Thu.Feb 08, 2024

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Cost of Living in New York: A Guide for Homebuyers

HomeLight

If you’re considering a move to New York, you might want to get a good idea of the cost of living in the Empire State before making a decision. This guide will break down the cost of living in New York, from housing to food and healthcare costs. We’ll provide data from state cost of living index tools and how New York ranks in the nation for livability.

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Housing credit data in Q4 looks nothing like 2008

Housing Wire

People have been screaming about a housing bubble crash on social media sites for over 12 years. The truth is, U.S. housing credit looks very different than in 2005, 2006, 2007 or 2008. Homeowners have actually never looked better and the data from the Federal Reserve ‘s Quarterly Report on Household Debt and Credit shows why. Homeowners are not the people we need to be concerned about this time.

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CoStar to spend a billion dollars on marketing in fight for portal crown

Inman

The company plans to advertise during the Super Bowl and other major cultural events in what it describes as the "biggest marketing campaign in real estate history.

Marketing 194
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Mortgage rates show little movement as markets digest new economic data

Housing Wire

Mortgage rates stabilized this week despite newly released economic data. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, a slight increase from last week ’s figure of 6.63%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 5.90% this week, down from 5.94% during the prior week.

Mortgages 429
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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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Falling rates helped drive home price growth in Q4, NAR says

Inman

U.S. home prices shot up in 86 percent of the 221 metropolitan areas tracked by the National Association of Realtors and rose 3.5 percent in the fourth quarter, according to data released Thursday by NAR.

Brokerage 183

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Flagstar mortgages could help NYCB shore up its balance sheet

Inman

Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital.

Banks 180
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Mortgage delinquencies increase for second straight quarter: MBA

Housing Wire

Mortgage delinquencies kept rising slightly in the fourth quarter of 2023 as Americans continued to indulge in personal spending. But delinquency rates remain well below historic averages, according to new data from the Mortgage Bankers Association (MBA). Delinquent home loans on one- to four-unit properties rose to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of Q4 2023, up from 3.62% in the previous quarter but slightly below the rate of 3.96% a year earlier, accord

Mortgages 404
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Treasury releases proposed rule for reporting all-cash luxe sales

Inman

Real estate professionals who handle closings and settlements will be required to report information to the Treasury's Financial Crimes Enforcement Network when an all-cash residential sale is made to shell companies, legal entities and trusts.

Sales 172
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How to write a lead-winning, memorable real estate agent bio (+ examples)

Housing Wire

As a real estate agent, you may think clients should care more about their next home than your life story. And while that may be true, well-crafted real estate agent bios can build trust and credibility and serve as a powerful tool in an agent’s marketing arsenal — giving prospective clients. After all, prospective clients are trusting you with one of their biggest financial decisions.

Agents 401
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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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Collaboration isn’t a buzzword. It’s a strategic imperative

Inman

Is the path to prosperity in real estate paved by fierce competition, or does the real power lie in collaborative endeavors? Coaches Emily Bossert and Melanie Klein share how teamwork can create optimal outcomes.

Agents 172
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CSBS general counsel John Gorman dies after battle with cancer

Housing Wire

John “Buz” Gorman, a key figure in financial regulation for nearly 30 years, passed away on Monday following an eight-month battle with glioblastoma, a form of cancer. Throughout his tenure as general counsel for the Conference of State Bank Supervisors (CSBS), Gorman contributed to significant legislative milestones and nurtured the next generation of regulators.

Banks 396
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Mortgage rates lead to biggest pending sales drop since October

Inman

Rising interest rates and harsh winter weather have dampened homebuyer activity, leading to the biggest drop in pending sales since October. However, there's optimism for a rebound as spring approaches, fueled by increasing home tours and new listings.

Sales 164
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Q&A: George Morales on new role with Mortgage Cadence and why a big bank could enter reverse

Housing Wire

This week, Mortgage Cadence announced that it had appointed longtime reverse mortgage industry professional George Morales to serve on its sales team. The company is aiming to bring more reverse mortgage technology solutions to potential partners already in the industry and those that have yet to enter it. To understand the dynamics of his new role, RMD sat down with Morales to learn more about his individual and company goals, including the potential for a large national bank to become involved

Banks 392
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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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ERA Real Estate expands presence in NOLA with veteran-owned firm

Inman

Slidell-based firm Top Agent Realty is now part of ERA Real Estate. Military veteran Stephen Molero purchased the firm in 2013 and serves consumers throughout Southeastern Louisiana and the Mississippi Gulf Coast.

Agents 163
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House introduces ‘abusive’ trigger lead ban bill, MBA announces support

Housing Wire

A bipartisan duo of members in the U.S. House of Representatives this week introduced a bill targeting the “abusive” uses of mortgage trigger leads, a companion bill to a previously-introduced bill in the U.S. Senate. House Resolution (H.R.) 7297, also known as the “Homebuyers Privacy Protection Act,” seeks to “amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes,” according to the bill’s o

Mortgages 310
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A softer rental market isn’t enough to help hopeful homebuyers

Inman

The rental market is stabilizing with fewer landlords planning rent increases, according to Realtor.com's latest survey. But the rent slowdown won't significantly ease financial burdens for renters who are struggling to save for a down payment or qualify for a mortgage.

Marketing 159
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Home Equity Can Be a Game Changer When You Sell

Keeping Current Matters

Are you on the fence about selling your house?

Equity 242
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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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Forget what you think you know about holiday listings

Inman

To achieve extraordinary results, The Agency's Deedee Howard writes, sometimes it pays to ignore conventional wisdom and pursue a more strategic marketing plan.

Marketing 163
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When and Why Should You Get a Property Survey

RIS Media

Purchasing a home is a significant investment. It’s crucial to ensure that you clearly understand the property boundaries and potential issues that may affect your ownership. One essential step in the home-buying process is getting a property survey. We will explore the reasons for a property survey, when to complete one and what it entails.… The post When and Why Should You Get a Property Survey appeared first on RISMedia.

Title 137
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11 things I wish they taught agents in real estate school

Inman

Building a real estate business is about more than memorizing lists of terms and laws, Jimmy Burgess writes. Find out what it takes to launch smarter.

Agents 164
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California Regional MLS Now Offers Home Repair Estimate Tool TheQwikFix

RIS Media

California Regional MLS (CRMLS) now offers TheQwikFix, a service that allows agents to upload property reports and then receive detailed and competitively priced repair quotes from local, licensed contractors who are available to complete the job before or shortly after closing. To combat the time sunk into sourcing and booking multiple contractors to provide estimates… The post California Regional MLS Now Offers Home Repair Estimate Tool TheQwikFix appeared first on RISMedia.

MLS 123
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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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NYC real estate news site Brick Underground to close unless sold

Inman

The site started as an objective resource for renters and buyers moving to or living in New York City. Staff holds out hope for a sale this month.

Closing 163
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One Week Left to Participate in RISMedia’s Power Broker Survey

RIS Media

Time is running out to participate in RISMedia’s 36th Annual Power Broker Survey—the deadline is one week away, Feb. 16, 2024. The Power Broker Survey is the residential real estate industry’s preeminent report identifying and ranking the nation’s top brokerages based on sales-dollar volume and transaction sides. View the 2023 Power Broker Report online directory… The post One Week Left to Participate in RISMedia’s Power Broker Survey appeared first on RISMedia.

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Teams Spotlight: Ed Kaminsky, Kaminsky Real Estate Group

Inman

Troy Palmquist profiles luxury team leader Ed Kaminsky, a member of the council of eXp Luxury and founder of SportStar Relocation.

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Home Equity Down but Respectable in Q4 2023

RIS Media

In the fourth quarter of 2023, 46.1% of mortgaged residential properties were deemed equity-rich, meaning that nearly half of homeowners outright own a notable amount of their properties in comparison to the outstanding mortgage or debts associated with them, according to ATTOM’s fourth quarter 2023 U.S. Home Equity & Underwater Report. According to the report,… The post Home Equity Down but Respectable in Q4 2023 appeared first on RISMedia.

Equity 116
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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.