May, 2024

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Majority of recent homebuyers have regrets: survey

Housing Wire

A report released this week by St. Louis-based Clever Real Estate found that recent homebuyers, as well as people who are considering a home purchase in the next year, are experiencing a laundry list of difficulties. Last month, Clever surveyed a total of 920 Americans about their views of the home purchase process and real estate agents. The respondents included 420 people who bought a home in 2023 or 2024, and another 500 who plan to do so in 2024 or 2025.

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CoStar CEO on Matterport deal: Virtual tours, real advantage

Real Estate News

Andy Florance discusses the “transformative technology” and his plans to rapidly expand the company while rolling out generative AI features later this year.

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Affordability Pyramid Shows 64.8 Million Households Cannot Buy a $250,000 Home

Eyes on Housing

As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional 106,031 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how.

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Mortgage rates headed under 7% on encouraging inflation data

Inman

Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports.

Mortgage 172
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Yolo County Market Trends for April 2024

Yolo Solano Appraisal Blog

My goal is to regularly produce local real estate market trend analysis on a monthly basis, focused on my primary markets of Yolo County and Northern Solano County. I’ll have Solano County analysis next week. I’ll also mix in relevant news and articles of interest.

Marketing 148
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Top Form Fields & Features For Small Businesses

GoForrmz

Originally published on 03/17/2017 Elevate your small business operations with these top form fields and features Operating a small business isn't easy; owners juggle numerous roles and duties typically assigned to a larger team. This perpetual multitasking entails striving to match established competitors and industry giants — a challenging endeavor, particularly when bogged down by manual administrative tasks.

Business 148

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Builder confidence takes a hit as rates, costs remain high

Real Estate News

Sentiment drops for the first time since November, with persistent inflation and concerns about new federal rules dampening builders’ outlook.

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Top Compromises Buyers Will Make to Reach Homeownership

Eyes on Housing

High mortgage rates and double-digit growth in home prices since COVID-19 have brought housing affordability to its lowest level in more than a decade. Given this reality, a recent NAHB study on housing preferences* asked home buyers about which specific compromises they would be willing to make to achieve homeownership. For 39% of buyers, accepting.

Buyers 165
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Your essential marketing toolkit for a post-NAR settlement landscape

Inman

Ready to transform the way you communicate your value to clients? Marketing expert Marci James helps you reshape the agent-client relationship by prioritizing clear communication and exceptional results.

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Vrbo Insurance Explained: Coverage Options for Hosts

Mashvisor

Imagine opening the doors to your cherished vacation home, only to find a scene of unexpected chaos: your stylish sectional sofa now sports unsightly tears, the walls are defaced with…

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Are Adjustable Rate Mortgages a Lifeline for Lower Rates? Or the Most Dangerous Thing You Could Do?

BiggerPockets

If, like me, you check mortgage interest rates like an expectant parent checks their wife’s contractions, you doubtless will have analyzed every type of loan product in an attempt to inch the […]

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Warren Buffett: Real estate agent commission structure “has worked out very well”

Housing Wire

Legendary investor Warren Buffett and Greg Abel, the CEO of Berkshire Hathaway Energy , addressed the commission lawsuits and HomeServices of America’s recently announced settlement of the suits, during Berkshire Hathaway’s annual shareholder meeting on Saturday. “There is no question that the industry will go through some transitions because of the settlements — ours and every other major player in the industry settled, the National Association of Realtors settled for more than $400 million ,”

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Judge approves commissions settlements for Anywhere, RE/MAX, KW

Real Estate News

Despite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.

Brokerage 273
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Olivia O’Toole Joins Lamacchia Realty as an Office Manager

Lamacchia Realty

Olivia O’Toole has joined Lamacchia Realty as an office manager in the Worcester County region. Olivia brings with her a strong foundation in real estate, having started her career in 2010 managing tasks and administrative processes for agents. She then co-founded and became the COO of a well-respected real estate company in Worcester County, helping to drive the company’s growth from 2013 to 2022 after which she ventured into consulting with her own firm, Synergy Coaching & Consulting

Realty 74
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Inaugural class of Inman Future Leaders in Real Estate revealed

Inman

The class of 45 honorees represents the real estate industry's brightest achievers under the age of 40. Future Leaders is the latest addition to Inman’s growing industry-leading awards program.

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Airbnb AirCover: What Hosts Need to Know

Mashvisor

Imagine checking in on your property to find that your couch has been ripped, your walls vandalized with graffiti, and your prized antique vase shattered on the floor.

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Detroit Beat Its Post-Pandemic Downtown Doom Loop—Here’s How Investors Can Benefit

BiggerPockets

A mayor in handcuffs, a bankrupt city mired in poverty, unemployment, and soaring crime: 10 years ago that was Detroit’s legacy. Today, it is a real estate success story.

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UWM cuts out title insurer with updated TRAC+ program, rolls out 0% down purchase initiative

Housing Wire

United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. As a result, brokers no longer need to deal with a title company or settlement agent to close a refi. The top U.S. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan.

Insurance 423
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Warren Buffett: Real estate is ‘fundamental’

Real Estate News

The Berkshire Hathaway CEO, along with Vice Chair Greg Abel, spoke about the HomeServices settlement and more during the company's annual shareholder meeting.

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The Solar Solution

Eppraisal

As the world pivots towards sustainable living, the residential real estate market stands at the forefront of this transformative shift, with solar energy emerging as a pivotal component in shaping the homes of tomorrow. For individuals navigating the dynamic landscape of home buying, selling, financing, or investing, understanding the multifaceted implications of integrating solar power into residential properties is essential.

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Buyers seek surprise injunction to halt commission suit settlements

Inman

The plaintiffs in a suit known as Batton 1 have filed for a temporary restraining order preventing the final approval of the Keller Williams, Anywhere and RE/MAX settlements.

Buyers 186
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A Guide to Channel Managers for Short-term Rental Hosts

Mashvisor

Running a full-time, short-term rental business isn’t for the weak. With constant check-ins and availability updates, hosting a vacation rental can easily become a full-time job.

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What Exactly Does a Property Management Company Do?

BiggerPockets

A property management company plays a vital role in overseeing the daily operations of rental properties to ensure efficient tenant management while maximizing profitability.

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Fidelity CEO says federal government’s title insurance proposals are ’misguided’

Housing Wire

Despite persistently high interest rates , big four title firm Fidelity National Financial recorded a much stronger start to 2024 than it did a year ago. In first-quarter 2024 , Fidelity reported total revenue of $3.299 billion, up from $2.474 billion a year ago. Its net earnings were $248 million, compared to a $59 million net loss in Q1 2023. The firm attributed its stronger results to better performance from both its F&G segment and its title insurance segment.

Insurance 438
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Keller Williams cancels plan to cut profit share for ex-agents

Real Estate News

President and CEO Mark Willis called the move “unprecedented," and said the vote by the company’s agent-led IALC passed by an “overwhelming majority.

Agents 233
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Lamacchia Realty Announces Top Producing REALTORS® for April 2024

Lamacchia Realty

Lamacchia Realty, Inc. has released its “Top Producing REALTORS®,” for April 2024! This program recognizes the Top 10 REALTORS® by company and the Top 3 or 5 REALTORS® by office with the highest transaction numbers or sales for the month! April 2024 Winners of the Top 10 for the Company are: Shauna Fanning has a passion and a drive for customer service and customer relations and has over 17 years in the field.

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Largest minority and women-owned brokerage in US joins Real

Inman

The Atlanta-based Village Premier Collection, led by Cheri Benjamin, has joined Real under its Private Label program. The company has roughly 500 agents and closed $665 million in sales in 2023.

Brokerage 191
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A Complete Guide to Airbnb Rules for Hosting

Mashvisor

Jumping into the world of short-term rental hosting can be intimidating. There are seemingly endless things to consider and rules to follow.

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The Small Business Owner’s Guide to Taxes, LLCs, Deductions, & Audit Risks

BiggerPockets

Starting your first or next business? This episode is for you. Today, we’re bringing you everything you need to know about small business taxes for beginners.

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FSOC recommends more regulation and liquidity for nonbank servicers

Housing Wire

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. It recommended increased regulation and initiatives to improve these companies’ liquidity during moments of stress, but mortgage trade groups have different reactions to the proposals.

Finance 439
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Down payments have doubled in the past 4 years

Real Estate News

The latest data points to some easing, but payments could hit a new peak later in the year. Regionally, payments are down in areas with rising inventory.

Inventory 245
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Beware of 'misconceptions' about MIC space, says executive

Mortgagebroker News

Idea that sector only works with bruised-credit and low-credit-score borrowers misguided, according to director

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A missed opportunity at NAR midyear

Inman

On the heels of the National Association of Realtors’ midyear meeting, broker-owner Teresa Boardman wonders why NAR doesn’t livestream (and engage) more members.

Realtors 178
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AirDNA vs. PriceLabs: A Comparison for Hosts and Investors

Mashvisor

The short-term rental market is booming, thanks to platforms like Airbnb, VRBO, and Booking.com.