Thu.Feb 04, 2021

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5 tips for buying a home in a seller’s housing market

Housing Wire

There’s no doubt we’re in a seller’s housing market. With inventory at record lows, demand surging and prices on the rise, buying — even just finding — a home in today’s market is quite the challenge. Of course, nothing’s impossible. If buying a home is on your radar for 2021, there are still ways to do it. You’ll just need a little forethought and some good old creativity, and the American Dream could very well be within reach.

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AVM’s & Punxsutawney Phil’s Accuracy

Cleveland Appraisal Blog

On Tuesday of this week, Punxsutawney Phil saw his shadow. Therefore, we have six more weeks of winter weather, by some predictions. Somehow, I feel like six more weeks of winter is a given. Especially in Northeast Ohio. How accurate are weather predictions made by folks who try to base future weather patterns on whether this little critter sees his shadow?

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Mortgage rates continue to stay low at 2.73%

Housing Wire

The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. With mortgage rates hovering below 3% for over six months now, Sam Khater, Freddie Mac’s chief economist, said this may be a sign of an economy still struggling. “This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position,” Khater said. “While ma

Mortgage 542
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Finder’s Fees: What Real Estate Investors Need To Know

BiggerPockets

Understanding finders’ fees and knowing what percentage you are willing to pay are important aspects of becoming a successful real estate investor.

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Urban home values growing faster than ‘burbs in Midwest

Housing Wire

A Zillow report released Thursday shows urban home values in Midwest cities — namely, St. Louis, Cincinnati, Cleveland, Kansas City, Columbus and Indianapolis — have risen faster than suburban home values over the past several months. Urban housing markets in the Midwest are generally more affordable than urban areas in other areas of the country. With the COVID-19 pandemic forcing millions to work from home, Zillow reported that demand is supercharging home values in those kinds of affordable a

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How Blogging Can Help Grow Your Realtor Business

BiggerPockets

Many Realtors overlook blogs as a viable option to garner exposure and potential leads. If you’re not blogging, it's time to start.

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BiggerPockets Money Podcast 168: Finance Friday: Budgeting Expenses While Living on The Road with Renewable Energy Worker Clayton

BiggerPockets

A big piece of advice given by many wealthy people and real estate professionals is to simply “get started when you’re young”. This is exactly what our guest has done […].

Finance 36
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Stone Point Capital, Insight Partners to purchase CoreLogic

Housing Wire

After months of uncertainty , CoreLogic announced Thursday that it entered into a definitive agreement to be acquired by Stone Point Capital and Insight Partners for $80 per share in cash, or an equity value of about $6 billion. This would be a premium of 51% to CoreLogic’s unaffected share price as of June 25, 2020. The acquisition was approved unanimously by CoreLogic’s board of directors.

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Deephaven Mortgage re-enters non-QM market

Housing Wire

Like many players in the non-Qualified Mortgage space, Deephaven Mortgage was forced to halt operations in 2020 when liquidity dried up. That was then, this is now. Deephaven is now set to issue a $146.2 million security backed by non-QM mortgages that have seasoned for an average of nine months, a presale report from S&P Global Ratings showed. This represents the first such issuance since June for the non-QM specialist.

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PennyMac posts strong profits in Q4 despite MSR losses

Housing Wire

PennyMac , the nation’s largest mortgage aggregator, posted net profits of $452.8 million in the fourth quarter of 2020. In all, the nonbank brought in $1 billion in revenue during the fourth quarter of 2020, its latest earnings report showed. The gains were driven by “core production and servicing results partially offset by fair value losses on mortgage servicing rights (MSRs) and associated hedging and other losses,” the firm said in a statement to investors.

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MBA’s Lisa Haynes to speak at Spring Summit

Housing Wire

Lisa Haynes, the Mortgage Banker Association ‘s senior vice president, chief financial officer and chief diversity and inclusion officer, will discuss how lenders can increase their diversity strategy to impact minority homeownership at HousingWire’s Spring Summit on March 4. The homeownership gap between white and Black Americans is larger than in the 1960s, and both real estate and mortgage lenders are looking for solutions.

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Biden stimulus could worsen affordable housing crisis

Housing Wire

The nation’s most influential housing trade groups sent a letter to the House Committee on Financial Services saying any new stimulus package considered would need to have rental assistance, and warned of dire consequences if it does not. Housing groups including CCIM Institute , Council for Affordable and Rural Housing , Institute of Real Estate Management , Manufactured Housing Institute , Mortgage Bankers Association , National Affordable Housing Management Association , National Apartm