Housing Wire

OCTOBER 21, 2020

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents. “It’s been a circus, really,” said Anthony Lamacchia, Realtor and owner of Lamacchia Realty in the Boston suburbs. “Anything right outside of Boston is going like wildfire, but especially the single-family homes.” Even though the averag

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Keeping Current Matters

OCTOBER 19, 2020

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say.

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Realtor.com

OCTOBER 22, 2020

CatLane/iStock If you’re buying a home, choosing the right amount of home insurance for your property is key. Buy too much, and you’re wasting cash on coverage you’ll never use. Buy too little, and if a hurricane, hailstorm, or other disaster strikes your home, your insurance might not cover the costs to fix the damage—which means you’ll be paying out of your own pocket.

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Better Dwelling

OCTOBER 19, 2020

Canada’s largest bank is prepared for the wave of mortgage defaults coming. Phew! Wait… what defaults? RBC Capital Markets sent a research note to clients last week. In it, the analysts mention up to a fifth of deferred mortgages are at risk of default. It’s great the bank is well prepared for this event, but […]. The post RBC Just Forecasted Mortgage Defaults May Be Higher Than If The BoC Did Nothing appeared first on Better Dwelling.

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Speaker: Jady West, VP of Hospitality & Chris Bennett, Head of Sales & Engineering

The modern hotel room is no longer just a place to stay—it’s an experience to remember. Today’s guests expect seamless 5G connectivity, personalized comfort, and high-tech convenience. From AI-powered smart room controls to in-room entertainment and app-based services, technology is redefining hospitality from the inside out. In this new session featuring industry pros Jady West and Chris Bennett, we’ll explore how high-speed, high-bandwidth connectivity powers the innovations that are enabling

Technology

Housing Wire

OCTOBER 19, 2020

The U.S. forbearance rate measuring the share of mortgages with suspended payments fell to 5.92% last week, the lowest since mid-April, according to the Mortgage Banker Association. The rate dropped from 6.32% in the prior week, MBA said in a report on Monday. The decline was largely led by portfolio loans and private-label securities as their share of mortgages in forbearance fell to 8.86% from 10.06% the week prior.

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Realtor.com

OCTOBER 22, 2020

realtor.com Flipping a house is a lot of work, and can yield a big profit. But not every project is guaranteed to be lucrative. So what’s the key to successfully making over a fixer-upper and selling it for a gain? Our new series “What the Flip?” presents before and after photos to identify the smart construction and design decisions that ultimately helped make a house desirable to buyers.

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Better Dwelling

OCTOBER 21, 2020

One of the world’s largest real estate brokerages sees near-term risk for Toronto condos. RE/MAX weighed in on the recent market, and observed what a lot of people are seeing – a booming detached market, and a lot of condo apartment supply. The brokerage cites 3 drivers for this trend – urban flight, lower interest […]. The post RE/MAX Turns Bearish On Toronto Condo Prices, Expects Declines Soon appeared first on Better Dwelling.

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Housing Wire

OCTOBER 21, 2020

Major forbearance policy changes have been set into motion. The Department of Housing and Urban Development announced on Tuesday an extension allowing single-family homeowners with Federal Housing Administration -insured mortgages to request an initial forbearance through Dec 31, 2020. Homeowners with FHA-insured mortgages that needed assistance due to financial hardship from the pandemic initially had through Oct. 30 to request forbearance.

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Keeping Current Matters

OCTOBER 22, 2020

As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come. Due to the undersupply of homes on the market today, there’s upward pressure on prices.

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Development

Realtor.com

OCTOBER 19, 2020

phototechno/Getty Images When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions—and soared to new heights. Paradoxically enough, one of the biggest drivers of the double-digit price hikes is the very same record-low mortgage interest rates that put homeownership within reach for the masses.

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RIS Media

OCTOBER 19, 2020

The streak of record-shattering home sales stretched to three months in September, as closings rose 21.1 percent from a year ago. On average, homes sold in a mere 39 days—a full week faster than in September 2019. Meanwhile, inventory plummeted 31.9 percent year-over-year as the number of homes on the market dropped to an all-time low in the 13-year history of the report.

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Housing Wire

OCTOBER 22, 2020

The NAR existing home sales report released today blew out all estimates with 6,540,000 in existing home sales. This epic headline punctured any bubbles the 2020 bubble boys had left in their arsenal. But before we get too excited, keep in mind we are still down 0.2% year to date compared to 2019 levels. Still, this seems like a booming housing market, right?

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Keeping Current Matters

OCTOBER 20, 2020

The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts projected earlier this year, it still means millions of people are without work. There’s no way to minimize the tremendous impact this pandemic-induced recession continues to have on many Americans.

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Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Industrial

Realtor.com

OCTOBER 20, 2020

bruev/Getty Images Home sellers know that a tidy, tasteful home will catch any buyer’s eye. That’s why many people put effort into fixing up—and even staging—the interior of their home before putting it on the market and hosting open houses. But did you know that an unkempt exterior could deter potential buyers from even setting foot in the door?

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Coldwell Banker

OCTOBER 22, 2020

Since lockdown, our kitchens have seen more use than ever, whether that’s more cooked meals to pass the time or doubling up as a home office. Even as restrictions continue to change amidst the current ‘new norm’, it’s expected that our attitude towards kitchen interior design will be forever changed with more emphasis on hygiene, flexibility and storage.

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Design 134

Housing Wire

OCTOBER 22, 2020

The average U.S. mortgage rate for a 30-year fixed loan fell to 2.8% this week, another record low, Freddie Mac said in a report on Thursday. The rate fell one basis points from the week prior and is now six basis points lower than the original all-time low set in mid-September. The average fixed rate for a 15-year mortgage was 2.33%, falling from last week’s 2.35%.

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Keeping Current Matters

OCTOBER 21, 2020

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and that percentage has been dropping steadily.

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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

Agents

Eye on Housing

OCTOBER 23, 2020

With the recent increases in the price of many residential construction materials, and in particular softwood lumber, NAHB wanted to get a better understanding of how these price increases are impacting remodelers. In the Q3 2020 Remodeling Market Index (RMI), remodelers were asked to report on material shortages, if any, as well as material price changes over the last six.

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Sotheby's International Real Estate

OCTOBER 19, 2020

St. Helena, California | Ginger Martin , Sotheby’s International Realty – Wine Country – East Napa Street Brokerage. The word patio may bring to mind warm nights and seasonal produce on the barbecue, but there’s much to be said for outdoor spaces that can be enjoyed beyond the summer season. Crisp autumn mornings and cooler evenings don’t necessarily mean it’s time to head indoors — it may simply be time for a seasonal update.

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Design Brokerage As-is Marketing 131

Housing Wire

OCTOBER 23, 2020

In the third quarter, luxury home sales jumped 41.5% , the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now. “What we’re seeing here in Palm Beach is a total frenzy,” Dana Koch, a sales associate with Corcoran Group , the Koch Team in Palm Beach, told HousingWire.

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Lighter Side of Real Estate

OCTOBER 21, 2020

Millions of people pay rent, cutting a check to their landlord in exchange for permission to have somewhere to rest their head at night. While there’s nothing wrong with renting, many renters eventually make the jump into homeownership, choosing to reap the fruits of their labor in a more personal and long-term way. Maybe you’re one of the former: toiling away at an office, factory, or restaurant, only to sign your hard-earned check over to some strange guy with wispy hair and an attitude proble

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Banks Mortgages Sales 130

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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.

Sales

Eye on Housing

OCTOBER 20, 2020

Single-family starts experienced continued gains in September, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Contrasting the different subsectors of housing, while single-family permits are showing continued strength, multifamily permits continue to weaken as a consequence of the 2020 virus crisis.

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Development 133

Sotheby's International Real Estate

OCTOBER 17, 2020

Whether the setting is steps from a beach in the Hamptons or the countryside outside Santa Fe, a vaulted ceiling has the power to transform a room into a space filled with volume, drama, and light. Monte Nido Ranch. Calabasas, California | Shen Schulz , Sotheby’s International Realty – Malibu Brokerage. At the heart of 3.45 glorious acres in the Santa Monica Mountains, this magnificent home of Mediterranean inspiration encourages lavish living and entertaining with its chef’s kitchen, theater,

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Housing Wire

OCTOBER 22, 2020

Sales of existing homes took off in September, jumping 9.4% from August to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors said in a report on Thursday. Compared to a year ago, sales are up 20.9%. “Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,” said Lawrence Yun, NAR’s chief economist.

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The Mortgage Report

OCTOBER 21, 2020

If you can make lenders compete for your mortgage, you can lower your interest rate and get the best deal on your home loan and closing costs. Here's how.

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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

Brokerage

Eye on Housing

OCTOBER 23, 2020

According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 2.71 percent in 2019, down slightly from 2.88 percent in 2018. A total of 24,000 5,000+ square-foot homes were started in 2019, compared to 25,000 in 2018. The slight decline in 5,000+ square foot homes. Read More › The post Share of 5,000+ Square Foot Homes Down Slightly in 2019 first appeared on Eye On Housing.

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Construction 133

Sotheby's International Real Estate

OCTOBER 20, 2020

As far back as the silent film era, the iconic residences of the Hollywood Hills have been home to noteworthy members of the entertainment industries. That esteemed and storied locale is the site of this very private modern villa, which combines the trappings of classic Mediterranean design with the clean lines, sophisticated style, and desirable amenities of top-tier contemporary living—not to mention some of the most enviable views in Southern California.

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Housing Wire

OCTOBER 20, 2020

The leaders of Fannie Mae and Freddie Mac sat down with Mortgage Bankers Association Chair-elect Kristy Fercho on Tuesday at the MBA Annual conference to discuss how the GSEs have managed the unprecedented COVID-19 crisis. Freddie Mac’s David Brickman and Fannie Mae’s Hugh Frater also offered their takes on challenges with affordable housing, racial disparities with homeownership, expectations for 2021 and – yes, you knew it was coming – the 50 bps adverse market fee that’s due to hit lenders do

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