Thu.Dec 08, 2022

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Mortgage rates are down, but not enough for most borrowers

Housing Wire

Mortgage rates continued the downward trend this week amid signs that the U.S. economy is cooling down due to the tightening monetary policy. The recent declines, however, have not been enough to convince borrowers to take out a home loan. “This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” Danielle Hale, Realtor.com ’s chief economist, said in a stateme

Mortgages 382
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Homeownership Is an Investment in Your Future

Keeping Current Matters

There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out.

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Best practices to speed up the appraisal process

Housing Wire

Appraisal turn times have historically been a pain point in the mortgage process and in boom times, when transaction volumes soar, turn times tend to be one of the first casualties. In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Now that the market is less frenzied, turn times are improving. Depending on the region, people are able to get appraisals done in under 10 days for the most part, according to Reggora CEO Brian Zitin.

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Bank of Canada Rate Hike Pushed Many Mortgage Borrowers Above Stress Test: BMO

Better Dwelling

Canada’s mortgage stress tests seemed excessive last year, but they were insufficient. The recent Bank of Canada (BoC) rate hike pushed a number of variable rate borrowers above their stress test rate. BMO warns these borrowers haven’t been risk-tested for the current environment. Canadian Mortgage Borrowers Haven’t Been Stress Tested For Rates This High The […].

Banks 138
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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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Inside the collapse of a top reverse mortgage lender

Housing Wire

After returning from the Thanksgiving holiday, the roughly 575 staffers at Reverse Mortgage Funding assembled nervously on two separate Microsoft Teams meetings. On the first virtual meeting, 472 employees received the bad news that many expected : they were being terminated. The hundred or so workers on the other Teams meeting were given marching orders: keep the company’s operations functioning during bankruptcy proceedings.

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Killer Tips For Preparing to Get a Home Loan

Realty Biz

Most people need to get help from a lender to buy a home, and applying for a loan can be difficult at times. Getting a mortgage in the current conditions, where interest rates have risen quickly, hasn't made the situation any easier. While it might be more difficult to get a mortgage, it is, of course, still possible, but you might need to prepare more carefully.

Loans 129
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2023 REACH & REACH Commercial Applications Now Open

GeekEstate

REACH operates a variety of accelerator programs around the globe, created and operated by Second Century Ventures and backed by NAR. The program offers education, mentorship and exposure for technology companies working to scale their businesses across the U.S. residential and commercial real estate markets and expand into adjacent markets, including insurance, mortgage and financial services.

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Why Overpricing Your Home For Sale Can Be A Disaster

Realty Biz

Correctly pricing your home is the most crucial step in your marketing plan. If you overprice your home, no amount of other marketing techniques is likely to bring in reasonable purchase offers. Your home is probably your most prized possession, and you may have made a bunch of improvements to make it uniquely yours. You might think it is close to being the perfect house.

Sales 107
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Enhance Your Well-being With the Latest Biohacking Tools

Sotheby's International Real Estate

Theodora Kaufmann – Kuper Sotheby’s International Realty. Throughout history, people have feverishly pursued perpetual youth, health, and beauty—and today, it looks as though we’ve just about caught it. New tools, technologies, formulas, and facilities are offering science-based ways to not only optimize physical and mental performance, but to maintain it for longer.

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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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From hot to not: the Austin housing market saga

Real Trends

It wasn’t that long ago that Austin, Texas was considered the hottest housing market in the country. “I’ve never experienced anything like what we did from the middle of 2020 through March of 2022 and I wasn’t alone. Realtors all over were saying the same thing,” Scott Michaels, a local Compass agent, said. “You just did what you could to keep yourself healthy and sane.”.

Marketing 102
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Sold to Developer, Historic Wyckoff-Bennett House Vandalized as Locals Worry About Its Future

Brownstoner

Anyone who walks by the Wyckoff-Bennett House today might wonder if its new investor-owners are purposefully encouraging squatters, thieves, vandalism or demolition by neglect by leaving fences down and not repairing broken windows, missing downspouts and other visible damage. The pre-Revolutionary War house is one of the oldest in Brooklyn… Read More > The post Sold to Developer, Historic Wyckoff-Bennett House Vandalized as Locals Worry About Its Future appeared first on Brownstoner.

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Zillow Group’s latest buy enables interactive listings

Real Trends

Zillow Group acquired VRX Media, a real estate marketing company and media services provider, to expand its suite of listing services for agents and brokers, the company announced on Thursday. The acquisition marks Zillow’s 18th acquisition to date. Zillow Group will offer VRX Media’s services — like aerial drone and high-definition photography, virtual staging and 3D tours — through ShowingTime+’s software suite, a brand of Zillow Group providing software and market statistics services.

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Park Slope Townhouse One-Bedroom With Bay Window, Backyard, Tin Ceiling Asks $3,300

Brownstoner

It may not be the cheapest rental out there, but this one-bedroom on the garden level of an 1898 Romanesque Revival townhouse in the Park Slope Historic District has attractive vintage details, modern updates and a shared backyard. The pale brick and stone row house at 522 2nd Street has a… Read More > The post Park Slope Townhouse One-Bedroom With Bay Window, Backyard, Tin Ceiling Asks $3,300 appeared first on Brownstoner.

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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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5 of the Top We Buy Houses for Cash Companies in Modesto

HomeLight

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Modesto area companies in this post do not constitute an endorsement. Individual program details can also frequently change — please visit a company’s website for the most up-to-date information on each program’s fees, market coverage, business model, and more.

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The Insider: Designer Conjures Gracious European Feel for Her Family’s Fort Greene Townhouse

Brownstoner

Got a project to propose for The Insider? Contact Cara at caramia447 [at] gmail [dot] com In 2018, when interior designer Jenna Chused of Dumbo-based Chused & Co. decided her family of four should quit their cramped two-bedroom apartment and look in earnest for a permanent home, an elegant grand dame… Read More > The post The Insider: Designer Conjures Gracious European Feel for Her Family’s Fort Greene Townhouse appeared first on Brownstoner.

Design 96
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HW Media acquires Altos Research to expand access to real-time housing data

Housing Wire

HW Media , publisher of HousingWire , RealTrends and Reverse Mortgage Daily , announced today that it has closed on the strategic acquisition of Altos Research , the premier resource for real-time real estate data, providing weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S. HW Media is focused on building a mission-critical resource that enables housing market professionals to make better decisions, stay informed and engaged, and grow their businesses.

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Daily Links: After Murder, Students at DoBro Schools Discuss How to Improve Area Safety

Brownstoner

In the News Mayor Adams, Fined For Rats at Bed Stuy Property, Takes on City Hall [NYT] Retracing Walt Whitman’s Steps Through Brooklyn and Manhattan [NYT] Brooklyn Museum's ‘23 Exhibition Schedule Spans Artistic Categories [Eagle] New Businesses Open in Bay Ridge as Nabe Recovers From Pandemic [BP] Meet The Face Behind 5th Avenue’s Colorful Facades… Read More > The post Daily Links: After Murder, Students at DoBro Schools Discuss How to Improve Area Safety appeared first on Brownstoner

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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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NSDCC Annual Sales by Price Range

BubbleInfo

There are concerns that lower pricing will cause recent home buyers to be underwater – and potentially create another bubble to pop. A factor to consider when assessing the current market conditions is how quickly the affluent buyers have taken over the marketplace between La Jolla and Carlsbad: NSDCC Annual Detached-Home Sales Price Range 2017 […].

Sales 81
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What Recession? US Real Estate Industry Bizarrely Forecasts Price & Rent Boom

Better Dwelling

The US real estate industry laughs at your negative outlook—they think things are about to boom. Realtor.com released its 2023 forecast this week, and noted the negative factors building. Their forecast includes higher financing costs, reduced leverage, fewer exist-home sales, and a lot more inventory. However, their forecast bizarrely concludes it will result in higher […].

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Finance Friday: Got Extra Cash? Here’s the Investment Plan for You

Bigger Pockets

Retirement planning is something best started early on. The more time you give yourself to invest, the faster your accounts can grow, giving you early financial independence well before the […].

Finance 81
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Real Estate Regret: 5 Things Recent Homebuyers Loathe About Their Yard

Realtor.com

Getty Images Amid the pandemic-era buying frenzy, many first-time homebuyers rushed into purchases to take advantage of then record-low mortgage interest rates and score a sweet deal. We saw buyers waiving contingencies and making offers sight unseen in an effort to beat out the competition. But, as we’ve learned , buying a home without fully vetting it can result in a panoply of problems and, ultimately, buyer’s remorse.

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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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FEMA, Floods, and Florida Real Estate After Hurricane Ian

Bigger Pockets

After Hurricane Ian, Florida real estate took a huge hit. With multiple communities literally underwater and the entirety of Southwest Florida facing pricey home repairs, Florida went from being the […].

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Demolition Denied: This Sumptuous $2.9M Pittsburgh Victorian Lives On!

Realtor.com

Realtor.com A 9,286-square-foot mansion in Pittsburgh dating to the late 1800s and boasting a spectacular restoration seeks a new steward. It’s now available for $2,988,000. “It’s a special spot that we’ve all known about and driven by,” says listing agent Mark Jennings , with Piatt Sotheby’s International Realty. Locals know the property as the Baywood Mansion, and it’s sometimes referred to as the Alexander King Estate.

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10 Charts That Summarize The U.S. Economy—Hint: It’s A Mixed Bag

Bigger Pockets

We’re going to talk about the economy. I’m not going to make economic predictions here, but I’m going to try to assess where we are (or might be) in this […].

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Curves Ahead: Whimsical Casa Luna Bounces Onto the Market in Big Sur for $7M

Realtor.com

Realtor.com One of architect Mickey Muennig ’s whimsical residential designs in Big Sur, CA , is ready for a new owner. The curvy four-bedroom, four-bath home has had only two owners since its 1982 completion. It is listed for $6,950,000 with Ben Heinrich of Coldwell Banker Realty. Fans of California architecture likely know Muennig for his design work at the Post Ranch Inn , a luxury coastal resort in Big Sur.

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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.