Mon.Oct 23, 2023

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Mortgage delinquencies ticked up in September: ICE

Housing Wire

While the mortgage delinquency rate remains low compared to pre-pandemic levels , the number of delinquent loans ticked up in September, according to the ICE Mortgage Monitor report. The national delinquency rate climbed to 3.29% in September, which is up 12 basis points from August and up 13 basis points from September 2022. This makes it the second and largest annual increase in the last 2.5 years, however, the delinquency rate remains 71 basis points below the pre-pandemic level of September

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Plaintiffs zero in on antitrust violations as they wrap their case

Real Estate News

A former NAR committee member called traditional compensation practices “the ultimate form of restraint of trade,” claiming that NAR looked the other way.

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Rents dropped again in September: Realtor.com

Housing Wire

While rent prices remain elevated compared to pre-pandemic levels, the median asking rent price fell $29 from the July 2022 peak, to $1,747, according to Realtor.com. “As rents ease and both home prices and mortgage rates continue to climb, it’s become more economical to rent than to buy in nearly all major markets,” Danielle Hale, chief economist at Realtor.com said in a statement.

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People on the Move: Livian, Real bring on seasoned execs

Real Estate News

Thad Fisher, former eXp, Anywhere and Zillow leader, joins KW's Livian platform; Christian Wallace named first chief of integrated home services at Real.

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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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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Commission lawsuit: HomeServices files motion for judgment as a matter of law

Housing Wire

KANSAS CITY, Missouri — The second week of the Sitzer/Burnett class-action buyer broker commission antitrust lawsuit kicked off with a bang. Just prior to the plaintiffs resting their case late Monday afternoon, HomeServices of America , one of the three remaining defendants in the commission lawsuit , filed a motion for judgment as a matter of law.

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Frank Martell talks loanDepot’s restructuring, path to profitability and M&As 

Housing Wire

CEDAR CREEK, Texas — loanDepot is “fully committed” to return to profitability and “aggressively manage the cost structure” while investing in “automation and process improvement,” CEO Frank Martell said in an exclusive sit-down interview during HousingWire Annual earlier this month. “We want to be in a leadership position coming out of this cycle, which I don’t measure simply in terms of volume and size,” Martell said. “We’re sti

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How to ensure the best outcomes for clients buying property overseas

Inman

For the past three years, luxury buyers have been on the move. Increased opportunities to work remotely — and, by extension, live remotely — have enabled them to embrace new lifestyles or seek a higher quality of life, whether that means exploring regions and markets with better weather, lower costs, or a more relaxed pace.

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Thinking of selling your real estate brokerage? Here’s how to prepare

Housing Wire

Over the course of our 40+ years at RealTrends Consulting we’ve brokered and/or advised on over 900 transactions in the residential real estate industry. We usually represent the sell side of the deal and work with firms that range in size from small, one-office, 10-agent shops to the largest in the nation. We’ve learned a few things along the way, and if you’re thinking about selling your real estate brokerage firm, whether next month or five years from now, one of our biggest pieces of advice

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Project to tackle appraisal bias continues with Nov. 1 hearing

Inman

The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for a hearing on tackling appraisal bias.

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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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Sitzer plaintiffs expected to rest their case today

Housing Wire

The first week of the much-anticipated Sitzer/Burn e tt class action buyer broker commission antitrust lawsuit concluded with the testimony of economic and legal experts. On Friday, Craig Schulman, an associate professor of economics at Texas A&M, took the stand again to be cross-examined by Ethan Glass, the defense attorney for the National Association of Realtors , according to reports from Inman News.

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Get into a ‘New York State of Mind’ with the home Billy Joel wrote it in

Inman

The house that once helped Joel complete his famous ode to the Empire State has hit the Upstate New York housing market for $2.5 million. In recent years, the property served as a bed-and-breakfast.

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Kara Lamphere joins Click n’ Close as new chief operating officer

Housing Wire

Click n’ Close , a mortgage lender mostly active in the wholesale and correspondent channels, appointed Kara Lamphere to the role of chief operating officer (COO). “Kara is a powerhouse, and we are thrilled to have her back as part of our executive team to help guide our continued growth and success,” Click n’ Close Owner and CEO Jeff Bode said in a statement.

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Keyes Company, BHR strike chord on deal for data

Inman

Keyes agents will benefit from BHR’s nuanced data reports filtered by an artificial intelligence interface called Aiden, designed to give agents a competitive experience with at-the-ready tools for translating current market performance and emerging trends into buying and selling decisions.

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Housing Demand Caught Between High Rates & Demographics

Eyes on Housing

Despite mortgage rates topping 7%, Americans persist in their desire to buy a home. According to the latest Housing Trends Report*, the share of adults with plans to purchase a home within a year edged up to 17% in the third quarter of 2023, up from 15% a quarter earlier. The share has fluctuated up and down without a clear.

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New consumer app, agent financial health focus of Real conference

Inman

On the first morning of its annual conference held in San Diego, technology-driven real estate brokerage Real unveiled a new consumer-facing app with the promise of bettering the way homes change hands.

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2023 Halloween Scary House Tour! South Tinley, Mokena & Frankfort

Advanced Appraisal

Single Family home appraisals, house appraisals, 2-4 Units, Condos, Located in the Tinley Park, Mokena and Frankfort Area. We are also experts in Multi Family Apartment Buildings, Mixed Use, Small Commercial properties and Vacant land for all purposes. We offer private listing, Assessment Appeal, Bankruptcy, Divorce, Estate, Trust, partnership dispersion, Probate, and Indemnity Cases.

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On-call marketing? It’s the new normal at Coldwell Banker Realty

Inman

Time, the most precious commodity in a real estate agent's arsenal, has just received a major upgrade for agents affiliated with Coldwell Banker Realty.

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Majority of Reviewers Had Very Limited Field Experience

Appraiserblogs

It was my experience that the majority of reviewers, FNMA included, had very limited field experience. Which is painfully obvious when they request baseless revisions for “more or better comps”. I’m a Certified General Appraiser that started appraising in 1984, almost 40 years ago! Spent the majority of my career appraising both residential and commercial properties in a major metropolitan market.

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Insider secrets to survive the shift to today’s skills-based market

Inman

Coach Verl Workman joins Bernice Ross to talk all things teams, growth and the demands of the current real estate market.

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AI Will Transform Multifamily Real Estate—Here’s How

BiggerPockets

New AI tools are coming out every week. Real estate is chief among industries set to benefit. Here's how this sector will be transformed.

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‘Rabbit gets the gun’: The essential guide to Week 1 of Sitzer | Burnett

Inman

Big names, heated exchanges and the emergence of homeseller plaintiffs on the stand dominated the first week of the Sitzer | Burnett commission trial in Kansas City, Missouri.

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Understanding Deeds: A Comprehensive Guide

BiggerPockets

Understanding how deeds work is vitally important for every real estate investor. There are several different kinds of deeds, and the type you get when you buy a property may affect whether you have recourse if there are any future claims. A clause in the deed may also limit what you can do with your property or require you to allow other property owners to cross your property to access theirs.

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9 tips for maintaining a healthy relationship with your phone

Inman

Broker Pam Blair knows that you need your phone to keep in touch with clients and colleagues, but writes that setting appropriate and healthy boundaries around screen time can help to ensure better mental and emotional health.

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Real Estate Isn’t Enough—Here’s How Three Pro Investors Diversify Their Portfolios

BiggerPockets

As the saying goes, don't put all of your eggs into one basket. We interviewed three pro real estate investors and asked how they diversify their portfolios. Here's what they said.

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How global events jeopardize fair housing (and what you can do)

Inman

Dr. Lee Davenport draws on both historical context and current events to describe how the latest news can impact the application of fair housing laws and policies.

Law 183
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Existing Home Sales Fell 2% in September According to Latest Data From NAR

BiggerPockets

Home sales have been declining month-over-month throughout the year, but this region is moving in the opposite direction. Here's what you need to know.

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Renters rejoice! Rental rates fell for 5th straight month in September

Inman

Rents for studio, one-bedroom and two-bedroom units fell 0.7 percent between August and September, according to data from Realtor.com.

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BiggerNews: How Hosts Are Making More Money Even As Airbnb Demand Drops

BiggerPockets

Earlier this year, many Airbnb hosts expected the short-term rental market to fall off a cliff.

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Speed up new build purchases with a cash offer from Offerpad

Inman

Today’s housing market is unlike any in decades. While existing home sales are increasingly in the news, new construction is proving to be an attractive and increasingly important segment for agents.

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Conservative leader Poilievre urges feds to veto RBC-HSBC merger

Mortgagebroker News

Poilievre says Canadian banks need to compete for, and not buy, customers

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NYC’s rep falters amid lower economic, real estate prospects

Inman

The Big Apple ranks behind 18 other cities, including Boston, Seattle, and Boise, Idaho, when it comes to factors such as post-COVID urban recovery, commercial real estate, mass transit, crime, outmigration, and work-from-home trends, according to Michael Cemblast, chairman of market and investment strategy at JPMorgan.

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How can mortgage brokers flourish in a down market?

Mortgagebroker News

Leading mortgage pros discuss strategies for success in challenging times