Tue.Aug 22, 2023

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Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

Keeping Current Matters

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then.

Mortgages 203
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Opinion: Title companies committed to promoting homeownership for all

Housing Wire

Prospective homebuyers face an obstacle course of challenges – from financing to logistics – once they make the decision to purchase a home. This process can be even more difficult to navigate for those with limited financial resources, first-time homebuyers , and minority borrowers, especially in today’s competitive real estate environment in which prices are high, homes sell fast, and supply is at an all-time low.

Title 370
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A wave of housing forecast updates point the same way: up

Real Estate News

Researchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.

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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations.

Finance 369
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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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KW to slash profit sharing for former agents

Real Estate News

Starting next July, former KW agents who compete against the company will see their profit share distribution reduced from 100% to 5%.

Agents 246
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No.1 agent in Georgia moves to Ansley Christie’s

Housing Wire

Atlanta-based Christie’s International Real Estate franchise affiliate Ansley Christie’s International Real Estate poached Georgia’s top performing agent Shirley Gary and 25 of her agents, the company announced in a press release on Thursday. Gary and her agents are coming from an Engel & Völkers franchise she previously owned which had offices in Buckhead and north Fulton County, Georgia.

Agents 368

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Foreclosure inventory hits 15-month low in July

Housing Wire

Foreclosure inventory hit a 15-month low in July representing the continued strength of mortgage performance. Loans in active foreclosure fell to 220,000 – the fewest since just after the end of federal foreclosure moratoria – and were down 63,000 or 22% from February 2020, prior to the pandemic, according to Black Knight ’s mortgage performance statistics.

Staging 366
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MLSs are coming back online after 2 weeks in the dark

Real Estate News

Rapattoni is gradually restoring service following a cyberattack that shut down the MLS service provider on Aug. 9.

MLS 231
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Mortgage forbearance improves in July

Housing Wire

The total number of loans now in forbearance decreased by 5 basis points to 0.39% of servicers’ portfolio volume in July from 0.44% May, according to the Mortgage Bankers Association ’s (MBA) monthly loan monitoring survey. The MBA estimates about 195,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to about 7.9 million borrowers since March 2020.

Mortgages 354
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The Agency rides into Kentucky with Louisville franchise

Inman

As the luxury brokerage continues to expand its Midwestern presence, it has strategically moved into Kentucky with Managing Partner Jason Farabee leading the new office, according to the company.

Brokerage 148
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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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Home sales drop in July as high interest rates spook buyers

Housing Wire

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. The National Association of Realtors (NAR) suggested a 2.2% month-over-month drop from June, a seasonally adjusted annual rate of 4.07 million, according to its latest report. Despite a sharp drop in home sales compared to the year-earlier period, the median existing-home sales price rose 1.9% from one year ago to $406,700.

Sales 338
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Rapattoni hack illustrates the need for this 13-step contingency plan

Inman

Real estate-related companies are frequent targets for cybercrime because of their decentralized structure and high-dollar-value services, writes broker Leslie Guiley. Here's how to protect yourself and your business.

Brokerage 142
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BHGRE President Ginger Wilcox to take the stage at HW Annual 2023

Housing Wire

Ginger Wilcox’s intricate knowledge of the housing market is almost unparalleled. Her industry experience is vast and includes leadership roles across the housing landscape. Wilcox has a unique skillet and is laser-focused on how to best serve the end consumer. A look at her list of accomplishments includes serving as the head of industry marketing and relations for Trulia , co-CEO and chief revenue officer at RealSure and chief experience officer at Homepoint.

Staging 331
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Coldwell Banker’s ‘Dream’ ad campaign revs up the competition

Inman

The refreshed campaign features a "Move Meter Match-Up" extension that will encourage NFL game viewers on streaming services to compare cities of the different teams from a real estate angle.

Brokerage 141
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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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CEO Exchange Preview – Shaking Up Your Business Model: How to Stay Current as the Industry Evolves

RIS Media

As the needs of today’s agents and consumers continue to evolve, brokers must adapt their operations to meet the demands of changing times. An eclectic group of progressive brokers will share how they’ve shaped their business models for modern times during the panel discussion, “Shaking Up Your Business Model: How to Stay Current as the… The post CEO Exchange Preview – Shaking Up Your Business Model: How to Stay Current as the Industry Evolves appeared first on RISMedia.

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13K NYC rent-stabilized units have been vacant since 2021: Study

Inman

NYC's Independent Budget Office's latest study found 13,362 rent-stabilized units have been empty for at least two years. They said it's "impossible" to know if landlords are justifiably keeping them unrented.

Marketing 141
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Cost of Building a House: Expert Guidance

Maximum Exposure Real Estate

How Much Does It Cost to Build a House? The cost of building a house can vary depending on several factors. Factors such as location, house size, quality of materials, architectural design, and labor costs can all affect the overall cost. We will explore these factors and provide a breakdown of the costs of building […] The post Cost of Building a House: Expert Guidance appeared first on Maximum Real Estate Exposure.

Design 98
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Compass agent says she was axed for speaking out at school board

Inman

California-based agent Janet Roberson told Inman she was dismissed from Compass after her testimony at a school board meeting caught the attention of her team leader earlier this month.

Agents 137
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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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Report Finds Sales Are Down, but Sellers Are Still Getting Asking Price

RIS Media

July marked the first month-over-month decline in home sales since April, signaling that perhaps the peak of summer buying is beginning to taper, according to RE/MAX’s latest national housing report. Growth in the inventory of homes for sale inched up alongside modest increases in interest rates despite strong consumer demand. RE/MAX’s report stated that July… The post Report Finds Sales Are Down, but Sellers Are Still Getting Asking Price appeared first on RISMedia.

Sales 98
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Existing-home sales fall in July as low inventory, high rates take toll

Inman

Weighed down by low inventory and high mortgage rates, existing-home sales fell in July, to 4.07 million — or 16.6 percent lower than a year earlier, according to data from the National Association of Realtors.

Sales 134
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Rising Number of Rentals Drives Down Rent Prices

RIS Media

Rent prices continued to decrease year-over-year for the third straight month, according to a new report from Realtor.com. Realtor.com’s rental report for July found that the median asking rent in the 50 largest metros increased $15 to $1,759, but remains down $18 from the peak 12 months ago. The July data also marks the first… The post Rising Number of Rentals Drives Down Rent Prices appeared first on RISMedia.

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Court rules Zillow falsely labeled REX listings as case heads to trial

Inman

Despite the ruling, Zillow said it looks forward to presenting its case to a jury and is "confident that the evidence will show that REX’s business failed for reasons unrelated to Zillow.

Brokerage 133
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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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Existing-Home Sales Activity Falls Further in July Amid Rate and Supply Hurdles

RIS Media

Existing-home sales took another hit last month as mortgage rates and a lagging inventory have continued to plague buyers bold enough to enter the market in the current conditions. That showed in the National Association of REALTORS®’ (NAR) latest report on existing-home sales. Sales of previously-owned homes slid by 2.2% in July to a seasonally… The post Existing-Home Sales Activity Falls Further in July Amid Rate and Supply Hurdles appeared first on RISMedia.

Sales 98
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MLS hacked? Here’s your 15 minute, stay-in-the-know plan

Inman

Trainer and marketing expert Rachael Hite shares a few tips and tricks that you can add to your weekly routine to help you create a solid plan B for reference if the MLS happens to crash.

MLS 132
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Embracing a Responsible Approach to Property Management AI

App Folio

AI solutions hold enormous potential to boost efficiency, streamline processes, and improve business outcomes, especially when implemented responsibly and in the right ways. Tune in to The Top Floor podcast to learn how.

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Are your real estate clients truly satisfied? Here’s how to make sure

Inman

The essence of garnering rave reviews and inspiring trust in your clients is taking responsibility, even when things don't go according to plan, trainer Bernice Ross writes.

Agents 130
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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.

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Higher Rates = All-Cash Market?

BubbleInfo

Could rates get so high that it turns into a cash-only market? It’s heading that way. Of the 118 closings this month between La Jolla and Carlsbad, 45% were all-cash, and it’s competitive. My buyers made a cash offer that was $101,000 over list on this one and didn’t make the final round.

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Here are the top 5 tips for landlords to retain their best renters

Inman

Happy tenants increase the chances they'll renew their leases while keeping investment properties occupied and cash flowing. Here's how to do it.

Investor 134
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There’s Still Time: Register for Fall Courses

RIS Media

Receive 50% off your first eligible course as a first-time student at NAR Academy at Columbia College. Early Fall registration ends August 27. Learn More. RPR® Data Creates Winning Videos Congrats to the winners of RPR®’s (Realtors Property Resource®) “How’s The Market?” Video Contest! Watch the winning videos and read all about the REALTORS® who… The post There’s Still Time: Register for Fall Courses appeared first on RISMedia.

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Xome partners with Plunk to deliver investment property data

Inman

Plunk's repair and renovation analysis tools will serve investors who frequent Xome, which also markets nontraditional listings, such as auctions, foreclosures and other investor-minded assets.

Investor 120
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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.