Fri.Sep 22, 2023

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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. Pending-home sales fell 13% from a year ago for the four weeks ending Sept. 17, according to a new report from Redfin. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. This is pushing many prospective homebuyers to the sidelines until the market becomes healthier.

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Industry Decoded: It's a buy-low market

Real Estate News

Companies are built in down markets, and savvy business leaders should take advantage of deals on tech, services and more — right now.

Marketing 246
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Fannie Mae’s chief economist on housing market outlook

Housing Wire

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts.

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MV Realty files for bankruptcy amid legal turmoil

Real Estate News

The brokerage, which offered homeowners cash in exchange for a 40-year right-to-list agreement, has been bogged down by lawsuits and investigations.

Legal 242
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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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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With homegenius Real Estate’s solutions, lenders can help homeowners explore their home equity options

Housing Wire

Borrowers everywhere are seeking new ways to tap into their home equity. But with rising mortgage costs and high interest rates , refinancing doesn’t always make the most sense. That’s where HELOCs come in for many homeowners. HELOCs allow homeowners to borrow smaller amounts when they need it, helping to keep monthly payments lower and helping avoid unnecessary debt.

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Lamacchia Realty acquires New England-based brokerage Keystone Property Group

Housing Wire

Lamacchia Realty , a full-service real estate brokerage firm licensed in six states, acquired the Seekonk, Massachusetts-based brokerage, Keystone Property Group , the company announced on Monday. Licensed in Massachusetts and Rhode Island, the Keystone Property Group, which counts 52 real estate agents , recorded over $100 million for the past several years, the report said.

Realty 435
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9 fall-friendly social media ideas to spice up your marketing

Inman

Coach and author Darryl Davis shows you how to get more engagement and create conversations with this autumnal social media marketing plan that's ideal for the season.

Marketing 199
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Opinion: If change was easy, everyone would do it

Housing Wire

I don’t think many people would disagree that 2023 has been a year full of challenging landscapes and uneasy terrain for many real estate brokerages. Many brokers and agents expected the summer housing market to help save the year. But for a lot of local markets, that summer sun didn’t shine so brightly. As we approach fall and winter, some companies are having to make some hard choices and painful changes – that is, of course, the companies that are still in business.

Brokerage 434
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CoreLogic mobile MLS-Touch app available to 1M real estate agents

Inman

MLS-Touch provides connections to four home showing solutions driven by the data of each MLS in which it's active. It can be deployed by MLSs that don't use Matrix, CoreLogic’s listing solution.

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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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Bringing the real estate transaction to the end zone

Housing Wire

Terrence Murphy From the end zone to luxury open houses, Terrence Murphy is proof that an entrepreneurial spirit is the key to success in nearly everything. Murphy is not only a legendary football player, he is also a top-producing real estate agent, investor and broker-owner. He leads TM5 Properties , powered by eXp Realty, which has won the Inc. 5000 several times.

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Age of Aquarius is here as astrology boom hits the real estate industry

Inman

As younger homebuyers revive an age-old fascination with astrology in the aftermath of the pandemic, agents, designers and astrologers told Inman the stars are aligned for a resurgence.

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NAR staffers demand resignation of Bob Goldberg, other leaders

Housing Wire

The National Association of Realtors continues to face demands for change from staffers and members in the wake of the sexual harassment allegations brought forth in the New York Times exposé. On Thursday, the trade group informed members that it was bringing in a third-party human resources reporting system and a third-party independent law firm to conduct a review of the organization.

Law 432
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How this social media innovator leads with authenticity

Inman

Chastin Miles is a Dallas real estate mogul and social media force to be reckoned with. In his latest Snapshot profile, Brandon Doyle learns Miles' best tips for putting yourself out there online.

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Christie’s will launch a new luxury Austin brokerage this Fall

Housing Wire

Christie’s International Real Estate is poised to enter the Austin market this fall as it launches a new affiliate. The brokerage firm will be owned and operated by Jerry Mooty Jr., with backing from the Jerry Jones family, owners of the Dallas Cowboys Football Club. Mooty, who owns @properties Christie’s International Real Estate offices in Dallas and Frisco, is also Jones’ nephew.

Brokerage 430
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Stop the bombshell lawsuit panic. Ask your broker about commission

Inman

You don't have to figure out everything on your own when it comes to buyer commissions and the bombshell lawsuits, writes broker Teresa Boardman. It's the job of the broker to help individual agents understand and negotiate the terms of their compensation.

Buyers 193
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Market Share for Modular and Other Non-Site Built Housing in 2022

Eyes on Housing

The total market share of non-site built single-family homes (modular and panelized) was just 2% of single-family homes in 2022, according to completion data from the Census Bureau Survey of Construction data and NAHB analysis. This share has been steadily declining since the early-2000s despite the high-level of interest for non-site built construction.

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Local broker marketplaces: Insights from a Romanian Realtor

Inman

U.S. local broker marketplaces are the gold standard and will continue to push Romania in the right direction so we can create an equitable real estate market that protects consumers and small businesses across the country, writes Romanian Realtor Dan Negulescu.

Realtors 190
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Employment Situation in August: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 33 states and the District of Columbia in August compared to the previous month, while 17 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 187,000 in August, following a gain of 157,000 jobs in July. On a month-over-month basis, employment data was strong in California, which.

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CrossCountry Mortgage CEO nails profit on $30M Fort Lauderdale pad

Inman

Ronald Leonhardt Jr. purchased the Harbor Beach home for $23 million in 2021. It includes 120 feet of water frontage, a lap pool, a full summer kitchen and docking capabilities for a megayacht.

Mortgage 190
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Mortgage Application Volume Nearing Historic Low

Appraiserblogs

Appraisers, I’m almost reluctant to distribute this essay, but the reality is what it is. Per the Mortgage Bankers Association (MBA), the loan application volume is at another low point in our history. The article in Mortgage News Daily titled “Mortgage Application Volume at Lowest Levels Since 1996” in this link provides context. For a related perspective, the article contains a graph, which can be expanded to show mortgage rates and application volume for decades.

Mortgage 112
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New Western trends report has all the answers for savvy investors

Inman

New Western’s latest Flip-Side report has good news for the single-family investor. Real estate expert and trainer Bernice Ross interviews Kurt Carlton, the president and co-founder of New Western, to get all of the valuable insights the report has to offer.

Investors 190
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Zillow Predicts a 4.9% Rise in Home Prices by Next August—Is That Possible?

BiggerPockets

Zillow is really bullish on housing, but are they right? How much are they projecting prices to grow? And who's in disagreement?

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Corva does a lot of what you already do — but the bones are good: Tech Review

Inman

Corva offers quite a bit for the agent who has had early success and wants to more fully streamline how they operate. It’s a good system for knowing what’s happening when and what should happen next.

Agents 190
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Beach Houses vs. Lake Houses: Which Properties Provide Better STR Cash Flow?

BiggerPockets

Waterfront properties come with a premium and produce rock-solid cash flow, but what's the ultimate winner? Beach houses or lake houses?

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Josh Flagg and partners form media company Estate Media

Inman

The real estate media company will aim for coverage that bridges the gap between hard industry-focused outlets and the swath of popular reality TV programs that have hit the industry in recent years.

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What Is a Jumbo Loan: Everything Investors Need To Know

BiggerPockets

Is a jumbo loan a good option for real estate investors? We'll explain what is a jumbo loan and provide some pros and cons for this financing option.

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Bombshell, mutiny, mild recession: Catch up with Inman’s Top 5

Inman

With Inman Top 5, you'll find the most essential stories, chosen by our readers. Here are the most-read stores of Sept. 15-21, 2023.

Agents 187
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Now That Grant Cardone is Getting Sued, Here’s How You Can Avoid Walking Into Syndication Other Traps

BiggerPockets

With the latest Grant Cardone lawsuit, it's become more important than ever to vet the syndications you're signing up for. Here's what you need to do.

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Learn why this interior designer’s inspiration is written in the stars

Inman

What if you could fast-forward to an overall sense of your client's priorities and preferences? According to Brooklyn-based interior designer Kerry Barile, astrology allows you to do just that.

Design 183
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How to Buy Your FIRST Rental by The End of THIS Year (Step-by-Step Plan)

BiggerPockets

If you listen to this episode, you’ll be able to buy a rental property in the next ninety days.

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As RE/MAX settles, it’s time to re-think buyer-side chats

Inman

This week on The Download: How are you adding value to your buyer-side UVP now that RE/MAX has folded on its part of the bombshell commission lawsuits?

Buyers 150
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The Three Buckets: A Practical Approach to Investing for All Phases of Life

BiggerPockets

Where you are in life makes a big impact on how you invest. Here are the three buckets of investing according to the phase of life you're in.