April, 2024

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DOJ charges one of America’s top LOs in alleged mortgage fraud scheme

Housing Wire

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.

Mortgage 543
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Why is housing supply so low? Blame local zoning

Real Estate News

Two U.S. senators are pushing for policy changes that would reduce “exclusionary” zoning regulations and promote local development.

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Most Home Buyers Want One, Medium-Sized Home Office

Eyes on Housing

According to the latest What Home Buyers Really Want Study*, the vast majority of home buyers are looking for a home with at least one home office (or space dedicated to work/study). More specifically, 66% would prefer to buy a home with exactly one home office, 13% want at least two offices, and 20% want.

Buyers 217
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6 ways AI and blockchain will bring more deals to real estate agents

Inman

As the real estate industry continues to evolve, embracing the transformative potential of AI and blockchain technology to gain a competitive edge.

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Should You Invest for Cash Flow or Appreciation? Let’s Reevaluate in an Era of High Interest Rates

BiggerPockets

For real estate investors, the question of cash flow versus appreciation is as old as time. However, in an era of high interest rates, buying properties for cash flow isn’t easy.

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Trudeau teases potential mortgage rule changes before April budget

Mortgagebroker News

Could the government extend amortization limits as part of housing plan?

More Trending

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How are agents paid? Don’t ask buyers

Real Estate News

More than a quarter of consumers surveyed by Redfin don’t know how much their agent was paid, while nearly 20% weren’t sure who provided the compensation.

Agents 326
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Inflation Stays Hot as Housing Cost Growth Persists

Eyes on Housing

Consumer prices continued to rise in March, with shelter and gasoline prices driving over half of the total increase. This marks the third consecutive strong reading. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over 60% of the total increase in all items excluding food.

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DOJ can reopen its investigation into NAR, appeals court rules

Inman

In another loss for the National Association of Realtors, the court ruled the U.S. Department of Justice can reopen its investigation into rules around commission sharing.

Realtors 193
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Seven Reasons Why the Housing Market STILL Hasn’t Recovered From the Pandemic

BiggerPockets

The pandemic swept through the U.S. housing market like a tsunami. Radical price hikes and all-time low inventory accompanied massive migration away from pricey big cities.

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Loan delinquencies stir concerns among Canadian lenders

Mortgagebroker News

Unexpected job losses and increasing loan delinquencies signal potential troubles ahead

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Spring housing market gets more inventory

Housing Wire

Active weekly housing inventory growth slowed slightly last week, but it’s still running at a healthier clip than in 2023. I have a simple model with mortgage rates being above 7.25%: weekly inventory data should grow between 11,000-17,000 per week. Last year, we never hit that target. We have now seen it for two weeks as inventory grew by 13,247. Weekly housing inventory data We’ve now had back-to-back weeks of healthy housing inventory growth and spring 2024 is much healthier than spring 2023

Inventory 504
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Zillow offering 7-day ‘touring agreement’ for agents

Real Estate News

The NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.

Agents 313
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Highest Paid Occupations in Construction in 2023

Eyes on Housing

Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest May 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median wage is $48,060, while the top.

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30 listing lead generation ideas for a post-NAR settlement market

Inman

If you want to build the listing side of your business in the wake of the NAR settlement, Jimmy Burgess has 30 practical, actionable, doable strategies tailor-made for this moment.

Marketing 188
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Could Rehab Loans Replace Hard Money Loans for Investors?

BiggerPockets

As most house flippers or BRRRR landlords will tell you, paying for hard money—with high interest rates and points tacked on top—can take huge chunks of profit out of a project.

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Canada considers halal mortgages for Muslims in 2024 budget

Mortgagebroker News

Initiative aims to address the affordability challenges faced by Muslim homebuyers

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Finally, some healthy housing inventory growth

Housing Wire

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. This is something I talked about last week on Yahoo Finance.

Inventory 504
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DOJ can reopen its investigation into NAR, appeals court rules

Real Estate News

Ruling could lead to further changes in industry practices by allowing the Department of Justice to revisit an antitrust case originally settled in 2020.

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Building Material Prices Continue to Rise in March

Eyes on Housing

Inputs to residential construction, goods less food and energy, increased for the fifth straight month, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction.

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HomeServices of America agrees to pay $250M to settle lawsuits

Inman

HomeServices was potentially on the hook for the remaining $4.7 billion in damages from an Oct. 31 jury verdict in Sitzer | Burnett, which awarded plaintiffs $5.3 billion.

Brokerage 185
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Real Estate Investors: Use These Loans to Get Your Construction Project Across the Finish Line

BiggerPockets

This article is presented by CV3 Financial. Read our editorial guidelines for more information. The real estate market is ever-evolving, and there has been a growing trend toward ground-up construction.

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Edmonton's housing market continues to heat up

Mortgagebroker News

A busy spring is underway for mortgage professionals in the city

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Powell makes it clear: No rate cuts anytime soon

Housing Wire

Today, Federal Reserve Chairman Jerome Powell made statements at the Washington Forum that indicate there will be no rate cuts anytime soon because the economy and the labor market are too strong with sticky inflation. This is a change from previous statements where the Fed talked about the rate cuts it expected to make this year — although that timeframe has changed several times.

Retail 500
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What agents and brokers can — and can’t — do under new MLS rules

Real Estate News

Bright MLS legal counsel Brian Schneider explained the ins and outs of the NAR settlement rule changes. Here’s what real estate professionals need to know.

Legal 296
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Green Building: Resiliency Practices

Eyes on Housing

Green homes go beyond lessening their environmental impact; they also actively mitigate the effects of the environment upon them. All homes can face damage from environmental hazards, prompting builders to implement resiliency practices to reduce such risks. This post will detail the prevalence of resiliency building, specific practices by hazard, as well as resiliency certification.

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Underperforming agents are getting a real estate reality check

Inman

As the commission landscape changes, Side's Hilary Saunders writes, it's time for agents, teams and brokerages to look at the ways this will improve the industry's reputation.

Agents 191
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Don’t Overlook This When Buying an Investment Property—Learn From My Mistake

BiggerPockets

Let’s get one thing straight: Real estate investing isn't a get-rich-quick scheme. If you think you can just waltz in and start raking in cash without a solid game plan, you're setting yourself up for a financial face-plant.

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Housing crisis will worsen without imminent action, says RBC

Mortgagebroker News

Bank outlines 7-step solution to address supply and cost challenges

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Gen X is already looking for housing appropriate for aging in place

Housing Wire

Baby boomers are exhibiting an overwhelming desire to age in place in their own homes, but their children — largely members of Generation X — are also making their desires felt by seeking out homes that can accommodate their needs as they get older, according to a recent report from the New York Times. Citing 2021 data from the Harvard University Joint Center for Housing Studies that showed 88% of adults 65 and older are aging in place, many members of the following generation — primarily born b

Buyers 500
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Northeast and Midwest markets are still sizzling hot

Real Estate News

The regions continue to see significant price growth and elevated buyer activity, but national price growth is expected to slow this year as supply increases.

Marketing 293
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All-Cash Sales Dropped to Lowest in 3 Years

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase price of homes bought with cash continued to increase in.

Finance 161
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Sign a buyer brokerage agreement to see a property? No way!

Inman

Buyers and sellers are confused about the new rules of the road. Trainer Bernice Ross and Jeff Lobb discuss how agents can change up the conversation and add clarity and confidence.

Buyers 183
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BiggerPockets Investigates: Did Western Wealth Capital Cost Investors Thousands of Dollars?

BiggerPockets

How did this syndicator, with all of its promise and potential, fall from grace after several investors claimed they were burned? BiggerPockets set out to find out what went wrong, how it went wrong, and what it means to other investors.