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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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 202
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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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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 223
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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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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 369
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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 157

More Trending

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Keller Williams agent, daughter die after plane drifts into no-fly zone

Inman

The plane, which drew military intervention after it flew into restricted airspace, crashed Sunday, killing four people, including NYC-based agent Adina Azarian and her 2-year-old daughter, Aria.

Agents 148
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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 362
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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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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 355
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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 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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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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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 145
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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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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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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 144
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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 299
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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 147
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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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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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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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The Median Age of the Construction Workforce

Eye on Housing

NAHB analysis of the most recent 2021 American Community Survey (ACS) data reveals that the median age of construction workers is 42, one year older than a typical worker in the national labor force. Attracting skilled labor is still the primary long-term goal for construction, even though a slowing housing market has eased some pressure on current tight labor market.

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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 126
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Daily Links: Locals Fear Atlantic Rezoning Will Push Out Black and Brown Residents, Businesses

Brownstoner

In the News Stuyvesant High School Admitted 762 New Students. Only 7 Are Black [NYT] Nigerian Food and Fashion Came Together at Bed Stuy Dinner Party [NYT] What Happened When Brownsville Blocks Policed Themselves [NYT] NYC E-Bike Battery Fires Kill More in 2023 Than 2022: FDNY [NYP] NYPD to Beef Up Enforcement of Sidewalk BBQs… Read More > The post Daily Links: Locals Fear Atlantic Rezoning Will Push Out Black and Brown Residents, Businesses appeared first on Brownstoner.

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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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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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Recession-Proof Ground Leases Are an Overlooked $2.5 Trillion Asset Class

Propmodo

The headline-making transactions in commercial real estate usually involve big high-rise buildings, major portfolio trades with gargantuan price tags, or company mergers with even more zeros attached to the transaction. It’s a rare occasion, however, that the industry gets excited over ownership of something that is an inseparable part of every real estate transaction: land.

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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 116
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Home-Prices Growth Continues, but Is Slowing

RIS Media

While home prices continued to grow in May, the growth slowed to the lowest rate on record since 2016, according to a new report from Realtor.com. Realtor.com’s Monthly Housing Trends Report for May found that the median listing price grew by 0.9% to $440,000, up 38% from 2019. Active listings were up 21.5%, but down… The post Home-Prices Growth Continues, but Is Slowing appeared first on RISMedia.

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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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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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Women in Real Estate: Building a Successful Partnership

RIS Media

Above: Jacquelynn Rossiter, left, and Debbie Zolan Debbie Zolan and Jacquelynn Rossiter met in 2010 while working at the same brokerage, and several years later, they thought their collaboration was too good to keep to themselves—eventually founding New York’s Zolan Rossiter Team at Compass in 2021. Here, Zolan and Rossiter discuss what makes their partnership… The post Women in Real Estate: Building a Successful Partnership appeared first on RISMedia.

Brokerage 102
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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 105
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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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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.