Wed.Jun 21, 2023

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Mortgage demand rises but remains way down from last year

Housing Wire

On the heels of the Federal Reserve pausing its rate hikes, mortgage demand increased, but only slightly. For the week that ended June 21, mortgage applications only climbed 0.5% from the prior week , according to the Mortgage Bankers Association. This slow growth highlights that while demand is there and rates have fallen for three consecutive weeks, activity continues to be constrained by low levels of affordable inventory.

Mortgage 370
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Agents Decoded: Is it time to switch brokerages?

Real Estate News

Your choice of brokerage can have a big impact on your career. There are plenty of good reasons (and some not-so-good ones) to consider making a change.

Brokerage 239
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Phil Shoemaker on lessons learned from Homepoint’s demise & The Loan Store’s future 

Housing Wire

Home Point Capital surprised the market on April 7 when it announced that the acquirer of its struggling mortgage origination business was a small wholesale shop few had even heard of. The Loan Store , based in Arizona and accustomed to originating about $20 million a month, was picking up the pieces of the third-largest wholesale lender in the country?

Business 370
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NAR CEO to retire in 2024

Real Estate News

Bob Goldberg announced that he will leave the role when his current contract ends.

Contracts 294
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FHFA sounds the alarm over GSEs’ ability to absorb losses

Housing Wire

The Federal Housing Finance Agency (FHFA) is sounding the alarm over a high risk-based capital shortfall for Fannie Mae and Freddie Mac , exceeding their risk-based requirements and elevated operational risks. This is according to FHFA’s 2022 Annual Report to Congress published earlier this month. “Despite considerable growth in each Enterprise’s loss-absorbing capacity (net worth), available capital remains in deficit, in large part because the Senior Preferred Stock issued by the Enterprises i

Finance 370
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Move to EBV? Standards: Credible v Reliable

George Dell

Standards: Credible v Reliable. Editor’s Note: This is Standards, part 3.4 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Here, we specifically note how the goal of having valuation standards can be updated to reflect today’s complete data, and computation analytics can be optimized for […] The post Move to EBV?

Valuation 150

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NAR CEO Bob Goldberg plans to retire at the end of 2024

Inman

Bob Goldberg's contract will expire Dec. 31, and the executive plans to retire after three decades at NAR and four decades in real estate, according to the National Association of Realtors.

Contracts 176
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CFPB spring agenda aims to tackle AVMs, overdraft fees, FCRA and more

Housing Wire

The Consumer Financial Protection Bureau (CFPB) has 11 different items in the pipeline in its section of the federal government’s 2023 spring regulatory agenda, released last week by the White House. While only a fraction of the total items on the agenda for the U.S. Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry.

Valuation 370
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Builders are back on track. Here’s what that means for real estate

Inman

It wasn't easy, but builders survived the market downturn without mass layoffs. And they've clawed their way back near normal sales levels.

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More women, women of color need to ‘stand up’ in CRE, advisor says

Valuation Review

Valuation Review concludes its conversation with Rachel Goldman, associate advisor for SVN Commercial Advisory Group, for more of her thoughts on a career in commercial real estate and the challenges she faced as a Black woman in the industry. Goldman emphasizes that working hard can make a difference. Read on for the conclusion of this feature story.

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Windermere buys former rival as agents ‘boomerang’ from eXp

Inman

The regional brokerage has purchased HK Lane, a 75-agent firm in the Coachella Valley, and welcomed back about 50 agents that were part of a team that left for rival eXp Realty in April.

Agents 155
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Understanding Appraisal Factors That Impact Home Sales: Insights for Real Estate Agents

Birmingham Appraisal

Helping Agents Understand Appraisal Factors That Impact Home Sales In the world of real estate, accurate property valuation plays an important role in the home buying and selling process. Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals.

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8 real estate team building strategies you need right now

Inman

To help you explore what's next, you'll have access to the best minds in real estate in one place at Inman Connect Las Vegas. Featured speakers include: Leadership Performance Coach Jon Cheplak, Keller Williams Team Leader Wendy Papasan, Sharran Srivatsaa, President of Real Brokerage, Tyler Elstrom, MAPS Coach of Keller Williams, Verl Workman of Workman Success Systems, Jeff Lobb of Sparktank Media, and more.

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Unbelievable Returns from Flipping This New Type of Real Estate w/Jessie Rodriguez

BiggerPockets

The real estate market is crumbling…or is it? According to experienced investors like Jessie Rodriguez, now is one of the best times in recent memory to start building wealth.

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Jumbo mortgage rates rise as lenders pull back

Inman

Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell's tough talk on inflation, but liquidity issues put pressure on bigger loans.

Mortgage 148
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FHFA: U.S. house prices rise

Valuation Review

U.S. house prices rose 4.3 percent between the first quarters of 2022 and 2023, according to the Federal Housing Finance Agency House Price Index. House prices were up 0.5 percent compared with the fourth quarter of 2022.

Finance 60
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May saw the lowest housing inventory in a decade: Report

Inman

The number of homes for sale in the United States fell 7.1 percent year over year to 1.4 million on a seasonally adjusted basis, according to Redfin.

Inventory 148
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FHA proposes initiative for struggling homeowners

Valuation Review

Recently, the Federal Housing Administration (FHA) posted for feedback on a proposal for a new home retention option to help struggling homeowners meet their mortgage obligations. The new option would allow mortgage servicers to use the FHA Partial Claim both to bring a borrower’s mortgage current and to provide temporary reductions to their monthly mortgage payments.

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DelPrete: Are agents at low-fee brokerages any less productive?

Inman

The dual hypotheses that low-fee brokerages aren’t sustainable, and that their agents are less productive, are false, Mike DelPrete writes.

Brokerage 147
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Facts surrounding VA loans, appraisals outlined

Valuation Review

There are a few things one needs to know when it comes Department of Veterans Affairs loan appraisals. Chase Bank outlined some of the basics to keep in mind when moving forward with these types of loans.

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10 tips for coaching your team to better results in any market

Inman

Coaching in a volatile market can be especially challenging. Here are 10 tips from author and coach Darryl Davis to help you coach your real estate team today.

Marketing 136
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CoreLogic: S&P Case-Shiller Index comeback evident for March

Valuation Review

S&P Dow Jones Indices recently released the latest results for the S&P CoreLogic Case-Shiller Indices. In March, the analysis showed a continuing recovery in housing prices, as all 20 major metro markets reported month-over-month price increases. Read on for more marketing numbers.

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Workman CEO: Team members are 80% more likely to stay in business

Inman

In a market like this, a culture of productivity helps keep agents in the industry, Workman Success Systems CEO Verl Workman told Inman Intel.

Business 135
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Florida passes appraisal lawsuit bill

Valuation Review

Florida Gov. Ron DeSantis signed three bills into law, amending some preexisting industry regulations, according to The Capitolist. HB 213 changes the statute of limitations and repose for lawsuits related to acts or omissions in the performance of appraisal services or appraisal management services. Read on to learn more about this appraisal legislation.

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What podcast are you addicted to right now? Pulse

Inman

Whether you love true crime, self-help or celebrity sitdowns, what podcast is your absolute favorite right now?

Agents 145
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Independence, conflicts of interest concerns expressed during bias hearing

Valuation Review

Valuation Review , who virtually attended the Appraisal Subcommittee’s (ASC) second hearing on appraisal bias and the appraisal regulatory system concludes its special feature on this hearing where witnesses gave testimony to the ASC panel assembled. The Appraisal Foundation (TAF), along with the Appraiser Qualifications Board and Appraisal Standards Board, seemed to be a verbal target for selected witnesses and panel members.

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Matterport’s Genesis doubles-down on digital twin management

Inman

Matterport, the company that commercialized 3D listing tours and made the industry familiar with the term “digital twin,” has set yet another benchmark for digitally immersive real estate marketing with the release of Genesis.

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Rent Growth is Negative For the First Time in Three Years—Is Your Cash Flow in Jeopardy?

BiggerPockets

Rent growth has been on a downward trajectory for a while now, but it finally crossed the negative line. What does this mean for investors?

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Pepper Lane townhomes in Berryessa

San Jose Real Estate

The Pepper Lane townhomes in Berryessa are young, stylish, and highly sought after. If you aren’t familiar with this community in San Jose, it’s worth knowing about! Why the Pepper Lane townhomes?

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Did We Reach the End of Rate Hikes? What Happened in Last Week’s Federal Reserve Meeting

BiggerPockets

The big news to come out of last week’s Federal Open Market Committee meeting was the group’s choice to forgo another rate hike.

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Ten Houses

San Jose Real Estate

As a general rule of thumb, home buyers who have clear criteria and priorities need to see ten houses before they are ready to write an offer. Some may be ready with fewer, say 7 or 8. Some may need a few more showings.

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Putting PropTech to Work For Your Real Estate Business

BiggerPockets

PropTech is a relative newcomer to the “Tech” suffix world; you may be more familiar with the more recognizable MarTech and FinTech terms.

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Labour market vacancies continuously shrinking: StatsCan

Mortgagebroker News

The number of unemployed Canadians has remained relatively stable since October 2022, according to the national statistics agency

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How to Find Who Owns a Property

BiggerPockets

Suppose you see a potential investment opportunity but don't see a for sale sign. We'll explain how to find out who owns a property.