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Integrity in Real Estate
Updated: 1 hour 5 min ago

Rocket Mortgage Focuses on AI as Earnings Continue to Grow

Fri, 02/23/2024 - 11:29

Rocket Companies stated that they are increasing their focus on technology and AI as they continue to thrive amidst mortgage and housing market challenges. 2023 had some ups and downs for the company, like many others. Despite the lawsuit filed against the company for an alleged violation of the Telephone Consumer Protection Act and a…

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eXp Posts Profitable Q4, Positioned to Capitalize on Future Growth Opportunities

Fri, 02/23/2024 - 10:34

Last year was filled with pressing difficulties in the real estate realm—throughout the United States and beyond—although virtual brokerage eXp was able to increase its Q4 revenue by 5%, a notable jump compared to the same period in 2022, amounting to $983 million year-over-year. Full-year revenue amassed $4.28 billion. It’s worth highlighting, however, that the…

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ICE First Look: January Mortgage Delinquencies Drop to Lowest Level Since October

Fri, 02/23/2024 - 10:22

Good news for homeowners: Mortgage delinquencies are on the decline, dropping to their lowest point since October 2023, according to Intercontinental Exchange’s (ICE) First Look at January 2024’s mortgage performance data. The national mortgage delinquency rate dipped to 3.38% in January, marking a welcome fall from the holiday-driven bump seen in December 2023 but flat…

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New York Median Home Price Climbs 8.2% in January

Fri, 02/23/2024 - 08:02

In January 2024, OneKey MLS—which covers the New York market territories of Montauk to Manhattan, as well as north through the Hudson Valley and the Catskill Mountains—reported a regional, single-family, closed median sale price of $649,000, an 8.2% increase over the reported January 2023 price of $600,000.  For condominiums, OneKey MLS reported a closed median…

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Nick Bailey Leaving RE/MAX CEO Post; Company Reports Further Revenue Declines in Q4

Thu, 02/22/2024 - 17:03

RE/MAX announced Thursday that CEO Nick Bailey is leaving the company, an unexpected announcement that came at the same time the company released its Q4 earnings, which showed further declines following reported losses the previous three quarters of 2023. Stepping into the leadership role, former SVP of Region Development for RE/MAX, Amy Lessinger, has been…

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Thoughts on Leadership: Honoring Black History Month

Thu, 02/22/2024 - 12:38

As February 2024 marks Black History Month, it’s a time to reflect on the profound contributions and enduring legacy of Black leaders throughout history. From civil rights activists to trailblazing entrepreneurs, Black individuals have shaped our world and inspired generations with their resilience, courage, and visionary leadership. In honor of Black History Month, let’s explore…

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Global Spotlight: Alluring European Locales

Thu, 02/22/2024 - 12:31

A villa in the Algarve region of Portugal Casaiberia Real Estate Lagoa, Portugal Paulo Lopes, CEO  https://www.casaiberia.com  Tell us about your company.  Casaiberia, established in 2007, stands as a prominent figure in Portugal’s real estate realm. With a diverse, multilingual team, our roots intertwine with Portugal’s international allure, embracing first-hand experiences of relocation and property…

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Fed Minutes Hint at Policy Pivot Toward Rate Cuts, but Inflation Vigilance Remains

Thu, 02/22/2024 - 12:30

The Federal Reserve acknowledged in its last meeting that rates have likely hit their peak, but they’re continuing to keep a watchful eye on key economic indicators and inflation, balancing a sense of optimism with some caution, according to meeting minutes released Wednesday. The minutes from the Jan. 30-31 meeting of the Federal Open Market…

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Tennessee Brokerage Joins Better Homes & Gardens Real Estate

Thu, 02/22/2024 - 12:09

Better Homes and Gardens Real Estate Heritage Group located in Shelbyville, Tennessee, is the latest firm to join the lifestyle real estate brand. Founded in 2010, the company is headed by its six-person leadership team of Tennessee natives: Melissa Sterling, who serves as principal broker, Jeff Hicks, David Bradford, Jordan Cooper, Reed Emerson and Leigh…

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Emotional Considerations and Conflict Resolution In a Home Buyout

Thu, 02/22/2024 - 12:07

Home buyouts, especially in the throes of a divorce or during the challenging process of family inheritance, are laden with more than just financial considerations; they carry a heavy emotional weight. Often seen as a haven and a repository of memories, the home becomes a central figure in these life-altering events. Recognizing and addressing the…

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NAR: Existing Home Sales Rose in January

Thu, 02/22/2024 - 11:05

Following a drop to its lowest level in three decades by the end of last year, existing-home sales reversed course last month, rising 3.1% from December to a rate of 4.00 million in January, down 1.7% year-over-year, or 4.07 million sales, according to the latest report from the National Association of REALTORS® (NAR).  NAR’s Existing…

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Ransomware Round-Up: Recent Cybersecurity Attacks, and How to Avoid Being Next

Thu, 02/22/2024 - 10:25

Since Q3 2023, real estate companies—from MLSs to title servicers—have been beset by cyberattacks that have compromised their users’ personal data. Such attacks are typically ransomware (or hackers holding data hostage for a payout). A company-wide cyberattack can be devastating, with a price tag in the millions (whether due to lost business or legal fees)…

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Mortgage Rates Near 7%

Thu, 02/22/2024 - 10:07

Nearing a return to 7% territory, the 30-year-fixed-rate mortgage continued its ascent this week, up to 6.9% from last week’s average of 6.77%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday.  This week’s numbers: The 30-year FRM averaged 6.90% as of February 22, 2024, up from last week when…

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First-Time Buyers See More Mortgage Offers in 2023

Thu, 02/22/2024 - 09:55

First-time homebuyers have been struggling through the housing market in recent years. Many challenges have locked them out, creating little opportunity for these buyers to take the steps they need to begin building wealth and equity. The major thing industry economists recently said would need to change for first-time buyers to jump into the market…

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Real Estate Webmasters Launches Demand-Based Pricing Promo

Thu, 02/22/2024 - 07:32

Real Estate Webmasters announced a demand-based pricing promotion aimed at real estate professionals seeking to enhance their online presence.  Typically, REW stated that the first quarter sees a slowdown in “net new” orders for their professional services. However, this year has deviated from the norm. Morgan Carey, CEO of Real Estate Webmasters, cited several factors…

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California Regional MLS Offers New Tools to Users

Wed, 02/21/2024 - 11:19

California Regional MLS (CRMLS) has entered into an agreement with software firm Immobel to offer two new products to its 110,000-plus users: MLS Match, an agent referral network program, and Xomio, an IDX website that provides visibility online in 19 languages. MLS Match is a core product available for brokers and agents at no cost,…

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Why Teams and AI Are the Perfect Marriage

Wed, 02/21/2024 - 11:17

This year will mark a breakthrough in deploying AI in real estate. As AI continues to rapidly advance in its capabilities as a personal assistant, real estate agent teams have become the perfect partner for this cutting-edge technology. The rise of AI in real estate McKinsey reports that within this decade, up to 30% of…

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The Top Three Mistakes Listing Agents Make & How to Avoid Them

Wed, 02/21/2024 - 11:15

Growing and maintaining a real estate career is a promising yet challenging endeavor. The failure rate for agents is staggering—nearly half of all agents fail in the first five years. If you make it past this hump, you are still not immune to the ebbs and flows of the real estate market. To continue growing…

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Judge Removes HomeServices, Two States From Mega Buyer Suit

Wed, 02/21/2024 - 11:10

In a split decision Feb. 20, the judge overseeing the goliath buyer-side commission case dismissed some state-level claims by plaintiffs—and dropped one of the defendants entirely—in an opinion that appears to be a relatively small victory for big real estate brokerages, with most claims in the lawsuit still moving forward. Judge Andrea R. Wood, overseeing…

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Study: Racial Minority Groups Increased Homeownership Rates in 2022

Wed, 02/21/2024 - 09:37

Homeownership rates for racial minorities increased in 2022, with Asian and Hispanic Americans achieving historic peaks. Despite these advancements, disparities persist among racial and ethnic groups, notably with Black homeownership lagging. People of color continue to endure significant buying challenges throughout and after their home purchases, according to a new report from the National Association…

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