Mon.Sep 25, 2023

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MV Realty files for bankruptcy

Housing Wire

Right-to-list agreement firm MV Realty has filed for Chapter 11 bankruptcy in 33 states. The story was first reported by CBS News. MV Realty currently faces lawsuits in multiple states for allegedly misleading consumers and homeowners. In addition, the Florida-based firm has been essentially banned from operating in 14 states through legislation. MV Realty operated in 33 states and has more than 500 real estate agents.

Realty 450
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What happens to real estate when the government shuts down?

Real Estate News

Housing market impacts could include mortgage delays, declining consumer confidence and — perhaps — a small dip in mortgage rates.

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Equifax to cut underwriting time with IRIS Software Group 

Housing Wire

Equifax ‘s new product integration with the United Kingdom’s IRIS Software Group aims to cut down underwriting time for mortgage borrowers at small- and medium-sized businesses (SMBs). Equifax’s digital income and employment verification tool – The Work Number – is available to one million additional employees of U.S. SMBs who use IRIS Payroll Relief software, Equifax said in a news release.

Legal 441
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Amazon committing $40 million to support homeownership

Real Estate News

The tech giant announced its latest effort to promote housing, focused specifically on homebuyers.

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Better conducts layoffs just weeks after going public

Housing Wire

Just weeks after New York-based digital lender Better Home & Finance Holding went public , Better issued pink slips to employees in early September in a new round of layoffs, Insider reported. Better laid off about a quarter of its U.S. mortgage sales and origination team, according to the news outlet, citing two former employees who were affected by the latest downsizing.

Insurance 421
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How luxury agents can tap into the rise of multigenerational living

Inman

Across the real estate sector, multigenerational living has emerged as a beneficial solution for many families. As the older generation ages, they’re cared for by loved ones. Younger generations are supported by their parents in sharing the costs and responsibilities of homeownership, and grandparents are available to help raise grandchildren.

Agents 205

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Housing inventory is low, but there’s a catch

Inman

The 2023 real estate market has been a bit of a conundrum for agents and brokerages. Mortgage rates are high, listing prices are elevated, and housing inventory is limited. Construction of new homes is largely stalled or at least not meeting the high demand, and many homeowners who locked in record-low interest rates during the pandemic simply aren’t willing to leave their homes and sell.

Inventory 192
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NAHREP launches National Hispanic Construction Alliance

Housing Wire

The National Association of Hispanic Real Estate Professionals is launching a new trade organization to support Latino construction businesses and workers in building capacity, access to capital and creating business opportunities for its members. The National Hispanic Construction Alliance (NHCA) will be led by veteran construction industry executive George Carrillo as CEO.

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Compass’ luxe magazine ‘Curated’ now available in 25 private airports

Inman

The luxury magazine with a distribution of about 35,000 will now be accessible to ultra-high-net-worth clients flying through select private airports in the U.S., the brokerage told Inman exclusively.

Brokerage 190
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LGBTQ+ Real Estate Alliance announces top real estate agents and team

Housing Wire

The LGBTQ+ Real Estate Alliance unveiled its third annual LGBTQ+ Real Estate Top Producers list and recognized 388 individual agents and teams for their 2022 production. This was up from last year’s 251, an increase of 51% more honorees. The ranking, which was created in partnership with RealTrends and supported by Sotheby’s International Realty , is the industry’s only list recognizing top-producing LGBTQ+ and ally members.

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Serious mortgage delinquencies poised to bounce from 17-year low

Inman

Early-stage delinquencies have increased for three months in a row, suggesting that delinquency rates may be nearing a bottom, according to first look at Black Knight Mortgage Monitor report.

Mortgage 186
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Curinos partners with Polly on lenders’ workflow optimization

Housing Wire

Data provider Curinos partnered with Polly , a software-as-service mortgage technology firm, aimed to support lenders’ effective margin decisions. By integrating Curinos’ market pricing data into Polly’s cloud-native Product and Pricing Engine (PPE), the partnership will enable mortgage lenders to optimize workflows and positively impact margin management, Curinos said in a news release. “Our partnership will enable clients to seamlessly analyze their market position and

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Mi casa es su casa

Inman

In honor of National Hispanic Heritage Month, we sat down with Nora Aguirre, affiliated agent of CENTURY 21 Americana, to hear about her empathetic approach to success in Las Vegas real estate.

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People on the Move: NAHREP names CEO at new builder org; Real hires finance VP

Real Estate News

George Carrillo will take on the top role at the newly launched National Hispanic Construction Alliance; Ravi Jani joins Real as VP of investor relations.

Finance 144
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How to keep social media from becoming all-consuming

Inman

Feel like you have to be everywhere all the time? Studies show too much social media is bad for you. Here’s how indie broker Pam Blair keeps a healthy relationship with her feed.

Agents 180
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When — And Why — Are You Required to Have Commercial Real Estate Appraised?

Appraisal Hub

Navigating the world of commercial real estate in Canada can often feel like embarking on a grand adventure. Each property holds its own story, brimming with potential and opportunities. But how do you unlock the true value hidden within these commercial spaces? The answer lies in a comprehensive commercial real estate appraisal. Let’s delve deeper into this essential process and understand when and why it becomes a necessity.

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AI-powered Realm-X headlines AppFolio’s software updates

Inman

AppFolio's Realm-X uses AI to assist users with a number of critical business tasks, including those primary to any property manager’s to-do list, blanketing steps in leasing, maintenance and accounting.

Business 181
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Student Housing Has Remained Resilient and Profitable—So Should You Invest in It?

BiggerPockets

This type of housing has been a top performer in their markets since before the 2008 recession. They continue to surge today. Should you be investing in them?

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Happy Grasshopper launches new consulting program for agents

Inman

The year-long program includes one-on-one consultations with team members to assess campaign tactics, review metrics and generate ideas to increase response rates and lead generation results.

Agents 180
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Home Equity: What It Is, How To Calculate, & How To Use It

BiggerPockets

Your equity should grow the longer you own a property. We'll explain what is home equity and everything you need to know to use it to your advantage.

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The Inman Connect Virtual event is back in 6 weeks

Inman

During this two-day virtual real estate event, agents, brokers, tech and marketing professionals, and industry visionaries bring insights, tools and how-tos to build your business next year. Join us from the comfort of your desk or bring in the team for a training event.

Training 177
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Private Debt Funds are Attractive Right Now—But You Must Ask These Questions First

BiggerPockets

Private debt funds can be a great way to diversify, reduce risk, and earn passive income, but it's critical that you ask these essential questions first.

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Better cuts mortgage sales team 2 weeks after $500M SPAC raise

Inman

The lender has become more reliant on its B2B channel, with partnerships alongside companies like Ally Bank and American Express accounting for nearly half of its mortgage originations.

Mortgage 173
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Construction Prices are Making BRRRR Investments (and The Home Depot) Deeply Unprofitable

BiggerPockets

It’s not just you. The cost of construction—be it on rehabs or new builds—has gone through the roof. What does this mean for investors long-term?

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Why does collaboration matter to real estate right now?

Inman

When we talk about real estate, we talk about people; when we talk about the people in real estate, we talk about collaboration.

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What Is a Real Estate Broker?

BiggerPockets

A broker is an essential real estate partner. We'll explain what is a real estate broker and how they can help you land your next investment property.

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Corcoran affiliate Magri Properties to open 2nd office in Verona

Inman

Known as the "City of Love," Verona is a popular destination for native Italians and international buyers alike, and conveniently neighbors Corcoran Magri Properties' existing office in Lake Garda.

Buyers 162
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Kitchener-Waterloo market: What's the latest?

Mortgagebroker News

Many of the forces impacting other markets are at play in the region

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Manhattan’s ‘Devil Wears Prada’ townhouse sells for $26.5M

Inman

The seven-bedroom, six-story townhouse on Manhattan's Upper East Side spans 12,000 square feet and was listed for $27.5 million in May.

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Are Toronto and Vancouver in a housing bubble?

Mortgagebroker News

Rising financing costs and higher mortgage stress rates seen to affect prices

Finance 71
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Embattled MV Realty files for bankruptcy amid flood of lawsuits

Inman

The company is currently facing lawsuits from more than a half-dozen states over its allegedly deceptive business practices.

Realty 192
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Rental market becoming competitive amid rising interest rates

Mortgagebroker News

Economist notes population growth plays key role in housing market

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Take the inaugural Inman Intel Index survey for September 2023

Inman

Questions that matter. Actionable insights. Inman is officially launching Triple-I, a survey unlike any other in the real estate industry.

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The Suburbs Have Been Revived—But Will They Stay Hot?

BiggerPockets

The pandemic years ushered in a new revival of the suburbs, but are they overpriced now? How long will it last? Read more to find out.