November, 2024

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Why home prices are holding steady despite higher rates

Housing Wire

Home prices have remained firm over the last two months, even with higher mortgage rates and inventory data. Our weekly tracker data is created to look ahead of the traditional monthly reports such as Case Shiller and the NAR existing home sales report, and what I have seen over the past few weeks has shocked me. I want to show you how the data changed with mortgage rates heading toward 6% so the next time this happens, we have a better idea of what to expect in the housing market.

Mortgages 516
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Federal housing leaders want to see 'bold action'

Real Estate News

HUD and FHFA executives spoke recently about ways the federal government should get more involved in issues like zoning, mortgages, insurance and appraisals.

Mortgages 251
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The Majority of Veterans Are Unaware of a Key VA Loan Benefit

Keeping Current Matters

For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership.

VA loan 255
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Compass CEO Robert Reffkin: Zillow will be the national MLS

Inman

Reffkin continued his campaign against the Clear Cooperation Policy at the National Association of Realtor's annual NAR NXT conference during a "Future of the MLS" session Friday.

MLS 183
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Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

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Is Seattle’s rental scene hot or cold? Yes

Seattle Times Real Estate

While real estate professionals call the rental market “cool” and “balanced,” many renters use words like “brutal” and “absolute hell” to describe their search.

Marketing 134
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Op-Ed: The Next Wave of Lawsuits Will Be About Steering—Mark My Words

RIS Media

Above, Leo Pareja In the aftermath of recent lawsuits, the next major legal battleground in real estate is going to be steering. It’s not a matter of if, but when. During the litigation over cooperative compensation in MLSs, one of the central claims by plaintiffs’ attorneys was that real estate agents were steering buyers toward… The post Op-Ed: The Next Wave of Lawsuits Will Be About Steering—Mark My Words appeared first on RISMedia.

Agents 120

More Trending

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Real continues its rise, focused ‘on what we can control’

Real Estate News

The company says its innovative AI and financial products give it an edge as it increases revenue and agent count despite a difficult housing market.

Agents 300
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Is a Fixer Upper Right for You?

Keeping Current Matters

Looking to buy a home but feeling like almost everything is out of reach?

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Will the NAR settlement make it to the closing table? The Download

Inman

As the Nov. 26 hearing for final approval of the National Association of Realtors commission lawsuit settlement approaches, voices from all sides are questioning its wisdom.

Closing 183
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Amazon is moving out of a Denny Triangle building in Seattle

Seattle Times Real Estate

Amazon will move out of the Met Park North office building in Seattle's Denny Triangle this month and shift 800 workers to other offices in the region.

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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

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Stamp Duty-exempt stock could drop by 20% from April – research

Estate Agent Today

First-time buyers will face a stock shortage as well as potentially higher costs once Stamp Duty thresholds return to £300,000 in April, research suggests.

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Zillow’s mortgage business is growing. Lenders beware

Housing Wire

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. In its third-quarter earnings report, Zillow Home Loans revealed an impressive data point: mortgage revenue increased 63% year over year in the third quarter to $39 million, which is primarily due to an 80% year-over-year increase in purchase loan origination volume to $812 million.

Mortgages 434
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Zillow sees big revenue boost as it continues to beat expectations

Real Estate News

Growth across all major divisions, which the company attributed to strong conversions and agent partnerships, produced double-digit gains in the third quarter.

Agents 280
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Renting vs. Buying: The Net Worth Gap You Need To See

Keeping Current Matters

Trying to decide between renting or buying a home?

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Opendoor lays off 300 workers after posting $78M Q3 loss

Inman

The San Francisco-based iBuyer bought and sold more homes during Q3 than it did a year ago and trimmed its net loss by 14 percent from Q2 and 26 percent from a year ago.

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City Planning Chair Asks About Affordable Housing, Height at Arrow Linen Hearing

Brownstoner

After a series of contentious public hearings on the controversial Arrow Linen rezoning, more than two dozen Park Slope, Windsor Terrace, and surrounding locals waited for hours on Wednesday at a City Planning Commission meeting to have their voices heard. The proposal calls for two mixed-income buildings at a minimum… Read More > The post City Planning Chair Asks About Affordable Housing, Height at Arrow Linen Hearing appeared first on Brownstoner.

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Nationwide: ‘Pre-Budget fears pushed house price growth lower’

Estate Agent Today

The property market appears to have turned cautious in the build-up to the Autumn Budget with house price growth slowing to 2.4% annually during October, Nationwide figures show.

Marketing 119
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Climate risk is rising. It calls for a rethinking of home insurance coverage

Housing Wire

Climate change is increasing the intensity and severity of natural disasters. It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. In just the past two months, two major hurricanes battered Florida, inflicting physical and financial damage that is projected to exceed $100 billion.

Design 459
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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The future of MLS? It's Zillow, says Compass CEO

Real Estate News

Robert Reffkin said “it’s only a matter of time” before Zillow becomes a national MLS. Zillow, meanwhile, advocated for a strong MLS and equal access to data.

MLS 274
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First-Time Homebuyers at Historic Low, While Buyer Age Hits Record High

RIS Media

The first-time homebuyer marketshare decreased to a historic low of 24% (down from 32% last year), while homebuyers’ ages hit all-time highs of 56 overall (49 last year), 38 for first-time buyers (35 last year) and 61 for repeat buyers (58 last year), according to the National Association of REALTORS®’ (NAR) 2024 Profile of Home… The post First-Time Homebuyers at Historic Low, While Buyer Age Hits Record High appeared first on RISMedia.

Sales 113
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Zillow: No-commingling rule should be repealed, not Clear Cooperation

Inman

Zillow Chief Industry Development Officer Errol Samuelson discussed NAR's no-commingling rule and Clear Cooperation — and how the fight to save the latter is key to preserving consumer choice.

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Housing Market Predictions for 2025 and 2026 by NAR Chief

Marco Santarelli

As we dive into Housing Market Predictions for 2025 and 2026 , experts are projecting a notable increase in home sales, with estimates showing a 9% increase for 2025 and an impressive 13% increase for 2026. This optimistic forecast is largely attributed to stabilizing mortgage rates, which are expected to hover around 6%. According to NAR Chief Economist Lawrence Yun , we might finally be turning a corner after a challenging period marked by high borrowing costs and low inventory.

Marketing 105
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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Zoopla: Third of sale stock is chain-free

Estate Agent Today

A third of homes for sale on Zoopla are currently chain-free as investors and second homeowners have looked to sell amidst expected changes to the way second homes are taxed, the portal suggests.

Sales 112
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Whether you’re looking to start a career in real estate, already have one or are involved in real estate transactions, you may find yourself wondering about industry terminology and job titles. The industry acronyms alone look like alphabet soup.

Agents 448
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The election is over — what does it mean for interest rates?

Real Estate News

In the short term, expect "rising and more unpredictable mortgage rates." But the Fed will likely stay the course and issue a modest rate cut this week.

Mortgages 259
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13 Votes on Housing Proposals to Watch On Election Day

Bigger Pockets

California isn’t the only state that will decide on important housing issues at the ballot box on Nov. 5, but it is one of the most prominent.

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.

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CoStar loses National Advertising Division challenge against Move

Inman

The National Advertising Division on Friday denied CoStar's challenge to Realtor.com's "No. 1 site real estate professionals trust" tagline. CoStar said it's based on outdated data. NAD disagreed.

Agents 167
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In Q2, almost 20% of Units Started Built-for-Rent were Single Family

Calculated Risk Real Estate

Along with the monthly housing starts report for September released last month, the Census Bureau also released Housing Units Started by Purpose and Design through Q2 2024. The first graph shows the number of single family and multi-family units started with the intent to rent. This data is quarterly and Not Seasonally Adjusted (NSA). Although the majority of units built-for-rent’ are still multi-family (blue), there has been a significant pickup in single family units started built-for-re

Design 109
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Estate agency AML registrations rise

Estate Agent Today

Almost 22,000 UK estate agency branches have registered with HMRC for anti-money laundering (AML) supervision – an increase of around 1,500 branches in just over a year, analysis of HMRC data reveals.

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Here’s what buyers and sellers want from their real estate agent

Housing Wire

The role of the real estate agent has been under the microscope of late as a result of class-action litigation over agent commissions, but the feedback agents want most about their practices comes from two sources — home buyers and sellers. A new report from the National Association of Realtors (NAR) surveyed buyers and sellers on what they want from their real estate agents.

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The Broker Action Plan for the Post-NAR Lawsuit Landscape

Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.