June, 2024

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More listings, lower rates should boost 2025 sales: Fannie Mae

Inman

Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections.

Sales 186
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HUD launches manufactured home community loan program

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA). The Manufactured Home Community loan product will “will help entities to preserve, stabilize, and revitalize these vital sources of affordable housing,” the department explained.

Loans 528
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In NYC, brokers are fighting for 10-15%, not 6%

Real Estate News

New York is one of only two cities where landlords can hire brokers and require renters to pay them. This may be changing — but not if the industry has its way.

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As WA housing costs climb, incomes aren’t keeping up

Seattle Times Real Estate

New data puts the sharp home-price surge into perspective. Take a region-by-region look at how incomes stack up against home prices, and what it takes to afford a one-bedroom apartment.

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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.

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Effective Repairs to Make Before Selling Your Home

RIS Media

Selling a home involves more than just listing it on the market. Strategic repairs and improvements can significantly increase your home’s value and appeal to potential buyers. It’s all part of preparing to sell. I will provide detailed guidance on minor cosmetic fixes, major structural repairs and insights into DIY versus professional maintenance.

Marketing 144
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Locals Celebrate Creation of Bed Stuy’s Willoughby-Hart Historic District

Brownstoner

Almost two years after Willoughby Avenue’s historic Jacob Dangler mansion was torn down during a landmarking review process, sending many neighbors into mourning, Willoughby Avenue and Hart Street locals were jubilant today after the city’s Landmarks Preservation Commission voted unanimously to preserve their blocks of predominantly late 19th century Neo-Grec… Read More > The post Locals Celebrate Creation of Bed Stuy’s Willoughby-Hart Historic District appeared first on Brownsto

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VA issues temporary fix to allow buyer-paid broker fees

Housing Wire

The U.S. Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. The change, a result of the National Association of Realtors’ (NAR) commission lawsuit settlement agreement , was anticipated late last month and commented on by Michelle Corridon, the deputy policy director at the VA.

VA loan 519
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Deal in place to sell REcolorado to private equity firm

Real Estate News

The associations that own the 16th-largest MLS surprised its leaders with a deal that “scared the absolute hell out of us,” REcolorado’s vice chair said.

Equity 359
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The American who built a supersized Japanese aerie from abandoned parts

Seattle Times Real Estate

As he completes his nature-centric compound in Kamakura, Japan, Brian Heywood is spearheading a fight to roll back climate change laws in his home state of Washington.

As-is 131
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How to Price a Condo Correctly

RIS Media

Pricing a condo correctly is essential for a successful sale. I will guide you through detailed, actionable steps to ensure your condo is priced right. You will learn the following information which will help you price your condominium appropriately based on the current real estate market: How to conduct a comprehensive market analysis. The importance… The post How to Price a Condo Correctly appeared first on RISMedia.

Sales 139
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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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Bed Stuy Homeowners Call on LPC to Preserve Historic Brownstone Blocks

Brownstoner

More than 30 years after the city’s landmarking body first considered preserving a historic section of Willoughby Avenue and Hart Street in Bed Stuy, residents -- some whose brownstones have been in their family for five generations -- were able to share at a public hearing why they are calling… Read More > The post Bed Stuy Homeowners Call on LPC to Preserve Historic Brownstone Blocks appeared first on Brownstoner.

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Ryan Serhant’s flashy ‘Owning Manhattan’ raises bar for reality TV

Inman

The Netflix series focuses on Serhant's agents and lifts the stakes on real estate-focused reality TV thanks to high production values and sophisticated plotting, reporter Lillian Dickerson writes.

Agents 186
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Pending home sales plummet to all-time low in May: NAR

Housing Wire

After rising in March , pending home sales continued to slide in May, with the Pending Home Sales Index (PHSI) posting its second consecutive month of declines to reach a record low, according to data released Thursday by the National Association of Realtors (NAR). The PHSI fell 2.1% from April to a reading of 70.8 in May, which was down 6.6% on a yearly basis.

Sales 489
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‘Ongoing antitrust litigation’ prompted deal to sell leading MLS

Real Estate News

Association owners of REcolorado say now is “the right time to sell” and that decoupling MLSs and associations can provide protections and improve operations.

MLS 306
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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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Amazon commits an additional $1.4 billion to affordable housing

Seattle Times Real Estate

Amazon invested $2.2 billion in affordable housing units faster than it expected. Now, it has committed an additional $1.4 billion for more projects.

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Home Inspection Tips for Townhouse Sellers

RIS Media

Selling a townhouse? A thorough home inspection can ensure a smooth transaction. Knowing what inspectors look for helps you address issues beforehand. I will provide the following information to help navigate the townhouse inspection process: The importance of a pre-sale inspection Detailed checklists for inspecting key areas Steps to prepare for an inspection and how… The post Home Inspection Tips for Townhouse Sellers appeared first on RISMedia.

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Neighbors Organize Against Deed Theft, Call Out Investors Who Target Heirs

Brownstoner

On a recent Saturday, a crowd of around 50 people gathered outside 212 Jefferson Avenue in Bed Stuy to hold a mock trial against property speculator brothers Joseph and Elliot Ambalo, and others who target elderly or vulnerable homeowners in predominantly Black and brown neighborhoods. The mock trial, which included… Read More > The post Neighbors Organize Against Deed Theft, Call Out Investors Who Target Heirs appeared first on Brownstoner.

Investor 132
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Jones Fridman International brings on Straser Silicon Valley team

Inman

The merger brings on Katy Thielke Straser's seven-person team and allows Jones Fridman International to expand its market area into Northern California. The team now represents about $25 billion in career sales.

Sales 185
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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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A key home price metric has skyrocketed since 2019

Housing Wire

A report released Wednesday by Realtor.com shows that a key measurement of U.S. home values is growing faster that the more commonly viewed metric of listing price. The analysis revealed that, across the 50 largest U.S. metro areas, price per square foot rose by 52.7% during the five-year period ending in May 2024. By comparison, the national median list price for a home jumped 37.5% during the same period to its current level of $442,500.

Agents 519
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Mortgage rates decline for a second week, boosting applications

Real Estate News

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

Mortgages 310
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FDIC Problem Bank List: 63 Banks Now on Watch in 2024

Marco Santarelli

The FDIC Problem Bank List is a confidential list maintained by the Federal Deposit Insurance Corporation (FDIC) in the US. It identifies banks that are considered to be at risk of failing financially. Here's a breakdown of what it is and how it works: Confidentiality: The list itself is not publicly available, which allows the FDIC to work with troubled banks discreetly to help them improve their condition.

Banks 128
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Condo Maintenance and Upkeep: A Comprehensive Guide

RIS Media

Maintaining a condo involves regular care and timely repairs. This ensures a comfortable, safe living environment and preserves property value. I will provide the following guidance: Practical tips for regular condo maintenance Solutions for common condo maintenance issues A seasonal checklist to keep your condo in top shape From being a condo owner in multiple… The post Condo Maintenance and Upkeep: A Comprehensive Guide appeared first on RISMedia.

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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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How to Collect Rent from Tenants: The Landlord’s Ultimate Guide to Rent Collection

Bigger Pockets

Learning the art of rent collection is crucial for running a successful rental business. Implementing efficient, effective rent collection strategies can minimize stress, improve cash flow, and help maintain a positive relationship with your tenants.

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Former Google CEO Eric Schmidt sells Silicon Valley home at $22.5M

Inman

Schmidt and his wife, Wendy Schmidt, bought the home in 1990 for $2 million and gradually expanded the estate over about 20 years, adding neighboring parcels, a guest house and a green house.

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Homeowners sitting on a pile of cash with $17T in home equity: CoreLogic

Housing Wire

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022.

Equity 514
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How much do buyers care about mortgage rates?

Real Estate News

A recent survey found that most successful buyers aren’t put off by rate levels, but for those who’ve paused their search, high rates are a top concern.

Mortgages 290
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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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The Data Center Boom Is Powering New Construction and Design Innovations

Propmodo

Data centers. The once-niche piece of IT infrastructure is now the talk of the investment world. Nvidia, the supplier of parts for modern cloud storage and processing data centers, is now the biggest company in the world, surpassing Apple. Data centers have also quickly become one of the hottest investments in the real estate space. A recent CBRE Global Data Center Survey revealed that 97 percent of investors plan to allocate more funding toward data centers this year, up from 89 percent in 2023

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How to Avoid Losing Earnest Money Deposit When Buying a Home

RIS Media

Buying a home involves multiple steps, including providing an earnest money deposit. This deposit is a sign of good faith between the buyer and seller. It indicates the buyer’s commitment to purchasing the property. However, losing this deposit can be a significant financial setback. I will guide you with the following information so you don’t… The post How to Avoid Losing Earnest Money Deposit When Buying a Home appeared first on RISMedia.

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WA older adults want to age in their homes, but some need help

Seattle Times Real Estate

As more older Washingtonians hope to age in place, the costs of getting their homes ready can be an obstacle. Some programs help with repairs and modifications.

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4 fair housing essentials any real estate professional can champion

Inman

Fair housing goes beyond knowing the protected classes. Dr. Lee Davenport offers a primer on 4 levels of fairness involved in fair housing and how to communicate the facts to buyers and sellers.

Brokerage 194
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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.