Fri.Mar 01, 2024

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Older homeowners want to age in place but are averse to extracting equity: Fannie Mae

Housing Wire

By and large, homeowners who are 60 and older love where they live and have a preference to age in place. They may also see the equity in their homes as a “financial reserve” and are generally confident in their retirement plans, but they are far less interested in employing their home equity in retirement. This is according to Doug Duncan, chief economist at Fannie Mae , in a new blog post that explores the homeownership patterns of older Americans.

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Century 21 CEO: How to grow, even in the toughest times

Real Estate News

C21 President and CEO Mike Miedler says growth is more than numbers, it’s creating opportunities for the future — and being “ready, willing and able to grow.

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Announcing HousingWire’s 2024 Finance Leaders

Housing Wire

HousingWire is excited to introduce the winners of the 2024 Finance Leaders award, recognizing the top finance executives in housing who are driving financial performance, expanding margins, improving liquidity and helping their businesses access the capital markets. In its 4th year, 40 honorees were recognized. This year’s Finance Leaders were selected by HousingWire’s selection committee based on their professional achievements within their organizations, contributions to the overall housing e

Finance 441
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3 things agents should know about new construction buyers

Real Estate News

A Realtor.com survey of new home buyers reveals who is buying and what they want from real estate agents — their advocates in the purchase process.

Buyers 238
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Opinion: Improving housing affordability without exposing homebuyers to more risk

Housing Wire

It is no secret that there is a housing affordability challenge in the U.S. According to the National Association of Realtors ’ (NAR) Housing Affordability Index , since spring of last year, a typical family with a median income have not been able to afford a median-priced home. While mortgage rates will likely fall this year, conversations about how to increase accessibility to homeownership are still top of mind — and should be top of mind — across the real estate industry.

Insurance 440
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People on the Move at CoreLogic, BHGRE and Realtracs

Real Estate News

CoreLogic promotes Kevin Greene to real estate GM; BHGRE appoints Karrie-Ann Sheppard as VP of Learning; Realtracs creates 3-member advisory board.

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Seven Percent of Builders Now Build Barndominiums

Eyes on Housing

Over the past decade, use of the term “barndominium” (indicating a structure that is, in some sense, a combination barn and condominium) has become increasingly widespread in real estate media outlets. In fact, the term has become popular enough for NAHB to include a question about it in its survey for the February 2024 NAHB/Wells Fargo Housing Market Index.

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Kiavi closes on $350M securitization 

Housing Wire

Kiavi , one of the nation’s largest private lenders for residential real estate investors , closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions. This securitization marked Kiavi’s 16th such transaction and elevated the company’s total issuance to more than $4 billion since it launched its securitization program in 2019

Investors 431
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NYCB’s surprise $2.7B Q4 loss rekindles regional bank fears

Inman

Worries about commercial real estate are making jumbo mortgages costlier, since regional banks are a major provider of loans that are too big for Fannie Mae and Freddie Mac.

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Loan Factory sued by originators for alleged use of unauthorized information

Housing Wire

California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. Loan officer Derek Daniel Bobadilla and the class members represented by Johnson & Johnson LLP claimed that they have never worked with Loan Factory, but the lender displayed their loan officer profiles on the “Find a Loan Officer” page of its website

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Scarce inventory, falling rates could boost home prices

Inman

In December, a Pulsenomics panel of more than 100 housing experts expected homes to appreciate by 2.4 percent in 2024. Now they're predicting prices will go up by 3.8 percent.

Inventory 184
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Book authors want loan officers to have an edge in a highly competitive market

Housing Wire

In a fiercely competitive market , mortgage originators need to rethink everything to gain market share and become savvy. From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loan officers in a new book titled, “Rethink Everything: You ‘Know’ About Being A Next-Gen Loan Officer.

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Want to be a more effective real estate leader? Learn how to coach

Inman

ERA Real Estate President Alex Vidal writes that agents are the true heroes in real estate. Leaders need to understand that and support them if they want to get better results.

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NYCB shakes up leadership amid $2.4B earnings hit, weak controls

Housing Wire

Thomas Cangemi is stepping down as president and CEO of New York Community Bancorp (NYCB) following the company’s disclosure of internal control deficiencies and a goodwill impairment of $2.4 billion. Alessandro DiNello, appointed executive chairman of the board on Feb. 6, will replace Cangemi, effective immediately. DiNello was the president and CEO of Flagstar Bancorp , a bank recently acquired by NYCB.

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Mortgage rates ease for 2nd consecutive day on inflation data

Inman

The Federal Reserve's moves to trim $35 billion in mortgages from its balance sheet each month could keep mortgage rates from falling dramatically this year.

Mortgage 184
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Postilio and Conlon move to Compass, plan to expand beyond NYC

Housing Wire

Compass has added two top New York City agents, Tom Postilio and Mickey Conlon, to its roster, the company announced on Thursday. The pair joined Compass after spending almost nine years at Douglas Elliman , where they were founding members of the sports and entertainment division. Postilio and Conlon are known for their roles on Page Six TV’s “Billion Dollar Brokers” and on HGTV’s “Selling New York.” They boast a celebrity clientele. “We look forward to

Clients 420
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Compass, eXp notch more big recruiting wins

Inman

Compass has recruited New York-based brokers Tom Postilio and Mickey Conlon. Meanwhile, eXp added Calgary-based Sahil Chhabra and his team to its ranks.

Brokerage 184
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Magistrate judge recommends $46M in restitution from former Live Well CEO

Housing Wire

After attorneys made their cases for both the U.S. government and former Live Well Financial CEO Michael Hild regarding a restitution amount owed to the company’s creditors, a magistrate judge overseeing the issue has recommended that Hild pay more than $46 million. The final amount will be determined by the trial judge. The funds will ultimately go to companies including Mirae Asset Securities , Industrial and Commercial Bank of China Financial Services (ICBC), Flagstar Bank , Customers Bank an

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‘Selling the Hamptons’ is back — and the competition is fierce

Inman

Two new cast members make their entrance in Season 2 of "Selling the Hamptons," which premieres on Max on Friday. Season 1 vets Bianca D'Alessio and Peggy Zabakolas told Inman the newbies are ready to ruffle some feathers.

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There Is an Interest Rate That Will Unfreeze the Market—But Will We Ever Get There?

BiggerPockets

The beginning of 2024 has been a buzzkill for what many believed would be the beginning of federal interest rate cuts. Are we still on track for a summer cut, though?

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Mexicali becomes a tiny home capital with new Samara factory

Inman

The accessory dwelling unit startup launched in 2022 by an Airbnb cofounder announced this week that it is taking its manufacturing operations in-house.

Marketing 180
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Is There New Risk of a Crash This Year? Here’s What Pundits Are Warning About

BiggerPockets

Some pundits fear that a recession is likely to come due to factors that might not be as apparent as others. Here's what they're saying.

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How far would you go to protect your buyer clients? The Download

Inman

The Consumer Federation of America, an industry watchdog, says that the buyer agreements you're depending on are woefully inadequate to properly protect homebuyers.

Buyers 170
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Leading Real Estate Companies of the World® Awards Lamacchia Realty for Most Outgoing Referrals in 2023

Lamacchia Realty

March 1, 2024 – Last night during the Leading Real Estate Companies of World annual conference in Las Vegas , Lamacchia Realty won the award for most Outgoing Referrals out of all Category Five companies! Broker/Owner and CEO, Anthony Lamacchia , and Vice President of Relocation, Sarah Hatch took the stage to accept this prestigious award. “I’m thrilled that we’ve won this award and even more thrilled that we helped so many clients relocate this year!

Realty 64
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Ditch the me-me-me approach to marketing and negotiation

Inman

Agents should embrace client-centric approaches that include making their marketing materials about the client, trainer Bernice Ross writes.

Marketing 187
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Blowing the Lid Off Your Financial Ceiling Means Creating a Floor to Allow Risk

BiggerPockets

Without risk, there's no path to an extraordinary life. Here's what you should do instead.

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Contracts, crosshairs, commissions: Inman’s Top 5

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Contracts 179
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Flood Insurance 101: Essential Guide for First-Time Homebuyers

Buys Brokers Only LLC

In a recent episode of the NAEBA podcast " Listen Up Homebuyers, " host Victoria Ray Henderson spoke with Jeff Jackson, Deputy Assistant Administrator for the Federal Insurance Directorate, who oversees flood insurance operations for FEMA's National Flood Insurance Program.

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Try these 7 budget-friendly lead sources with no upfront fee

Inman

In a market where agents must be expense-averse, Jimmy Burgess writes, generating leads that only have an expense if money comes in can make a lot of sense.

Agents 181
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How Much Does It Cost to Furnish a House: A Real Estate Investor’s Guide

Mashvisor

Unlock the secrets of real estate expenses and dive into our guide on how much does it cost to furnish a house.

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9 post-Sitzer questions we still don’t have answers to

Inman

Change always brings chaos and disruption, broker Cara Ameer writes. While many of these issues have been lurking in the background before we knew what Sitzer | Burnett was, they illustrate the work that remains to be done.

Buyers 144
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Government scraps First-Time Home Buyer Incentive

Mortgagebroker News

Much-maligned program axed

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Using paid leads? Here’s the FCC change you need to know now

Inman

Whether your lead gen leans into cold calls, direct mail, door knocking or portals, Bernice Ross talks to REDX CEO Curtis Fenn to find out what changes are afoot.

Agents 144
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Is the Toronto housing market about to take off?

Mortgagebroker News

Activity has picked up even before expected rate cuts arrive