Fri.Feb 17, 2023

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The power of data with Mike Simonsen

Housing Wire

Mike Simonsen, president of Altos Research , will share his data-focused insights on the housing market at Gathering of Eagles 2023. Join Simonsen and other data-obsessed attendees for a “Power Lunch,” on Tuesday, June 20. There’s no need to eat lunch alone at Gathering of Eagles. During Simonsen’s presentation, not only will you break bread with fellow housing industry leaders, but attendees will also get the latest information on the housing market and learn how that data can transform their b

Sellers 384
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Real estate tech firm forges ahead with power buyer program

Real Estate News

The software company zavvie has introduced its cash offer and buy-before-you-sell products to brokerages in 11 states, with plans to expand later this year.

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Divvy Homes reportedly makes another round of layoffs

Housing Wire

Rent-to-own startup Divvy Homes has reportedly conducted a new round of layoffs on Wednesday, which included cuts to a number of high-level positions. This is at least the second round of layoffs for the company in the last six months. Divvy has yet to confirm the layoffs, which were first reported by Inman. However, a number of former employees have posted to LinkedIn about the layoffs, and at least six employees were affected, including a software engineer and a senior project manager. “

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Brokerage Beat: Affiliations for BHGRE and Sotheby's Realty, a $44M sale, more

Real Estate News

A family business joins BHGRE, KW opens in Germany, Howard Hanna launches community-based mortgage company, SIR grows in Texas, and more brokerage news.

Brokerage 192
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Mortgage balances increased by nearly $1 trillion in 2022

Housing Wire

Americans’ debt balances continued to compound in 2022 as inflation put pressure on budgets and the cost of borrowing increased. Aggregate household debt, which includes all outstanding credit market debt held by consumers, increased by $394 billion in the fourth quarter of 2022 alone, according to the Federal Reserve Bank of New York ‘s Q4 Household Debt and Credit report — and mortgage balances were no small part of the equation.

Mortgage 370
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Market Share of All-Cash New Home Sales Hits 32-Year High

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that cash purchases made 11.2% of new home sales in the fourth quarter of 2022—the largest share since 1990. The share of cash purchases has climbed each of the past four quarters and six of the last seven. Although the median prices.

Finance 178

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ChatGPT is the tip of the iceberg: The future of venture investing

Inman

In Inman's latest Access class, watch Clelia Peters and Liza Benson discuss the new opportunities artificial intelligence technologies will bring to the real estate industry.

Investing 170
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Figure partners with NovaWulf on proposed reorg of crypto lender Celsius

Housing Wire

Fintech Figure Technologies will partner with NovaWulf Digital Management to provide blockchain technology solutions for a proposed reorganization of troubled crypto lender Celsius. The partnership was made public by Figure on Thursday and comes a day after an announcement from Celsius — which filed for bankruptcy in July 2022 — that it will be acquired by NovaWulf.

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Not a lot of clients right now? Here’s what you should be doing

Inman

The ebb and flow of the real estate business can be affected by the seasons, the economy and more. Luxury agent Amie Quirarte shares ways to weather the slow times while building your business.

Clients 157
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Real estate investors sat out the fourth quarter

Real Estate News

A recent report found a record drop investor purchases as interest rates rose and prices began to decline.

Investors 167
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Is real estate a good career path for you?

Inman

Money, glamour and excitement are part of a career in real estate, as are hard work, long hours and responsibility. Find out if you have what it takes to create and maintain a successful real estate practice.

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Confusing Language for USPAP Ethics Rule Addition

Appraiserblogs

A proposed update of professional guidelines for property appraisals contains confusing language about what constitutes discrimination, and would even suggest appraisers could engage in “ethical” discrimination. Folks, the following article is in the ABA Banking Journal e-newsletter, posted on Wednesday, February 15, 2023. I’m really glad this has been released.

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The secret is out! 23 ways Realtors can use ChatGPT

Inman

The agents who utilize this technology will become more efficient and productive, freeing up time for building the relationships needed to grow their businesses.

Realtors 164
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TAF president outlines specific appraisal challenges, 2023 outlook

Valuation Review

TAF president gives appraisal industry update.

Appraisal 120
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Redfin opens up Redfin Premier luxury services to homebuyers

Inman

Redfin Premier services will now be available to homebuyers across 28 markets. The brokerage also announced new designs for its Redfin Premier Agent profiles and listings.

Brokerage 157
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Ex-North Dakota bank prez and LO sentenced to prison for bank fraud

Housing Wire

Brady Torgerson, former president of First Security Bank-West , was sentenced to two years in prison for two counts of bank fraud he conducted between 2019 and 2021 when working for the North Dakota-based bank and Union Bank as a loan officer. Three others were also sentenced in connection to the fraud. When Torgerson was president of First Security Bank-West, he funded loans without obtaining necessary financial information, security interest documents or promissory notes, the U.S.

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One-time $100M Bel Air mansion falls to Earth with huge price cut

Inman

"Realistically in this market, this is what it's worth – it's priced to sell," said Shawn Elliott of Nest Seekers, one of the agents who listed the property last week.

Agents 157
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7 Questions to Help You Choose the Right Supervisory Appraiser

McKissock

Finding and picking a supervisor can be a challenge for trainee appraisers. When you’re breaking into the appraisal profession and figuring out what path you’re going to take, it’s important to advocate for yourself. Be proactive during the interview process by doing your homework and asking good questions to ensure you pick the right supervisor.

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New Black Knight integrations ‘close the loop’ on digital mortgages

Inman

Integration of Wolters Kluwer's eNote and eVault capabilities into Black Knight's digital closing solution, Expedite Close, eliminates the need for multiple vendors.

Mortgage 157
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7 Questions to Help You Choose the Right Supervisory Appraiser

McKissock

Finding and picking a supervisor can be a challenge for trainee appraisers. When you’re breaking into the appraisal profession and figuring out what path you’re going to take, it’s important to advocate for yourself. Be proactive during the interview process by doing your homework and asking good questions to ensure you pick the right supervisor.

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Berkshire Hathaway taps former Compass COO as strategic adviser

Inman

Brent Thomson has been hired as a strategic adviser for Berkshire Hathaway HomeServices Drysdale Properties as the company looks to expand its presence in California and Nevada.

Brokerage 148
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What Appraisers Wish Real Estate Agents Understood

Appraisal Today

What Appraisers Wish Real Estate Agents Understood McKissock Survey Question: “What’s one thing you wish real estate agents knew about the appraisal process? Top 10 most common answers The appraisal process is complex and takes time Appraisers do not assign value Appraisers are unbiased and must follow guidelines Appraisers need their input and cooperation How to select appropriate sales comps The importance of providing accurate and detailed info in their listings How to determine correct GLA (

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Plunk releases market data API, signs 3 proptech partners

Inman

Plunk envisions its data API assisting users in the same way a stock ticker does Wall Street investors, by helping them make critical decisions with the most prompt business information.

Marketing 148
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Mounting Commercial Real Estate Debt Has The Potential To Destroy Portfolios—Here’s What You Need To Know

BiggerPockets

Are you tracking the storm brewing in the commercial real estate realm? It’s not a big surprise. It happens in every downturn in one form or another.

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A reason for the luxury slowdown? We may be in a ‘richcession’

Inman

Luxury home sales slowed faster than lower-priced homes. Crypto, tech stocks and proptech values plummeted. Is the slowdown impacting wealthy buyers more?

Buyers 157
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CoreLogic: S&P Case-Shiller Index shows continued decline

Valuation Review

CoreLogic report shows continued declining numbers for November 2022.

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3 common listing agent mistakes (and how to avoid them)

Inman

Knowledge is power, so it's essential to know all there is to know about listings. Here's how to avoid the top mistakes listing agents make.

Agents 157
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Homeowner alleges sexual preference resulted in low appraisal

Valuation Review

Oregon homeowner claims sexual preference reason for low appraisal.

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Motto Mortgage opened offices at a record pace in 2022 as sales slowed

Inman

Double-digit growth in open offices was a bright spot for parent company RE/MAX Holdings, which reported a $2.6 million fourth-quarter net loss.

Mortgage 148
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Could Canada’s housing market heat up again?

Mortgagebroker News

Markets could be set to bottom out for sales and price declines this year

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Inman’s Top 5 stories of the week Feb. 10-16, 2023

Inman

Catch up on the most-read stories of the week, as determined by Inman readers. Here's Inman Top 5 for Feb. 10-16, 2023.

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Home purchasing power – how are Canadians faring?

Mortgagebroker News

New report outlines the current power of Canadians' dollars

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Task app KeyPleaz unlocks ways for agents to make more money: Tech Review

Inman

KeyPleaz is a showing and real estate task outsourcing app for iOS and Android operating systems.

Agents 156
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Crypto donations need appraisals

Valuation Review

Cryptocurrency donations now need appraisals.