sales will rebound as mortgage rates are expected to decline, Fannie Mae’s Economic and Strategic Research (ESR) group, said in its November commentary.

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Mr. Cooper faces slew of class action lawsuits after cyberattack

Inman

The servicer is facing five separate federal lawsuits over an Oct. 31 cyberattack that knocked out services for days and prevented borrowers from accessing their accounts or paying home loans.

Loans 180
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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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Figure hires banks for lending arm IPO: Bloomberg

Housing Wire

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. People familiar with the transaction told Bloomberg that Figure is working with Goldman Sachs Group Inc. , JP Morgan Chase & Co. and Jefferies Financial Group Inc. for the IPO.

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Century 21 CEO Mike Miedler on his ‘relentless’ pursuit of NYC in 2024

Inman

The Century 21 president and CEO spoke to Intel about his 25th anniversary with the brokerage, deploying AI to recruit agents and his plan to grow marketshare across New York City in 2024.

Brokerage 172
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Foreclosure starts rise in October but near-term risk is muted: ICE

Housing Wire

While foreclosure completions remained relatively flat in October, foreclosure starts rose to 33,000, hitting their highest level in 18 months, according to the ICE Mortgage Monitor report. In October, there were 217,000 loans in active foreclosure , up 3,000 since September. However, this remains 25% under the pre-pandemic levels. The national delinquency rate fell three basis points to 3.26% in October.

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How millennial and Gen-Z Realtors are reshaping real estate

Inman

CEO Troy Reierson offers insights gleaned from young professionals and the way they add their unique perspectives to the practice of real estate.

Agents 186
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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 a Buyer Consider a House on a Corner Lot? A Look at the Upside and Downside

RIS Media

Choosing a new home is an exciting and significant decision in one’s life. One of the many choices you’ll encounter when searching for the perfect home is whether to buy a house on a corner lot. Corner lots are unique in many ways, offering various advantages and disadvantages. Examining the pros and cons of corner… The post Should a Buyer Consider a House on a Corner Lot?

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Strategize for success: Your 2024 social media playbook

Inman

Join Katie Lance and learn how to create a social media calendar that will drive engagement and boost your business in 2024.

Marketing 186
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Mortgage Rates Continue to Slide Down

RIS Media

Seeing their fourth week of declines, the 30-year fixed-rate mortgage (FRM) averaged 7.29% this week, down from last week’s dip to 7.44%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Wednesday, Nov. 22. This week’s results include an adjustment for the observance of Thanksgiving. This week’s numbers: The 30-year FRM… The post Mortgage Rates Continue to Slide Down appeared first on RISMedia.

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How did you give back in 2023?

Inman

It's the season for giving, so we're asking you: How did you share with others this year?

Agents 188
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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.

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Anywhere, RE/MAX Receive Preliminary Approval of Nationwide Settlement Agreements

RIS Media

Anywhere Real Estate Inc. and RE/MAX both announced on Nov. 20 that the companies have received preliminary court approval of their agreements to settle all claims asserted or which could have been asserted against them in the Burnett, Moehrl and Nosalek antitrust class action litigation. Preliminary approval of the settlements, the terms of which were… The post Anywhere, RE/MAX Receive Preliminary Approval of Nationwide Settlement Agreements appeared first on RISMedia.

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Are FHA Loans Assumable? A Guide for Homebuyers

HomeLight

In today’s high-interest mortgage market, finding affordable homebuying options is more challenging than ever. As you navigate the complex world of home loans, one term you might have come across is “assumable loan.” Specifically, FHA loans, known for their lower down payment and credit score requirements, often come into focus. But are these loans assumable?

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Staying Safe in the Residential Real Estate World

RIS Media

The world of residential real estate is exciting and full of opportunities, but it also comes with unique safety considerations. Meeting prospective clients, often for the first time, is integral to the job. A recent survey of REALTORS®, members of the National Association of REALTORS® (NAR), who work in residential real estate shows that many… The post Staying Safe in the Residential Real Estate World appeared first on RISMedia.

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The Chick-fil-A Rule: How I Learned to Love Corporate Market Research

Bigger Pockets

One disadvantage that entrepreneurs and “small-time” real estate investors have is that we cannot do anywhere near the amount of market research that large corporations can.

Marketing 116
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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.