Sat.Jun 22, 2024 - Fri.Jun 28, 2024

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Mortgage affordability improved in May: MBA

Housing Wire

The median monthly payment for purchase mortgage applicants decreased to $2,219 in May, down 1.6% from the prior month , according to data released Thursday by the Mortgage Bankers Association (MBA). ”Homebuyer affordability conditions improved in May as slightly lower mortgage rates and an uptick in housing inventory slightly eased the recent rise in application payment amounts,” Edward Seiler, MBA’s associate vice president of housing economics, said in a statement.

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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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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

Keeping Current Matters

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Marketing 253
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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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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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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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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

More Trending

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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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Is mortgage demand really picking up?

Housing Wire

Are we seeing the start of a market shift in mortgage demand? Notably, mortgage rates have been gradually declining, and we’ve observed back-to-back positive weeks in purchase application data for the first time since mid-March. While I typically prefer to see a sustained growth of 12-14 weeks before concluding there’s been a sea change, the low bar in purchase application data suggests that even a slight change could push demand higher if mortgage rates keep falling.

Mortgages 463
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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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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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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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REColorado owners oust board amid plans to sell MLS

Inman

Owners of the 16th largest MLS in the country plan to sell to a newly formed private company called MAZL that is run by a person identified only as J. Burks.

MLS 194
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New-home sales fall in May as inventory piles up

Housing Wire

Homebuilders with unsold inventory are feeling the pinch of high mortgage rates — and it’s showing up in new-home sales data. The U.S. Census Bureau ’s new-home sales report for May shows that transactions took a nosedive to a seasonally adjusted annual sales volume of 619,000. Despite May being part of the prime homebuying season, that number represented a 16.5% year-over-year drop and was 11.3% below the revised rate in April.

Sales 436
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REcolorado board removed as buyer is unveiled

Real Estate News

The Realtor association owners of the MLS said the decision was made “in the best interests of our collective membership” following confidentiality violations.

As-is 283
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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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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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Prospects for lower mortgage rates grow as inflation continues to ease

Inman

The Federal Reserve's preferred inflation gauge fell to 2.56 percent in May, getting closer to the Fed's 2 percent target for the 2nd month in a row. Core inflation reading is lowest since March 2021.

Mortgages 183
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Nearly 80% of brokerages won’t be profitable with lower agent commissions: AccountTECH

Housing Wire

If real estate brokerages fail to make changes to their operations, 79% of them will be unprofitable if the terms of the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement lead to typical agent commissions dropping to 2%. This is according to a study published Tuesday by AccountTECH. The study analyzed the operations of 100 randomly selected brokerages with agent counts ranging between five and 5,000.

Brokerage 436
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New home sales plummet, but prices barely budge

Real Estate News

May sales were well below April numbers and down 16.5% year-over-year, a sign that builder incentives may not be enough to overcome high rates and prices.

Sales 272
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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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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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Marilyn Monroe’s former home achieves cultural monument status

Inman

The home's current owners, heiress Brinah Milstein and reality TV producer Roy Bank, had hoped to demolish the home and said that instead of selling, they will continue their legal fight against the city of LA.

Banks 180
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REcolorado board fired as shareholders reveal new buyer

Housing Wire

The primary shareholders of REcolorado — the Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA) — have fired the current board and announced the name of the company they are selling their shares to: MAZL, LLC., headed by J. Burks. According to a statement released Friday from DMAR and SMDRA, their board members have “signed and submitted a joint, unanimous resolution removing all REcolorado board members from their position and duties,

MLS 413
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The housing market is 'stuck' — maybe for a while

Real Estate News

While interest rates continue to edge down, sales have not picked up heading into summer: “This will take many years to work itself out.

Marketing 283
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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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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.

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5 mindfulness myths debunked — so you can enhance your edge

Inman

Mindfulness is a powerful and practical skill that can enhance your edge, efficiency and performance in both personal and professional realms, broker and coach Aaron Hendon writes.

Agents 176
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Purported sale of REcolorado MLS to private equity firm surprises board

Housing Wire

The primary shareholders of REcolorado — the Denver Metro Association of Realtors (DMAR) and the South Metro Denver Realtor Association (SMDRA) — have agreed to sell the company to a private equity investor outside the industry, despite ongoing negotiations with REcolorado’s management and board members to buy back their shares, the vice chair of REcolorado has told HousingWire.

MLS 413
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C.A.R. responds to harsh criticism of its buyer agreement

Real Estate News

The California association said the Consumer Federation of America’s assessment was “misguided” and that its forms will be fully compliant.

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4 Things Seller Clients Should Do to Help Ensure a Positive Appraisal

RIS Media

After going through the time and effort of getting an accepted offer for your seller’s home, the absolute last thing you want (or need) is a problem with the appraisal that follows. Assuming a mortgage will be taken by the buyer, lenders will want to ensure that the price they pay compares favorably with similar… The post 4 Things Seller Clients Should Do to Help Ensure a Positive Appraisal appeared first on RISMedia.

Mortgages 117
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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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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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These are the best cities for real estate agents

Housing Wire

An expensive housing market doesn’t necessarily translate into a lucrative one for real estate agents. That’s according to a new report from Clever Real Estate , a company that connects homebuyers and sellers with agents. The company weighted 14 different variables to rank the top 50 metro areas in the U.S. in terms of how friendly they are to agents.

Agents 413
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Sale of leading MLS ‘may bring added uncertainty’

Real Estate News

A statement from REcolorado says its potential sale to a private equity firm is not the best way to separate MLSs from Realtor association ownership.

MLS 267
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More Evidence, Less Anecdote

RIS Media

In the current uncertain environment, it is more important than ever that we as an industry communicate the critical role housing plays in the U.S. economy. I am probably biased, since I am a researcher, but I believe there needs to be more data-backed, evidence-based analysis to help cut through some of the misconceptions and… The post More Evidence, Less Anecdote appeared first on RISMedia.

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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.