Housing Wire
APRIL 27, 2022
Michigan-based Flagstar Bancorp , Inc. , parent company of Flagstar Bank , has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 employees amid a significant drop in origination volumes and margins. Overall, the bank’s net income in the first quarter of 2022 dropped 60.4% from the prior quarter, to $53 million.
Keeping Current Matters
APRIL 27, 2022
If you’re in the market to buy a home this season, stick with it.
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Housing Wire
APRIL 27, 2022
Better.com CEO Vishal Garg. Struggling to cope with the rising mortgage rate landscape, mortgage lender Better.com reported a loss of $303.8 million in 2021, a stark contrast to its profitable nonbank peers. According to an amended S-4 filed by its special purpose acquisition company Aurora Acquisition Corp. with the Securities and Exchange Commission (SEC) on Monday, the earnings deterioration resulted from increasing interest rates, higher costs to support purchase loans, and investments to ex
Eye on Housing
APRIL 27, 2022
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.4% in the first quarter of 2022, which is statistically unchanged from the last quarter reading. The national homeowner vacancy rate slipped to a record low of 0.8%, while the rental vacancy rate increased to 5.8%. The covid-induced data collection restrictions have ended in all areas as.
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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.
Housing Wire
APRIL 27, 2022
Interest in residential mortgage loans fell 8.3% for the week ending April 22, including a sharp decline in purchase applications, which indicates a potential weakness in home sales in the coming months, according to the Mortgage Bankers Association ‘s (MBA) latest survey. Mortgage rates are now firmly above the 5% mark , at the highest level since 2009, depressing both purchase and refinance applications.
Maximum Exposure Real Estate
APRIL 27, 2022
Understanding An Earnest Money Refund When you are purchasing real estate, there are quite a few things you need to know. One of those things is whether or not your money is refundable. Many buyers and sellers will ask their respective real estate agents whether the earnest money deposit is refundable. Whether earnest money is […]. The post Who Keeps The Earnest Money When a Sale Falls Through appeared first on Maximum Real Estate Exposure.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
GeekEstate
APRIL 27, 2022
We have a job opportunity to share from a member of the GEM, Condos.com, a new and pre-construction marketplace: CTO. The opportunity: Job Description – How Will You Make an Impact? Work with our CEO and leadership team to set the technical direction, strategy and execute our roadmap. Drive technical decisions to use modern technology to deliver the product to our customers quickly and efficiently.
Housing Wire
APRIL 27, 2022
Homeownership in America was a dream that became a nightmare for some during the financial crisis, and then became a hot topic of conversation for the last several years. We’ve got fresh data on homeownership — how does it look today? It seems perfectly right to me if you believe in demographics, affordability and credit profiles. In the previous expansion, I always stressed that housing would have its weakest recovery from 2008 to 2019.
Eye on Housing
APRIL 27, 2022
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that conventional loans accounted for 78.5% of new home sales in the first quarter of 2022, the highest share in more than a decade. Conventional loans financed over three-quarters of new home sales in the second quarter of 2008 before steadily falling and bottoming out at 57.3%.
Housing Wire
APRIL 27, 2022
Tuesday, the new home sales report for March came in as a miss of estimates at 763,000, but the revisions were all positive, which shows that the housing data is still lagging behind the current market reality. That data shows how housing was still on pace to have another solid year before mortgage rates got over 5%. The most recent housing starts data on permits and starts side of the equation was fine this month, but it also lagged the current rates environment.
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.
Brownstoner
APRIL 27, 2022
Spring is a time to clean and refresh, and with design month approaching in May, it is also a time to grab some inspiration before tackling some interior projects. This year NYCxDESIGN, a nonprofit that promotes the city's creative community, is celebrating its 10th anniversary, and exhibitions, panels, open studios… Read More > The post Get Some Design Inspiration for Your Interiors During NYCxDesign in May appeared first on Brownstoner.
Housing Wire
APRIL 27, 2022
Out of sheer necessity when the pandemic hit, RON and other digital closing solutions saw a massive uptick in use. However, Nathan Bossers, president of Boston National Title, said the changes and acceleration the industry saw during this time still isn’t enough. . “Two years ago when the lockdown first started happening and there was real fear in the marketplace that lenders weren’t going to be able to sign a loan, I think everyone rushed to the RON and as a potential solution and began to educ
HomeLight
APRIL 27, 2022
Sheds can be incredibly useful, whether you’re using it for additional storage or as outdoor space for an office , a hobby, or just relaxation. With all these uses, does a shed increase home value when it comes time to sell ? Especially as more people work from home, agents say buyers are looking for office space and outdoor space , which the right shed can provide.
Housing Wire
APRIL 27, 2022
First Community Mortgage ‘s wholesale division named a new regional sales manager in hopes to continue growth for the firm’s mortgage boutique division. Murfreesboro, Tennessee-based firm tapped Jeff Raich for the position, FCM said Wednesday in a release. Raich has been in the mortgage lending business for more than 25 years and focused on Third-Party Originator after earning a bachelor’s degree in finance from Southern Illinois University, Carbondale, according to the firm.
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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.
Easy Agent Pro
APRIL 27, 2022
A recent NAR study found that 52% of buyers purchased their last home online. As virtual tours and remote closing continue to gain popularity, realtors like you are no longer able to connect with buyers via in-person “face time.” That’s where you real estate bio comes in. These days, your online real estate bio plays a big role in landing new clients.
Housing Wire
APRIL 27, 2022
Amid a challenging time for would-be homebuyers, FinLocker released an updated web experience that aims to make it easier for consumers to see their progress in qualifying for a mortgage loan. The main feature of the firm’s web v3.0 includes the redesign of the dashboard to make frequently used financial tools easier to access for all consumers. “For those focused on buying a home, we organized the mortgage preparation tools to simplify the process of monitoring their progress towards mortgage r
The Mortgage Report
APRIL 27, 2022
Housing analyst Logan Mohtashami explains how high mortgage rates will go in 2022 and why rising rates are good for buyers.
Brownstoner
APRIL 27, 2022
With its eye-catching stepped side gables and broad front porch, this Prospect Park South standalone has some allure even before one gets to the detail-filled interior. For car owners, there is also the added attraction of a two-car garage with a Tesla charging station. In the Prospect Park South Historic District,… Read More > The post Prospect Park South Standalone With Garage, Tesla Charging Station Asks $2.8 Million appeared first on Brownstoner.
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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.
HomeLight
APRIL 27, 2022
Whether you’re interested in buying, selling, or investing in real estate, these books can help you dive deeply into the world of real estate. We’ve found some of the best real estate books for 2022 to help you learn the ins and outs of how it all works. Best real estate books for selling. Selling your home is not a walk in the park. There are a lot of factors that come into play whether you’re trying to sell your home with a real estate agent or sell your home yourself.
Fancy Pants Homes
APRIL 27, 2022
When lauded architecture firm Woods + Dangaran completed their ambitious Palm Springs project, the Woods House, design magazines quickly jumped at the opportunity to profile the slick desert home. Every industry publication from Architectural Digest to Dezeen or Wallpaper ran a feature showcasing the modern marvel’s many attributes, and the seamless way in which it blends with its surroundings.
HomeLight
APRIL 27, 2022
The old saying in real estate is “location, location, location.” Although location is important, you should also be thinking “price, price, price.” Perhaps the most common question that sellers face is: “ How much can I sell my house for?”. A persistent underproduction of housing has led to a housing shortage , helping to drive up prices. Not enough supply has meant that sellers could price their houses high and still sell.
Real Trends
APRIL 27, 2022
The fight to undo the National Association of Realtors’ pocket listings ban is back after a federal appeals court’s forceful ruling Tuesday. A three-judge U.S. 9 th Circuit Court of Appeals panel reversed a lower court judge’s dismissal of an antitrust lawsuit PLS.com – an erstwhile acronym for pocket listings service – filed against the NAR policy, officially titled Clear Cooperation.
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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.
The Mortgage Report
APRIL 27, 2022
Stated income loans were all the rage pre-2008, but they don't exist anymore. Learn what companies really mean when they say "stated income loan" today.
RIS Media
APRIL 27, 2022
Berkshire Hathaway HomeServices has announced its further expansion in Massachusetts with the addition of East Longmeadow, Massachusetts-based Berkshire Hathaway HomeServices Realty Professionals. This addition marks the brand’s continued growth in the region with its 48th franchisee led by Robert Molta, the firm’s president, who has been an industry leader in the market for over 30 years, a company release stated.
Toronto Realty Blog
APRIL 27, 2022
TorontoRealtyBlog. Why so quiet? Seriously, only a sprinkle of comments on Monday’s blog post? I received a couple of emails from readers who both said, “Early candidate for ‘post of the year,'” and while I think it’s very early to start thinking about December, I would certainly agree that “blind bidding” as a topic will make at least one year-end appearance.
RIS Media
APRIL 27, 2022
A legal conflict with potentially disastrous implications for the real estate industry has come to a head, pushing leaders across the industry to take swift action. The National Association of REALTORS® (NAR) and several national brands named in a lawsuit over an NAR policy announced that they are fighting a recent court decision designating the case as a class-action lawsuit. “We are disappointed in the decision and plan to appeal,” said NAR spokesperson Mantill Williams in a statem
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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.
The Mortgage Report
APRIL 27, 2022
Today’s mortgage and refinance rates Average mortgage rates fell again yesterday, though by a much smaller amount than on Monday. And they’re now very close to where they were last […].
RIS Media
APRIL 27, 2022
VITALS: . BHGRE Winans. Years in business: 38. Size: 200 agents, 8 offices. Regions Served: Dallas/Fort Worth Metroplex and Texoma area of North Texas and Southern Oklahoma. 2021 Sales Volume: $682,222,875. 2021 Transactions: 1,818. Mark McDonough was working in marketing and advertising at a large, privately held agency in Dallas when he decided to search for a career where he could have more impact on the overall success of the business.
Brownstoner
APRIL 27, 2022
In the News A Walk Through Frederick Law Olmsted's Enduring Legacy [NYT] Bay Ridge Father, Son Create Comic Books to Provide Autism Awareness [Eagle] MTA to Hold Virtual Town Hall on Interborough Express in May [amNY] Earth Day Draws Volunteers to Brooklyn Bridge Park Cleanup [BP] Green-Wood’s Summer Concert Lineup Announced [BK Reader] How Spuyten Duyvil… Read More > The post Daily Links: Vision for the Interborough Express to Be Presented at a Virtual Town Hall appeared first on Brow
RIS Media
APRIL 27, 2022
A recent study found that there are 4.62 billion active social media users in the world, making digital marketing essential to your success. The real estate industry, like many others, thrives off connections and relationships, and in an increasingly digital world, agents need to find new ways to establish themselves and their businesses. And that’s where social media marketing steps in.
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