Fri.Sep 22, 2023

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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. Pending-home sales fell 13% from a year ago for the four weeks ending Sept. 17, according to a new report from Redfin. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. This is pushing many prospective homebuyers to the sidelines until the market becomes healthier.

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MV Realty files for bankruptcy amid legal turmoil

Real Estate News

The brokerage, which offered homeowners cash in exchange for a 40-year right-to-list agreement, has been bogged down by lawsuits and investigations.

Legal 235
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Fannie Mae’s chief economist on housing market outlook

Housing Wire

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. While the central bank left the benchmark rate unchanged in the target range of 5.25%-5.5% this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts.

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Industry Decoded: It's a buy-low market

Real Estate News

Companies are built in down markets, and savvy business leaders should take advantage of deals on tech, services and more — right now.

Marketing 240
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CFPB aims to remove medical bills from credit reports

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this week announced that it intends to remove medical bills from the credit reports of U.S. consumers. The policy, announced simultaneously by the Bureau online as well as during a press call with reporters led by Vice President Kamala Harris, is designed to “help families financially recover from medical crises, stop debt collectors from coercing people into paying bills they may not even owe and ensure that creditors are not relying on data that

Design 441
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NAR’s 'concrete actions' include outside counsel, task force

Real Estate News

An email sent by CEO Bob Goldberg to staff on Thursday promises an independent assessment of company policies and practices.

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Local broker marketplaces: Insights from a Romanian Realtor

Inman

U.S. local broker marketplaces are the gold standard and will continue to push Romania in the right direction so we can create an equitable real estate market that protects consumers and small businesses across the country, writes Romanian Realtor Dan Negulescu.

Realtors 181
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Opinion: If change was easy, everyone would do it

Housing Wire

I don’t think many people would disagree that 2023 has been a year full of challenging landscapes and uneasy terrain for many real estate brokerages. Many brokers and agents expected the summer housing market to help save the year. But for a lot of local markets, that summer sun didn’t shine so brightly. As we approach fall and winter, some companies are having to make some hard choices and painful changes – that is, of course, the companies that are still in business.

Brokerage 401
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Age of Aquarius is here as astrology boom hits the real estate industry

Inman

As younger homebuyers revive an age-old fascination with astrology in the aftermath of the pandemic, agents, designers and astrologers told Inman the stars are aligned for a resurgence.

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Bringing the real estate transaction to the end zone

Housing Wire

Terrence Murphy From the end zone to luxury open houses, Terrence Murphy is proof that an entrepreneurial spirit is the key to success in nearly everything. Murphy is not only a legendary football player, he is also a top-producing real estate agent, investor and broker-owner. He leads TM5 Properties , powered by eXp Realty, which has won the Inc. 5000 several times.

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9 fall-friendly social media ideas to spice up your marketing

Inman

Coach and author Darryl Davis shows you how to get more engagement and create conversations with this autumnal social media marketing plan that's ideal for the season.

Marketing 185
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NAR staffers demand resignation of Bob Goldberg, other leaders

Housing Wire

The National Association of Realtors continues to face demands for change from staffers and members in the wake of the sexual harassment allegations brought forth in the New York Times exposé. On Thursday, the trade group informed members that it was bringing in a third-party human resources reporting system and a third-party independent law firm to conduct a review of the organization.

Law 398
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How this social media innovator leads with authenticity

Inman

Chastin Miles is a Dallas real estate mogul and social media force to be reckoned with. In his latest Snapshot profile, Brandon Doyle learns Miles' best tips for putting yourself out there online.

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Christie’s will launch a new luxury Austin brokerage this Fall

Housing Wire

Christie’s International Real Estate is poised to enter the Austin market this fall as it launches a new affiliate. The brokerage firm will be owned and operated by Jerry Mooty Jr., with backing from the Jerry Jones family, owners of the Dallas Cowboys Football Club. Mooty, who owns @properties Christie’s International Real Estate offices in Dallas and Frisco, is also Jones’ nephew.

Brokerage 395
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Employment Situation in August: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 33 states and the District of Columbia in August compared to the previous month, while 17 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 187,000 in August, following a gain of 157,000 jobs in July. On a month-over-month basis, employment data was strong in California, which.

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CoreLogic mobile MLS-Touch app available to 1M real estate agents

Inman

MLS-Touch provides connections to four home showing solutions driven by the data of each MLS in which it's active. It can be deployed by MLSs that don't use Matrix, CoreLogic’s listing solution.

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Mortgage Application Volume Nearing Historic Low

Appraiserblogs

Appraisers, I’m almost reluctant to distribute this essay, but the reality is what it is. Per the Mortgage Bankers Association (MBA), the loan application volume is at another low point in our history. The article in Mortgage News Daily titled “Mortgage Application Volume at Lowest Levels Since 1996” in this link provides context. For a related perspective, the article contains a graph, which can be expanded to show mortgage rates and application volume for decades.

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Stop the bombshell lawsuit panic. Ask your broker about commission

Inman

You don't have to figure out everything on your own when it comes to buyer commissions and the bombshell lawsuits, writes broker Teresa Boardman. It's the job of the broker to help individual agents understand and negotiate the terms of their compensation.

Buyers 174
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NAR Member Survey on Appraisal Data Collectors

Appraisal Today

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Here are a few of the many survey results. Survey respondents Sales agents accounted for the largest proportion, with 45% of participants holding this license. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents.

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CrossCountry Mortgage CEO nails profit on $30M Fort Lauderdale pad

Inman

Ronald Leonhardt Jr. purchased the Harbor Beach home for $23 million in 2021. It includes 120 feet of water frontage, a lap pool, a full summer kitchen and docking capabilities for a megayacht.

Mortgage 172
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Now That Grant Cardone is Getting Sued, Here’s How You Can Avoid Walking Into Syndication Other Traps

BiggerPockets

With the latest Grant Cardone lawsuit, it's become more important than ever to vet the syndications you're signing up for. Here's what you need to do.

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Josh Flagg and partners form media company Estate Media

Inman

The real estate media company will aim for coverage that bridges the gap between hard industry-focused outlets and the swath of popular reality TV programs that have hit the industry in recent years.

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Beach Houses vs. Lake Houses: Which Properties Provide Better STR Cash Flow?

BiggerPockets

Waterfront properties come with a premium and produce rock-solid cash flow, but what's the ultimate winner? Beach houses or lake houses?

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Learn why this interior designer’s inspiration is written in the stars

Inman

What if you could fast-forward to an overall sense of your client's priorities and preferences? According to Brooklyn-based interior designer Kerry Barile, astrology allows you to do just that.

Design 161
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Zillow Predicts a 4.9% Rise in Home Prices by Next August—Is That Possible?

BiggerPockets

Zillow is really bullish on housing, but are they right? How much are they projecting prices to grow? And who's in disagreement?

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Corva does a lot of what you already do — but the bones are good: Tech Review

Inman

Corva offers quite a bit for the agent who has had early success and wants to more fully streamline how they operate. It’s a good system for knowing what’s happening when and what should happen next.

Agents 155
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Aires Recognizes Lamacchia Realty for Outstanding Customer Service

Lamacchia Realty

Aires , a global mobility company that focuses on relocation, recognized Lamacchia Realty with an award at the Aires Broker Network Summit in Pittsburgh, Pennsylvania, last week. The Director of Relocation, Sarah Hatch , proudly accepted the Silver Level Award on Lamacchia Realty’s behalf. The award recognizes brokerages that have gone above and beyond in exceeding customer service satisfaction.

Realty 69
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Bombshell, mutiny, mild recession: Catch up with Inman’s Top 5

Inman

With Inman Top 5, you'll find the most essential stories, chosen by our readers. Here are the most-read stores of Sept. 15-21, 2023.

Agents 168
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Protected: September 2023 Home Data Index Market Report

Clear Capital

This content is password protected. To view it please enter your password below: Password: The post Protected: September 2023 Home Data Index Market Report appeared first on ClearCapital.com, Inc.

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As RE/MAX settles, it’s time to re-think buyer-side chats

Inman

This week on The Download: How are you adding value to your buyer-side UVP now that RE/MAX has folded on its part of the bombshell commission lawsuits?

Buyers 144
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What Is a Jumbo Loan: Everything Investors Need To Know

BiggerPockets

Is a jumbo loan a good option for real estate investors? We'll explain what is a jumbo loan and provide some pros and cons for this financing option.

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HousingWire HighLights Lamacchia Realty’s Recent Seekonk Acquisition

Lamacchia Realty

September 22, 2023 – HousingWire has released a new article highlighting Lamacchia Realty’s growth with the recent acquisition of brokerage Keystone Property Group in Seekonk, MA. Lamacchia Realty officially announced the joining of forces between the two brokerages on September 18th, 2023 , spreading even more into Bristol County and southeastern Massachusetts markets.

Realty 66
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The Three Buckets: A Practical Approach to Investing for All Phases of Life

BiggerPockets

Where you are in life makes a big impact on how you invest. Here are the three buckets of investing according to the phase of life you're in.

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New federal measure removes GST on rental housing construction across Canada

Mortgagebroker News

Bill C-56 aims to incentivize the construction of more apartment buildings, student housing, and senior residences