Sat.Oct 17, 2020 - Fri.Oct 23, 2020

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Mortgage rates hit another record low this week

Housing Wire

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%.

Mortgages 535
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Real Estate Continues to Show Unprecedented Strength This Year

Keeping Current Matters

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.

Equity 283
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How Much Home Insurance Do I Need? A Guide for Buyers

Realtor.com

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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RBC Just Forecasted Mortgage Defaults May Be Higher Than If The BoC Did Nothing

Better Dwelling

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.

Mortgages 143
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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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Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

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.

Marketing 534

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What the Flip? From Beach Bummer to Modern Marvel, This Home Remodel Is the Stuff of Dreams

Realtor.com

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.

Design 139
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RE/MAX Turns Bearish On Toronto Condo Prices, Expects Declines Soon

Better Dwelling

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.

Brokerage 137
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The housing bubble boys blew it in 2020

Housing Wire

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?

Sales 535
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Home Values Projected to Keep Rising

Keeping Current Matters

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.

Sales 274
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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 Are Home Prices Rising So High? Blame Record-Low Mortgage Rates

Realtor.com

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.

Mortgages 137
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77% of Remodelers Report A Framing Lumber Shortage

Eye on Housing

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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MBA: Mortgage forbearance rate falls to lowest level since mid-April at 5.92%

Housing Wire

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.

Mortgages 545
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Americans Are Gaining Confidence in the Economy

Keeping Current Matters

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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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 Modest Front-Yard Updates Home Sellers Should Never Forget

Realtor.com

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?

Design 137
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4 Ways to Adapt Your Kitchen to 2020’s ‘New Norm’

Coldwell Banker

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.

Design 127
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Existing home sales surge 9.4% in September

Housing Wire

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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Why Today’s Options Will Save Homeowners from Foreclosure

Keeping Current Matters

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.

Equity 201
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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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Wayne Gretzky is Selling his $22.9M California Home Designed by ‘The Megamansion King’

Fancy Pants Homes

Canadian ice hockey legend Wayne Gretzky is looking for a buyer for his sprawling Colonial Revival-style estate in Thousand Oaks, Calif. The gated (and highly private) compound has 13,000 square feet of luxury living space spread across a 6-bed, 8-bath main house and two guest houses, which Gretzky and his wife, Janet, are hoping will fetch them $22.9 million.

Design 126
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How calendars can stop your procrastination, boost productivity

The American Genius for Real Estate

(PRODUCTIVITY) As the old method of pen-to-paper planning comes back in style, see how its use can help with time management. The post How calendars can stop your procrastination, boost productivity appeared first on The American Genius Real Estate.

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Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Guild agreed to settle the federal lawsuit, brought by the Department of Justice , for just under $25 million, the government said Thursday. It did not admit to any wrongdoing.

Mortgages 483
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Looking for a Life Change? Skate Into a Roller Rink on Sale for $359K

Realtor.com

realtor.com If you’re itching to become an entrepreneur, make your way to the hills of West Virginia. We’ve found a listing for a buyer looking to break into the business world in one fell swoop. A 5.43-acre spread offers a roller-skating rink, a birthday-party venue, a haunted house, and assisted-living apartments, all under one roof. Oh, and there are owners’ quarters, so you can keep a close eye on your investment.

Sales 126
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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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1 Page Real Estate Content Marketing Plan to Boost your Digital Presence

Agent Drive

In 2020, content marketing will dominate the real estate marketing landscape. High-quality, informative and interesting content will remain the best way to generate and nurture online leads and establish a strong digital presence. If you’re looking to take your real estate content marketing efforts up a notch, your journey starts here. This is why a […].

Marketing 124
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Brand Report: Three Months of Record-Breaking Home Sales

RIS Media

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.

Branding 132
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NAR boosts awareness of fair housing issues with newest ad campaign

Housing Wire

The National Association of Realtors has launched a new ad campaign , an extension of its “That’s Who We R” effort, working with creative advertising agency Havas Chicago to create an omnichannel campaign to drive awareness of fair housing issues. NAR said, “this ad won’t end discrimination in real estate. People will,” and recommends that its members and the public report fair housing violations to HUD.gov.

Branding 464
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Radio Personality Anthony Cumia of ‘Opie and Anthony’ Fame Selling $3.1M NY Home

Realtor.com

Cindy Ord/Getty Images, realtor.com Radio shock-jock Anthony Cumia has listed his shockingly nice home in Roslyn Heights, NY, for $3.1 million. The controversial radio personality, a native of Queens, purchased the Long Island abode in 2006 for $2.9 million. Cumia built an acoustic studio at his residence and began broadcasting from the home from 2012 until 2015.

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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.