Sat.Jun 05, 2021 - Fri.Jun 11, 2021

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Selling your home? Make sure you’re aware of hidden costs

Housing Wire

It’s no secret that buying a home takes time and money. Well, it turns out, so does selling a home. According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one.

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Home Price Appreciation Is as Simple as Supply and Demand

Keeping Current Matters

Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows.

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Canadian Schools Will Start Teaching 14 Year Old Kids How To Apply For Mortgages

Better Dwelling

There is no better time to teach a child how to apply for a mortgage, than during a real estate bubble, amiright? The Government of Ontario released some details on the new Grade 9 curriculum. Education minister Stephen Lecce announced math classes will now include financial literacy to make it more relatable to youth. Of […]. The post Canadian Schools Will Start Teaching 14 Year Old Kids How To Apply For Mortgages appeared first on Better Dwelling.

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The Silent Agony of Selling a Home That Feels Like, Well, Home

Realtor.com

Christina Vercelletto I was pregnant with our second child when my husband and I started looking for our forever home. At the time, we were in a small apartment we’d long outgrown, and wanted all the suburban trappings of family life. We looked at 14 houses that sounded right for us, but in reality were not. Lucky No. 15, a ranch house with a huge yard on a short block overlooking Long Island’s Great South Bay, felt right from the get-go.

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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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Why we can’t build our way out of this hot housing market

Housing Wire

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. Building more homes, it was said, would solve all sorts of social problems, from making homeownership more affordable to ending homelessness. Today we are perhaps less prone to believing that a glut of new homes is the panacea society is waiting for, but the siren call to build more homes continues to be broadcast by a host of housing pundits and social do-gooders

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New Book Dives Into Canadian Real Estate, Gangs, Laundering, and Corrupt Officials

Better Dwelling

The most important book on Canadian real estate you’ll read this year isn’t about demographics or interest rates. It’s investigative journalist Sam Cooper’s new book, Wilful Blindness: How A Network of Narcos, Tycoons and CCP Agents Infiltrated The West. The controversial best-seller outlines how business tycoons and China set out for a power grab 40 […].

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Count of Open Construction Jobs Near Two-Year High

Eye on Housing

The count of open construction jobs increased in April to 357,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory. Overall, hiring in the construction sector slowed in April, declining to a 4.5% rate.

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UWM goes on the offensive with price-match guarantee

Housing Wire

United Wholesale Mortgage has been aggressively price-cutting loans to put pressure on competitors for months now. It appears they’ve just thrown gas on the fire in the hopes of boosting their second quarter numbers, while hitting their rivals ahead of earnings call season. UWM said on Monday that they’ll price-match any conventional loan on primary residences up to 35 basis points with that of 15 different competitors: Caliber Home Loans , Cardinal Financial , Citizens Bank , Financ

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Why You May Want To Cash in on Your Second Home

Keeping Current Matters

When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight. Zelman & Associates recently reported that sales of primary residences grew by 9% in 2020.

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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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Canadian Household Debt To GDP Reaches 111%, Much Higher Than The US In 2008

Better Dwelling

The economy made some improvements but is still overly debt-dependent. That’s what the latest household debt to GDP data from Statistics Canada (Stat Can) shows for Q1 2021. The ratio is significantly higher than a year ago, but that aside — it was high before the pandemic. Canadian households make Americans before the Great Recession […].

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Market Wisdom from Realogy Expansion Brands CMO Jennifer Marchetti

Realty Biz

As the business world works to recenter itself in the wake of this unprecedented COVID-19 crisis, innovative leadership will prove to be the most important competitive differentiator in the years to come. With this in mind, we reached out to Jennifer Marchetti , who is the Chief Marketing Officer for the Realogy Expansion Brands portfolio, including Better Homes and Gardens® Real Estate and ERA®.

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Homebuyers are growing weary of the housing market

Housing Wire

Homebuyers are feeling pretty discouraged by the housing market these days. The latest Fannie Mae Home Purchase Sentiment Index shows that just 35% of consumers believe now is a good time to buy a home, down from 47% in April. And those who believe it is a bad time to be a homebuyer increased to 56% from 48%. “Consumers appear to be acutely aware of higher home prices and the low supply of homes , the two reasons cited most frequently for that particular sentiment,” said Doug Duncan,

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Why This Is Not Like 2008 Again

Keeping Current Matters

During the Great Recession, just over a decade ago, the financial systems the world depended on started to collapse. It created a panic that drove some large companies out of business (ex. Lehman Brothers) and many more into bankruptcy. The financial crisis that accompanied the current pandemic caused hardship to certain industries and hurt many small businesses.

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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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Timberrr! Lumber Prices Are Crashing At 30% Below Peak, And Forecast To Fall Further

Better Dwelling

The recent surge in lumber prices helped to push home prices higher, but now they’re crashing. Lumber prices closed today nearly 30% below the all-time high reached in May. The recent surge in prices pushed builder costs up by tens of thousands of dollars. This sent new home prices much higher, leading to an interesting […]. The post Timberrr!

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Why Rage Gardening Is the Stress Reliever You Need Right Now

Realtor.com

Getty Images Does the phrase “the new normal” drive you nuts? How about “these unprecedented times”? For whatever reason, these pandemic terms that we’ve all heard over and over again in these uncertain (sorry!) times are what can send me into a rage. I’m not alone in my sensitivity. Emotional distress and general anxiety have been widespread throughout the COVID-19 pandemic—chalk it up to life being thrown off course for 15-plus months.

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FHFA to review exec compensation at Fannie & Freddie

Housing Wire

For the first time in nearly a decade, the Federal Housing Finance Agency (FHFA) is taking a look at how its compensation measures up for executives at Fannie Mae and Freddie Mac. On Thursday, the regulator issued a request for input to determine if the current compensation is not “reasonable” or “comparable.” In a statement, FHFA Director Mark Calabria said the information the FHFA gathers will help to ensure transparent and appropriate executive compensation policies.

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Now we have a paint shortage to deal with too

Realty Biz

Paint is getting harder to come by, and that’s likely to have an impact of people aiming to do summer home improvement projects. It’s also delaying the construction of new homes, as builders are forced to wait for supplies of more paint. The paint shortage is primarily due to the COVID-19 restrictions that have led to major disruptions of supply chains in various different industries, experts say.

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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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Canada Funnels The Largest Share of Investment Into Housing In The OECD

Better Dwelling

Canadian housing mania is consuming more and more of the country’s capital. The country is now devoting a record share of gross fixed capital to build homes. It’s really hard to appreciate this number without looking at the rest of the world. The share of investment devoted to homebuilding makes the US bubble look like […]. The post Canada Funnels The Largest Share of Investment Into Housing In The OECD appeared first on Better Dwelling.

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10 Crucial Questions To Ask Before Hiring Movers

Realtor.com

Getty Images Buying a house is exciting. Moving to it? Not so much! Of course, hiring a professional mover to schlep your belongings from your old home to your new abode can make things a whole lot easier. Choosing the right mover, though, will require some careful vetting. While you probably know to ask certain questions—like the cost of moving and what COVID-19 precautions the mover has in place—there’s a lot more you can cover that could help you avoid some chaos-inducing curveballs dow

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IMBs have a duty to serve lower-income communities

Housing Wire

Federal Reserve Chairman Jerome Powell recently observed that across all kinds of financial services, activities that had once been principally the province of banks have moved into the nonbank sector, including IMBs. In discussing whether more financial institutions should have a duty to serve the capital and credit needs of lower-income communities — an obligation akin to that of banks under the Community Reinvestment Act (CRA) — he said that generally “ like activities should have like

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How Long it Takes to Close on a House

Realty Biz

What Is The Time Frame For Closing on a Home? One of the more popular questions asked from buyers and sellers is how long it will take to close on a house. When buying or selling a home, you feel relieved once the process closes and you have the home keys handed over to you. There is a lot that goes on between the time you find your dream home vs. when you sit at the closing table.

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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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Work From Home Will Stick, and It’ll Be Great For Employees and The Economy: NBER

Better Dwelling

The pandemic is almost over, but things aren’t going back to the way they were. A new working paper called Why Working From Home Will Stick was recently published by the US-based National Bureau of Economic Research (NBER). They found more employers are planning on adopting WFH as a regular part of operations, and it […]. The post Work From Home Will Stick, and It’ll Be Great For Employees and The Economy: NBER appeared first on Better Dwelling.

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Construction Begins at Future Amazon Warehouse on the Red Hook Waterfront

Brownstoner

Construction has started at the future Red Hook warehouse that will soon be home to an Amazon distribution center. Located at the former site of the Revere Sugar Factory at 280 Richards Street, on a pier sandwiched between IKEA and the former location of Fairway, it was long planned to be… Read More > The post Construction Begins at Future Amazon Warehouse on the Red Hook Waterfront appeared first on Brownstoner.

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Fannie Mae gives go-ahead for digital verification

Housing Wire

Fannie Mae has given mortgage servicers the green light to use third-party digital vendors to verify income and asset information. Unsurprisingly, mortgage tech firms are thrilled. In a June 9 note , the government-sponsored entity told mortgage servicers they could implement the changes immediately. Servicers can use a third-party vendor to verify the information that the borrower provided in their mortgage assistance application.

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Real Estate Market Values Surge in the First Quarter

Eye on Housing

The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that, in the first quarter of 2021, the aggregate market value of all owner-occupied real estate in the United States registered the largest numerical quarterly increase in the last 20 years’ worth of data. From $32.84 trillion in the fourth.

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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Building strong personal and professional relationships with clients is a critical success factor. Sales professionals who focus on relationship building generate more leads and raise their brand awareness. Because this can take time, having regular engagements can help you cultivate these relationships more efficiently. The most effective way to accomplish this is through direct hyper-personalized touchpoints.