Wed.Dec 21, 2022

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Record mortgage rates killed existing home sales in November

Housing Wire

Existing home sales slid for the 10th consecutive month in November, as homebuyer demand continued to cool. The seasonally adjusted sales rate for existing homes fell 7.7% month over month in November to a rate of 4.09 million , according to a report from the National Association of Realtors (NAR) released Wednesday. On a yearly basis, existing home sales are down 35.4%.

Sales 382
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What To Expect from the Housing Market in 2023

Keeping Current Matters

The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates.

Marketing 218
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Have we found the bottom in existing home sales?

Housing Wire

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Confused by this? I hear you; let’s dive deeper into today’s report. From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NA

Sales 525
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Canadians Continue To Flee Real Estate Bubbles To More Affordable Provinces

Better Dwelling

Canadians are still dumping expensive provinces for, well, less expensive ones. Statistics Canada (Stat Can) released its latest interprovincial migration estimates for Q3 2022. The biggest losers of residents to other provinces were BC and Ontario, the former printing its first net outflows in nearly a decade. The biggest winners were Alberta and Nova Scotia, […].

Banks 137
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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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Figure’s plan to buy a mortgage bank via SPAC is dead

Housing Wire

Figure Acquisition Corp. I , a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision. The NYSE notified Figure on December 19 that it is “determined to commence proceedings to delist the company’s warrants from the NYSE and that trading in the company’s warrants would be suspended immediately,” ac

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loanDepot notches partial win in scrap with CrossCountry

Housing Wire

loanDepot registered a partial win against CrossCountry in a trade secret and employment-separation dispute. . The California-based mortgage lender sued its rival in April 2022 claiming that six former employees — Steve Schneider, Cindy Smolin, Samantha Siegel, Fernanda Baske, Bob Bowman, and John Noyes — left the company to join CrossCountry after accessing, downloading and taking confidential client information and breaching their employments agreements and fiduciary duties. .

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Savvy Ways to Increase Your Home’s Value

Coldwell Banker

Here are a few of our favorite impactful and straightforward means of boosting your home’s value and appeal over the short or long term. The post Savvy Ways to Increase Your Home’s Value appeared first on Coldwell Banker Blue Matter.

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UWM rolls out new temporary buydown options for jumbo loans

Housing Wire

United Wholesale Mortgage (UWM) has expanded temporary buydown options for jumbo loans at a time when mortgage rates are still high and borrowers have increased negotiating power. UWM is one of many lenders to roll out temporary buydowns in recent months in a bid to drum up more business. The Detroit, Michigan-headquartered lender will offer borrowers of prime jumbo loans an option to reduce their mortgage rates by 2% during the first year of the loan and by 1% in the second year with a 2-1 buyd

Loans 391
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5 Tips for a Healthy Work-From-Home Routine

Coldwell Banker

If you’re looking for ways to improve your 9-to-5 routine, try these five simple ideas. The post 5 Tips for a Healthy Work-From-Home Routine appeared first on Coldwell Banker Blue Matter.

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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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Ready To Run Down a Dream? Buy Tom Petty’s Malibu Beach House for $9.8M

Realtor.com

Getty Images / Realtor.com Tom Petty ‘s three-bedroom beach house in Malibu, CA , is listed for $9,850,000. Listing agent Chris Cortazzo , of Compass, originally sold the oceanfront compound to the Grammy winner in 2010 for $6.8 million. And he’s back to find its next owner. According to the Wall Street Journal , the “American Girl” singer wrote and recorded many songs at the shorefront abode, including “Something Good Coming.” From this cabin-style retreat on

As-is 106
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Zillow Local Predictions

BubbleInfo

As the national leader of real estate, Zillow is attempting to guide people with data, thankfully. Their Home-Value Index has been decent, and I’ll take the -7% for San Diego… which means our premium areas haven’t felt much decline at all. Their comment on current conditions isn’t ground-breaking but at least it offers some hope: Activity […].

As-is 105
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Existing Home Sales Decline Further in November

Eye on Housing

As rapid rising mortgage rates continue to weaken housing demand, the volume of existing home sales has declined for ten consecutive months as of November, according to the National Association of Realtors (NAR). This is the longest run of declines since 1999. While mortgage rates have retreated in recent weeks due to recession concerns, they are likely to see another.

Sales 107
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Luxury homebuyer trends to know going into 2023

Real Trends

Going into 2023, many agents are curious about what the market will look like. Although demand has slowed down and available inventory has seen an increase, luxury real estate remains an outlier. When it comes to high-end housing, inventory hasn’t caught up with current demand. . With 2023 rapidly approaching, a serious demand for luxury listings and too few builders are expected to keep prices from seeing any dramatic declines.

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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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Windsor Terrace Post War Two-Bedroom With Parquet Floors, Five Closets Asks $895K

Brownstoner

Offering a spacious layout with a large foyer, two bedrooms and a dining alcove, this Windsor Terrace apartment also has a location near Prospect Park. On the first floor of the six-story 202 Seeley Street, there are parquet floors, five closets and all white finishes throughout the unit. Plans for the… Read More > The post Windsor Terrace Post War Two-Bedroom With Parquet Floors, Five Closets Asks $895K appeared first on Brownstoner.

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Can’t Escape the Chores: an Essential To-Do List for Realtors

Realty Biz

A realtor’s career implies a genuine journey jazzed up by brand-new challenges, adrenaline-fuelled missions, and (last-minute, but ultimately) glorious closings. In the meantime, your people skills get sharpened as you meet the most intriguing clients. And would you believe it? All of them require special treatment. . Don’t succumb to excessive aggrandizement!

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Old Meets New: 19th-Century Spanish Colonial Sparkles in Puerto Rico’s Old San Juan

Realtor.com

Realtor.com Are the beaches of the Caribbean calling your name, or more specifically, the magical coastline of Puerto Rico? Then you might just be interested in this luxurious five-bedroom Spanish Colonial located in the heart of Old San Juan. Minutes from Condado Beach and the Miramar Arts District, this home was built in the 1800s and boasts an exceptional location in one of the Caribbean’s most vibrant cities.

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How to Finance Your Roof Top Solar Panels

Realty Biz

There’s a reason why 2.5 million homeowners — and counting — have already installed solar on their homes: it’s a great investment! Solar panel systems last for 25 years or more, offsetting most or all your electricity bill every month, and in many places, you can even make money by selling power back to your power company. Today, homeowners as far north as Connecticut and Pennsylvania are installing solar roofs because it makes good financial sense as well providing energy security.

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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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Home Design Trends for 2023

Coldwell Banker

Elevated Escapes and Outlandish Elements. The post Home Design Trends for 2023 appeared first on Coldwell Banker Blue Matter.

Design 109
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America Is Divided—by Home Prices: Here’s Where the Affordable Homes Are Hiding

Realtor.com

Photo-Illustration by Realtor.com; Photos: Getty Images (2) When it comes to demand for real estate, certain areas of the U.S. are hot—and others definitely are not. And the most in-demand spots right now aren’t those balmy climates you might presume people pine for this time of year. For the sixth month in a row, warm, sunny, formerly desirable Western markets are nowhere to be found in the Realtor.com® 20 Hottest Markets rankings.

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Buying a House Is “In the Bag” for Millennials and Gen Z

Lighter Side of Real Estate

Many members of the Millennial and Gen Z generations would love to buy a house of their own. But according to this CNBC article , they simply can’t afford to do so. Not only can they not afford to buy a house, many are moving back in with their parents, as Forbes recently reported , due to inflation, low-paying jobs, college debt, high rents, and the general monthly costs of living on your own.

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The Definitive Real Estate PPC Guide

Agent Fire

Learn about real estate PPC advertising, including helpful tips and tricks to kick off a successful paid marketing campaign! The Definitive Real Estate PPC Guide is just one of many great real estate strategies on The Spark.

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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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5 Things Your Insurance Company Wants You To Know About Water Damage

Realtor.com

Getty Images If you’ve ever found yourself standing ankle-deep in water wondering how on Earth your bathroom turned into a kiddie pool, you’re not alone. In fact, water damage is one of the most common reasons why homeowners file insurance claims. Most homeowners insurance policies cover sudden and accidental water damage. That includes any damage done to your home’s structure, personal belongings, and other structures on the property.

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Skyrocket your sales trajectory with this mindset trick

Real Trends

What’s the difference between internal accountability and external accountability? Understanding the answer will change how you think, what you do daily, and how quickly you find the success you desire. Spoiler alert: When you practice internal accountability at the same level as you’re already executing your external accountability, you will gain clarity and lose stress.

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Daily Links: Construction Starts on Mega East New York Affordable Housing Development

Brownstoner

In the News Secret Society Tied to Underground Railroad Fights to Save Bed Stuy Home [NYT] A Little Boy’s Hanukkah Wish Grew Into a Light Show in Midwood [NYP] NY Advocates, Lawmakers Renew Push for ‘Good Cause’ Eviction [NYDN] Legal Aid Society Wants Clarity After Evidence Destroyed in Red Hook Fire [BP] Work Begins on… Read More > The post Daily Links: Construction Starts on Mega East New York Affordable Housing Development appeared first on Brownstoner.

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Senate banking chair flirts with the possibility of banning crypto

The American Genius for Real Estate

Banning crypto is something we didn't think we would hear about in this lifetime, but yes, the popular currency is in question.

Banks 96
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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.