Tue.Nov 02, 2021

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Sellers Have Incredible Leverage in Today’s Market

Keeping Current Matters

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying : “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.” But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market.

Marketing 247
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How Zillow’s model crushed its iBuying business

Housing Wire

On Tuesday Zillow announced it will be shutting down its Offers business, which wasn’t too much of a shock considering how their stock had been performing for some time. The news was that they had been overpaying for homes and their losses on those purchases were getting larger and larger. Life being a publicly traded company can be fantastic or brutal at times.

Sales 502
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Inside the Historic Farralone House

Sotheby's International Real Estate

The unmistakable style of prolific architect William Pereira—whose cutting-edge creations included such landmarks as the Transamerica Pyramid in San Francisco—helped define the 20th century’s design aesthetic. This iconic midcentury residence, designed by Pereira and painstakingly restored, exhibits many of his trademark elements and his forward-thinking style.

Design 142
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Zillow to kill its iBuying program

Housing Wire

Zillow CEO Rich Barton announced Tuesday that his company is exiting the iBuying business , a mind-boggling about face that completely changes Zillow’s business model and will result in the loss of about 1,605 jobs. The wind-down of “Zillow Offers” is expected to last several quarters and will reduce the Seattle-based company’s workforce, reported at 6,420 employees as of June 30 , by 25%.

Closing 393
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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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Unexpected fall in pending home sales in September

Realty Biz

Pending home sales, a key measure of signed contracts to buy existing homes, unexpectedly dropped by 2.3% in September compared to a month ago. The National Association of Realtors said sales may have dropped due to higher mortgage rates. Analysts were expecting a small monthly gain in pending home sales. The average 30-year fixed-rate mortgage fell below 3% in July and stayed at that level until the first week of September, before rising to end the month at 3.15%, Mortgage News Daily reported.

Sales 127

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Realtors: Must-know Facts About Twitter Spaces for Real Estate

Realty Biz

Are you familiar with Twitter Spaces and plan to use it for your real estate business? Is this new in-app feature helpful for real estate agents? Does it make sense to tap into its potential to drive more real estate leads? What Are Twitter Spaces? Twitter Spaces are right now more or less an experiment. Whether they will help your real estate business or not is a matter of adoption and engagement.

Agents 123
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Opinion: Rethinking the FHA mortgage insurance premium

Housing Wire

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. This change triggered controversy. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan. Understanding the difference between FHA and private mortgage insurance can shed light on why FHA changed its policy.

FHA loan 381
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Supply chain shortages Realtors need to know about to help their clientele

The American Genius for Real Estate

(HOMEOWNERSHIP) The supply chain shortage hasn't just affected cars, computer chips, and medical equipment - what home goods are scarce and for how long? The post Supply chain shortages Realtors need to know about to help their clientele appeared first on The American Genius Real Estate.

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New York expands CRA rule to nonbank lenders

Housing Wire

New York State on Monday approved the extension of the state Community Reinvestment Act ( CRA ) to non-depository lenders, a controversial rule that has received criticism as “unnecessary” and “discouraging” from the mortgage industry. Gov. Kathy Hochul approved the bill – S.5246-A/A.6247-A – 10 days after being delivered by the New York State Senate.

Lending 388
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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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Why aren’t 76% of veterans using their VA loan benefits?

The Mortgage Report

Over 14 million veterans own their homes. But only 24% of those have tapped their VA loan benefits. Learn more about VA loan benefits and how to use yours.

VA loan 111
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New Residential already seeing the benefits of Caliber deal

Housing Wire

Powerhouse lender/servicer New Residential Investment Corp. had an impressive third quarter, with reported earnings of $177.5 million from July to September, up 136% quarter-over-quarter. According to NRIC’s third quarter earnings released on Tuesday, the growth was spurred mainly by the REITs acquisition of mortgage lender Caliber Home Loans in August.

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In New York There Is a Legal Difference Between a Basement and a Cellar

Brownstoner

Editor’s note: This story is an update of one that ran in 2016. Read the original here. Unbeknownst to many, the difference between a basement and a cellar, often misconstrued as an endearing colloquial difference, is, in fact, a nuanced legal matter. At least half the story must be above ground to… Read More > The post In New York There Is a Legal Difference Between a Basement and a Cellar appeared first on Brownstoner.

As-is 98
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Pretium acquires fix-and-flip lender Anchor

Housing Wire

Investment firm Pretium has acquired the leading fix-and-flip lender Anchor Loans LP from affiliates of Wafra Capital Partners Inc. and other owners. The terms of the deal were not disclosed. California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. To date, it has originated more than $10 billion – 95% of them to borrowers who have completed more than 40 projects, the company claims.

Loans 339
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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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Best State Parks in Southeast Florida

Waterfront Properties

Southeast Florida is a great place to live if you enjoy the outdoors. Everyone knows about our miles and miles of beaches and palm trees, but some people are unaware that Palm Beach County also has some beautiful state parks. Here are two of our favorite state parks in South Florida. Jonathan Dickinson Jonathan Dickinson State Park in Hobe Sound offers miles of coastal sandhills, upland lakes, and scrub forests, as well as the pristine Loxahatchee River, make this park a unique spot to explore b

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Richard Brinkley: ‘Marketing to the rich is different’

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Richard Brinkley: ‘Marketing to the rich is different’. Please visit REMonline.com for more content like this, and contact web@remonline.com to inform us of any unauthorized reproduction. Since 2014 – year one of the company opening locations in Canada – the North American market continues to exceed expectations, says Richard Brinkley, the company’s senior vi

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Third Quarter of 2021 Homeownership Rate at 65.4%

Eye on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate was flat at 65.4% in the third quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99.5% of the sample. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental.

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Daily Links: New Towers Planned for Lot Along Gowanus Canal

Brownstoner

In the News Unvaccinated NYC Workers Put on Unpaid Leave as Mandate Begins [NYT] Cabbies Stage Hunger Strike for More Aid [NYT] How the Resident of Green-Wood Cemetery Spends His Sundays [NYT] Construction Starts on Long-Awaited Fresh Creek Storm Resiliency Project [BP] Film Celebrates Bed Stuy’s Historic Afrocentric Organization [BK Reader] Have Vaccine Mandates Impacted Bushwick… Read More > The post Daily Links: New Towers Planned for Lot Along Gowanus Canal appeared first on Browns

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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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Will mortgage rates go up after the Fed meeting this week?

The Mortgage Report

The Federal Reserve meeting this week should hold key information for mortgage rates. But the impact might surprise some borrowers. Here's why.

Mortgages 103
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Appraiser Salary and Income Vary Based on License Level

McKissock

If you are considering a career in real estate appraisal, you’re probably curious about appraiser salary and income potential. According to the Bureau of Labor Statistics, the median annual wage for all appraisal license levels was $58,650 in 2020—$16,700 more than the median annual wage for all occupations in the U.S. economy. Your actual earnings will vary based on your appraisal license level.

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Illinois First-Time Home Buyer: 2021 Programs and Grants

The Mortgage Report

Illinois first-time home buyers have access to low- and no-down payment loan programs as well as down payment assistance. Learn more here.

Loans 105
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October’s Top 10 Celebrity Real Estate News: Kanye West, Justin Timberlake, Gloria Vanderbilt & Matt Damon

Realty Biz

“October’s Top 10 Celebrity Real Estate News”. “Joe Jonas & Sophie Turner Sell in LA & Buy in Miami”. A-Listers Joe Jonas and wife, Sophie Turner, have sold their Encino, California home. Taking two years and the help of celebrity-designer Jae Omar, the couple purchased the home in 2019 for $14.1 million, and listed it at $16.75 million in June.

Land 82
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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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Mortgage and refinance rates today, Nov. 2, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates moved moderately lower yesterday. I’d predicted they’d go higher. And you can find out why I got that wrong by reading on. […].

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1680 House With Bread Oven in Family Room Is the Week’s Oldest Home

Realtor.com

Located in Massachusetts and built in 1680, the home was centuries ahead of its time given the resurgence in home bread baking over the past year. The post 1680 House With Bread Oven in Family Room Is the Week’s Oldest Home appeared first on Real Estate News & Insights | realtor.com®.

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Roomy Kensington Jitterbug-Era One-Bedroom With Arches, Foyer, Breakfast Nook Asks $499K

Brownstoner

Complete with the decorative details of its time, this spacious one-bedroom from the World War II era has enough nooks and crannies to allow for some work-from-home space -- or possibly even a growing family. Located on the fourth floor of 811 Cortelyou Road in Kensington, the apartment includes a foyer, breakfast nook,… Read More > The post Roomy Kensington Jitterbug-Era One-Bedroom With Arches, Foyer, Breakfast Nook Asks $499K appeared first on Brownstoner.

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Safety First: 8 Tips To Protect Yourself When Showing Your Home

Realtor.com

Keep yourself and your belongings safe when you're showing your property with these tips from real estate agents and safety experts. The post Safety First: 8 Tips To Protect Yourself When Showing Your Home appeared first on Real Estate News & Insights | realtor.com®.

Agents 88
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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.