Thu.Dec 01, 2022

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How smart home technology increases property value in a challenging market

Housing Wire

Over the past few years, we’ve seen an increased demand for smart home technology as consumers continue to embrace a digital lifestyle. “Smart home technology, whether it be keyless entry locks, smart thermostats or leak sensors, these are all things that, five or six years ago, were still pretty new to the marketplace,” said Andre Sanchez, COO of Rently, a smart home and self-guided touring solutions provider.

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AD&C Balances Continue to Rise

Eyes on Housing

Residential construction loan volume reached a post-Great Recession high during the third quarter of 2022, as home building activity and new home sales remained weak. Outstanding builder loan balances are rising as development debt is being held longer as new homes remain in inventory longer. Loan balances will decline in coming quarters as the development loan market becomes more costly.

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Wells Fargo makes further deep cuts to its mortgage division

Housing Wire

Wells Fargo , the largest depository mortgage lender in America, cut hundreds of home lending jobs across the country on Thursday. Bloomberg first reported the news of the layoff, which is just the latest round of cuts for a lender that’s been open about its retreat from the upper echelon of the mortgage rankings. The company declined to state how many jobs were shed on Thursday.

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Buyers Waited for Falling Prices? Big Mistake

Empire Appraisal Group

Buyers Waited for Falling Prices? Big Mistake. Source: Buyers Waited for Falling Prices? Big Mistake | Florida Realtors. Some buyers waited for bargain homes that appeared after the Great Recession – but to counter higher mortgage rates, year-to-year prices have to drop 45%. CHICAGO – Despite slowing or falling home prices, rising mortgage rates are responsible for many first-time buyers still finding homes unaffordable.

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Fintech Hitch launches new HELOC platform

Housing Wire

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday. One of the biggest benefits for Hitch users is speed, the company said.

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Bea Murphy and Tina Davis-Chiruna Honored at the 2022 South Shore REALTORS® Installation, Awards and Holiday Gala

Lamacchia Realty

November 30, 2022 – Our Braintree area REALTORS®, Bea Murphy and Tina Davis-Chiruna were both honored at the South Shore REALTORS® Installation, Awards, and Holiday Gala. Firstly, Bea Murphy was awarded the Spirit Award which is given to a REALTOR® that supports and encourages other industry peers through words and actions. This award is definitely fitting for Bea who is always willing to lend a helping hand, whether it be setting up training for newer agents or organizing a fundraiser to

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How Appraisal Management Companies Aid the Appraisal Process

Kairos Appraisal Services

The home appraisal is a key part of any home sale transaction, assuring the lender that they are not issuing a mortgage for more than a property is worth. Lending regulations restrict the borrower, mortgage broker, or lender from choosing which appraiser conducts their home inspection and prevents direct communication between these parties. An appraisal… The post How Appraisal Management Companies Aid the Appraisal Process appeared first on Kairos.

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Mortgage Coach integrates with Polly’s PPE

Housing Wire

Sales Boomerang and Mortgage Coach announced an API integration between Mortgage Coach and SaaS technology provider Polly on Thursday. Real-time data from Polly’s cloud-native Product and Pricing Engine (PPE) will feed into Mortgage Coach Total Cost Analysis (TCA) presentations through this integration, providing home loan comparisons for borrowers.

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The Ultimate Airbnb Analysis Tool for 2023

Mashvisor

Are you looking for an Airbnb analysis tool to use before investing in short-term rentals in 2023? Read on to discover the best online tool.

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Expansion-hungry Guild gobbles up Inlanta Mortgage

Housing Wire

San Diego, California-headquartered retail lender Guild Mortgage is staying true to its words of expanding through acquisitions. The company announced on Thursday it has acquired the Wisconsin-based lender Inlanta Mortgage – which earlier that day said it would be winding down operations in 2023 – to increase its purchase loans portfolio and its market penetration in the Midwest.

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Mandy Kaur Sworn in as President of Women’s Council of REALTORS® for 2023 Year

Lamacchia Realty

November 30, 2022 – The Women’s Council of REALTORS® Northern Region held their event “Installation of 2023 Governing Board and Holiday Networking” where Lamacchia Realty’s own Mandy Kaur was sworn in as President for the 2023 year. As President, Mandy will plan and execute networking events for the group, be an educator for all members, and lead the organization based on their values of success, harmony, and achievement.

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[Updated]: Inlanta Mortgage to wind down operations

Housing Wire

Editor’s note: Following publication of this story, HousingWire learned that Guild Mortgage had struck a deal to acquire Inlanta Mortgage. For more details, click here. Wisconsin lender Inlanta Mortgage announced plans to shut down next year after laying off 62 employees. Inlanta was planning to expand in the summer, but the company failed to stay afloat amid worsening market conditions. “Due to the dramatic and unanticipated drop in mortgage product demand, business circumstances ha

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New Redfin Report Shows Which Housing Markets Are Gaining—And Losing

BiggerPockets

If you read anything about the housing market during the pandemic, you will remember a few metro areas that became the fastest-growing hotspots. Now, according to a recent report by Redfin, […].

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HousingWire Magazine: December 2022/January 2023

Housing Wire

Brena Nath, Director of HW+ and Events. AT THE END OF EACH YEAR I always get nostalgic looking back on the key moments that defined the year. 2022 was a unique one, as much of the year served as a transition. We were coming off a housing market like nothing we have ever seen before — with the years prior establishing record-setting origination volume.

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Did High Interest Rates Kill Off House Flippers?

BiggerPockets

House flipping was almost a guaranteed win in 2020 and 2021. With home prices steadily rising and interest rates dropping, throwing on a new coat of paint was often enough […].

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HousingWire Magazine: December 2022/January 2023 Supplement

Housing Wire

Maleesa Smith. IF YOU’RE LISTENING to the objectively smart voices in the industry, I hope by now you’ve heard the refrains of “win in any market,” “lean into the chaos” and “growth mindset.”. If you haven’t, I urge you to do a quick audit of everyone you follow. (Quick plug: My team is producing content on HousingWire.com and RealTrends.com every week that helps you build your business, and some of that includes curated lists of folks to follow on every social media platform.

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Lenders Are Feeling The Correction Too—Can You Still Get Your Deals Funded?

BiggerPockets

It’s pretty safe to say we’re amidst a market correction. While some may challenge whether or not we’re in a true recession yet, the fact remains that the real estate […].

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'Pick up the phone': exec urges further broker-lender communication

Mortgagebroker News

Brokers might be surprised by how much a lender can help them rather than giving a simple 'no', says CEO

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Finance Friday: My Home Renovation Put Me in a HELOC Hole

BiggerPockets

The house hack strategy doesn’t always run smoothly. Turning an old home into a modern, rentable masterpiece takes money—especially if you’re doing a big renovation. One of the easiest ways […].

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What are the top trends at play in Canada's mortgage market?

Mortgagebroker News

The shifting 2022 landscape has seen plenty of new developments in the mortgage space

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The State of Commercial Real Estate in Mt. Vernon/Midtown Baltimore

Willowbrook Valuation

At Willowbrook Valuation, we are highly experienced when it comes to analyzing commercial real estate in the Mid-Atlantic region. Furthermore, our team is proud to explore both major urban centers and up-and-coming small towns like Frederick and Towson, MD. Last month, we explored D.C.’s vibrant “East End” community, and now we’d like to turn your […].

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M3 announces partnership with FundMore

Mortgagebroker News

"This will separate our brokers from the industry pack," says CEO

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Forget About Excel! Use a Rental Property Cash Flow Calculator

Mashvisor

Real estate investing requires lots of research. It can be made easier with a rental property cash flow calculator in Excel or, better, Mashvisor.

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Canada's mortgage market – examining what's hot and what's not

Mortgagebroker News

Consumers are turning away from one type of rate, according to report

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Introducing the 2022 HW Tech Trendsetters!

Housing Wire

While 2022 has been a challenging year for housing, one thing we have learned is that periods of crisis can also be the driving force behind innovation and progress. This year’s 2022 HousingWire Tech Trendsetters have a long list of achievements that are driving the industry’s digital transformation. These tech execs aren’t just streamlining mundane practices, they are helping to tackle major, industry-wide issues like housing equality, racial bias and finding ways to help under-served markets t

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Be recognized as an employer of choice

Mortgagebroker News

Canadian Mortgage Professional invites readers to nominate their organizations

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Fed’s Beige Book predicts further uncertainty for the housing market  

Housing Wire

Interest rates and inflation continued to dampen activity in the housing market across all 12 Federal Reserve districts, according to the Fed’s latest Beige Book. “Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”.

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Ontario promises to address funding gap caused by housing law

Mortgagebroker News

A third-party audit of municipal finances will be launched

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3 Trends Impacting Human Resources Teams in 2023

GoForrmz

Nobody said HR functions were easy, but they can be well-managed Human resources teams have their work cut out for them. They’re about more than just filling out an employee evaluations form , though that’s a distinctive part of what they do. HR professionals are about creating and maintaining a company culture, all the way from an employee’s point of hire to their retirement.

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Three banking giants release financial results

Mortgagebroker News

Find out how CIBC, BMO and TD fared

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Apartment Absorption Rate Reaches 25-year High

Eyes on Housing

Data from the Census Bureau’s latest Survey of Market Absorptions of New Multifamily Units (SOMA) indicates that the multifamily market remained strong during the second quarter of 2022 due to high demand. With low single-family housing supply and increased unaffordability of for-sale housing, many would-be buyers have turned to or remained in the multifamily rental market.

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National Bank reports Q4 financials

Mortgagebroker News

Higher provisions slow quarterly profit

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How to make your listing more competitive & maximize success as a seller (with Julie Daniels, scaled ListingSpark’s customer success team to handle over 1400 transactions annually) – Real Estate Real Fast EP8

Listing Spark

Episode overview. If you want to sell your home during a down market, you’re going to need to be strategic about how you list your home. There are lots of things you can do to get to a successful close but is everything that you spend money on worth it? What can you focus on to maximize your success as a seller at the lowest price? What do you need to prepare before listing your home to be successful?

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October Private Residential Spending Falls

Eyes on Housing

Private residential construction spending declined 0.3% in October, as spending on single-family construction dropped 2.6%. Private residential construction spending fell for the fifth consecutive month, standing at an annual pace of $887.2 billion. This was about 8.6% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction.