Mon.Jun 12, 2023

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Nearly 90% of recent mortgages originations were purchase loans

Housing Wire

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. Last month, purchase locks accounted for 88% of the market mix, marking a record high.

Mortgage 421
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OKC brokerage leverages its reputation to lure two teams

Real Estate News

Rob Allen, CEO of Sage Sotheby's Realty, says a slower market has agents wondering if they're at the right brokerage — but he doesn't sign just anyone.

Brokerage 206
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HomeZada rolls out AI-powered chat assistant for homeowners

Housing Wire

HomeZada , a cloud-based platform for digital home management, announced on Monday that it has added Zada, an AI chat assistant, to the suite of apps on its platform. The goal of Zada Home AI Assistant is to assist with the challenges homeowners face when trying to finding answers on remodeling projects, product comparisons, and maintenance and repair inquiries by offering a secure platform that allows users to engage in interactive, two-way conversations.

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There are fewer millionaires — but don’t blame it on real estate

Real Estate News

A World Wealth Report found that the number of millionaires fell by 800,000 in one year, but real estate has been a fairly resilient asset.

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Fannie Mae re-releases 2022 DFAST after errors found in model

Housing Wire

In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, Fannie Mae has released a new version of its 2022 Stress Test Disclosure, which reflects two hypothetical economic scenarios, including a “severely adverse” scenario. The report was initially released in August 2022, but Fannie Mae announced in November that it had made a “recent identification of errors in an underlying model.

Valuation 384
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Households’ Real Estate Asset Value Falls for Third Consecutive Quarter

Eyes on Housing

The first quarter of 2023 release of the Z.1 Financial Accounts of the United States shows for a third consecutive quarter the value of households’ real estate assets contracted. The combination of economic uncertainty and declining home prices has played a role over the past year in decreasing the value of households’ real estate assets. The level of households’ real.

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Dazzled by Wizardry, Federal Mortgage Regulators Ignore Zillow Debacle

Appraiserblogs

This rulemaking is one more sign that federal bureaucrats are all in on a whacky plan to use technical wizardry to tease out the value of individual properties across the country… Secretary of Defense Robert McNamara was a committed technocrat. Under his direction, a team of policy advisors descended into the Pentagon’s cavernous basement in 1967. They fed punch cards into the basement’s IBM mainframe computers with everything that could be quantified about the Vietnam War.

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Get a taste of 10 outdoor kitchen trends for spring

Inman

The best outdoor kitchens "work" just like their indoor counterparts. For decades, architects designed the ‘kitchen triangle’ — assuring an easy reach between sink, refrigerator, and range. Today, the best outdoor kitchens follow the same formula.

Design 155
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Company owner discusses his path to real estate

Valuation Review

Valuation Review spoke with the regional owner of EXIT Mid-Atlantic who works with and supports all of the EXIT real estate franchises in the Mid-Atlantic territory that includes the states of Maryland, Delaware, West Virginia, Pennsylvania and the District of Columbia. & He shared many facets of the business, including success tips that have afforded him the luxury of never having to lay off an employee.

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Meade High School, Kelly Moss and the rise of fake real estate listings

Inman

Two fake Zillow listings went viral at the end of May — one a high school senior prank and the other resulted in buyers losing thousands. Here's how to save clients from online scammers.

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How GoFormz Can Help You Build a Safety Culture

GoForrmz

Improving safety across industries with digital forms Providing a safe work environment is a top priority, no matter the industry. Whether it’s on-site hazards or office safety, it’s important to have clear safety practices for everyone. This plays a major role in anticipating accidents, being prepared, minimizing response times, and much more. That’s why GoFormz offers a solution that can significantly improve safety culture across all industries.

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EXCLUSIVE: Get ready for Sherry Chris’ exit interview with Access

Inman

RealScout President Andrew Flachner will sit down with Sherry Chris, former CEO of Anywhere Expansion Brands, to discuss her extraordinary career. Submit your questions for Chris today.

Brokerage 154
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Elon Musk Says Home Prices Are Going To Fall—Is The World’s Richest Person Right?

BiggerPockets

That’s what Tesla and SpaceX founder Elon Musk tweeted last week in response to a stream of tweets from venture capitalist David Sacks.

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‘Overachiever’ Dana Cadena preaches the power of the calendar

Inman

Leader of Overachiever Central, Dana Cadena has helped several agents become seven-figure-producing mega-agents, she shared ahead of her appearance at Inman Connect Las Vegas.

Agents 148
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How I Make $1 Million in Annual Cash Flow After Less Than 10 Years of Investing

BiggerPockets

You can be wildly successful in real estate and do it in a relatively short amount of time. Read this story about making $1 million annually in less than 10 years.

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Real Brokerage CTO: AI ‘extremely useless without proprietary data’

Inman

The Real Brokerage has already taught ChatGPT how to help agents. But failing to use the same software or work with the same data results in few opportunities, Chief Technology Officer Pritesh Damani told Inman.

Brokerage 147
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Fun Things to Do in New England This Summer

Lamacchia Realty

FUN THINGS TO DO IN NEW ENGLAND THIS SUMMER Residents and tourists alike believe that New England is one of the best places to be. New Englanders are fortunate enough to experience the beauty of all four seasons. However, there is an undeniable charm and excitement that accompanies the arrival of summer in this area. New Englanders eagerly look forward to this time of year when the sun shines brightly, and they can engage in various enjoyable activities.

Realty 72
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Lesson Learned: Get comfortable with silence

Inman

Central Florida agent Anne-Marie Wurzel brings her background in advertising and copywriting to bear on the practice of real estate, including marketing experience from more than 300 properties and management of her agency's largest client, a national REIT.

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CubiCasa continues its digital floor plan enhancements

Valuation Review

CubiCasa recently announced the launch of its new nationwide CubiCasa Preferred Photographer Program. This is designed to drive special benefits and business referrals to participating real estate photographers.

Design 60
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How many Instagram Stories should I do a day?

Inman

Instagram Stories operate differently than other features like Posts and Reels. Sue "Pinky" Benson helps you learn how to make them work for your real estate business.

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Texas appraisal bill heads to Senate

Valuation Review

The Texas House of Representatives passed a bill that would ensure the accuracy of repair estimates within state auto policies. House Bill 1437 (HB1437), which would amend Texas’ insurance code, will now head to the Senate for a final vote, according to the Repairer Driven News. Read on to learn more about this legislation.

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Maximize outreach and results: Circle prospecting strategies

Inman

Join Anthony Marguleas as he discusses the concept of circle prospecting and how it can revolutionize your lead generation and outreach strategies for boosted business.

Business 143
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NAR: Home price gains revealed in metro markets

Valuation Review

Nearly seven out of 10 metro markets registered home price gains in the first quarter as 30-year fixed mortgage rates fluctuated between 6.1 percent and 6.7 percent, according to the National Association of REALTORS latest quarterly report. Seven percent of the 221 tracked metro areas registered double-digit price increases over the same period, down from 18 percent in the fourth quarter of 2022.

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Low inventory propped up price growth this spring

Inman

U.S. home values grew 1.4 percent between April and May of 2023 — slower than the past two springs but faster than both the 2018 and 2019 spring markets.

Inventory 139
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Think Twice: Here’s When to Make (and Not Make) Gut Decisions

BiggerPockets

We all use our gut, but some use it more than they should, and others use it less. This article is about finding a solid middle ground.

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Offerpad executes 1-for-15 reverse stock split to head off delisting

Inman

The pioneering iBuyer hopes to bring its share price back above the New York Stock Exchange's $1 minimum threshold.

Marketing 148
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What’s the Best Tool for Doing Market Analysis in Real Estate?

Mashvisor

Conducting research and market analysis in real estate is essential to becoming a successful investor, helping you find the right investment.

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Here are 5 reasons we won’t see a housing market crash this year

Inman

According to Splitero CEO Michael Gifford, we’re still in an affordability crisis and unlikely to see a complete housing market tumble in 2023.

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AI Board of Directors adopts 45-day notice item during May meeting

Valuation Review

The Appraisal Institute Board of Directors voted to adopt one 45-Day Notice item during its May 11-12 meeting in Chicago.

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How to Buy a House With Bad Credit

BiggerPockets

Investors may wonder how to buy a house with bad credit. Follow these steps to secure your next investment property.

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Is a recession looming in Canada?

Mortgagebroker News

Manulife's Frances Donald says an economic slowdown is likely on the way

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How to Build a Million Dollar Rental Portfolio with Little Time OR Money

BiggerPockets

If you want to build a rental portfolio, you need to know how to scale the right way.

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Interest rates likely to remain higher for longer: BoC deputy governor

Mortgagebroker News

Persistent economic strength led to latest rate increase, Beaudry says

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We Have Some Empty Seats on the Bus

Town & Country Residential Appraisals

Today, we want to share some exciting news with our readers. If you're a certified appraiser seeking a dynamic and rewarding opportunity, look no further than Town & Country Residential Appraisals, the #1 Voted Best Real Estate Appraisal Office in the County! Our appraisal office is actively seeking an individual to fill the position of Staff Appraiser.