Fri.Jan 27, 2023

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Pending home sales rise for the first time since May 2022

Housing Wire

Pending home sales ended 2022 on a positive note. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, according to data released Friday by the National Association of Realtors (NAR). “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. “ Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to st

Contracts 421
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11 red flags that you’re getting off track in your real estate business

Inman

It is possible to tell when your real estate business is going off-course before it’s too late. By keeping your fingers on the pulse of your business, you can evaluate often and adjust your course.

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Biden administration rolls out renter protections as rent prices soar

Housing Wire

As housing prices remain high across the nation, the Biden administration is taking action. The administration announced new actions earlier this week to protect access to housing and make rentals more affordable. According to the White House, roughly 35% of the U.S. population — or over 44 million households — live in rental housing, but there are no comprehensive federal laws to protect renters.

Tenants 410
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AI now complete with built-in stereotyping

Inman

If you want to use the ChatGPT chatbot for marketing, you need to be aware of its limitations and potential drawbacks, writes broker Teresa Boardman. It may make more sense, in fact, to do your own writing.

Marketing 160
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Old Republic’s net income was down over 55% in 2022

Housing Wire

The rapidly cooling housing market in 2022 was not kind to Big Four title insurer Old Republic. While the century-old firm, which is celebrating its 100 th anniversary in 2023, did generate net income for both the fourth quarter of 2022 as well as for the year as a whole, it was down substantially last year. During the fourth quarter of 2022 , Old Republic recorded a net income of $512.1 million, down from $627.0 million in Q2 2021.

Insurance 397
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Pending home sales trend up for first time since last spring

Inman

In a positive sign for the real estate industry — and the spring homebuying season — pending home sales rose in December for the first time since May 2022, increasing 2.5 percent from November.

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RE/MAX’s keys to success in 2023: Recruitment, mergers, acquisitions

Inman

As the brokerage prepares for a slower market, agent recruitment, finding a permanent RE/MAX Holdings CEO and franchise consolidation are among the issues RE/MAX will face in 2023.

Brokerage 147
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Last call for the 2023 Finance Leaders

Housing Wire

Today marks the last day to nominate someone for the 2023 HW Finance Leaders award. Don’t miss the chance to recognize the top finance executive at your organization! Eligible nominees must be corporate finance, capital markets, or accounting executives within mortgage origination or a real estate brokerage and will be selected based off of financial management, strategic thinking and contribution to their organization.

Finance 384
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Industrial Real Estate is Killing It! The Columbus, Ohio CRE Trend for 2023

The Robert Weiler Company

In the 2018 film Ready Player One , Columbus, Ohio, was depicted as the fastest-growing city on Earth in 2045. Why? Because it’s where fictional game developers James Halliday and Ogden Morrow of Gregarious Games launch the OASIS, a fully interactive immersive VR gaming environment where a growing percentage of the human population goes to escape.

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25 cities cracking down on Airbnb: The Real Word

Inman

This week, Byron Lazine and Nicole White are talking about cities that are making it harder to own short-term rentals, how inflation has impacted millennial homebuying plans and the weekly media review Left, Middle, Right.

Investing 148
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Personal Income Rises 0.2% in December

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.2% in December. The pace of personal income growth slowed after reaching a 0.8% monthly gain in October. Gains in personal income are largely driven by increases in compensation of employees in December. Real disposable income, income remaining after adjusted for taxes and.

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Douglas Elliman brings on John Stanaland Group in Orange County

Inman

The 12-person John Stanaland Group, formerly of Villa Real Estate, closed more than $300 million in sales volume in 2022, according to an announcement Thursday from Douglas Elliman.

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Buyers Expect Less Housing Availability

Eyes on Housing

After a brief respite earlier in 2022, buyers’ expectations of housing availability soured again at the end of the year. In the final quarter of 2022, the share of buyers who expect the home search to get easier in the months ahead dropped to 24%, down from 37% in the third quarter. In contrast, 66% expect the search to get.

Buyers 107
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The No. 1 opportunity for listings this market expert sees in 2023

Inman

This is the market where opportunity abounds for the diligent, professional agent. Homeowners who have been unable to sell their homes need your expertise.

Marketing 160
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Thanks to my friends at the Yolo Association of Realtors

Yolo Solano Appraisal Blog

I’m grateful to my friends at the Yolo Association of Realtors for naming me, along with Rachel Medina, the 2022 Affiliates of the Year for the association. Sharing this with Rachel, on the same night my friends and colleagues Don Sharp and Francisco Jimenez were named 20222 Realtors of the Year, made the recognition special.

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Zillow’s Curt Beardsley: ‘Invest time and energy with companies that are going to be here next year’

Inman

Zillow, Keller Williams and Realtor.com shared their respective takes this week at Inman Connect New York on the trends expected to take hold in 2023.

Investing 155
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Form Spotlight: The Client Intake Form

GoForrmz

Transform your intake process with the GoFormz Intake Form Mobile intake forms are a modern and convenient alternative to traditional paper forms. These digital forms can instantly gather information from clients, patients, and customers using any mobile device. They can be used for many purposes, like scheduling appointments, collecting personal information, and providing consent for services.

Clients 78
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Zillow deploys AI to improve online home search experience

Inman

Powered by an advanced natural language technology, homebuyers can enter longer, detail-rich requests, as they would on Google, to unearth more accurate inventory matches.

Inventory 146
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What’s New in Appraisal Membership: January 2023

McKissock

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide array of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership?

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Douglas Elliman taps Deva Roberts to replace Haber as general counsel

Inman

Kenneth Haber, who had served as general counsel since 2004, will now shift to an advisory capacity at Douglas Elliman as a senior managing director, the brokerage told Inman on Friday.

Brokerage 141
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Rental Property for Sale – View Listings and Their Complete Analysis on Mashvisor

Mashvisor

Do you wish to invest in a rental property for sale in 2023? Here’s a forecast and prediction for the year, what to expect, and how to invest.

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Inman’s Top 5 stories for the week of Jan. 20-26, 2023

Inman

Catch up on all of the latest news and this week's most-read stories. It's Inman's Top 5 for the week of Jan. 20-26 2023.

Agents 133
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FHA Handbook 4000.1 Appraisal Changes

Appraisal Today

FHA Handbook 4000.1 Appraisal Changes By Dan Bradley Excerpts: On January 18, 2023, HUD issued an announcement regarding revisions made to Handbook 4000.1. According to the announcement, the revisions included “enhancements and revisions to existing guidelines and various technical edits.” The most significant of these revisions was the elimination of the requirement to include the 1004MC form as an attachment to the appraisal report.

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Is Canada's housing market finally set to stabilize?

Mortgagebroker News

The Bank of Canada could be done on rate jumps – meaning an end is in sight to declines in home sales and prices, says executive

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2022 Connecticut Year in Review

Lamacchia Realty

Sales Down 18.8% and Prices Up by 5.9% The 2022 Connecticut Year in Review Housing Report breaks down sales, new listings, new pending sales, active inventory, and average price compared to the 2021 market and analyzes what the data means for the current housing market and beyond. In 2022, there were fewer sales in Connecticut than in 2021, down 18.8% overall from 53,369 to 43, 345 in 2022.

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What to expect in 2023

Mortgagebroker News

Hear from top lenders as they provide an update on what matters most to brokers for gaining traction in 2023 and beyond

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Rookie Reply: Escaping the Corporate Rat Race and Property Management Q&As

BiggerPockets

Escaping the rat race at 26 isn’t easy, but Isaac Lane, Arizona-based investor and rookie landlord, is doing it through out-of-state investing!

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Navigating turbulent times

Mortgagebroker News

Learn from the best in the industry on how to navigate these turbulent times and maximize the upcoming year

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Homebuilders still need lower mortgage rates

Housing Wire

What is happening with homebuilders and the new home sales sector as we head into the spring housing market ? We have had some conflicting data points recently. On the one hand, cancelation rates have been rising. On the other hand, mortgage rates have gone down more than 1% since Oct. 20, 2022. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving pr

Mortgage 545
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What are the keys for brokers to scale their business in 2023?

Mortgagebroker News

There are a number of ways for brokers to make this year a successful one, according to Vine Group Mortgage Alliance

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How JVM Lending plans to expand without any loan originators

Housing Wire

Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.

Lending 397
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Mortgage fraud on the rise in major markets

Mortgagebroker News

Local officials and investigators say that the trend is especially apparent in two provinces

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2022 Massachusetts Year in Review

Lamacchia Realty

Sales Decline 16.7% in Massachusetts The 2022 Massachusetts Year in Review Housing Report breaks down average prices, sales, inventory, new active listings, and pending sales for 2022 compared to 2021 and illustrates what that means for the current market. 2022 was another historic year in a succession of historic years for the real estate industry. 2020 the world was rocked by the breakout of COVID , the second half of 2020 and then 2021 experienced a frenzied housing market with inventory low

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How did the GTA office market perform as 2022 drew to a close?

Mortgagebroker News

Avison Young highlights market's strength and struggles