Eye on Housing
APRIL 19, 2022
Single-family starts permits declined in March, as higher interest rates weighed on housing affordability and produced a fourth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Nonetheless, the resale market lacks inventory supporting ongoing demand for new construction.
Housing Wire
APRIL 19, 2022
The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to FHA’s mortgage lending policies. For now, only borrowers financially impacted by the pandemic can opt for the loss mitigation option, and it may only be used in combination with a partial claim option.
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Keeping Current Matters
APRIL 19, 2022
Being intentional and competitive are musts when buying a home this season.
Housing Wire
APRIL 19, 2022
On Tuesday, the U.S. Census Bureau released their report for March, showing a solid number of housing permits and starts — but these were boosted by multifamily construction. In addition, this data lags behind the current reality of a housing market dealing with much higher mortgage rates. The previous month’s data were revised higher; on the surface, this is a favorable report with 1.873 million housing permits and 1.793 million housing starts.
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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.
Sotheby's International Real Estate
APRIL 19, 2022
Bringing to mind a string of pearls strewn across a 40-acre knoll, this singular wine country estate comprises three serene pavilions linked by breezeways and loggias. Five years in the planning, it is the creation of illustrious designer Rela Gleason working in strong collaboration with architects John Sease and Bobby McAlpine. A once-in-a-lifetime property, it speaks an architectural language never before spoken.
Housing Wire
APRIL 19, 2022
A force reduction of about 4,000 workers since December apparently wasn’t enough to stop the bleeding for Better.com. The digital lender on Tuesday morning announced that it would be executing its third major layoff, though it did not disclose how many workers would be shown the door. Sources familiar with the layoffs said it would be “significant” and felt across the company’s divisions, including at Better Real Estate , a brokerage-like venture the company launched last
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Housing Wire
APRIL 19, 2022
At an investor conference last fall, Redwood Trust Inc. CEO Christopher Abate outlined the company’s strategy to expand its reach in existing markets while also seeking out strategic investments in new markets. Those new investments include venture capital plays, particularly in the financial-technology arena. Abate described technology as being key to “building efficiencies” to accomplish the real estate investment trust’s goals.
HomeLight
APRIL 19, 2022
The role of a real estate agent is constantly evolving. Whether it’s adapting to new technology or keeping up with the changing markets, real estate agents have to be on their toes and willing to adjust to an ever-changing landscape. Today, real estate agents face competition from iBuyers (instant buyers) and online listing platforms, neither of which requires an agent to use — and both of which beg the question: Will real estate agents be replaced?
Housing Wire
APRIL 19, 2022
The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. But the educational foundation and understanding of mortgage products, rules and regulations can differ dramatically between depository LOs and their nonbank counterparts.
Real Trends
APRIL 19, 2022
Bonnie Williamson never intended to be a real estate agent. As a French major and Russian and political science minor at the University of Michigan, Williamson had initially entertained the idea of going into politics. Instead, she was recruited out of school as one of Pan Am ’s first Russian speaking stewardesses. Williamson was on the airline’s inaugural flight to Moscow in 1968.
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.
Housing Wire
APRIL 19, 2022
Fannie Mae has wrapped up its fourth Credit Insurance Risk Transfer (CIRT) deal of the year, transferring nearly $845 million in mortgage credit risk to a group of private insurers and reinsurers. The transaction, CIRT 2022-4, involved a pool of 76,600 single-family mortgage loans with an outstanding principal balance of $23.1 billion. Fannie Mae will retain risk for the first 45 basis points of any loss on the $23.1 billion loan pool.
The Mortgage Report
APRIL 19, 2022
Don't wait to refinance until after the Fed raises rates. You could save serious money by locking your new refinance rate before May 4.
Housing Wire
APRIL 19, 2022
Publicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry. In a filing with the Securities and Exchange Commission on Tuesday morning, the Nima Ghamsari-led fintech said its “workforce reduction plan” would eliminate approximately 200 positions across the company. The company, whose white-label technology powers mortgage applications on the websites of major lenders such as Wells Fargo and U.S.
RIS Media
APRIL 19, 2022
As a team leader and coach with Workman Success Systems, one of the recurring challenges I hear from agents is that the market is being inundated with new agents. Listing inventory is already lean, and every prospect seems to already “know” an agent. This is not a new phenomenon, however, and competing with other agents is a given in this industry. As of March 2022, there were 1.5 million NAR members, a gain of almost 100,000 members from March 2021.
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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.
HomeLight
APRIL 19, 2022
Gone are the days where a simple handshake could solidify a working agreement between a buyer and their real estate agent. Instead of a handshake, buyer’s agents are presenting homebuyers with a document called a “buyer broker agreement” — and you might not know what that is! If this is your first time buying a house, the buyer-broker agreement is just another document in a long list of others that require your John Hancock.
RIS Media
APRIL 19, 2022
It’s time to get back to basics and examine your business. Are you nurturing your sphere of influence? If not, it’s time to begin. To start, your sphere of influence (SOI) is a list or database of people you know. Agents can greatly benefit from organizing contacts into a CRM or customer relationship management database. Many software programs are available to help everyone from the novice to the expert manage, nurture, and retain clients.
HomeLight
APRIL 19, 2022
Even if your bathroom is small, outdated fixtures and cracked tile can quickly make it a place nobody wants to spend their time. Remodeling can not only increase your enjoyment of the space, but it may also increase the value of your home. We’ll break down the 5×7 bathroom remodel cost and give our top tips for making the most out of a small space without breaking the bank.
RIS Media
APRIL 19, 2022
With ongoing home price increases, rapidly rising interest rates and higher construction costs, the National Association of Homebuilder’s (NAHB) measurement of confidence and sentiment has hit a seven-month low after dropping every month this calendar year, as most experts expect the historic inventory crisis to last at least through the rest of 2022 driven particularly by a dearth of entry-level homes, “The housing market faces an inflection point as an unexpectedly quick rise in interest rates
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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.
The Mortgage Report
APRIL 19, 2022
Today’s mortgage and refinance rates Average mortgage rates rose again yesterday. According to Mortgage News Daily’s reckoning, that took them back to last Monday’s level, which was the highest in […].
RIS Media
APRIL 19, 2022
Total commercial and multifamily mortgage borrowing and lending is expected to hold steady at a projected $895 billion of total lending in 2022, according to the latest forecast released this week by the Mortgage Bankers Association (MBA). This figure is roughly in line with 2021 totals ($891 billion), according to MBA. Key findings: – Multifamily lending alone (which is also included in the total figures above) is expected to fall to $418 billion in 2022—down 11% from last year’s estimate
Fancy Pants Homes
APRIL 19, 2022
A unique new listing in Los Angeles has some serious fairy tale vibes. Dubbed Chateau Lemoine, the stunning estate was originally constructed in 1926 and is a prime example of storybook architecture. Located in the beautiful Brookside neighborhood of Los Angeles, the extensively remodeled home features a list of luxurious features and endless period elements.
RIS Media
APRIL 19, 2022
While there are numerous factors that go into leading a successful real estate team, one that you absolutely must utilize is a value proposition. Identifying your value proposition and putting it into action will make your business stand out and keep your agents happy, productive and loyal. It’s an essential component in taking your team to the next level.
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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.
App Folio
APRIL 19, 2022
Accidents and damages can happen when managing or owning rental properties. That’s why it’s important to make sure your property.
RIS Media
APRIL 19, 2022
One might argue that a “green” home is a sustainable home. However, a new Zillow report suggests that a sustainable home can also generate more green for sellers. According to the report, homes with eco-friendly features can sell faster than expected and for more money in some cases. The study found that electric vehicle chargers and drought-resistant landscaping can help a home sell more than nine days faster than similar homes.
App Folio
APRIL 19, 2022
The foundation of the property management business is, of course, rooted in people. It takes a village of employees to.
RIS Media
APRIL 19, 2022
For some real estate agents, For Sale By Owner (FSBO) properties can be challenging to prospect. For others, it’s an opportunity. In fact, this can become a very lucrative niche for those willing to get to work for their next listing. The reason that sellers opt for FSBO listings is often because they think they can earn more money, eliminating the commission from listing with a brokerage.
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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.
Tom Ferry
APRIL 19, 2022
Being a new real estate agent can be scary. You’re in a new world. You’re not receiving a salary. Real estate school barely taught you anything relevant to actually achieving success in this industry. There are plenty of resources out there that can help you break into the real estate world. In this post, we’ll […]. The post 19 Essential Tips for New Real Estate Agents appeared first on Tom Ferry.
Brownstoner
APRIL 19, 2022
In the News They Expected Luxury. They Got Leaky Ceilings and Broken Elevators [NYT] Not Your Grandfather’s Skyscraper [NYT] Grocery Apps Try to Shed NYC Delivery Hubs’ ‘Crackhouse’ Reputations [NYP] Brooklyn Is on the Forefront of NYC's Passive House Movement [Eagle] City Allocates $11 Million to Make Streets Cleaner and Improve Mobility [amNY] Where to Eat… Read More > The post Daily Links: City Announces $11 Million Dedicated to Cleaner Streets and Bike Lanes appeared first on Brown
RIS Media
APRIL 19, 2022
U.S. rent prices continued their double-digit gains in February, rising 13.1% from one year earlier to hit another new record as the highest in the history of the index, according to CoreLogic’s latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. According to the report, warmer areas of the country again posted the largest price hikes, with rents in Miami up 39.5% from February 2021.
Brownstoner
APRIL 19, 2022
Starting this summer, a renovated Dumbo hotel will be home to hundreds of people and families as 90 Sands Street reopens with 490 affordable and supportive housing units — and the lottery for nearly 200 affordable units is open now. Until June 2, New Yorkers earning between $18,000 and $128,000 per… Read More > The post Lottery Launches for Affordable Housing at Former Witnesses’ Dorm With Supportive Units in DoBro appeared first on Brownstoner.
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