Fri.May 05, 2023

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Jobs data shows the labor market is normalizing

Housing Wire

Is the labor market finally normalizing? Jobs Friday data came in as a beat of estimates, but the labor market is clearly starting to come back to earth, killing the fear of 1970s wage spiral inflation. We’ve had a good week’s worth of data to show that the Federal Reserve is starting to get what it wants if you know where to look. The headline jobs data beat estimates, but we did have 149,000 negative revisions to the previous month’s data.

Marketing 485
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CTO gets Real about new AI tools, and risks

Real Estate News

ChatGPT is not hard to add to your site. The challenge comes in doing it the right way, so you don’t hurt your brand with “hallucinations.

Tools 261
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Exclusive: FHFA interview about LLPA changes

Housing Wire

In January, the Federal Housing Finance Agency (FHFA) made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. Although they went largely under the radar at the time, they ultimately caused an uproar among consumers , the mortgage industry and even some lawmakers.

Mortgage 395
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RE/MAX revenue down, but mortgage business is growing

Real Estate News

The company lost $700K and saw U.S. agent count decline in Q1, but said the results met expectations and focused on opportunities for Motto Mortgage.

Business 211
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Optimal Blue PPE adds investor content from 54 state-based HFAs

Housing Wire

Optimal Blue , a division of Black Knight, Inc. , announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

Investors 382
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Opendoor CEO Carrie Wheeler on Q1 earnings and the iBuyer’s future

Inman

The chief executive of the largest iBuyer spoke to Inman about Opendoor's first-quarter earnings on Thursday — and expectations that the company is turning a corner after a rough 2022.

More Trending

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$5.48M mid-century sale is biggest Sierra Madre deal in 20 years

Inman

The 1975-era home closed at $1 million over asking, Inman has learned exclusively. Buyers have flocked to Sierra Madre, California, for its privacy and access to nature, as many people continue to work remotely.

Buyers 160
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AMC Hires a Convicted Felon as Property Data Collector

Appraiserblogs

The recent case of Paschal Uchendu, a convicted felon awaiting sentencing for orchestrating a $1.2 million armed robbery of a courier van, which he was entrusted to secure, is cause for alarm when it comes to the use of unlicensed property data collectors. The largest appraisal management company had hired Mr. Uchendu as one such property data collector despite his criminal background and pending legal issues – clearly demonstrating their lackadaisical attitude towards vetting employees who are

Law 148
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Keller Williams scoops up second Arizona-based indie of 2023

Inman

Twelve-year-old independent brokerage Tru Realty has joined Keller Williams, according to an announcement on Thursday. Tru Realty has generated $450.6 million in sales volume since 2021.

Realty 160
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Solid Job Growth in April

Eyes on Housing

Job gains continued in April, despite rising interest rates and a slowing economy. After a revised 165,000 job gain in March, total nonfarm payroll employment increased by 253,000 in April, and the unemployment rate declined to 3.4% from 3.5% in March. In April, on a year-over-year basis, wage growth increased slightly to 4.4% from 4.3% last month, but down compared.

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Aptly named PayProp is a U.K. proptech import landlords will welcome: Tech Review

Inman

There’s not an over abundance of spreadsheets or charts (there are some) but instead a series of clean dashboards that track payments, outgoing expenses, revenue streams and tenants.

Landlords 160
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10 Landlord-Tenant Laws Every Landlord Should Know

BiggerPockets

Landlord-tenant laws can be complicated and have a lot of grey areas. This article lists out 10 critical laws you must know before renting out property.

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7 surprising facts about Buying Beverly Hills’ Ben Belack

Inman

You've seen him on Netflix's "Buying Beverly Hills" but what did you really learn? In this Real Tea interview, we'll go deeper on everything from romances, team movements, nepo-babies, Scandoval and more.

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Did We Avoid A Recession With Help From The Housing Market?

BiggerPockets

There's rarely been a time of so much economic uncertainty, but the housing market's resiliency has helped the Fed get closer to its "soft landing" goal. What comes next?

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What layoffs? Most of real estate industry is ramping up, data shows

Inman

Employers posted another hot hiring month as the spring housing market picked up, exceeding strong overall numbers, according to data released Friday by the U.S. Bureau of Labor Statistics.

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Lamacchia Realty Announces Top Producing REALTORS® for April 2023

Lamacchia Realty

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for April 2023! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! April 2023 Winners of the Top 10 for the Company are: Kyle Denlinger joined Lamacchia Realty part-time in 2021, and officially switched to real estate full-time in the beginning of 2022.

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Stand out: 6 personal branding tips for brand new real estate agents

Inman

Building a personal brand takes time and effort, but the rewards are well worth it. By consistently applying these Brandamentals developed by branding guru Stacey Ross Cohen, you'll see results.

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C.D. Howe Institute highlights main factor in home price growth

Mortgagebroker News

Existing barriers to development only amplify current problems, report says

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‘A no-brainer:’ RE/MAX aligns with 70-agent SoCal brokerage

Inman

Long Beach-based Proper Real Estate has affiliated with the global franchisor, bringing along 70 agents and rebranding to RE/MAX Proper.

Agents 160
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Rookie Reply: What You Need to Know Before Buying Your First Rental

BiggerPockets

Still waiting to buy your first rental property? Everyone’s been there.

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Rent should stop driving inflation soon, Zillow says

Inman

Zillow reported rent grew by just 0.6 percent in April as an ongoing slowdown in rent growth continued after peaking last year.

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Montreal market's slowdown continues

Mortgagebroker News

April transaction volumes are at their lowest in 23 years

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How to talk to clients about money (and all the rest): The Download

Inman

Agents can deal with economic headwinds by understanding their buyers' mindset and helping them tap into down payment resources.

Clients 154
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BoC's Macklem stresses lingering threat of global volatility

Mortgagebroker News

The central bank has not yet ruled out further rate hikes

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Complex hikes, deal-killers, Zillow earnings: Here’s Inman’s Top 5

Inman

Wondering what you missed this week? Find out with Inman's Top 5 most-read stories of the week.

Brokerage 160
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Canadian economy adds 41,000 jobs in April

Mortgagebroker News

The national labour market remains tight

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Google Home: A comprehensive review of devices and features

Inman

Google Home is a robust ecosystem that offers homeowners a range of smart home devices and features.

Design 159
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Will strong job growth upset the Fed’s plans?

Housing Wire

Job growth surprised again in April, this time rising more than expected. Total nonfarm payroll employment rose last month by 253,000 jobs, compared to March , according to data released Friday by the Bureau of Labor Statistics. “Job growth for the prior two months was revised downwards, but on net, the labor market is stronger than expected, including wage growth up 4.4% over the past year,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement.

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Lawsuits, housing and AI: What to watch as NAR’s ‘midyear’ unfolds

Inman

The Realtors Legislative Meetings will run May 6-11 and some sessions will be live-streamed for National Association of Realtor members. Here's everything to look for as the conference starts.

Realtors 118
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CMHC releases 2022 full-year results

Mortgagebroker News

Housing market volatility did not hamper the Crown corporation's performance

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Converting Residences to Businesses - Part 3 - Professional Firms

Eppraisal

Having looked at using a portion of your residential property for retail or health care services, we now turn toward other professional small business uses -- architects, engineers, consultants, attorneys and similar enterprises. These differ from the prior uses in that they do not necessarily require customers to visit the property in order to transact business.

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What Are Fannie’s New Appraisal Online Formats?

Appraisal Today

Fannie’s New Appraisal Online Formats By Brent Owen Excerpts: To Be Or Not To Be (a form), That Is The Question The first thing to notice is that the ‘form’ isn’t really a form anymore. It is more of a complex decision tree or flow chart, where ‘yes/no’ questions trigger new sections and required data and supplements. For instance, answering ‘yes’ to a question about noted deficiencies will create a new section where details are needed regarding the deficiency which include further questio