Sat.Oct 07, 2023 - Fri.Oct 13, 2023

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Consumers point to mortgage rates, not home prices, as key barrier to affordability 

Housing Wire

Elevated mortgage rates continue to dampen already-pessimistic consumer housing sentiment and create affordability woes for both homebuyers and sellers. That feeling is underscored in Fannie Mae ’s latest Home Price Sentiment Index (HPSI), which decreased by 2.4 points in September to 64.5. The index tracks the housing market and consumer confidence to sell or buy a home.

Mortgage 499
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Are we finally starting to see more listings?

Sacramento Appraisal Blog

Are we finally starting to see more listings? Yes and no. Today I want to talk about a change we’re seeing with listings both nationally and locally. This is a really important topic, and some of it feels a bit technical because it’s about understanding new listings vs active listings. Anyway, let’s be on the […] The post Are we finally starting to see more listings?

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Bay Area real estate veteran Rick Geha has died

Real Estate News

A respected team leader and speaker, Geha worked with giants Gino Blefari, Gary Keller and Glenn Sanford during his four-decade career.

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Why high-net-worth individuals are purchasing secondary homes

Inman

Owning multiple properties is relatively common with ultra-high-net-worth individuals. Agents should be well-versed in helping them identify and acquire secondary homes that fulfill their needs and goals.

Agents 209
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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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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CrossCountry in talks to acquire Fairway: sources

Housing Wire

Two top-20 mortgage lenders in the United States may combine forces amid the most challenging market in decades. CrossCountry Mortgage is in talks to acquire Fairway Independent Mortgage Corp. , nine industry sources told HousingWire. The talks remain ongoing and are not believed to be in the late stages, sources said. If the deal is completed, it will catapult CrossCountry to becoming the fourth-largest mortgage lender in the country, behind United Wholesale Mortgage (UWM), Pennymac Financial a

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3 ways the pandemic shaped the housing market

Real Estate News

Government policies and the rise of remote work contributed to declining affordability, but real estate agents have an opportunity to show their value.

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Housing groups urge Federal Reserve to stop hiking rates

Inman

MBA, NAR and NAHB say uncertainty over the Federal Reserve's next moves is disrupting the housing sector and threatening to send the U.S.

Realtors 201
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5 steps to succeed as a real estate agent in a down market 

Housing Wire

It’s a weird time to be a real estate agent , and I see it all around me here in the Denver metro. Brokers who rode the proverbial wave of real estate during the pandemic and have now had to reroute or pivot to figure out how to navigate a market that was once boasting the lowest rates in decades are disoriented. For those of us who have spent most of our careers in real estate, we know what it’s like to be part of a feast or famine industry.

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NOW YOU KNOW: WORK WHEN IT’S SLOW

The Appraiser Coach

How did you become an appraiser? Maybe you just stumbled upon it. Maybe it was your dream career ever since you knew what appraising was. No matter how you got there, at some point you said, yes this is for me. You decided, this is what I want to do for the rest of my life. What was your why behind that moment? Many people who decide to run their own small business do it in large part because of the flexibility that comes from creating their own schedule and running on their own time.

Business 195
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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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NAR doubles down on commission practices ahead of trial

Real Estate News

An attorney for the organization said a loss would be “bad news for consumers” and force the industry “back into the 19th century.

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Real adds 56 real estate ‘Legends’ in Northern California

Inman

Real Brokerage has added 56 agents through the acquisition of Legends Real Estate in Sacramento led by John Pope, a 45-year veteran of the industry.

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Introducing the 2023 HW Vanguards

Housing Wire

In its 9th year, the HousingWire Vanguards award offers a definitive list of the top leaders in housing who are shaping the housing economy for the better. The forward-thinkers and trailblazers who are shaping the industry through their unwavering commitment, transformative ideas and steadfast dedication to driving growth and positive change. This year, 100 honorees were selected for their outstanding leadership in the midst of market volatility.

Realty 482
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Remodeling Market Sentiment Declines in Third Quarter of 2023

Eyes on Housing

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2023 posted a reading of 65, edging down 3 points from the previous quarter. While there is still demand for remodeling, some customers are pulling back on potential projects due to higher prices and increased interest rates. Even though remodeling spending has experienced some slow down over the.

Marketing 180
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Mortgage rates now three times higher than in 2021

Real Estate News

Economic signals appear to be keeping rates elevated as they climb for a fifth straight week.

Mortgage 255
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Real humans are better than artificial intelligence

Inman

Although technology has its place, it simply can't compare with the human touch when it comes to marketing and running a real estate business. Broker Teresa Boardman differentiates the skills AI is good at from those that you can do better.

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Top 5 home improvement projects real estate agents should recommend to sellers

Housing Wire

We’ve all witnessed the housing market slowdown that has occurred over the last year. Across the country, homes are spending more days on the market as interest rates rise. Many sellers have returned to offering concessions and dropping prices to entice buyers. Additionally, competition for listings is on the rise as fewer homeowners are looking to sell.

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Characteristics of Recent Home Buyers

Eyes on Housing

In a new study, NAHB uses the 2021 American Housing Survey (AHS) to investigate the characteristics of recent home buyers, defined as households who purchased homes in the two years preceding the date the 2021 AHS was conducted. According to this criterion, roughly 10.2 million households recently bought and moved to a new home. The study focuses on two important.

Buyers 165
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Mortgage exec: Lower rates, ‘big refi move’ coming in 1-2 years

Real Estate News

Greg Schwartz, CEO of online lender Tomo and former head of Zillow’s Premier Agent business, sees some relief ahead for consumers — and a reckoning for agents.

Agents 253
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How to turn your Google Business Profile into a lead gen machine

Inman

If you want to raise your profile on the world's most prominent digital platform, a Google Business Profile is the way to go. Jimmy Burgess offers the secrets to optimizing your online presence with this underutilized marketing tool.

Business 197
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Fannie Mae’s chief economist: ‘We don’t expect spreads to come down anytime soon’

Housing Wire

When mortgage rates blew past the 7% level earlier this year, the securitization market “froze up temporarily,” according to Doug Duncan , senior vice president and chief economist at the government-sponsored enterprise Fannie Mae. “Investors who would buy a mortgage-backed security [MBS] , which is backed by mortgages that have a 7% coupon, believe that when the Fed eases interest rates, the people with those 7% mortgages will refi,” Duncan said on Friday during the

Investors 473
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Mortgage Activity Increases Despite Rise in Interest Rates

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending October 6th, total mortgage activity increased 0.6% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose 14 basis points to 7.67%. The FRM rate has increased 40 basis points over the past month to its highest level since 2000. The Market Composite Index, a measure.

Mortgage 164
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Homebuyers get creative as market sentiment sours

Real Estate News

Most consumers say it’s a bad time to buy, but for the determined, family members can help them overcome affordability hurdles.

Marketing 243
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Listings tick up and prices tick down during an ice-cold fall market

Inman

The added punch of mortgage rates nearing 8 percent is making this year's fall selling season particularly slow.

Marketing 194
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Inventory growth slows even with higher rates

Housing Wire

Mortgage rates were scarier than Freddy Krueger last week, rising to a 23-year high as some of the labor data surprised to the upside. Unfortunately, those higher mortgage rates didn’t spur inventory growth this week, so we didn’t even get the benefit we would usually see when rates rise. And higher mortgage rates pushed purchase application data down 6% week to week.

Inventory 468
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ProTip: Upload Large Image Files

GoForrmz

Originally published on 07/24/2017 Did you know there are two ways to capture image files in your digital form? GoFormz is proud to offer an array of features and functionality that allow users to strengthen their data collection, streamline processes, and enhance collaboration and communication. As users continue to enrich their data collection with new data types like imagery, there are a couple of ways GoFormz allows users to capture this information in an efficient manner: through the Image

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Mixed perspectives on NAR following Redfin’s exit

Real Estate News

Zillow, Windermere affirm their commitment to the association, while a top brokerage leader calls out “dysfunctionality” and a disconnect from member needs.

Brokerage 242
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Lesson Learned: Work hard and give back

Inman

Find out how this veteran of the fashion industry turned her knowledge of high-end retail to the business of luxury real estate.

Retail 193
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HousingWire Annual: FHFA’s Sandra Thompson addresses loan buyback issue

Housing Wire

The Federal Housing Finance Agency (FHFA) Director Sandra Thompson said Wednesday that the agency is working to provide more clarity on its framework and use alternatives amid a spike in Fannie Mae and Freddie Mac ‘s loan buybacks. The GSEs’ loan buybacks have been one of the top complaints among mortgage lenders in a near 8% mortgage rate environment.

Finance 466
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Building Materials Price Inflation Cools in September

Eyes on Housing

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) was unchanged in September (not seasonally adjusted) after climbing 0.4% in August. Prices have increased 0.8%, year-to-date, the smallest YTD gain through September since 2019. The Producer Price Index for all final demand goods rose 0.9% in September after increasing.

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Yes, the market is slow — but for boutique teams, it’s an opportunity

Real Estate News

Side President Steve Capezza, who moved to the brokerage platform in January after almost a decade at Zillow, believes there’s power in finding joy in the work.

Brokerage 234
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Mortgage rates hit 20-year high as demand ‘close to multi-decade’ low

Inman

Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than two decades, according to the Mortgage Bankers Association's weekly survey.

Mortgage 191
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Joint ventures between title firms and real estate companies are under the microscope

Housing Wire

AI-generated image of two lawyers scrutinizing title insurance joint venture agreements. Image was created using MidJourney. In 1983 Jim Campbell launched what is believed to be the first joint venture experiment between a real estate brokerage and a title and settlement firm. It was the genesis of a several things, Campbell said, but primarily that real estate brokers and lenders in Pennsylvania were looking for a more effective way to control the process of buying and selling homes.