2023

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Why are exisitng home prices up year over year?

Housing Wire

Existing home prices are up 3.9% year over year, with demand near 21st-century lows. How is this possible? NAR ‘s existing home sales report on Thursday gives us insight into the why factor. The median existing-home price for all housing types in August was $407,100, an increase of 3.9% from August 2022 ($391,700). All four U.S. regions posted price increases.

Mortgages 521
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RE/MAX settles bombshell commission lawsuits for $55M

Inman

The deal resolves claims in both the Sitzer and Moehrl antitrust cases. The franchisor agreed to change its business practices, including "no longer forcing homesellers to pay buyer’s agents.

Agents 208
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Embracing Sustainability: The Top Eco-Friendly Home Improvements

RIS Media

Green home improvements have taken center stage in an era marked by growing environmental concerns and a desire to reduce carbon footprints. Homeowners increasingly recognize the importance of adopting Eco-friendly home improvement practices for the planet’s well-being and the long-term benefits they bring to their lives. From solar panels to energy-efficient appliances, an array of… The post Embracing Sustainability: The Top Eco-Friendly Home Improvements appeared first on RISMedia.

Staging 137
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Single-Family Permits Decline in July 2023

Eye on Housing

Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877. Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest.

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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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A Hit TV Show Can Make—and Break—Local Housing Markets

National Association of Realtors: Culture Scan

A Hit TV Show Can Make—and Break—Local Housing Markets Learn from the cases of “Fixer Upper” and “Yellowstone” what you may be dealing with if your area suddenly gains stardom.

Marketing 134
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17 Beautiful Places in New York City That Are Sure to Delight

Redfin

Explore 17 beautiful places in New York City - stunning nature, culture, parks, and more all in one wonderful city.

Banks 161

More Trending

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Instant Reaction: Fed Announcement, September 20, 2023

NAR: Economic Outlook

Instant Reaction: Fed Announcement, September 20, 2023 The Fed needs to wait and not raise rates. Possible interest rate cuts then need to be considered once inflation is fully under control.

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May Housing Starts: Record Number of Multi-Family Housing Units Under Construction

Calculated Risk Real Estate

Housing Starts Increased Sharply to 1.631 million Annual Rate in May From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7 percent above the revised April estimate of 1,340,000 and is 5.7 percent above the May 2022 rate of 1,543,000.

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Breaking: Secret Order of Tents Society Granted Tax Exemption, Protecting Historic Bed Stuy HQ

Brownstoner

The historic secret aid society run by Black women that has a headquarters in the magnificent but dilapidated building at 87 MacDonough Street was granted a tax exemption today, according to New York City Council Member Justin Brannan. Brannan, chairman of the committee on finance, said in an email that the… Read More > The post Breaking: Secret Order of Tents Society Granted Tax Exemption, Protecting Historic Bed Stuy HQ appeared first on Brownstoner.

Finance 145
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Researchers say these Seattle office buildings could be housing instead

Seattle Times Real Estate

A research paper identified over 90 buildings across the region that would make good candidates for conversion to apartments, but such projects may be unlikely.

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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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Is the apartment boom finally over?

Housing Wire

Have we finally hit the limits of the massive boom in 5-unit apartment construction that has been a positive driver of jobs and the fight against inflation since January of 2021? Tuesday’s housing starts report was a mixed bag: housing starts and completions fell with a big hit to 5-unit housing starts. However, housing permits continued to slowly increase, as we’ve seen over the last several months.

Mortgages 534
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Lawyer’s letter offers glimpse into NAR’s internal harassment probe

Inman

A July letter from Polsinelli, the outside counsel tapped to investigate misconduct at NAR's behest, found evidence of "creepy" and "disrespectful" behavior that, until now, had not been made public.

MLS 206
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How to Find and Service Your Septic Tank: A Comprehensive Guide

RIS Media

How do you find your septic tank? Great question, right? Septic tanks are crucial components of properties not connected to municipal sewage systems. Proper maintenance and regular inspections of septic systems are essential for their functionality and longevity. One of the first steps in septic system maintenance is to know the location of your septic… The post How to Find and Service Your Septic Tank: A Comprehensive Guide appeared first on RISMedia.

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103 Real Estate Jokes, Puns & Pick-up Lines You Haven’t Heard 1,000 Times

The Close

Is the market roller coaster of 2023 getting to you? Need a little pick-me-up? Perhaps a healthy dose of real estate jokes, puns, and pick-up lines is just what the doctor ordered to get you back on track. We hope you memorize a few of these cheesy, hilarious, oh-so-true, and groan-worthy real estate jokes to tell at tomorrow’s team or client meeting.

Agents 145
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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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What Does Contingent Mean in Real Estate?

HomeLight

You’ve been browsing for a home when suddenly a particular listing catches your eye. It’s a lovely four-bedroom Colonial, beautifully presented in the heart of a mature neighborhood. But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” So, what does contingent mean in real estate?

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Which Banks Are in Danger of Failing or Collapse?

Marco Santarelli

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure due to rising interest rates and a high proportion of uninsured deposits. The report titled ‘Monetary Tightening and US Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?' estimated the market value loss of individual banks' assets during the Federal Reserve's rate-increasing campaign.

Banks 145
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Luxury Real Estate Headlines, Final Week in June 2023

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Brisbane, Queensland, Australia | Queensland Sotheby’s International Realty The mansion, owned by a JLL executive, is hitting the market for A$20 million. A Brisbane Equestrian Compound Is on Sale for $13.2 Million – Bloomberg The Gallery-Like Home of Collector Chara Schreyer, Who Championed ‘Strange’ Art, Has Come to Market in San Francisco – artnet Bulgaria’s Most Expensive Home Lists fo

Sales 145
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How Does Agency in Real Estate Work: A Comprehensive Guide

Realty Biz

Real estate transactions involve complex legal and financial processes that require the involvement of professionals who act on behalf of clients. Real Estate agents play a crucial role in facilitating the buying and selling of properties. Understanding the various types of agency relationships in real estate is essential for buyers and sellers to navigate the intricacies of the market effectively.

Agents 129
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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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Cities are Cracking Down on Short-Term Rentals—What Does It Mean For Investors?

Bigger Pockets

Nationwide, cities continue to impose new regulations on short-term rentals, effectively putting Airbnb hosts out of business in some areas. How can investors protect themselves?

Investor 121
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End Nears for Crown Heights Spice Factory as Developers Seek Demo Permit and New Rezoning

Brownstoner

In a surprise twist, after a failed Crown Heights rezoning whose resulting 39-story towers and their shadows would have threatened the nearby Brooklyn Botanic Garden, the same developer is back and, unexpectedly, is now seeking a new rezoning to build 14 stories on the property. At the same time, a… Read More > The post End Nears for Crown Heights Spice Factory as Developers Seek Demo Permit and New Rezoning appeared first on Brownstoner.

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Final Look at Local Housing Markets in May

Calculated Risk Real Estate

Each month I track closed sales, new listings and active inventory in a sample of local markets around the country (over 40 local housing markets) in the US to get an early sense of changes in the housing market. In addition, we can look for regional differences. For example, listings in Texas and Florida are up more than in most other areas , and sales are down less year-over-year.

Marketing 137
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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In August, the sales pace of new homes fell 8.7% compared to July , reaching a seasonally adjusted annual rate of 675,000. On a year-over-year basis, new home sales were up 5.8%.

Sales 493
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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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NAR throws support behind Bob Goldberg in face of growing unrest

Inman

Support for the embattled CEO, who many expected to announce his early retirement as a result of a fast-moving harassment scandal, came late Thursday with a statement from new president Tracy Kasper.

MLS 205
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Does a Mortgage Pre-Approval Expire?

RIS Media

Before you buy a home, unless you have the cash to purchase outright, you’ll need to get pre-approved. Understanding how mortgage pre-approvals work is essential. This means finding a lender that offers the type of mortgage you want and then going through the pre-approval process. They will then give you a pre-approval letter that you… The post Does a Mortgage Pre-Approval Expire?

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Canadian Real Estate Bubble May Crash Until 2025 As Indicator Flashes Warning

Better Dwelling

Canada’s real estate bubble is popping, and another indicator is flashing a warning. Residential investment as a share of GDP fell again in Q3 2022, after peaking a year before. Such a large drop in housing investment has only ever preceded the popping of a real estate bubble. Central bank research also indicates real home […]. The post Canadian Real Estate Bubble May Crash Until 2025 As Indicator Flashes Warning appeared first on Better Dwelling.

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Total Makeover: What’s the Cost of Gutting a Home and Remodeling?

HomeLight

Most home renovation shows would have you believe that gutting and remodeling your house is as simple as a 30-minute programming block. Draft up some pretty designs, get crazy with a sledgehammer, lay some tile, and bam — your dream house is complete. The reality is a little more complicated, not to mention pricey. According to HomeAdvisor, a full home renovation costs $150,000 on the high end, and that doesn’t account for unexpected bumps along the way.

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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.

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List of Failed Banks in the United States

Marco Santarelli

In this blog post, we will be reviewing the list of failed banks in the United States. It's never good news when we hear about a bank failure , and unfortunately, there have been quite a few in the United States over the years. From Washington Mutual and IndyMac in 2008 to Guaranty Bank and First NBC Bank in 2017, these failures can have a big impact on customers, employees, and the economy as a whole.

Banks 139
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What’s Old Is New Again: 4 Ingenious Home Transformations

Sotheby's International Real Estate

Whether a restyled former synagogue or a transfigured community theater, these four properties have been painstakingly, fashionably modified, respecting each one’s provenance while introducing architectural and aesthetic innovations. Sonoma’s Ruby Stone Building Ginger Martin | Sotheby’s International Realty – St. Helena Brokerage History meets modern luxury in this distinctive 6,743-square-foot property just a block from the Sonoma Plaza.

Brokerage 145
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Understanding Why Under Contract Homes May Fall Apart

Realty Biz

Real estate transactions involve multiple stages, with "under contract" being a critical phase. It's a pivotal point where the homebuyer and seller have agreed on price and terms, but the deal has not yet closed. However, not all homes under contract successfully transition to a successful sale. We will explore why under-contract homes may fall apart and clarify the difference between "under contract" and "pending" status in real estate.

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Short-Term Rentals Had a Great Summer—Here’s Where Investors Saw the Most Demand

Bigger Pockets

No "Airbnbust" this year. The short-term rental market had a great summer, and demand doesn't look like it's going anywhere anytime soon. These markets had the best jumps this summer.

Investor 124
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The Secret to Building Successful Digital Sales Programs in 2022 and Beyond

Speaker: Jordi Gili, International Speaker, Managing Director at Execus, Professor Geneva Business School

As we kick off 2022, companies are giving more attention to their Digital/Social Sales Programs. While companies are enabling their sales professionals with coaching and a variety of digital tools to connect with potential customers, they're experiencing fluctuating KPIs. The secret to having a successful digital sales program is to have a structured Corporate Digital Selling Initiative that is centered around these four pillars: 1.