Housing Wire
FEBRUARY 7, 2024
After closing out 2023 with its first annual membership decline since 2012, the National Association of Realtors is still struggling with its membership count. In January, NAR membership dropped 2.5% from the month prior to 1,515,837 members, according to the trade group’s monthly report released on Monday. This is down 2.1% compared to a year prior.
Real Estate News
FEBRUARY 7, 2024
Homes.com will run four new ads during the big event while Opendoor will livestream a real homeowner doing a virtual walkthrough during halftime.
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Housing Wire
FEBRUARY 7, 2024
Consumer sentiment toward housing reached its highest level since March 2022, fueled by increased confidence in job security and a higher share of people who expect mortgage rates to decrease. Fannie Mae ’s home purchase sentiment index ( HPSI ) — which tracks the U.S. housing market and consumer confidence to sell or buy a home — rose 3.5 points in January to 70.7.
Keeping Current Matters
FEBRUARY 7, 2024
On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Housing Wire
FEBRUARY 7, 2024
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic ’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022, but is in line with the pre-pandemic rate of 3.9% in 2019.
Real Estate News
FEBRUARY 7, 2024
After six years on the island, broker Chris Speicher says the real estate business remains paralyzed, prompting his “heart-wrenching” decision to leave.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
FEBRUARY 7, 2024
RealReports, which provides property information for all U.S. homes, says it can give agents a competitive edge.
Housing Wire
FEBRUARY 7, 2024
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Described as a “blueprint” for the GSEs’ 2025–2027 “Duty to Serve” plans, the publication aims to highlight a more important role that Fannie and Freddie are set to play in facilitating access to the U.S. mortgage finance
Inman
FEBRUARY 7, 2024
The FAB Property Group founder has been operating in the Austin luxury market for over 20 years and is in the top 0.25 percent of agents in the city.
Housing Wire
FEBRUARY 7, 2024
It’s no secret that 2023 was a difficult year to buy a home. With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. New data from the U.S. Census Bureau published last week shows how drastically housing inventory has changed since 2020, while weekly data from Altos Research offers some insights on where it goes from here.
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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.
Inman
FEBRUARY 7, 2024
Hawaii State Senator Brenton Awa has presented a bill aimed at banning foreign buyers from purchasing or investing in property on the island. The senator said the bill, if passed, would be an important to improving affordability for residents.
Housing Wire
FEBRUARY 7, 2024
The Fannie Mae February Selling Guide has a series of updates , including the expansion of value acceptance and property data appraisal waivers to condominiums, cash-out refinance allowances for manufactured homes, and updates to credit references and certain definitions. Following up on a March 2023 update that first announced value acceptance and property data as a substitute for traditional appraisals on certain single-unit properties, the new Selling Guide expands this data to cover condos.
Inman
FEBRUARY 7, 2024
After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs.
Housing Wire
FEBRUARY 7, 2024
Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. The stress is leading to the bank to seek the sale of some of its assets to improve its capital position, executives said during a conference call on Wednesday morning.
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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.
Inman
FEBRUARY 7, 2024
Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums.
Housing Wire
FEBRUARY 7, 2024
Longtime reverse mortgage industry professional Bruce Simmons of American Liberty Mortgage in the Denver area has long used radio as both an educational and marketing tool for prospective reverse mortgage clients. Having endured many of the same business challenges in 2023 as other industry participants, Simmons recently sat down with RMD and described how a recent shift in his focus on radio has been beneficial.
Bigger Pockets
FEBRUARY 7, 2024
As of the end of 2022, 100% bonus depreciation was set to be phased out by the end of the decade. Now, with the Tax Relief for American Families and Workers Act of 2024, it looks like we could see bonus depreciation and other benefits stick around. Here's what you need to know about the bill.
Housing Wire
FEBRUARY 7, 2024
Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman served as the company’s senior vice president of retail and direct sales for more than four years. In his new role, Hardiman will lead its lending and fulfillment operations.
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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.
Inman
FEBRUARY 7, 2024
Watch the latest Inman Access class to hear what industry experts are prioritizing in 2024 and how the current market will impact or change the way they are approaching their business plans.
Housing Wire
FEBRUARY 7, 2024
New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. Lower interest rates, however, reduced the value of mortgage servicing rights (MSR) in the final three quarters of the year and affected the company’s overall performance during the period.
Bigger Pockets
FEBRUARY 7, 2024
A free lease template on a subreddit somewhere sounds like an appealing, low-cost option. But going the cheap route on your lease documents might actually cost you more than getting it right from the start. Here's how to do that.
Housing Wire
FEBRUARY 7, 2024
California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. In his new position, EQA Mortgage ’s former president will strive to bring unmatched support to mortgage brokers who sell non-QM products. “It’s not just about offering non-QM loans; it’s about providing a foundation for brokers to confidently navigate this complex market,” Yoon said in a statement.
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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.
NAR: Economic Outlook
FEBRUARY 7, 2024
Buyers of New Homes Want Agent Representation New home buyers value agents' help in understanding the buying process, helping with negotiation, and shortening home search time.
Housing Wire
FEBRUARY 7, 2024
The late January auction of iconic Hamptons estate ‘La Dune’ marked the first time a property was included in an art auction at Sotheby’s. The $88.48 million winning bid on ‘La Dune’ also made the estate the most valuable property ever auctioned live at Sotheby’s. ‘La Dune’ was included in Sotheby’s weeklong ‘Visions of America’ auction, which included art and luxury items that showcased “the heights of American craftsmanship in the finest art and objects.
Propmodo
FEBRUARY 7, 2024
We've said it before, and we'll say it again: it's the era of conversions. Perhaps no other solution to the question of what to do with empty office space has been more popular—or more debated—than turning offices into apartments. A number of the country's biggest cities have even rolled out incentives and programs to help […] Unlock unlimited access to all our premium content Start your trial for just $1/month.
Eye on Housing
FEBRUARY 7, 2024
Per the Mortgage Bankers Association’s (MBA) survey through the week ending February 2nd, total mortgage activity increased 3.7% from the previous week, and the average 30-year fixed-rate mortgage (FRM) rate rose two basis points to 6.80%. The 30-year FRM has floated around 6.8% for much of the start of the year, only moving one basis point from January.
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BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.
Seattle Times Real Estate
FEBRUARY 7, 2024
The ballot measure would tax businesses with employees making over $1 million and could raise as much as $50 million a year to go toward the acquisition and construction of affordable housing.
RIS Media
FEBRUARY 7, 2024
We’re still in the throes of winter, mortgage rates are still more than double what they were during 2020-21, and listings are few and far between, but brokers are telling RISMedia that an early seasonal rebound is already here as consumers adapt their behavior to a post-pandemic new normal. With the RISMedia Broker Confidence Index… The post Confidence in 2024 Surges as Brokers Shake Off Winter Blues appeared first on RISMedia.
Lighter Side of Real Estate
FEBRUARY 7, 2024
If you’re a Baby Boomer, there’s a good chance you own a house that people in younger generations would love for you to sell , but there’s also a good chance that you have no intention of moving. According to a recent study by Morning Consult, 79% of Boomers polled said they had no need to move, and don’t plan on doing so. Considering many in that generation are living longer, healthier lives, and own their houses outright, they’re quite comfortable staying put.
RIS Media
FEBRUARY 7, 2024
In an analysis released Feb. 5, following a 2.1% annual membership decline in January, National Association of REALTORS® (NAR) Chief Economist Dr. Lawrence Yun said in the comment section that it was mainly due to the housing market’s poor performance in 2023, and that hopefully the numbers will improve this year. “Membership figures were the… The post NAR Says Membership Losses Due Mostly to Market Conditions appeared first on RISMedia.
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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