Fri.Mar 08, 2024

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Mortgage rates fall as labor market normalizes

Housing Wire

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Instead, the 10-year yield had a muted response after the headline number beat estimates, but we have negative job revisions from previous months. The Federal Reserve ’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%.

Marketing 511
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Steve Harney, an educator, entrepreneur and advocate, has died

Real Estate News

Harney, a top agent, broker/owner and founder of Keeping Current Matters, is fondly remembered as “one of the kindest and most passionate men” in the industry.

Agents 305
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More homeowners feel like it’s the right time to sell: Fannie Mae

Housing Wire

Consumer sentiment toward housing inched higher for a third consecutive month as respondents feel increasingly optimistic about home selling conditions. Fannie Mae ’s Home Purchase Sentiment Index ( HPSI ), which tracks the U.S. housing market and consumer confidence to buy or sell a home, rose 2.1 points in February to 72.8. The full index is up 14.8 points from one year ago.

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The new prime time for sellers? It’s no longer May

Real Estate News

A report from Zillow found that summer can be the most lucrative time to list, but low inventory means rate fluctuations can “make their own seasonality.

Sellers 290
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‘There will be bank failures,’ Fed chief tells lawmakers

Housing Wire

In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios. According to reporting by multiple outlets, including The Hill , Powell indicated that the risk is tied to small and midsized banks, and there is no systemic risk to the banking sector posed by the potential collapse of major institutions.

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People on the Move at Christie's SoCal powerhouse and Relevate

Real Estate News

Jamie Duran takes on EVP role at AKG Christie's after three decades at Coldwell Banker; Sheila Dodson to lead consulting, industry relations at Relevate.

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Sitzer | Burnett plaintiffs’ attorneys ask for a third of settlement payout

Inman

After five years and nearly 100,000 hours of work, the law firms are asking a federal court for $82 million of the proposed settlements to be paid by Anywhere, Keller Williams and RE/MAX.

Law 195
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Strong jobs report suggests rate cuts won’t come ‘til summer

Housing Wire

Though all signs point to a cooling labor market overall, the economy picked up another 275,000 jobs in February. The jobs report on Friday is unlikely to convince the Fed that rate cuts are necessary when the Federal Open Markets Committee meets later this month, economists said. Jobs increased by 275,000 in February, up from a revised rate of 229,000 in January , according to data released by the Bureau of Labor Statistics on Friday.

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4 ways to ensure success as an agent in 2024 and beyond

Inman

Watch Shaun Osher on Inman Access as he shares his yearly success strategies, offering valuable insights and actionable advice to empower you to strive for success this year.

Agents 185
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“It seems impossible:” Bergen County, NJ’s housing market is vexing agents and buyers

Housing Wire

Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At the height of the pandemic there were bidding wars and all that, but it didn’t seem impossible, but now it seems impossible to get our buyers into homes,” said Heather Corrigan , a RE/MAX Signature Homes agent based in Closter, a boroug

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Steve Harney, legendary Keeping Current Matters founder, dies at 68

Inman

Harney founded Keeping Current Matters in 2007 to help agents and homeowners prepare to navigate the coming financial crisis.

Agents 183
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Expert says women face unique retirement challenges: CNBC

Housing Wire

Women face a series of challenges that add up to make retirement prospects “pretty bleak,” including issues such as gender pay inequality, longer life spans and a lack of savings based on U.S. Census Bureau data. But Cindy Hounsell, founder and president of the Women’s Institute for a Secure Retirement , said during an event hosted by CNBC that there are ways to adequately prepare.

Clients 468
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15 Instagram accounts agents can learn from in 2024

Inman

Jimmy Burgess shares 15 agents, team leaders and trainers who can help you find the perfect mix of content to grow your Instagram channel.

Agents 183
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“Greetings from Missouri!” Millions are finding commission lawsuit postcards in the mail. Agents say it’s an opportunity

Housing Wire

It was mid-February when clients, family and friends began asking Jason Posnick about strange postcards appearing in their mailboxes. Thanks to Lisa Chinatti, the broker-owner at Chinatti Realty Group , he was not completely caught off guard. “Lisa is super on the pulse. She talks with a lot of people, and she announced to our company that this was coming and went through what exactly we should expect,” said Posnick, the sales manager at Chinatti Realty Group.

Agents 459
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HomeStack is a mobile solution for today’s agent: Tech Review

Inman

Inman's review of HomeStack, a custom mobile app solution for independent real estate brokerages, top-producing teams and tech-savvy agents.

Agents 181
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Title waiver pilot program will have little impact on the industry: Fitch Ratings

Housing Wire

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. In an emailed statement, Fitch Ratings attributed this to the relatively narrow scope of the proposal.

Insurance 459
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Redfin is beta testing its new AI search assistant Ask Redfin

Inman

Ask Redfin, an artificial intelligence assistant for homeshoppers, is now in beta testing on the company’s mobile iOS search experience.

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Why Hometap is betting on the growth of the home equity investment market

Housing Wire

Based on the notion that far too many U.S. homeowners are “house-rich, cash-poor,” home equity investment firm Hometap provides clients with a way to tap into their home equity instead of selling their home or taking out a loan. Hometap, as an investor, provides cash in exchange for a share of their home’s future value. When the home sells or the homeowner settles the investment within the 10-year period.

Investing 458
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Are you ready to make your brand POP this spring? The Download

Inman

As Inman announces its Marketing All-Stars, it's time to dive deep into all the marketing expertise you'll need to shine bright this spring.

Marketing 173
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New Orleans litigator files commission lawsuit against Latter & Blum

Housing Wire

In a lawsuit filed on Tuesday in U.S. District Court in New Orleans, home seller plaintiff Joseph C. Peiffer, a prominent lawyer in the Big Easy, accuses local brokerage firm Latter & Blum of colluding to artificially inflate agent commissions. The lawsuit names the National Association of Realtors and Keller Williams as co-conspirators, but they are not defendants in the suit.

Brokerage 448
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Lawsuits and leads: Here’s Inman’s Top 5 stories of the week

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 171
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Opinion: Real estate brokers, you don’t need leaders who are your clones

Housing Wire

The journey to becoming a great leader often hinges on one fundamental principle – helping others discover and embrace their true selves. As real estate leaders, our role is not to replicate ourselves in those we lead, but rather to guide them towards understanding who they are. This journey towards identity goes beyond creating copies of good leaders, and delves more into the realm of nurturing individuality.

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HomeStack, LiveEasy partner to advance white-labeled solutions

Inman

HomeStack and LiveEasy offer white-labeled applications for real estate agents, vendors and consumers and provide a range of communication functions, home insights and market data. The two have announced a partnership.

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Ex-Summit executive: I was fired after blowing the whistle on illegal recruiting methods

Housing Wire

A former top executive at Summit Funding has sued the lender, claiming he was wrongfully terminated after confronting the company’s leadership about allegedly illegal business practices involving its founder and president, Todd Scrima. Ex-chief growth officer Brian Mitchell accuses Summit and Scrima of gaining illegal access to confidential information from its competitor Movement Mortgage to poach their employees and take their businesses, according to the lawsuit filed on Feb. 7 in the Superio

Legal 447
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Matt Beall: Hawaii’s market is ‘extraordinarily strained’

Inman

The Hawaii Life CEO said after pandemic demand and the Maui fires, inventory has been sparse. But he also said the market is finding its way back to seasonality, and philanthropic giving and community involvement are at a high.

Marketing 163
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5 tips to upgrade your real estate networking game

Housing Wire

Success in the real estate industry hinges not just on what you know, but who you know. The foundation of this sector is built on trust and relationships. So, networking is about more than just transactions — it’s a crucial practice for building connections that nurture growth and unveil new possibilities. For real estate professionals , turning networking into a regular practice is key to long-term success.

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TikTok says men think about Rome. Women’s #RomanEmpire? Safety

Inman

Women have to think about their safety on the daily, trainer Rachael Hite writes. They don't have time for Julius Caesar and the lore of Rome.

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Every Major U.S. City Where It’s More Expensive to Rent Than Buy

BiggerPockets

Due to higher mortgage rates and elevated prices that have remained near their peaks for the last two years, investors have had to pay closer attention to how much they can cash flow. We crunched the data ourselves and only found a select few markets that have lower prices of ownership than rent, which indicates strong cash flow potential.

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Empowering through empathy: The women’s leadership advantage

Inman

By embracing and amplifying female voices, The Agency's Rainy Hake Austin writes, we can create a real estate industry that truly reflects the diversity and richness of the communities we serve.

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From $0 to $40 Million: How a 10-Year Old Orphan Became a Successful Investor

BiggerPockets

John Mansor was left a ward of the state at 10 years old. For 15 years, he climbed the ladder to success, all through real estate. Here's his inspiring story, which is proof that it doesn't matter where you come from—as long as you have the mindset to do what needs to be done.

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Talking money is ‘a form of protest,’ financial expert Tori Dunlap says

Inman

With 1.9 million Instagram followers and a best-selling book, financial expert Tori Dunlap sits down with Rachael Hite to share how she’s educating women on talking about money — out loud.

Finance 141
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Is Puerto Rico America’s Best Investing Destination? Here’s What You Need to Know

BiggerPockets

With markets across the country cash flow-strapped and unaffordable, where do you turn? We've mentioned Europe, but there's a closer destination that's worth a look too.

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How to amplify authenticity in today’s tech-driven world

Inman

Watch the latest Inman Access class with social media expert, Giselle Ugarte, to learn how to elevate your connections with clients.

Clients 123
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Remove all bathtubs from home?

Appraisal Today

Is it a problem to remove all bathtubs in a house? By Ryan Lundquist Excerpts: I’ve been asked this question twice this week. Is it a problem to remove the tubs from each bathroom? People planning a remodel asked if it was a big deal or not to only have a walk-in shower in each bathroom. Here are my thoughts, and I really want to hear from you too. Anything to add?