January, 2023

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Fewer Prospective Buyers Are Fully Engaged in Purchase Process

Eye on Housing

Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. who have moved beyond just the planning phase) to drop to 46%, down from 59% a quarter earlier. The share of prospective buyers fully engaged in the buying process declined in every region between the.

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CoStar considering purchase of Realtor.com parent: Report

Inman

Acquiring Realtor.com would significantly advance CoStar's push into residential real estate — and bring it into greater conflict with the industry's existing power players.

Insiders

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Homebuilders still need lower mortgage rates

Housing Wire

What is happening with homebuilders and the new home sales sector as we head into the spring housing market ? We have had some conflicting data points recently. On the one hand, cancelation rates have been rising. On the other hand, mortgage rates have gone down more than 1% since Oct. 20, 2022. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving pr

Mortgages 538
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Zillow Appreciation Estimates

BubbleInfo

It looks like Zillow is sticking with their relatively flat forecasts for our local areas. It’s probably realistic if appreciation goes like it did in 2022 – everything gained in the spring selling season is given back in the off-season.

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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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Tips For Pricing a Home Correctly Every Time

Realty Biz

Your home is typically the most significant investment you'll ever make, so when it’s time to sell, you want to ensure you get as much as possible. But how do you choose the best price to list the home? Accurate house pricing is essential for success. If you set the price too high, it will be on the market for a longer time. If the price is lower than it should be, you’ll receive offers below what you need to help purchase your next home.

Sales 128
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Housing Market Tracker: Housing inventory falls once more

Housing Wire

We are off and going now, as seasonality has kicked into full gear with the purchase application data. And, so far, it’s been a good start to the year. Here’s the housing market rundown for the last week: Purchase application data showed positive weekly growth again — and the bounce from the bottom is more noticeable now. Housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.

Marketing 488

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How luxury real estate is developing in the metaverse

Inman

The metaverse is quickly becoming a platform, or a collection of several platforms, where you can advertise, socialize, build, and explore. It’s no wonder we’ve started to imagine how to bring real estate to this realm.

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Canadian Real Estate Bubble May Crash Until 2025 As Indicator Flashes Warning

Better Dwelling

Canada’s real estate bubble is popping, and another indicator is flashing a warning. Residential investment as a share of GDP fell again in Q3 2022, after peaking a year before. Such a large drop in housing investment has only ever preceded the popping of a real estate bubble. Central bank research also indicates real home […]. The post Canadian Real Estate Bubble May Crash Until 2025 As Indicator Flashes Warning appeared first on Better Dwelling.

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Luxury Real Estate Headlines: First Week in January, 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Luquillo, Puerto Rico | Puerto Rico Sotheby’s International Realty. Hacienda Les Chavaux showcases mesmerizing ocean and mountain views. This Year, Luxury Homebuyers Will Look Further Afield for Deals – Bloomberg. Hot property: five homes for sale with ‘wellness’ features – Financial Times.

Sales 140
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Instant Reaction: Inflation, January 12, 2023

NAR: Economic Outlook

Instant Reaction: Inflation, January 12, 2023. The latest consumer price inflation of 6.45% in December is in the sixth consecutive month of deceleration after peak inflation of 9.1% in June 2022. By: . Lawrence Yun.

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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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How title companies are combating wire fraud

Housing Wire

Cyberattacks, particularly wire fraud through business email compromise, remain a major concern for the title industry. Attempted attacks increased significantly, according to a 2022 survey by the American Land Title Association , with 46% of respondents saying their employees receive at least one email a month attempting to change wire or payoff instructions.

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On the House: Is 2023 the Year To Finally Buy a Home?

Realtor.com

Realtor.com / Getty Images Q: Is 2023 the year to finally buy a home? That depends. There are some signs indicating that it might be getting easier for many folks to buy a home. Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes.

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Viyaleta Kachan was 1 of the 21,434 Americans to launch a real estate career in 2022. Here’s her story

Inman

Inflation and rising interest rates tilted the housing market off its axis in 2022. Here's the story of one woman who joined the ranks of real estate agents last year — and thrived amid the chaos.

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Canadians Are Still Using Their Homes As ATMs, Just Not With HELOCs

Better Dwelling

Canadians are cooling on home equity line of credit (HELOC) loans, but homes are still being used as ATMs. Filings show the balance of HELOC loans fell slightly in November. Don’t let that fool you into thinking the spree of home equity spending is over though. Households are still borrowing hundreds of millions per month […] The post Canadians Are Still Using Their Homes As ATMs, Just Not With HELOCs appeared first on Better Dwelling.

Equity 132
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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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New and Notable Luxury Homes for Sale Over $10 Million | January 2023

Sotheby's International Real Estate

From a mountaintop home in Bachelor Gulch, Colorado, to an elegant apartment in Dubai, United Arab Emirates, these are this month’s four featured notable properties for sale over $10 million. Dubai, United Arab Emirates. Honey Deylami | LUXHABITAT Sotheby’s International Realty. The home is expertly designed and is positioned in one of the city’s most revered mixed-use developments with five-star hospitality, cutting-edge commercial, retail and leisure venues. and world-class ameniti

Sales 135
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Instant Reaction: Mortgage Rates, January 12, 2023

NAR: Economic Outlook

Instant Reaction: Mortgage Rates, January 12, 2023. The average rate on a 30-year fixed mortgage fell to 6.33% from 6.48% the previous week. By: . Nadia Evangelou. Mortgage Financing.

Mortgages 136
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The mortgage industry is nervous about LLPA fee changes

Housing Wire

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. It’s generating concern among mortgage and real estate trade groups, who fear the tweaks will hurt qualified borrowers amid an existing affordability crisis.

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How to Finish Your Basement With Projects People Love

Realty Biz

Finishing your basement could cost tens of thousands of dollars, but it is an investment that should offer a good return. It will make your home more attractive to buyers as it's a feature many want. We will look at the ideas for finished basement projects that you can use to create a new, functional, and valuable space in your home. Today's home buyers love having a finished basement and its additional space.

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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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Inside Real Estate acquires industry competitor BoomTown

Inman

In what could be described as the most significant proptech acquisition since Zillow purchased ShowingTime, the resulting company will boast 700 employees and a massive range of customers.

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Bank of Canada To Hike Rates, Leave Door Open For More: BMO

Better Dwelling

Canadian markets have begun discussing rate cuts, and that’s a reason we might not see one this year. BMO Capital Markets wrote to investors over the weekend, outlining their expectations for a rate hike this week. Their forecast currently sees the Bank of Canada (BoC) hitting pause after the next hike, but they warn it […] The post Bank of Canada To Hike Rates, Leave Door Open For More: BMO appeared first on Better Dwelling.

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Luxury Real Estate Headlines: Fourth Week in January, 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Pacific Palisades, California | Sotheby’s International Realty – Santa Monica – Venice Brokerage A rustic house in Rustic Canyon, a west side neighborhood of Los Angeles, has come to the market for the first time since it was built in 1987.

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Where People Moved in 2022

NAR: Economic Outlook

Where People Moved in 2022 After a historically low moving rate in 2021, data indicates that even fewer Americans moved across the country in 2022.

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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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Housing inventory falls under 1M again as sales collapse

Housing Wire

On Friday NAR reported that total housing inventory levels broke under 1 million in December, dropping to 970,00 units for a population of 330 million people. And existing home sales crashed in 2022 from a peak of around 6.5 million in January down to about 4 million in December, We now have total inventory levels near all-time lows again. In one of the most historical years in the U.S. housing market , we just experienced an event that most people never thought could happen.

Sales 539
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Material Shortages Ease, With Notable Exceptions

Eye on Housing

In May of last year, Eye on Housing reported on historically widespread shortages of building materials. Since then, most of the shortages have eased; the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials (ceramic tiles, clay bricks and cement-based building materials), which have gotten slightly worse. NAHB has been tracking shortages of building materials and.

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Why Keller Williams is a tech biz, according to its chief digital officer

Inman

In advance of his appearance at Inman Connect New York on Jan. 24-26, the franchisor's chief technology and digital officer told Inman what agents are asking for since the market changed.

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Starter Home Prices Are Soaring and Luxury Is in a Slump—What’s Going On?

Realtor.com

Photo-Illustration by Realtor.com; Photos: Getty Images (3) For those navigating America’s residential real estate market, it’s lately felt a bit like an out-of-control cargo train, ever threatening to veer off the tracks—stomach-churning price accelerations followed by interest rate hikes slamming the brakes. It’s little wonder that just about everyone seems to be searching for clues on where housing sales are going this year.

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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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Luxury Real Estate Headlines: Second Week in January, 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Charlotte, Vermont | Four Seasons Sotheby’s International Realty. Perched right on Lake Champlain sits a 12-acre Vermont listing embodying all the characteristics of artistic, pastoral New England living. Tour a $2.5M Lakefront Compound in Vermont Where All Things Artistic, Rustic, and Outdoorsy Meet – Cottages & Gardens.

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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, […].

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Solid jobs report sends mortgage rates lower

Housing Wire

Can we have a soft landing in the economy? Friday’s job report shows there is a clear pathway to get there. Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer.

Mortgages 532
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Collecting All Real Estate Data in One Search

Propmodo

Most real estate firms today find themselves dealing with massive amounts of data. Between tenant leases, property management records, historical building data, and local economic and demographic information, firms have more capability to produce actionable insights with their data than ever before. Unfortunately, most firms also find that it is difficult (if not impossible) to use the data they have because of the way it is stored.

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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.