Tue.Mar 28, 2023

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Rocket launches its first credit card to attract buyers, homeowners

Housing Wire

Rocket Companies has rolled out its first credit card in order to attract potential homebuyers and existing homeowners into its ecosystem amid one of the most challenging mortgage markets in decades. Those looking to buy a home can earn 5% back by using the Rocket Visa Signature Card for up to $8,000 that can be used toward closing costs and down payments.

Buyers 401
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You’re Chasing a Dollar… What’s the Dollar Chasing?

The Appraiser Coach

I talked recently in another post about the fact that money is a tool that we use to keep track of value. Money really has no value in and of.

Tools 369
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Home price growth continued to slow to start 2023

Housing Wire

Home prices continued to cool at the start of the year, falling to a 3.8% annual price growth rate in January, according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71 in January. On a month-over-month basis, the U.S. National Index was down 0.5% in January before seasonal adjustment. “2023 began as 2022 had ended, with U.S. home prices falling for the seventh consecutive

Buyers 391
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Sellers are hibernating & the housing market feels broken

Sacramento Appraisal Blog

Sellers are hibernating. It’s been striking to see sellers sitting back so far in 2023, and it’s really starting to create more competition for buyers. Let’s talk about it. Scroll by topic or digest slowly. UPCOMING (PUBLIC) SPEAKING GIGS: 3/28/23 Downtown Regional MLS meeting 4/1/23 NAA Conference in Sacramento 4/13/23 Realtist Meeting 5/4/23 Event with UWL […] The post Sellers are hibernating & the housing market feels broken first appeared on Sacramento Appraisal B

Sellers 217
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Judge green lights amended predatory lending suit against Wells Fargo

Housing Wire

A federal judge in Georgia has given the green light for an amended “predatory lending” lawsuit to proceed against Wells Fargo. The lawsuit was filed under the Fair Housing Act by three counties in Georgia. The counties initially filed the lawsuit in April 2021, claiming that Wells Fargo and some of its related entities engaged in a broad predatory lending scheme that targeted minority residents in Cobb, DeKalb and Fulton counties.

Lending 381
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Consumer Confidence Increased Slightly in March

Eyes on Housing

Consumer confidence rose slightly following two months of declines thanks to the optimism in the short-term outlook. Even though confidence rose in March, consumers are planning to spend less on highly discretionary categories such as concerts and dining. As a result, consumers are planning to spend more on less discretionary categories such as home maintenance and repair.

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Rent peaked in February 2022. Here’s why it’s still driving inflation

Inman

Private indexes show that rent peaked in early 2022. But the impact of the rapid increase in rent could still show up in inflation readings for months, economists told Inman.

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Employment Situation in February: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 44 states and the District of Columbia in February compared to the previous month, while five states lost jobs. Oklahoma remained unchanged. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 311,000 in February, following a gain of 504,000 jobs in January. On a month-over-month basis, employment data was strong.

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Will spring be a bust? 4 decades of housing data tell a complex story

Inman

Past periods of high inflation and high rates — be it in 1979, 1980 or 1990 — have caused the housing market to stall. But they also didn't crush it forever, according to an Inman analysis.

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10 Types of Non-Lending Appraisal Work to Pursue this Year

McKissock

In times like the present when the housing market is slow, you can help your appraisal business thrive by offering additional services beyond mortgage lending appraisals. What are some specific types of non-lending assignments that might be worth adding to your workload this year? As part of our monthly survey series, we asked real estate appraisers, “What type of non-lending appraisal work are you MOST interested in pursuing?

Lending 99
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What to expect as ERA’s Fuel 2023 hits Caesar’s Palace this week

Inman

ERA Real Estate is kicking off its annual Fuel conference in Las Vegas Tuesday through Thursday. Here are the sessions, speakers and events you can't miss this week.

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11 Things Massachusetts Home Buyers Should Know in Spring 2023

Buys Brokers Only LLC

Whether you're a first-time home buyer, moving to Massachusetts , or you last purchased a home several years ago, you will want to educate yourself on the current state of the Massachusetts real estate market.

Buyers 69
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DOJ appeals NAR win in probe of commission, pocket listing rules

Inman

The antitrust enforcer wants a higher court to overturn a ruling that limits its investigation into the Realtor trade group's Participation Rule and Clear Cooperation Policy.

Realtors 152
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Understand the Benefits of Airbnb Dynamic Pricing

Mashvisor

Airbnb dynamic pricing is a great tool for hosts to optimize their revenue and ensure that their listing remains competitive in the marketplace.

Tools 69
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ChatGPT picked favorites from 10 commission objection scripts

Inman

If you’re having trouble figuring out which scripts work best in various situations, take them for a test drive on ChatGPT, writes trainer and author Bernice Ross. See what it says, and ask it to explain why one script is more effective than the others.

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How VWR goes above and beyond for brokers and their clients

Mortgagebroker News

The company's flexible approach is coming to the forefront in a much-changed market

Clients 69
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Fredrik Eklund’s REAL Messenger to go public via Nova Vision SPAC

Inman

The transaction will have a pre-money enterprise value of approximate $150 million at closing, according to an announcement Tuesday. The deal is expected to close in the third quarter of 2023.

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Making $100K in 18 Months with “Misfit” Medium-Term Rentals

BiggerPockets

Over $100,000 from medium-term rentals…in just 18 months?! It’s a pipe dream to many, but it’s reality for today’s guest.

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5 tips for expanding the size of your investment portfolio

Inman

The best way to grow your real estate income is to increase your number of property holdings. But what’s the best way to go about increasing your portfolio, and how do you know if you’re making the right choices?

Investing 152
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FSRA proposes stricter measures to combat rise of mortgage fraud

Mortgagebroker News

The move would have big implications for Ontario agents and brokers

Agents 69
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The Agency launches 3 Canadian offices in March

Inman

The offices across Toronto West, Fort McMurray and Ontario's York region raise The Agency's number of Canadian offices to 16 and its total number of global locations to 79.

Brokerage 157
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Canadian economy braces for impact as banking sector stress intensifies

Mortgagebroker News

FOMC statement raises concerns for Canada's 2023 economic outlook

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Tell us about your best performing piece of content: Pulse

Inman

As you look back at your online and social media platforms, it's time for you to do some bragging: Tell us about your best-performing piece of content.

Agents 152
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'Rising economic uncertainty' facing Canada: RBC

Mortgagebroker News

Despite resilience, headwinds from aggressive rate increases are gathering

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West Coast hit hardest as US home prices cool for 7th-straight month

Inman

Nineteen cities out of 20 tracked by the S&P CoreLogic Case-Schiller Index posted monthly declines in January, with the biggest decreases seen in San Francisco, Seattle and San Diego.

Marketing 152
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CIBC provides insights ahead of government spending plans announcement

Mortgagebroker News

Analysis lays out the economic landscape facing Canada in the months and years ahead

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Revive wins again, takes home 2 ADDY awards

Inman

The awards, called ADDYs, are highly coveted in the advertising and marketing space, and Revive took home a Silver ADDY for its mobile app Revive Home and a Bronze ADDY for its website design and content.

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What is a Bridge Loan & Who Should Get One?

PennyMac

There are many loan types available to homeowners, and each loan has its advantages and disadvantages. One loan you may have heard of is a bridge loan. We’ll walk you through the ins and outs of bridge loans, how they work, the pros and cons, and who should consider this type of loan. What Is a Bridge Loan? A bridge loan is a short-term loan typically used to “bridge” the gap between buying your new home and selling your old one.

Finance 36
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10 tips to make your first client event a roaring success

Inman

When done well, events offer huge rewards, whether that’s increased brand engagement or more leads coming through your door from referrals made at events themselves.

Clients 152
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Behind-the-Scenes Tour of Climate Pledge Arena

Will Springer Realtor

The smells of fried chicken and burgers waft in the air, music is pounding out notes high and low, and people are streaming by the thousands into one of the newest, most innovative arenas in the world. Climate Pledge Arena is coming to life for another one of its 200-plus events a year. You have probably experienced the excitement and buildup to a special moment within the walls of the reborn entertainment venue in Seattle Center.

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Boomers strike back: Older buyers unseat millennials as top cohort

Inman

Baby boomers have long enjoyed advantages over millennials in the home market. Now, they're outnumbering them as well.

Buyers 152
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First Citizens excludes Canadian branch from Silicon Valley Bank purchase

Mortgagebroker News

OSFI seized control of SVB's Canadian operations earlier this month

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Fully digitized closings can save lenders more than $400 per loan

Inman

Snapdocs research finds often overlooked secondary market efficiencies like reduced funding cycle time account for about 80 percent of savings.

Marketing 152
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What are the possible solutions to Canada's housing affordability crisis?

Mortgagebroker News

The challenges facing homebuyers show no signs of easing

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