Wed.Aug 16, 2023

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Mortgage applications fell another 0.8% last week

Housing Wire

Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. Last week, treasury yields and mortgage rates remained elevated following the release of a strong CPI report in July.

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A Weird Housing Market: High Prices & Depressed Volume

Sacramento Appraisal Blog

Weird. That’s a good way to describe today’s housing market. On one hand prices are still pretty high, but volume has fallen off a cliff. This week I was talking with a broker who has been in business since the 1970s, and he told me he’s never seen a market like today. Exactly. This is […] The post A Weird Housing Market: High Prices & Depressed Volume first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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To power through the back half of 2023, focus on what you can control

Housing Wire

HousingWire recently spoke with Mike Darne, vice president of marketing at CreditXpert , about industry performance in the first half of 2023 and how lenders can work with borrowers to improve their credit. HousingWire: 2023 has been rough for mortgage lending with mortgage applications down around 60%, what is CreditXpert seeing from a demand side when it comes to credit inquiries?

Inventory 370
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Zillow scores victory in REX case ahead of trial

Real Estate News

A judge has ruled an antitrust claim was without merit, a key component in a federal case involving how portals display non-MLS real estate listings.

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Compass expands NorCal operations

Housing Wire

Monterey Bay Properties is joining Compass , a move that will allow the brokerage giant to expand its Northern California operations, the company announced Wednesday. Founded in 1980, Santa Cruz-based Monterey Bay Properties includes around 40 agents. For Compass, the merger brings its total number of real estate professionals in the Lake Tahoe, Wine Country, East Bay, San Francisco, Silicon Valley and the Monterey Peninsula areas to more than 5,000.

Brokerage 370
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Industry unites to help agents shut out by cyberattack

Real Estate News

CRMLS and other organizations are offering temporary access and support to agents affected by the Rapattoni shutdown, now in its second week.

Agents 224

More Trending

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Builder confidence slides as mortgage rates climb back to 7%

Real Estate News

After seven consecutive months of improving confidence, homebuilders were feeling less optimistic in August.

Mortgage 194
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Housing starts inch up in July as builders scramble to meet demand

Inman

Housing starts increased 3.9 percent between June and July to a seasonally adjusted annual rate of 1.45 million units, according to data released Tuesday by the U.S. Census Bureau.

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Appraisers Pressured to Inflate Values Based on Race

Appraiserblogs

The real estate appraisal industry has long been subject to pressure from various sources, such as lenders, borrowers, and agents. In the past, this pressure often came in the form of withholding business if appraisers refused to inflate values, or ignore property deficiencies. Nowadays, it appears that government efforts, aimed at curbing discrimination, are actually leading to increased pressure on appraisers to inflate values.

Appraisal 107
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REX antitrust claims against NAR and Zillow dismissed with prejudice

Inman

The case is currently set for trial on Sept. 18, but the National Association of Realtors is no longer a defendant, according to a court order. Some claims against Zillow remain.

Realtors 148
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How Technology Improves the Home Appraisal Process

Kairos Appraisal Services

Buying a home today looks very different than it did in previous decades. From virtual house tours to applying for a mortgage online, the real estate industry has embraced new technology, weaving it into many of its processes. The home appraisal industry is beginning to use more technology, too. If you are buying or selling… The post How Technology Improves the Home Appraisal Process appeared first on Kairos.

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Sexual harassment claims against NAR may not be settled just yet

Inman

Last week at Connect, Brad Inman dropped the biggest bombshell of the conference when he told a rapt audience about a text message he'd received involving The New York Times, Bernice Ross writes.

Brokerage 148
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There Are Just Way Too Many Real Estate Agents Right Now—And It’s Hurting the Industry

BiggerPockets

With 1.6 million Realtors but only 650,000 homes on the market, you might wonder how agents could possibly succeed, and that's precisely the dilemma.

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Gary Keller cites commission probe in pep talk touting agent happiness

Inman

"I'm happy. Screw 'em," the Keller Williams co-founder told agents Tuesday at his Mega Agent Camp event, referring to antitrust suits involving commissions in which the brokerage is named.

Agents 148
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Inc. 5000 Ranks Lamacchia Realty for 12th Year in a Row

Lamacchia Realty

For the twelfth year in a row, Lamacchia Realty has ranked on the Inc. 5000 list of the fastest-growing private companies in America. Lamacchia ranked 3,393 on the prestigious list of rapidly growing private companies. The list represents a unique look at America’s most successful independent small businesses. Well-known names such as Intuit, Zappos, Under Armour, Microsoft, and Patagonia first gained national exposure as honorees in the Inc. 5000. ”The staff and agents at this company co

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Texas, Florida buyers are trading civil rights for affordability: Redfin

Inman

Residents in Florida and Texas would rather live in states with abortion care and LGBTQ rights, but affordability worries force them to stay in their current states, according to a new Redfin survey.

Buyers 148
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Are Home Owners Liable for Injuries to Home Buyers?

Hank Miller Team

Are home owners liable for injuries to home buyers? Depends - but first - I am not a lawyer, below is general information on this topic. This is not legal advice and every situation is different. Remember, a ham sandwich can be sued. Under Georgia law, property owners have a duty to exercise ordinary care in maintaining their property in a safe condition for those who are lawfully on their premises.

Buyers 52
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Mortgage rate surpasses 7% in new 2023 high as demand falls again

Inman

Even after adjusting for seasonal factors, applications for purchase loans fell for the fifth-straight week as mixed inflation data raised doubts that Fed will ease, pushing mortgage rates to new highs.

Mortgage 148
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Paving the way for female professionals in the mortgage sector

Mortgagebroker News

The outstanding story of Tracy Valko and her meteoric rise as a woman of influence in the mortgage sector

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Mind over market: Maintain momentum with a growth mindset

Inman

Your mindset can be a game-changer or a deal-breaker, coaches Melanie Klein and Emily Bossert write. Here's how to put a positive, growth-oriented mindset to work for your business.

Marketing 148
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How are high rates continuing to impact Canada's housing market?

Mortgagebroker News

Executive on the 'logjam' impact of steeper borrowing costs

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CubiCasa digital floor plans now available to 50,000 RE/MAX agents

Inman

The partnership will allow RE/MAX real estate agents full access to digital floor plans created by CubiCasa now that the company is an "Approved Supplier" on the brokerage's online Marketplace.

Agents 147
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DataDigest: Goldilocks and the big IMBs

Housing Wire

The biggest nonbank mortgage lenders in America saw improved performance in both origination and servicing segments in the second quarter, capitalizing on the continued mortgage pullback from banks. As we’ve reported, that trend looks sticky, which could help change the fortunes of top independent mortgage banks sooner than expected. In this week’s edition of DataDigest, we look at the landscape for top mortgage lenders, their strategies and when the real opportunities might begin.

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In crucial Q2, real estate separated wheat from the chaff: Intel analysis

Inman

The biggest publicly traded brokerages and tech companies significantly slashed losses in the second quarter, restoring investor confidence, according to an exclusive Intel analysis of Q2 earnings data.

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Income required to purchase a home rises again across major markets

Mortgagebroker News

The housing affordability crisis is showing little sign of easing

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A stock analyst reveals the 2 big winners from Q2 earnings season

Inman

Among the publicly traded real estate enterprises to release second-quarter earnings reports this month, two companies stood out for John Campbell, a managing director at analytics firm Stephens.

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Canada housing starts plummet in July

Mortgagebroker News

The annual pace of starts posted a huge monthly decrease

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5 takeaways from ‘The Great Door Knocking Debate’ at ICLV

Inman

My months-long debate with self-proclaimed, door-knocking champion Ernesto Vargas culminated at ICLV in “The great door-knocking debate.” Here are our top five takeaways.

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Empty office space expected to increase as hybrid work models continue

Mortgagebroker News

Levels have already surged since the onset of the COVID-19 pandemic

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7 ‘connect’-ions I made at Inman Connect Las Vegas

Inman

If it’s been a while since you’ve been to a real estate conference, broker Troy Palmquist says it’s time you start making travel plans.

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How Two Soccer Moms Went from Small Multifamily to $11M Real Estate Deals

BiggerPockets

Want to invest in multimillion-dollar multifamily deals?

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How do you know when it’s time to part ways? Pulse

Inman

Think it's time to fire that client or switch brokerages? Tell us how you know when you're ready to move on from a bad professional fit.

Brokerage 147
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The cheapest cities in Ontario to get a mortgage

Mortgagebroker News

Here is your guide to the cheapest cities in Ontario to purchase a property.

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6 a-ha moments from Inman Connect that’ll stick with you

Inman

Trainer and sales counselor Rachael Hite shares her takeaways from ICLV.

Marketing 148