Thu.Dec 07, 2023

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Opinion: To support low-income borrowers, return Fannie Mae and Freddie Mac to the private sector

Housing Wire

Since the 2008 housing crisis , there have been significant changes that prompted the Treasury to place Fannie Mae and Freddie Mac under conservatorship. While the conservatorship has allowed for the mortgage market to be restored to its pre-crisis state and strengthened these two government-sponsored entities (GSEs), there are significant downsides to maintaining the status quo indefinitely.

Tools 545
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Redfin AI tool allows shoppers to virtually redesign rooms

Real Estate News

Powered by Roomvo, Redfin Redesign is launching on 75,000 listings and lets home shoppers change paint colors, flooring and countertops with a few clicks.

Tools 235
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Mortgage rates are (finally) back at 7%

Housing Wire

Mortgage rates continued their downward trajectory this week as the 10-year Treasury yield dropped below 4.2% for the first time since September, according to new data from Freddie Mac. The 30-year, fixed mortgage rate averaged 7.03% for the week ending Dec. 7, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s down significantly from last week ’s 7.22% and up from 6.33% the same week a year ago.

Mortgage 527
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Optimism about buying a home hits an all-time low

Real Estate News

Even with mortgage rates dropping, challenges like affordability and stagnating household finances are keeping consumers wary.

Finance 249
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How scammers are using AI to commit new fraud in real estate

Housing Wire

Editor in Chief Sarah Wheeler sat down with Tom Cronkright, co-founder and executive chairman of CertifID and CEO of Sun Title , to talk about battling the latest frauds and scams as bad actors leverage a new arsenal of tech tools to wreak havoc on buyers and sellers of real estate. Sarah Wheeler: Can you give us a quick overview of where we are on fraud?

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Mortgage rates flirt with the 7% mark, could drop further

Real Estate News

It’s the sixth straight week of declines, coinciding with signals that the economy is cooling.

Mortgage 257

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Millennials are more real estate obsessed than their parents: Poll

Inman

Nearly 60 percent of millennials said they felt homeownership is more important now than it was for their parents, according to the results of a new survey released earlier this week by Bank of America.

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Redfin reveals new AI-powered listing photos tool

Housing Wire

Redfin launched Redfin Redesign, an AI-powered tool for home photos, the company announced on Thursday. The new product allows homebuyers to make changes to the interior of a house in listing photos. This tool uses technology from Roomvo , a home design visualization platform. The tool empowers prospective homebuyers to imagine the potential of a home while playing with different design styles.

Tools 432
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Homebuyer sentiment tallies record low amid falling rates

Inman

Fannie Mae economist warns that, while mortgage rates have retreated, the primary drivers of housing pessimism are persistent affordability challenges and worries about household finances.

Finance 195
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Incenter rebrands, changes up leadership 

Housing Wire

Incenter Mortgage Advisors (IMA) has rebranded and changed its leadership to reflect the offering of a broader set of capital markets services. The company, which helped organize over $2 trillion in mortgage-servicing rights (MSRs), changed its brand name to Incenter Capital Advisors. It will emphasize corporate strategy and capital markets activities in different asset classes, institutions and balance sheet types.

Clients 421
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KW begins notifying former agents of profit-sharing cuts

Inman

People who left Keller Williams for a competitor have begun receiving letters telling them that their profit share earnings will be reduced from 100 percent to 5 percent.

Agents 195
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HousingWire Annual 2023 On Demand

Housing Wire

The Full Picture With how important and critical information is in the current environment, we’re excited to share recordings from this year’s HousingWire Annual. To watch the on-demand sessions, click on the buttons below. The full session videos are only available to HousingWire Subscribers. Not subscribed yet? Join here. Tuesday Making Sense of Wild Housing Data for 2023 Speaker: Logan Mohtashami, Lead Analyst, HousingWire Watch Now Sponsored by: Busting the Top Myth in Mortgage Through

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How Katie Lance empowers real estate pros with social media

Inman

As part of his Snapshot series, Brandon Doyle learns how, in a world where digital presence is increasingly crucial, Katie Lance is empowering agents and brokers to thrive.

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Title giant Stewart sues Qualia over software licensing agreement dispute

Housing Wire

Big Four title firm Stewart Title has filed a lawsuit against closing and title production software provider Qualia over a contractual dispute. In a lawsuit filed in early November in District County Court of Harris County, Texas , Stewart accuses Qualia of giving the firm “improper notice” for terminating its licensing agreement for the title production platform ResWare.

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Real Geeks new website builder is real fast, SEO-first

Inman

Real Geeks new feature was conceptualized to help real estate agents, teams and brokerages publish heavily SEO-optimized websites fit to handle IDX data feeds wrapped around content targeting agents’ specific markets.

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7 best real estate schools in Massachusetts for 2024

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Many Massachusetts real estate schools offer online courses. We’ve researched the best online programs to help you quickly complete the 40 hours of prelicensing classes required by the Commonwealth of Massachusetts.

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Forget the deadbolt, residents of these trusting towns say

Inman

People who live in Hollister, California, feel most confident about leaving their doors unlocked at night, according to a survey by Automatelife.net, because of low property and violent crime rates.

Marketing 184
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Pennymac raises $750M in unsecured debt

Housing Wire

California-based Pennymac Financial Services raised $750 million in unsecured debt with qualified institutional investors, 15% more than it initially expected, the company announced Thursday. Pennymac will use the proceeds of the offering to repay $650 million in debt due in October 2025. The remainder will be used for “other general corporate purposes,” the company said in an 8k filing with the Securities and Exchange Commission (SEC).

Investors 383
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Broker Spotlight: Nick Zawitz, The Agency Cleveland

Inman

Find out how managing broker Nick Zawitz and his brokerage are sharing the good news about his market, which he calls one of residential real estate's "best-kept secrets.

Brokerage 180
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Flagstar Bank’s one-stop-shop model revolves around brokers’ best interests

Housing Wire

Flagstar ’s presence and expertise in the third-party wholesale mortgage origination market have combined to create a history of success extending over 35 years. The company’s close partnerships with mortgage brokers and correspondents transforms feedback into impactful products, technology and services that help clients grow their businesses in any economic environment.

Lending 332
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Landing adds new management service to its flexible living model

Inman

Branded “AutoPilot,” the new product gives Landing customers the option to use the company’s extensive network of members as a customer base, as as well for furnishing units, marketing vacancies, assisting tenants and, according to the company, “everything in between.

Tenants 176
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1 in 3 Buyers Uses Cash – Highest Share in a Decade

Empire Appraisal Group

1 in 3 Buyers Uses Cash – Highest Share in a Decade By Kerry Smith In Fla., cash sales dropped year-to-year in only one metro: Fort Lauderdale. The percentage of cash sales ranged from 38.2% in Tampa to 49% in West Palm Beach. SEATTLE – Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in nearly a decade, according to a report from Redfin.

Buyers 78
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Sick and tired of low production? 5 tips to raise your numbers in 2024

Inman

If you're frustrated by too-few clients and a sluggish market, writes Jimmy Burgess, it's time to get back to basics with these tried and true lead-gen strategies.

Clients 180
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Have Farm Land for Sale? Get In the Zone with These 5 Steps!

The Robert Weiler Company

In Ohio, land development continues to flourish and your farm land for sale may be a hot commodity for commercial real estate investors and brokers alike. Is your land perfect for the next shopping center, entertainment venue, or multi-family housing unit in your area? If you’re unsure of the investment potential of your commercial farm land, our tips below will help you better understand local zoning restrictions and the process of rezoning.

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How changes to CPI may provide better rent inflation insights

Inman

A recent working paper by the Federal Reserve Bank of Cleveland explores a new way to measure rent in the CPI that could give earlier insight into the direction of consumer housing costs.

Investing 183
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Facing Your Fears: An Empowered Approach to Going Paperless

GoForrmz

Is this your year for digital transformation? You’re getting ready to head into the new year, but are you ready to leave your old paper processes in 2023? Embracing a digital transformation has become a necessity for nearly every industry, from more cost-effective ways of handling business, to environmentally conscious processes, to faster and more streamlined communications throughout your team, the benefits to integrating technology into your business are nearly limitless.

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7 smart strategies for getting more real estate leads for less than $100

Inman

If social media, direct mail and networking aren’t yielding enough leads, try these simple, inexpensive strategies from author and coach Darryl Davis.

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The State of Real Estate Investing: What You Need to Know for 2024

BiggerPockets

Despite unpredictable mortgage rates, there’s a huge opportunity for real estate investors in the coming year. Get insights and strategies from the BiggerPockets 2024 State of Real Estate Report.

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10 things to do when your real estate team isn’t vibing

Inman

Need to get everybody in your organization rowing in the same direction? Nikki Beauchamp shares strategies to improve the vibe for your crew.

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Need Funds for Your Business? How to Get FREE Money Through Business Grants

BiggerPockets

Are you sitting on an amazing business idea? Knowing how to get money to start a business is a critical first step to getting your concept off the ground.

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Ontario principal broker hit with administrative penalty by FSRA

Mortgagebroker News

Broker, brokerage failed to take reasonable steps to verify a borrower's identity, says regulator

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Impression Videos December 2023

Aedis Appraisals

The post Impression Videos December 2023 appeared first on Real Estate Appraiser | Vancouver, BC.

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CIBC faces $1.3m penalty from Fintrac

Mortgagebroker News

Fine related to non-compliance with money laundering, terrorist financing measures

Finance 71
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Share of Homes Built in Community Associations Edges Down Again

Eyes on Housing

According to data from the Census Bureau’s Survey of Construction (SOC), 62.6% of single-family homes started in 2022 were built within a community or homeowner’s association. This marks the second year in a row that the share declined, from the high point of 67.1% posted in 2020, and 65.5% in 2021. Prior to 2021 the share had been on a.