Thu.Apr 18, 2024

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Why are existing home prices rising when sales are still so low?

Housing Wire

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300).

Sales 490
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Why is housing supply so low? Blame local zoning

Real Estate News

Two U.S. senators are pushing for policy changes that would reduce “exclusionary” zoning regulations and promote local development.

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CertifID and Old Republic partner to prevent fraud

Housing Wire

Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud , according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from the mortgage servicer.

Title 472
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Mortgage interest rates soar above 7%, reaching new 2024 high

Real Estate News

No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.

Mortgages 307
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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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U.S. Treasury’s financial crimes network warns of elder exploitation

Housing Wire

The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of the Treasury , is sounding the alarm over challenges faced by elder financial exploitation (EFE). In a newly released trends report, FinCEN highlighted more than $27 billion worth of “suspicious activity” across more than 155,000 filings of Bank Secrecy Act (BSA) data with FinCEN between June 15, 2022 and June 15, 2023.

Banks 446
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KW responsible for agent spam calls, judge rules

Real Estate News

A Pennsylvania judge concluded the brokerage company has personal jurisdiction in a telemarketing lawsuit involving agents from a franchise office.

Agents 223

More Trending

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Is It Getting More Affordable To Buy a Home?

Keeping Current Matters

Over the past year or so, a lot of people have been talking about how tough it is to buy a home.

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Major homebuilder objects to proposed NAR settlement

Housing Wire

Atlanta-based PulteGroup Inc. , one of the largest homebuilders in the U.S., has filed an objection in the Sitzer/Burnett commission lawsuit following settlements with Anywhere , RE/MAX and Keller Williams. PulteGroup says that the company does not have enough information to adequately determine the amount of money it could recover, among other issues, according to a court filing reviewed by HousingWire.

Sales 439
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Existing-home sales drop in March as high rates stun homebuyers

Inman

Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors.

Sales 176
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Grow your origination volume in all markets with non-QM

Housing Wire

The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). They have embraced non-QM as a means to stay competitive and protect their referral base. The bottom line is that all originators need a wide array of products to compete.

Marketing 409
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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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Realtor.com campaign makes pitch for buyer representation

Inman

The campaign will roll out across print and digital media and comes against the backdrop of commission disruption and intense competition among portals.

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How AI will transform the mortgage and appraisal industries

Housing Wire

Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. With AI’s capacity to perform complex reasoning and manage autonomous operations, it is critical to explore how this technology can reshape industry standards, enhance operational efficiency, and how we as an industry manage its inherent risks.

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Weeklong BoomTown outage was caused by hackers, CEO confirms

Inman

On Wednesday, executives told customers that a "security incident involving a malicious third party" caused the outage that has disrupted thousands of brokers and agents since last week.

Agents 149
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First Federal Bank to acquire Watson Mortgage Corp.

Housing Wire

Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., expanding its mortgage retail lending footprint in the communities in which it operates. The financial details of the deal were not disclosed. First Federal Bank has 25 branches in the Southeast and operations in the Midwest, including mortgage centers in Jacksonville, Florida ; Alpharetta, Georgia; Madison, Wisconsin; and Overland Park , Kansas.

Banks 411
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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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2 buyers scramble to make a deal as the spring market sprints ahead

Inman

One Connecticut homebuyer is preparing for marriage. Another in Virginia is healing from a divorce. Both tell Inman the struggle to find a home this spring is real — and the clock is ticking.

Marketing 147
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Former academy resumes role as Funding Longevity Task Force

Housing Wire

The Academy for Home Equity in Financial Planning housed at the University of Illinois Urbana-Champaign (UIUC) will return to being known as the Funding Longevity Task Force , and it will “mobilize as needed if there are any regulatory changes or major changes within the reverse mortgage industry,” according to a representative for Mutual of Omaha Mortgage.

Equity 395
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New build-to-rent homes hit a new high in 2023

Inman

A total of 27,500 build-to-rent houses in the United States were completed in 2023, according to a new report from RentCafe.

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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. The report, based on loan-level data from Fannie Mae and Freddie Mac , shows that the dollar amount of loan repurchases peaked in the second quarter of 2022, at $630 million for Freddie Mac and $593 million for Fannie Mae.

Loans 405
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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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Big Florida real estate brokerage is selling its mortgage division

Inman

First Federal Bank continues expansion of its nationwide mortgage lending operations with deal to acquire Watson Mortgage Corp. and investments in digital solutions.

Mortgages 141
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Floify integrates with verifications platform Truv 

Housing Wire

Digital mortgage automation solutions provider Floify is partnering with Truv , a consumer-permissioned data platform, the company announced on Wednesday. The integration allows mortgage lenders to verify income and employment seamlessly as borrowers apply for a loan. Procuring verification of income (VOI) and verification of employment (VOE) reports at the point of application help lenders accelerate and streamline the application process.

Banks 385
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Highest Paid Occupations in Construction in 2023

Eye on Housing

Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest May 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median wage is $48,060, while the top.

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Elevated mortgage rates, home prices harm affordability: Redfin

Housing Wire

The median monthly housing payment for U.S. homebuyers rose to a record $2,775 during the four-week period ending April 14, up 11% year over year, according to a Redfin report. The recent hotter-than-expected inflation reading sent mortgage rates upward. On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier.

Mortgages 348
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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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Windsor Terrace Locals Want a Shorter, More Affordable Arrow Linen Project

Brownstoner

Locals called for proportional and contextual development in Windsor Terrace -- rather than high-rises that could set precedent for the neighborhood and beyond -- at a heated community meeting on a proposed 13-story development on Tuesday night. More than 200 residents from Windsor Terrace and surrounding neighborhoods packed Shepherd’s Hall… Read More > The post Windsor Terrace Locals Want a Shorter, More Affordable Arrow Linen Project appeared first on Brownstoner.

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FundingShield’s Ike Suri on the limits of AI in fighting fraud

Housing Wire

Editor in Chief Sarah Wheeler sat down with Ike Suri, chairman and CEO of FundingShield, to talk about rising fraud risks, what keeps him up at night, and why AI is still far from helpful in his business of protecting clients. Sarah Wheeler: FundingShield just released its Q1 Fraud report , which showed that nearly half of the loans processed in the first quarter showed fraud risks.

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Still standing: Realtor resilience for challenging times

Inman

Need a pep talk? Coach Darryl Davis offers a little wisdom to help you remember your value and navigate the difficult waters of client service.

MLS 140
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Understanding the Importance of Septic Inspections as a Buyer and Homeowner

RIS Media

Septic tank inspections are crucial for any homeowner considering the purchase of a house with a septic system. I will cover the inspection process, identify who should perform it and explain its importance. A septic system handles a home’s wastewater, making its condition vital for property value and health standards. Inspections can prevent future expenses… The post Understanding the Importance of Septic Inspections as a Buyer and Homeowner appeared first on RISMedia.

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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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Nimble powers up prospecting with PhoneBurner

Inman

Nimble, a CRM company, has integrated the features of phone call automation company PhoneBurner to enhance how users stay in touch with clients.

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Nothing but Full Service-Plus Works for Kansas City Team

RIS Media

Erin Peel remembers poring through the pictures in her mother’s heavy and closely guarded MLS book when she was just a kid in Kansas City – and while her mom left the real estate business after several years, the image of all those lovely homes stayed with her. Her path to real estate was not… The post Nothing but Full Service-Plus Works for Kansas City Team appeared first on RISMedia.

MLS 124
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Teams Spotlight: Andrew Warburton, The Warburton Team

Inman

Find out how team leader Andrew Warburton and The Warburton Team promote the ideal of homeownership for everyone.

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The Buyer-Agent Playbook: How Mortgage Mastery Can Boost Your Value Prop

RIS Media

The Buyer-Agent Playbook is a new iteration of RISMedia’s biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents with insights and information to ensure they not only survive but thrive in these challenging times.

Agents 122
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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.