Fri.Apr 19, 2024

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Prices for luxury homes soared in the first quarter 

Housing Wire

Luxury home prices in the U.S. surged by 8.7% year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. In comparison, prices for non-luxury homes rose by 4.6% to a median of $345,000, which is also a record high. Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile.

Equity 452
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Top portal rivals show mutual support for buyer agency

Real Estate News

This week, Zillow CEO Rich Barton praised Realtor.com CEO Damian Eales’ latest push to educate homebuyers about changes coming to the industry.

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Ginnie Mae denies majority of complaint in Texas Capital Bank lawsuit

Housing Wire

Ginnie Mae has filed a point-by-point response to the initial complaint of the case brought against it by Texas Capital Bank (TCB), which alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Banks 410
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Inventory is way up in Florida — but prices are still rising

Real Estate News

Active listings are back to pre-pandemic levels, but home prices — and home insurance costs — keep going up, creating a tough market for buyers and sellers.

Marketing 261
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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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MBA appoints director of associate membership

Housing Wire

Alicia Goncalves has joined the Mortgage Bankers Association (MBA) as director of associate membership, the trade association announced on Friday. In this role, Goncalves will serve as the primary point of contact for MBA’s associate members, supporting their business efforts and enhancing their engagement with MBA. “Alicia is a passionate industry advocate who brings nearly two decades of expertise and success in the mortgage business,” Laura Hopkins, MBA’s vice president of membership, said in

Mortgages 396
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People on the Move: Chicago Association of Realtors president resigns

Real Estate News

Drussy Hernandez said the move was necessary due to “external professional obligations.” CAR president-elect Erika Villegas will take over the role on May 15.

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Luxury home prices have reached new heights: Redfin

Inman

With a recent boost to inventory and steady demand for high-end properties, luxury homeowners are ready to cash out on existing homes and use their cash power to buy a new home, fueling price growth.

Mortgages 181
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Racial disparity in appraisals continues to improve

Real Estate News

After encouraging reports from 2022, new data shows the appraisal gap continued to shrink throughout much of the U.S. in 2023.

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7 strategies to turn today’s bad economic news into more deals

Inman

Frustrated and anxious about economic conditions? Trainer Bernice Ross writes that, instead of waiting for change, agents can move forward with confidence by following these strategies.

Agents 171
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Reliance Launches New Custom Brokerage Website for Hegg, REALTORS® Inc.

RIS Media

Reliance—a leading U.S. real estate technology company—has partnered with Hegg, REALTORS® Inc. to unveil the South Dakota-based real estate brokerage’s new website, featuring Reliance’s cutting-edge hyperlocal search engine. The oldest real estate company in South Dakota, Hegg is a part of Edina Realty and a Berkshire Hathaway affiliate, according to a release.

Brokerage 128
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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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Gone, not forgotten: The Oklahoma City bombing 29 years later

Inman

Kari Watkins, Chris Fleming and Donna Weaver were forever changed by the April 19, 1995, Oklahoma City bombing. Twenty-nine years later, they reflect on life since.

Marketing 164
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Setting the Stage for Smoother Real Estate Transactions

RIS Media

Above, John Coake. Last fall, Compass acquired Realty Austin and Realty San Antonio—a boutique firm with four offices boasting two decades of familiarity and success in their respective Texas markets. According to John Coake, the newly acquired company’s head of sales and broker associate, the move provides a unique opportunity. “Joining Compass has elevated our… The post Setting the Stage for Smoother Real Estate Transactions appeared first on RISMedia.

Staging 126
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Digital insurance marketplace Matic grows mortgage clientele

Inman

With new clients including USA Mortgage and New American Funding, Matic says it's doing business with more 100 mortgage lenders and servicers that together process 20 percent of U.S. home loans.

Mortgages 160
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Most Seattle-area renters report big rent hikes in the past 12 months

Seattle Times Real Estate

Fifty-three percent of Seattle-area renters saw their monthly rent jump more than $100 in the past year, according to a new survey, FYI Guy writes.

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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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Agents maneuver a labyrinthine legal landscape: The Download

Inman

There's been a heapin' helpin' of new developments in the commission lawsuits. Here's how to pivot and be ready for whatever comes next.

Agents 169
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Leading Economic Indicators Fall Slightly in March

RIS Media

The Leading Economic Index (LEI) fell 0.3% in March to 102.4, a reverse from February’s slight increase, according to the latest release from The Conference Board. March’s LEI is down 2.2% over the six-month period between September 2023 and March 2024—down from its 3.4% contraction over the previous six months. February’s 0.2% increase was the… The post Leading Economic Indicators Fall Slightly in March appeared first on RISMedia.

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You have 3 brokerage models to choose from. Which works for you?

Inman

Once you've passed your real estate exam, broker Joseph Santini writes, your first order of business will be deciding what type of brokerage will serve you best in your new career.

Brokerage 154
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RISMedia’s 2024 Power Broker Report: Continued Pain, Then Hopes of Gain

RIS Media

Inflation. Interest rates. Inventory shortage. Add to that a court decision that found major real estate players guilty of price fixing—along with the contagion of copycat lawsuits that ensued—and 2023 goes down as potentially the most trying year in the history of residential real estate. Plagued by a post-pandemic housing recession that is stretching into… The post RISMedia’s 2024 Power Broker Report: Continued Pain, Then Hopes of Gain appeared first on RISMedia.

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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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‘RHONY’s’ Erin Lichy heads to Compass to launch new team

Inman

The reality TV star has left the Eklund Gomes Team at Douglas Elliman to start the Erin + Alex Team at Compass with the firm's Alexandra Hedaya. The team will operate in New York, the Hamptons and Florida.

Brokerage 158
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BoomTown Confirms System-Wide Hack by Third-Party

RIS Media

BoomTown ROI, a real estate proptech company, confirmed Thursday that the cause of a multi-day system outage affecting potentially thousands of real estate professionals, was a system-wide hack from a malicious third-party source that began on April 10. The company, which provides real estate management software including IDX websites, lead generation and management and CRM… The post BoomTown Confirms System-Wide Hack by Third-Party appeared first on RISMedia.

MLS 119
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Proptech investment is way down — but these 4 areas still see demand

Inman

AI, green building and energy transition, and property and transaction management solutions are still seen as stable investments by VC firms, recent reports show, despite an overall decline in investments in proptech.

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Oklahoma Brokerage Affiliates with Better Homes and Gardens Real Estate

RIS Media

Better Homes and Gardens Real Estate The Platinum Collective, based in Newcastle, Oklahoma, is the latest firm to join the lifestyle real estate brand. The white-glove full-service company assists clients in a wide range of real estate transactions, including assistance with luxury residential listings, ranch and rural properties, new construction, commercial sales, land sales and… The post Oklahoma Brokerage Affiliates with Better Homes and Gardens Real Estate appeared first on RISMedia.

Brokerage 119
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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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Commission lawsuits, updates, getting listings: Inman Top 5

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 167
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Is New York’s Eviction Bill a Compromise? Or Just More Pain for Landlords and a Blueprint for Other States to Follow?

Bigger Pockets

New York State legislative leaders have agreed on a preliminary housing deal aimed at tackling affordability and supply problems, which are especially severe in New York City.

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Riley Warwick on Aspen’s ultra-hot market and that $108M sale

Inman

Warwick recently double-ended Colorado's first-ever, six-figure sale in the representation of an off-market property on Aspen's picturesque Willoughby Way. He shared with Inman what makes the market so hot.

Sales 148
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New-Home Mortgage Applications Jump in March Despite Fewer Sales, MBA Reports

RIS Media

In a mixed bag for housing, mortgage applications for new homes jumped in March, while new-construction sales simultaneously fell amid affordability woes, according to the Mortgage Bankers Association (MBA). Mortgage applications for new-home purchases rose 6.2% in March compared to the same period last year, according to data from the MBA’s Builder Application Survey (BAS).… The post New-Home Mortgage Applications Jump in March Despite Fewer Sales, MBA Reports appeared first on RISMedia.

Sales 116
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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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Build bridges with these answers to frequent NAR settlement queries

Inman

Don't get defensive and burn bridges when you talk about your commission and recent settlements. Jimmy Burgess shares talking points to educate seller clients and the public about the state of your business.

MLS 145
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Partnering Is a Great Way to Invest—As Long as You’ve Worked Out These 13 Details

Bigger Pockets

In the last 16+ years, I’ve worked with many investors. Occasionally, I am asked about two or more people pooling their resources to buy properties.

As-is 115
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Defendants fight to get homebuyer commission suits tossed

Inman

The National Association of Realtors, Keller Williams, Anywhere, RE/MAX, Compass, eXp and others offered a slew of arguments for why the Batton 1 and Batton 2 cases should be thrown out.

MLS 145
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Seattle proposal to add affordable housing, support nonprofits struggles

Seattle Times Real Estate

A plan to allow developers to build denser housing when they partner with community groups and set aside affordable units faces a tough path at City Hall.

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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.