Sat.Jan 22, 2022 - Fri.Jan 28, 2022

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Rate pressure pushes down mortgage applications

Housing Wire

Mortgage applications fell 7.1% from the previous week, following an increase in rates to the highest level since the pandemic onset, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. 21. The seasonally adjusted Refinance Index decreased 12.6% in the same period, with applications falling for the fourth straight week.

Mortgages 370
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Why Pre-Approval Is Key for Homebuyers in 2022

Keeping Current Matters

You may have heard that it’s important to get pre-approved for a mortgage at the beginning of the homebuying process, but what does that really mean, and why is it so important?

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9 Tips for Successful Real Estate Marketing in 2022

Realty Biz

Whatever your field in real estate, you need marketing to generate leads and sales. Establishing yourself as a real estate consultant or gaining new partnerships with businesses within your community require savvy marketing strategies, too. Here are nine tips to help you generate brand awareness and build a solid lead and customer database. Many of the following strategies apply to a broad spectrum of businesses, including hospitality and retail.

Marketing 105
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Introducing Pantone’s 2022 Color of the Year | A Conversation with Leatrice Eiseman

Sotheby's International Real Estate

Photo Courtesy of Leatrice Eiseman. Pantone’s Color of the Year is a highly anticipated announcement for design aficionados and consumers alike, and the color institute’s heralded shade for 2022 is Very Peri—a blue hue with warm red undertones that “encourages personal inventiveness and creativity”. As expected, there are many factors at play when making this selection.

Design 138
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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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Mortgage rates fall slowly after a month-long rise

Housing Wire

The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Most economists believe rates will continue to climb in the weeks and months ahead. “Following a month-long rise, mortgage rates effectively stayed flat this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement.

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Impacts of Rising New Home Costs

Eye on Housing

Only 15% of buyers were looking for a newly-built home at the start of 2018, but that share shot up to 42% by the final quarter of 2020 (after the start of the pandemic). Since then, however, interest for new construction has fallen steadily, as costs for building materials – especially lumber – have experienced double-digit growth. By the final.

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Decent Exposure: Four Homes Featuring Exposed Brick

Sotheby's International Real Estate

From chic urban oases in Manhattan to estates on the leafy thoroughfares of Houston, these homes prove that exposed brick is a time-honored way to infuse a home with history and character. Chic Tribeca Penthouse. New York, New York | Gina M. Kuhlenkamp & Olga Reindlova ”Neulist,” Sotheby’s International Realty – East Side Manhattan Brokerage.

Brokerage 133
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Wells Fargo pays $12M for wrongly denying mortgage modifications

Housing Wire

Wells Fargo agreed to pay $12 million to more than 1,800 mortgage borrowers to resolve a class action lawsuit that alleged the bank’s clients had loan modifications wrongfully denied due to calculation errors in the bank’s system. A judge from the U.S. District Court for the Southern District of Ohio approved the settlement on Tuesday after a hearing between the parties.

Mortgages 401
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The Next Generation of Homebuyers Is Here

Keeping Current Matters

Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home.

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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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Former Downtown Brooklyn Woolworth’s Loses Art Deco Facade, Awaits Makeover

Brownstoner

All traces of the streamlined bands of ornament that once graced the facade of the former Fulton Street F.W. Woolworth store are gone, leaving a blank slate as the building preps for a new look. Filings show that plans for facade repairs on the building at 408 Fulton Street in Downtown… Read More > The post Former Downtown Brooklyn Woolworth’s Loses Art Deco Facade, Awaits Makeover appeared first on Brownstoner.

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What Do Home Appraisers Look For?

Point2Homes

Image: Andrey_Popov / Shutterstock.com. A home appraisal is an essential part of buying or selling a property and even applying for refinancing. But what do appraisers actually look for when they visit? In this guide, we’ll cover the main items on an appraiser’s checklist and how they can affect the value of a property. The Home Appraiser’s Checklist.

FHA loan 130
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UWM to credit borrowers up to $600 for their appraisal costs

Housing Wire

For the next two months, United Wholesale Mortgage (UWM) will credit borrowers up to $600 for their appraisal costs, the lender said in a statement Wednesday. According to the Pontiac, Michigan-based lender, the credit will be available on all primary purchases, including jumbo mortgages. The offer will run from now until March 31. Mat Ishbia, CEO of UWM, said in a statement that the move is meant to “jump-start purchase season” and that this offering will give independent mortgage brokers a sig

Mortgages 381
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Canadian Real Estate Markets Have Seen A “Typical” Home Increase Up To $400,000

Better Dwelling

Canadian real estate prices are soaring at the fastest pace ever, yet the national numbers downplay growth. Canadian Real Estate Association (CREA) data shows home prices continued to soar in December. Over just 31 days, a “typical” home added up to $40,000 in one market. Over the past year, prices have increased more than ten […].

Marketing 127
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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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Video of the Week: Striking Lakefront Estate in Como, Italy

Sotheby's International Real Estate

Featuring curated videos from the most sought-after destinations the world over, discover this week’s V ideo of the Week. ?. Como, Italy | Luca D’Angelo, Italy Sotheby’s International Realty. Located in Como, Italy, this more than 100-year-old waterfront home offers an array of amenities to make it’s future owner comfortable. The 2,500 square-meter villa features seven bedrooms and 17 bathrooms complete with a 2,500-bottle wine cellar, playroom, billiard room, home theater, in

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‘We Moved Here for $10K’: How Cash Incentive Programs Are Changing the Rules on Where Americans Live

Realtor.com

Ahmed Zuhairy Washington, DC, was home to Anela Malik , a food writer, and her husband, Ahmed Zuhairy , a financial crimes analyst, for nearly 10 years before the COVID-19 pandemic hit. Suddenly, rather than spending their evenings out at restaurants and at co-worker happy hours, they were stuck in a cramped apartment, frantically Googling where they’d want to live next.

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FOMC indicates taper end in March, rate hike soon

Housing Wire

High inflation and a strong labor market has convinced Federal Reserve officials of the need to raise interest rates “soon,” though an exact timetable has not yet been disclosed. “With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,” the Federal Open Markets Committee said in a statement on Wednesday.

Principal 381
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Canadian Average Net Worth Nears $1 Million As Growth Rises 3x Faster Than Normal

Better Dwelling

Canadian households are seeing their net worth soar — at least on paper. Statistics Canada (Stat Can) data shows household net worth made a big leap in Q3 2021, mostly due to real estate. An average household is seeing wealth accumulate at one of the fastest rates in history, with Millennials leading the surge. There’s […]. The post Canadian Average Net Worth Nears $1 Million As Growth Rises 3x Faster Than Normal appeared first on Better Dwelling.

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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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Is Buying a Rehab Home Worth It?

Realty Biz

There is no clear line defining the difference between a rehab and a fixer upper. Generally, a fixer only needs some relatively inexpensive cosmetic improvements to increase the property value. Often a fixer involves repairing a few dinged walls, fresh paint, new carpet, or refinished floors. You start entering a grey area by replacing major appliances in the kitchen.

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Real Estate Agent Commissions: How Much Do Agents Make in 2022?

HomeLight

Most real estate agents get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average real estate agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year.

Agents 117
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The appraisal industry’s governance problem

Housing Wire

Imagine if the Consumer Financial Protection Bureau ’s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency’s rule-writing staff — and they would be creditors, too. The staff wouldn’t have to give up their industry perches while they wrote rule, and the rules they wrote would not only set the standards for industry practices, but also the criteria

Lending 370
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Canada Is Seen As More Corrupt As Money Laundering Estimates Hit $113 Billion

Better Dwelling

Canada’s squeaky clean reputation took a nosedive, according to an anti-corruption watchdog. This week, Transparency International (TI) released its annual Corruption Perceptions Index for 2021. The index shows Canada continues its spiral lower, having fallen out of the top 10 in 2019. Extensive money laundering and opaque institutions are amongst the reasons for the decline. […].

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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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To-Do Checklist When Preparing For An Open House

Realty Biz

Are you getting ready to host an open house for your property? If so, make sure you follow this checklist to ensure that everything goes smoothly! By preparing in advance and having a plan of action, you can avoid any last-minute surprises and ensure that your guests have a great experience. 1) Remove clutter & personal items. Open houses are typically public events, so you’ll want to make sure your home is as tidy as possible.

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Fed Rate Hike Coming in March

Eye on Housing

At the conclusion of its January policy meeting, the Federal Open Market Committee strongly signaled that it will undertake its first, post-covid increase of the federal funds rate in March. The Fed is tightening monetary policy in response to the highest inflation readings in nearly 40 years. These inflationary pressures have increased both consumer costs and businesses input costs, including.

Marketing 121
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Rocket rolls out mortgage teams for brokers

Housing Wire

Rocket Pro TPO will pair each of its brokers with a team of in-house mortgage experts, made up of underwriters, closing specialists and purchase title coordinators, to help brokers navigate the loan closing process. The program, dubbed “Crews” is live as of Jan. 24. According to Rocket, brokers will personally know the crew leaders and will work with them often, which will help brokers “get loans closed fast and with certainty.”.

Mortgages 370
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Most of Canada’s Huge Pile of Savings Are Held By The Wealthiest Households

Better Dwelling

Canadians have been on a savings spree like few other points in history, but it might not be what it seems. Statistics Canada (Stat Can) data shows household savings have been soaring. The country expects these savings to be unlocked and create an economic boom in the future. We broke down households by income fifths […]. The post Most of Canada’s Huge Pile of Savings Are Held By The Wealthiest Households appeared first on Better Dwelling.

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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.