March, 2023

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‘Go big or go home’: Opendoor’s high-stakes bid to disrupt real estate

Inman

With billions saved — and lost — Opendoor is living by the creed "go big or go home." Yet even after a dreary Q4, the iBuyer persists, which may be the biggest takeaway, Mike DelPrete writes exclusively for Intel.

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What will housing credit look like in next recession?

Housing Wire

With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Many people predicted that the U.S. housing market would crash during the pandemic. One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages.

VA loan 496
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An Expert Makes All the Difference When You Sell Your House

Keeping Current Matters

If you’re thinking of selling your house, it’s important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale.

Sales 250
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Commissions lawsuit now a class action, greatly increasing its scope

Real Estate News

A judge ruled that the Moehrl suit would now cover all sellers who paid commissions to named companies over a 5-year period, plus “current and future” sellers.

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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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How to Become a Successful Real Estate Agent (6 Simple Strategies)

The Close

When I first became a real estate agent in 2010, I waltzed into the office with a swagger that would make Beyoncé blush. My local market was booming. New luxury high-rises were popping up like weeds, and open houses looked more like trendy nightclubs with lines of eager buyers spilling out onto the sidewalk. How could I not become a successful real estate agent in that market?

Agents 126
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The Recession That Loomed

Propmodo

The U.S. economy has been going through a rough patch, as economies are prone to do now and then. Last year, it met the informal threshold of a recession with two consecutive quarters of negative gross domestic product growth. But despite that, the National Bureau of Economic Research has not officially declared a recession yet. Typically, it takes them about a year to make that call as a recession is based on a broad range of economic factors.

More Trending

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Agile fintech firm executes first fully automated AOT transaction

Housing Wire

Agile , a Philadelphia-based fintech company focused on mortgage-backed securities (MBS), announced on Monday the execution of the mortgage industry’s first fully-automated Assignment of Trade (AOT) transaction. AOT transactions involve three counterparties — a mortgage originator, a mortgage investor, and a broker dealer — and are designed to transfer loan collateral and hedge positions to a mortgage investor.

Investor 416
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Gen Zers see ‘green homes’ in their searches, says RE/MAX study

Inman

Amid an economic landscape in flux, homebuyers and sellers continue to want expert advice from real estate agents while looking to prepare for the future, and for Gen Z that means finding "green homes," according to RE/MAX.

Agents 192
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Florida a rising MVP with the #2 most valuable housing market

Real Estate News

With the value of its residential real estate surpassing $3.6 trillion, Florida edged out New York but trails California among markets with the top home values.

Marketing 297
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Which Banks Are in Danger of Failing or Collapse?

Marco Santarelli

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure due to rising interest rates and a high proportion of uninsured deposits. The report titled ‘Monetary Tightening and US Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?' estimated the market value loss of individual banks' assets during the Federal Reserve's rate-increasing campaign.

Banks 145
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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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Luxury Real Estate Headlines: First Week in March 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Valparaiso, Chile | Chile Sotheby’s International Realty This two-story home in Valparaiso, Chile, was built intentionally so the common spaces and bedrooms were exposed to the northwest views of the ocean, beaches and the city of Maitencillo.

Sales 138
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Concrete Products Lead Building Materials Prices Higher

Eye on Housing

After four consecutive declines, the producer price index (PPI) for inputs to residential construction less energy (i.e., building materials) rose 0.3% in February 2023 (not seasonally adjusted) follow a 1.1% increase in January (revised), according to the latest PPI report. Price growth of goods inputs to residential construction, including energy, gained 0.4% over the month.

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Low inventory a challenge to housing market as rates decline 

Housing Wire

Mortgage rates declined for the third consecutive week, sparking hope for a good homebuyers’ spring season. But while rates have dropped, the housing market has continued to be challenged by low inventory levels. Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage was 6.32% as of March 30, down 10 basis points from the previous week, mainly due to the economic uncertainty caused by bank collapses.

Marketing 513
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Falling mortgage rates and home prices spur homebuyer interest

Inman

Demand for purchase loans picks up for the fourth straight week as mortgage rates continue to retreat from 2023 highs, according to the latest Mortgage Bankers Association survey released Wednesday.

Mortgages 182
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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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Industry icon Wes Foster, co-founder of Long & Foster, has died

Real Estate News

Wes Foster, known for his integrity and "larger than life presence," said he was most proud of growing Long & Foster from humble beginnings into a major player.

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List of Failed Banks in the United States

Marco Santarelli

In this blog post, we will be reviewing the list of failed banks in the United States. It's never good news when we hear about a bank failure , and unfortunately, there have been quite a few in the United States over the years. From Washington Mutual and IndyMac in 2008 to Guaranty Bank and First NBC Bank in 2017, these failures can have a big impact on customers, employees, and the economy as a whole.

Banks 139
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Luxury Real Estate Headlines: Final Week in March, 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Calonge, Spain | Barcelona & Costa Brava Sotheby’s International Realty The stone-clad Costa Brava home comes with plentiful patio space and a sparkling pool. This Summery Home in Spain Makes Us Want to Put Away Our Puffer Coats for Good – Dwell $12.2M Osterville Home Is the Most Expensive Sale on Cape Cod This Year – Boston Business Journal Golf is Helping Drive the Real Estate

Sales 137
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NAHB 2023 “Priced Out” Estimates – State and Local Estimates

Eye on Housing

NAHB recently released its 2023 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 96.5 million households are already not able to afford a median priced new home in 2023 due to the fact that their incomes are insufficient to qualify for the required mortgage under standard underwriting criteria.

Mortgages 130
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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 ChatGPT can help you work more efficiently and generate more leads

Housing Wire

ChatGPT , the AI chatbot, has taken the world by storm over the past few months. It took Netflix 3.5 years to reach one million users, Facebook ten months and Spotify five months. ChatGPT got to the first million users in five days. In two months after that, ChatGPT reached 100 million active monthly users. But first things first. What is artificial intelligence (AI)?

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Love-hate relationship with social media? Here’s how I make it work

Inman

Although people have mixed feelings about social media, there's no denying that it's a valuable tool for marketing your business. Find out how agent Nikki Beauchamp puts it to work effectively.

Agents 170
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Pending sales signal modest improvement in housing market

Real Estate News

NAR reported that February pending home sales were up 0.8% from January, making it the third consecutive month of increases.

Sales 313
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33 Secret Websites to Make Money Online in 2023

Marco Santarelli

Making money online has become increasingly popular in recent years. The internet has opened up numerous opportunities for individuals to make money online. Many people are searching for ways to make money online, but they are not sure where to start. From freelancing to affiliate marketing, the possibilities are endless. The rise of the gig economy and online businesses has opened up countless opportunities for people to earn money from the comfort of their own homes.

Design 131
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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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Green with Envy: 5 Homes with Gloriously Green Spaces

Sotheby's International Real Estate

Green is a soothing, refreshing hue that brings to mind lush meadows, leafy groves, and idyllic forests. It fills spaces with cheer, optimism, and a welcome reminder of the long, warmer days ahead. Handsome Houston Haven Michelle Carpenter | Martha Turner Sotheby’s International Realty This stylish townhome is located in a beautifully landscaped enclave of serene Southside Place, one of Houston’s most desirable neighborhoods.

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February 2023 Pending Home Sales Rise for Third Consecutive Month

NAR: Economic Outlook

Pending Home Sales Rise for Third Consecutive Month February’s pending home sales pace rose modestly 0.8% last month but fell 21.1% from a year ago.

Sales 139
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Fannie Mae: Appraisals are no longer the default option

Housing Wire

Fannie Mae updated its Selling Guide on Wednesday to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.” Those options include value acceptance (formerly appraisal waivers), value acceptance plus property data and hybrid appraisals. “We are on a journey of continuous improvement to make the home valuation process more efficient and accurate.

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Altman Brothers Team signs new contract with Douglas Elliman

Inman

The team closed the priciest sale in Orange County last year with a $55 million property in Crystal Cove and was named the No. 1 large team nationwide in the 2023 Ellie Awards. Terms of the contract were not disclosed.

Closing 168
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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 dominates the portals, but Homes.com gains ground

Real Estate News

A new report found that most portals lost traffic and market share over the past year, but a few companies improved or firmed up their positions.

Marketing 288
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Cost of Constructing a Home in 2022

Eye on Housing

The NAHB recently published its latest Cost of Construction Survey. Results show that 60.8% of the average home sale price consisted of construction costs, essentially unchanged from the 61.1% posted in 2019. Since the inception of this series in 1998, this was the fourth time construction costs represent over 60% of the total price of the home (2013: 61.

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Luxury Real Estate Headlines: Fourth Week in March, 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Dubai, United Arab Emirates | LUXHABITAT Sotheby’s International Realty The solar-powered villa includes 10 bedrooms, a movie theater, a music room, and a private gym. This $95 Million Dubai Mega-Mansion Comes With an Epic Two-Story Swimming Pool – Robb Report Houstonians Put Down Roots in Tanglewood and Stay for Generations – Mansion Global A Massive, Nearly Century-Old New England

Sales 135
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Bringing MLS Software Into the Modern, Mobile Era

GeekEstate

[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Perchwell] A business operating system, Perchwell, provides listing data management, search, and syndication plus collaboration solutions for residential real estate professionals and their clients. Its flagship MLS platform (which includes both a front-end and back-end system) is constructed from a myriad of public and private sources and s upports interoperability/integration a

MLS 126
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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.