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While home prices in the U.S. held up in 2023, sales volume in the housing market cratered. Consumers care about home prices and mortgage rates; the industry cares about transaction volume. The industry is in a deep housing recession this year. If we get lucky with mortgage rates, though, we might just be at the bottom of the housing market recession right now.
In the Q3 earnings call, Robert Reffkin said Sitzer/Burnett probably won't lower commission splits, highlighted the company's strength despite continued losses.
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Patricia “Patti” Cook , who broke the glass ceiling in the mortgage industry during a successful 45-year career , died on Friday at her home in New York. She was 70 years old. Cook retired as CEO of Finance of America in June 2022 to focus on her health. She is survived by her three daughters, Kathleen Cook Suozzi, Colleen Cook Flannery, Annie Cook Carroll and her six grandchildren, as well as her sisters Laurie Bonello and Marybeth Solazzo. “Patti was not only a remarkable lea
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Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
A majority of new homes that completed construction in 2022 included two-car garages (66%), according to NAHB analysis of 2022 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions.
In physics, critical mass is a nuclear term. It’s the minimum amount of a given material that you need to set off a self-sustaining chain reaction. While that may be a good thing in nuclear physics — where you typically want to start chain reactions — you don’t usually want to see the same sort of reaction in a business setting.
In the world of homebuying, we often find ourselves discussing the vital role of mortgage professionals. You've likely encountered two key players in this field: mortgage bankers and mortgage brokers.
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It's an oft-repeated adage that real estate is cyclical. Well, figures recently released by the National Association of Realtors (NAR) put the industry back in 2010. That's because existing home sales have dropped over 15 percent year-over-year.
Agents and teams at Century 21, Sotheby’s International Realty and Coldwell Banker, among others, will have access to RealScout as part of an enterprise-level agreement between the tech company and Anywhere.
How GoFormz can ease the retail rush for seasonal shopping It’s officially November, and that means the holiday season is here! This year, Black Friday falls on November 24, and Cyber Monday on November 27. With only days left, retailers are preparing their staff and inventory for the major rush. Aside from extra staffing and inventory, there are additional steps retailers can take to be successful this holiday season.
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Rental application fraud is a persistent hazard of leasing and continues to challenge property agents everywhere. TransUnion commissioned a survey of single-family and multifamily property managers that showed a whopping 97 percent of respondents had experienced application fraud.
At 32, the RealiFi Realty co-founder and CEO is the youngest president in the organization's history. Tian is a broker-owner in LA and was selected as a NAR '30 under 30' honoree in 2017.
Confidence in the size of your home is a fundamental aspect of real estate, but have you ever wondered why the reported square footage can differ from one source to another? In this article, we will delve into the reasons behind these discrepancies and underscore the significance of precise measurements in the real estate world. When you bought your house, someone, whether it was a real estate agent, a builder, or a published source, provided you with an estimate of its size.
Access to safe, traditional credit building is especially limited in Black neighborhoods, a report from Zillow shows, highlighting lingering effects from redlining that keep those households renting instead of owning a home.
Real estate markets across the country are normalizing, but the industry is still incredibly profitable for new and experienced property investors. Texas continues to represent one of the strongest markets, home to two of the top ten cities for real estate: Dallas/Fort Worth and Austin. By searching in and around these two markets, investors can find plenty of properties, from single-family residences that can be renovated and sold to raw land that may be on the development fast track in just a
Employees at the U.S. Department of Housing and Urban Development (HUD) feel safer, more valued and empowered in their roles at the department. This is according to the 2023 Federal Employee Viewpoint Survey (FEVS) that tracks the sentiment of federal employees across the government. “The FEVS, which is the largest annual employer survey in the country, tracks how federal employees view their current work environment, including workforce management, policies, and new initiatives,” HUD said in an
The brokerage saw revenue fall 10 percent year over year, but also managed to cut net losses from $154 million in the third quarter of last year to $39 million this time around, according to a Q3 earnings call Monday.
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