July, 2023

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Housing Market Tracker: Inventory shocks lower

Housing Wire

The slow zombie crawl of housing inventory went lower last week as inventory was negative week to week. In addition, mortgage rates rose to a yearly high as labor data stayed firm and purchase apps had their first negative week after three straight weeks of positive growth. Weekly Active listings fell by 866 homes Mortgage rates rose to a year-to-date high of 7.22% Purchase apps were down 5% week to week Weekly housing inventory We had a hat trick in housing last week: weekly active listings wer

Marketing 461
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Try Before You Buy: Why Rentals Are the Next Big Thing in Luxury Real Estate

Sotheby's International Real Estate

Jenny Landey and Zacheriah Dayton – Sotheby’s International Realty – East Hampton Brokerage Sometimes the most meaningful luxury lifestyles are only discovered through experiment and experience. This is why many prospective luxury homebuyers opt to rent in different enticing locations before committing to a property purchase. Not only does this allow them to judge whether a particular area has all the practical and recreational amenities they desire, it also lets them discover

Brokerage 104
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Is this really who we ‘R’? 

Inman

In the face of new harassment allegations at the highest levels of leadership, where is the outrage? asks speaker and writer Valerie Garcia. Is this who we are as Realtors?

As-is 159
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Selling a House With a Lien — A Guide for Homeowners

HomeLight

Whether the cause is unpaid taxes, unpaid alimony, or unpaid contractor bills, selling a house with a lien against it adds one more wrinkle to the already complex task of a home sale. But don’t fret. “Nine times out of 10 the lien can be paid off through the sale,” says Richie Helali, Mortgage Sales Lead at HomeLight Home Loans. “This way the seller doesn’t need to come up with [the debt] out-of-pocket earlier.

Title 114
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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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Buyers will pay a premium for walkable communities

Real Estate News

Younger generations are especially motivated by walkability, even if it means paying more, giving up yard space or living in a multifamily dwelling.

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Consumer Confidence Rebounds in June

Eye on Housing

Consumer confidence in June rose to its highest level in 17 months as recession concerns eased. However, spending plans were mixed. Vacation intentions continued to improve, while the intention to buy homes and big-ticket appliances cooled further due to elevated mortgage rates. This shift in consumer preference from goods to services is likely to continue this year.

Mortgages 122

More Trending

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Luxury Real Estate Headlines, First Week in July 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Sonoma, California | Sotheby’s International Realty – Sonoma Brokerage The renovated residence overlooks Mt. Diablo, the San Pablo Bay and the San Francisco skyline. Decorist Founder Selling California Wine Country Home for $12.5 Million – Mansion Global In Beverly Hills, Even the Cheapest Homes Cost Millions – The Wall Street Journal Asheville Was Already Cool—Now It’s Luxe – Barron’

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Woman withdraws case accusing NAR, Kenny Parcell of harassment

Inman

Janelle Brevard initially sued the National Association of Realtors, claiming her firing was a form of harassment and retaliation. The case ended Thursday, though many questions still remain.

MLS 156
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How Millennials Are Changing the Home-Buying Process (And How They Aren’t)

RIS Media

The large millennial population is in prime first-time home-buying age, driving demand and competing for the ongoing scarcity of homes for sale. While there are some divergences in how millennials approach home buying and selling, it’s still an open question about how radically this generation will change the housing market. Millennials are different from prior… The post How Millennials Are Changing the Home-Buying Process (And How They Aren’t) appeared first on RISMedia.

Sales 115
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Steve Baird: Brokerage owners ‘need to focus on what we can control’

Real Estate News

The Baird & Warner CEO shares how his family business has thrived in a cyclical, sometimes “regressive” industry, and discusses the future of buyer agency.

Brokerage 260
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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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Share of Two or More Stories New Homes Maintains Lead in 2022

Eye on Housing

Data obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, show that the rising trend of two or more stories homes continued in 2022. Although the overall share remained virtually unchanged, the share of two or more stories homes started construction was greater than one story homes in 2022. Nationwide, the share of new homes.

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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data.

Marketing 449
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Pending Home Sales Weakened in May

NAR: Economic Outlook

Pending Home Sales Weakened in May May's pending home sales pace declined 2.7% from last month and fell 22.2% from a year ago.

Sales 134
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US home prices projected to grow ‘convincingly’ in 2024: Economist

Inman

Existing-home sales are expected to tumble to a 12-year low by the end of 2023, but they won't stay that way for long, Realtor.com Chief Economist Danielle Hale predicted on Wednesday.

Sales 153
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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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Is Real Estate a Good Investment?

Bigger Pockets

Have you ever wondered whether or not real estate is a good investment? Explore why real estate is a great investment and how it can help you achieve your financial goals.

Finance 113
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Brokers in Focus: Choosing to merge and retire a brand

Real Estate News

Facing a contraction of his brokerage business, J. Philip Faranda made a previously "unthinkable" decision. Now he wishes he had done it sooner.

Branding 259
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Construction Job Openings Rise, But Long-Run Trend is Declining

Eye on Housing

The count of open, unfilled jobs for the overall economy moved lower in May, falling to 9.8 million. While ongoing tight labor market conditions have likely confirmed one to two more Fed rate hikes through the start of the Fall, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions. The count of open.

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DataDigest: Inventory and the purported ‘Airbnb crash’

Housing Wire

There was a viral tweet going around from YouTube housing influencer Nick Gerli. You’ve probably seen it. Gerli cites data from a company called AllTheRooms to make the case that the Airbnb /short-term rental market is “crashing” and it will have a big impact on inventory. Indeed, the chart he shared is alarming. A nearly 50% drop in revenue in some markets!

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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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Affordable Housing Lottery Opens in Cypress Hills for $419 Studios and $722 Three-Bedrooms

Brownstoner

A lottery has opened for 341 apartments in the 100 percent affordable Atlantic Chestnut development under construction in Cypress Hills on the site of a former food processing plant that burned down in 2012. The Atlantic Chestnut phase one lottery is for the first 14-story building in the three-building, 1,294,400-square-foot development… Read More > The post Affordable Housing Lottery Opens in Cypress Hills for $419 Studios and $722 Three-Bedrooms appeared first on Brownstoner.

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How this real estate mentor merges resilience and passion

Inman

Find out how marketing expert and industry veteran Marci James blends professional acumen, personal fulfillment and a love for the great outdoors to create a picture-perfect life.

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Why AI Is About to Make Real Estate Investing EVEN Easier

Bigger Pockets

Artificial intelligence (AI) like ChatGPT might not be great at writing podcast intros, but when it comes to building a rental property or real estate portfolio, these platforms produce far […]

Marketing 111
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'Threads' is taking off — here's why you should try this Twitter alternative

Real Estate News

Yes, there's a new social media app in town. It might be a fad — or the next big thing — but getting on board now could reap dividends for your business.

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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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Bringing the Heat: 4 Homes with Alfresco Fireplaces and Fire Pits

Sotheby's International Real Estate

An outdoor fireplace or fire pit helps create an exceptionally warm, welcoming ambience in any open-air space, whether it’s a rooftop deck gazing out toward the Pacific or a poolside terrace mere blocks from the Atlantic. Whispering Oaks Vineyard Kevin McDonald | Sotheby’s International Realty – Sonoma Brokerage A gated drive winds through some 10 acres of meticulously maintained vineyards to this four-bedroom modern residence, which harmonizes effortlessly with its natural surroundings.

Brokerage 105
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Will labor data send mortgage rates to 8%?

Housing Wire

The 10-year yield and mortgage rates have been rising close to the 2023 high as some labor data shows that the honey badger labor market is still growing. To make things even more complicated, the spreads between the 30-year mortgage rate and the 10-year yield keep getting wider. The question is: will the labor data push mortgage rates to 8%? In my 2023 forecast , I wrote that if the economy stays firm, the 10-year yield range should be between 3.21% and 4.25% , equating to mortgage rates betwee

Mortgages 387
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Century 21’s Jon Salvador builds connections

Real Trends

With 30 years of real estate experience, Jon Salvador, a Burlington, Iowa-based Century 21 Property Professionals agent, is without a doubt and industry veteran. Over the decades, Salvador has honed his business approach and leaned into his people skills to build his book of business. In 2022, Salvador’s approach led him to close 129 transaction sides, totaling over $19.7 million in sales volume, good enough for the No.

Agents 103
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Trophy properties are all the rage right now, Jonathan Spears says

Inman

Ahead of his appearance at Inman Luxury Connect, the Spears Group founder told Inman demand for trophy properties or highly unique listings is at an all-time high throughout North Florida.

Agents 148
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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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Rookie Reply: How to Get 100% Financing for ALL of Your Real Estate Deals

Bigger Pockets

100% financing for ALL of your real estate deals? Without thousands of dollars saved up, many people assume there’s no way for them to invest in real estate.

Finance 113
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Agents Decoded: It's time to get serious about agent safety

Real Estate News

Amid a new wave of reports of the dangers of working as a real estate agent, Jay Thompson says the industry must take steps to improve safety for all agents.

Agents 246
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Inside a Quintessential Hampton’s Hideaway

Sotheby's International Real Estate

Almost perennially, the Hamptons have been recognized as one of the world’s most desirable destinations, so to be tapped as one of its most exclusive streets—as Parsonage Lane in Sagaponack South recently has—is certainly a feat and a testament to the sophistication, style, and refinement of the estates that line it. Sagaponack, New York | Beate V. Moore, Sotheby’s International Realty – Bridgehampton Brokerage With its wood shingles, diamond-lattice windows, gambrel dormers, wood-burning

Brokerage 101
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Mortgage rates reach their 2023 peak

Housing Wire

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. By contrast, the 30-year was at 5.30% a year ago at this time.

Mortgages 378
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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.