Thu.Jan 12, 2023

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Mortgage rates have peaked along with inflation

Housing Wire

Today’s inflation data has shown that the peak growth rate of inflation is behind us. This should also mean mortgage rates hit their highs. The key phrase I have stressed since I wrote about the case for mortgage rates to go lower on Oct. 27 is thinking 12 months out. The trend is your friend, and the month-to-month data has cooled off noticeably. That cooling happened even with the biggest inflation component — shelter inflation — still rising in the lagged modeled CPI data.

Mortgage 527
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All the Tips You Need to Make Moving to a New State Much Easier

Cleveland Appraisal Blog

Are you planning on moving to a new state? There’s so much to think about. Employment, the cost of the move, buying a home, and many other things. This week, I welcome a new guest blogger, Ryan Mackenzie, who shares tips for making a move more manageable. I hope you enjoy it! So you have decided to move to a new state. Good for you! This is a chance to meet new people and experience a new culture.

Appraisal 304
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Optimism spreads across the mortgage industry at the start of 2023

Housing Wire

Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way. “The mortgage market began 2023 on a positive note, with a decline in mortgage rates leading to an uptick in refinance applications. Purchase activity was down again on a weekly and annual basis,” Bob Broeksmit, Mortgage Bankers Association (MBA) president and CEO, said in a statement.

Mortgage 479
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Good News: Inflation Continues its Cooling Trend

Eyes on Housing

Consumer prices in December saw the largest month-over-month decrease since April 2020. While still elevated, inflation experienced the third month below an 8% annual growth rate since February 2022. Moreover, this was the sixth consecutive month of a deceleration. However, the shelter index (housing inflation) continued to rise at an accelerated pace and was the largest contributor to the total.

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Opinion: seven things to look for in a home equity partner

Housing Wire

The refi boom is in our rearview mirrors and the road ahead looks promising for home equity volume. Who knows how high that volume could go, considering tappable equity is at a historic high of $11 trillion and total home equity at a record $27.8 trillion. Black Knight’s report of a $1.2 trillion spike in tappable home equity in the first quarter of 2022 was a stunner, especially as it topped off a 12-month period that saw a 34% collective gain among mortgage holders.

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Billionaire fashion mogul Tom Ford buys $51M mansion in Palm Beach

Inman

The founder and CEO of Tom Ford International bought the property after agreeing to sell his fashion label to Estée Lauder back in November, according to new reports.

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More Trending

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Inman unveils inaugural 2023 Power Players awards

Inman

With its inaugural Power Players list, Inman recognized more than 120 industry leaders for their influence and ingenuity as it kicks off a year of expanded awards.

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DOJ announces $31M settlement with City National Bank in redlining case

Housing Wire

Los Angeles-headquartered City National Bank agreed to pay $31 million in relief to impacted individuals and communities to settle a redlining case with the U.S. Department of Justice (DOJ), the parties announced Thursday. . City National was accused of the illegal practice of avoiding the provision of mortgage services to majority-Black and Hispanic neighborhoods.

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This city will be the hottest market of 2023, Zillow predicts

Inman

Zillow named this North Carolina city as its hottest market of the year, continuing the trend of cities with relatively warm climates taking the top spot, following Tampa in 2022 and Austin in 2021.

Marketing 157
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Following the Data: Marketing Decision Making

Housing Wire

Everyone in the mortgage and real estate industry is well aware of the shift in the market we experienced in 2022. Most, if not all, would describe the first half of 2022 and the last half of 2022 being two vastly different markets. . In the first half, there was record low inventory and high buyer demand due to low interest rates. This was quickly followed by hikes in the interest rates and a slowdown in the market in the last half.

Marketing 381
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‘The gate is beginning to open’: Big inflation drop may aid homebuyers

Inman

The once-frantic pace of consumer price growth has been slowing for months, which may bode well for buyers' budgets — and their financing, according to new data from the U.S. Bureau of Labor Statistics.

Finance 157
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Inflation cooled in December for the sixth consecutive month

Housing Wire

Consumer prices continued to climb, but at a slower pace in December, marking the sixth straight month of cooling inflation numbers. A slowdown in the pace of inflation is welcome news after the Federal Reserve raised interest rates to the highest level in over a decade. The Consumer Price Index (CPI) rose by 6.5% in December compared to one year ago.

Sellers 381
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What agents want in team culture (Hint: It’s not Top Golf and Taco Tuesdays)

Inman

The culture at your brokerage is key to retaining your team during this downturn. Livian CEO Adam Hergenrother says leadership needs to focus on production tools, not snacks and outings.

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Get ready for Gathering of Eagles 2023

Housing Wire

Get ready for Gathering of Eagles 2023. It is a new year filled with new opportunities and that is why the theme of this year’s conference is ‘Forging Opportunities.’. You and your teams have worked tirelessly through 2022 and into the new year. Even in a down market, you are finding opportunities for success and development as a housing industry professional.

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Rent growth slows to smallest rate since July 2021

Inman

While the 4.8 percent growth was still above historical norms, it’s the smallest increase since June 2021. Median asking rent in the nation’s 50 largest markets climbed to $1,979 last month.

Marketing 157
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New Black Knight portal offers access to APIs across the mortgage cycle

Housing Wire

Black Knight recently launched a web portal that enables clients, third-party providers and their developers to access the company’s application programming interfaces (APIs) across the mortgage life cycle. Dubbed the Developer Portal, clients can use Black Knight’s APIs to rapidly embed additional functionality within their applications, the company said in an announcement about the rollout.

Mortgage 379
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Brokerage executives predict falling profits, economic decline in 2023

Inman

Real estate leaders are pessimistic about the state of the economy, but nevertheless upbeat about their ability to take share in a chaotic market, according to a new survey from Delta Media Group.

Brokerage 157
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[Feature Update] An Improved Required Fields Experience

GoForrmz

Rapidly locate and complete Required fields you may have missed We’ve just released an exciting improvement to our Required fields feature within the GoFormz web application (our online experience). This update makes it easy to locate Required fields that have not been completed when submitting a form. What’s New? Digital forms cannot be completed when Required fields are left empty.

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Redfin adds energy cost estimates to listing information

Inman

The new feature, prepared through a partnership between the brokerage and Wattbuy, will display an estimate of the homes' monthly electricity bills and seasonal changes in pricing.

Brokerage 157
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Kara Murray Named Lamacchia Realty Employee of the Month – December 2022

Lamacchia Realty

Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.

Realty 71
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After a near 90% fall, analytics firm sees Opendoor shares rising to $6

Inman

A financial firm recently set a $6 price target for Opendoor stock. That price would be substantially higher than what shares are currently fetching.

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January 2023 Mortgage Rates: What to Expect

Mashvisor

As we enter the first month of the new year, plenty of homebuyers and real estate investors are keeping an eye on the January 2023 mortgage rates.

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Glenn Kelman calls millennials ‘the roommate generation’

Inman

For years, real estate professionals have looked to millennials to push the housing market forward as previous generations slow their homebuying and homeselling activities. However, several obstacles — overwhelming student loan debt, stagnant wage growth and skyrocketing home prices — have stifled millennials' homeownership dreams and turned them into what Redfin CEO Glenn Kelman calls "the roommate generation.".

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Why Selling Your Home in the Winter Can Help You Earn Top Dollar

Lamacchia Realty

WHY SELLING YOUR HOME IN THE WINTER CAN HELP YOU EARN TOP DOLLAR. When it comes to selling your home, timing is everything. While many people think that spring and summer are the best times to list a home for sale, there can be some great benefits to selling in the wintertime as well. In fact, Anthony predicts that homes placed on the market now will sell for more, and those who waited until the spring to sell will be frustrated when they aren’t able to get the same results as their neighbor!

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Is the housing market responsible for eXp’s lagging growth? The Real Word

Inman

This week, Byron Lazine and Nicole White are talking about the lagging growth at eXp, rising consumer confidence and the weekly media review Left, Middle, Right.

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Should You Invest in the Dallas Real Estate Market in 2023?

Mashvisor

If you want to invest in the Dallas real estate market in 2023, here are the trends and information you should keep in mind before doing so.

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This is the year when ‘agents have to go deep’: BHGRE’s Barry Jenkins

Inman

Barry Jenkins, Better Homes and Gardens Native American Group chief marketing officer, sat down with Inman ahead of his appearance at Inman Connect New York.

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The Wrath Of The Buyer’s Market Is Here—And Sellers Are Suffering

BiggerPockets

New data from Redfin shows that seller concessions, such as mortgage rate buydowns and cash credits for repairs and closing costs, are becoming increasingly common as high mortgage rates curb demand for […].

Sellers 60
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Christie’s strikes up new partnership with an old U.K. firm

Inman

Carter Jonas, a firm founded in 1855 with 34 offices throughout the country, will now become Christie's exclusive affiliate in the United Kingdom.

Realty 148
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Is Now the Best Time to Get Into the Stock Market?

BiggerPockets

Picking stocks can be intimidating for a first-time investor in the stock market. For landlords, real estate can seem like a much more tangible, calculated way to make money with […].

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The numbers you need to nurture buyers and sellers through a shift

Inman

When your clients are seeing doom-and-gloom headlines, it's important to be able to crunch the numbers and give them the facts.

Sellers 148
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How Key Law, partners use Treefort Technologies to prevent fraud

Mortgagebroker News

"We have proactive tools that can be used to chase away potential fraudsters at the initial stages of the mortgage application process.

Law 69
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It’s time to take millennial homebuyers seriously. Here’s how to win them over

Inman

Expert Luke Babich shares his best advice for agents who are looking to build relationships with millennial homebuyers. Your marketing messages should be different for each audience, and these tips should help you connect quickly for optimal results with this tech-savvy generation.

Agents 113
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The Money Show’s Guide to Personal Finance for Beginners

BiggerPockets

Mastering personal finance is one of the most important things anyone can do. If you know where your money is coming from, where it’s going, and how to make more […].

Finance 56