Housing Wire
JULY 16, 2021
Cash buyers are pouring into the housing market this year, and they’re picking off more than half of available inventory in certain areas in Florida and New York. As of July 14, nearly one-third of U.S. home purchases this year were paid with just cash — 30%, specifically — according to a recent Redfin study. That represents the largest share since 2014, when 30.6% of homes were purchased with all cash.
Keeping Current Matters
JULY 12, 2021
While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move. 1. Your House Will Likely Sell Quickly. According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly.
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Maximum Exposure Real Estate
JULY 16, 2021
What is Dual Agency and How Does it Work? Are you wondering what dual agency is and how it works? One of my duties as a real estate agent is to explain how agency law works in Massachusetts. I am required by law to present agency law at my first meeting with a prospective […]. The post Having a Dual Agent: Why Buyers & Sellers Should Avoid it appeared first on Massachusetts Real Estate Exposure.
Better Dwelling
JULY 14, 2021
New Zealand may be the first advanced economy to hike interest rates. The Reserve Bank of New Zealand (RBNZ) abruptly announced a halt to the Large Scale Asset Purchase (LSAP) program. Along with the announcement was the release of the Monetary Policy Committee notes. The Committee said the risk of deflation has now passed, and […]. The post New Zealand’s Central Bank Calls Home Price Growth “Unsustainable,” Halts QE appeared first on Better Dwelling.
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
JULY 16, 2021
Home sales fell 1.2% from May to June, the largest drop at this time of year on record since at least 2012, according to a new Redfin study released this week. The national median home-sale price hit a record high of $386,888, up 25% year over year, but a slight decline from the record of 26% in May. The number of homes for sale fell 28% year over year from 2020, and the typical home sold in just 14 days — a record low and, down from 39 days in June 2020.
Keeping Current Matters
JULY 13, 2021
In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season. Here’s how this summer is stacking up against the norm and what it means for you.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Brownstoner
JULY 12, 2021
An affordable housing lottery has opened for 127 units in a 39-story building at 41 Blue Slip in Greenpoint. The building, called Two Blue Slip, is part of the larger Greenpoint Landing development. It stands next to One Blue Slip, a 30-story residential tower that’s part of the same development, and… Read More > The post Affordable Housing Lottery Opens for 127 Units in Greenpoint, Starting at $2,370 a Month appeared first on Brownstoner.
Housing Wire
JULY 12, 2021
This is the first time I am writing about mortgage backed securities (MBS) because I hardly ever consider this aspect of the housing ecosystem in my work. But since now even Federal Reserve members are discussing the pros and cons of MBS, this is a good time to give you my take. The 10-year yield has been in a downtrend since 1981, and so have mortgage rates, so the MBS market hasn’t eve been a focus of mine.
Keeping Current Matters
JULY 14, 2021
An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges: “ It looks like inventory may have hit a bottom (we’ve seen this in the higher frequency data as well).
Sotheby's International Real Estate
JULY 13, 2021
During the Italian renaissance, palazzi—palaces—were built for royalty by such architectural luminaries as Michelozzi and Palladio. With its iconic symmetrical design, neat rows of windows, and sturdy prominent cornices, this 9,638-square-foot three-story residence would look perfectly at home among the palazzi in Rome, Florence, and Venice. Instead, it enjoys a prime position on a coveted block in the exclusive leafy environs of Houston’s Tanglewood and is the work of award-winning area archite
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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.
Realtor.com
JULY 14, 2021
California Eco Design, Inc./Houzz With intense heat waves and over 75% of the American West experiencing severe drought this summer, you might be wondering how you can do your part to conserve water—to help the environment and to reduce your utility bills. But how are you supposed to cut back on your water usage and keep up that lush landscaping that makes the neighbors jealous?
Housing Wire
JULY 14, 2021
After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The prior week ‘s report showed a 1.8% drop in applications to the lowest level since January 2020. The sudden increase in applications was driven “heavily” by increased refinancing as mortgage rates dipped again, said Joel Kan, MBA associate vice president of economic and industry forecasting. “
Keeping Current Matters
JULY 16, 2021
Some Highlights. Buyers hoping for more homes to choose from may be in luck as housing inventory begins to rise. Many experts agree – new sellers listing their homes is great news for buyers and the overall market. Although the supply increases are modest , more homes means more options for buyers. A rise in inventory may also help slow the price gains we’ve seen recently and could be a sign of good things to come.
Realty Biz
JULY 12, 2021
As with the rest of the countries in the world, the United Kingdom’s property market is one of the main drivers of the economy. This, despite the slight dip in the country’s gross domestic product (GDP), contracting at 1.6% in the first quarter (Q1) of 2021, per Office for National Statistics. . . Overall, the UK property market is projected to be stable in 2021, especially with the continuing COVID-19 vaccinations towards the third (Q3) and fourth (Q4) quarters of 2021.
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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.
Realtor.com
JULY 14, 2021
HGTV Craving a little sun and sand along with some smart home design advice? Then the new HGTV show “Battle on the Beach” is the perfect summer binge. In this series, the network’s stars Ty Pennington , Alison Victoria , and Taniya Nayak mentor teams of design newbies as they compete to fix up three houses on Alabama’s Gulf Coast. And in the series premiere, “Battling the Kitchens,” the three teams renovate their kitchens in hopes they’ll impress celebrity judges Mina Starsiak
Housing Wire
JULY 13, 2021
Competition between would-be homebuyers is still high, but an increase in homes hitting the market in June brought some relief from bidding wars. Per a recent Redfin study , 65% of home offers written by company agents in June faced competition, down from a rate of 72.1% in May and a peak of 74.1% in April. That’s still higher than the 56.8% bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a temporary standstill triggered by pandemic shutdowns,
Keeping Current Matters
JULY 15, 2021
Last week, Fannie Mae released their Home Purchase Sentiment Index (HPSI). Though the survey showed 77% of respondents believe it’s a “good time to sell,” it also confirms what many are sensing: an increasing number of Americans believe it’s a “bad time to buy” a home. The percentage of those surveyed saying it’s a “bad time to buy” hit 64%, up from 56% last month and 38% last July.
Sotheby's International Real Estate
JULY 12, 2021
Is there any greater pleasure than having a perfect outdoor space at home? A patio for enjoying fresh air and unencumbered views is a true essential for luxury living—and the best outdoor spaces are complemented by convenient amenities. Whether lounging in the shade or entertaining over dinner, you’ll find plenty of summer design inspiration in these five remarkable patios.
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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.
Better Dwelling
JULY 14, 2021
Canada’s central bank is closer to ending the program that added rocket fuel to home prices. The Bank of Canada (BoC) announced it will taper its quantitative ease (QE) program. QE has been a major contributor to the flood of cheap cash that’s helped push home prices higher. As the program gets close to an […]. The post Bank of Canada To Further Taper Toxic Program That Helped Push Home Prices Higher appeared first on Better Dwelling.
Housing Wire
JULY 15, 2021
Mortgage credit availability dipped 8.5% in June to 118.8 — indicating that lending standards are tightening, per the Mortgage Bankers Association’s Mortgage Credit Availability Index. It’s the lowest MCAI level — which uses 100 as a benchmark — since September of 2020, and ends more than six months of increasing credit supply, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Mortgage credit has not recovered since the sharp dow
Realtor.com
JULY 13, 2021
Getty Images Buyers, we know it’s hard out there for you right now. In our current seller’s market, the national inventory of active listings is down 43.1% year over year, according to the Realtor.com June 2021 Housing Market Trends Report. And a scarcer selection means people are paying more, too, with listings up 12.7% in price. All of this demand means buyers are going to ever-greater lengths to make their offer stand out.
Lighter Side of Real Estate
JULY 15, 2021
There are a number of common mistakes potential home buyers make when applying for a mortgage—and those mistakes can end up costing you time, money, and frustration during the home buying process. But what, exactly, are those mistakes? A video from realtor.com outlined some of the major mistakes potential home buyers make when applying for a home loan, including: Making a big purchase.
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.
Sotheby's International Real Estate
JULY 10, 2021
Keeping an eye on the ball could be difficult thanks to the settings of these inviting tennis courts, all located on the grounds of impressive estates in exclusive locations from the Hamptons to Beverly Hills. Gated Beverly Hills Haven. Victoria Risko, Sotheby’s International Realty – Beverly Hills Brokerage. The centerpiece of this regal gated Beverly Hills estate—which consists of two legal parcels—is a distinctive modern residence with a media room and bar, a temperature-controlled wine
Housing Wire
JULY 14, 2021
A shareholder sued Rocket Mortgage , the Detroit-based mortgage behemoth, for allegedly making misleading disclosures to conceal adverse market conditions. The class action-seeking lawsuit, which was filed in the Eastern District Of Michigan’s Southern Division, alleges that Rocket was aware of factors that were already taking a toll on its business, while touting its future performance to investors.
Eye on Housing
JULY 14, 2021
Framing lumber prices garnered more attention than any other building material over the past year as prices quadrupled between April 2020 and May 2021. But even as lumber prices decline, the spotlight on lumber continues to crowd out the story of meteoric price increases of another wood product integral to the integrity of a building’s structure—oriented strand board (OSB).
Brownstoner
JULY 12, 2021
With picturesque stepped gables and a location on a tree-lined street of similarly fetching semi-detached homes, this single-family offers up some history along with a renovated interior and parking. In Crown Heights, No. 1388 Union Street was built in the early 20th century as part of full block development meant… Read More > The post Flemish Revival Brownstone With Pier Mirror, Parking in Crown Heights Asks $2.5 Million appeared first on Brownstoner.
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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.
Realtor.com
JULY 13, 2021
Doug Carr In small-town Iowa, Frank Lloyd Wright designed two homes for two families who knew each other well—and wanted to live in close proximity. One of those homes, the 2,300-square-foot, Usonian-style Carroll Alsop House in Oskaloosa, IA, is now set to be sold in a private auction in early August with a $450,000 minimum bid, according to Peter Maunu.
Housing Wire
JULY 16, 2021
Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. But this is no ordinary mortgage startup. Venture capital investors including Zillow founder Spencer Rascoff and Trulia co-founder Pete Flint, believe that Tomo has the potential to topple the legion of lenders that have increased market share, invested heavily in technology and lapped up record
Eye on Housing
JULY 12, 2021
New NAHB research shows that despite declining self-employment rates and the rising top builder market share, residential construction remains the industry of independent entrepreneurs with close to 80% of homebuilders and specialty trade contractor firms being self-employed independent contractors. Even among firms with paid employees, the industry continues to be dominated by small businesses, with 63% of homebuilders and two.
The Mortgage Report
JULY 16, 2021
Down payment assistance is widely available, but many who qualify don't even know about it. Find out if you qualify for home buying help.
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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