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Integrity in Real Estate
Updated: 2 hours 15 min ago

New York Regional Single-Family Home Price Increases 8.9% in April

Fri, 05/24/2024 - 08:52

Bringing positive housing news to both sellers and buyers in one of New York’s priciest areas, housing prices and inventory are both up over last year, according to the latest market report from OneKey MLS, which covers transactions from Montauk to Manhattan, north through the Hudson Valley and the Catskill Mountains.   OneKey’s latest data…

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10 Top Habits of High-Performing Real Estate Teams

Fri, 05/24/2024 - 08:44

The winning formula to build and scale a successful real estate team in today’s market requires several must-haves, including a positive culture, a powerful marketing reach, effective communication and more. Here are 10 top habits of high-performing real estate teams to consider if you’re looking to form a team.  Prioritize team culture A strong culture…

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Mortgage Mix: FHA Requiring ‘Cyber Incident’ Reports; Homeowner Equity Hits New Record

Thu, 05/23/2024 - 12:26

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -Leadership at Fannie Mae is highlighting the use of AI as a possible way to “get out of repurchases altogether,” according to National Mortgage News. At a Mortgage Bankers Association (MBA) conference last week, executives…

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Special Assessment Taxes vs. Property Taxes: How Do They Differ

Thu, 05/23/2024 - 12:14

Special assessment and property taxes are crucial to a city or town’s revenue system. They fund local services and infrastructure improvements. My comparative analysis will clarify their differences and guide property owners on their impact. In this article, you will learn the following: What special assessment taxes and property taxes ar How these taxes differ…

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Mortgage Rates Drop Below 7%

Thu, 05/23/2024 - 10:52

Calling it an “unexpected windfall” of both lower rates and increased inventory of new and existing homes, Freddie Mac’s data showed the 30-year fixed-rate mortgage (FRM) averaging 6.94% this week, down from 7.02% last week and marking its third-straight week of declines. The data is tracked weekly in Freddie Mac’s Primary Mortgage Market Survey® (PMMS®),…

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What Legacy Brokerages Need to Do to Prevent Their Demise

Thu, 05/23/2024 - 10:41

The real estate industry is undergoing a seismic shift as traditional brick-and-mortar brokerages lose ground to modern, digitally-driven competitors. As real estate strategist Mike DelPrete points out, 2023 transactions were down 19% compared to the previous year. Still, tech-centric firms like eXp Realty, Compass and Keller Williams outperformed the market.  The Real Brokerage grew its…

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Longtime Minneapolis RE/MAX Owner Announces Retirement

Thu, 05/23/2024 - 10:27

After a 40-year career marked by what the company notes as his “unwavering dedication and visionary leadership,” John Collopy, founder and owner of RE/MAX Results, has announced his retirement. The company notes that Collopy has been instrumental in shaping the brokerage into one of the leading firms in the country. A release notes that Collopy…

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New Single-Family Sales Drop 4.7% in April; Mortgage Rates Remain High

Thu, 05/23/2024 - 10:24

Across the U.S., sales of single-family homes declined 4.7% to a seasonally adjusted rate of 634,000 in April, and overall sales were down 7.7% year-over-year, too, according to data released by the U.S. Census Bureau. Delving deeper, the median sales prices of new homes sold in April was $433,500, down 1.4% from March, though still…

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Anywhere Hosts Weeklong Special Impact Series Called Making Moves that Matter

Thu, 05/23/2024 - 10:17

Anywhere Real Estate hosted its Making Moves that Matter: A Week of Empowering impact event series this week. The event series is designed to explore the connection between inclusion and business results, with a focus on the impact every individual can make on the real estate industry and the world at large. Anywhere stated that…

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A Look Back at the 2023 Rookie of the Year Regional Winners: Part 2

Thu, 05/23/2024 - 09:59

RISMedia’s Rookie of the Year contest is back, honoring agents who are new to the business yet achieving extraordinary results. Now is the time to nominate a 2024 Real Estate Rookie of the Year!  Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5. RISMedia’s Rookie of the Year program, sponsored by…

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The Buyer Agent Playbook: How the Rental Market Can Supplement Your Business

Thu, 05/23/2024 - 09:08

Editor’s Note: The Buyer-Agent Playbook is a new iteration of RISMedia’s biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents with insights and information to ensure they not only survive but thrive in these challenging times.…

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Fannie Mae Projects Mortgage Rates Will Remain Near 7% Through 2024

Thu, 05/23/2024 - 08:33

The latest research from the Fannie Mae Economic and Strategic Research (ESR) Group suggests that earlier projections for lower mortgage rates in late 2024 will not pan out.  The ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7%. Should mortgage rates remain elevated, the latest data suggested…

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Massachusetts RE/MAX Brokerage Expands With Three New Offices

Wed, 05/22/2024 - 12:43

Above, from left, Heather Grant Murray, Jack Brown and Mandy Caruso RE/MAX Beacon of Essex County, Massachusetts has announced the brokerage has acquired three RE/MAX 360 offices, located in Marblehead, Beverly and Gloucester. More than 20 agents and staff members joined the RE/MAX Beacon company as part of the acquisition, which was finalized in early…

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Home Warranties a True Value-Add in Today’s Low-Inventory Environment

Wed, 05/22/2024 - 11:29

Above, Brad DeVries Like many of his colleagues and counterparts across the nation, Brad DeVries—president and CEO of HUFF Realty, Rector Hayden REALTORS® & Semonin REALTORS®, Berkshire Hathaway affiliates serving Kentucky, Indiana and Ohio—is laser-focused on successfully navigating a market defined by constricted inventory and high interest rates.  Continuing to emerge from a distressed economy,…

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Mortgage Applications Up for Third Straight Week

Wed, 05/22/2024 - 09:25

Thanks to the recent declines in average mortgage rates of late, mortgage application activity has seen a small but steady increase for the third-straight week. This week, applications are up 1.9% from last week’s slight uptick of 0.5%, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA) for the week…

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VA Will Suspend, Work On Changing Rule That Bans Buyer Commission

Wed, 05/22/2024 - 09:20

The U.S. Department of Veterans Affairs (VA) plans to issue a circular before June 12 in the wake of the National Association of REALTORS®’ (NAR) historic settlement, with hopes to “bridge the gap” on the buyer commission prohibition between buyers agents and veterans. Department of Veterans Affairs Deputy Director for Policy Michelle C. Corridon announced…

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Spring Sales Down, But Million-Dollar Listings Boom

Wed, 05/22/2024 - 08:57

Existing-home sales receded in April, according to the National Association of REALTORS® (NAR) latest report, released May 22. All four major U.S. regions posted month-over-month declines. Year-over-year, sales decreased in the Northeast, Midwest and South but increased in the West. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—slid 1.9% from March…

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National Rent Prices Drop Again; Southern Metros Experiencing Greatest Savings

Wed, 05/22/2024 - 08:46

In April, median rent prices dropped yet again nationwide, down 0.7% for most properties, with three major metros—namely, Austin, Texas; Las Vegas, Nevada; and San Francisco, California—seeing prices fall compared to each city’s individual peak, according to the latest Realtor.com® rental report. In contrast, rent in Indianapolis, Milwaukee and Minneapolis reached new highs. “In the…

The post National Rent Prices Drop Again; Southern Metros Experiencing Greatest Savings appeared first on RISMedia.

4 Types of Homes Unwanted by Most, But Not All, Buyers

Wed, 05/22/2024 - 08:39

With low inventory having hamstrung the residential real estate industry over the last year or so, some potentially problematic houses might gain traction with homebuyers. Agents would be wise to keep track of homes that many people would not be very interested in if the market were more normal. But, alas, it is not normal,…

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JPAR® Recognized as a Top Franchise for Diversity by Entrepreneur

Wed, 05/22/2024 - 08:29

JPAR® has been recognized as a 2024 Top Franchise for Diversity, Equity, and Inclusion by Entrepreneur. This accolade underscores the company’s commitment to promoting a culture of openness and an organization committed to mirroring the communities served among the network of franchisees, staff and agents. Entrepreneur’s ranking system for this award category is distinctive, relying…

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