Sat.Feb 10, 2024 - Fri.Feb 16, 2024

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Homeowners are staying in place twice as long as they did 20 years ago: Redfin

Housing Wire

The preference that older Americans have for aging in place in their own homes is showing up in broader trend data, according to a new report from Redfin. While “homeowner tenure” has fallen slightly since its 2020 peak, the length of time that homeowners are remaining in their properties doubled to 11.9 years last year, up from 6.5 years in 2005, according to a Redfin analysis of median U.S. homeowner tenure by year using county records.

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Inman’s 2024 Global Real Estate Influencers revealed

Inman

Broker and reality television legend Ryan Serhant headlines an all-star roster of the industry's most compelling voices for the second-annual Inman Global Real Estate Influencers program.

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Don’t Let the Latest Home Price Headlines Confuse You

Keeping Current Matters

Based on what you’re hearing in the news about home prices, you may be worried they’re falling.

Marketing 329
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DOJ to court: Buyers need to set their agents’ compensation

Real Estate News

A statement of interest filed late Thursday by the Department of Justice savages the proposed MLS PIN settlement, and calls out MLSs for limiting competition.

MLS 345
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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NAR runs out of liability insurance coverage: Sources

Housing Wire

Three sources, who have asked to remain anonymous, have confirmed to HousingWire that the National Association of Realtors (NAR) has run out of liability insurance funds. The news about NAR’s insurance predicament began circulating late Wednesday , with industry analyst Rob Hahn highlighting the news in the Thursday edition of his email newsletter NotoriousROB.

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Strength in home prices helped boost Fannie, Freddie 2023 profits

Inman

With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.

Mortgages 215

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Brokers, are you focusing on the wrong agents?

Real Estate News

Superstars and stragglers might catch your attention, but agents in the middle — the slow-and-steady crowd — can supercharge your business, with some guidance.

Agents 269
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Why fewer homes are taking a price cut, even while inventory rises

Housing Wire

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. While weekly inventory is still falling, we have year-over-year growth in total active listing and new listings data. This calls into question a mortgage rate lockdown, as mortgage rates are also higher year over year.

Mortgages 521
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Meet the brokerage getting ahead of the post-Sitzer commission rush

Inman

DeLeon Realty in Silicon Valley began advertising commissions of 3.5 percent or less for homesellers who choose to work with the firm. The marketing push appeared in the mail and social media this week.

Brokerage 195
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Why So Many People Fall in Love with Homeownership

Keeping Current Matters

Chances are at some point in your life you’ve heard the phrase, home is where the heart is.

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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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NAR called ‘arrogant’ as it makes national news again

Real Estate News

A Wall Street Journal story portrays the National Association of Realtors as inflexible in the face of legal challenges to the industry’s commission structure.

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Real estate investors snagged more entry-level houses than ever: Redfin

Housing Wire

Real estate investors purchased 26.1% of the lowest-priced homes for sale in the U.S. in the fourth quarter of last year, according to a report by Redfin. It was the highest share ever recorded and was up from 24% in Q4 2022. By comparison, investors purchased 13.6% of the mid-priced homes (compared to 14.3% a year earlier) and 15.9% of the high-priced homes (compared to 15.4% a year earlier).

Investor 520
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DOJ to Nosalek judge: Broker commissions should be decoupled

Inman

The Department of Justice said a proposed settlement in the major antitrust lawsuit might itself violate federal law and said buyers should negotiate their broker's commission directly.

MLS 196
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What’s Really Happening with Mortgage Rates?

Keeping Current Matters

Are you feeling a bit unsure about what’s really happening with mortgage rates?

Mortgages 343
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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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Zillow beat revenue expectations in fourth quarter

Real Estate News

While still posting a net loss, the company reported higher-than-expected revenue from its residential and rental businesses as Premier Agent held steady.

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Many homeowners don’t understand how their escrow account works

Housing Wire

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. More than 80% of survey respondents said they know what an escrow account is and its primary purpose — to pay property taxes and other expenses, such as homeowners insurance , flood insurance and mortgage insurance premiums.

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Top Bay Area team boomerangs back to Compass from Side

Inman

Mollie Poe and Declan Hickey were founding members of Compass San Francisco before leaving in 2020. Now, they're bringing four additional team members back to Compass with them.

Brokerage 194
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Bridging the Gaps on the Road to Homeownership

Keeping Current Matters

Homeownership is a major part of the American Dream.

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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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Almost 20% of Realtors pay for multiple MLSs, but for how long?

Real Estate News

Commissions lawsuits could accelerate consolidation and evolution — and save agents money, according to a new report on MLSs and Realtor associations.

Agents 252
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U.S. foreclosure activity ticked up significantly in January: Attom

Housing Wire

In January, the number of properties with a foreclosure filing inched up on both a monthly and a yearly basis, according to a report released Tuesday by Attom Data. In total, 33,270 U.S. properties received a default notice, were scheduled for auction or were undergoing bank repossession last month, up 10% from December and up 5% compared to a year ago.

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Luxury real estate is shifting out of neutral

Inman

As we step into 2024, the luxury real estate market presents a vibrant picture of renewed hope and enthusiasm among high-net-worth consumers, setting the stage for a renaissance in the world of luxury living.

Staging 187
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Best Quarter for Townhouse Construction Since 2006

Eye on Housing

Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in more than 17 years. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the fourth quarter of 2023, single-family attached starts totaled 47,000, which is 27% higher than the fourth quarter of 2022.

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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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Investors buying a bigger share of affordable homes

Real Estate News

While overall activity softened last quarter, real estate investors flocked to Chicago and cities in California in the hunt for lower-priced properties.

Investor 242
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CPI inflation report shows the Fed loves playing with fire

Housing Wire

Today’s CPI inflation report was the craziest inflation report I have ever seen in my life. The progress in inflation is still intact as we have fallen so much from last year’s growth rate, but the Owners’ Equivalent Rent of Residences (OER) inflation has diverged from all the shelter rent data in the most prominent fashion I have ever seen, which boosted this report higher than it should have been.

Mortgages 496
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Rising rates and home prices stifle January market: Redfin

Inman

The Federal Reserve's policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.

Marketing 191
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Investors Are Abandoning Their Short-Term Rentals and Converting Them Mid-Term Rentals—Here’s Why

Bigger Pockets

Now that hundreds of cities and towns across the country are moving to ban or limit short-term rentals, investors who used to make bank off these properties have to readjust their strategies to stay in the game. Here's one way that they're doing it—and it's proving to be just as lucrative.

Investor 136
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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.

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Don’t count on rate cuts in the first half of 2024

Real Estate News

Economists say inflation is not falling fast enough to convince the Federal Reserve to lower interest rates.

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Down payment assistance programs are a boon amid mounting pressure on homebuyer affordability

Housing Wire

The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans.

FHA loan 476
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New-home sales off to a roaring start with record January bump

Inman

Loan applications for new-home purchases were up 19 percent from a year ago in January, according to an MBA survey of builders that's been an accurate predictor of trends.

Sales 192
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A Seattle suburb known for affordability becomes example of U.S. debate on homelessness

Seattle Times Real Estate

Over the course of a year, a Seattle suburb’s grapple with how to handle a small but growing homeless population showed the faultlines in current U.S. response.

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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.