Thu.Apr 27, 2023

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FedNow: instant payments or instant fraud?

Housing Wire

Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve ’s new FedNow instant payment system looks to be making that dream a reality. However, before one gets too excited, the title insurance industry is asking if it really is worth sacrificing security for speed. “There is the obvious perceived benefit of faster payment and they are touting that it will be cheaper than wire transfers , and of course you no longer have to worry about m

Title 459
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Sherry Chris steps down as leader of BHGRE and ERA

Real Estate News

Sherry Chris, president and CEO of the Anywhere Expansion Brands portfolio, is retiring from brand leadership and will transition to an advisory role.

Branding 279
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Pending home sales fall 5.2% in March

Housing Wire

For the first time since November 2022, pending home sales fell in March, posting a 5.2% month-over-month decrease, according to data released Thursday by the National Association of Realtors (NAR). The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, down 23.3% year over year. An index of 100 is equal to the level of contract activity in 2001.

Sales 459
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Cash offers are up, profits are down — but some metros are thriving

Real Estate News

While these trends can bring challenges, understanding local market dynamics can help buyers and sellers be more competitive.

Marketing 279
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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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Big Four executives bemoan housing market conditions

Housing Wire

Executives at both Stewart Information Services and First American Financial bemoaned the challenging housing market environment as they discussed their respective firms’ first quarter 2023 earnings with investors Thursday morning. “The sharp decline in affordability driven by mortgage rates above 6%, along with low inventory and elevated home prices , adversely impacted the housing market, and as a result, our residential purchase business,” Ken DeGiorgio, the CEO of First American , told

Title 412
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Lack of inventory put a damper on March pending home sales

Real Estate News

The National Association of Realtors reported the first dip in pending sales since last November as inventory remains tight.

Sales 264

More Trending

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Mortgage rates up for a second week, but may top out soon

Real Estate News

The average 30-year mortgage was up slightly this week, but cooling inflation is a sign that the market is stabilizing, which should prompt declines.

Mortgages 264
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NYSE American to delist Impac’s common stock

Housing Wire

California-based Impac Mortgage Holdings , a former mortgage lender repositioning itself as a brokerage firm, announced on Thursday that NYSE American, LLC. has started the proceedings to delist its common stock from the exchange, suspending its trading immediately. Impac does not intend to appeal the determination, the company said in a filing with the U.S.

Equity 390
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Why Today's Foreclosure Numbers Are Nothing Like 2008

Keeping Current Matters

You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market.

Marketing 254
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EarnUp financial wellness platform reaches new milestone in Q1

Housing Wire

Financial wellness technology company EarnUp reached a new milestone last quarter, helping millions of Americans schedule mortgage, auto, and student loan payments through its Payday to Payday program and technology. The company says it processed more than 50 million payment transactions worth $43 billion in total as of Q1 2023. The growth of EarnUp follows a surge in interest from companies seeking smart programs designed to help employees achieve a more well-rounded financial picture.

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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 Bronx’s Fieldston emerges as 1 of NYC’s priciest neighborhoods

Inman

In an unexpected twist, the Bronx neighborhood saw the median property value increase a stunning 149 percent year over year, bumping it into NYC's 50 priciest 'hoods for the first time in Q1.

Marketing 167
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MMI names Brian McKray as director of product development

Housing Wire

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has appointed Brian McKray as the director of product development. In this role, McKray will be responsible for overseeing the creation of new system features and functionalities that align with MMI’s vision and mission.

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Handwritten direct mail and AI landing pages? Addressable is the answer: Tech Review

Inman

Addressable combines AI-written direct mail campaigns with automated landing page creation to create integrated marketing campaigns.

Land 158
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Institutional SFR players are stuck in the doldrums

Housing Wire

The largest institutional single-family rental (SFR) operator in the country, Invitation Homes , is in the hot seat over its alleged failure to comply with building-permit requirements for rental properties it owns in California. Another larger player in the space, Progress Residential , recently postponed a securitization transaction due to difficult market conditions.

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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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What’s the No. 1 mistake real estate agents make on Instagram?

Inman

There’s so much noise out there on how to navigate a challenging market. This April, let Inman help you cut through the clutter to make smart business decisions in real time.

Agents 158
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Pennymac delivers $30M profit in Q1

Housing Wire

California-based Pennymac Financial Services reported gains in its servicing portfolio that offset losses with its origination activity in the first quarter of 2023, allowing the company to deliver an overall profit in the period. However, Pennymac’s profitability declined compared to the previous quarter amid a still-challenging mortgage market.

Principal 370
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Housing drags down US economy for second-straight quarter in Q1

Inman

Consumer spending remained high while the broader economy slowed, growing just 1.1 percent in the first 3 months of 2023, according to data released Thursday by U.S. Bureau of Economic Analysis.

Brokerage 158
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New CFPB guidance takes aim at ‘zombie mortgages’

Housing Wire

The Consumer Financial Protection Bureau (CFPB) issued guidance this week for debt collectors seeking to foreclose on homes with mortgages past the statute of limitations, also known as “zombie mortgages.” The guidance comes in the form of an advisory opinion pertaining to the Fair Debt Collection Practices Act (FDCPA) and implementation of Regulation F.

Mortgages 368
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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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Learn from this smart home expert’s biggest mistakes

Inman

Future-proof your smart home without the frustrations when you learn from smart home expert Brandon Doyle's biggest mistakes.

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Movement taps Brady Yeager for national sales director role

Housing Wire

Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. “I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. Movement is an incredible place, and I cannot wait to show everyone what makes this company so special,” Yeager said.

Sales 368
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AI technologies and luxury market trends: What agents should know

Inman

Watch David Friedman and Kent Czechowski as they dive into new trends being seen in the luxury space and the influence of AI tech.

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States with Highest and Fastest Rising Construction Wages

Eye on Housing

Despite a housing market slowdown but reflecting persistent long-term labor challenges, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. According to the latest Current Employment Statistics (CES) report from the Bureau of Labor Statistics (BLS), average hourly earnings (AHE) in construction vary greatly across 43 states that reported these data.

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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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Boomerang agents causing broker whiplash? The Download

Inman

Today’s Download focuses on agents who are heading back to where they came from after making a hasty brokerage move.

Agents 158
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Economic Growth Weakens in the First Quarter

Eye on Housing

In the first quarter of 2023, economic growth slowed to an annual rate of 1.1%, amid rising interest rates and an ongoing banking crisis. This quarter’s growth was dragged down by decreases in private inventory investment and residential fixed investment. Private inventory investment subtracted 2.26 percentage points off the headline growth rate for overall GDP, while residential fixed investment took.

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Pending home sales end 3-month streak of upticks in dismal March

Inman

The Pending Home Sales Index dropped by 5.2 percent in March to a reading of 78.9 — 23.2 percent lower than March 2022 levels, according to data released by the National Association of Realtors.

Sales 158
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Housing Share of GDP Lower in the First Quarter of 2023

Eye on Housing

Housing’s share of the economy moved lower at the end of the first quarter of 2023. Overall GDP increased at a 1.1% annual rate, following a 2.6% increase in the fourth quarter of 2022 and 3.2% increase in the third quarter of 2022. Despite overall GDP increasing, housing’s share of GDP decreased to 15.8%, below the 2022 fourth quarter share.

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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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$170M off-market mega-mansion deal sets new Palm Beach record

Inman

The off-market deal in the luxury enclave was conducted by a luxury car dealer and the founder of Green Mountain Coffee. It marks a new record for Palm Beach, and becomes one of the priciest deals of 2023 so far.

Marketing 154
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Housing Availability Expectations See Mild Improvement

Eye on Housing

After souring significantly in the final quarter of 2022, buyers’ expectations of housing availability edged up slightly in the first quarter of 2023, with 26% expecting the home search to get easier in the months ahead, just ahead of the 24% a quarter earlier. Despite the mild improvement, buyers’ perceptions of housing availability remain well below their level in the.

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Keller Williams, Rocket named best companies for diversity: Forbes

Inman

KW, Rocket and Anywhere all landed spots on Forbes' latest list of best employers for diversity. The news comes amid an ongoing push for greater diversity in real estate.

Land 148
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Brokers to Offer a Reality Check on 2023

RIS Media

As we headed into 2023, brokers braced for impact, ready to confront the challenges—and surprises—that lay ahead for residential real estate. Now, as we approach the year’s midway point, it’s time to assess how business has unfolded so far and reframe what’s in store for the next six months and beyond. During RISMedia’s Annual Power… The post Brokers to Offer a Reality Check on 2023 appeared first on RISMedia.

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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.