Mon.Jun 05, 2023

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Tight credit, high rates and low inventory add to buyers’ affordability struggles 

Housing Wire

The affordability challenges homebuyers are facing are becoming more deeply entrenched, according to Black Knight ‘s most recent monthly mortgage monitor report. “In a sense, the gridlocked housing market has been feeding on itself,” Andy Walden , VP of enterprise research strategy at Black Knight, said. Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes.

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Oops! Home Prices Didn’t Crash After All

Keeping Current Matters

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year.

Marketing 265
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Revolution Mortgage snags top loanDepot loan officers

Housing Wire

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. Jorden Brok and Brett Lotsoff are producing area managers and SVPs of mortgage lending at Revolution Mortgage and are tasked with expanding the company’s footprint in the greater Chicago area.

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Buyers look to the South and Midwest, but costs can be high

Real Estate News

Midwest and Sunbelt markets continue to attract home shoppers, but affordability is precarious, especially in Florida as insurance rates rise.

As-is 241
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The 2025 Real Estate Roadmap to Success

Don’t just react to changes, plan for them, so you can approach the new year with confidence, direction, and a competitive edge for your business. Having a well-defined business plan helps you chart a clear course, navigate challenges, and set a foundation for growth. This workbook gives you the key steps to outline what matters and will ensure you’re moving ahead.

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Top executives to leave loanDepot amid business line consolidation

Housing Wire

California-based loanDepot announced on Friday that four top executives hired during Anthony Hsieh ‘s reign are departing the company, only two months after its founder was fired from an executive position amid a battle with the board of directors. The lender is also consolidating its business line in response to another financial loss in the first quarter of 2023.

Equity 370
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Keller Williams’ Laurie Reader: It’s ‘a full-blown, skill-based market’

Inman

Ahead of her appearance at Inman Connect Las Vegas, the CEO of Laurie Finkelstein Reader Real Estate shares why absorbing information and attending events is more crucial than ever in 2023.

Marketing 158

More Trending

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CoStar to sunset Homesnap brand this year as it transitions to Homes

Inman

The real estate juggernaut is sunsetting the Homesnap brand name and products by the end of the year in favor of transitioning users to its dominant residential real estate brand Homes.com.

Branding 158
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MC Mortgage Group joins UMortgage platform

Housing Wire

UMortgage , a growing nationwide mortgage platform, announced last week the addition of MC Mortgage Group to its network. MC Mortgage Group, a mortgage brokerage based in Wilmington, North Carolina, serves homebuyers across North and South Carolina. Patrick Stoy , president of MC Mortgage Group, established the brokerage in 2005 and brings with him 24 years of experience in the housing industry.

Mortgages 370
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Guaranteed Rate’s Same Day Mortgage provides buyers, sellers, and their agents more certainty, ease, and speed

Inman

Same Day Mortgage delivers exactly what it promises – loan approval in less than 24 hours. Since launching earlier this year, Same Day Mortgage has closed more than $2B in loans. Many applications are approved in four hours or less.

Mortgages 148
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Top Producer Software launches social media lead product

Housing Wire

Top Producer Software , a leading real estate software provider, announced on Monday the release of its first-ever social media lead product, Social Connect. This new product combines social media marketing with automated lead nurture to enable real estate agents to grow their database and convert more leads into clients. “Social Connect is a game changer for our customers with the number of quality interactions being generated,” Kerm Foltz , senior vice president of operations at To

MLS 370
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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The 5 most sought-after design trends in flooring

Inman

The floors underfoot have a powerful bearing on the quality and character of the home. Flooring brings cohesion to the design while allowing each room’s distinct personality to stand apart. Here are the trends that will help any property shine.

Design 148
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HomeServices of America ups its stake in Title Resources Group

Housing Wire

Title Resources Group (TRG), a leading title insurance underwriter, announced on Monday that HomeServices of America , a Berkshire Hathaway affiliate and one of the nation’s largest residential real estate companies, has increased its ownership stake in TRG. This move further solidifies the partnership between the two industry leaders, according to a press release from the companies.

Title 369
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You owe it to yourself to challenge buyer love letter misinformation

Inman

Question misconceptions and challenge the status quo to put this powerful buyer tool to work for your hopeful clients, writes trainer Darryl Davis.

Agents 148
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Boston suburb works to comply with new state multifamily construction law

Housing Wire

The town of Newton, Massachusetts is working to comply with a new state law that requires the construction of new multifamily housing units in areas served by public transit, according to reporting from the Boston Globe. The law, which went into effect in early February, requires 177 communities served by the Massachusetts Bay Transportation Authority (MBTA) to eliminate barriers that could restrict the zoning and construction of multifamily housing units.

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Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

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Home Depot unveils hefty 540-square-foot tiny home for $44,000

Inman

The Getaway Pad from PLUS 1 Homes generated buzz online over the weekend for its low price tag. But the mother of all tiny home requires more than $44,000 to be inhabitable, early adopters warn.

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Shaun Donovan is named Enterprise Community Partners CEO

Housing Wire

Shaun Donovan, the former secretary of the U.S. Department of Housing and Urban Development ( HUD ) and former director of the U.S. Office of Management and Budget (OMB), has been appointed CEO of Enterprise Community Partners , a national housing nonprofit that aggregates housing investments, advocates for housing policies and builds and manages communities.

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OpenAI.com, home of ChatGPT, approaches 1B monthly visitors

Inman

Web activity grew by 54 percent in March 2023, easily the greatest increase of all top-ranking websites worldwide, according to Veza Digital.

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HW Insiders honoree Amanda Price talks automation technologies

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been previously recognized by the HW Editors’ Choice Awards. N ominations for HousingWire’s Insiders award are open now through Friday, June 23, 2023. Click here to nominate an industry insider — a client, colleague, boss or friend — it can even be you! For eight years, HousingWire’s Insiders award has been recognizing the high-achieving industry pros whose roles require them to work behind the scenes while mak

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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

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WATCH: The right lender can make buyer love letters obsolete

Inman

Not crazy about buyer love letters? Mortgage expert Rick Guerrero says that a great lender can reach out to the listing agent on a buyer's behalf to offer information and reassurance.

Mortgages 148
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Ex-underwriters sue UWM for retaliation, sexual harassment

Housing Wire

Top U.S. originator United Wholesale Mortgage (UWM) is the target of two lawsuits filed by former underwriters alleging retaliation, a hostile workplace environment, gender/sexual harassment and failure to pay minimum wages and overtime. The company declined to comment on the accusations. According to the lawsuits filed in a U.S. district court in Michigan, the alleged events occurred amid the mortgage lender’s return-to-work policy during the Covid-19 pandemic.

Mortgages 338
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HomeZada updates, releases AI chatbot interface

Inman

In a seemingly unstoppable trend, HomeZada is the latest proptech player to enhance its product with artificial intelligence to handle a number of common functions for users.

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You’re Making a Mistake if You Are Not Adding Contingencies Rehab Budgets

Bigger Pockets

With the way the market's been acting lately, you need to be proactive about protecting yourself. Add this to your list of must-haves.

Marketing 130
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The Broker Action Plan for the Post-NAR Lawsuit Landscape

Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.

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Does this financial analyst have an economic crystal ball?

Inman

Could an obscure chart provide a roadmap for investment? Bernice Ross talks with money mentor Chris Naugle about this little-known pattern of economic highs and lows dating all the way back to the 19th century.

Marketing 147
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Buckle Up Investors—Interest Rates Are Only Going to Get Worse From Here

Bigger Pockets

Yes, interest rates might still be historically low compared to the 80s and before, but don't expect it to stay that way.

Investor 128
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LoanDepot hires new CFO and parts ways with 4 top managers

Inman

CEO Frank Martell recruits former CoreLogic colleague David Hayes as losses pile up and mortgage originations hit another new low.

Mortgages 146
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As Williamsburg Tenants Fight Rooftop Battery Installation, City Moves to Make Them As of Right

Brownstoner

Editor's Note: This morning, New York City's Board of Standards and Appeals approved a special permit for the installation of a battery energy storage system at 315 Berry Street, allowing MicroGrid Networks to proceed with the Department of Building's permitting process. Tenants in an early 20th century Williamsburg building fighting the… Read More > The post As Williamsburg Tenants Fight Rooftop Battery Installation, City Moves to Make Them As of Right appeared first on Brownstoner.

Marketing 128
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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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Tech-driven horizons: The evolution of building and construction

Inman

Explore how innovative solutions are revolutionizing new development from a historically building-centric view to a tenant-centric approach, in this must-watch Inman Access class.

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How You Can Start Buying Real Estate Using Your 401(k) or IRA

Bigger Pockets

Did you know you can buy real estate in your IRA or 401(k)? If you didn't, here's how you can!

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Am I too old to post on Instagram?

Inman

Instagram isn't just for 21-year-old would-be models. Sue "Pinky" Benson shares why Gen-X is the fastest-growing group on the platform and why you should be there, too.

Agents 144
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Who Pays The Closing Costs: Sellers or Buyers?

Bigger Pockets

Closing costs are a crucial aspect of any real estate transaction. We'll explain who pays closing costs and how they impact you as an investor.

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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.