Fri.Jun 02, 2023

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Jobs data shows the truth about the labor market

Housing Wire

We’ve had some odd job reports over the years, but the key is to always follow the trend. That’s especially important with Friday’s data , which showed 339,000 jobs were created in May even while the unemployment rate increased. As someone who wrote that we should get job openings toward 10 million in this expansion, I am always mindful of my other labor talking point.

Marketing 450
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Federal plan aims to root out racial bias in home appraisals

Real Estate News

The PAVE task force, a joint venture of HUD and other agencies, presented an action plan to address appraisal bias and increase diversity in the industry.

Appraisal 260
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May jobs report complicates things for the Fed

Housing Wire

The Federal Reserve already had some tough decisions to make at its meeting later this month and the May jobs report is not making things any easier. Job growth surprised economists yet again in May, with total nonfarm payroll employment rising by 339,000 jobs compared to April , according to data released Friday by the Bureau of Labor Statistics.

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Buyers most likely to turn to agents with financing questions

Real Estate News

A survey of homebuyers reveals which parts of the financing process buyers understood the least, and how agents can add value through financial education.

Finance 223
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Polly appoints Cheryl Messner as chief customer officer

Housing Wire

Polly , a leading provider of innovative mortgage capital markets technology , recently announced the appointment of industry veteran Cheryl Messner as chief customer officer (CCO). Messner, who has extensive experience and expertise in mortgage fintech , joins Polly as the company experiences significant growth and adoption in the industry. “Polly has revolutionized traditional pricing and loan delivery, while simultaneously establishing an unmatched reputation with their customer partner

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Zillow to showcase agents, lenders in new ad campaign

Real Estate News

The company wants consumers to think of the search portal as an all-in-one destination for not only homes, but also real estate pros.

Agents 219

More Trending

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Will AI replace real estate agents?

Inman

While AI has the potential to automate and certainly enhance many aspects of the real estate industry, writes California Realtor Ken Sisson, it is unlikely to replace human agents completely anytime soon.

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U.S. Adds 339,000 Jobs in May

Eyes on Housing

Job growth accelerated in May. Total payroll employment rose by 339,000 and the unemployment rate rose to 3.7%. While labor demand remained strong, wage pressures eased from a year ago. In May, wage growth slowed to a 4.3% year-over-year gain, from 4.4% last month, and down 1.6 percentage points from a 5.9% gain in March 2022. Total nonfarm payroll employment.

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ChatGPT plugin to empower Zumper search experience

Inman

Machine learning has been a component of Zumper's overall solution for some time, but its ChatGPT use will enhance consumer-facing interactions primarily in terms of search, according to the company.

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Lamacchia Realty Named in RealTrends Game Changers for Third Year in a Row

Lamacchia Realty

Under the leadership of Anthony Lamacchia , Lamacchia Realty was named among RealTrends GameChangers for the third year in a row! These professionals are considered to be changing the game of real estate, as exhibited by high growth rates. GameChangers are chosen based on five-year transaction side percentage data from the RealTrends 500. Lamacchia Realty had the second-highest growth rate among private independent brokerages.

Realty 73
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SEE: Inside ‘Fifteen,’ The Agency’s first-ever NYC luxury condo project

Inman

The brokerage launched sales this week for its first-ever luxury condo new development project in The Big Apple. Sales agent Shane Boyle filled Inman in on all the juicy details, including the unparalleled views.

Brokerage 157
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Inspection-Based Appraisal Waivers – Fannie Mae’s Latest Attempt To Eliminate Appraisers

JMV Lending

Both Fannie Mae and Freddie Mac are pushing their latest attempt to bypass appraisers – with what are called “inspection-based appraisal waivers” or “Value Acceptance + Property Data Collection” findings. There are now so many different types of appraisals and property valuation options that I thought I’d list many of them here and explain them […] The post Inspection-Based Appraisal Waivers – Fannie Mae’s Latest Attempt To Eliminate Appraisers appeared first on JVM Lending.

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UrbanDigs launches custom advisory service for NYC agents

Inman

Reports from UD Advisor examine listings and specific situations with hyper-local market data, relevant sales and custom analytics from UrbanDigs to provide agents with actionable, data-based recommendations for their businesses, Inman has exclusively learned.

Agents 156
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From Living in a Van to Conquering One of America’s Most Expensive Markets

BiggerPockets

“I was willing to make the short-term sacrifice of living in a van for the long-term benefit of living the way I want to.” Could you do this? Read this inspiring story of an investor who came from humble beginnings.

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Robert Reffkin’s mom, Ruth, has joined Compass’ Garson Team

Inman

The senior Reffkin's move to the social media-forward team will create a cross-generational collaboration that capitalizes on combining varied skill sets to best help clients, Inman exclusively learned.

Clients 148
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Rents Exceed Housing Payments In Just Four Markets—Are The Days Of Cash Flow Over?

BiggerPockets

With rising mortgage rates, finding cash flow has only gotten harder. What is it about these four markets that you can cash flow?

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Your Inbox Zero obsession won’t make you a better agent

Inman

In his first column for Inman, Jay Papasan, the co-author of "The One Thing," says that while Inbox Zero is held up as a productivity ideal, it's not necessary for streamlined email management.

Agents 148
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9 States With No Income Tax

BiggerPockets

Investing in these states with no income tax may allow you to keep more money in your pocket each year.

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Hiring in real estate ramps up — but lags behind other industries: Labor

Inman

May was a strong hiring month for the U.S. as a whole. But in a down market, real estate didn't quite keep pace, according to new jobs data released Friday by the Bureau of Labor Statistics.

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What's the key to lending in current climate?

Mortgagebroker News

Economic uncertainty and fluctuations in prices and sales mean keeping tabs of the latest trends is essential

Lending 67
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A 4-decade first, TopProducer rolls out lead-gen features

Inman

"Before coming to the market with our first lead product to connect consumers with real estate professionals, we wanted to create even more meaningful conversations for agents by enhancing our proven lead engagement technology," TopProducer's Kerm Foltz said.

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Changes Announced by Interagency Task Force Will Affect Appraisal Industry

National Association of Realtors

Check out several important changes announced by the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) that will affect the appraisal industry.

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Mortgage rates ease on debt deal, but jobs report fuels inflation fears

Inman

Friday's strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to "hike, skip or pause.

Mortgage 147
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Toronto real estate market sees price surge as buyers return

Mortgagebroker News

Stabilized interest rates fuel increased demand in city's housing market

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Tick, tick, boom: The Download on the bombshell commission suit

Inman

Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: We move a step closer to the courtroom as the bombshell lawsuit's judge sets a window for scheduling the upcoming trial.

Brokerage 147
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Pretium Partners to acquire 4,000 D.R. Horton rental homes in $1.5B deal

Housing Wire

Real estate investment management firm Pretium Partners is acquiring thousands of homes from home construction company D.R. Horton Inc. in a $1.5 billion deal, as Bloomberg first reported. The deal includes a combination of completed homes and homes that are not yet finished, according to the outlet, which cited people familiar with the transaction who asked not to be named.

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Apartment at Jay-Z’s former ‘stash spot’ lists for $1.4M

Inman

The two-bedroom apartment at 560 State St. in the Boerum Hill neighborhood is in the building eulogized by the rapper as his former "stash spot" in his 2009 hit "Empire State of Mind.

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How severe might a Canadian economic downturn be?

Mortgagebroker News

A recession may be in the cards – but a meltdown appears unlikely

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Airbnb sues New York City over ‘de facto ban’ on short-term rentals

Inman

Readers who prioritize second homes and investment properties turn to Inman’s weekly Property Portfolio email newsletter, whether they’re agents who work with this special class of clients or investors themselves.

Investors 147
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Hidden Costs to Uncover Before Moving to a Presumably Cheaper Part of the US to Live

Eppraisal

Deciding to relocate to a supposedly more affordable area in the United States can be an enticing prospect, as it promises lower living costs and potentially greater financial freedom. However, before packing your bags and heading to that seemingly affordable destination, it is essential to consider the hidden costs that may arise. While the cost of housing might be lower, several factors can contribute to a higher overall cost of living.

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SphereBuilder, another social media engine or something more? Tech Review

Inman

SphereBuilder offers listing marketing, marketing analytics, ideas for improving your online presence and a host of features to produce and measure digital marketing.

Marketing 147
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Rookie Reply: The One Thing You Need to Pay $0 in Income Tax

BiggerPockets

Want to pay ZERO taxes next year?

Legal 68
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Quality control standards for AVMs may cover discrimination

Inman

Proposed standards would include random sample testing and reviews to ensure a "high level of confidence" in the estimates produced by AVMs.

Valuation 148
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Newgen software Loan Origination System Review

Mortgagebroker News

This Newgen software loan origination system review will help you determine whether or not it is the right LOS for your company

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