Tue.Jul 09, 2024

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The Real Brokerage surpasses 20,000 agents

Housing Wire

Fast-growing firm The Real Brokerage is celebrating its 10 th anniversary by announcing that it has surpassed 20,000 agents. In an announcement on Tuesday, the firm said it has added roughly 1,000 agents per month throughout the first half of 2024. “I can’t tell you what an amazing feeling it is to reach this milestone. Thank you to our agents and Real employees who come to work each day committed to creating a different type of real estate experience.

Brokerage 430
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Is The Housing Market Becoming Buyer Friendly? 

Appraisal Buzz

The number of homes currently for sale increased for an eighth consecutive month in June, rising by 36.7% year-over-year, according to Realtor.com June housing data. The median home also spent 45 days on the market, an increase of two days over the previous year. The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors.

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Lamacchia Realty continues acquisition spree with Berkshire Dream Home

Housing Wire

Massachusetts -based Lamacchia Realty is continuing its expansion. The brokerage announced Tuesday that it has acquired Dalton, Massachusetts-based Berkshire Dream Home for an undisclosed sum. Berkshire Dream Home was founded in 2014 by Andy and Sarah Perenick. According to the release, in was the top firm in Berkshire County for transaction sides in 2022 and 2023.

Realty 430
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More American Households Becoming Financially Insecure  

Appraisal Buzz

However, over a third of Americans are in financial distress, according to LendingTree ‘s 2024 Household Financial Insecurity Report. We looked into the challenges Americans face in covering typical household expenses, such as food, housing, and medicine, using data from the U.S. Census Bureau Household Pulse Survey. We discovered that financial insecurity has increased 6.7% since 2022, and it has increased to 25.0% among the youngest demographic (18 to 24).

Appraisal 366
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Mortgage rates hold steady despite softer labor market

Housing Wire

Mortgage rates held steady over the past week despite recent signs of relief from the labor market, according to HousingWire’s Mortgage Rates Center. In large part because of the lack of clarity as to when the Federal Reserve will begin cutting the benchmark rate, mortgage rates remained above the 7% level. The average 30-year rate for conforming loans sat at 7.11% on Tuesday, unchanged from one week ago.

Mortgage 441
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Informative Research Taps Brandon Hall as EVP of Operations

Appraisal Buzz

Brandon Hall has joined Informative Research , a provider of data-driven solutions to the lending community, as executive vice president (EVP) of operations. Hall has more than 20 years of experience driving operational excellence within the financial services sector and is known for implementing innovative process improvements, fostering cross-functional collaboration and leading through change.

Lending 195

More Trending

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Five Star Academy Offering Discounted Education

Appraisal Buzz

The Five Star Academy (FSA) is an independent certification program with courses written by housing and mortgage industry experts. FSA features educational offerings covering regulatory compliance, legal practice, diversity and inclusion, and distressed asset disposition in an easy-to-use online format. FSA has announced that it is offering a 30% discount on their educational offerings through Friday, July 19.

Realty 195
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What are you focusing your energy on in 2024?

Housing Wire

Nominations for the 2024 HousingWire Vanguards award are open throughout the month of July. To celebrate the industry’s most prestigious award for c-suite execs in mortgage and real estate, HousingWire reached out to some of last year’s honorees to hear more about their current priorities and asked the question: What are you focusing your energy on in 2024?

Clients 417
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Guaranteed Rate Rebrands to Just ‘Rate’ as it Expands Products and Services

Appraisal Buzz

Guaranteed Rate is undergoing a major rebranding to reflect the company’s commitment to innovation in the fintech and mortgage industries. The company is dropping the word “Guaranteed” from its name and moving forward will be known simply as “Rate.” “Rate’s rebrand is more than just a name change; it represents a new era of growth and innovation,” says Victor Ciardelli, CEO of Rate, in a release.

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More than 25% of retired investors are paying down mortgage, credit card debt

Housing Wire

Over a quarter (26%) of retired investors continue to pay off their mortgage, and precisely one-quarter of the cohort are continuing to pay down credit card debt, according to a new survey from the Nationwide Retirement Institute. The U.S. retirement population is getting older at a faster rate and are also confronted with inflation as an impediment to making ends meet.

Investors 416
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Hurricane Beryl—A Record-Setting Storm

Appraisal Buzz

Grenada. The Yucatan. Texas. Hurricane Beryl tore through the Atlantic on a track that took it through the southern Lesser Antilles making its first landfall as a Category 4 on the island nation of Grenada, continuing south of Cuba until it made it’s second landfall as a Category 2 when it hit the Yucatan Peninsula finally making its final landfall at Matagorda, Texas as a Category 1 storm.

Insurance 195
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The month in reverse mortgage rates: July 2024

Housing Wire

In the May 2024 reverse mortgage rates report, we discussed how reverse mortgage borrowers might benefit from higher interest rates over the life of the loan. While this is counterintuitive, one must often think about reverse mortgages in…well, reverse. Of course, the reason for this is because the unused principal with an adjustable-rate Home Equity Conversion Mortgage (HECM) grows at the same rate that is applied to the loan balance.

Mortgage 416
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ICE: 24 Percent of Homeowners With a Mortgage Now Have a Rate Above 5 Percent 

Appraisal Buzz

While a majority of U.S. homeowners with mortgages continue to be locked into rates below 5%, the share with rates above 5% is growing steadily. As of May, 24% of homeowners with mortgages had a current interest rate of 5% or higher, according to ICE Mortgage Technology’s July 2024 Mortgage Monitor Report. “As recently as two years ago an astonishing nine of every 10 mortgage holders were below that threshold,” says Andy Walden, vice president of research and analysis for ICE, in the report.

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FHLBank Chicago adopts VantageScore 4.0 model

Housing Wire

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data. “[M]ember financial institutions can now pledge mortgage collateral using VantageScore credit scores as an alternative to the Classic FICO credit score model,” the announcement said.

Finance 371
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First American: Affordability Crunch Likely to Last Through 2024

Appraisal Buzz

The affordability crunch plaguing home buyers is likely to persist through the end of 2024, First American says in its latest Real House Price Index report. “At the beginning of the year, we predicted affordability may end 2024 modestly higher than at the end of 2023,” says Mark Fleming, chief economist for First American, in the report. “This forecast was based on the industry consensus at the time that mortgage rates would fall to 6.25 percent and house prices would slow to 3.7 percent by the

Buyers 195
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CoStar pulls high-profile Homes.com ads

Real Estate News

BBB’s ad division sides with Realtor.com challenges to Homes.com traffic claims — the latest twist in the hard-fought battle for the No. 2 spot in home search.

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Chevron Federal Credit Union Improves the Borrower Experience With Blue Sage Digital Lending Platform

Appraisal Buzz

Chevron Federal Credit Union is now using the Blue Sage Digital Lending Platform to deliver a better borrower experience. With Blue Sage’s LOS and LION Consumer POS, the credit union is able to offer its members a seamless, secure and speedy mortgage experience from any device. In addition, it will gain new operational efficiencies throughout its entire loan origination process.

Lending 195
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New MoxiWorks CEO poised to disrupt real estate tech

Real Estate News

Eric Elfman took the helm at the proptech giant in June and is ready to take on competitors, go deeper with AI and “get back to customer-centricity.

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Rapidly growing Real Brokerage surpasses 20K real estate agents

Inman

The publicly traded real estate brokerage reached the milestone on its 10th anniversary and set its sights on a closing-bell celebration at the Nasdaq exchange Tuesday afternoon.

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Association leaders ‘emphatically deny’ profiting from MLS sale

Real Estate News

A new statement takes aim at “misinformation and concern” surrounding the proposed sale of REcolorado and provides details on the buyer and his intentions.

Buyers 244
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Local MLSs are doomed. The case for data consolidation in real estate

Inman

The thing holding many local MLSs in place is a desire for power and control rather than seeking the best for real estate agents and brokers, writes Mainframe Real Estate founder Sean Frank.

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Increase in Mortgage Activity for June

Eyes on Housing

The Market Composite Index, a measure of mortgage loan application volume by the Mortgage Bankers Association’s (MBA) weekly survey, increased by 8.2% on a seasonally adjusted (SA) basis from May to June. In comparison to June 2023, the index is up by 1.0%. The Purchase and Refinance indices, over the month, are up by 4.1%.

Mortgage 103
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Lamacchia Realty buys Berkshire Dream Home in Massachusetts

Inman

The deal marks the seventh purchase in 12 months for Massachusetts-based Lamacchia Realty as it signals acquisitions across New England in 2025. "I want to triple that in the next 12," CEO says.

Realty 172
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4 Must-Have Features You Might Have Missed

GoForrmz

GoFormz is full of features and functionalities that can streamline processes – did you miss these? Are you seeking an easy way to streamline your form-filling experience or create more efficient digital forms? GoFormz offers a wealth of features and functionalities to enhance the digital experience of completing forms. Among these, four standout features can be incorporated into your digital forms today to strengthen data integrity, improve the form-filling process, and streamline data collecti

Design 78
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Kevin Sears opens up about NAR, the DOJ and a hectic year of travel

Inman

In his six months as president, Sears has racked up time in Washington with the DOJ, focused on the trade organization's future and traveled — a lot. He shared his takeaways with Inman ahead of ICLV.

Realtors 169
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Berkshire Dream Home Joins Forces with Lamacchia Realty

Lamacchia Realty

Lamacchia Realty is happy to officially announce that Berkshire Dream Home has joined the company. This great brokerage owned by Andy and Sarah Perenick serves all of the Berkshires of Western Massachusetts with a main office at 2 Depot St Dalton, MA. Berkshire Dream Home was the number one company in Berkshire County for the most real estate sales transactions in both 2022 and 2023 selling well over 300 homes each year.

Realty 74
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Embrace innovation in real estate: A call to action for industry leaders

Inman

The future of real estate lies in our industry's ability to innovate, adapt and align our brands with the evolving market landscape, PR and marketing expert Molly McKinley writes.

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Lamacchia Realty Ranks in RealTrends GameChangers for the Fourth Year in a Row

Lamacchia Realty

For the fourth year in a row, Lamacchia Realty has officially been named among RealTrends GameChangers! The professionals on this list are considered to be changing the game of real estate, as showcased through high growth rates. The qualifiers for GameChangers are chosen based on five-year transaction side percentage data from the RealTrends 500. Lamacchia Realty ranked #15 in growth among the fastest-growing private independent brokerages.

Realty 64
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What’s the most unprofessional thing you’ve seen an agent do?

Inman

Professionalism (or a lack thereof) is important everywhere — on social media, on the phone and face-to-face, but which agents are putting their worst out into the world?

Agents 146
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Inman Releases New Interview with Kevin Sears

Lamacchia Realty

Sears Real Estate/Lamacchia Realty Springfield Broker Associate and NAR President, Kevin Sears , was recently interviewed by Inman. In it, Kevin discusses his presidency of the National Association of REALTORS®, the DOJ, and more! To read the full interview , click here or on the image to the right. Additional Press Anthony Lamacchia Highlighted as “An Outspoken Voice for the Real Estate Industry” in a New Article from MSN July 5, 2024 Read More » Lamacchia Luxury Listing is Named B

Realty 54
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3rd round of layoffs at Newrez brings 2024 job cuts to 750

Inman

After cutting nearly 500 jobs after Computershare acquisition, lender to eliminate another 277 positions in August, including senior executives in Colorado, Arizona and Florida.

Mortgage 139
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How I’m Able to Find Success in Real Estate Even Without Securing Great Deals

BiggerPockets

Success in real estate does not require securing “great deals.” It requires great fundamentals: location, a reliable tenant segment, and properties that attract those tenants.

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5 tips for advertising rentals through portals and social media

Inman

RentRedi's Ryan Barone offers strategies for branding and marketing rental properties across a variety of digital platforms.

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Mortgage agent allegedly secures unauthorized loan to steal equity

Mortgagebroker News

Elderly and non-English speakers among alleged victims

Agents 75