Fri.Feb 24, 2023

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New home sales continue to climb in 2023

Housing Wire

New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022.

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Swanepoel's Inner Circle: Real estate's journey to the big leagues and big money

Real Estate News

The residential real estate industry has seen epic growth from the days when home computing was new, and the top brokerage did $2.2 billion in annual sales.

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Mortgage delinquency rates improve across the board

Housing Wire

Mortgage delinquencies were down across the board in January, with the overall national delinquency rate declining to 3.38%, a drop of 10 basis points from December, according to Black Knight ’s month-end mortgage performance statistics. National delinquency in January declined 15.1% compared to the same period last year. The number of borrowers 30-days late decreased by 46,000, or 4.8%, from the previous month, while serious delinquencies – which refer to 90-plus days past due – improved again,

Mortgage 397
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Home values have dropped from 2022 peak, opening doors for buyers

Real Estate News

A new Redfin report found the total value of U.S. homes has dropped $2.3 trillion since June 2022, with the biggest declines in the San Francisco Bay Area.

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FHFA delays implementing new products rule (sort of)

Housing Wire

The Federal Housing Finance Agency (FHFA) has delayed implementing a rule that would have required Fannie Mae and Freddie Mac to obtain approval from the regulator before implementing new products or services. The rule, issued on Dec. 20, was previously slated to go into effect on Monday, Feb. 27, but has been postponed to April 28, the FHFA said Friday morning.

Business 383
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Tech Bytes: CoreLogic snags mortgage firm, Revive acquires HomePrep, more

Real Estate News

CoreLogic to improve lender data with acquisition of Roostify, WARDEX adds listings tech, two renovations companies merge, Chime touts success of AI chatbot.

More Trending

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Volunteerism and mentorship cornerstones of NAR award programs

Real Estate News

Volunteering Works and the Good Neighbor Awards recognize real estate agents who donate their time and skills to community organizations.

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Industry leaders are working on successors to Covid-19 partial claims  

Housing Wire

Housing sector leaders acknowledge that some borrowers are still struggling to pay their mortgages after being hit by layoffs and other issues caused by the Covid-19 pandemic. In addition, many borrowers’ financials have since been further impacted by events such as natural disasters, rising inflation or job loss. That’s why industry leaders are working on new solutions to the loss mitigation toolkit, including successors for the Covid-19 partial claim options.

Mortgage 381
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How to put AI to work to make more money in your real estate business

Inman

ChatGPT is poised to become a truly disruptive technology — if you know how to use it. As she wraps up this three-part series, Bernice Ross talks with Jeff Lobb about specific content marketing use cases for ChatGPT.

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Progress now or perfect later: Improving the appraisal process

Housing Wire

Have you heard this phrase before — “perfect is the enemy of good”? Or “perfect is the enemy of done”? I hear these phrases quite often when it comes to product and software development, but I think they apply very well to solving complex problems like transforming the property appraisal process to work better for every stakeholder. The recent Appraisal Subcommittee (ASC) hearing and the premiere of “Our America: Lowballed” hosted by the Brookings Institution delved deep into the numerous concer

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New-home transactions roar to life with strongest sales pace in a year

Inman

A dip in mortgage rates and a backlog of empty homes helped power sales of newly constructed houses for the second-straight month in January, according to data released Friday by the U.S. Census Bureau.

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Nominations for the 2023 Rising Stars close today!

Housing Wire

10 years ago, HousingWire kicked off the first ever Rising Stars award and since then, the program has been showcasing massive talent in housing year after year. The award recognizes leaders and young talent who are moving markets forward through a variety of roles in the housing economy. And this year, HW Rising Stars is combining forces with the RT Emerging Leaders award to recognize leaders 40 years and under in all categories of house — including real estate.

Realty 368
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BHHS Chair on housing market angst: ‘This too shall pass’

Inman

No matter what the market's doing, the way you show up is the biggest factor in determining your outcomes. Jimmy Burgess talks with Gino Blefari, CEO, HomeServices of America and Chairman, Berkshire Hathaway HomeServices, about where we've been, where we are and where we're going next as individuals and as an industry.

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Reasons To Get An Appraisal

Padove Appraisal Service

There are several reasons why someone may want to get a real estate appraisal: Buying or selling a property: If you are buying or selling a property, an appraisal can help determine its fair market value, which can be useful in negotiations and setting a listing price. Financing: If you are financing your purchase or refinancing your existing mortgage, your lender may require an appraisal to ensure that the property’s value is sufficient to secure the loan.

Appraisal 148
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Rupert Murdoch drops $30M on full-floor pad, Central Park views

Inman

Murdoch, the News Corp founder and business magnate, has signed a contract to buy the entire 27th floor of the Hampshire House in Manhattan. It's only his latest purchase in recent years.

Contracts 158
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GoFormz's Answers to Your Top Digital Form Questions

GoForrmz

Your top questions about digital forms answered Digital transformation is redesigning the way businesses work. Within the last three years, there’s been an increase in remote work and reliance on up-to-date technology. That’s where digital forms come into play. Digital forms have helped many different industries streamline their daily processes and eliminate manual paperwork.

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It’s a tool, not a solution: What top pros are saying about ChatGPT

Inman

Unchecked and unregulated AI has the potential to blur the lines of authorship and ownership, at the very least. Perhaps the less obvious reason to proceed with caution is ownership of your voice and not abdicating your unique expertise and value to a bot.

Tools 153
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5 Useful Appraisal Technology Webinars (Exclusive to Members)

McKissock

Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide variety of online resources for real estate appraisers. These include appraisal webinars, job aids, checklists, classes, and much more. Below is a list of five useful appraisal technology webinars available right now in our membership toolkit. If you already have an Unlimited Learning Membership, you can access all of these appraisal technology webinars for free under the “Learning Library” tab in your membership dashb

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You plus ChatGPT: 3 ways to upgrade your Instagram content

Inman

Trying to figure out how to use AI without creating generic-sounding content? Social media expert Michelle Berman-Mikel shares three ways that you can use ChatGPT for Instagram without automating yourself out of personal connections.

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5 Useful Appraisal Technology Webinars (Exclusive to Members)

McKissock

Here at McKissock, our Unlimited Learning Members enjoy 24/7 access to a wide variety of online resources for real estate appraisers. These include appraisal webinars, job aids, checklists, classes, and much more. Below is a list of five useful appraisal technology webinars available right now in our membership toolkit. If you already have an Unlimited Learning Membership, you can access all of these appraisal technology webinars for free under the “Learning Library” tab in your membership dashb

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NAR rolls out 5th ‘That’s Who We R’ ad campaign after fee hike

Inman

The campaign's core message this year is "here for it all" with the aim of showing how the nation's more than 1.5 million Realtors work to make the dream of property ownership a reality.

Realtors 152
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What is Your Appraiser Level? Why Does It Make a Difference?

Appraisal Today

What Level Appraiser Are You? Beginner, Intermediate, or Pro? By McKissock Excerpts: How do we measure ourselves? What is the mark of an appraiser who is at the top of his or her “game”? Is it the letters behind the name (MAI, SRA, etc.)? The key is not the letters but the competency or skill. For example, are you competent to prepare an entire appraisal from start to finish?

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OJO CEO John Berkowitz on the AI revolution: ‘We’re in a hype cycle’

Inman

OJO founder and CEO John Berkowitz shares what a Chinese translation of "crisis" means for his company and what impact artificial intelligence might have on real estate.

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States With The Lowest Property Taxes In 2023

BiggerPockets

Property taxes can substantially impact how much you’re paying for your home and dig into your profits as a real estate investor.

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RealCheeky’s small brokerage transaction management solution needs work, but fundamentals are intact: Tech Review

Inman

RealCheeky isn’t necessarily a daily login. It’s a service provider that uses technology to deliver its transaction coordination service product after all pertinent paperwork is submitted.

Brokerage 141
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Rookie Reply: Building vs. Buying and Avoiding Capital Gains on a Sale

BiggerPockets

Weighing the costs and benefits of building versus buying rental properties? You’re not alone! When property prices go up, it makes sense that most of us start looking for loopholes.

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RE/MAX announces new campaign: ‘Unstoppable Starts Here’

Inman

The branding campaign intends to provide RE/MAX's wide network with a fresh, new look. It will gradually roll out through 2023, according to the company.

Marketing 156
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CIBC profits fall in Q1

Mortgagebroker News

The banking giant became the first of the Big Six to reveal its Q1 financial results for 2023

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Core’s Shaun Osher snatches up landmarked Long Island estate

Inman

The real estate brokerage CEO and his wife, Core Chief Operating Officer Brittley Wise, have bought a former working farm that dates back to 1893 for $3.

Brokerage 156
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How much house can a buyer get for $1 million right now?

Mortgagebroker News

New report sheds light on what a million-dollar home looks like across Canada

Buyers 68
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Wells Fargo lays off hundreds more, including some top producers

Inman

The bank says it has racked up $353 million in severance expenses as it closes branches and pursues a "more focused home lending business.

Lending 159
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Purchasing power remains high despite rate hikes

Mortgagebroker News

Impact of BoC moves has yet to significantly impact discretionary spending, RBC says

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What are Zillow, Keller Williams and Realtor.com investing in?

Inman

Major industry players discuss what the landscape of technology might look like in 2023, and where agents should focus their efforts.

Investing 150
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What you need to know about title and mortgage fraud

Mortgagebroker News

With Fraud Prevention Month approaching, what are the tell-tale signs?