Mon.Feb 05, 2024

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Mortgage rates surpass 7% for the first time since December

Housing Wire

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. The 30-year conforming fixed mortgage rate was at 7.04% on Mortgage News Daily and 6.91% on HousingWire’s Mortgage Rate Center. It’s the first time since December that the average 30-year fixed rate has eclipsed 7%.

Mortgage 482
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HomeServices wants US Supreme Court to weigh Sitzer | Burnett case

Inman

The franchisor filed a petition to the Supreme Court on Friday requesting the review of an earlier appeals court ruling barring it from enforcing arbitration agreements signed by seller clients.

Sellers 192
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Positive signs abound for 2024 housing market: ICE

Housing Wire

Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan. 24, down more than a full percentage point since their peak in October, the report noted.

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Corcoran reels back Marcus-Wells Team, more agents, from Compass

Inman

In the ongoing tug-of-war for top agents, Corcoran Group has wrestled back eight boomerang agents from Compass and recruited an additional eight agents from Compass to the New York City-based brand.

Agents 190
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RealReports raises $2 million in seed funding

Housing Wire

Proptech company RealReports , formerly known as BHR , has successfully secured $2 million in seed funding. TTV Capital , Moderne Ventures , Erez Capital and other venture capital firms led the round of investment. With this capital infusion, the company aims to accelerate its product development, grow its team and pursue market penetration with real estate brokerages, MLS associations and other proptech companies nationwide.

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How Jorge Guerra Jr. balances the art and science of real estate

Inman

In his latest Snapshot profile, Brandon Doyle talks to the Revive Real Estate CEO about how his path was influenced by his medical background, bringing a unique analytical perspective to his business approach.

More Trending

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24 of the best listing lead ideas for 2024

Inman

Listings remain the name of the game, and agents who have the systems and skills in place to list properties and create client relationships will win, author and coach Darryl Davis writes.

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California’s ‘Master Plan for Aging’ is well received in its early days

Housing Wire

By 2034, an estimated one in five residents of the state of California will be age 65 or older. While this won’t lead to a “silver tsunami” when it comes to a flood of housing inventory, the impacts of an aging population are difficult to ignore. These shifting dynamics are causing the California state government to work to ensure that certain issues that can stem from such a demographic development — particularly for health care, housing and social services — are addressed in a comprehensive st

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36 real estate companies joined LeadingRE amid a whirlwind 2023

Inman

From Chisum Realty Group in New Mexico to Denovo Realty in Florida, the invitation-only business network added 14 U.S. companies to its roster in addition to nearly two dozen from across the globe.

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OneTrust Home Loans hires former Newrez executive as CEO

Housing Wire

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. As a result, co-founders Josh Erskine and Shane Erskine will be pivoting to the roles of CEO and president at Warp Speed Holdings , respectively. In a statement, Hecht expressed his enthusiasm about joining OneTrust Home Loans.

Lending 427
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A recovery in new listings is easy to miss — but it may be underway

Inman

Winter is always slow, but new listings have been trending toward normal levels in recent months, according to a new Intel analysis of US homes for sale. Lower rates may only speed up the process.

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Court temporarily blocks Florida law barring Chinese citizens from owning property

Housing Wire

A U.S. appeals court has halted the enforcement of a Florida law that bans Chinese citizens from purchasing property in the state, multiple news outlets reported. The decision places the law on hold until the court rules on the merits of the case. The next step comes when the three-judge panel of the 11th U.S. Circuit Court of Appeals hears oral arguments in April.

Law 417
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Sluggish net new listings signal that the lock-in effect is not over

Inman

In January, the real estate market saw a 17.5 percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

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HomeServices asks Supreme Court to apply arbitration to Sitzer suit

Housing Wire

Commission lawsuit defendant HomeServices of America is asking the U.S. Supreme Court to hear its argument that the Eight Circuit wrongly rejected arbitration agreements with unnamed class members in the Sitzer/Burnett commission lawsuit. In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors , liable for colluding to artificially inflate real estate agent commissions.

Contracts 417
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Investment sales dropped 45% in Manhattan last year

Inman

Investor sales in Manhattan had their worst year in the past decade during 2023, if 2020 is excluded, according to a report from Ariel Property Advisors.

Investing 176
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Real estate agents, here’s how to provide exceptional real estate service at scale

Housing Wire

One of the passions that has spanned my career in its entirety is creating exceptional experiences — for agents and their clients, our brokerage staff and anyone who interacts with our brand. At The Agency , where I serve as president, one of our core values is ensuring quality at every touchpoint — in our marketing , technology, services, events and beyond.

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REX appeals latest court loss, aims to keep fighting Zillow

Inman

The company is appealing a recent ruling that rejected its request for a new trial. REX has been feuding with Zillow for years now.

Realtors 190
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How Many Fees Are Needed for One Appraisal Order?

Appraiserblogs

Being beaten up about a fee increase request, new higher technology fees, or losing out to an order in a ridiculous bidding war and learning the AMC made more money than the appraiser on an order, or even having an order cancelled because someone else offered to take less compensation, are only a few of the issues the appraisal industry is facing. After reflecting on 2023, from the position as an appraiser, experiencing the changes in volume of orders, the compensation being offered to the appr

Appraisal 112
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Looking to add value to your team in 2024?

Inman

As we start a new year, brokers are thinking through how to adapt, adjust and grow their teams. And more important than growth for the sake of growth is making sure that every new real estate professional is adding the greatest value to your business – and this goes beyond commission numbers.

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Gains for Student Housing Construction

Eyes on Housing

According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories inched up 1.2% to a seasonally adjusted annual rate (SAAR) of $3.96 billion in the last quarter of 2023, after a 5.5% increase in the third quarter. Private fixed investment in dorms was 10.2% higher than a year ago, but still slightly below.

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It’s the little things, not the big things, that upend transactions

Inman

Troy Palmquist of eXp talks with bi-coastal broker and Inman contributor Cara Ameer about the lessons she's learned and what she'd share with agents now.

Agents 135
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ProTip: Mastering the GoFormz Properties Panel

GoForrmz

Understand all you can do with your digital forms in the GoFormz Properties Panel We're diving deep into the heart of form customization by focusing on the Properties Panel. Understanding the Properties Panel is crucial for optimizing your forms and ensuring they meet the specific needs of your business processes. First, it’s important to know there are two distinct different field types within the panel: Field and Display Properties.

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Where Home Prices Grew the Most (and the Least) in 2023

BiggerPockets

The U.S. as a whole only grew by about 1% last year, but other markets saw huge gains and massive losses. From New York City to Jackson, Mississippi, we analyzed the 100 largest metros in the nation and measured their home price growth from 2022 to 2023.

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Is a 55+ Community Right for You? Key Signs to Consider

Lamacchia Realty

IS A 55+ COMMUNITY RIGHT FOR YOU? KEY SIGNS TO CONSIDER Whether retirement is in your near future or within the next 10 years, it’s normal for your daily needs and lifestyle to change. Perhaps the kids have moved out and your big house is feeling too big. Maybe you’re just looking to downsize so you can spend less time cleaning the interior or tidying up the yard.

HOA 59
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Should You Buy Now or Wait? Here’s How to Mathematically Calculate Your Options

BiggerPockets

With high home prices and higher interest rates, investors have been wondering if now is the right time to buy. While it depends on the market and, even more so, the deal itself, with a long-term mindset, you can make it work by "marrying the property and dating the rate." Here's how to calculate if now is the right time to buy a property.

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When will Canada's housing market heat up?

Mortgagebroker News

Spring resurgence possible – but unlikely, says RBC economist

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Warren Buffett Is Wrong: Diversification Isn’t Just for Ignorant Investors

BiggerPockets

The so-called Oracle of Omaha said that diversification is protection against ignorance, but isn't this strategy a necessary part of intelligent investing? Here's why diversification, especially in real estate, is so essential.

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Commentary: How reverse mortgage pros can establish credibility with boomers

Housing Wire

In my previous article , we discussed the importance of re-evaluating reverse mortgage marketing to “seniors” by dividing the current demographic into two groups: members of the post-World War II generation and baby boomers. This understanding informs our approach to marketing and sales, ensuring that we see and hear our customers fully. In turn, this allows us to forge stronger, more meaningful connections and provide solutions that truly resonate with their needs.

Mortgage 417
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Seeing Greene: Your Last Chance Before the House-Buying “Tsunami” Hits?

BiggerPockets

Got just enough savings to buy a rental property? Before you pull the trigger, you’ll want to hear today’s episode because you could be making a big mistake.

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How to make a client today, a client for life

Mortgagebroker News

Get expert guidance here

Clients 77
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FIRE Advice from Codie Sanchez, Ramit Sethi, Money with Katie, and More!

BiggerPockets

After 500 BiggerPockets Money episodes, we’ve learned a thing or two about financial independence.

80
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Canada braces for rising unemployment in 2024's first jobs report

Mortgagebroker News

January's labour data is expected to show increased unemployment despite job additions

41
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How to Start an Airbnb Business in a Brand New Market

BiggerPockets

Want to know how to start an Airbnb business?

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Housing market hype: Buyers return amid rate cut expectations

Mortgagebroker News

Optimism surges as homebuyers seize the moment in a softening market