Sat.May 22, 2021 - Fri.May 28, 2021

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Mortgage applications decrease 4%

Housing Wire

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. “Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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3 Things To Prioritize When Selling Your House

Keeping Current Matters

Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market , which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move. 1.

Staging 274
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Schitt’s Creek, but in Real Life: Owner Tries Selling California Desert Town

Realtor.com

Angela Owens/The Wall Street Journal NIPTON, Calif.—In the award-winning television show “Schitt’s Creek,” the owners of the tiny town of the same name try to sell it, with no luck. Roxanne Lang feels like she’s been living that story line on repeat. For more than half a decade now, she has been trying to sell her own town, an 80-acre plot of land on the California side of the Mojave Desert, about an hour away from Las Vegas.

Finance 145
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BMO Revises Worst-Case Forecast For Canadian Real Estate To A Much Larger Drop

Better Dwelling

Canadian real estate’s high flying prices are increasing the risk of a large correction. BMO Q2 2021 disclosures show the bank made big revisions to its risk forecast. In the best-case scenario, they see exuberance pushing prices more than twice as high as previously thought. In the worst case, they’ve more than doubled the size […].

Banks 145
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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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Freddie Mac taps Michael DeVito as next CEO

Housing Wire

Nearly six months after David Brickman stepped down, government-sponsored entity Freddie Mac has tapped ex- Wells Fargo mortgage executive Michael DeVito to assume the role of CEO. DeVito, who spent more than two decades at Wells Fargo before retiring last year , will take the helm of the GSE on June 1. “I am delighted to announce that, after an exhaustive search, the Board of Directors has chosen Michael DeVito as the next CEO of Freddie Mac,” said Sara Mathew, non-executive chair of Fred

Lending 508

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Most Pandemic Buyers Happy With Their Home Purchase and the Process

Lighter Side of Real Estate

Between COVID restrictions, low inventory, and high competition, there’s no denying that the real estate market has been tough for buyers over the past year. But despite those challenges, the majority of buyers are happy with their decision to buy. According to a recent survey from realtor.com , 71 percent of buyers who purchased their home over the past year said buying was a good decision—and a full 75 percent said their new home is the right fit for their family.

Sales 145
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The Canadian Property Bubble Is Pushing Rents Higher As More Apartments Sit Empty

Better Dwelling

One of Canada’s frothiest market indicators surfaced — rents are rising with vacancies. Canada Mortgage and Housing Corporation (CMHC) data from their 2020 rental survey shows a sharp uptick in vacancies. Normally this is expected to bring prices down, but not in a property bubble. Rental prices continue to rise along with increasing vacancies. In […].

As-is 145
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Turnkey homes vs. fixer-uppers: The best home for your wallet

Housing Wire

There’s a common misconception that fixer-uppers are less expensive than turnkey properties. While turnkey properties come with a higher price tag , they can be a cheaper investment in the long run. According to a study conducted by Buildword , 53% of buyers who purchased a fixer-upper exceeded their budget, compared to 15% of buyers who purchased a turnkey home.

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Where Do Experts Say the Housing Market Is Heading?

Keeping Current Matters

As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come. realtor.com. “. homes continue to sell quickly in what’s normally the fastest-moving time of the year.

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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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6 Bedroom Improvements That’ll Help Sell Your Home Faster—and for More Money

Realtor.com

Getty Images You’re ready to list your house—but are your dated bedrooms a turn-off to prospective buyers? Today’s buyers are more focused than ever on finding luxe master suites that double as relaxing retreats. “Pre-pandemic, nobody really cared about the bedroom. Now, people need somewhere to get away,” says Brad Whittaker , an agent with Realty ONE Group Pacifica in Longview, WA.

Staging 144
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Foreign Investors Are Scooping New Condo Supply In Toronto and Vancouver… Again

Better Dwelling

Toronto and Vancouver condos are starting to attract foreign buyers again… at least the newer inventory is. Canada Mortgage and Housing Corporation (CMHC) data show a mixed movement in 2020. Toronto’s total rate of non-resident condo ownership declined, while Vancouver’s increased. Both cities are still seeing non-resident ownership of new supply climb though.

Investor 143
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NAR: Almost 50% of homes sold for more than list price

Housing Wire

The National Association of Realtors Confidence Index Survey for April reveals how hot the housing market is. Per the report, homes that sold had five offers on average , and nearly 50% of homes sold for more than their list price during the four weeks ending May 16. NAR expects home prices in the next three months to increase nearly 6% from one year ago and will increase almost 3% from last year’s sales level.

Sales 479
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How Misunderstandings About Affordability Could Cost You

Keeping Current Matters

There’s a lot of discussion about affordability as home prices continue to appreciate rapidly. Even though the most recent index on affordability from the National Association of Realtors (NAR) shows homes are more affordable today than the historical average , some still have concerns about whether or not it’s truly affordable to buy a home right now.

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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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Median Age of Construction Workforce

Eye on Housing

NAHB analysis of the most recent 2019 American Community Survey (ACS) data reveals that the median age of construction workers is 41, the same as a typical worker in the national labor force. While the residential construction has been adding jobs during the pandemic, access to skilled labor is still a business challenge in 2021. The median age of construction.

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Canadian Housing “Mania” Is Reversing Its Unsustainable Spike: RBC

Better Dwelling

Canada’s largest bank thinks the real estate mania might be coming to an end, as conditions loosen. The market is still very tight, according to RBC senior economist Robert Hogue. However, buyer demand is falling much faster than new inventory. April reported the third consecutive month where buyers dropped out of the market faster than […]. The post Canadian Housing “Mania” Is Reversing Its Unsustainable Spike: RBC appeared first on Better Dwelling.

Banks 141
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How is the housing market impacting real estate agents?

Housing Wire

George Schechter has an entirely new business model. A real estate agent at Compass Florida in Coconut Grove, Schechter has 12 years of experience in the real estate industry, so he’s familiar with its cyclical ups and downs. But today’s housing market has forced him to pivot to remain successful. “This market is like nothing we’ve ever seen,” he said.

Agents 473
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Homes Across the Country Are Selling Fast [INFOGRAPHIC]

Keeping Current Matters

Some Highlights. In today’s whirlwind real estate market, houses are selling at astonishing speed – from sea to shining sea. Four years ago, the average house spent 39 days on the market. Two years ago, homes were on the market for about 24 days. Today, that number has dropped to just 17 short days. If you’re looking to sell your house quickly and on the best possible terms, today’s market can’t be beat.

Sales 226
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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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Realogy’s Sherry Chris Shares Her Real Estate Marketing Insight

Realty Biz

If there is one thing in this world that remains certain, it’s the fact that legends are busy and difficult to catch up with. Fortunately, even in a worldwide pandemic and cataclysm, many times we find even the most famous and influential leaders are a lot more accessible than we think. Sherry Chris, the President, and CEO, Realogy Expansion Brands, is one of those people. .

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Canadian Mortgage Rates Forecast To Rise Even Before BoC Hike: Desjardins

Better Dwelling

A large Canadian financial institution sees higher mortgage rates in your future. Desjardins’ mortgage forecast shows they expect mortgages to continue to climb from here. They see 5-year fixed mortgage rates hitting pre-pandemic levels by next fall. That is before the first expected hike to the overnight rate from the Bank of Canada. Canadian Mortgages […].

Mortgages 139
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VA-like housing bill proposed for first responders, teachers

Housing Wire

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. U.S. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.), John Katko (R-N.Y.), and Bonnie Watson Coleman (D-N.J.) introduced the bill , dubbed the Homes for Every Local Protector Educator and Responder Act, on May 13. The bill would allow borrowers to finance up to 100% of the acquisition price.

FHA loan 473
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Record Numbers of Builders Report Material Shortages

Eye on Housing

Shortages of materials are now more widespread than at any at any time since NAHB began tracking the issue on a regular basis in the 1990s, in is survey for the NAHB/Wells Fargo Housing Market Index (HMI). In response to special questions on the May 2021 HMI survey, over 90 percent of builders who buy the product in question reported.

Marketing 138
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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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5 Harsh Realities You’ll Face If You Renovate This Summer

Realtor.com

Getty Images One of the more tangible side effects of the coronavirus pandemic is that, with all the time we’ve clocked at home, many of us are itching to renovate our space—whether that’s with a kitchen remodel , new home office, half-bath , or even more ambitious projects. And as COVID-19 begins easing up in many areas, you might be wondering: Has the time finally arrived to hire contractors to turn your renovation dreams into reality?

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Toronto New Home Prices Fall Up To $48,000, As Supply Eases Pressure

Better Dwelling

Greater Toronto new home prices slipped, as inventory helped to ease pricing pressure. BILD GTA, a local developer group, said sales climbed in April, especially in the condo segment. Higher inventory helped to attract more buyers, but also contributed to lower prices. New home prices fell up to $48,000 in just one month. A hefty […]. The post Toronto New Home Prices Fall Up To $48,000, As Supply Eases Pressure appeared first on Better Dwelling.

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Mortgage rates drop below 3% again

Housing Wire

Mortgage rates fluctuated again last week, down 5 basis points to 2.95% after managing to pop back up to 3% the week prior, according to Thursday data from Freddie Mac ‘s PMMS. Mortgage rates have been hovering around 3% for over a month now, as macro economic factors left the bond market hesitant over the global recovery. “Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow,” said Sam Khater, Fred

Mortgages 466
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Domestic Sawmill Output Not Keeping Up with Construction

Eye on Housing

The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021. Despite a historically low level of overall housing inventory and solid demand due to low mortgage interest rates and demographics, new construction has been unable to add additional needed supply to the market, resulting.

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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.