Wed.Mar 29, 2023

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Mortgage demand gets a boost as rates decline for three straight weeks

Housing Wire

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. Mortgage applications increased 2.9% week over week on a seasonally adjusted basis for the week ending March 24, according to the Mortgage Bankers Association (MBA).

Mortgage 401
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Is the Definition of Market Value Outdated? Part II

George Dell

In Part One we asked why the current definition of market value has been around without change for so long? We focused on item 4 in the current definition of market value which says: “payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto” Editor’s Note: […] The post Is the Definition of Market Value Outdated?

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FHFA to expand payment deferrals for borrowers facing hardships

Housing Wire

Government-sponsored enterprises Fannie Mae and Freddie Mac will allow borrowers facing financial hardships to defer up to six months of mortgage payments, the Federal Housing Finance Agency (FHFA) announced on Wednesday. The option was previously available for borrowers who fell behind on their mortgage payments due to the financial impacts of the Covid-19 pandemic, but the enterprises will start offering it for those experiencing other eligible hardships.

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Gen Zers see ‘green homes’ in their searches, says RE/MAX study

Inman

Amid an economic landscape in flux, homebuyers and sellers continue to want expert advice from real estate agents while looking to prepare for the future, and for Gen Z that means finding "green homes," according to RE/MAX.

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Hope Through Housing uses MLK Grant to fund after school programs

Housing Wire

Hope through Housing is a non-profit organization whose mission is to end generational poverty through affordable housing , educational programs and advocacy. In 2022, they were the recipients of an MLK grant which will be used to fund their youth development initiative. As people across the country celebrated MLK day on January 16th, Greg Bradbard, president of Hope Through Housing, sat down with HousingWire to talk about the impact the grant will have on his organization and the affordable hou

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Falling mortgage rates and home prices spur homebuyer interest

Inman

Demand for purchase loans picks up for the fourth straight week as mortgage rates continue to retreat from 2023 highs, according to the latest Mortgage Bankers Association survey released Wednesday.

Mortgage 217

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Love-hate relationship with social media? Here’s how I make it work

Inman

Although people have mixed feelings about social media, there's no denying that it's a valuable tool for marketing your business. Find out how agent Nikki Beauchamp puts it to work effectively.

Tools 168
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Don’t forget to reserve your room for HousingWire Annual

Housing Wire

HousingWire Annual kicks off on October 10, 2023. It will be here before you know it! As the conference quickly approaches, so does the deadline to lock in the exclusive room rate for Hyatt Lost Pines in Austin, Texas. Take advantage of staying on the property and being close to all the conference sessions and networking events. Lock in the HousingWire Annual room price of $309/night before the block closes.

Business 381
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Sherry Chris and Amory Wooden on how tech and culture ‘fuel’ ERA

Inman

As ERA Real Estate's Fuel conference unfolds this week, Chris and Wooden, the brokerage's CEO and CMO, revealed how they navigate a slow market and the technology they routinely deploy.

Brokerage 156
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Biden urged to consider Build America’s impact on affordable housing

Housing Wire

A coalition of 24 housing organizations, individual leaders and trade groups, led by the National Housing Conference (NHC), are urging President Joe Biden to exempt affordable housing development and repair from the Build America, Buy America Act (BABA) provisions of the Infrastructure Investment and Jobs Act. This includes affordable homeownership repair and development programs and U.S.

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Bombshell multibillion-dollar commission suit now a class action

Inman

A judge on Wednesday granted class certification in a federal commission suit that could rock the real estate industry and impact how agents are compensated nationwide.

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Opinion: Don’t cut back on professional support services

Housing Wire

The old saying that “the devil’s in the details” can be applied to many different circumstances. And it’s undeniable that the title and settlement services industry is, at its very core, about close attention to the little things. After all, title insurance is only issued after the public records are thoroughly scrutinized. But now, more than ever, title agents should be mindful of the axiom, especially when it comes to decision-making and budget cuts.

Training 316
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Property Tax Revenues See Largest Increase Since 2009

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $286 billion in taxes were paid by property owners in the fourth quarter of 2022 (not seasonally adjusted).[1] State and local governments collected $714 billion in property taxes in 2022, $46 billion more than 2021. The 6.9% annual increase is the largest since property tax receipts climbed 9.3% in.

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Fidelity to pay $3.5M fine over “no-poaching” agreements

Housing Wire

Fidelity National Financial has agreed to pay a $3.5 million fine to the state of New York, following an investigation by the Office of the Attorney General that discovered the top U.S. title insurance company had “no-poach” agreements with rivals. Jacksonville-based Fidelity is the fifth large national title insurance company to sign an agreement to end no-poach practices in New York, followed by Old Republic National Title in September 2021, AmTrust and First Nationwide in July 2022, and Stewa

Insurance 377
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@properties, Christie’s expand to Madison, Wisconsin, with affiliate

Inman

The independent brokerage formerly known as LeGrand Real Estate is the luxury brand's first affiliate in Madison, and its third in the state of Wisconsin. It is led by the mother-son team of Melissa LeGrand and Brogan Brunker.

Brokerage 152
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February pending home sales disappoint, but maybe we’re turning a corner?

Housing Wire

Don’t call it a comeback? Pending home sales rose for the third month in a row in February, but at 0.8%, the uptick over January was less than is typically seen in the run-up to the spring housing market. Month-over-month, contract signings increased in three U.S. regions, but declined in the West, according to the National Association of Realtors.

Contracts 301
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Will an inventory shortage stymie spring? Look to 1994 for clues

Inman

This spring won't be easy for homebuyers and their agents, but history is full of examples in which the supply of homes went down, but sales kept chugging along, according to an Inman analysis.

Inventory 156
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Gathering of Eagles is for mortgage professionals too

Housing Wire

This year, Gathering of Eagles is excited to invite colleagues from the mortgage industry to the real estate-centered event. There is no better time than a tough market to come together as a community. Mortgage lenders need to strengthen their bonds with real estate agents, and broker-owners must communicate with title professionals. It’s now more important than ever to remember that your sphere of influence reaches more than just customers.

Mortgage 371
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Dreading a rise in foreclosures? Here’s one economist’s take

Inman

Windermere Chief Economist Matthew Gardner has pulled the latest data on foreclosure starts and looked at the quality of mortgages that have been given to buyers in order to give you a clear idea of how foreclosures will impact the overall housing market.

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Eroding Consumer Protection

Appraiserblogs

Waiving appraisal requirements on residential homes could erode consumer protection, stall attempts to create diversity in the profession… The recent announcement from Fannie Mae that they will waive the requirement for residential home appraisals has caused quite a stir in the industry. Fannie Mae’s decision to waive appraisals during this time of soon to come recession and bank liquidity issues is both surprising and concerning, and could have serious implications for both consumers and finan

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10 proptech entrepreneurs get real with real estate’s decision-makers

Inman

From Rentspree to Better, Intel asked 10 property technology entrepreneurs tough questions on the minds of their colleagues and customers, many of them large, national brokerage brands.

Brokerage 152
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How to Find a Property Manager Company in Ohio

The Robert Weiler Company

As an investor, you know that income-generating properties can bring a reliable monthly cash flow and build long-term wealth. You’ve also learned that much time and effort goes into managing investment properties. To maximize your return on investment, you must hire a licensed property manager company in Ohio to oversee the daily operations. Hiring the wrong property manager can result in missed rent, vacancies, poor maintenance, tenant dissatisfaction, and financial loss.

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Pending sales increase 3rd-straight month as prices cool: NAR

Inman

"Existing-home sales, pending contracts and new-home construction pending contracts have turned the corner and climbed for the past three months," said NAR's Lawrence Yun.

Contracts 152
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March 2023 appraisal industry events recap - Part 2

Valcre

Where we were It was standing room only in New York City at CRE Collective 's sold out AI + Data in CRE event on Wednesday, March 22nd. The event brought together some of the most brilliant minds in the field of artificial intelligence (AI) and machine learning (ML). It was dedicated to the discussion of the enormous potential that AI and ML hold for industries of all types.

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Nest Seekers expands to Mexico as demand from US skyrockets

Inman

The luxury brokerage has added offices in Cabo San Lucas, Riviera Maya and Mexico City as demand for real estate in the accessible and affordable country skyrockets.

Brokerage 152
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A Spike In Supply Could Tank Multifamily Prices This Year

BiggerPockets

Recent data suggests that there may be a short-term glut of multifamily units hitting the market at an inopportune time and could lead to several price declines across the nation.

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Collaborate, communicate, calculate: 7 ways to keep buyers in the deal

Inman

The more a buyer is educated about the ins and outs of a transaction, the more comfortable they'll be with bumps in the road. Luxury agent Cara Ameer offers insights designed to help you keep buyers on track.

Buyers 152
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28 Rentals Before 28 Years Old (and Doing it All in Just 3 Years!)

BiggerPockets

Twenty-eight rental units before turning twenty-eight years old? That takes some SERIOUS drive. But after talking to Jake Radawick, the whole story makes much more sense.

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Mike DelPrete on the perils of hurting for cash in a down market

Inman

Big brokerages and emerging disruptors alike dipped into savings as revenues declined late last year. Industry analyst Mike DelPrete spoke exclusively to Intel about the options at their disposal.

Brokerage 151
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Federal budget: Will it provide any relief for Canadian homeowners and buyers?

Mortgagebroker News

The announcement contained protections for mortgage holders and updates on the tax-free first-home savings account

Buyers 69
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Fidelity to pay $3.5M in crackdown on ‘no-poach’ agreements

Inman

Five title insurance companies have paid $8.25 million in the last 18 months to settle antitrust allegations leveled by New York Attorney General Letitia James.

Insurance 120
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Budget 2023: New policies aim to improve housing affordability

Mortgagebroker News

The measures are geared towards boosting consumer access to shelter amid soaring costs

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Agents don’t prefer their office’s ‘preferred lender’? Here’s what to do?

Inman

In this month's agent-broker perspective, what should an agent do when her brokerage's affiliated lender is less than preferable?

Agents 148
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BC needs significantly accelerated housing construction, says real estate board

Mortgagebroker News

The next half-decade will be a crucial period for the province's housing supply