Wed.Feb 07, 2024

article thumbnail

NAR membership continues to slide in 2024

Housing Wire

After closing out 2023 with its first annual membership decline since 2012, the National Association of Realtors is still struggling with its membership count. In January, NAR membership dropped 2.5% from the month prior to 1,515,837 members, according to the trade group’s monthly report released on Monday. This is down 2.1% compared to a year prior.

Agents 414
article thumbnail

Why Pre-Approval Is Even More Important This Year

Keeping Current Matters

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Annual home price gains may have reached cycle peak: CoreLogic

Housing Wire

U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic ’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022, but is in line with the pre-pandemic rate of 3.9% in 2019.

Mortgages 464
article thumbnail

Hawaii legislator floats bill banning foreign buyers from island

Inman

Hawaii State Senator Brenton Awa has presented a bill aimed at banning foreign buyers from purchasing or investing in property on the island. The senator said the bill, if passed, would be an important to improving affordability for residents.

Marketing 164
article thumbnail

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.

article thumbnail

Mortgage demand ticks up on the strength of purchase applications

Housing Wire

Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% during the week ending Feb. 2 on a seasonally adjusted basis, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.

Mortgages 457

More Trending

article thumbnail

DataDigest: Where for-sale inventory went and when it’s coming back

Housing Wire

It’s no secret that 2023 was a difficult year to buy a home. With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Census Bureau published last week shows how drastically housing inventory has changed since 2020, while weekly data from Altos Research offers some insights on where it goes from here.

Sales 421
article thumbnail

Monica Fabbio and team join @properties Christie’s

Inman

The FAB Property Group founder has been operating in the Austin luxury market for over 20 years and is in the top 0.25 percent of agents in the city.

Agents 172
article thumbnail

NYCB reportedly in talks to transfer mortgage risks amid market pressure

Housing Wire

Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. The stress is leading to the bank to seek the sale of some of its assets to improve its capital position, executives said during a conference call on Wednesday morning.

Mortgages 413
article thumbnail

Mortgage giants offering very low income homebuyers a spring break

Inman

Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums.

article thumbnail

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.

article thumbnail

Political preferences increasingly influence migration patterns: Redfin

Housing Wire

Many factors prompt homeowners to relocate — and local laws and politics are increasingly among them. About one-third (32%) of real estate agents report having worked with at least one client who wanted to move for political reasons, according to a new Redfin report. Typically, housing affordability and proximity to family and job centers tend to rank high on the list of must-haves when choosing a destination to live.

Brokerage 405
article thumbnail

How to approach and tailor your business plan to today’s market

Inman

Watch the latest Inman Access class to hear what industry experts are prioritizing in 2024 and how the current market will impact or change the way they are approaching their business plans.

Marketing 152
article thumbnail

HHS updates federal policies to support aging in place

Housing Wire

The Administration for Community Living (ACL), a division of the U.S. Department of Health and Human Services (HHS), announced this week the publication of a final rule that will update regulations for implementing programs under the Older Americans Act (OAA). One of the intentions of the rule is to better support the desires of older Americans to age in place in their own homes, ACL said.

Design 401
article thumbnail

Buyers of New Homes Want Real Estate Agent Representation

NAR: Economic Outlook

Buyers of New Homes Want Agent Representation New home buyers value agents' help in understanding the buying process, helping with negotiation, and shortening home search time.

Agents 123
article thumbnail

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.

article thumbnail

Shifting outreach on radio proves fruitful for Colorado reverse mortgage pro

Housing Wire

Longtime reverse mortgage industry professional Bruce Simmons of American Liberty Mortgage in the Denver area has long used radio as both an educational and marketing tool for prospective reverse mortgage clients. Having endured many of the same business challenges in 2023 as other industry participants, Simmons recently sat down with RMD and described how a recent shift in his focus on radio has been beneficial.

Mortgages 400
article thumbnail

The House Voted Passed a Bill That Could Bring Back 100% Bonus Depreciation—Here’s What Investors Need to Know

Bigger Pockets

As of the end of 2022, 100% bonus depreciation was set to be phased out by the end of the decade. Now, with the Tax Relief for American Families and Workers Act of 2024, it looks like we could see bonus depreciation and other benefits stick around. Here's what you need to know about the bill.

Investor 121
article thumbnail

Embrace Home Loans names new president

Housing Wire

Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman served as the company’s senior vice president of retail and direct sales for more than four years. In his new role, Hardiman will lead its lending and fulfillment operations.

Loans 396
article thumbnail

Confidence in 2024 Surges as Brokers Shake Off Winter Blues

RIS Media

We’re still in the throes of winter, mortgage rates are still more than double what they were during 2020-21, and listings are few and far between, but brokers are telling RISMedia that an early seasonal rebound is already here as consumers adapt their behavior to a post-pandemic new normal. With the RISMedia Broker Confidence Index… The post Confidence in 2024 Surges as Brokers Shake Off Winter Blues appeared first on RISMedia.

Mortgages 121
article thumbnail

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.

article thumbnail

Rithm Capital delivers $524M profit in 2023 

Housing Wire

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. Lower interest rates, however, reduced the value of mortgage servicing rights (MSR) in the final three quarters of the year and affected the company’s overall performance during the period.

article thumbnail

Seattle’s social housing developer proposes payroll tax on ‘excess earners’

Seattle Times Real Estate

The ballot measure would tax businesses with employees making over $1 million and could raise as much as $50 million a year to go toward the acquisition and construction of affordable housing.

article thumbnail

Thomas Yoon to steer Lead+ Wholesale Lending

Housing Wire

California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. In his new position, EQA Mortgage ’s former president will strive to bring unmatched support to mortgage brokers who sell non-QM products. “It’s not just about offering non-QM loans; it’s about providing a foundation for brokers to confidently navigate this complex market,” Yoon said in a statement.

Lending 386
article thumbnail

Underinvestment in Real Estate Might Be the Next Big Hurdle for Investors, According to a New Report

Bigger Pockets

Baby boomers hold the vast majority of wealth in the U.S.—many estimates suggest over $17 trillion. Much of that wealth has come from their homes, many of which have been underinvested in over the last few decades. This means the next generation could be facing an avalanche of renovation costs.

Investor 119
article thumbnail

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.

article thumbnail

Why Seattle will fund fewer new affordable housing projects this year

Seattle Times Real Estate

The small award is disappointing, especially after fall's approval of a $1 billion Seattle housing levy and the 2019 approval of a payroll tax to fund housing.

124
124
article thumbnail

Don’t Skimp: Using a Free Lease Template Will Cost You More in the Long Run

Bigger Pockets

A free lease template on a subreddit somewhere sounds like an appealing, low-cost option. But going the cheap route on your lease documents might actually cost you more than getting it right from the start. Here's how to do that.

article thumbnail

Unlocking Opportunities: 3 Reasons To Pursue Expired Listings in Real Estate

RIS Media

In the dynamic world of real estate, discovering untapped opportunities is the key to success. One avenue worth exploring is expired listings. Tip: An expired listing is a property listing that has reached the end of its contractual agreement between the seller and the listing agent without resulting in a sale. When a property listing… The post Unlocking Opportunities: 3 Reasons To Pursue Expired Listings in Real Estate appeared first on RISMedia.

Agents 116
article thumbnail

Construction Wrapping Up at Brooklyn Tower as Podium Facade Installed, Move-ins Happening

Brownstoner

Work is almost complete on the borough's first supertall, The Brooklyn Tower, with facade installation wrapping up on the building’s double-height plinth and tenants and homeowners already taking up residence in the skyscraper that towers over it. On Tuesday, workers at 9 Dekalb Avenue were busy in the still-under construction section… Read More > The post Construction Wrapping Up at Brooklyn Tower as Podium Facade Installed, Move-ins Happening appeared first on Brownstoner.

article thumbnail

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.