Women in Real Estate
Children categories
In today’s world of dealing with unproductive Internet leads, it is time to cultivate the tried and true methods of yesteryear, the referral. A referral is often a warm lead from a trusted source. But have you ever sent a referral to another broker, and then never heard from that broker again? Join the club. What is your conversion rate on getting or giving referrals? With over 2500 referrals given each day in the US between agents, you may want to focus on building a stream of income from this underserved resource. But when you are actively giving or receiving referrals, keeping track of status might be a challenge. The communication of status and updates might be consistent or ,all too often, you never hear what the status is. Did the client have a good experience? Did the referral result in a sale? With the success or failure of the…
![Just 1.48 Million New Homes Were Built From 2020 to 2022 [New LendingTree Report]](/media/k2/items/cache/966f9a742731c11ed5204d2cae504729_S.jpg)
A lack of housing supply is a serious issue in the U.S. It has put upward pressure on home prices and made buying prohibitively expensive for many. That said, new housing units are being constructed. We have a long way to go before the nation’s housing shortage is fully addressed, but it’s worth recognizing the progress. To find out where these new homes are being built, we analyzed the latest housing data and found that recently built houses aren’t particularly common in the nation’s 50 largest metropolitan areas. Here's what else we found. Across the nation’s 50 largest metros, 1.48 million housing units were built from 2020 through 2022. Put another way, just 1.95% of these metros’ 75.89 million housing units were built from 2020 through 2022. Recently built housing units make up the largest share of homes in three South metros — Austin, Nashville, and San Antonio. In these metros, 5.97%,…
The buzzwords of today’s digital age are ‘AI’ and ‘Artificial Intelligence.’ These excite some and strike fear into others. Yet whatever your position, this Hard Trend is undeniable and will shape the future of your business or organization in some way. Applications like ChatGPT, deep data algorithms, and others are changing the face of work and how we approach business practices at an unprecedented speed. So what does that mean for the roles we have at work? Better yet, how do employers acquire talent with the skills necessary to keep operations progressing into the future? And finally, how do employees adapt when many of the tasks they are used to completing are being transformed by AI? AI Is Moving Fast Organizations and employees alike find comfort in their tried-and-true operations, but the business world is never constant — change is the only constant. According to a recent report completed by Goldman Sachs, 60% of the…
We all know that you can’t fight the FED, but when the FED doesn’t do what people want them to do, the markets are the ones that respond! We spoke a couple of weeks ago about wishing certain people would just keep their mouths shut until AFTER certain actions do or don’t happen. However, we got to see what happens when people get too far out in front of a story, or just downright say things that aren’t true. Here are a few issues that were front and center. • The FED didn’t cut rates. • Inflation isn’t going lower. • Most of the jobs created were part-time jobs. • The actual number of full-time workers has gone down. • Mortgage rates didn’t go to 5% in March. • Home prices continue to rise. • What happens when CPI/PPI show stress and your leadership says “Don’t” and they DO? • …
Luxury sales are outperforming partly because elevated mortgage rates aren’t a deterrent for many luxury buyers, as a record 47% of luxury homes were bought in cash at the start of 2024 The median-priced U.S. luxury home sold for a record $1,225,000 in the first quarter, up 8.7% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Prices of non-luxury homes rose at roughly half the pace; they were up 4.6% to a median of $345,000, also a record high. Redfin defines luxury homes as those estimated to be in the top 5% of their respective metro area based on market value, and non-luxury homes as those estimated to be in the 35th-65th percentile based on market value. Luxury prices are rising largely because demand for high-end homes has held up better than demand for middle-of-the-road homes. Sales of luxury homes are…
Daily average mortgage rates jumped to their highest level since last November after last week’s disappointing inflation report The median U.S. home-sale price increased 5% from a year earlier during the four weeks ending April 14, bringing it to $380,250—just $3,095 shy of June 2022’s all-time high. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts will be delayed. The combination of high mortgage rates and prices have brought homebuyers’ median monthly housing payment to a record $2,775, up 11% year over year. There are signals that buyers are out there touring homes despite rising rates. Mortgage-purchase applications are up 5% week over week, and Redfin’s Homebuyer Demand Index—a measure of requests for tours and other buying services…
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.10 percent. “The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year. Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.” News Facts The 30-year FRM averaged 7.10 percent as of April 18, 2024, up from last week when it averaged 6.88 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent. The 15-year FRM averaged 6.39 percent, up from last week when it averaged 6.16 percent. A…
Existing-home sales slipped in March, according to the National Association of Realtors®. Among the four major U.S. regions, sales slid in the Midwest, South and West, but rose in the Northeast for the first time since November 2023. Year-over-year, sales decreased in all regions. Total existing-home sales[i] – completed transactions that include single-family homes, townhomes, condominiums and co-ops – receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year-over-year, sales waned 3.7% (down from 4.35 million in March 2023). “Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” said NAR Chief Economist Lawrence Yun. “There are nearly six million more jobs now compared to pre-COVID highs, which suggests more aspiring home buyers exist in the market.” Total housing inventory[ii] registered at the end of March was 1.11 million units, up 4.7% from February and 14.4%…
![21% of Mortgage Offers Went to Gen X Homebuyers in 2023 [New LendingTree Report] [New LendingTree Report]](/media/k2/items/cache/52b224be2921066656928bea6ef1574e_S.jpg)
Many members of Generation X — born between 1965 and 1980 — are well into their middle age. While most Gen Xers aren’t house hunting, they make up a notable chunk of homebuyers in today’s expensive housing market. To highlight where Gen Xers are looking to buy, we analyzed mortgage offers given to users of our online shopping platform across the nation’s 50 largest metropolitan areas in 2023. Here's what we found. Across the nation’s 50 largest metros, 21.25% of mortgage offers in 2023 on the LendingTree platform went to Gen Xers. Gen Xers made up the largest share of potential homebuyers in Miami, Riverside, Calif., and Las Vegas. In Miami, 27.43% of mortgage offers made on the LendingTree platform went to Gen Xers. The shares in Riverside and Las Vegas were 27.14% and 27.07%, respectively. Gen Xers made up the smallest share of potential buyers in Buffalo, N.Y., Salt Lake…
More...
Nationwide, one-third of homeowners who lost insurance have moved or plan to move, but nearly the same share are staying in their home with little or no coverage Nearly three-quarters (70.3%) of Florida homeowners and over half (51%) of California homeowners say they or the area they live in has been affected by rising home insurance costs or changes in coverage (e.g., their insurer dropped them) in the past year. That compares with less than half (44.6%) of homeowners nationwide, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. This report is based on a Redfin-commissioned survey by Qualtrics in February 2024. The nationally representative survey was fielded to 2,995 U.S. homeowners and renters. Insurance is top of mind for homeowners in Florida and California because those states are the epicenters of the insurance housing crisis. Many homeowners have seen their premiums skyrocket, and some have…
Freddie Mac (OTCQB: FMCC) Multifamily today announced a series of policy and process enhancements that further strengthen underwriting due diligence, bolster fraud detection and deterrence, and mitigate other risks. Effective April 18, the changes include enhanced property inspection requirements and additional due diligence, among other measures. "Freddie Mac remains focused on risk management and works to enhance our processes to better detect and deter fraud and misrepresentation,” said Ian Ouwerkerk, senior vice president of Multifamily Underwriting & Credit. “We take these issues seriously, and these enhancements are just the latest step in our effort to manage risk and improve our execution." The enhancements will appear in Freddie Mac’s Multifamily Seller/Servicer Guide (“Guide”) and take effect on April 18. They specifically include the following: Property inspections will require an increased number of unit inspections and higher lease audit sample sizes. Additional documentation will be required for lease audits to confirm actual tenant…
The buzzwords of today’s digital age are ‘AI’ and ‘Artificial Intelligence.’ These excite some and strike fear into others. Yet whatever your position, this Hard Trend is undeniable and will shape the future of your business or organization in some way. Applications like ChatGPT, deep data algorithms, and others are changing the face of work and how we approach business practices at an unprecedented speed. So what does that mean for the roles we have at work? Better yet, how do employers acquire talent with the skills necessary to keep operations progressing into the future? And finally, how do employees adapt when many of the tasks they are used to completing are being transformed by AI? AI Is Moving Fast Organizations and employees alike find comfort in their tried-and-true operations, but the business world is never constant — change is the only constant. According to a recent report completed by Goldman Sachs, 60% of the…
Lack of affordability is the most commonly cited reason renters don’t believe they’ll ever own a home Nearly two in five (38%) U.S. renters don’t believe they’ll ever own a home, up from roughly one-quarter (27%) less than a year ago, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Lack of affordability is the prevailing reason renters believe they’re unlikely to become homeowners. Nearly half (44%) of renters who don’t believe they’ll buy a home in the near future said it’s because available homes are too expensive. The next most common obstacles: Ability to save for a down payment (35%), ability to afford mortgage payments (33%) and high mortgage rates (32%). Roughly one in eight (14%) simply aren’t interested in owning a home. This is according to a Redfin-commissioned survey of roughly 3,000 U.S. residents, including about 1,000 renters, conducted by Qualtrics in February 2024.…
Agent Resource
From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.