Housing Wire

JUNE 21, 2022

The housing nightmare continues. The National Association of Realtors (NAR) reported that existing home sales for April came in at 5.41 million , down 3.4% from the previous month and 8.6% from last year. But, the savagely unhealthy data line was that home prices are up 14.8%. Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, has

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Eye on Housing

JUNE 21, 2022

As rising mortgage rates and higher home prices continued to price out homebuyers, existing home sales declined for four consecutive months, according to the National Association of Realtors (NAR). However, the trend in home price appreciation continued as supply remained tight. The median existing home prices in May surpassed $400,000, the highest level on record since 1999.

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The Close

JUNE 21, 2022

Real estate farming is a lead generation and marketing strategy used by real estate professionals to generate consistent business from a specific geographic area. Agents farm a specific neighborhood by providing consistent value and attention and cultivating relationships—thereby generating leads that evolve into long-term clients and reliable business.

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Keeping Current Matters

JUNE 22, 2022

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind.

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Don’t just react to changes, plan for them, so you can approach the new year with confidence, direction, and a competitive edge for your business. Having a well-defined business plan helps you chart a clear course, navigate challenges, and set a foundation for growth. This workbook gives you the key steps to outline what matters and will ensure you’re moving ahead.

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Housing Wire

JUNE 21, 2022

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Title insurance is imperative for lenders to ensure the borrower has ownership rights to a property, but it doesn’t just protect against problems affecting title.

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Real Trends

JUNE 21, 2022

As markets across the country have cooled thanks to rising mortgage rates and higher home prices, existing home sales fell in May for the fourth consecutive month. The seasonally adjusted sales rate for existing homes fell 3.4% to 5.41 million from April , according to a report from the National Association of Realtors released Tuesday. The sales pace is down 8.6% compared to a year ago. “Home sales have essentially returned to the levels seen in 2019 — prior to the pandemic — after two ye

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Keeping Current Matters

JUNE 21, 2022

If you own a home, your net worth likely just got a big boost thanks to rising home equity.

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Housing Wire

JUNE 22, 2022

JPMorgan Chase , the nation’s largest bank, has started a workforce reduction of its mortgage lending business this week after having been struck by a tightening monetary policy that drove mortgage rates to over 6%. “Our staffing decision this week was a result of cyclical changes in the mortgage market ,” a spokeswoman for JPMorgan wrote in a statement on Wednesday.

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GeekEstate

JUNE 21, 2022

In this week’s founder interview, we interviewed Hayden James from Fraction. Without further ado…. Who are you and what do you do? My name is Hayden James, and I am the CEO and Co-Founder of Fraction. I am a husband and father and above all, a serial entrepreneur looking to make the homeownership experience fairer. What problem does your product/service solve?

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Sotheby's International Real Estate

JUNE 21, 2022

A scenic coastal stretch of rocky coves, forest groves, and enchanting beaches, Pebble Beach is known the world over for luxurious resorts, celebrated golf courses, and the scenic historic 17-Mile Drive that meanders between Monterey and Carmel. Just steps from the area’s renowned Lodge at Pebble Beach—with its superior golfing, restaurants, and boutiques—this handsome five-bedroom home is a welcoming oasis with views of the iconic sights, including Stillwater Cove and Carmel Bay, that make the

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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.

Industrial

Keeping Current Matters

JUNE 24, 2022

Some Highlights. When it comes to pricing your house, there’s a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional. To find the best price, your agent balances current market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition. Don’t pick just any price for your house.

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Housing Wire

JUNE 24, 2022

New home sales beat the headline estimates and had positive revisions. How on earth did that happen? Not only that, the monthly supply data was revised lower from nine months to 8.3 months for the previous report. Let me tell you, we had a lot of shocked faces in economic land this morning. First, we must never forget that the new home sales reports can be very wild month to month and that positive or negative revisions are widespread.

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GeekEstate

JUNE 20, 2022

[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Latchel.]. One upside to renting is the ability to call someone else when something goes haywire with the property. While a great perk for tenants, the hassle of managing a property is a big reason landlords are likely to sell an investment property.

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Lighter Side of Real Estate

JUNE 21, 2022

If you’re either in the process of buying a house, or thinking of jumping into the market, you’re probably well aware that rates have jumped significantly in recent weeks. And that likely doesn’t feel or sound like anything good to you. But what you might not be well aware of is that, according to Chair of the Federal Reserve, Jerome Powell, raising interest rates is actually being done (at least in part) for the good of home buyers.

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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.

Agents

Keeping Current Matters

JUNE 23, 2022

If you’re following along with the news today, you’ve heard about rising inflation.

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Housing Wire

JUNE 21, 2022

Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the latest Mortgage Bankers Association (MBA) survey for the week ending June 17. “Mortgage rates continued to surge last week, with the 30-year fixed mortgage rate jumping 33 basis points to 5.98% – the highest since November 2008 and the largest single-week increase since 2009,” Joel Kan, associate vice president of economic and industry forecasting for the trad

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The Mortgage Report

JUNE 20, 2022

Has the U.S. housing market peaked? There are signs a cool-off could be coming. Here's what home buyers should know.

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HomeLight

JUNE 21, 2022

After going through the stressful process of staging and showing your house, you’ve accepted an offer that exceeds your expectations. You can’t wait to close the deal so you can move out and begin the next chapter of your life. But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal.

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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.

Sales

Keeping Current Matters

JUNE 20, 2022

Today we take time to honor and recognize the past and present experiences of Black Americans.

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Marketing 253

Housing Wire

JUNE 24, 2022

This week’s HW+ member spotlight features Ben Bernstein, director at Axonic Capital , an investment firm with a deep focus on the structured credit sector of the financial markets. Prior to that, Bernstein held leadership roles in Odeon Capital Group and JPMorgan Chase. Below, Bernstein answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why?

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Realty Biz

JUNE 24, 2022

According to the National Association of Realtors , highlights indicate that existing and pending home sales have seen a steep decline. The housing market showcases a housing shortage, with rising mortgage rates at 5.8% and inflation rates at 8.6%. This makes it incredibly difficult for potential buyers despite solid demand. . Real estate agents’ response to declining homeownership opportunities can be made through a powerful and proactive digital presence.

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Brownstoner

JUNE 22, 2022

A long-awaited second entrance for the deep and cavernous York Street subway station on the F line in Dumbo would cost nearly half a billion dollars to build, according to the MTA. The eye-watering price tag to construct a full new entry and exit to the station would be between $420… Read More > The post MTA Says Price Tag for Second York Street Station Exit Could Hit Almost Half a Billion appeared first on Brownstoner.

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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.

Brokerage

Maximum Exposure Real Estate

JUNE 20, 2022

Have you heard the term “kick-out clause” and wondered what it meant? In many home sales, time is essential. The seller might need their buyer to close on the home in a certain period. The problem is that many things often get in the way of things going the way you want. Often contingencies can […]. The post What is a Kick Out Clause in Real Estate appeared first on Maximum Real Estate Exposure.

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Housing Wire

JUNE 22, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins. UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release. The new program follows UWM’s two-month price-match trial that ends June 30.

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Loans Loan Officer Banks Mortgages 459

Realty Biz

JUNE 24, 2022

One of the main reasons why new real estate agents fail is because they are unable to market themselves effectively. A high proportion ( 87% ) of new real estate agents fail within five years of entering the profession. However, real estate brokers in the top 10% earned more than $150,000 a year. Local real estate marketing is an important aspect of an overall business strategy.

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HomeLight

JUNE 23, 2022

DISCLAIMER: This blog post is meant to be used for informational purposes only, not legal advice. If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. In many cases, if a homebuyer wants to back out of a contract and retrieve their earnest money, they’ll be able to find a way to do so within the confines of the real estate purchase contract.

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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.

Agents

The Close

JUNE 22, 2022

Although it may seem a bit dated in the age of TikTok, your real estate agent Facebook page is still one of the most important elements of your online brand. While Facebook (now Meta ) traffic has taken a small hit recently, one group still uses Facebook more than any other platform—Baby Boomers — the very demographic who are statistically most likely to buy and sell real estate.

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Housing Wire

JUNE 24, 2022

Mortgage lender First Guaranty Mortgage Corporation cut about 80% of its workforce on Friday and has stopped accepting new mortgage applications, HousingWire has learned. Former employees said the lender has “essentially shuttered.” According to two former FGMC employees, the company on Friday laid off around 500 employees without severance payment, meaning only 100 staffers remain. .

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Realty Biz

JUNE 19, 2022

Real estate technology will inevitably change the way you run your business. Times have changed and so have the real estate technology tools that agents use to communicate with potential clients, generate leads, and keep their business afloat. No matter if you’re an experienced agent or just starting out, there are apps that can make your life easier as a real estate agent.

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Lighter Side of Real Estate

JUNE 22, 2022

Question: Have you seen the postcards most agents send out? BOOOR-ING! I’m pretty sure they make the prospects sleep-walk on their way back inside the house. It’s not your fault, though. There’s simply not much to choose from if you’re an agent…. …at least not if you want to give your prospects a punch of personality (and actually keep them awake and attentive to your message).

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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.

Agents