Thu.Mar 23, 2023

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FHFA announces timeline to sunset FICO Classic credit model

Housing Wire

The Federal Housing Finance Agency (FHFA) announced proposed implementation timelines for the use of the FICO 10T and the VantageScore 4.0 credit score models by Fannie Mae and Freddie Mac. In concert, the government sponsored enterprises also plans to transition to two, rather than three, credit reports from the national consumer reporting agencies within a year.

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Zillow dominates the portals, but Homes.com gains ground

Real Estate News

A new report found that most portals lost traffic and market share over the past year, but a few companies improved or firmed up their positions.

Marketing 294
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With mortgage rates dropping, the conforming and jumbo loan spread narrows

Housing Wire

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday. The bank crisis has also reduced the spread between conforming and jumbo loan rates.

Mortgage 427
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Mortgage interest rates fall for a second week

Real Estate News

Rates dropped to 6.42% this week, down significantly from 6.73% just two weeks ago, which could give buyers a window to act.

Mortgage 225
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New home sales climb in February for the third straight month

Housing Wire

New home sales continued to rise in February, jumping 1.1% from January to a seasonally adjusted annual pace of 640,000 homes, according to data published on Thursday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). On a year-over-year basis, however, new home sales are still down 19.0%. “New home sales increased in February for the third straight month, in a sign that the market may be stabilizing,” Kelly Mangold, the principal of RCLCO Real Estate Co

Buyers 407
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At Bespoke Real Estate, racial slurs were part of the job, new suit claims

Inman

Jarret Willis, a Black agent who worked at the Hamptons-based luxury brokerage, was smeared by epithets, including "Jafar" in reference to the "Aladdin" Disney movie, a white colleague claims.

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Take the 7-day success challenge for sustainable growth

Inman

About This Webinar In the face of today’s uncertainty, it’s more important than ever for real estate professionals to ignite, sustain, and nourish a success mindset. But the traditional, linear metrics and production-based KPIs don’t work for everyone. Instead, you can fine-tune your capacity to execute when you focus on a positive psychological approach.

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White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. Led by U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and White House Domestic Policy Advisor Ambassador Susan Rice, the PAVE task force revealed its action plan one year ago and claims that its efforts have amounted to “critical progress” in its effo

Appraisal 383
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Unpack the spring housing market and how tech will impact real estate

Inman

This week watch Redfin's Daryl Fairweather discuss the shifting housing market, along with Ryan Serhant's take on tech trends and how to utilize them to amplify your business.

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Brokers, here’s how to market yourself as a non-QM broker

Housing Wire

With current market conditions having a negative impact on traditional agency loans, expanding into non-QM products can allow brokers to grow their business and reach a wider borrower pool. But what’s the best way for brokers to market themselves to reach that wider, non-QM audience? According to Hitz Mistry, chief marketing officer at Acra Lending , brokers offering non-QM products should market themselves as solution providers and choose the right lender partner to help them achieve their goal

Marketing 336
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Lean times require you to lean in. Here’s how

Inman

Lean into focused activities, lean into lead generation, lean into holding two appointments a week, lean into purposeful conversations and, of course, lean into the 200 percent life.

Brokerage 155
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FAQ #12: How Will the Appraisal Affect My Property Taxes?

Riverfront Appraisals

Legal Disclaimer stuff: I’m an appraiser. Not a tax attorney. If you need legal advice, don’t come to me. Go to your attorney. Good. That’s all. I was having coffee a few weeks ago with a friend, and we were exchanging various work stories when we found ourselves talking about complaints from homeowners. I said […] The post FAQ #12: How Will the Appraisal Affect My Property Taxes?

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Broker Spotlight: Katia and Steve Bailey, The Agency

Inman

Learn how these Canadian brokers built their businesses with grit and determination and find out what lessons they're passing on to their agents.

Agents 172
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AQB Initial Fair Housing Course

Appraiserblogs

Mandatory completion of an initial fair housing course lasting 7 hours by January 1st 2025, as well as 4 additional hours every renewal cycle thereafter. Recently, the Appraiser Qualifications Board (AQB) has proposed new requirements for those looking to become an appraiser or renew their certification/license. These include mandatory completion of an initial fair housing course lasting seven hours by January 1st 2025, as well as four additional hours every renewal cycle thereafter if this bec

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7 ways to motivate your agents during a slow market

Inman

As agents adjust to changing realities, brokers and team leaders should make it clear that opportunities for growth don’t go away just because the market is in a transition.

Agents 155
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Tampa Startup Builds Area’s First 3D Home

Empire Appraisal Group

NEWS & MEDIA Credit: Icon Source: Tampa Startup Builds Area’s First 3D Home | Florida Realtors Tampa Startup Builds Area’s First 3D Home Shamrock Road in Tampa will have a first for the area: a 3BR, 2-bath 3-D printed home listed for $599K. Robotic “hands” will layer concrete to make the walls. TAMPA, Fla. – The Tampa startup Click, Print, Home is selling its first 3D-printed home – a three-bedroom, two-bathroom dwelling on Shamrock Road in Tampa with an asking price of $599,300.

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Put yourself out there! How to develop a media relations strategy

Inman

Growing your content marketing plan means adding leverage by reaching out to the media. Part four of this five-part series shares what to write and how to craft a media outreach strategy.

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50 Most Expensive Towns in Massachusetts

Lamacchia Realty

50 MOST EXPENSIVE TOWNS IN MASSACHUSETTS As we saw in our 2022 Year in Review Housing Report , home prices continue to rise across Massachusetts. The average selling price for a home hit $614,655 by year’s end, an increase of 8.7% compared to 2021, and the highest monthly average selling price this year. Here is a list of the most expensive towns in Massachusetts in 2022: 1.

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Sell your city when you serve and support your community

Inman

Market yourself when you serve as an ambassador for your community and provide information and expertise to both newcomers and current residents.

Marketing 155
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Warehouse lenders facing fallout from industry woes

Housing Wire

The ongoing tumult in the banking industry brought to light by the recent failures of Silicon Valley Bank and Signature Bank — the second and third largest bank failures in U.S. history, respectively — also threatens liquidity channels for the independent mortgage banks (IMBs). Two banks that rank among the nation’s top warehouse lenders were recently singled out by Moody’s Investor Service for potential ratings downgrades due, in part, to their reliance on “confidence-sensitive uninsured deposi

Lending 417
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Better property descriptions can help you sell more homes this spring

Inman

It's time to implement superior copywriting techniques in the real estate space to help connect with buyers logically and emotionally.

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Are Banking Failures Going To Cause Another 2008-Like Crash?

BiggerPockets

It goes without saying that investors of all stripes have been spooked by the recent collapse of Silicon Valley Bank and Signature Bank, as well as the Swiss National Bank facilitating […]

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Rockefeller descendants offload historic Philly estate for $24M

Inman

Dating to the late 1700s, the estate known as Kirkwood Farm features five historic farmhouses, two barns and a springhouse.

Realty 167
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Explore the Benefits of Residential Property Investments

Mashvisor

Residential property investments can be a rewarding form of investment because they provide investors with passive income for years to come.

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Do these 7 things to transform your life — and business — forever

Inman

The business of your dreams will be the result of the actions you take. Choose to do things today that your future self will thank you for.

Business 155
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BC commercial lenders combining higher budgets with tighter underwriting standards: report

Mortgagebroker News

Lending institutions remain bullish – but still cautious – about the province's commercial outlook

Lending 68
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Redfin issues sustainability report in wake of ‘digital redlining’ lawsuit

Inman

In its inaugural sustainability report on Wednesday, Redfin shared its efforts to improve housing access, equity and sustainability alongside corporate diversity and inclusion.

Brokerage 132
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What does the US Fed's latest rate hike mean for Canada?

Mortgagebroker News

Sustained financial volatility will continue to influence policy on both sides of the border

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Low housing inventory a win for homebuilders

Housing Wire

If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 million active listings, and these active listings would be direct competition for the builders. New homes are traditionally more expensive than existing homes, which don’t have all the bells and whistles.

Inventory 545
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How Much Do Real Estate Agents Make?

BiggerPockets

Real estate agent earnings vary widely based on numerous factors, including experience, location, and niche. Some agents struggle to get by while others earn a comfortable living.

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Exec on how deeper knowledge will serve a broker well

Mortgagebroker News

"Get to know your client's business so that you can present that information to the lender in a clear and concise way.

Clients 61
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10 Steps To Starting Your Own Commercial Real Estate Appraisal Business

Valcre

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RBC sounds alarm on rental housing supply

Mortgagebroker News

Canada's rental housing shortage will likely quadruple in three years, new report says

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The BIG Economic Implications of US Bank Failures

BiggerPockets

Bank failures were a thing of the past—until a couple of weeks ago.