Thu.Jun 01, 2023

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Planet acquires Platinum Home Mortgage Corporation

Housing Wire

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The financial terms of the transaction have not been disclosed. With the acquisition, Planet will inherit the majority of Platinum’s origination staff and branches throughout the country. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets.

Retail 397
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Doctorow out as Move Inc CEO; News Corp exec to take over

Real Estate News

David Doctorow is stepping down as CEO of Move Inc, parent company of Realtor.com. News Corp exec Damian Eales starts on June 12.

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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” The proposed rule would also implement quality control standards that govern the use of automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans.

Valuation 397
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Most Americans support adding density to combat affordability woes

Real Estate News

Housing supply has not kept up with demand, but building more units in existing residential neighborhoods could be part of the solution.

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HousingWire Magazine: The Real Estate Issue

Housing Wire

Brena Nath, Director of HW+ and Events TO QUOTE BON JOVI, “Whoa, we’re halfway there!” The last six months in the housing market were tough. 2023 has been a year that started off with some renewed optimism thanks to an uptick in housing activity but quickly took a turn as events, like the collapse of Silicon Valley Bank, threw a wrench into a lot of forecasts for the year.

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David Doctorow steps down as CEO of Realtor.com parent Move, Inc.

Inman

Doctorow oversaw the company as its revenues and site traffic rose to record highs, the company said. But as with the rest of the industry, Move has shown signs of a slowdown.

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Mortgage rates jump, but debt deal should reduce pressure

Real Estate News

The 30-year fixed-rate mortgage surged by nearly a quarter point this week to reach the highest level since November.

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California Senate OKs bill for affordable housing on nonprofit-owned land

Housing Wire

The California State Senate passed a bill this week that would permit the construction of affordable housing units on land owned by faith-based institutions and nonprofit colleges, even if local zoning ordinances and laws would normally prevent construction. The bill, introduced last December by Sen. Scott Wiener (D-San Francisco), is designed to reduce barriers faced by nonprofit organizations, churches, synagogues and mosques for constructing multifamily housing units on their properties.

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KW, Coldwell Banker and others sued over alleged discrimination

Inman

The new lawsuit claims that a host of big-name real estate companies, as well as various landlords, refused to accept Section 8 vouchers for lower-income renters.

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Marketing leader Jon Lyons to speak at HW Annual

Housing Wire

Are you ready to roll up your sleeves and get to work? We’ve heard a main goal for you this year is growing your market share, but fair warning, it’s not going to happen without some serious intentionality and strategizing. At HousingWire Annual this year, Jon Lyons , executive vice president of marketing at Class Valuation , is joining our speaker line-up.

Marketing 384
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Unconventional mortgage loans: Help for 1099 clients and investors

Inman

For agents, sharing these programs with those who would not normally qualify for a traditional conventional loan can be a huge lead generator for their business for many years to come.

Clients 148
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FHA or conventional? After LLPA tweaks, the calculus changes for some

Housing Wire

The Federal Housing Finance Agency (FHFA) officially implemented an updated pricing framework for Loan-Level Price Adjustments (LLPAs) in May to improve homeownership prospects for first-time homebuyers with lower income and weaker credit scores. It’s a simple goal, but as is often the case in U.S. housing policy, it is being executed in a very complicated manner.

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40 ways to generate leads that work right now

Inman

Leads are the lifeblood of any successful real estate business. Here are 40 ways to generate leads that are working right now from Jimmy Burgess. Choose a few, and get started today.

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AMC Fee Impact on Appraisal Fee

Appraiserblogs

While the borrower was charged $695 for the appraisal, the appraiser was only paid $301. The AMC fee was $394. We often hear complaints from GSEs and lenders that appraisal fees are too high, hence the push for modernization. Yet they fail to acknowledge that this is due to an overly bloated middleman – the appraisal management company (AMC). As a consumer, you should be aware of the potential for being fleeced on appraisal fees.

Appraisal 135
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Unleash the power of growth: Lead generation secrets revealed

Inman

Watch the latest Inman Access classes to learn from industry experts on how to elevate your lead gen and conversion, along with what the future of proptech will mean for the real estate industry.

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Private Residential Construction Spending Rises in April

Eyes on Housing

Private residential construction spending inched up 0.5% in April, as spending on multifamily homes increased 0.6%. Private residential construction spending increased for the first time since June 2022 amid elevated mortgage interest rates. However, it is still 9.2% lower compared to a year ago. The total construction monthly increase is largely attributed to more spending on multifamily construction, which rose.

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82% of Americans favor upzoning as fix for skyrocketing housing costs

Inman

Zillow's latest housing survey revealed overwhelming support for accessory dwelling units, duplexes, triplexes and other dense-housing complexes as housing costs have doubled from pre-pandemic levels.

Marketing 148
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NAR Applauds White House Task Force for Changes to Address Appraisal Bias

National Association of Realtors

The White House's Property Appraisal and Valuation Equity (PAVE) Task Force has announced significant regulatory actions and changes to address appraisal bias and the home appraisal process.

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Learn the strategies of this self-proclaimed ‘door-knocking champ’

Inman

As community life and face-to-face interactions become more rare, door-knocking as a lead generation and nurturing tool becomes even more powerful. California agent Ernesto Vargas offers his best how-to advice for developing a door-knocking habit.

Tools 148
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Finance Friday: Why I Spent $100K+ on My Four-Legged Friend

BiggerPockets

Pet insurance probably isn’t a top priority for you right now. Your budget might have health, car, and home insurance, but pet insurance? Is it really worth the cost?

Finance 74
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Barbara Corcoran fears ‘bloodbath’ as bigwigs warn of real estate crash

Inman

In the past week, a growing chorus of public figures — from Elon Musk and Ross Perot Jr. to Barbara Corcoran and Dave Burt — have escalated their rhetoric around a looming "real estate recession.

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Investing in a Fourplex: Pros, Cons, & Tips For Investors

BiggerPockets

A fourplex may be a good place to start if you're considering testing the waters as a residential real estate investor. We'll explain everything you need to know.

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4 big takeaways from Inman’s first-ever property technology survey

Inman

Tech stacks can be a challenge and the cost of keeping up with new technology can be a burden, RAMUS Real Estate broker-owner Erica Ramus writes in response to our inaugural proptech poll.

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Shane Bronson Featured in the South Florida Business Journal

Lamacchia Realty

The South Florida Business Journal recently featured Shane Bronson of Lamacchia Realty in their People On The Move section. The feature highlights Shane’s recent promotion to the Regional Vice President for Florida. To check out the entire feature, click here , or on the picture to the right! Additional Resources RISMedia Publishes Article on New Regional Vice President of Florida May 16, 2023 Read More » Shane Bronson Promoted to Regional Vice President – Florida May 12, 2023 Read

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Investment activity tallies record fall as purchases tumble 49% in Q1

Inman

Overall home purchases dropped 41%, suggesting investors have pulled back from the market more than consumers during a period of high rates and volatile home prices, according to Redfin.

Investing 147
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8 Factors to Consider When Changing Schools

Lamacchia Realty

8 FACTORS TO CONSIDER WHEN CHANGING SCHOOLS Now that you’ve mastered selling your house with kids at home , it’s time to move, which will involve changing schools and preparing for your family’s next chapter. For homebuyers with children, moving to the right school system is major component in deciding where to move. Education is perhaps one of the most influential factors of a child’s development and it’s important to research the school systems in each of the towns or cities you are considerin

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After a year of hunting, JLo and Ben Affleck close on $61M mansion

Inman

They may have fame and money, but celebrities have to go through the painful process of house hunting just like the rest of us, Bennifer's homebuying journey shows.

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RealTrends Highlights Lamacchia Realty’s Growth in 2023

Lamacchia Realty

Lamacchia Realty was mentioned in the newest article from Real Trends! The article discussed some of the brokerages who took home the GameChanger Award in 2023, highlighting how rapidly each is growing, despite the unique real estate market. To read the whole article, click here , or on the picture to the right. Additional Resources Shane Bronson Featured in the South Florida Business Journal June 1, 2023 Read More » RISMedia Publishes Article on New Regional Vice President of Florida May 16, 2

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New agent on the team? Here’s how to make an impression

Inman

Whether you're a brand-new agent or a veteran who's shifting gears, Livian's Erin McCormick Torres shares how to hit the ground running when you join a new team.

Agents 148
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Types of Home Appraisals: Sales Comparison vs. Cost Comparison Approach

Kairos Appraisal Services

Real estate appraisers use one of three methods: the sales comparison approach, the cost comparison approach, and the income approach. Sales comparison and cost comparison are the two most common methods. Below is an explanation of each, how they differ, and which types of home appraisals each one is most appropriate for. What Is the… The post Types of Home Appraisals: Sales Comparison vs.

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Ready to blow up your team? 5 tactics to turn it around

Inman

Feeling the pressure and frustration of the market? Thinking about blowing it all up? It's time to take a hard look at your organization, and the way you do business, so that you can flourish in today's market, Craig Reger writes.

Business 146
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“This Is The Hardest Property Insurance Market Ever”—What’s Forcing Carriers To Pull Out In Droves?

BiggerPockets

The property insurance market is the toughest yet. How can you navigate it as an investor?

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Zillow and Opendoor expand partnership to 11 new markets

Inman

The former rivals are now jointly providing cash offers to consumers in a total of 16 markets, most of them spread out across the Sunbelt.

Marketing 148
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Will Jump in U.S. Mortgage Interests Rates Weaken Homebuyer Demand?

Buys Brokers Only LLC

The average rate in the United States for the 30-year, fixed-rate mortgage rose nearly a half point for the week ending June 1, 2023, according to Freddie Mac's weekly Primary Mortgage Market Survey (PMMS).