Wed.Jan 11, 2023

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Mortgage demand picks up as seller concessions rise

Housing Wire

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . “I’ve had five people contact me in the last week or so to talk about buying a new home, which is much better than a month or two ago,” Rochelle Gano , a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. “It seems like, with every

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Today’s Housing Market Is Nothing Like 15 Years Ago

Keeping Current Matters

There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years.

Marketing 247
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UWM takes another big step to reduce prices

Housing Wire

Michigan-based United Wholesale Mortgage (UWM) is taking another step to aggressively reduce its prices in order to gain market share in a shrinking mortgage market. . The company announced on Wednesday that it is giving up to 125 basis points to brokers to use on any loans they lock with the lender, with a maximum of 40 basis points per loan. According to a spokesperson for the company, LOs can apply their own pricing enhancement to their borrowers with these basis points. “Sometimes 10

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Go pro! 23 reasons top agents stand out among amateurs

Inman

When markets get tough, and 2023 is certainly shaping up that way, it's the professionals who come out in the winner’s circle while the amateurs are left standing on the sidelines.

Agents 152
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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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Newly launched Defy Mortgage targets non-QM lending market

Housing Wire

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. The company takes a “holistic approach” to evaluating a homebuyer’s entire asset portfolio, including cryptocurrency and bitcoin, Defy Mortgage said Tuesday in an announcement about the launch.

Lending 414

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For title agents, it’s still all about data

Housing Wire

Those who aren’t really familiar with the settlement services industry tend to think of a title agency as, more or less, the business that makes the closing happen and delivers a title insurance policy. But those who live and breathe title know there’s something even more fundamental with which they are charged. Data. A title agency’s existence, in so many ways, depends upon information.

Title 404
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2023 is going to be alright

Inman

You've got 365 days to work with in 2023. Whatever your circumstances, writes Teresa Boardman, it all comes down to what you decide to do with them.

Agents 152
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Justin Messer promoted to CEO of Prosperity Home Mortgage

Housing Wire

Chantilly, Virginia-headquartered mortgage bank Prosperity Home Mortgage , a subsidiary of HomeServices of America , promoted Justin Messer to president and CEO on January 1, 2023. Messer succeeds Tim Wilson, who has been in the position since 2014. Messer, who was the Prosperity COO for more than three years, will be responsible for leading the lender to its “next stage of growth and performance,” he said in a statement on Wednesday.

Mortgages 393
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Compass faces first downturn amid pressure to cut costs

Inman

The brokerage has dominated the conversation for years in real estate but is now faced with the task of becoming profitable amid its first major market downturn.

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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Stewart acquires Ohio-based Elite Family of Companies

Housing Wire

Stewart Title is back on the acquisition wagon. The smallest of the Big Four title insurers announced Tuesday that it had acquired the Elite Family of Companies. The financial details of the acquisition were not disclosed. The Elite Family of Companies includes Elite Land Title, LLC , Aspen Land Title Agency, LLC , and Citizens Land Title Agency, LLC.

Title 401
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Wells Fargo exiting correspondent mortgage lending business

Inman

Executives hope to reduce risk by reducing the size and narrowing the focus of bank's mortgage business to better serve retail customers and minority communities.

Lending 152
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Nominations for the 2023 HW Finance Leaders award are now open

Housing Wire

In its 3rd year, the HW Finance Leaders award is celebrating the industry’s top finance executives who have muscled through another unprecedented year in housing and helped their organizations come out on top. And this year’s list will be even more robust as the nomination categories have been separated into both mortgage and real estate to welcome a broader pool of nominees.

Finance 400
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PlanetRE integrates Chat GPT to inspire agent content marketing

Inman

The company intends to make it easier for agents to generate useful, engaging content. "Humans have worked hard for a long time. It is time machines do the heavy lifting from here on," said CEO of planetRE Subrao Shenoy.

Agents 148
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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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Toronto Residents Are Leaving At A Record Pace, Immigration Takes Over Growth

Better Dwelling

Greater Toronto experienced a massive population boom, but that may be peaking soon. Statistics Canada (Stat Can) data shows Toronto CMA’s population was booming in 2022. Drilling down into the numbers reveals the growth was just immigration. The artificial growth trend obfuscates the record outflow of residents from the region. The headline data looks great, […].

Mortgages 125
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Facebook announces new system to avoid housing ad discrimination

Inman

The company launched its Variance Reduction System this week, a provision in the settlement Meta worked out with the U.S. Department of Justice.

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Video of the Week: A Luxurious Residence on Central Park South in New York, New York

Sotheby's International Real Estate

Featuring curated videos from the most sought-after destinations the world over, discover this week’s V ideo of the Week. . New York, New York | Sotheby’s International Realty – Downtown Manhattan Brokerage. 220 Central Park South is the preeminent new address in New York City, situated directly on Central Park. Designed by Robert A.M. Stern Architects, this extraordinary half-floor residence redefines the very meaning of the word luxury and living life to its fullest.

Brokerage 112
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Refis ramp up as rates fall to 6.28% — but homebuyers stay on the fence

Inman

Requests to refinance accounted for 31 percent of all loan applications last week, well below the past decade’s average of 58 percent.

Loans 148
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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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Why Purchasing New Construction Can Be a Smart Move for First-Time Homebuyers

Realtor.com

Getty Images Many first-time homebuyers might presume they’re better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. While it’s true that brand-new homes often come with a heftier price tag upfront, these properties can actually end up being a good—even great—deal for first-time buyers. “It is true that new-construction homes, on average, are 10% to 15% higher in sales price than resale homes, but that doesn

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Hines taps new CEOs for regions across North and South America

Inman

Steve Luthman was picked to lead the Midwest, Southeast and Canada regions; and Syl Apps will head the South America region, the company announced on Wednesday.

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6 questions to ask sellers at a listing appointment

Real Trends

Growing your client base is a fundamental part of building your real estate business. Although it’s tempting to accept every prospective client who reaches out about selling their home, it’s important for you and any seller to be on the same page before working together. That requires taking some time to get to know each other — and your expectations — better. .

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Foreclosure activity doubled in 2022 but remains historically low

Inman

While the nation continues moving away from the pandemic-era lows, it's doing so very slowly and well below rates seen during the Great Recession.

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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 Ways to Start 2023 Strong

Realtors Property Resource

Start the New Year in high gear! These five tips from RPR will get agents on track and off to a great fresh start for 2023. The post 5 Ways to Start 2023 Strong appeared first on Realtors Property Resource (RPR).

Agents 98
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Zavvie raises $3.65M, bets on alternative homebuying preferences

Inman

The company also announced Second Century Ventures Managing Partner Tyler Thompson will join zavvie's board of directors.

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2022 Mover Migration Studies

Broke Agent Media

BAM Key Details: According to U-Haul’s own records, more people moved to the Southeast and Southwest than anywhere else in 2022—with Texas and Florida at the top of the list. North American Moving Services likewise found most Americans moving in 2022 migrated to warmer states with more affordable housing. Around 13% of Americans moved every year before the pandemic hit.

As-is 98
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Pacaso launches low-down payment option for new second home buyers

Inman

With Pacaso Now, the company is offering a 5 percent-down payment option for a one-eighth share, thereby providing second home buyers 3 options after 12 months, according to an announcement.

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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.