Wed.Apr 20, 2022

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Mortgage applications nosedive as rates continue to soar

Housing Wire

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. The drop was largely driven by an 8% decline in refinancing applications, which was 68% lower than the same week one year ago. The seasonally adjusted purchase index dropped 3% from the week prior, according to the trade group.

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How To Approach Rising Mortgage Rates as a Buyer

Keeping Current Matters

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%.

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The VA’s little-known program for Native American veterans

Housing Wire

A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. from 2012 to 2021. This represents less than 1% of the estimated potentially eligible population of 70,000 veterans, the watchdog agency said.

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Housing Demand Is Softening

Eye on Housing

The share of adults planning a home purchase within a year fell for a third straight quarter in the first three months of 2022, down to 13%. The last time fewer American adults intended to buy a home was in the second quarter of 2020 (11%). The decline is evidence that the COVID-induced boost to housing demand is past its.

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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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The housing market is still savagely unhealthy

Housing Wire

The National Association of Realtors reported that existing home sales for March came in as a miss of estimate at 5.77 million. However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, hope for a balanced market is real this year because, with higher rates, we should see more days on the market coming up and growth in the inventory data.

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Opinion: How GSE reform could create a healthier housing market?

Housing Wire

In the first article of this series, I discussed the argument for turning Fannie Mae and Freddie Mac into public utilities, which would result in more Americans having fair access to mortgage services. However, regulating government-sponsored enterprises (GSEs) as public utilities is not without its detractors. Privatization is often presented as an alternative option, but as I mentioned in the previous article, it’s not always the ideal approach.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

What to Know About Terms and Conditions Found in an Offer to Purchase. When you find a home you want to buy, your offer will contain many important terms and conditions. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Before making an offer on a property it is vital to understand what you will be agreeing to in a real estate contract.

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Weighing the Pros and Cons of Waiting to Buy a House Right Now

Lighter Side of Real Estate

With mortgage rates rising, low inventory, and intense buyer competition, you may be wondering if it makes sense to wait and see if the market shifts in your favor before buying. It certainly hasn’t been fun or ideal for buyers, so if there’s a chance you could have more houses to choose from at a better price, who could fault you for wanting to wait?

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What You May Not Know About Moving

RIS Media

Are you thinking about moving to a new city or state? If so, you should know a few things before making a move. Moving is stressful, so the better prepared you are upfront, the smoother it will go. Have a plan, and make sure you are fully prepared for what lies ahead. Have all of your documents ready, know the estimated time it will take to pack and load, and be confident you can handle any potential bumps in the road.

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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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Video of the Week: Inside a Tropical Escape in Jamaica

Sotheby's International Real Estate

Featuring curated videos from the most sought-after destinations the world over, discover this week’s Video of the Week. Jamaica | Julian Dixon, Jamaica Sotheby’s International Realty. Rejuvenate your soul with the warmth of the Jamaican sun at Karma Bay, Tryall Club. Allow the crisp cool island winds to encapsulate your being as you are swept away to a place of mindful bliss.

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Mortgage and refinance rates today, April 20, 2022

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates climbed again yesterday, reaching heights not seen since the century’s first decade. Of course, if you look back to 2008 and beyond, […].

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Life After Conservatorship: FHFA Preparing Fannie and Freddie for the Eventual Exit

RIS Media

Despite recent skepticism surrounding a possible exit from conservatorship for Fannie Mae and Freddie Mac, officials from the Federal Housing Finance Agency (FHFA)—the overseer of both agencies—indicated that the door hasn’t yet been shut on the idea. After more than a decade under federal government oversight, Sandra Thompson, the acting director of the FHFA, confirmed that the agency has been preparing the government-sponsored enterprises (GSEs) for life after conservatorship. “We

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Real estate investors cite rising inflation as their biggest concern in 2022

Realty Biz

Real estate investors say inflation is their biggest concern, but even though it’s rising it isn’t stopping them from investing in new projects. That’s according to the latest survey of 503 investors by the real estate investor financing firm Kiavi. According to Kiavi, a full 65% of those investors it quizzed cited inflation as a major concern in 2022.

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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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Kensington House Where Children’s Author Ruth Chew Brewed Her Tales of Magic Asks $1.99 Million

Brownstoner

There are no guarantees the house is full of magic, but for decades this Kensington row house was home to 20th century children's author Ruth Chew, who spun tales of enchantment for young readers. Those 29 adventures, the bulk published in the 1970s and 1980s, frequently took place on the… Read More > The post Kensington House Where Children’s Author Ruth Chew Brewed Her Tales of Magic Asks $1.99 Million appeared first on Brownstoner.

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Why A Mortgage Broker Is Necessary For First-Time Home Buyers

Realty Biz

Mortgage brokers serve as a conduit between customers and lenders, and they can make a significant difference in your search for the ideal loan. If it’s your first time buying a house, you should know that you will be making a considerable investment. Thus, working with a mortgage broker can benefit you in many ways. Happy mixed ethnicity couple customers sign mortgage loan contract, smiling interracial husband and wife make insurance investment deal put signature on paper meeting broker b

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Redfin Seals Its Deal for Bay Equities

RIS Media

Redfin has completed its big-ticket purchase of Bay Equity Home Loans. The Seattle-based real estate tech company confirmed its $137.8 million acquisition of the national full-service mortgage lender in an all-cash transaction. According to company executives, the deal is expected to accelerate Redfin’s plans to become a “one-stop-shop” for consumers. “As homebuyers struggle with affordability and bidding wars, it’s more important than ever for lenders and brokers t

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Even with 5% mortgage rates, $422 million awaits in refi savings

The Mortgage Report

Even as mortgage rates hit 5%, the window to save hundreds with a refinance isn't closed. But it might shut soon if you don't move fast.

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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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How Is The Downtown Rental Market?

Toronto Realty Blog

TorontoRealtyBlog. Wanna hear something depressing? I sprained my ankle on Saturday. Bad, eh? But that’s not actually the depressing part. I rolled my right ankle, essentially stepping on my own foot, by doing one of the following: a) Chasing a purse-snatcher down Bloor Street West after he stole an old lady’s handbag. b) Running into the endzone during an epic game of pick-up football at the park. c) Raking leaves on my front lawn, merely ten minutes into the exercise.

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Stroll Myrtle Avenue for a View of Pratt’s ‘Preserving Activism’ Photo Exhibition

Brownstoner

A dig into the history of activism at Pratt Institute turned up the story of a vibrant summer youth program and a wealth of images documenting the students and teachers involved. Seven storefronts along Myrtle Avenue are now hosting an exhibition of some of those photos, all taken in the… Read More > The post Stroll Myrtle Avenue for a View of Pratt’s ‘Preserving Activism’ Photo Exhibition appeared first on Brownstoner.

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Mortgage Applications Decrease in Latest MBA Weekly Survey

RIS Media

With mortgage rates at their highest in over a decade, mortgage applications decreased 5.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 15, 2022. Key findings: The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0% on a seasonally adjusted basis from one week earlier.

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‘Voices of Lefferts’ Community History Project Fundraises to Stay Afloat

Brownstoner

Voices of Lefferts, a volunteer-led effort to document the history of Prospect Lefferts-Gardens and its citizens, is enlisting the help of the community to maintain their mission as they fight to stay afloat after a particularly difficult year left them without the grant funding they usually depend on. Launched in 2017,… Read More > The post ‘Voices of Lefferts’ Community History Project Fundraises to Stay Afloat appeared first on Brownstoner.

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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 continue to fall

Real Trends

Existing home sales fell for the second consecutive month in March, dropping 2.7% month over month to a seasonally adjusted annual rate of 5.77 million, according to a report from the National Association of Realtors released Wednesday. This sales pace is down 4.5% compared to a year ago. Experts blame this decrease on low inventory, rising mortgage rates and continued home price increases. “The housing market is starting to feel the impact of sharply rising mortgage rates and higher infl

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Commentary on Today’s Market

BubbleInfo

My thoughts on commentary seen in the news today: With rates rising, and prices significantly higher, the average borrower is paying about 38% more on the monthly payment now than they would have for the same home one year ago, according to Realtor.com. JtR: This is crushing the move-up/move-down market, with very few existing homeowners […].

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How to evict a tenant in Ontario

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: How to evict a tenant in Ontario. Please visit REMonline.com for more content like this, and contact web@remonline.com to inform us of any unauthorized reproduction. Do you want to evict a tenant in Ontario but don’t know how?

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Top 10 Ways to Use Instagram in Real Estate

Tom Ferry

Through Instagram, real estate agents not only have the ability to showcase the features of their listings that can attract prospective buyers, but it also allows agents to connect with their audience and build brand awareness to generate a following and pull in more leads. With that said, I pulled my top 10 ways […]. The post Top 10 Ways to Use Instagram in Real Estate appeared first on Tom Ferry.

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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.