July, 2024

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The financial strength of US homeowners is a cushion against a downturn

Housing Wire

With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week , and now the FHFA National Mortgage Database Aggregate Statistics , we have a lot of visibility into the financial position of the American homeowner. The important message in the mortgage data is that even as the economy perhaps finally slows and even as mortgage rates stay higher for longer than anyone expected, the housing market remains buoyed by an incredible cushion of very strong borrowers.

Equity 545
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DANGER Report follow-up to have new focus: Opportunity

Real Estate News

A sequel to the industry-challenging assessment is expected in early 2025 and will focus on the future. “The time is now for the industry to transform itself.

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Douglas Elliman, Side execs knew of Alexander bros, sources claim

Inman

New reports from "The New York Times" and "The Wall Street Journal" suggest that executives at Douglas Elliman and Side had heard about sexual assault allegations made against the Alexander brothers while they worked for their firms.

Agents 179
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NAR’s Yun Predicts Interest Rate Cuts, With More to Come in 2025

RIS Media

Interest rates may be seeing their first cut this fall, possibly even as soon as September, according to the National Association of REALTORS®’ (NAR) Chief Economist Lawrence Yun. Yun shared this prediction and more during NAR’s recent Residential Real Estate Forecast Summit for 2024. The biggest question looming on many in the industry’s minds is,… The post NAR’s Yun Predicts Interest Rate Cuts, With More to Come in 2025 appeared first on RISMedia.

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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

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.

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Developer Watermark Capital Plans 30-Story Tower for Landmarked Duffield Street Houses

Brownstoner

Brooklyn developer Watermark Capital intends to construct a 30-story apartment tower on the site of the landmarked Duffield Street houses in Downtown Brooklyn, public records show. Potentially the tower could cantilever over the historic houses, which could serve as entrances -- if the project meets with approval of the Landmarks… Read More > The post Developer Watermark Capital Plans 30-Story Tower for Landmarked Duffield Street Houses appeared first on Brownstoner.

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Home Staging 101: What is Staging and Is it Necessary for Selling Your Home?

HomeLight

Home staging is much more than just a real estate industry buzzword — it’s an essential strategy that can dramatically influence a buyer’s first impression, the sale price of a home, and how quickly it sells. HomeLight’s Summer 2023 Top Agent Insights Report estimates that professional staging can add an average of $8,300 to the resale value of a home.

Staging 111

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Buyer agreements cannot be required, Colorado official says

Real Estate News

A letter to the state’s Realtor association also calls out consumer complaints about being “ensnared in contracts with brokers” they don’t want to work with.

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Homes are sitting on the market longer amid high costs: Redfin

Inman

Almost two-thirds of homes that were for sale in June had been listed for at least 30 days without going under contract. That figure is the highest share of any June since 2020.

Marketing 180
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Estate Planning for Family Members: A Comprehensive Guide

RIS Media

Estate planning is arranging for the management and disposal of a person’s estate during their life and after death. It ensures your assets are distributed according to your wishes and provides financial security for your family. I will provide the following information to educate you on the process: The essentials of estate planning and its… The post Estate Planning for Family Members: A Comprehensive Guide appeared first on RISMedia.

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Seattle OKs incentives for developers turning offices into housing

Seattle Times Real Estate

Seattle hopes to spur hundreds of new apartments in what are now empty office buildings, but converting buildings can be expensive and difficult.

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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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What Does the Title Company Have to Do with Your Home Sale?

HomeLight

A title company wears a lot of hats over the course of a home sale. Oftentimes, the title company involved must undertake extraordinary work to address title issues that can go back 50 years or more. Depending on the state, title companies also issue insurance, hold onto funds and paperwork in escrow, and serve as closing agents. Find an Agent to Help You Navigate the Paperwork Selling real estate is a complex task.

Title 111
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Existing home sales market now close to balance with supply

Housing Wire

Today’s existing home sales report shows that the existing home market is now almost balanced. That might sound strange, but like most things I do, I have a model for it. We are very close to getting this balance nationally and in some markets we’re already there. I have often discussed four months of supply and active inventory between 1.52 and 1.93 million as a balanced market, but this equation has a second variable tied to today’s housing economics: affordability.

Closing 468
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Buyers backing out of deals in record numbers as market shifts

Real Estate News

Upward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.

Marketing 296
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Keller Williams hits milestone: $2B in profits shared with agents

Inman

The company celebrated during a live "growth call" with leaders from more than 1,000 franchisees in the U.S. and Canada. Nearly 150 KW agents have earned more than $1 million in lifetime profit share.

Agents 185
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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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Essential Tips for First-Time Condo Sellers: A Step-by-Step Guide

RIS Media

Selling a condo for the first time can sometimes be challenging. My guide will simplify the process and help you achieve a successful sale. I will provide you with the following helpful information to help you come out on top with your first condominium sale: How to prepare your condo for sale with a pre-sale… The post Essential Tips for First-Time Condo Sellers: A Step-by-Step Guide appeared first on RISMedia.

Sales 136
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When Will the Housing Market Crash Again?

Marco Santarelli

As the calendar flips to July 2024 , numerous homeowners and potential buyers are keenly observing the housing market. The pressing question on everyone's mind is: Will the housing market crash again, or are we in for a prolonged period of stability? This article delves into the current trends, expert opinions, and economic indicators to provide a comprehensive outlook on the future of the housing market.

Marketing 131
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Crucial Things to Understand About Real Estate Listing Contracts

Maximum Exposure Real Estate

A real estate listing agreement is crucial for selling your property. You will execute the contract with a Realtor who agrees to sell your house. Understanding its intricacies can save you time, money, and stress. I have put considerable effort into explaining everything you should know before signing a listing agreement: The types of real […] The post Crucial Things to Understand About Real Estate Listing Contracts appeared first on Maximum Real Estate Exposure.

Marketing 132
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Owning Manhattan? How much business SERHANT.’s agents really do

Housing Wire

Since launching in late June, Ryan Serhant’s latest reality TV venture “ Owning Manhattan ” on Netflix , has become quite the phenomenon. Despite debuting on June 28, the show cracked Netflix’s top-10 most streamed shows in the U.S. for the week ending on June 30. The show stars Serhant, who is no stranger to reality TV, having spent a decade starring in Million Dollar Listing New York , among other shows, and several of SERHANT.’s agents and team leaders.

Agents 526
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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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Mortgage rates tumble; time for buyers to ‘get serious’

Real Estate News

Despite falling rates, homebuyer demand remains weak. Now could be a chance to make offers before inventory tightens and prices rise further, one expert says.

Mortgages 307
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Summer slump sees buyers back out of deals at record rates

Inman

Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56,000 home-purchase agreements in June, according to Redfin.

Mortgages 185
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How to Evaluate Multiple Offers on a House: What to Look for Beyond the Price

RIS Media

Evaluating multiple offers on your house can be overwhelming. While the price is crucial, other factors significantly impact the final decision. I have put significant effort into providing the best guidance on how to evaluate an offer to purchase in real estate sales: Key considerations beyond the offer price How financing terms affect the sale… The post How to Evaluate Multiple Offers on a House: What to Look for Beyond the Price appeared first on RISMedia.

Finance 121
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Anatomy of a Home Appraisal Report: What Do the Different Sections Mean for Sellers?

HomeLight

The hundreds of checkboxes and data fields that make up a home appraisal report are enough to make anyone’s eyes glaze over. But together, all of the inputs determine the fate of your home sale, so get ready to put on your thinking cap and readers. “When I go on a listing appointment, if people seem like they’re being unrealistic about the list price, I bring up the appraisal,” said Al Urban , a top-selling agent in Kansas City, MO.

Agents 111
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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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U.S. Economic Growth Accelerated in Second Quarter

Eye on Housing

In the second quarter of 2024, the U.S. economy grew twice as fast as it did in the first quarter, supported by consumer spending and private inventory investment. Furthermore, the data from the GDP report suggests that inflation is cooling. The GDP price index rose 2.3% for the second quarter, down from a 3.1% increase.

As-is 111
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Mr. Cooper to acquire Flagstar’s servicing and TPO businesses for $1.4B in cash

Housing Wire

Mr. Cooper Group has struck a deal to acquire a third-party origination (TPO) platform and $356 billion in mortgage servicing rights (MSRs), advances and subservicing contracts from Flagstar Bank , owned by New York Community Bancorp (NYCB). As part of the deal, the Dallas-based servicer and lender will pay $1.4 billion in cash, funded via available cash and drawdowns of existing MSR lines.

Banks 450
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A top eXp exec jumps to fast-growing cloud-based brokerage

Real Estate News

Former eXp Chief Growth Officer Michael Valdes will spearhead the international expansion of LPT Realty, which he says is perfecting the model eXp pioneered.

Brokerage 274
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Ed Zorn: Why mandatory buyer contracts are a ‘big consumer win’

Inman

California Regional MLS's general counsel talks offers of compensation, seller concessions, steering and buyer agency agreements ahead of his appearance at Inman Connect Las Vegas.

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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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Preparing Your Home for Sale During a Divorce: A Step-by-Step Guide

RIS Media

Divorce is a challenging time and selling a home adds complexity. My guide offers a step-by-step approach to preparing your house for sale during a divorce, addressing legal, financial and emotional considerations. I have put considerable effort into educating you on the following topics: How to navigate the legal considerations of selling a home during… The post Preparing Your Home for Sale During a Divorce: A Step-by-Step Guide appeared first on RISMedia.

Sales 132
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Top 5 Stories on Brownstoner This Week: A Partition Sale May Oust a Bed Stuy Family

Brownstoner

Court Allows Partition Sale of Bed Stuy Home in Family for 75 Years Ayisha Doyle, like her mother and her children, was raised in the grand brownstone on Jefferson Avenue in Bed Stuy. She still calls the house home, one of five generations of her family who have done so since… Read More > The post Top 5 Stories on Brownstoner This Week: A Partition Sale May Oust a Bed Stuy Family appeared first on Brownstoner.

Sales 118
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What Is a Modular Home, And Should I Consider Buying One?

HomeLight

Whether you’re a first-time buyer or a seasoned property owner, a modular home can offer unique flexibility and lasting quality — often for less money than a conventionally constructed house. But if you’ve not yet considered a modular home , you’re not alone. Of the 144 million housing units in the United States, just 21.2 million people live in manufactured houses.

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Coldwell Banker adds generative AI to Listing Concierge

Housing Wire

Artificial intelligence has taken the real estate industry by storm over the past two years and Coldwell Banker is no exception. On Thursday, the Anywhere Real Estate brand announced that it had equipped its exclusive marketing platform tool Listing Concierge with generative AI capabilities. Through this update, the firm says the platform will now allow agents and concierge coordinators to automate the generation of listing descriptions, captions of images and property attributes.

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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.