Wed.Oct 18, 2023

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61% of ADUs are built for multigenerational housing: survey

Housing Wire

One in five Americans now shares their homes with adult children, parents or grandparents. In the face of soaring housing costs nationwide, multigenerational living has gained traction as a path to make living expenses more manageable and to maintain closer family bonds. While many multigenerational families are living together under one roof, potentially leading to feelings of overcrowding, accessory dwelling units (ADUs) have emerged as a practical solution for affordable housing that allows f

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A Gut Punch to Housing Demand (8% Rates)

Sacramento Appraisal Blog

It feels like a gut-punch to housing demand to have 8% rates. So many predictions said we’d be at 6% or below by now, yet here we are. I think it’s really important to stay grounded and realistic, so let’s talk about this. I also have some market recap visuals (and a few insane graphs). […] The post A Gut Punch to Housing Demand (8% Rates) first appeared on Sacramento Appraisal Blog.

Appraisal 372
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DataDigest: Nearly 100,000 LOs have washed out

Housing Wire

For years broker channel evangelists told me that a down market would give them an edge on their retail brethren. Well, it’s certainly been a down market. How has the broker channel fared in the wake of the Fed rate hikes ? I asked the good folks at mortgage data technology firm InGenius to run the numbers. Take a look. “From the first six months of 2022 to first six months of 2023, brokers have increased their percentage from 23% to 28% while retail has decreased by that same percen

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Training on trial as plaintiffs challenge commission strategies

Real Estate News

Materials painted 6% commissions as the goal, plaintiffs’ attorneys argued, while witnesses defended it as just a number, and negotiable.

Training 264
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Unlock The Blueprint: How To Construct A Better Payment Workflow

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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Mortgage applications sink to 1995 levels as rates soar

Housing Wire

As the 30-year fixed mortgage rate increased for the sixth consecutive week to 7.70%, mortgage applications slumped, hitting their lowest level since 1995. Last Monday , in an attempt to calm the markets, a coalition of housing trade groups — including the Mortgage Bankers Association (MBA), National Association of Realtors (NAR) and National Association of Home Builders (NAHB) demanded that the Federal Reserve to provide clarity on the Fed’s rate path and its plans for the mortgage-backed secur

Mortgage 482

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Housing construction picked up in September, but developers are getting anxious

Housing Wire

Housing starts climbed to a seasonally adjusted annual rate of 1,358,000 in September, according to U.S. Department of Housing and Urban Development and U.S. Census Bureau data. It’s a 7% gain from the revised August estimate of 1,269,000 and 7.2% below the September 2022 rate of 1,463,000. However, permits for future construction recorded a 4.4% decline from August.

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Agent training, objection scripts on trial as Sitzer | Burnett ends Day 3

Inman

On Day 2 of witness testimony Wednesday, attorney Michael Ketchmark narrowed in on training materials and presentation slides he alleged violated antitrust policies held by the defendants.

Training 197
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Gary Keller, Bob Goldberg, Gino Blefari depositions on commissions shared with the jury

Housing Wire

The second day of the trial for the Sitzer/Burnett bombshell class action buyer broker commission class action lawsuit included plenty of insights into how the plaintiffs are approaching what is expected to be a battle royal. In his opening remarks addressing the jury and member of the public gathered in the Kansas City courtroom belonging to U.S. District Court Judge Stephen Bough, Michael Ketchmark, the lead attorney for the plaintiffs, called the suit a “refund case,” according to reports fro

Training 459
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Keep ’em separated. Why personal beliefs and Code of Ethics don’t mix

Inman

Trainer and marketing expert Rachael Hite shares why its important to create separation between your personal political and religious beliefs on your social media profiles in order to make sure that you are creating a neutral presences online to help all consumers feel comfortable working with you

Marketing 190
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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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Gordon: FHA is examining mortgage loan assumption rules, hoping for a new partial claim option

Housing Wire

The Federal Housing Administration (FHA) is working to offer a new partial claim option before the end of 2023, according to the federal housing commissioner at the U.S. Department of Housing and Urban Development (HUD), Julia Gordon. The commissioner also discussed the rise in mortgage loan assumptions. On May 31, the FHA submitted for public comment a proposal to create the Payment Supplement Partial Claim , which has the support of trade groups, servicers and industry experts.

Mortgage 459
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Mauricio Umansky ‘pasodobles’ his way to victory on Week 4 of ‘DWTS’

Inman

The Agency CEO was proclaimed "matadorable" by one of the "Dancing With the Stars" judges after showing off Mickey Mouse-style magical fingers while keeping a majestic frame to his routine.

Agents 183
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Rohit Chopra on new mortgage servicing rules, Basel III and the CFPB’s funding

Housing Wire

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra expects that servicing rulemaking will be issued in the coming months modeled on the lessons learned through the COVID-19 pandemic. “I do anticipate that in 2024 we will propose some amendments to the mortgage servicing rules that are reflective of what we learned through the pandemic,” Chopra said on Monday morning to an audience of mortgage professionals.

Mortgage 447
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Inman Intel Index: Real estate leaders brace for dizzying change

Inman

The inaugural Triple-I survey went out to the Inman community last month, and the results are here. Dig into 126 pages of deep, exclusive findings, only for Intel subscribers.

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BofA’s mortgage production declines 6% in Q3

Housing Wire

Top-20 U.S. mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital rules are applied to banks, according to BofA’s executives. On July 27, the Federal Reserve , Federal Depository Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released the proposed changes for the Basel III rule (

Mortgage 447
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Single-Family Starts Post Unexpected Gain in September as High Interest Rates Persist

Eyes on Housing

Despite elevated mortgage rates averaging above 7%, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the resale market. Overall housing starts increased 7% in September to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing.

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How much service are you getting from your software?

Inman

Tech CEO Sheila Reddy teaches you how to get the most out of your SaaS tech stack so that you can run your business more efficiently and effectively.

Business 179
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Is EBV© Real Modernization?

George Dell

Appraisal modernization has been touted in different ways. It depends on the touter. “Modernization” is a good word for marketing. But what is “modernization” selling? Is it selling modern technology? The partitioning of appraisal workflow (initiator, AMC manager-selector, data collector-researcher, inspector, analyst, reporter, reviewer, decisioner)?

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Chris LeBarton: How the Inman Intel Index changes the game

Inman

Inman Director of Research Chris LeBarton is tracking industry sentiment at a major inflection point. He shared what he's learned from results of the inaugural Intel survey — and what's to come.

Sellers 174
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Fannie Mae Filed a Complaint Against Me

Appraiserblogs

An appraiser shared the following with us which was posted on one of the appraisers’ groups. Fannie Mae filed a complaint against me with my state appraisal board. Here’s what happened. The Report In June of 2021, I completed an appraisal for a conventional purchase. The appraisal was ordered by an AMC on behalf of a lender. At that time, the real estate market was still being wildly affected by the COVID pandemic.

Appraisal 135
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Serving Gen Z and millennial homebuyers from click to close

Inman

According to new Inman contributor Mariel Pamintuan-Esguerra, understanding the needs of younger clients and how they correspond to features in your local market's housing stock will help you serve buyers more effectively.

Clients 174
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The Complete Guide to Eminent Domain

BiggerPockets

As a real estate investor, eminent domain is something you should know about. If you own property in an area that the government needs for a road expansion, fire station, railway, or something else that benefits the public, it may be legally taken from you, whether you want to sell or not.

Legal 94
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Mortgage applications hit 28-year low as bond selloff keeps rates up

Inman

Mortgage rates continued their relentless rise this week to levels not seen in two decades, fueled by a bear market for bonds that fund government borrowing and most home loans.

Mortgage 167
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Sneak Peek: A Look Inside David Greene’s New Book “Pillars of Wealth”

BiggerPockets

Pillars of Wealth by David Greene attempts to reel in the instant gratification mindset and reset the approach to real estate back to its original form: long-term investing for long-term wealth. Here's a sneak peak.

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Housing starts tally ‘unexpected’ uptick amid rising mortgage rates

Inman

New housing starts increased 7 percent in September to a seasonally adjusted rate of 1.36 million, or 7.2 percent below the levels seen in September 2022, according to Census data released Wednesday.

Mortgage 138
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You Can Save Thousands On Your Short-Term Rental Taxes By “Accelerating” Depreciation

BiggerPockets

There are plenty of ways to lower your tax bill, but STRs have a secret sauce that you can take advantage of. Here's what you need to know.

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Scotiabank to cut 3% of global workforce

Mortgagebroker News

The banking giant expects to take a sizeable hit on its Q4 earnings as a result

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Preferred Equity is One of the Best Ways To Earn Double-Digit Returns in This Economic Climate

BiggerPockets

Warren Buffett made the switch to this strategy in 2008 when the economy was falling apart. If you can get access to the same assets now, you're in for a great return.

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Refinances, early renewals remain prominent despite slower purchase activity

Mortgagebroker News

Borrowers contending with higher renewal rates remain keen to weigh up options

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From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills

BiggerPockets

Luke Carl’s real estate “gateway drug” took him from one home to three hundred rental units in record time—and it can do the same for you.

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Annual pace of housing starts rises in September

Mortgagebroker News

Urban and multi-unit urban starts posted strong growth

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[Video] Best Practices for Building Digital Forms

GoForrmz

Get started with GoFormz by building a customized digital form Template Whether you’re just starting to explore GoFormz in your free trial period or are looking to brush up on your digital form-building skills, this video recap is the perfect place to start. Join Alicia Bryan, Director of Customer Success, and Implementation Lead, Emily Switzer, as they walk you through every step of the process to build out a Template for your own digital forms.

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Furey announces plan to tackle Newfoundland and Labrador housing crisis

Mortgagebroker News

The plan will add 500 new housing options to the market