June, 2023

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4 Best (and Worst) Projects for a Home’s Resale Value

RIS Media

For REALTORS®, selling a house should be the start of a relationship with a client, not the end. As you keep in touch with buyers, providing expertise will enhance your standing. Owners want to improve their properties with any number of projects. But what’s appealing to some can be appalling to others. They should understand… The post 4 Best (and Worst) Projects for a Home’s Resale Value appeared first on RISMedia.

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Why higher rates aren’t crashing home prices

Housing Wire

Home prices aren’t crashing, despite what the housing bubble boys are saying. In fact, home prices have firmed up higher recently. The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. They went all in during COVID-19 in 2020, doubled down in 2021 as the forbearance crash bros but really bet the farm on a massive home-price crash in 2023 after the most significant home sales crash ever in 2022.

Mortgages 545
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David Doctorow steps down as CEO of Realtor.com parent Move, Inc.

Inman

Doctorow oversaw the company as its revenues and site traffic rose to record highs, the company said. But as with the rest of the industry, Move has shown signs of a slowdown.

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Luxury Real Estate Headlines, Final Week in June 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Brisbane, Queensland, Australia | Queensland Sotheby’s International Realty The mansion, owned by a JLL executive, is hitting the market for A$20 million. A Brisbane Equestrian Compound Is on Sale for $13.2 Million – Bloomberg The Gallery-Like Home of Collector Chara Schreyer, Who Championed ‘Strange’ Art, Has Come to Market in San Francisco – artnet Bulgaria’s Most Expensive Home Lists fo

Design 138
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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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What Does Contingent Mean in Real Estate?

HomeLight

You’ve been browsing for a home when suddenly a particular listing catches your eye. It’s a lovely four-bedroom Colonial, beautifully presented in the heart of a mature neighborhood. But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” So, what does contingent mean in real estate?

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Bank Failures Having Some Effect on Builders

Eye on Housing

The failure of several banks in 2023 and the ensuing stress in U.S. financial markets has had an effect that some builders and developers are beginning to notice, according to two recent NAHB surveys. In one of the surveys, roughly three-in-five builders and developers reported that loans for land acquisition, land development and speculative single-family construction have become more difficult.

Banks 130

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Pride Month 2023: Discover the Top 8 Cities for Unforgettable Celebrations

Redfin

We’re officially welcoming the month of June, which means it’s time for Pride! The first Pride march dates back to June 28, 1970, one year after the Stonewall Uprising. Thousands took to Los Angeles, Chicago, and New York streets to commemorate the event and display their support for equal rights. Today, millions of attendees worldwide march through cities to celebrate the fight won and reinforce their support for the work ahead.

Staging 67
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Rent Growth is Negative For the First Time in Three Years—Is Your Cash Flow in Jeopardy?

Bigger Pockets

Rent growth has been on a downward trajectory for a while now, but it finally crossed the negative line. What does this mean for investors?

Investor 111
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Opinion: Release the GSEs from conservatorship

Housing Wire

After the recent extraordinary show of force defending changes to LLPAs by federal regulators and their friends, the forest through the trees risk remains in focus to me. One of the great concerns I have, as both a former regulator and the former head of a major industry trade association, is the downside risk of keeping the GSEs in conservatorship any longer.

Loans 533
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It’s a good time to be selling (and buying) new homes

Real Estate News

New home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.

Sales 332
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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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NAR CEO Bob Goldberg plans to retire at the end of 2024

Inman

Bob Goldberg's contract will expire Dec. 31, and the executive plans to retire after three decades at NAR and four decades in real estate, according to the National Association of Realtors.

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Breaking: Secret Order of Tents Society Granted Tax Exemption, Protecting Historic Bed Stuy HQ

Brownstoner

The historic secret aid society run by Black women that has a headquarters in the magnificent but dilapidated building at 87 MacDonough Street was granted a tax exemption today, according to New York City Council Member Justin Brannan. Brannan, chairman of the committee on finance, said in an email that the… Read More > The post Breaking: Secret Order of Tents Society Granted Tax Exemption, Protecting Historic Bed Stuy HQ appeared first on Brownstoner.

Finance 145
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What Are the Advantages and Disadvantages of Low HOA Fees?

RIS Media

When you move into a house in a homeowners association (HOA) neighborhood, you might want the fees they charge to be as low as possible. Buying a home is a significant expense, and you might want to reduce costs where you can. But are low HOA fees a good idea? You might assume smaller bills… The post What Are the Advantages and Disadvantages of Low HOA Fees?

As-is 143
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What’s Old Is New Again: 4 Ingenious Home Transformations

Sotheby's International Real Estate

Whether a restyled former synagogue or a transfigured community theater, these four properties have been painstakingly, fashionably modified, respecting each one’s provenance while introducing architectural and aesthetic innovations. Sonoma’s Ruby Stone Building Ginger Martin | Sotheby’s International Realty – St. Helena Brokerage History meets modern luxury in this distinctive 6,743-square-foot property just a block from the Sonoma Plaza.

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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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Housing Market Tracker: Inventory disappoints again

Housing Wire

After seeing disappointing inventory growth two weeks ago , which I chalked up to the Memorial Day holiday, I was hoping for a big push in active listings last week, but that didn’t happen. And, the recent uptick in mortgage rates to almost 7% slowed purchase application data again. Here’s a quick rundown of the last week: Active inventory grew 6,722 weekly.

Marketing 487
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Getting your brokerage ready for a new world of buyer agency

Real Estate News

In light of ongoing lawsuits, brokers need to prepare their buyer agents to communicate their value and respond to objections around agreements and fees.

Brokerage 290
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NAR pushes back on harassment claim amid growing agent backlash

Inman

The National Association of Realtors tapped an independent law firm to investigate sexual and racial harassment allegations, ultimately choosing to "reject" claims made by a former employee.

Agents 155
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Final Look at Local Housing Markets in May

Calculated Risk Real Estate

Each month I track closed sales, new listings and active inventory in a sample of local markets around the country (over 40 local housing markets) in the US to get an early sense of changes in the housing market. In addition, we can look for regional differences. For example, listings in Texas and Florida are up more than in most other areas , and sales are down less year-over-year.

Marketing 138
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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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The Pros and Cons of a Backup Offer on a House

RIS Media

In the world of real estate, competition can be fierce. Multiple buyers are not uncommon to be interested in the same property. When another offer has been accepted on a house you set your heart on, there is still hope in the form of a backup offer. A backup offer allows you to position yourself… The post The Pros and Cons of a Backup Offer on a House appeared first on RISMedia.

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The Bold and the Beautiful: 4 Homes with Vibrant Interiors

Sotheby's International Real Estate

Choosing bold paint shades is an effortless way to transform an interior space from commonplace to compelling. These spirited residences succeed with vivid, eye-catching doses of color in a variety of spaces. Fifth Avenue Aerie Elizabeth L. Sample, Brenda S. Powers | Sotheby’s International Realty – East Side Manhattan Brokerage High above Fifth Avenue in East Harlem, this dramatic 3,045-square-foot condominium residence is a sophisticated aerie with magnificent views and floods of natural

Brokerage 142
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Has the Fed won its battle against inflation? 

Housing Wire

Inflation was running over 9% last year and the headline inflation growth rate has cooled off a lot recently. Does this mean the Federal Reserve will pivot soon to prevent a recession? I don’t believe they will, but the growth rate of headline inflation falling is good enough for them to pause rate hikes tomorrow. The core aspect of inflation is taking time to head lower, and this is the part of the inflation picture that the Fed cares most about.

Banks 472
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NAR and its president accused of racial, sexual discrimination

Real Estate News

A former employee has filed a lawsuit alleging she was unfairly fired after ending a relationship with National Association of Realtors President Kenny Parcell.

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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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Total Makeover: What’s the Cost of Gutting a Home and Remodeling?

HomeLight

Most home renovation shows would have you believe that gutting and remodeling your house is as simple as a 30-minute programming block. Draft up some pretty designs, get crazy with a sledgehammer, lay some tile, and bam — your dream house is complete. The reality is a little more complicated, not to mention pricey. According to HomeAdvisor, a full home renovation costs $150,000 on the high end, and that doesn’t account for unexpected bumps along the way.

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Freddie Mac House Price Index Increased Slightly in May; Up 0.4% Year-over-year

Calculated Risk Real Estate

Note: This is a repeat sales index using only loans purchased by Fannie and Freddie and includes appraisals. See FAQs here. Freddie has data for all states and many cities. For house prices, I’m currently following Case-Shiller, FHFA , CoreLogic , Black Knight , the NAR median price s, and this Freddie Mac index. Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.5% month-over-month on a seasonally adjusted (SA) basis in May, putting the National FMHP

Loans 137
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Huge Surge in Housing Starts Defies Predictions

RIS Media

Despite significant doom and gloom in other macroeconomic areas, data on housing starts is providing a positive counterpoint, underscoring increased confidence around the near future of housing as buildings and developers push construction of new units to a 13-month high. A massive 21.7% increase from the previous month put new starts at a seasonally adjusted… The post Huge Surge in Housing Starts Defies Predictions appeared first on RISMedia.

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Feasting Alfresco: 4 Stylish Homes with Outdoor Dining Areas

Sotheby's International Real Estate

Cookbook author Claudia Roden’s assertion that “everything tastes better outdoors” is certainly true at these four distinctive homes with alfresco dining spaces. Every meal is accompanied by views of verdant vineyards, majestic mountains, and other idyllic settings. Modern Elegance in Houston Cortney Cole-Hall | Martha Turner Sotheby’s International Realty Inspired in design, this modern six-bedroom home in Houston’s Bellaire community is ideal for peaceful day-to-day living and festive e

Design 138
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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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Zillow shuts down Closing Services

Housing Wire

Zillow Group ’s attempt to streamline the home buying experience by offering all facets of the transaction process on one platform has hit a road bump. The real estate listing giant announced on Monday that it is sunsetting its title and escrow provider, Zillow Closing Services. “Integrating the real estate transaction to make buying and selling simpler for customers remains our core strategy and we believe offering title and escrow is a critical component,” a Zillow spokesperson wrote in an ema

Closing 418
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'Mounting pressure' on industry as MLS agrees to settle commission suit

Real Estate News

MLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.

MLS 290
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Property Tax Assessments and Revenue: Catching Up to Home Values…and Quickly

Eye on Housing

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $174 billion in taxes were paid by property owners in the first quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q1 2023, state and local governments collected $714 billion of property tax revenue. The year-over-year growth rate of property tax collections is more.

Sales 129
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Part 2: Current State of the Housing Market; Overview for mid-June

Calculated Risk Real Estate

Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-June I reviewed home inventory and sales. House Prices Reported YoY house price growth is still positive, but the Case-Shiller National Index slowed to 0.7% YoY in March. The MoM increase in the seasonally adjusted Case-Shiller National Index was at 0.42%. This was the second MoM increase following seven consecutive MoM decreases.

Marketing 136
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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.