Thu.Jan 26, 2023

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Flagstar Bank makes big cuts to retail mortgage operation

Housing Wire

Two months after receiving the Federal Reserve ’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. “I just got news this morning that the company is scrapping retail outside of where the bank footprint is,” a former Flagstar Bank regional manager posted on social media.

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PLACE’s Chris Suarez: ‘We need that Day-1 vibe today’

Inman

According to Chris Suarez, who spoke at Inman Connect New York on Wednesday, the "Day-1” mindset should be applied by real estate professionals if they want to stay competitive.

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Affordability improves, as do hopes for a good spring  

Housing Wire

Affordability has improved in the mortgage market since December, thanks to declines in mortgage rates and a slowdown in home price appreciation. Here’s a spoiler: Industry experts believe this trend will continue for months, signaling that a good spring is ahead. “It’s been the rise in prices [and] interest rates that have constrained affordability,” Doug Duncan, senior vice president and chief economist at Fannie Mae, said in an interview.

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Real estate coach John Cheplak on reaching clients: ‘Go deep, not wide’

Inman

When it comes to reaching your clients, old and new, it’s all about going deep, not wide, according to real estate coach John Cheplak, who spoke at Inman Connect New York on Thursday.

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Zillow’s new AI feature can talk to home shoppers like it’s a friend

Housing Wire

Zillow launched a new AI-powered feature called “natural language search” that can now interpret home shoppers’ colloquial lingo, much like how they would talk to friends and family. Zillow is the first company to implement such a search engine. This feature is live on the Zillow app for Apple users but is not yet available on Android devices.

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Ryan Serhant: Interactive media is the next big thing in real estate

Inman

At Inman Connect on Thursday, the SERHANT. CEO dished with Inman's Lockhart Steele on the rise of artificial intelligence, ChatGPT, virtual worlds and a more inclusive real estate industry.

More Trending

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Adapting and refreshing your coaching and training programs for 2023

Inman

In this week’s video column, @properties Christie’s International Real Estate executives Amy Corr and Kevin Van Eck discuss how brokers should review their business plans to focus on the skills agents need to be successful in this new market.

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Black Knight offers new servicer solutions to curb foreclosure, late-stage default

Housing Wire

Black Knight recently added the Collections solutions to its suite of solutions as a way for servicers to keep customers in their homes during periods of financial hardship. The Collections solutions are geared toward helping to prevent foreclosure and late-stage default by making qualified assistance options timelier and more accessible to both homeowners and servicers, Black Knight said on Thursday.

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Short and long form video tips from social media strategist Katie Lance

Inman

Author and strategist Katie Lance told an audience at Inman Connect New York on Wednesday that putting yourself out there on video isn’t about getting popular, and all that matters is trying.

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Housing Share of GDP Lower in the Fourth Quarter of 2022

Eyes on Housing

Housing’s share of the economy edged lower at the end of the fourth quarter of 2022. This is the second straight quarter where GDP increased in 2022, with overall GDP increasing at a 2.9% annual rate, following a 3.2% increase in the third quarter and 0.6% decrease in the second quarter. However, due to higher interest rates, housing’s share of.

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The luxury key for 2023? Maintain relationships and ‘be obsessed’

Inman

"We are really not in the real estate business…We’re in the relationship business,” said luxury broker Dolly Lenz at the final session of Inman Connect New York on Thursday.

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Economic Growth and Signs of Cooling Inflation End 2022

Eyes on Housing

The U.S. economy continued to grow in the fourth quarter of 2022. As consumer spending and private inventory investment helped increase GDP, residential fixed investment dragged down the contribution to percent change in real GDP by 1.29 percentage points. More importantly, the data from the GDP report suggests that inflation is cooling. The GDP price index, rose 3.5% for the.

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Why top agents see market shifts as an opportunity to shine

Inman

At Inman Connect New York on Wednesday, Dana Cadena, Kathy Helbig-Strick and Phillip Salem offered tips for making the transition from a seller's market to a buyer's market.

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Commercial Real Estate Appraisal: Investing in Commercial Property

Appraisal Hub

When buying or selling commercial real estate in Toronto, the first step is to determine the property’s fair value so you can make optimal pricing decisions. A real estate appraisal provides a reliable way to understand the property and put it in the current market context. It can help you set an asking price if you are selling or negotiate if you are buying.

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How these agents found success in the face of tragedy

Inman

Amanda Marsh and Amie Quirarte shared their personal experiences at Inman Connect New York on Thursday and talked about channeling endurance and resilience.

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[Webinar] Make the Most of Your Construction Technology in 2023: A Roundtable Discussion

GoForrmz

Join construction industry leaders in a live, roundtable discussion about construction tech solutions 2023 is likely to continue to bring challenges to the construction industry, including labor shortages, high material costs, and rocky economic conditions. Make sure that your construction business is staying ahead of the curve, and the competition, by embracing technology to leverage the most you can out of every project.

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10 places real estate pros are safe from AI

Inman

AI will impact the real estate industry and improve efficiency in many areas. However, there are certain aspects of the industry that will remain unchanged.

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Mortgage industry veteran Nicole Booth is QC Ally’s new CEO

Housing Wire

Loan quality and audit services company QC Ally appointed Nicole Booth as its chief executive officer and Melissa Peregord as its new chief growth officer. Booth served as the company’s chief marketing officer prior to this announcement. She joined the company last July. “I’ve spent the past seven months diving head-first into understanding the importance and opportunity for innovation in loan quality certainty from the unique perspective of industry leaders, GSEs, and the QC Ally team,” said Bo

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Breaking into the luxury market and strategies to stand out

Inman

Watch this week's newest classes now. Join Inman Access to unlock all the knowledge right at your fingertips.

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The Dreaded “Declining Market” Box On Appraisals! Ignorance? Pure Evil? Or – Appraisers Just Doing Their Job?

JMV Lending

MEDIAN = MISLEADING Chevron is moving its entire headquarters complex from California to the much more business-friendly Houston, TX area. I happen to know a lot of Chevron employees – and what is interesting is that most of the younger and newer employees are moving to Houston too, as they don’t really have a choice. […] The post The Dreaded “Declining Market” Box On Appraisals!

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Federal court rules in favor of NAR in longtime DOJ probe

Inman

District court judge sets aside DOJ demand for information from the NAR on buyer broker commission and pocket listing rules.

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Has the BoC reached an endpoint on rate hikes? CIBC's Tal gives his verdict

Mortgagebroker News

"They are in a very difficult situation in which they have to tell you they are done without telling you they are done"

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The broker-owner’s guide to real estate teams

Inman

Overall, teams can be very positive for business. Problems arise, writes Engel & Völkers Americas CEO Anthony Hitt, when teams operate as a brokerage within a brokerage.

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RESCO Group of Funds readies for expansion in 2023

Mortgagebroker News

A strong 2022 in a difficult market has set the company in good stead for the year ahead

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Keller Williams President Marc King on how to thrive in a downturn

Inman

The 2008 downturn nearly drove Marc King into bankruptcy.

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BMO Capital Markets on what happens next for the Bank of Canada

Mortgagebroker News

The central bank still hasn’t fully shut the door on further increases, says economist

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Finance Friday: Stock-Based Compensation Explained and Tax Traps to Avoid

BiggerPockets

For the entry-level worker, employee stock options may seem completely foreign. But for most tech workers, this is commonplace and can be highly lucrative if understood correctly.

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How will the latest rate hike impact mortgage costs?

Mortgagebroker News

Mortgage holders will continue to feel squeeze of rising costs, says expert

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3 Investing Mistakes You Don’t Want To Make In 2023

BiggerPockets

This article is presented by Kiavi. Read our editorial guidelines for more information.

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Bank of Canada expects to offset losses through legislative changes

Mortgagebroker News

Changes would allow central bank to retain some of its earnings

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How to find, analyze, fund, and manage AirBnBs properties (with Kyle Christian, over a decade of experience in multiple facets of the real estate investment world) – Real Estate Real Fast EP12

Listing Spark

Summary In this episode of Real Estate Real Fast, host Aaron Jistel interviews Kyle Christian, an experienced investor in private and hard money investments, flipping houses, and managing AirBnBs and hotels. Kyle explains his strategy for finding good AirBnB deals, including serving underserved markets, analyzing and validating numbers, providing clear instructions to guests, and looking for reviews when evaluating management companies.

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Buyer confidence drops amid continuous rate hikes

Mortgagebroker News

New data reveals buying timing intent among potential homeowners

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A New Housing Market is Forming: How to Take Advantage in 2023

BiggerPockets

The new housing market is here, and with it comes a whole new set of real estate investing rules.

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Home prices to continue falling as rates rise once again

Mortgagebroker News

Pullback is within expectations, says Bank of Canada

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