Thu.Mar 02, 2023

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The 7% mortgage is back with a vengeance

Housing Wire

Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. And it could be a while before they tick back down, economists say. The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10% , up 16 basis points from 6.94 on Wednesday. The most recent survey by Freddie Mac measured 30-year fixed-rate mortgages at 6.65% for the week ending Thursday, driven by the 10-year Treasury surpassing 4.0%.

Mortgage 433
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5 big business takeaways from RE/MAX’s R4 conference this week

Inman

RE/MAX hosted its latest annual R4 conference in Las Vegas this week. Here are the top tips to create an "unstoppable" business straight from RE/MAX execs, trainers and top producers.

Business 148
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How non-QM lender A&D Mortgage grew origination volume in 2022

Housing Wire

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Rising rates caused refinances to dry up, production plummeted, and pink slips were issued to employees. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 billion in 2022, up from the previous year’s $2.2 billion, largely due to improvement in tech that helped pick up market share from compe

Mortgage 393
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Real estate took a drubbing in Q4, but some companies still surprised

Inman

Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves.

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Real estate agents wonder if inventory levels will ever return to ‘normal’

Housing Wire

Temperatures are rising, the sun is setting later, and the daffodils are starting to peek their green leaves out of the earth — spring is coming. And just like the bears who are starting to wake up from their long winter naps, homebuyers and sellers are coming out of hibernation… or at least they normally do. Nationwide, pre-pandemic the first week of February typically marks the lowest point for housing inventory during the year, as sellers return to the market in time for spring, but since the

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Utah 1st state to ban long-term listing agreements enforced by lien

Inman

Legislation expected to go into effect April 1 addresses allegedly deceptive tactics employed by MV Realty and was based on a model bill drafted by American Land Title Association.

Realty 148

More Trending

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Keller Williams’ Marc King on what he learned from the last recession

Inman

In this Inman Access class, Marc King of Keller Williams discusses key financial principles real estate professionals should implement to reach their goals and build wealth in their businesses.

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Ginnie Mae promotes Valverde, seeks COO

Housing Wire

Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. The government corporation is also seeking an executive vice president and chief operating officer to manage daily operations and round out the leadership team. In a statement, McCargo said she “relied heavily” on Valverde’s expertise and leadership over the past year.

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Steady home-price growth to resume in 2024, experts predict

Inman

Price growth will pick back up in 2024 and hit a rate of 3.5 percent annual growth every year through 2027, according to a panel of housing experts surveyed by Zillow and Pulsenomics.

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Use of Residential Energy Tax Credits Increases

Eyes on Housing

In 2005, Congress established several energy-efficiency tax incentives related to housing that benefit new-home buyers and remodeling homeowners. These policies included the tax code section 25C credit for retrofitting/remodeling existing homes, and the 25D credit for the installation of power production property in new and existing homes. Taxpayers claim these residential energy credits using Form 5695.

Buyers 117
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Broker Spotlight: Eric L. Zollinger, Elegran | Forbes Global Properties

Inman

Learn how this NYC broker leverages a wide-ranging background and award-winning marketing expertise to build an exceptional professional profile.

Marketing 148
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CoreLogic Policy Change Counter to USPAP Requirements

Appraiserblogs

CoreLogic is pleased to announce a change to its data retention policy. I received this notice from CoreLogic: Effective April 1, 2023, CoreLogic’s maximum storage commitment for appraisal and title data will be limited to 5 years. NOTICE OF CHANGE TO CORELOGIC DATA RETENTION POLICY Dear Trusted Provider, In careful consideration of requests from our clients as well as industry risk management best practices, CoreLogic is pleased to announce a change to its data retention policy.

Appraisal 110
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This little-known niche helps charities (and agents) get paid

Inman

Help your favorite non-profit unlock charitable gifts of real estate while you earn a full commission as well. Trainer and author Bernice Ross talks to Cami Baker about this little-understood marketing strategy.

Agents 146
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Black and Hispanic Homebuyers Are More Likely To Face Housing Discrimination

Realtor

Getty Images Communities of color are more likely to experience discrimination in nearly every step of their homebuying journey. Minorities continue to have higher mortgage application denials, have the lowest homeownership rates , and have properties that are more at risk of being undervalued by appraisals, according to a recent report from the National Association of Realtors®.

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Housing inventory shoots up as homes sit longer on the market

Inman

A new report from Realtor.com shows that homes were sitting on the market for an average of 67 days in February, up from just 44 last year at the same time.

Inventory 147
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Fla. Has 9 of 21 Top Overpriced Rental Markets

Empire Appraisal Group

NEWS & MEDIA Andrii Yalanskyi/Getty Images Plus Source: Fla. Has 9 of 21 Top Overpriced Rental Markets | Florida Realtors Fla. Has 9 of 21 Top Overpriced Rental Markets By Sam Sachs FAU: Fort Myers metro renters pay 18.05% above long-term trends, along with Miami, North Port, Jacksonville and five Central Fla. metro areas. TAMPA, Fla. – The rent cost is high, and has been for a while, especially in Florida.

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It’s official: New York remains the world’s priciest real estate market

Inman

More ultra-prime real estate transactions took place in New York in 2022 than anywhere else in the world, according to the 17th annual Wealth Report released Wednesday by Douglas Elliman.

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Clear Capital Announces Universal Data Collection in Support of Fannie Mae Appraisal Modernization Policy Changes

Clear Capital

Clear Capital Announces Universal Data Collection in Support of Fannie Mae Appraisal Modernization Policy Changes UDC data set provides lenders with immediate national scalability, interchangeability and less complexity for loan management Reno, Nev. – March 2, 2023 – Clear Capital , a national real estate valuation technology company, today announced the launch of Universal Data Collection (UDC) , the latest in the Company’s suite of products designed to support appraisal modernization.

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Tech-enabled, hybrid brokerage Prevu opens in Florida

Inman

The digital homebuying solution that heavily leverages detailed online search and buyer due diligence before engaging its salaried agents now operates in Miami, Fort Lauderdale, Boca Raton and West Palm Beach.

Brokerage 145
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Lamacchia Realty Featured in New RISMedia Article

Lamacchia Realty

March 2, 2023 – Lamacchia Realty was recently featured in a new article from RISMedia titled “Lamacchia Realty Continues to Defy Gravity” The article describes the growth and success of Lamacchia Realty, and highlights the expansion the brokerage has embarked on regardless of the unique circumstances over the last several years. "Anthony Lamacchia has been in fast-forward mode ever since turning his highly successful team model into a brokerage in 2015.

Realty 70
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Real Estate Webmasters launches REWpert, a human-assisted AI tool

Inman

REWpert will allow customers to do more than craft listing descriptions. The company said REWpert will exercise more of what ChatGPT-maker Open AI intended its tool to do.

Tools 148
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The “Catalyst” That Could Cause The Economy to Fall

BiggerPockets

The 2023 economy doesn’t fit what the forecasters were predicting. Inflation was up, but now it’s coming back down, interest rates keep rising, but homebuyer demand is coming back?

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Zillow Home Loans seeks a way forward: Mike DelPrete

Inman

According to industry expert Mike DelPrete, a multitude of factors need to go right for Zillow Home Loans to meet its revenue goals and compete with traditional mortgage products.

Mortgage 142
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Foreign buyer ban: Is it having an impact?

Mortgagebroker News

Economist argues federal government is failing to address Canada's supply shortages

Buyers 69
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As locals balk, foreign buyers take renewed look at US homes

Inman

Real estate firms that work with foreign buyers have seen an uptick in business from outside the U.S., "The Wall Street Journal" reports.

Buyers 145
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DSCR Loans: How To Use Pro Strategies To Save More And Make More

BiggerPockets

This article is presented by Easy Street Capital. Read our editorial guidelines for more information.

Finance 64
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Industry experts discuss investing, business plans and building wealth

Inman

Join Inman Access to hear Spencer Rascoff, Marc King and others break down investment opportunities, business planning and more.

Business 143
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Finance Friday: How to DOUBLE Your Net Worth in 1 Year (or Less!)

BiggerPockets

Doubling your net worth in only a year? Seems impossible, right? Is making such massive money moves during a down market even realistic?

Finance 55
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Office-exclusive listings are the same as pocket listings. Why doesn’t NAR think so?

Inman

Under the Clear Cooperation Policy, a listing can be “withheld” from the MLS and become an “office-exclusive” listing. Broker Teresa Boardman questions the wisdom of this exception.

Brokerage 112
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Vancouver home sales rise in February on monthly basis

Mortgagebroker News

Activity still remained well below the 10-year average for the month

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Real Estate Investing Strategies with Derek Williams – Real Estate Real Fast Episode 16

Listing Spark

Episode Summary Aaron Jistel interviews real estate investor Derek Williams about his experience in the business and strategies for success. They discuss topics such as flipping houses, finding partners, bank financing, lead generation and motivated seller tactics, a tight buy box, and listing on the MLS. About Derek Williams Derek Williams is an experienced real estate investor who has completed over 100 deals in the past decade.

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Stakeholder feedback essential to MBRCC, says new chair

Mortgagebroker News

Engagement with trade associations, education providers, and larger brokerages to remain key focus

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AirDNA’s Best Places to Invest in Vacation Rentals in 2023—Are They Really the Top Markets?

Mashvisor

Are you looking for profitable locations to invest in vacation rentals? Here is Mashvisor’s analysis of AirDNA best places to invest in 2023.

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First National Financial Corporation releases Q4, year-round results

Mortgagebroker News

The group weathered the worst impacts of the BoC's rate hikes, top exec says

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