May, 2022

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Purchase apps are at 2009 level: where’s the inventory?

Housing Wire

It’s an excellent time to discuss housing inventory. The housing market shifted in March of this year. As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. Since the summer of 2020, this has been my main talking point on what can cool down housing ; it’s a 10-year yield above 1.94% , meaning rates above 4%.

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What Are Comps in Real Estate

Realty Biz

When you are looking to sell your home, it is essential to have a fair and accurate price. Overpricing leads to failure. Under pricing leads to money left on the table. On the other hand, when you’re buying a home, the last thing you want to do is overpay. This is where “comps” come into play. Real Estate comps are comparable properties that have recently sold in your general area.

Sales 137
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The One Thing Every Homeowner Needs To Know About a Recession

Keeping Current Matters

A recession does not equal a housing crisis.

Marketing 255
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The Lounge Life: Five Homes Ideal for Indoor-Outdoor Living

Sotheby's International Real Estate

In desirable locales from East Hampton to San Francisco, these five homes are perfect for the long, lovely days of summer, blending spaces for enjoying the outdoors with easy access to interior comforts and conveniences. Sleek Modern Style in Sagaponack. Beate V. Moore, Sotheby’s International Realty – Bridgehampton Brokerage. Designed by esteemed architect Steven Harris, this thoroughly modern farmhouse sits on 1.3 emerald acres just a block from the beach.

Brokerage 143
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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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Hate Your Neighbor? New Survey Shows You’re Not Alone

Lighter Side of Real Estate

Do you have a neighbor that annoys you? The chances are, you do! According to this REALTOR Magazine article , a recent survey done by Lending Tree revealed that 75% of Americans don’t like their neighbor. What bugs people about their neighbors the most? Take your pick: They give off a “weird vibe” (28%). They’re too loud (27%). They’re rude (27%). Disruptive pets (17%).

Lending 142

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Think US home prices are high? At least we aren’t Canada

Housing Wire

Home prices in the U.S. have been skyrocketing since 2020, however, I often like to remind people that no matter how crazy home-price growth is in America, at least we aren’t Canada. When it comes to home prices — and especially home prices compared to income — our neighbors up north are like Godzilla to our gecko. Over the weekend, I tweeted several charts, showing people the big divergence between home price growth and real disposable income in the two countries.

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5 Killer Tips For Beating a Cash Buyer

Realty Biz

Tips For Beating Cash Offers. If you are looking to buy a home in a hot seller’s market, there is a strong likelihood you’ll be up against buyers who will be making a cash offer. If you’ve lost out already to cash buyers, you’re probably wondering what you can do to potentially level the playing field. A cash offer on a house is undoubtedly hard to beat.

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Beverly Park’s Ultra-luxurious Villa Firenze Re-lists for $120 Million

Fancy Pants Homes

The ultra-luxurious Villa Firenze in Beverly Hills, which once held the title of most expensive home in the U.S. , is once again trying to bank a $100+ million sale. Just one year after it sold at auction — banking a somewhat modest $51 million — the sprawling estate re-surfaced on the market with a $120 million asking price. The price point makes it the sixth-most-expensive residential listing in the Los Angeles area, Dirt reports.

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Home Away from Home: 5 Enchanting Summer Rentals

Sotheby's International Real Estate

From a Cape Cod cottage to a villa with a view of the Pacific, these six properties prove that a retreating to a summer rental can be as luxurious and stylish as staying home. Idyllic Amagansett Escape. Beth Felsen | Sotheby’s International Realty – East Hampton Brokerage. Amid 1.7 acres of greenery, this Amagansett home is a dreamy getaway near local farm stands and beaches.

Brokerage 140
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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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Has REX Homes finally ceased operations?

The American Genius for Real Estate

After two rounds of layoffs, a restructure to join MLSs, and swirling rumors regarding leadership, staffers tell us the company has crumbled. The post Has REX Homes finally ceased operations? appeared first on The American Genius Real Estate.

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Building Materials Prices Move Higher, Up 19% Year-over-Year

Eye on Housing

According to the latest Producer Price Index (PPI) report released today by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 0.5% in April, following upwardly revised increases of 1.9% and 2.4% in March and February, respectively. This adds up to an 4.9% increase in building materials prices since the start.

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This savagely unhealthy housing market needs higher rates

Housing Wire

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million , with double-digit home-price growth driving a housing market that is still savagely unhealthy. However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up.

Marketing 521
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8 Home Improvement Projects That Add Instant Value To Your Home

Realty Biz

Nowadays, it seems like everybody is looking for ways to make their homes more unique and beautiful. But sometimes, it’s tough to find the motivation to make big improvements. This is where small, simple, and inexpensive home improvement projects come in handy. If you’re looking to add some instant value to your home and don’t have the time or money to spend on huge renovations, try these 8 easy home improvement projects that will transform your home and give you a boost of mot

Equity 135
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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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Midcentury Modern ‘Treehouse’ Incorporates Century-Old Sycamores and Native Oaks in Its Design

Fancy Pants Homes

In the picturesque, tree-lined Rustic Canyon neighborhood of Pacific Palisades , Los Angeles sits an architectural gem that makes the most out of its ideal location. Dubbed ‘the Modern Tree House’, the midcentury modern abode comes with light-filled interiors, mesmerizing views of its lush surroundings, and a distinctive design. Envisioned by lauded architect David Hyun — best known for designing the Japanese Village Plaza, which transformed Little Tokyo in Los Angeles from an

Design 126
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Inside a Versace-Curated Palazzo in Manhattan

Sotheby's International Real Estate

Haute couture icon Gianni Versace was renowned for his use of vivid colors, bold prints, and a general reverence for luxurious classicism. In the 1980s, he expanded his empire to include housewares, furnishings, and textiles and eventually applied his talents to stage designs for operas, ballets, and other productions. Versace employed his skills from all these arenas in the curation of his own home, this grand six-level Baroque Italian palazzo one block from Central Park, which he purchased in

Staging 138
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Meet The Real Estate Tech Entrepreneur: Jay Reno from Feather

GeekEstate

This week, we interviewed Jay Reno from Feather. Let’s get to it! Who are you and what do you do? I’m the founder and CEO of Feather, a company that is redefining furniture rental for the modern generation. In 2017, I launched Feather as an accessible, design-forward and quality alternative to the growing problem of fast furniture. As someone who moved nine times in ten years, I saw the need to provide greater freedom and flexibility to a new generation of renters who are moving frequently

Staging 124
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New Single-Family Home Size Trends

Eye on Housing

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. According to first quarter 2022 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area inched down to 2,310 square feet. Average (mean) square footage for new.

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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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Lenders see appraisal modernization as a top priority

Housing Wire

A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. However, they have several more pressing priorities when it comes to what they’re investing in. Out of 200 senior mortgage executives surveyed, who represent 188 lending institutions, 94% think that appraisal modernization efforts will simplify the origination process.

Lending 477
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6 Creative Tips to Write Interesting Listing Descriptions

Realty Biz

An interesting listing description is likely to get more attention from a buyer than one that is not. When you’re selling a home, the description of your property is very important. In fact, the description is of equal importance to the listing photos. You want to make sure that people see what they’re looking for and that you’re portrayed in the best light possible.

As-is 129
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7 Ways for Homebuyers to Deal With Rising Interest Rates

Lighter Side of Real Estate

If you’ve been considering buying a house — or if you’re actually in the process — you’ve probably heard two things quite a bit lately: Interest rates are on the rise. They’re still historically low. Yes, they are still historically low, but that doesn’t change the fact that they’re higher than if you’d just bought a house a little while ago. Kind of painful to hear, huh?

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Nautical Nature: 5 Homes with Sea-Inspired Design

Sotheby's International Real Estate

Harald Grant & Bruce Grant – Sotheby’s International Realty – Southampton Brokerage. Nautical aesthetics permit you to pamper yourself with an oceanside retreat and not even have to pack a bag — or live near the ocean, for that matter. You can bring coastal inspiration to any space and recreate the tranquility of the salt-scented wind and open water at home through design. .

Design 138
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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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After Abolitionist Landmark Win, Activists Fight to Create Brooklyn Civil Rights Destination

Brownstoner

Descendants of five 19th century Black women abolitionists, alongside local activists and community members, are urging the City to create a cultural destination in Downtown Brooklyn that honors the area’s rich abolitionist history with a statue and heritage center celebrating the historically significant women and many others who fought against… Read More > The post After Abolitionist Landmark Win, Activists Fight to Create Brooklyn Civil Rights Destination appeared first on Brownston

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Remodeling in 2021: Kitchens Edge Baths for Top Spot

Eye on Housing

As National Home Remodeling Month draws to close, Eye on Housing reports on the most common projects undertaken by NAHB Remodelers during the previous calendar year—in this case, 2021. The results come from a special question included in the first quarter 2022 survey for the NAHB/Westlake Royal Remodeling Market Index (RMI). At the top of the list, 81 percent of.

Closing 124
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Purchase mortgage rates drop to 5.25% as demand wanes

Housing Wire

Purchase mortgage rates this week averaged 5.25%, down five basis points from a week ago , as some individuals put the American homeownership dream on standby due to higher rates and surging home prices, according to the latest Freddie Mac PMMS. This time a year ago, the 30-year fixed-rate purchase rates were at 3%, the report shows. The government-sponsored enterprise (GSE) index accounts for just purchase mortgages reported by lenders during the past three days.

Mortgages 457
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‘The Northman’ Actor Alexander Skarsgård Lists Historic Manhattan Pad for $2.6 Million

Fancy Pants Homes

True Blood alum Alexander Skarsgård is ready to part ways with his historic East Village co-op. The actor — who’s currently entertaining movie goers as the avenging Viking prince Amleth in the action-filled epic The Northman , now playing in cinemas — is looking to fetch $2,599,000 for his New York City home. According to our sources, Skarsgård bought the apartment approximately 5 years ago, then embarked on an extensive renovation process that modernized the unit without alter

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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.