Tue.Jul 25, 2023

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Here’s why the home insurance market matters

Housing Wire

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. HousingWire: What is the current home insurance market like? Ben Madick: The home insurance market is experiencing unprecedented volatility, which has significant implications for homeowners, mortgage lenders and prospective homebuyers.

Insurance 370
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Prioritizing Your Clients

The Appraiser Coach

When the pandemic hit us full force in 2020, business skyrocketed. We had never been busier! If I had tried to do everything the same way I did before, hiring someone just to turn down offers wouldn’t be a joke. It used to be that I would never dream of turning down an offer. But then, we had to do it regularly. But how can you mitigate your workload without losing your good clients?

Clients 195
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Insurance carrier exodus rattles California and Florida housing markets

Housing Wire

In late June, Susan Gregory received an estimate for a new homeowner’s insurance policy on her 120-year-old St. Augustine, Florida property, after her previous insurer, United Property and Casualty, went insolvent earlier in the year. Gregory was shocked to find out that her yearly payment would go from $8,800 to nearly $36,000 if she signed on with the new company. “I thought this was my forever home,” Gregory told First Coast News , which first reported the story. “It canR

Insurance 370
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Prioritizing Your Clients

The Appraiser Coach

When the pandemic hit us full force in 2020, business skyrocketed. We had never been busier! If I had tried to do everything the same way I.

Clients 195
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F2 Finance wants to capitalize on a fragmented fix-and-flip market

Housing Wire

F2 Finance wants to scoop up a share of a “fragmented” fix-and-flip market as a lack of housing inventory sharply limits transactions. “There’s about 8,500 fix-and-flip mortgage lenders in the U.S. just to give an idea of how fragmented it is in terms of the lender,” Christian Faes, founder of F2 Finance, said in an interview with HousingWire.

Finance 370
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Home prices rise 4 months in a row

Real Estate News

The Case-Shiller index for May shows steady home price growth since January and a slight dip compared to this time last year.

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Anywhere is back in the black after 2 quarters of steep losses

Real Estate News

While down year-over-year, revenue and income were up over the previous quarter, but the company missed expectations on earnings per share.

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Home prices in two regions are down from last year: FHFA

Housing Wire

U.S. house prices rose slightly in May, up 0.7% from April , according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). On a year-over-year basis, prices rose 2.8% from May 2022 to May 2023. But that only tells part of the story. “U.S. house prices increased moderately in May, continuing the trend of the last few months,” said Nataliya Polkovnichenko, supervisory economist at the FHFA.

Finance 370
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Another strong quarter for CoStar as revenue, site traffic climbs

Real Estate News

The commercial and residential real estate giant continues to grow revenue and income while also investing in Homes.com.

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Master-planned community sales ticked up in the first half of 2023

Housing Wire

New home sales among the “50 Top-Selling Master-Planned Communities” increased by 7% in the first half of 2023 compared to the same period in 2022, according to a study by RCLCO Real Estate Consulting. Master-planned communities have been gaining steam since their invention in the 1960s. Usually built by one developer, they are large, custom-built residential communities that include a number of recreational amenities for residents.

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How some commercial brokerages are beating the current market

Inman

Despite struggles in the commercial space dating from the beginning of COVID, some commercial brokerages have found a way to thrive, writes Atman Real Estate CEO Victoria Kennedy. Here's what they're doing.

Brokerage 148
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Real estate agents: it’s time to prospect expired listings

Housing Wire

Your job in real estate is to be a problem solver. There is no greater problem for a motivated seller than figuring out why their home didn’t sell! You are a real estate professional , they have a home to sell. It makes a lot of sense for you to be speaking with each other. If you do not yet have the wealth you desire and deserve, it’s simply because you have yet to figure out how to help enough people reach their goals.

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Interest for New Homes Strengthens

Eyes on Housing

Higher interest rates have led millions of existing homeowners with mortgages under 4% to postpone plans to list their homes for sale, and for many prospective buyers, that supply vacuum has left newly built homes as the only game in town. That is the backdrop behind the strengthening of interest for new homes.

Buyers 148
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Anywhere Real Estate reports $19M in Q2 net income

Housing Wire

The uptick in home sales during the second quarter of 2023 helped Anywhere Real Estate get back in the black. After posting a net loss of $138 million in Q1 2023 , the real estate conglomerate rebounded to report $19 million in net income for the second quarter. Although this figure is a big improvement on the first quarter, it still marks a 78% decline compared to a year ago.

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RentSpree adds 50,000-member OneKey MLS in latest partnership

Inman

OneKey, New York State’s largest multiple listing service, will now offer the software company's ApplyLink tool to members throughout Long Island, New York City and the Hudson Valley region.

Tools 148
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[eBook] How to Use Basic Workflows

GoForrmz

Streamline processes from end to end by automating manual tasks with Workflows Digital and mobile forms have emerged as critical resources in the modern workplace, revolutionizing everyday tasks and rapidly boosting productivity. Rather than continuously going through repetitive, manual tasks, teams are turning to digital and mobile forms to accelerate and automate busy work – allowing teams to prioritize more business-critical tasks.

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Anywhere posts $19M profit in Q2 following 2 quarters of losses

Inman

The world's largest franchisor of residential real estate brands posted a profitable quarter for the first time since the 3Q22 despite reporting sagging revenues of $1.7 billion in line with expectations.

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Financial Astrology for the Star-Skeptical Investor

BiggerPockets

Financial astrology. Yep, it exists. Traders and investors have been using the science behind the stars to predict prices and market movement for centuries.

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Get inspired by these 9 industry titans at Inman Connect Las Vegas

Inman

From Pacaso CEO Austin Allison to Compass founder Robert Reffkin, the real estate industry's most compelling voices are all taking the stage at Inman Connect Las Vegas in two weeks.

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GTA new home market significantly decelerates

Mortgagebroker News

Every asset class posted weaker performance compared to long-term trends despite sharp annual increases in activity

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CoStar posts profitable Q2 as real estate portals tally record traffic

Inman

The commercial and would-be residential giant saw revenue jump 13 percent year over year in the second quarter while profit climbed 20 percent, according to a 2Q earnings call Tuesday afternoon.

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Quebec launch marks latest stage in Vine Group expansion

Mortgagebroker News

The move makes the brokerage a 'fully national organization', founding partner says

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Home prices rose in May in defiance of down housing market

Inman

Prices rose 0.7 percent from April to May after adjusting for increases typically experienced in spring, according to estimates released Tuesday by CoreLogic and the Federal Housing Finance Agency.

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How is Calgary's industrial market faring?

Mortgagebroker News

The number of empty industrial spaces in the region is expected to climb slowly and steadily

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Far Homes new financing tool helps Mexico seem much closer

Inman

The marketplace for properties south of the border will now offer the value of linking aspiring owners with the people and processes involved with financing homes in the very popular U.S. second-home destination, the company said.

Finance 148
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What are private lenders encouraging brokers to focus on at present?

Mortgagebroker News

Executive on the conversations coming to the fore in the current market

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What is ableism? 2 ‘disabled’ women sound off

Inman

Trainer Rachael Hite takes a deep dive with two experts about what it takes to build a business plan that is both aware and inclusive, along with steps you can take to help your team tackle tough social issues that a significant portion of your customers may have.

Business 147
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Stronger demand for secondary residential units apparent in some markets: observers

Mortgagebroker News

Recent changes in some zoning bylaws have reportedly had a big impact

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You can do more than write about hate speech

Inman

If you think a member of the National Association of Realtors has done something unethical as outlined in the Code of Ethics, please file a complaint, writes Minnesota broker-owner and member of the professional standards committee Teresa Boardman.

Realtors 147
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Mortgage brokers essential to alternative lending, says exec

Mortgagebroker News

Company has seen continuous expansion of its industry alliances this year

Lending 58
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Top producers benefit with new Adwerx Top Performer Package

Inman

Adwerx is a digital advertising solution for the real estate industry which recently released a program for top producers, according to a statement.

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Eight Home Renovations to Make Before Retirement

Will Springer Realtor

Did you know that 10,000 new retirees are added to the Social Security rolls every day? That rate is expected to continue for the next two decades when some 74M Americans will join many others in their golden years. But, hold on! Before we get there, now may be a good time to plan for the inevitable. Growing old should be embraced as a new chapter in a storied life and one that brings great anticipation about new goals.

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Ryan Schneider: Cost cutting now sets Anywhere up for success later

Inman

The company is halfway to its goal of delivering $200 million in savings by the end of the year, according to its July 25 earnings report.

Brokerage 148
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How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability

BiggerPockets

Your rental property is at risk.

Tenants 65