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CoreLogic Reports October Home Prices Increased by 3.5% Year Over Year
DECEMBER 03, 2019 - (IRVINE, CALIF.) -- CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2019, which shows home prices rose both year over year and month over month. Home prices increased nationally by 3.5% from October 2018. On a month-over-month basis, prices increased by 0.5% in October 2019. (September 2019 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results each month.) Home prices continue to increase on an annual basis with the CoreLogic HPI Forecast indicating annual price growth will increase by 5.4% from October 2019 to October 2020. On a month-over-month basis, the forecast calls for home prices to increase by 0.2% from October 2019 to November 2019. The CoreLogic HPI Forecast is a projection of home prices calculated using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. "Local home-price growth can deviate widely from the change in our U.S. index," said Dr. Frank Nothaft, chief economist at CoreLogic. "While we saw prices up 3.5% nationally last year, home prices also declined in 22 metropolitan areas. Price softness occurred in some high-cost urban areas and in metros with weak employment growth during the past year." According to the CoreLogic Market Condition Indicators (MCI), an analysis of housing values in the country's 100 largest metropolitan areas based on housing stock, 35% of metropolitan areas have an overvalued housing market as of October 2019. The MCI analysis categorizes home prices in individual markets as undervalued, at value or overvalued, by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income. As of October 2019, 27% of the top 100 metropolitan areas were undervalued, and 38% were at value. When looking at only the top 50 markets based on housing stock, 40% were overvalued, 20% were undervalued and 40% were at value in October 2019. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10% above the long-term, sustainable level. An undervalued housing market is one in which home prices are at least 10% below the sustainable level. During the second quarter of 2019, CoreLogic, together with RTi Research of Norwalk, Connecticut, conducted an extensive survey measuring consumer-housing sentiment among millennials. The survey showed that millennials are mostly unconcerned about qualifying for a mortgage. Three out of four millennials, or 75%, say they are confident they would qualify for a loan with their current financial situation. Still, despite this confidence, more than half of the cohort cites buying a home as a stressful experience, noting spending the majority of their savings as one of the leading stressors. "Nationally, over the past year, home prices are up 3.5% with the rate of growth accelerating from September into October," said Frank Martell, president and CEO of CoreLogic. "We expect home prices to rise at least another 5% over the next 12 months. Interestingly, this persistent increase in home prices isn't deterring older millennials. In fact, 25% of those surveyed anticipate purchasing a home over the next six to eight months." About the CoreLogic Consumer Housing Sentiment Study In the second quarter of 2019, 877 renters and homeowners were surveyed by CoreLogic together with RTi Research. This study is a quarterly pulse of U.S. housing market dynamics. Each quarter, the research focuses on a different issue related to current housing topics. This first quarterly study concentrated on consumer sentiment within high-priced markets. The survey has a sampling error of +/- 3.1% at the total respondent level with a 95% confidence level. About RTi Research RTi Research is an innovative, global market research and brand strategy consultancy headquartered in Norwalk, CT. Founded in 1979, RTi has been consistently recognized by the American Marketing Association as one of the top 50 U.S. insights companies. The company serves a broad base of leading firms in Financial Services, Consumer Goods, and Pharmaceuticals as well as partnering with leading academic centers of excellence. About CoreLogic CoreLogic, the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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Home Sellers Will Remain on the Sidelines in 2020
Realtor.com forecast predicts inventory to evaporate making it more challenging for buyers to find a home despite attractive interest rates SANTA CLARA, Calif., Dec. 4, 2019 -- At a time when millennials are reaching key life milestones, the U.S. housing market will continue to slow in 2020 as inventory reaches historic lows and economic uncertainty prompts consumers to pull back on their spending, according to the realtor.com 2020 housing forecast released today. The forecast predicts that despite some relief from new construction, moderating home prices and relatively low interest rates, first-time buyers will continue to struggle with affordability. Sellers will contend with flattening price growth and slowing activity. These trends will drive existing home sales down 1.8 percent to 5.23 million. Highlights of the realtor.com® 2020 forecast include: Home prices will flatten, increasing just 0.8 percent nationwide. Prices will decline in more than 25 percent of the 100 largest metros, including Chicago, Dallas, Las Vegas, Miami and San Francisco. Inventory shortages will prevail and could reach historic lows, especially the entry-level category. Mortgage rates will remain reasonable, averaging 3.85 percent throughout the year. Affordability will remain a key driver for buyers, benefitting mid-sized markets. Millennials – with the oldest members approaching 40 and the biggest cohort turning 30 in 2020 – will surpass 50 percent of all home purchase mortgages. With little incentive to sell, baby boomers will continue to hold onto their homes, while Gen X is more likely to upsize, freeing up some entry level inventory. "Housing remains a solid foundation for the U.S. economy going into 2020," said George Ratiu, senior economist at realtor.com®. "Although economic output is expected to soften – influenced by clouds of uncertainty in the global outlook, business investment and trade – real estate fundamentals remain entangled in a lattice of continuing demand, tight supply and disciplined financial underwriting. Accordingly, 2020 will prove to be the most challenging year for buyers, not because of what they can afford, but rather what they can find." What will 2020 be like for buyers? Buying a home in 2020 will be a mixed bag. It will offer more opportunities for some as the supply of new homes begins to offset inventory pressure that has built over the last four years, interest rates remain reasonable and home prices flatten. The broad price moderation will continue to make mid-sized markets in the Midwest and South attractive. However, the construction of new homes in 2019 was largely isolated to upper-tier of housing and that is unlikely to ease conditions for first-time homebuyers. Additionally, while qualifying for a mortgage could be easier on paper due to stabilizing prices and a still relatively low rate environment, the total number of homes available for sale will hit a record low. What will 2020 be like for sellers? Sellers in 2020 will grapple with dormant price growth and slowing activity, which will require a greater level of patience and a thoughtful approach to pricing. Entry-level home sellers can expect steady competition for their homes, which will keep prices firm. Upper-tier housing is expected to be softer as properties will likely sit on the market longer, requiring greater incentives to close deals. As the market moves toward a more balanced scenario, sellers who adjust to local market conditions can expect to benefit from continuing demand. Forecasted key 2020 housing trends Millennials expand their domination of the market – Demand from those born between 1981-1997 will reach new highs in 2020 with millennials accounting for more than 50 percent of all mortgages by the spring. Several factors are at play here. In 2020, the largest cohort of millennials – 4.8 million of them – will turn 30, a time when many purchase their first home, while the oldest members of the generation will reach 39, often a point when many look to move from the city to the suburbs for family-friendly amenities. The largest generation in history will consolidate their top spot in mortgage originations and effectively outnumber Gen X and baby boomers combined in their share of purchases. Growing economic uncertainty – Although a recession isn't likely in 2020, the economy will show signs of softening. The pullback in business spending is expected to lead to a slowdown in consumer spending. Housing remains the largest single consumer expense, making home-buying activity a major contributor to the U.S. economy and a bellwether for economic expectations. Rising uncertainty about the economic outlook will dampen consumer enthusiasm about spending, leading to a decline in sales and an increase in homeowners' tenure. Low inventory – Despite increases in new construction, next year will once again fail to bring a solution to the inventory shortage that has plagued the housing market since 2015. Inventory could reach a historic low as a steady flow of demand, especially for entry level homes, and declining seller sentiment combine to keep a lid on sales transactions. With housing prices expected to stabilize and concern over economic uncertainty, there will be little incentive for baby boomers to sell in the coming year. The younger Gen X is more likely to upsize and free up entry level homes, but not fast enough to ease inventory woes. Affordability brings secondary markets to the center stage – As buyers are priced out of suburban environments near large metropolitan areas, they will begin searching for family-friendly lifestyles in other metros or across state lines. Cities in Arizona, Nevada and Texas will continue to benefit from shoppers looking for more affordable alternatives to California. Meanwhile, home seekers from expensive Northeast markets will find the warmer options in the Carolinas, Georgia and Florida attractive. Midwest markets will become more attractive, as buyers will find the affordable housing and solid, diversified economies of Ohio, Indiana and Kansas compelling. Election will be 2020 wild card – Along with the presidential election, there will be candidates running for 35 of the 100 seats in the U.S. Senate, along with 435 seats in the House of Representatives. The 2020 elections will be closely watched by consumers and businesses for indications of potential changes. Although the outcome of the presidential election is not directly tied to the performance of the housing market, business optimism and investments, along with consumer confidence and spending do influence economic output, and can also influence housing activity. Looking at housing trends over the past three decades, the pace of sales, price and inventory are intertwined with economic performance – employment, wages, and interest rates. Realtor.com® 2020 Housing Market Forecast Sale and Price Forecast for 100 Largest Markets About realtor.com® Realtor.com®, The Home of Home Search℠, offers the most MLS-listed for-sale listings among national real estate portals, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. Through its Opcity platform, realtor.com® uses data science and machine learning to connect consumers with a real estate professional based on their specific buying and selling needs. Realtor.com® pioneered the world of digital real estate 20 years ago, and today is a trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Second Century Ventures Accepting Applications for the 2020 REACH and REACH Commercial Classes
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Pending Home Sales Decline 1.7% in October
WASHINGTON (November 27, 2019) -- Pending home sales retreated in October, taking a slight step back after two prior months of increases, according to the National Association of Realtors. The Northeast experienced a minor uptick last month, but the other three major U.S. regions reported declines in month-over-month contract activity. However, pending home sales were up nationally and up in all regions compared to a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, fell 1.7% to 106.7 in October. Year-over-year contract signings jumped 4.4%. An index of 100 is equal to the level of contract activity in 2001. Lawrence Yun, NAR's chief economist, noted the decline in inventory and a small rise in mortgage rates in October from September to, in part, explain this month's signings drop. "While contract signings have decreased, the overall economic landscape remains favorable," Yun said. "Mortgage rates continue to be low at below 4% – which will attract buyers – employment levels are strong and many recession claims have dissipated." Pointing to data from active listings at realtor.com®, Yun says the markets where listing prices are around $250,000 – an affordable price point in most markets nationally – are drawing some of the most significant buyer attention, including Fort Wayne, Ind., Pueblo, Colo., Columbus, Ohio, Rochester, N.Y., and Lafayette, Ind. "We still need to address and, more importantly, correct inadequate levels of inventory across the country," Yun said. "There is no shortage of buyers seeking homes, but a lack of available units continues to drag down the nation's housing market and overall economy." "We risk a lingering shortage of sufficient inventory if homebuilding only continues at its current pace over the next 20 years, when the U.S. population is projected to increase by more than 40 million over this period. Clearly, home builders must step in and construct more housing." October Pending Home Sales Regional Breakdown With the exception of the Northeast, all regional indices saw declines in October. The PHSI in the Northeast rose 1.9% to 95.7 in October, 3.0% higher than a year ago. In the Midwest, the index slid 2.7% to 101.4 last month, 1.8% higher than in October 2018. Pending home sales in the South decreased 1.7% to an index of 125.3 in October, a 5.1% increase from last October. The index in the West declined 3.4% in October 2019 to 91.9, which is an increase of 7.5% from a year ago. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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iGUIDE Continues to Increase the Functionality of Their Immersive 3D Virtual Tours with the Introduction of Advanced Measurements
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Redfin Predicts Homebuyers Will Have Fewer Options, Bidding Wars Will Rebound in 2020
Charleston and Charlotte will lead the nation in home-price growth as more people and employers move to affordable Southeast cities SEATTLE, Nov. 25, 2019 -- The housing market will be more competitive in 2020 as the cooldown that began in the second half of 2018 comes to an end, according to new predictions released by Redfin, the technology-powered real estate brokerage. "Low mortgage rates started to revitalize the market at the end of this summer, but we won't see their full impact on demand for housing until next year," said Redfin chief economist Daryl Fairweather, who authored the report. "In 2020, buyers will have fewer homes to choose from than they have in five years. But the return of bidding wars is good news for sellers who may have been holding out this year as the market stabilized. The competition and faster price growth will tempt more homeowners and builders to list homes, which will help improve the balance between supply and demand by the end of the year." Redfin's 2020 housing market predictions: Bidding wars will rebound thanks to low mortgage rates and a lack of homes for sale Low mortgage rates will continue to strengthen homebuying demand, but due to a lack of new homes for sale and homeowners staying put longer, there will be fewer homes on the market in 2020 than in the past five years. More demand and less supply mean bidding wars will rebound in the first quarter. Redfin expects about one in four offers to face bidding wars in 2020 compared to only one in 10 in 2019. This increase in competition will push year-over-year price growth up to 6% in the first half of the year, considerably stronger than the 2% growth seen in the first half of 2019. Supply and demand will become more balanced later in the year as more listings of new and existing homes hit the market and price growth will moderate to 3%. 30-year fixed mortgage rates will stabilize at 3.8% Throughout 2020, 30-year fixed mortgage rates will remain low, hovering around 3.8%. Faced with slowing economic growth, the Federal Reserve will keep interest rates low. Although the housing market is strong, weakness in other sectors, like manufacturing, is pulling down on the economy. Because investors are already bracing for the possibility of a recession, Redfin doesn't expect mortgage rates to fall much lower than 3.5% in 2020 even if the economy weakens. If the economy strengthens, Redfin expects mortgage rates to stay below 4.1%. For the first time, Hispanic Americans will gain more wealth from home equity than white Americans In the next decade, Hispanic Americans will, for the first time, gain more home equity than white Americans. That's because the majority of new homeowners are Hispanic, and home values in Hispanic neighborhoods are increasing faster than in white neighborhoods. There are more Hispanic homeowners in Texas than in any other state, and Texas cities are likely to experience strong gains in home values over the next decade as people move here from more expensive places like San Francisco and Los Angeles. Over time, this will improve economic equality for Hispanic Americans. Climate change will become a bigger financial factor for homebuyers and sellers In 2020, homebuyers and sellers will take the consequences of climate change into account when deciding to buy. The financial costs of climate change are already becoming more tangible as fire and flood insurance premiums rise. Over the next decade, higher insurance premiums in high-risk areas will make housing even less affordable to more people. And in areas with the highest risk, insurers may stop providing insurance altogether, which means it will be nearly impossible to secure a mortgage in those areas. Charleston and Charlotte will lead the nation in home price growth Affordable Southeast cities like Charleston and Charlotte are attracting an increasing number of migrants from expensive cities, which will drive up home price growth in these areas. Charleston saw a 104% annual increase in the number of Redfin users looking to move in, relative to the number of users looking to move out, in the third quarter of 2019, and Charlotte saw a 44% increase. Migrants are attracted to the growing economies of Charleston and Charlotte—Microsoft is spending $23 million to expand its Charlotte campus, and in Charleston, the new Volvo plant is adding thousands of jobs. More city streets will become car-free In 2020, more cities will favor green modes of transit and actively discourage driving. Some cities already have plans in the works—San Francisco's Market Street will transform into a car-free corridor in 2020, and New York City drivers will have to pay to drive into the heart of the city beginning in 2021. In cities that become less car-friendly, those that frequently spend time in the city-center will place more value on a commute that doesn't require a car and move to either a walkable city-center or close to public transit. Meanwhile, some people will choose to avoid the city-center altogether and put a higher value on suburbs where they can work, play and live. To read Redfin's full predictions, please click here. To find out which of the predictions come true and which turn out to be incorrect, follow the Redfin Blog for real-time research on the housing market. About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales.
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Home Showings Increase Across U.S. for Third Consecutive Month Compared to 2018
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CFPB Releases New Report Exploring Differences between Large and Small Mortgage Servicers
Washington, D.C. -- The Consumer Financial Protection Bureau released today a report examining the differences between large and small mortgage servicers. The report explores the role servicers of different sizes play in the mortgage market where size is defined by the number of loans serviced. Because of differences in the resources, capabilities, customer base, and business models of financial institutions of varying sizes, the impact of consumer finance regulations can vary as well. The report finds that smaller servicers, such as community banks and credit unions, play an outsize role in rural areas, that the loans they service are less likely to be sold to Fannie Mae or Freddie Mac or to be government-backed, and that during the financial crisis they experienced lower delinquencies. Key findings in the report include: 74 percent of borrowers with mortgages at small servicers said having a branch or office nearby was important in how they chose their mortgage lender, compared to 44 percent at large servicers; delinquency rates on loans at servicers of all sizes increased substantially starting in 2008, but peak delinquency rates were much lower for small servicers than for large and mid-sized servicers; and smaller servicers have a greater share of mortgages in non-metro or completely rural counties. A link to the report may be found here. The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.
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Existing-Home Sales Climb 1.9% in October
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Home Prices Rise Annually Across Most Opportunity-Zone Redevelopment Areas
Median Prices Rise Year-Over-Year in Two-Thirds of Zones Targeted for Tax Breaks IRVINE, Calif. (November 21, 2019) -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second special report analyzing qualified Opportunity Zones established by Congress in the Tax Cuts and Jobs act of 2017 (see full methodology below). In this report, ATTOM looked at nearly 3,700 zones with sufficient sales data to analyze, which included home sales prices with at least five home sales in each quarter from 2005 through the third quarter of 2019. The report found that about half the zones saw median home prices rise more than the national increase of 8.3 percent from the third quarter of 2018 to the third quarter of 2019. The report also shows that 79 percent of the zones had median home prices in the third quarter of 2019 that were less than the national median of $270,000 – almost the same percentage as in the second quarter of 2019. Some 46 percent of the zones had median prices of less than $150,000, also roughly the same as in the prior quarter. "The nationwide home-price surge in the third quarter spread through so-called Opportunity Zones, much as it did the rest of the country," said Todd Teta, chief product officer with ATTOM Data Solutions. "Despite sitting in some of the nation's poorest areas, Opportunity Zones were hardly immune from a housing boom heading into its ninth year. That's encouraging news for people living in those communities as well as investors looking to take advantage of the Opportunity Zones program." High-level findings from the report include: Among the 3,658 Opportunity Zones with sufficient data to analyze, median prices rose in 48 percent of the zoned areas by more than the national rate of gain from the third quarter of 2018 to the third quarter of 2019. The national year-over-year increase was 8.3 percent. Among the 3,658 Opportunity Zones with sufficient data to analyze, California had the most Opportunity Zones, with 477, followed by Florida (332), Texas (293), Pennsylvania (176) and North Carolina (170). Of the tracts analyzed, 46 percent had a median price in the third quarter of 2019 of less than $150,000 and 17 percent ranged from $150,000 to $199,999. Another 16 percent ranged from $200,000 up to the national median of $270,000, 21 percent were more than $270,000. All percentages were similar to those in the second quarter of 2019. In Metropolitan Statistical Areas with sufficient sales data to analyze, 87 percent of Opportunity Zones had median third quarter sales prices that were less than the median values for the surrounding MSAs. Among those, 31 percent had median sales prices that were less than half the figure for the MSAs. At the same time, 13 percent of the zones had median sales prices that were equal to or above the median sales price of the broader MSAs. The Midwest continued to have the highest rate of Opportunity Zone tracts with a median home price of less than $150,000 (71 percent), followed by the South (56 percent), the Northeast (47 percent) and the West (12 percent). States with the highest percentage of census tracts meeting Opportunity Zone requirements include Wyoming (17 percent), Mississippi (15 percent), Alabama (13 percent), North Dakota (12 percent) and New Mexico (12 percent). Washington, DC, also is among the leaders (14 percent). Nationwide, 10 percent of all tracts qualify. Report methodology The ATTOM Data Solutions Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM Data Solutions compared median home prices in tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in each quarter from 2005 through the third quarter of 2019. Median household income data for tracts and counties comes from surveys taken the U.S. Census Bureau (www.census.gov) from 2013 through 2017. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included in the West region for this report. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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Millennials Still Want Single-Family Homes, Even if it Means a Long Commute
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NAR's HouseLogic Website Wins Two Folio: Eddie and Ozzie Awards for Design and Content
CHICAGO (November 21, 2019) -- The National Association of Realtors' consumer-facing website, HouseLogic, is the winner of two prestigious Folio: Eddie & Ozzie Awards, presented by Folio Magazine. These accolades are among the most esteemed of its kind in the publishing industry. HouseLogic content covers home buying, selling, improvement, maintenance, taxes, finance and insurance issues helping users get the most value and enjoyment out of their home ownership experience. HouseLogic's article series, "They Did It. You Can Do It. New Home Buyers Tell All," won the Consumer, Shelter/Home/Garden Best Article Series category. In these stories, NAR interviewed recent, first-time home buyers from across the country about their buying journey. Each feature included the buyers' own observations about how their Realtor® helped them through the multi-step process along with original photography. Other consumer publications that won for article series in their respective categories include, "Anglers Journal," "Boys Scouts of America," "ESPN, The Magazine," and "Readers Digest". HouseLogic was also recognized as a winner in the Consumer, Website/Shelter/Home/Garden category. Other website winners include WebMD, Afar, NatGeokids.com, and BaltimoreMagazine.com. "We are extremely proud that HouseLogic is the recipient of these prestigious awards. The site showcases the critical work Realtors® do every day to help clients navigate the home buying process," said NAR CEO Bob Goldberg. "This content provides our members with another tangible way to demonstrate their value to consumers and is an example of our effective consumer digital outreach." HouseLogic is a free source of information and tools from NAR designed to help Realtors® ensure their clients and U.S. consumers make smart and timely decisions about their homes. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Unacast Expands The Real World Graph to Include Neighborhood Activity and Travel Patterns
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Homesnap Launches "Who's Viewed My Listings and Profile" Feature
Agents asked for it, so Homesnap listened. We're excited to announce our latest feature, Who's Viewed My Listings & Profile! Who's Viewed allows you to see how many consumers have viewed your listings in the last 90 days, as well as how many agents have viewed your profile and listings in the last 90 days. If you have Homesnap Pro+, the premium version of our free app, you can also see who those agents are. We recently surveyed agents and discovered this was a highly sought-after feature, and it's easy to see why. This new functionality makes it even easier for agents to get feedback from buyers' agents, prove their value to sellers by sharing viewership stats, expand their networks and get a better understanding of their digital presence. See How It Works As a Homesnap Pro member, you can: See how many consumers have viewed your listings in the past 90 days (including a weekly change report so you can see how your stats have changed) See the count, as well as the city and state, of all agents who have viewed your listings and profile in the past 90 days (including a weekly change report so you can see how your stats have changed) Toggle on and off private mode to protect your privacy when viewing other agents' profiles and listings (similar to LinkedIn) When you upgrade to Homesnap Pro+, you can: See the specific agents who have viewed your listings and profile in the past 90 days Sort by agent productivity Send messages to agents who have viewed your profile and listings in one tap Making the Most of Who's Viewed There are many ways to take advantage of Who's Viewed to help grow your business. Here are a few examples: Connect with interested buyers: Knowing who's viewed your profile and listings is important for lead generation, as you can directly message buyers' agents and begin building connections as soon as you see someone is interested in your listing. Report back to your sellers: You can tell your clients exactly how many agents and consumers have viewed their listing in the past 90 days. This reinforces that you're marketing their listing well and getting it more visibility, which will impress your sellers. Monitor your growing business: Who's Viewed can also help you understand how your digital presence is changing over time, as weekly reports on how your profile and listing views have changed give valuable feedback. This is one of many Homesnap Pro features that help agents forge more connections in the real estate industry, joining: Your listing, your lead — we never sell ad space on your listings, so you're the person who people will contact for more listing information In-app messaging, so you can maintain client relationships without leaving the Homesnap app Homesnap Pro Ads, a digital marketing solution to help agents like you expand their networks and generate new leads How Am I Connected, so you can see mutual connections and learn more about each one via Homesnap Pro To view the original post, visit the Homesnap blog.
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Realtor.com Hack-it-Forward Event Supports 14 Local Charities Across U.S. and Canada
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Winter Holiday Staging Checklist for Your Clients
Winter is the most holiday-packed season of the year, and sellers rarely want to give up on the opportunity to dress their home for the occasion. Here are ten tips to help your clients celebrate the season in style while creating an appealing atmosphere for potential buyers. For more staging tips, download the free Homeowner's Guide to Staging eBook. This guide has staging tips for every season, as well as the ten staging basics every home seller should know. To view the original post, visit the Homes.com blog.
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Redfin Report: National Bidding War Rate on Homes Hit a 10-Year Low in October
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U.S. Foreclosure Activity in October 2019 Climbs Upward from Previous Month
Completed Foreclosures (REOs) Reach Highest Point in 2019; Two Metro Areas in Illinois Now Rank Highest in Worst Foreclosure Rate; Foreclosure Starts Increase 17 Percent From Last Month IRVINE, Calif. (Nov. 14, 2019) -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its October 2019 U.S. Foreclosure Market Report, which shows there were a total of 55,197 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October 2019, up 13 percent from the previous month but down 17 percent from a year ago. "While foreclosure activity across the United States rose in October, in looking at historical trends, October numbers tend to increase as lenders may be pushing filings through the pipeline before the holiday season," said Todd Teta, chief product officer with ATTOM Data Solutions. "The latest number is still below where it was a year ago and less than 15 percent of what it was during the depths of the Great Recession." Foreclosure completion numbers climb in 2019 Lenders repossessed 13,484 U.S. properties through completed foreclosures (REOs) in October 2019, up 14 percent from last month, hitting the highest point in total number of completed foreclosures in 2019. States that saw the greatest number in REOs in October 2019 included: Florida (1,493 REOs); Texas (912 REOs); Michigan (890 REOs); California (824 REOs); and Illinois (805 REOs). Those major metropolitan statistical areas (MSAs) with a population greater than 200,000 that saw the greatest number of REOs included: Detroit, MI (705 REOs); New York, NY (684 REOs); Chicago, IL (679 REOs); Philadelphia, PA (470 REOs); and Atlanta, GA (430 REOs). Highest foreclosure rates in New Jersey, Illinois and Maryland Nationwide one in every 2,453 housing units had a foreclosure filing in October 2019. States with the highest foreclosure rates were New Jersey (one in every 1,316 housing units with a foreclosure filing); Illinois (one in every 1,336 housing units); Maryland (one in every 1,484 housing units); South Carolina (one in every 1,534 housing units); and Florida (one in every 1,571 housing units). Among the 220 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in October were Peoria, IL (one in every 832 housing units); Rockford, IL (one in every 889 housing units); Atlantic City, NJ (one in every 933 housing units with a foreclosure filing); Fayetteville, NC (one in every 962 housing units); and Columbia, SC (one in every 1,028 housing units). Foreclosure starts increase monthly in 36 states Lenders started the foreclosure process on 28,667 U.S. properties in October 2019, up 17 percent from last month but down 1 percent from a year ago — the first double-digit month-over-month increase since February 2018. States that saw a double digit increases from last month included: Arizona (up 52 percent); Ohio (up 52 percent); Florida (up 48 percent); New Jersey (up 47 percent); and California (up 36 percent). Counter to the national trend, 13 states including Washington, DC posted month-over-month decreases in foreclosure starts in October 2019, including Maryland (down 42 percent); Idaho (down 36 percent); Delaware (down 32 percent); Nebraska (down 26 percent); and Utah (down 25 percent). About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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CoreLogic Reports U.S. Overall Delinquency Rate Lowest for an August in at Least 20 Years but Five States Post Annual Gains
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Adwerx Integrates with DocuSign to Automate Seller Satisfaction Module
Home sellers will automatically experience their home being advertised online DURHAM, NC, Nov. 8, 2019 -- Adwerx announced a new advertising integration with DocuSign Rooms for Real Estate. The move will extend DocuSign's real estate presence and streamline Adwerx's data entry processes for its clients. With the integration, agents can easily automate the seller satisfaction module of Adwerx advertising, distributing the advertising report to their sellers each day, and increasing the probability that the seller will see the ad for their home advertised on the internet. "We love collaborating with industry leaders like DocuSign to augment our services and support the success of our customers," said Jed Carlson, CEO of Adwerx. "Our process was already easy, but this integration means there is one less step for agents to share data and deliver value to their clients." Rooms for Real Estate is DocuSign's digital solution for brokers and agents that streamlines the transaction process. Adwerx's seller satisfaction module allows sellers to see their own home advertised on major websites, social media and apps, and receive reports with the ad's success metrics. Sellers are also given an "easy button" for posting their property to social media, increasing the reach of their listing. This benefit is available to real estate agents using Adwerx's Automated Listing Advertising Program at no cost, but is often overlooked by agents overwhelmed with the daily tasks required to maintain their business. The efficacy of this service has been proven as sellers are consistently delighted by tangible proof of their agent's marketing efforts. The integration is now live. For more information on Adwerx please visit adwerx.com, and for DocuSign visit docusign.com. About Adwerx Adwerx provides Brilliantly Simple Digital Advertising™ for real estate, mortgage, insurance, financial services, and other businesses. Ads powered by Adwerx have received billions of impressions on social media, mobile platforms, and the most widely read news sites. Adwerx has served over 200,000 customers across the U.S., Canada, and Australia and has been named to the Inc. 5000 list of America's Fastest Growing Private Companies for three consecutive years, as well as received Inc.'s Best Workplaces award. To see how Adwerx can work for you, please visit www.adwerx.com. Plus, NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®' REALTOR Benefits® Program.
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Realtor.com Study Finds Amazon Delivers High Home Prices
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Zurple Launches Social Bundle, Automates Agent Social Media Marketing with MLS Integration
Agents using Zurple can now leverage the Social Bundle to automatically reach prospects across multiple platforms with MLS integration, IDX listings and video content creation SAN DIEGO (NOVEMBER 12, 2019) -- Zurple, the definitive real estate lead nurturing solution for real estate agents, has announced the release of its Social Bundle, with all-new integrated social media marketing features. The Social Bundle allows agents to create and schedule posts to several social platforms, utilizing listing data pulled directly from the MLS. Initially launching in early October with listing posts to Facebook, the Social Bundle has now expanded to include plug-n-play listing videos, daily IDX listing posts, YouTube posting and more. Agents using Zurple can now leverage the Social Bundle to connect and convert prospects with enhanced automation and MLS integrations that boost engagement across multiple platforms with fully-integrated social campaigns for listings. For real estate agents looking to build their pipeline and reach consumers on Facebook, Twitter, YouTube or LinkedIn, delivering engaging, timely content on a consistent basis is vital to lead generation. The new suite of tools in Zurple's Social Bundle helps agents generate social leads, expand their sphere, and build their personal brand with localized and timely marketing. "With social media increasingly playing an active role real estate agent success, adopting tools that enable agents by automating the leg work that goes into converting leads in the digital space ensures competitiveness in both their local markets and the industry as a whole," said Jack Markham, General Manager of Zurple. "Zurple's new Social Bundle is an incredible value-add for Zurple offerings and a great tool to help our customers maximize their online presence." "Social media marketing is a key element of managing my lead pipeline and Facebook has become an invaluable tool for me, both as a channel to engage my existing network but also to reach new buyers," said Brandon Doyle of RE/MAX Results and coauthor of M3 – Mindset, Methods & Metrics: Winning as a Modern Real Estate Agent. "Daily posts on listings in the Twin Cities will help me build my following and make sure I'm seen consistently in the News Feed. I'm thrilled Zurple has made it so easy to reach a key audience." The Social Bundle is now live for all Zurple users. About Zurple Zurple provides thousands of realtors with a robust marketing automation platform. Founded in 2009 and previously ranked as one of the fastest growing companies in America by the Inc. 5000, Zurple offers a complete real estate marketing solution that generates leads, initiates conversations, and tracks lead behavior that improves conversion and close rates. Zurple is part of the Constellation Real Estate Group, which is a division of Constellation Software, Inc. The Constellation Real Estate Group acquires and invests in real estate software brands that are committed to providing long-term solutions and partnerships with franchises, brokers, agents, MLSs, and associations. Over 500,000 real estate agents, teams, and brokerages across North America rely on CREG's products and services to power, manage, and grow their businesses. For more information about Zurple, visit: zurple.com. For more information on the Constellation Real Estate Group, visit: constellationreg.com.
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U.S. Homeowners Found Far More Likely to Be Equity Rich than Seriously Underwater in Q3 2019
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Homes.com Fine Tunes Listing Detail Pages to Create More Leads for You
Homes.com is committed to your success and we're always looking for ways to attract more high quality leads for your business. With that goal in mind, we've recently upgraded the listing detail pages on Homes.com. These pages now have more contact forms in easier to locate positions to make it simpler for buyers and sellers to request information on the property they're in love with. What's New Simpler Forms – In the past, we listed the listing agent as well as up to three advertising agents on the main contact form at the top of the listing details page. Now, we've removed all agent names, photos, and phone numbers from the contact forms. This makes the forms easier to understand and has, so far, proven to increase the number of buyers and sellers filling out the form. More Contact Options – We've added additional ways for buyers and sellers to reach out to agents on the listing details page. In addition to the primary contact form, which will remain in view as users scroll down the page, buyers and sellers can contact an agent from the Local Experts section, a call to action in the Home Details section, through the Schedule a Tour tool, and in the Similar Homes section of the page. On mobile devices, "Call Now" and "Request Info" options remain at the bottom of the page so leads can easily reach out to an agent. Direct Connect #s – Having too many phone numbers on the listing detail pages confuses buyers and sellers who want to find out more about a specific property, so our listing pages now offer just one phone number at a time on the primary lead form. This number will be rotated based on an agent's share of Local Connect advertising for the zip code. Any leads coming through this Direct Connect phone number will go directly to the agent and be exclusive opportunity for that advertiser. Local Experts Section – Agents using the Local Connect advertisements now receive special exposure in the Local Experts section of the listing details page. Up to three subscribing agents will have their name, phone number, photo, and a link to their agent profile. If the Local Expert also subscribes to Preferred Listings or Lead Concierge, the corresponding badges will also display under their name. Schedule a Tour– It's easy to fall in love with a listing online. When that happens, buyers want to schedule a tour as soon as possible. We've made it easy to request a tour with this new tool. It offers a variety of times buyers can request a showing and sends that information over to the advertising and listing agents for follow up! Homes.com is always looking for ways to generate more high quality leads for real estate agents, but no matter one thing never changes at Homes.com is our position that the leads your listings generate should always go to you. As such, every time a lead form is submitted on your listing, you will get that lead. To learn more about how Homes.com's advertising opportunities can benefit your business, click here. To view the original post, visit the Homes.com blog.
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Luxury Housing Market Stabilized in the Third Quarter After a Weak First Half
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Families Using Creativity When Buying, Selling Homes: 2019 Buyer and Seller Survey
One-third of first-time buyers used down payment help from family, friends SAN FRANCISCO (November 8, 2019) – With housing costs rising and no signs of a deceleration, first-time buyers are turning to family for help when embarking on homeownership. In spite of this, the percentage of first-time buyers remain at historic lows. This is according to a new report from the National Association of Realtors®, the 2019 Profile of Home Buyers and Sellers, a yearly report which covers demographics, preferences and experiences of buyers and sellers across America. The full report will be released the afternoon of Friday, November 8, at NAR's Annual Meeting. Initial results from this year's report revealed that a third of first-time home buyers used down payment help from family and friends. Also, it showed that the share of first-time home buyers remained at 33% in 2019. This figure continues to be below the historical norm of 40% of recent primary residence home buyers in the market. "Prerecession, the number of first-time buyers was higher, in part, because buyers had more options," said NAR President John Smaby, a second-generation Realtor® from Edina, Minnesota, and broker at Edina Realty. "However, over the past few years, we have unfortunately experienced a scarcity in housing inventory, especially at the middle- and lower-end of the market. Citing the NAR survey, NAR chief economist Lawrence Yun notes that buyers report the most difficult step in the home buying process is just finding the right home to purchase, and what buyers want most from their real estate professional is to help them find the right home to purchase. "Low inventory conditions hurt would-be first-time buyers most," said Yun. "Their homeownership dream and the opportunity to build wealth gets delayed until more inventory choices reach the market." Although tightened inventory has taken a toll on home seekers and caused steeper housing prices, home sellers in many areas of the country have been able to take advantage of these conditions. Sellers saw a very favorable market this year. In fact, home sellers received a median of 99% of their asking price this year and sold their homes typically within three weeks. The increase in home prices lowered the amount of home sellers who reported delaying selling because their home was worth less than their mortgage. This particular share of sellers declined from 9% in the 2018 report to 7% in 2019. However, 20% of sellers who bought their home 11 to 15 years ago continue to report stalling their home sale. A Change in Home Buyers' Behaviors The NAR report found that the share of new homes purchased dropped to an all-time low of 13%. This reality offers yet another indication of a significant deficiency in inventory. Also, 23% of first-time buyers moved from a family or friend's residence directly into the home they purchased. This figure represents nearly twice the historic rate of 12%. It serves as another example of home buyers adjusting to the current housing market and shows they're finding ways to save for a down payment while saving on market value rent. Additionally, the age of repeat buyers – which has steadily increased over the course of several decades – continues to show a striking trend. The average repeat buyer age was in the mid-30s in the 1980s, and has climbed to the mid-50s today. Yun says there is no area that has seen a more rapid and consistent increase than the median age of repeat buyers – which hit a record-high of 55 years old in both 2018 and 2019. Moreover, the median age for first-time buyers increased to 33 years old in 2019, the highest share recorded in the series history. Still, the share of senior-related housing purchases was 12% in 2019, a slight decline from one year ago. As prices crept higher, Yun says the demographics of home buyers shifted as well. "Buyers and sellers, individuals and families – they all had to adjust to changing market conditions." Underscoring Yun's point of a shift in demographics, the survey revealed that 35% of all buyers had children under the age of 18 living at home. This is an increase from 34% last year, but a drop from a high of 58% in 1985. Twelve percent of home buyers purchased a multi-generational home, which consists of a home with adult siblings, adult children over the age of 18 and parents or grandparents – or both – within the same household. Respondents gave varying reasons for buying multi-generational homes, including 44% to accommodate aging parents and 34% to accommodate adult children in the home. Another 29% referenced cost savings as their reasoning. The share of married couples who purchased their first home, continued the decline from a historical high of 75%. Although the percentage of married repeat buyers remained constant at 67%, the share of first-time buyers who were unmarried couples rose to a historical high of 17%. Those purchasing first homes as roommates jumped to 4% from 2% – another example of buyers seeking ways to enter ownership with affordability constraints. Survey results show that 14% of recent home buyers own more than one home, down from 17% in 2018. Home buyers who generate higher incomes and own more than one property are more commonly making home purchases, the report said. Owning more than one property was the most common for home buyers 65 years old and older, at 19%. Overall, the internet has become the main source for buyers in terms of finding a home that they ultimately purchase. Today, 52% of recent buyers found their home while searching online, an increase from last year's 50% share. In 2001, only 8% of buyers found their home this way. Finding a home through a Realtor® or an agent has shifted from being the most common source for finding a property to the second most common. While more traditional sources – yard signs, relatives and neighbors, friends and home builders – remain at last year's levels, they all have declined as a primary source throughout recent years as the internet has become the go-to information source. Embracing Industry Changes While the housing market has certainly endured its share of changes and transitions, especially over the last year, the NAR report shows that many of these changes have had positive impacts. This is especially true in regard to the home down payment requirement. In 2019, the median down payment was 12% for all buyers, 6% for first-time buyers, and 16% for repeat buyers. Lower down payments among home buyers are another result of rising home prices as buyers find it difficult to save for a down payment. Seventeen percent of all buyers and 25% of first-time buyers used an FHA loan to purchase, likely taking advantage of low down payment programs. NAR's survey asked home buyers about their personal experience with securing a mortgage. In 2019, 31% said obtaining a mortgage "was more difficult than expected." Although a considerably higher amount of people had this same answer in 2009 and in 2010, fewer respondents have this response every year since, including this year, according to the report. "Today, repeat buyer behavior is more similar to first-time buyer behavior as tenure in home has increased," said Jessica Lautz, vice president of demographics and behavioral insights at NAR. "All buyers are doing their homework – going to open houses, following housing news – and are more reliant than ever on the expert advice of real estate agents and brokers." Lautz's observation about Realtors®' contributions is echoed in the report's findings. Eighty-nine percent of those who sold a home worked with a real estate agent in the transaction. In addition, personal relationships and connections were said to be the most important feature of the agent-buyer/seller bond in both 2018 and 2019. Realtors® and real estate agents were most commonly referred by friends, neighbors or relatives, according to the report. In the midst of a housing shortage, buyers said what they wanted most from their agent was help in finding the right home to purchase. Buyers were also looking for assistance in negotiating the terms of sale and help with price negotiations. Home buyers reported that they typically interviewed only one real estate agent before deciding to work with them, and said the most important factor was that the agent was honest and trustworthy. In addition, another important factor was the agent's experience. Recent buyers reported that they were overall pleased with their real estate agent's skills and qualities, with an overwhelming 90% saying that they "very satisfied," and would use their agent again or recommend the agent to others. Characteristics of Sellers The typical home seller this year was 57 years old, with a median household income of $102,900. Home sellers said they ultimately sold their homes for a median of $60,000 more than they purchased it. For all sellers, the most frequently cited reason for selling, according to 16% of those surveyed, was a desire to move closer to family and friends, which is the first time this has been the top-cited reason in the series' history. The next most common reason was that the home was too small, and the third was job relocation at 11%. Sellers typically lived in their home for 10 years before selling it, an increase from last year's share, and elevated from the historical tenure of six years. Sixty-six percent of sellers reported being "very satisfied" with the overall selling process. Only 8% of recently sold homes were for-sale-by-owner sales, or FSBO. This total is near the lowest share recorded since the NAR began collecting records in 1981. The median age for FSBO sellers is 60 years, while 65% of FSBO sales were by married couples that have a median household income of $94,000. FSBOs typically sell for less than other residences, with last year selling at a median of $200,000, while agent-assisted homes sold at a median at $280,000. Forty-eight percent of all sellers said they bought a home that was newer than their previous home, while 28% purchased a home the same age and 24% said they purchased a home that was older. Forty-four percent of sellers said they "traded-up" and purchased a home that was more expensive than the one they just sold. Thirty percent purchased a less expensive home and 26% purchased a home that was similar in cost. Sellers who are 64 years of age and younger generally bought a more expensive home than the one they just sold. Those aged 18 to 34 purchased the most expensive trade-ups in 2019, recording an increase of $110,000. Conversely, sellers aged 65 and over typically bought a less expensive home. About NAR's Survey NAR mailed a 125-question survey in July 2019 using a random sample weighted to be representative of sales on a geographic basis to 159,750 recent home buyers. Respondents had the option to fill out the survey via hard copy or online; the online survey was available in English and Spanish. A total of 5,870 responses were received from primary residence buyers. After accounting for undeliverable questionnaires, the survey had an adjusted response rate of 3.7%. The sample at the 95% confidence level has a confidence interval of plus-or-minus 1.28%. Recent home buyers had to have purchased a home between July 2018 and June 2019. All information is characteristic of the 12-month period ending in June 2019 with the exception of income data, which are for 2018. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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Pending Home Sales Rise 1.5% in September
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Technology Companies Adwerx and ActivePipe Create Innovative Integration for Realtors
Integration Will Allow Real Estate Agents to Better Leverage Their Database for Sales DURHAM, N.C., Nov. 5, 2019 -- Adwerx, a leading provider of localized digital advertising, is now integrated with ActivePipe, an advanced drip email marketing solution offering valuable customer insights to real estate professionals. The integration is making it easy for real estate agents to automate time-consuming data entry processes and run targeted digital advertising campaigns. Through the Automated Listing Advertising Program, Adwerx provides real estate listing ads that launch when a property is publicly listed. These ads appear on the websites and mobile apps that consumers visit most and are targeted by location and lifestyle. ActivePipe allows real estate agents to identify the best prospects for a property, empowering agents to nurture contacts and build trust through a range of digital products. Their suite of products allows users to build one-off emails or automated drip campaigns that can incorporate properties, blog posts, videos, and a call to action. The Adwerx and ActivePipe collaboration will further empower agents currently using sphere of influence advertising. When integrated with ActivePipe to receive emails from open houses, listing presentations, and other events, emails will include the Adwerx QuickAdder™ from their sphere campaign and will be automatically added to the agent's sphere, bypassing manual entry. "I've loved using Adwerx and ActivePipe. They've both recently been introduced at our office and I've never looked back. I regularly receive positive feedback on our emails, their appearance, professionalism, etc. and I get at least one screenshot a day from someone who's seen my Adwerx ad online while reading the news," said Haley Urquhart, a REALTOR® Associate with Greenwood King Properties. Both companies are actively working to automate advanced digital marketing campaign processes to help users coordinate messages across channels and build a seamless customer experience. As more and more people spend their days switching between their laptops and mobile devices, designing campaigns to reach consumers in multiple spaces is becoming increasingly important. Additionally, research suggests that people are 22% more likely to purchase when they experience digital ads and open an email from the same brand. This integration will provide predictive analytics to help identify who in a CRM is most likely to become an active client, and enable agents to focus on providing superior service to home buyers and sellers. Adwerx has previously integrated with other transaction management providers, including Dotloop and SkySlope. For more information about Adwerx's services, please visit enterprise.adwerx.com. About ActivePipe ActivePipe allows real estate agents and brokers to Never Miss an Opportunity™️ through it's real estate specific email and email automation capabilities. Build a "just-listed" email to all other agents, as well as, your sphere in minutes and deploy drip campaigns specific to each property or prospect. ActivePipe nurtures the thousands of leads received each year advising the agent who, when and why to call, all supported by engagement data. A graduate of the 2018 NAR Reach class, ActivePipe is helping tens of thousands of customers across the U.S., Australia and the UK by delivering relevant property content, to the right person at the right time. To get in touch with the ActivePipe team or simply learn more, please visit activepipe.com. About Adwerx Adwerx provides Brilliantly Simple Digital Advertising™ for real estate, mortgage, insurance, financial services, and other businesses. Ads powered by Adwerx have received billions of impressions on social media, mobile platforms, and the most widely read news sites. Adwerx has served 200,000 customers across the U.S., Canada, and Australia and has been named to the Inc. 5000 list of America's Fastest Growing Private Companies for three years in a row. To see how Adwerx can work for you, please visit www.adwerx.com. Plus, NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®' REALTOR Benefits® Program.
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NAR Partners with Missouri's Columbia College to Expand Educational Opportunities for Realtors
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CRS Data Expands Reach with Seven New MLS Customers
Progressive MLS Tax Suite offers data transparency, zero upselling KNOXVILLE, Tenn. -- CRS Data, a leading provider of property tax data in the U.S., has welcomed seven new customers to its flagship MLS Tax Suite. With more than 30 years spent perfecting its celebrated property tax data system, the company has further solidified an unwavering commitment to personable customer service and excellent tax data, maps and intuitive features. Serving more than 1,000 counties across all regions of the U.S., CRS Data's MLS Tax Suite integrates seamlessly with any MLS system, offering accessibility across mobile devices. "I most often hear our customers rave about our dedication to product upgrades and customer service," said Matt Casey, CEO of CRS Data. "Our team has earned our reputation as the leading property data company by integrating the newest technologies, innovating across the property technology space and partnering with best-in-class vendors. Our MLS Tax Suite continues to deliver exactly what each of our partners need, zero upselling required." In less than six months, the company added seven new customers, including: Lake Country Board of REALTORS® Iowa Association of REALTORS® Tallahassee Board of REALTORS® Greater Tyler Association of REALTORS® The Greater Baton Rouge Association of REALTORS® Flagler County Association of REALTORS® Ithaca Board of REALTORS® "We believe in the inherent value of the MLS," said Kari Autry, director of the MLS Tax Suite at CRS Data. "It is so important that our MLS Tax Suite performs seamlessly for members with simplified and inspiring features and tools all backed by personable customer support. We truly listen to our customers and make direct enhancements to our product based on customer feedback." CRS Data is committed to innovating across its platform and delivering video tutorials for members to showcase progress and new features. The company has a long history of offering an unparalleled customer experience, data transparency, and an understanding of the dynamics of each unique market. About CRS Data Headquartered in Knoxville, Tenn., CRS Data is a leading provider of public record information servicing bankers, MLSs, appraisers, investors, and other specialty financial customers across the U.S. CRS Data is focused on providing accurate and timely property data, quality products and unparalleled customer satisfaction. Visit www.crsdata.com to learn more.
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Homeowners are Staying in Their Homes Five Years Longer Than in 2010
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U.S. Housing Inventory Tightens as Competition Heats Up
Interest rates are making it cheaper to buy a home, if you can find one SANTA CLARA, Calif., Oct. 31, 2019 -- The U.S. housing market showed signs of becoming increasingly competitive as inventory continued to tighten with a drop of nearly 98,000 listings, compared to this time last year, according to realtor.com's October 2019 housing trend report* released today. At the same time, the inventory shortage compounded as homes flew off the market at a faster pace than last year, making it harder for would-be buyers to enter the market despite favorable interest rates. "Owning a home continues to be a priority for buyers, as we head into the cooler months of the year. Driven by the tailwind of sub-4 percent mortgage rates, the steady demand for housing is drying market inventory at an accelerating pace," according to realtor.com® Senior Economist George Ratiu. "With dwindling supply, prices maintain their upward pressure, deepening the affordability challenges for first-time buyers." Spurred by low mortgage rates, the uptick in demand this past spring gobbled up available inventory leaving the U.S. market depleted. Nationally, inventory decreased 6.9 percent in October, an acceleration from September's 4.1 percent drop. This decline amounted to a loss of 98,000 listings, compared to a year ago. Additionally, the volume of new listings hitting the market has decreased by 3.4 percent since last year. Entry-level inventory saw the largest declines, with the number of homes priced under $200,000 dropping by 15.2 percent year-over-year. Meanwhile, mid-tier inventory priced between $200,000 and $750,000 dropped by 4.3 percent year-over-year. The inventory of the nation's most expensive homes saw a slight increase as the inventory of homes selling for more than $750,000 increased by 1.3 percent year-over-year. In the nation's 50 largest metros, inventory declined by 5.3 percent year-over-year. The metros which saw the biggest drop in inventory were San Diego-Carlsbad, Calif. (-20.1 percent), Rochester, N.Y. (-20.1 percent), and Phoenix-Mesa-Scottsdale, Ariz. (-20.0 percent). In addition to having less inventory compared to last year, homes also sold more quickly. Nationally, homes sold in 66 days in October, three days faster than last year. Raleigh, N.C. (60 days); Hartford-West Hartford-East Hartford, Conn. (64 days); and Birmingham-Hoover, Ala. (67 days) saw the largest decreases in days on market with properties spending 11, 9 and 9 fewer days on the market than last year, respectively. On the flip-side, properties in Los Angeles-Long Beach, Anaheim, Calif. (55 days); San Jose-Sunnyvale-Santa Clara, Calif. (42 days), and Las Vegas-Henderson-Paradise, Nev. (49 days); sold 14, 11, and 11 days more slowly, respectively. The U.S. median listing price continues to increase due to solid demand, growing by 4.3 percent year-over-year, to $312,000 in October. Of the 50 largest U.S. metros, 43 saw year-over-year gains in median listing prices. Birmingham-Hoover, Ala. (+15.4 percent); Los Angeles-Long Beach-Anaheim, Calif. (+13.9 percent); and Phoenix-Mesa-Scottsdale, Ariz. (+13.0 percent); posted the highest year-over-year median list price growth in October. The steepest declines in median list price were seen in Minneapolis-St. Paul-Bloomington, Minn.-Wis. (-2.9 percent), Louisville/Jefferson County, Ky.-Ind. (-2.9 percent) and Houston-The Woodlands-Sugar Land, Texas (-1.6 percent). *Editor's Note With the release of its October 2019 housing trends report, realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. The new methodology uses the latest and most accurate data mapping of listing statuses to yield a cleaner and more consistent measurement of active listings at both the national and local level. The new methodology also allows realtor.com® to achieve more consistency and stability in measurements across markets and in each market over time. As a result of these changes, the data released today will not be directly comparable with previous releases and realtor.com® economics blog posts. However, future data releases, including historical data, will consistently apply the new methodology. About realtor.com® Realtor.com®, The Home of Home Search, offers the most MLS-listed for-sale listings among national real estate portals, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. Through its Opcity platform, realtor.com® uses data science and machine learning to connect consumers with a real estate professional based on their specific buying and selling needs. Realtor.com® pioneered the world of digital real estate 20 years ago, and today is a trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Second Century Ventures Makes Investment in Home Captain
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John Kuc Promoted to Executive Vice President of MMSI
Severna Park, MD (November 1, 2019) -- MMSI, makers of the Membership Director association management system (AMS), announced today that John Kuc, a 26-year veteran of the real estate industry, has been named Executive Vice President. According to Mark Richburg, President, "John has been an integral part of our strategic direction and this promotion recognizes his many contributions to our growth and future success." MMSI continues to stride confidently toward the future, driven by a team of devoted staff and dedicated customers. Richburg continues, "I'm incredibly pleased with the team we have in place right now – they're firing on all cylinders. These are the best people to take MMSI into the next phase, and John is the right person to lead the development of our next generation systems." Over a 21-year tenure, John's software development, operations, and management skills were honed at PRC, Interealty, and later CoreLogic. Prior to joining MMSI in 2017, he was the Chief Operating Officer of a national non-profit devoted to helping Gold Star families start initiatives to honor their fallen loved ones. MMSI is among the leaders in providing REALTOR® associations and MLS with software to manage their member relationships; the company's innovations in the space have fueled impressive growth of the platform. Investing heavily since buying Membership Director back in 2011, MMSI has won remarkable market share gains year-over-year, and the momentum continues in 2019. In the first 10 months alone, MMSI has on-boarded 11 new customers to Membership Director, upgraded 16 long-term customers, and launched Single Sign-On in three markets! ### MMSI's Membership Director™ has become the new standard in REALTOR® AMS. Our fully responsive and ADA-compliant Member Portal leads the industry, with integrated SSO Dashboard, optional Identity Management, and much more. From empowering members to easily apply online to printing your financial statements, contact us or stop by Booth 754 in San Francisco to learn more about MMSI. Fully Responsive, ADA-Compliant Member Portal – Our new member portal becomes your members' front door to all the services you offer them. From a beautiful, clean dashboard, members can make payments, update contact information, register for courses and events, and see only the notifications that are important for them. Calls to action guide members to their next steps in our industry-leading user experience. (SSO) Single Sign-On and Identity Management – Designed to tightly integrate with Membership Director™, our complete SSO/IdP service and Identity Management feature provides best-in-class SSO/IdP service to your members' and allow them a safe and secure single sign-on service. Offering the most up-to-date features of a global SSO/IdP technology provider, our Identity Management provides control and visibility into users' behavior via simple and straight forward access rules. Instantly provision new members with no 3rd party synchronization necessary. www.GoMMSI.com. Don't Compromise, Customize.
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Florida Realtors Tech Helpline Now Available to Support Tech Firms
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MooveGuru Closes Series A Led by Atlanta Technology Angels
Atlanta, October 29th, 2019 -- Roughly 35 million Americans move each year and MooveGuru is making it easier and more affordable than ever before. The Roswell, GA based company was able to self-fund the development of their platform and stress test the solution with key real estate brokerage and franchise partnerships. After refining the solution with their first 450,000 movers, the firm secured lead funding from the Atlanta Technology Angels to fuel growth and additional development. MooveGuru has a developed a moving concierge solution that is provided to real estate brokerage firms who wish to deliver moving services to their clients. The services range from something simple like a change of utilities to a full hands-free move. David Moody, CEO of ERA Sunrise, said, "MooveGuru provides us a complete system to efficiently assist our clients in moving out of, or into their home. The service is aimed at reducing the stress during a move and delivering additional homeowner services." ERA Sunrise will be providing the MooveGuru service to more than 1200 clients in the Atlanta, Athens, and Augusta regions of Georgia. The Atlanta Technology Angels set the valuation and led the Series A round for MooveGuru, which had a total round size of $1.9 million including converted debt. "The most attractive contribution from the Atlanta Technology Angels is the executive level support and coaching that they provide to our company," says Scott Oakley, CEO of MooveGuru, "and the capital will enable us to expand our workforce in the region to support our sales growth." "ATA members are excited by the potential of MooveGuru to grow at a rapid pace and believe in the ability of management to achieve that growth," says Joe Beverly, President of the Atlanta Technology Angels, and President of Corporate Payroll Services. The Atlanta Technology Angels (ATA) and Gwinnett Angels (GA) are member-led organizations of angel investors that recognize the power in working together and uniting the Southeast early-stage investment ecosystem. About MooveGuru In 2016, MooveGuru Inc. launched a free mover engagement program to real estate agents and brokers with the idea of connecting home buyers and sellers to convenience and savings on moving services. Using just-in-time delivery through artificial intelligence algorithms, MooveGuru Inc. ensures consumers receive agent-branded savings from national and local retailers as they step through the relocation process. Today, more than 300 brokerages, their agents, and clients are connected to the MooveGuru platform.
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Goodbye, Endless Scrolling! Announcing Realtor.com's Photo First Feature
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Redfin Survey: Homebuyers and Sellers Say Rising Home Prices Have Made Their Lives Worse, and They Support Policies to Make Homes More Affordable
SEATTLE, Oct. 22, 2019 -- Homebuyers and sellers are nearly twice as likely to support policies designed to keep homes affordable as they are to support policies designed to strengthen home values, according to a new report from Redfin, the technology-powered real estate brokerage. The report's findings are based on a June Redfin-commissioned survey of more than 3,000 U.S. residents who bought or sold a primary residence in the last year, or plan to in the next 12 months. As cities across the country grapple with an ongoing housing affordability crisis, solutions in the form of policy proposals have become a topic of local and national debate, with presidential candidates and community and business leaders on both sides of the political aisle weighing in. In general, homebuyers and sellers support policies that help would-be homebuyers struggling to afford a home over policies that benefit existing homeowners or investors and home-flippers. Respondents are nearly twice as likely to support policies designed to keep homes affordable as they were to support policies designed to strengthen home values. Nearly half of respondents said rising home prices over the past decade have made their life worse, while just 16% said rising home prices made their life better. 63% of respondents believe the government should provide down payment assistance to working-class families buying their first home. Respondents were more likely to support policies designed to limit investors' ability to buy homes to flip or rent out. Buyers and sellers value home affordability When asked about policies meant to lift up home values or keep homes affordable, 34 percent of respondents said they support policies designed to keep homes affordable, compared with 19 percent who prefer policies meant to strengthen home values. Thirty-seven percent said they support both types of policies, reflecting the moral dilemma this topic can present to homeowners who are financially motivated to grow their often biggest asset, but also care about the continued affordability and livability of the community in which they have invested. Rising home prices negatively affecting homebuyers and sellers Redfin asked respondents how each of a handful of changes to the economy over the last decade have affected their life. Nearly half (46 percent) said rising home prices made their life worse, compared to just 16 percent who said that rising home prices made their life better. Homeowners who bought at the bottom of the market in 2012 have collectively earned $203 billion in home equity. However, first-time homebuyers struggle to afford homes at current-day prices. Down payment assistance has broad support When asked whether the government should or should not provide down payment assistance to working-class families buying their first home, the majority of respondents (63 percent) said they believe the government should provide down payment assistance. Seventy-six percent of African Americans respondents said that the government should provide down payment assistance, which was the highest percentage of any racial group. Presidential candidates Elizabeth Warren and Kamala Harris have policies that increase government aid going to down payment assistance for first-time homebuyers in historically red-lined neighborhoods to boost African American homeownership. Redlined neighborhoods were minority neighborhoods that were historically denied mortgage loans. Some buyers and sellers want to put limits on investors Redfin asked respondents whether they would support policies that limit investors' ability to buy homes to flip or rent out or if they would support policies that make it easier for investors to buy homes to flip or rent out. Respondents preferred policies that limit investors. Thirty-three percent of respondents said they support policies that limit investors' ability to buy homes to flip or rent out compared to only 25 percent of respondents who said they support policies designed to make it easier for investors to buy homes to flip or rent out. To read the full report, including graphs and survey methodology, please visit: https://www.redfin.com/blog/Support-For-Keeping-Homes-Affordable. About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales. For more information or to contact a local Redfin real estate agent, visit www.redfin.com.
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Trick or Treat: Nearly 60 Percent of People Who Have Lived in a Haunted House Said They Found Out after Moving In
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CRMLS Launches MLS-Touch Realist Integration to 98,000+ Users
CHINO HILLS, Calif., Oct. 21, 2019 -- California Regional MLS and Prospects Software recently announced a new set of major enhancements that are now available in the MLS-Touch mobile app, a member benefit to CRMLS users. Enhancements include Matrix listing edit capabilities and access to Realist property and tax data from CoreLogic. With MLS-Touch, CRMLS users can now edit Price, Public Remarks, and Private Remarks for their listings on the go. They can also access important public records data associated with listings, such as ownership and occupancy, assessed land and building values, and property tax. This rollout follows a number of other MLS-Touch enhancements released in recent months to CRMLS users, including synchronization of contacts and favorites between MLS-Touch and Matrix platform and Client Portal. Carts and saved searches now synchronize between MLS-Touch and Matrix as well. These integrations create a seamless ecosystem between desktop and mobile MLS, keeping real estate professionals connected to their listing, tax, and client data from wherever they are, and making it easy and efficient to collaborate with clients during the home buying process. "MLS-Touch is popular with our users. I know they're going to appreciate these useful updates. The app provides a true mobile extension to all the critical data that they rely on. Adding tax and assessment data to the mobile experience will help our users look like the real estate experts they are, wherever they are," said CRMLS CEO Art Carter. "Since we launched the client data integrations earlier this year, we've had tremendous positive feedback from our MLS-Touch users," said Prospects CEO Charles Drouin. "We're very excited to have the newest features now available in CRMLS, bringing further benefits and efficiencies to real estate professionals." About California Regional Multiple Listing Service (CRMLS) California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing 98,000 real estate professionals from 34 Associations, 3 Boards of REALTORS® and 1 MLS. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS visit www.crmls.org. About Prospects Software Prospects Software provides two of the most critical tools that real estate professionals rely on every day beyond their primary MLS - mobile MLS and CRM. MLS-Touch, also known as Prospects Mobile in Canada, keeps agents connected to listings, leads and contacts from anywhere, on any device. Prospects CRM gives agents a powerful tool to organize contacts and manage customer relationships. Prospects apps are intelligent, easy-to-use, and fully integrated with each other and with the CoreLogic Matrix multiple listing platform. For more information, visit www.prospects.com.
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Existing-Home Sales Decrease 2.2% in September
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Showing Index Reflects Surprising Strength in Buyer Demand with Back-to-Back Months of Increased Nationwide Activity
Back-to-Back Months of Growth Within All Regions a First Since December 2017 - January 2018 October 22, 2019 -- Home showing activity was up again nationwide in September with a 4.6 percent rise in traffic, as the traditionally slow fall season began with a marked boost in buyer interest, according to the latest ShowingTime Showing Index report. The West Region, which until August had experienced 18 consecutive months of flagging home buyer traffic, lead the four regions in year-over-year improvement with an 8.9 percent increase in buyer activity. The South followed with a 6.4 percent increase, the largest such improvement in the region since April 2018, with the Northeast Region's 5.6 percent increase the next largest among the four regions. The Midwest's more modest 0.8 percent year-over-year growth rounded out the nation's promising month. "September's activity continued where August's left off as the beginning of the fall season has gotten off to a slightly busier start compared to last year," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Although the year-over-year boost for September seems high in the South Region, this can be largely attributed to tropical storm Florence's presence in the area in September of last year. The Northeast and West regions continue to show higher levels of activity compared to last year, even in the face of the expected seasonal slowdown." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies. ShowingTime products are used in more than 250 MLSs representing over 950,000 real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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Realtor.com and Veterans United Home Loans Launch New Home for the Holidays $100K Veteran Homebuyer Giveaway
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FBS Introduces Spring All-in-One Websites for Agents, Powered by the Revolutionary Spark API
FARGO, N.D., Oct. 21, 2019 -- FBS announces the launch of the latest product in the Spring® lineup: all-in-one websites for agents. For 40+ years, FBS has provided innovative technology and services to the Multiple Listing Service (MLS) and its members, including the late 2018 acquisition of Solid Earth's Spring software platform. In the last year, FBS successfully launched Spring MLS Portals to the MLS market. Today, agent websites are added to the Spring suite of products. Spring IDX websites for agents were created with the busy, budget-conscious agent in mind. Director of FBS Broker and Agent Services, Michelle Carter explains, "The new Spring websites deliver on all of the essential agent website needs: powerful IDX home search with live data, a modern look, ease of use, affordability, lead capture, and agent branding options. Set-up and customization are easy enough that the least tech-savvy agent can succeed." With hosting, site security, and custom domain name management included, agents can consolidate multiple vendors into one single solution at an affordable price. Powered by the Spark® API, Spring IDX websites show live listing data so home buyers receive the freshest most comprehensive data available. Spring websites are available exclusively to Flexmls subscribers along with a number of other easy-to-use and affordable IDX solutions. Spring websites for brokers, complete with lead management, is set to release in 2020. For more information visit https://fbsproducts.com/products/idx-solutions/. About FBS Recognized by Forbes as a 2019 Small Giant and based in Fargo, North Dakota, FBS is a 100% employee-owned company providing industry-leading software and technology to real estate with Flexmls®, Spark®, FloPlan™ and Spring®. The leading MLS technology innovator and one of the largest software providers, FBS serves 240,000+ real estate professionals on its Flexmls® Platform. First to market, its Spark® API set the standard for industry API innovation. Spark showcases the value of data standards powering Flexmls Mobile, Spring and many other third-party real estate software products. FBS products are underpinned by 40+ years of experience and one of the highest customer service performance ratings in any industry, an NPS® of 84. Learn more at www.WeAreFBS.com.
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Migration Trends Reach Record High as 26% of Home Searchers Look to Change Metros
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Q3 2019 Foreclosure Activity Down 19 Percent from Year Ago to Lowest Level Since Q2 2005
Average Time to Foreclose Increases 18 Percent From Last Year; Foreclosure Starts Down From Year Ago But Up in 30 Percent of Local Markets IRVINE, Calif. - Oct. 17, 2019 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q3 2019 U.S. Foreclosure Market Report, which shows there were a total of 143,105 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the third quarter, down 6 percent from the previous quarter and down 19 percent from a year ago to the lowest level since Q2 2005 — a more than 13-year low. U.S. foreclosure activity in Q3 2019 was 49 percent below the pre-recession average of 278,912 properties with foreclosure filings per quarter between Q1 2006 and Q3 2007 — the 12th consecutive quarter where U.S. foreclosure activity has registered below the pre-recession average. "Foreclosure activity continues to decline across the country, which is a good sign that the housing market and the broader economy remain strong – and that the lending excesses that helped bring down the economy during the Great Recession remain a memory," said Todd Teta, chief product officer at ATTOM Data Solutions. "This is not to say that everything in the latest foreclosure picture is rosy. Some states have seen their foreclosure rates increase this year, which could cause some concern. But overall, the foreclosure numbers reflect a market in which buyers can afford their homes and lenders remain careful in loaning to home buyers who have little chance of repaying." Foreclosure starts down nationwide, up in 30 percent of local markets Lenders started the foreclosure process on 78,394 U.S. properties in Q3 2019, down 8 percent from the previous quarter and down 15 percent from a year ago — the 17th consecutive quarter with a year-over-year decrease in foreclosure starts. Counter to the national trend, 14 states posted year-over-year increases in foreclosure starts in Q3 2019, including Montana (up 33 percent); Georgia (up 32 percent); Washington (up 16 percent); Louisiana (up 15 percent); and Michigan (up 12 percent). Also counter to the national trend, 66 of 220 metropolitan statistical areas analyzed in the report (30 percent) posted a year-over-year increase in foreclosure starts in Q3 2019. Those markets with at least 1 million people that posted year-over-year increases included, Atlanta, Georgia (up 37 percent); Columbus, Ohio (up 27 percent); San Antonio, Texas (up 24 percent); Portland, Oregon (up 22 percent); and Tucson, Arizona (up 21 percent). Highest foreclosure rates in Delaware, New Jersey, Maryland Nationwide one in every 946 properties had a foreclosure filing in Q3 2019. States with the highest foreclosure rates in Q3 2019 were Delaware (one in every 415 housing units with a foreclosure filing); New Jersey (one in every 436); Maryland (one in every 500); Illinois (one in every 517); and Florida (one in every 577). Among 220 metropolitan statistical areas analyzed in the report, those with the highest foreclosure rates in Q3 2019 were Atlantic City, New Jersey (one in every 269 housing units with a foreclosure filing); Trenton, New Jersey (one in every 312); Rockford, Illinois (one in every 366); Fayetteville, North Carolina (one in every 369); and Peoria, Illinois (one in every 388). Bank repossessions see slight uptick from previous quarter Lenders repossessed 34,432 U.S. properties through foreclosure (REO) in Q3 2019, up 6 percent from the previous quarter but down 33 percent from a year ago. Counter to the national trend, 16 states posted quarter-over-quarter decreases in REO activity in Q3 2019, including Maryland (down 37 percent); Tennessee (down 19 percent); Delaware (down 16 percent); New Jersey (down 13 percent); and Arizona (down 11 percent). Average time to foreclose sees an uptick Properties foreclosed in Q3 2019 had been in the foreclosure process an average of 841 days, up from 716 days in the previous quarter and up from 713 days in Q3 2018 to the highest level since Q4 2017. States with the longest average foreclosure timelines for homes foreclosed in Q3 2018 were Indiana (1,633 days); Hawaii (1,626 days); Nevada (1,511 days); New Jersey (1,173 days); and Georgia (1,170 days). States with the shortest average foreclosure timelines for homes foreclosed in Q3 2018 were Virginia (201 days); Montana (217 days); Mississippi (229 days); Alaska (258 days); and Oregon (283 days). U.S. Foreclosure Market Data by State – Q3 2019 September 2019 Foreclosure Activity High-Level Takeaways Nationwide in September 2019 one in every 2,767 properties had a foreclosure filing States with the highest foreclosure rates in September 2019 were Delaware (one in every 1,170 housing units with a foreclosure filing); Maryland (one in every 1,270 housing units); Illinois (one in every 1,409 housing units); New Jersey (one in every 1,534 housing units); and Connecticut (one in every 1,997 housing units). 24,453 U.S. properties started the foreclosure process in September 2019, down 12 percent from the previous month and down 15 percent from a year ago. September 2019 marked the 8th consecutive month with a year-over-year decrease in foreclosure starts. Lenders completed the foreclosure process on 11,869 U.S. properties in September 2019, up 3 percent from the previous month and up 10 percent from a year ago. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, real estate market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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CoreLogic Releases Most Recent HPI Forecast Validation Report
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Kleard and Adwerx announce integration, bringing next-level automation to real estate agents
Seattle, WA – Kleard and Adwerx announce a new integration, giving real estate agents an automated way to stay top-of-mind with unrepresented buyers they meet at Kleard open houses. "Kleard, a 2019 NAR REach Company, is excited to partner with a 2017 REACH company and current NAR REALTOR Benefits® Program provider, Adwerx. Hosting open houses with Kleard allows agents to become much more productive and efficient, and the integration with Adwerx will give them further opportunity to grow their business," says Jonathan Martis, CEO of Kleard. If an agent hosting a Kleard open house has the Adwerx integration enabled, any unrepresented buyer who signs in on the Kleard app will get automatically added to the agent's sphere of influence campaign. As the buyer searches premium websites and social media platforms, the agent ads will display, allowing the agent to reach consumers in a personal way where it matters the most. "We've always focused on finding new and innovative ways to provide brilliantly simple digital advertising to small and mid-sized businesses so they can continue to grow and thrive through local branding. This integration with Kleard is yet another step to making marketing solutions that are usually only available to large companies more widely accessible," said Jed Carlson, CEO of Adwerx. To learn more about how Kleard and Adwerx can help you or your agents, please visit www.kleard.com. About Kleard Kleard is a top-rated software for real estate agents, teams and brokerages, allowing for verification of new as well as keeping track of existing leads. The app, both web and mobile, is used by thousands of agents throughout the U.S. and Canada, along in MLSs and REALTOR® associations that have partnerships with Kleard. About Adwerx Adwerx provides Brilliantly Simple Digital Advertising™ for real estate, mortgage, insurance, financial services, and other businesses. Ads powered by Adwerx have received billions of impressions on social media, mobile platforms, and the most widely read news sites. Adwerx has served over 200,000 customers across the U.S., Canada, and Australia and has been named to the Inc. 5000 list of America's Fastest Growing Private Companies for three consecutive years, as well as received Inc.'s Best Workplaces award. To see how Adwerx can work for you, please visit www.adwerx.com. Plus, NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®' REALTOR Benefits® Program.
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Austin Board of REALTORS adopts Remine for its 15,000 MLS subscribers
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Laurie Weston Davis Joins RateMyAgent
Australian-based reviews startup commits to U.S. market with the hire of a celebrated industry insider SAN DIEGO, Oct. 14, 2019 -- RateMyAgent, an agent review and marketing platform for real estate professionals to generate, aggregate, and syndicate client reviews, today announced that Laurie Weston Davis has joined the company as vice president of industry relations. This hire shows a deep commitment to the U.S. market to understand and align with the needs of today's real estate agent in a changing digital landscape. "There are few people in this industry who have participated in nearly every aspect of real estate as Laurie has done," said Mark Armstrong, co-founder and chief executive officer of RateMyAgent. "She has served as an agent, broker, local REALTOR® Association president, GeekyGirl, vendor board member and investor, and Inman influencer. She's able to share this breadth of knowledge as we build an agent-centric, comprehensive reviews platform." Laurie got her start in real estate over thirteen years ago while working with a small independent brokerage. She transitioned her business to a large franchise brokerage where she launched The Geeky Girls, given her aptitude for understanding and teaching emerging real estate technologies. Since then, she's become a sought after speaker, and highly regarded industry influencer. In addition to her role with RateMyAgent, Laurie serves as the CEO/Broker/Owner of Better Homes and Gardens Real Estate Lifestyle Property Partners in Pinehurst, North Carolina. "I know how important reviews are to my business," said Laurie Weston Davis. "When I learned more about the mission of RateMyAgent, I knew it was a partnership I wanted to be part of. Not to mention, the Australian leadership has a heart of gold. They are an absolute delight to build with." Savvy agents understand the power of third-party validation and social proof. Therefore, client reviews are a critical component of any digital strategy. From ranking in search to establishing professional credibility, RateMyAgent simplifies the process and maximizes reach across all digital platforms such as social media, ad networks, and websites. Agents can focus their effort on delivering incredible consumer experiences and allow the automated platform to ensure transparency for future clients. RateMyAgent is endorsed by the 2019 REACH program by the National Association of Realtors®. About RateMyAgent RateMyAgent is an Australia-based review platform now expanding rapidly in the United States. In Australia, RateMyAgent is used by agents who sell 80% of property across Australia and get reviews for 1 in 3 homes sold nationally. RateMyAgent launched in the United States in 2018 and has partnerships with MLS's from Florida to California, including CRMLS, the country's largest MLS. They are the first review platform to be included in NAR's REACH Accelerator Program. RateMyAgent is listed on the Australian stock exchange. More information about RateMyAgent can be found at www.ratemyagent.com.
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I Owe U: Student Debt Total Reaches $1.5 Trillion, Nearly Doubles U.S. Housing Market
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Locations Close to Public Transit Boost Residential, Commercial Real Estate Values
New Joint APTA and NAR Study Examines the Relationship between Real Estate Value and Public Transportation in Seven U.S. Metropolitan Regions WASHINGTON (October 14, 2019) -- Neighborhoods located within a half-mile of public transit services outperformed those in areas farther from public transit based on a number of factors, according to a report released today by the American Public Transportation Association and the National Association of Realtors®. "The Real Estate Mantra – Locate Near Public Transportation" highlighted the critical role public transportation plays in determining real estate values, revealing that commercial and residential real estate market sales thrive when residents have mobility options close by. The report explored seven metropolitan regions – Boston; Hartford; Los Angeles; Minneapolis-St. Paul; Phoenix; Seattle; and Eugene, OR – that provide access to heavy rail, light rail, commuter rail and bus rapid transit. Residential properties within these areas had 4-24% higher median sale prices between 2012 and 2016, the report found. Commercial property near public transit also witnessed value gains in the studied cities, where four of the regions saw median sales prices per square foot increase between 5-42%. Transportation costs in transit-oriented areas are significantly lower than in other regions, with an average annual savings of $2,500 to $4,400 for the typical household. One in four households in close proximity to transit does not own a vehicle, according to the study. The seven sample areas were examined by residential and commercial sales performance, rent, neighborhood characteristics, local government interventions and housing affordability. "Public transit's benefits go beyond moving people from point A to point B," said APTA President and CEO Paul P. Skoutelas. "Public transportation is a valuable investment in our communities, our businesses, and our country. Public transportation gets people to jobs and educational opportunities and helps businesses attract employees and customers." "Access to public transportation is an extremely valuable community amenity that increases the functionality and attractiveness of neighborhoods, making nearby communities more desirable places to live, work and raise a family," said NAR 2019 First Vice President Charlie Oppler, who spoke at Monday's press conference along with 2019 New York State Association of Realtors® President Moses Seuram. "The results of our report, conducted over multiple years alongside the American Public Transportation Association, should reiterate to policymakers at all levels of government the importance of investing in modern, efficient infrastructure that facilitates growth and helps our nation keep pace in a rapidly evolving world." Neighborhoods with high-frequency public transportation are in high demand. While property values and rents have risen, contributing to healthy local economies, the rapidly increasing demand for housing near public transit has resulted in constrained housing supplies. "As the conversation surrounding housing affordability continues, public transportation agencies are critical allies in working with elected officials and community leaders in the effort to increase housing opportunities and maximize value around stations," said Skoutelas. To read the full study, visit: NAR.realtor/transportation-and-infrastructure.
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How to Get More Leads from Homes.com
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Redfin and LinkedIn Reveal the 5 Best Emerging Tech Hubs for Software Engineers to Buy a Home
Charlotte and Buffalo boast 4% job growth for engineers, who need to spend less than 20% of their income on housingSEATTLE, Oct. 10, 2019 --  Charlotte, North Carolina and Buffalo, New York are among the best metro areas for software engineers to buy a home, according to a new analysis from Redfin, the technology-powered real estate brokerage, and LinkedIn, the employment-oriented social media platform. Both metros saw 4.1 percent year-over-year job growth in June for people in the field, and the typical software engineer would only need to spend 18.9 percent and 13.3 percent of their annual income, respectively, on housing. In comparison, the typical software engineer in San Francisco would need to spend 42.8 percent of their annual salary to afford a median-priced home. The two metros are more affordable options than tech hubs like San Francisco and Silicon Valley, where despite generous salaries and job growth of roughly 3.5 percent year-over-year, sky-high housing costs make homeownership difficult for typical software engineers. The typical home in the San Francisco metro sold for more than $1.4 million in July, out of reach for someone earning $186,300, the median income for a software engineer in the Bay Area. "Because homeownership in expensive places like San Francisco is no longer a realistic consideration even for many people in high-paying fields, smaller inland cities are becoming increasingly attractive to young, educated people looking to build a career and live comfortably," said Redfin chief economist Daryl Fairweather. "Grand Rapids and Columbus don't offer as many job opportunities or salaries as high as you'd find in San Francisco, but because housing and other costs are so much lower, skilled professionals can achieve a higher quality of life. Tech companies are following the talent by opening offices or offering the option for employees to work remotely—which is contributing to growth in job opportunities for people seeking affordable housing." Redfin worked with LinkedIn to curate a list of places with emerging tech scenes. LinkedIn provided data on job growth and median total compensation. To determine whether a metro is affordable on a typical software engineer's income for that area, Redfin used the rule that housing is affordable when it costs less than 30 percent of gross income. Based on those parameters, software engineers may want to consider a move to Charlotte, North Carolina or Buffalo, New York rather than Silicon Valley. Some other places to consider are Grand Rapids, Michigan, Colorado Springs and Columbus, Ohio, areas with 3-percent-plus job growth where the typical software engineer would need to spend 20 percent or less of their income on housing. Seattle, where home prices have more than doubled over the last seven years partly due to its growth as a tech hub, is still relatively affordable for people in the field. The typical Seattle software engineer would need to spend 20 percent of their earnings to buy a home in the metro, comparable to the share in Colorado Springs. To read the full report, including Redfin agent insights on what makes each metro an attractive place for software engineers to live and a list of LinkedIn job openings in each area, please visit: https://www.redfin.com/blog/most-affordable-places-for-software-engineers. About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales.
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Rising Financial Wealth Boosts Demand for Vacation Homes
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CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a July in at Least 20 Years, but Four States Post Annual Gains
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally, 3.8% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in July 2019, representing a 0.3 percentage point decline in the overall delinquency rate compared with July 2018, when it was 4.1%. As of July 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from July 2018. The July 2019 foreclosure inventory rate tied the prior eight months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 1.8% in July 2019, down from 1.9% in July 2018. The share of mortgages 60 to 89 days past due in July 2019 was 0.6%, unchanged from July 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in July 2019, down from 1.6% in July 2018. This July's serious delinquency rate of 1.3% was the lowest for the month of July since 2005 when it was also 1.3%; it tied the April, May and June 2019 rates as the lowest for any month since it was also 1.3% in August 2005. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 0.8% in July 2019, unchanged from July 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2%, while it peaked at 2% in November 2008. "Homeowners have seen a big rise in home equity, which lowers foreclosure risk because owners have more ‘skin in the game,'" said Dr. Frank Nothaft, chief economist at CoreLogic. "Our latest Home Equity report found that between the first quarter of 2011 and the second quarter of 2019, average equity per borrower increased from $75,000 to $176,000 and rose $5,000 in the past year alone." The nation's overall delinquency remains near the lowest level since at least 1999. However, four states posted small annual increases in overall delinquency rates in July: Vermont (0.5 percentage points), New Hampshire (0.2 percentage points), Iowa (0.1 percentage points) and Minnesota (0.1 percentage points). Five states, including three of the four listed above, posted small annual gains in the share of mortgages that transitioned from current-to-30-days past due in July: Vermont (0.3 percentage points), New Hampshire (0.1 percentage points), Iowa (0.1 percentage points), Wisconsin (0.1 percentage points) and Florida (0.1 percentage points). In July 2019, 37 metropolitan areas recorded small increases in overall delinquency rates. Some of the highest gains were in the Midwest and Southeast. Metros with the largest increases were Dubuque, Iowa (2.5 percentage points), Davenport-Moline-Rock Island, Iowa-Illinois (1.5 percentage points) and Pine Bluff, Arkansas (1.1 percentage points). Panama City, Florida, and Goldsboro, North Carolina, both experienced increases of 0.5 percentage points. "The fundamentals of the housing market remain very solid with foreclosure rates hitting lows not seen in over 20 years," said Frank Martell, president and CEO of CoreLogic. "We expect foreclosure rates may very well drift even lower in the months ahead as wage growth and lower mortgage rates provide support for homeownership." The next CoreLogic Loan Performance Insights Report will be released on November 12, 2019, featuring data for August 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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Housing Trends Foreshadow Housing Shortage Ahead
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'Wow' Moments and Relationships: An RPR Story
RPR is excited to present our new video commercial, "Wow Moment: Thank You." It's the story of a REALTOR, who armed with RPR at her side, helps an overwhelmed dad and his daughter find the perfect place to call home. Watch it now... We hope you enjoyed our new video! After all, you helped us create it. Through MyRPR stories, user feedback and real-life case studies, we unearthed really useful insight and realized that RPR "wow" moments occur in all types of situations and result in all types of beneficial outcomes. What exactly is an RPR "wow" moment? It's sending property reports in seconds. It's receiving info on school ratings on the fly. It's seeing a brand new listing pop up on the market and being the first to view it. It's hitting the "call agent" button within the listing. It's a series of steps, both big and small wins, and "a-ha" types of moments that all add up to you making an impactful and lasting impression on your clients. Because being a REALTOR® is about relationships, results, and making people's dreams of homeownership come true. It's Who We R®. If you were inspired by this commercial, please help us get the word out and share it on social media. Also, if you've experienced an RPR "wow" moment yourself, we'd love to hear about it. Please use this link to share the video and your story. To view the original post, visit the RPR blog.
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Altus Group Partners with CREA and its Member Boards and Associations to Expand the MLS Home Price Index Nationally
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People Who Bought Homes in 2012 Have Earned a Total of $203 Billion in Equity
People who bought a home at the bottom of the market have earned a median $141,000 or 261% in home equity since 2012 SEATTLE, Sept. 26, 2019 -- People who purchased homes in 2012 have earned a total of $203 billion in home equity, according to a new report from Redfin, the technology-powered real estate brokerage. Individually, the typical homeowner who bought the year prices reached their lowest point following the Great Recession has earned $141,000, or 261 percent, in home equity. The typical home that sold in 2012 has increased $110,000 in value, from a median sale price of $210,000 in 2012 to an estimated value of $320,000 in September 2019. The typical 2012 homebuyer started off with $54,000 in home equity and has $195,000 today. The report is based on a Redfin analysis of the home equity earned from roughly 1.4 million homes purchased across 138 markets in the U.S. in 2012. "The opportunity to build wealth through home equity when prices hit their low point was available only to a fortunate subset of Americans who had enough cash for a down payment," said Redfin chief economist Daryl Fairweather. "And now many people who weren't able to buy into homeownership during that window of time find themselves on the other side of the housing market coin: Many areas are just plain unaffordable for people who don't have equity built up to trade in for a new home. And those who are waiting in the wings, hoping to buy a home when the next recession hits, probably won't be as lucky as buyers were in 2012. Even if home prices do come down slightly, the housing market won't be impacted nearly as much as it was during the Great Recession and home equity gains won't be nearly as big." The massive 12-figure total equity growth is driven by large, expensive coastal markets—mostly in California—where home values have increased by at least two-thirds and the typical homeowner has earned more than $300,000 in equity since 2012. The metros with the biggest total home equity gains in dollars are Los Angeles ($15 billion), Seattle ($8 billion) and Oakland ($7.9 billion). The list of places with the biggest percent increases in home equity includes many metros near large U.S. military bases, including Tacoma, Washington (1453%) and Virginia Beach (1333%), home to the largest concentration of military personnel outside of the Pentagon. That commonality is partly explained by the fact that a lot of homebuyers in those areas would have been able to take advantage of a loan from the U.S. Department of Veterans Affairs (known as a VA loan) or from the Federal Housing Administration (FHA), which often have small or no down-payment requirements, meaning their home equity started out particularly low in 2012. "Just like many other places around the country, the Hampton Roads area, which includes Virginia Beach, was hit hard during the Great Recession. But because there's such a large military presence in Virginia Beach and its surrounding cities, our housing market will always be one of the most stable in the country," said local Redfin agent Jordan Hammond. "People in the military are able to obtain VA loans, and military buyers are also often able to obtain low interest rates. That turned out to be hugely beneficial for people in the area who bought homes in the wake of the recession." Ellen Campion, a Redfin agent in Tacoma, said the housing market in her area is large enough that the military population is just one of many factors that have contributed to massive home-equity growth. "Buyers were paying too much in 2005 and 2006, and once the recession hit, a lot of those people unfortunately had their homes foreclosed on," Campion said. "So during and after the recession, folks were desperate and had to sell their homes for less than what they paid, and investors and savvy homebuyers snapped them up, often with the help of FHA loans. Now we're in a situation where it's the best of all worlds for sellers who bought homes back around 2012. The Tacoma market is so hot right now that those sellers are often able to earn six figures by selling average homes." Nine of the 10 metros with the biggest median home equity growth in dollars are in California, led by San Francisco ($741,000), San Jose ($669,000) and San Rafael ($604,000). Seattle ($364,000), is the only non-California metro on the list. Compared with the metros with the highest percent equity growth, these areas all started in 2012 with high home prices, and local homebuyers likely made much higher down payment--close to 20 percent. Since then, Coastal California and Seattle have seen enormous growth in home values, which equates to huge dollar gains in equity. To read the report, including the full methodology and list of metro-level home equity data, please visit: https://www.redfin.com/blog/home-equity-gain-after-great-recession About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales.
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Home Improvement Projects Are Worth Cost and Time, Says Realtor Survey
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CoreLogic Reports August Home Prices Increased by 3.6% Year Over Year
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2019, which shows home prices rose both year over year and month over month. Home prices increased nationally by 3.6% from August 2018. On a month-over-month basis, prices increased by 0.4% in August 2019. (July 2019 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results each month.) Home prices continue to increase on an annual basis with the CoreLogic HPI Forecast indicating annual price growth will increase 5.8% by August 2020. On a month-over-month basis, the forecast calls for home prices to increase by 0.3% from August 2019 to September 2019. The CoreLogic HPI Forecast is a projection of home prices calculated using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. "The 3.6% increase in annual home price growth this August marked a big slowdown from a year earlier when the U.S. index was up 5.5%," said Dr. Frank Nothaft, chief economist at CoreLogic. "While the slowdown in appreciation occurred across the country at all price points, it was most pronounced at the lower end of the market. Prices for the lowest-priced homes increased by 5.5%, compared with August 2018, when prices increased by 8.4%. This moderation in home-price growth should be welcome news to entry-level buyers." According to the CoreLogic Market Condition Indicators (MCI), an analysis of housing values in the country's 100 largest metropolitan areas based on housing stock, 37% of metropolitan areas have an overvalued housing market as of August 2019. The MCI analysis categorizes home prices in individual markets as undervalued, at value or overvalued, by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income. As of August 2019, 23% of the top 100 metropolitan areas were undervalued, and 40% were at value. When looking at only the top 50 markets based on housing stock, 40% were overvalued, 16% were undervalued and 44% were at value. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10% above the long-term, sustainable level. An undervalued housing market is one in which home prices are at least 10% below the sustainable level. During the second quarter of 2019, CoreLogic, together with RTi Research of Norwalk, Connecticut, conducted an extensive survey measuring consumer-housing sentiment among millennials. The survey found that approximately 75% of millennial renters indicate they will likely purchase a home in the future. However, despite a desire from the entire millennial cohort to purchase a home, there is a clear difference between older and younger millennials' living situation preferences. Generally, older millennials (30-38) aspire to own a single, stand-alone home in the suburbs that is somewhat secluded. Meanwhile, younger millennials (21-29) lean towards modern apartment rentals in urban settings, with 55% of younger millennials saying they prefer to also live in lively neighborhoods. Still, 79% of younger millennials are confident that they will be homeowners in the future. "The millennial cohort has now entered the housing market in force and is already driving major changes in buying and selling patterns. Almost half of the millennials over 30 years old have bought a house in the last three years. These folks are increasingly looking to move out of urban centers in favor of the suburbs, which offers more privacy and a greener environment," said Frank Martell, president and CEO, CoreLogic. "Perhaps most significantly, almost 80% of all millennials are confident they will become homeowners in the future." The next CoreLogic HPI press release, featuring September 2019 data, will be issued on Tuesday, November 5, 2019 at 8:00 a.m. ET. About the CoreLogic Consumer Housing Sentiment Study In the second quarter of 2019, 877 renters and homeowners were surveyed by CoreLogic together with RTi Research. This study is a quarterly pulse of U.S. housing market dynamics. Each quarter, the research focuses on a different issue related to current housing topics. This first quarterly study concentrated on consumer sentiment within high-priced markets. The survey has a sampling error of +/- 3.1% at the total respondent level with a 95% confidence level. About RTi Research RTi Research is an innovative, global market research and brand strategy consultancy headquartered in Norwalk, CT. Founded in 1979, RTi has been consistently recognized by the American Marketing Association as one of the top 50 U.S. insights companies. The company serves a broad base of leading firms in Financial Services, Consumer Goods, and Pharmaceuticals as well as partnering with leading academic centers of excellence. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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OJO Labs Expands Its Suite of Leading Technology Products with Acquisition of Real Estate Software Platform RealSavvy
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W+R Studios Announces Cloud Agent Suite Will Be Free to Try Until 2020
This special promotion, beginning October 1st includes free access and an extended trial to Cloud CMA (including Homebeat), Cloud Streams, Cloud MLX, and Cloud Attract. Huntington Beach, CA (October 1, 2019) - Privately held software company, W+R Studios, announced today a nationwide campaign to offer their popular Cloud Agent Suite free to all real estate agents through the end of 2019. Beginning October 1st, agents can get up to 3 months of free service on real estate's most popular tools. The Cloud Agent Suite includes Cloud CMA (plus Homebeat), Cloud Streams, Cloud MLX, and Cloud Attract. Cloud CMA helps agents generate awesome reports designed to win more listings. Homebeat allows agents to automate their Cloud CMA reports to stay top of mind with past clients and homeowners. Cloud Streams is a listing alert tool built to send alerts faster than any portal. Award-winning Cloud MLX is a modern MLS front-end that allows agents to search the MLS similar to how you search Google. And last but not least, Cloud Attract creates lead generating landing pages in seconds that agents can share with their sphere of influence to generate leads. "We've had an incredible year," stated W+R Studios' co-founder Greg Robertson. "And we wanted to finish it off with something big, so we thought why not let everyone try ALL our products free" continued Mr. Robertson. "Many of our customers already get access to Cloud CMA as part of their MLS membership, but we wanted to make it easy for them to try all other products - including Homebeat - and see how well they all work together as part of the full Cloud Agent Suite." Homebeat—the newest add on for Cloud CMA—launched in August 2019 and is already a hit. Agents love the ease of use for setting up clients on automated online CMAs. Homebeat CMAs update in real time and leverage an agent's best asset: MLS data. "Automated CMAs has been a requested feature of Cloud CMA for many years and we were very excited to be able to build Homebeat this year and fill the need that agents have of staying top of mind after a transaction has closed." concluded Mr. Robertson. To find out more, visit cloudagentsuite.com. Product availability depends on MLS participation. The cost of the Cloud Agent Suite will be $99 per month (or $89/mo with an annual commitment) after the free trial promotion ends. There are no contracts and agents can cancel or change their level of service at any time. About W+R Studios‍ Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 26 years of experience each developing and marketing real estate software solutions.
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CREXi Commercial Listings Go Live on RPR
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Median-Priced Homes Remain Unaffordable for Average Wage Earners in 74 Percent of U.S. Housing Markets
Rising Home Prices Outpacing Wages in 76 percent of U.S. Housing Markets; Home Prices Less Affordable Than Historic Average in 61 Percent of Local Markets IRVINE, Calif. - Sept. 26, 2019 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q3 2019 U.S. Home Affordability Report, which shows that median home prices in the third quarter of 2019 were not affordable for average wage earners in 371 of 498 U.S. counties analyzed in the report (74 percent). The largest populated counties where a median-priced home in the third quarter of 2019 was not affordable for average wage earners included Los Angeles County, CA; Cook County (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA and Orange County, CA. Those same counties were in the top five in Q2 2019. The 127 counties (26 percent of the 498 counties analyzed in the report) where a median-priced home in the third quarter of 2019 was still affordable for average wage earners included Harris County (Houston), TX; Wayne County (Detroit), MI; Philadelphia County, PA; Cuyahoga County (Cleveland), OH; and Allegheny County (Pittsburgh), PA. The report determined affordability for average wage earners by calculating the amount of income needed to make monthly house payments — including mortgage, property taxes and insurance — on a median-priced home, assuming a 3 percent down payment and a 28 percent maximum "front-end" debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). "Buying a home continues to be a rough road to navigate for the average wage earner in the United States. Prices are going up substantially faster than earnings in 2019 without any immediate end in sight, which continues to make home ownership difficult or impossible for a majority of single-income households and even for many families with two incomes," said Todd Teta, chief product officer with ATTOM Data Solutions. "If there is any silver lining to the picture, it's that mortgage rates have fallen back to historic lows. That's softening the blow of rising prices and actually making home ownership a bit more attainable in most areas of the country." Home price appreciation outpacing wage growth in 76 percent of markets Home price appreciation outpaced average weekly wage growth in 379 of the 498 counties analyzed in the report (76 percent), including Westchester County (New York), NY; Los Angeles County, CA; Suffolk County (Boston), MA; Arlington County (Washington), VA; and Monterey County (Salinas), CA. Average annualized wage growth outpaced home price appreciation in 119 of the 498 counties analyzed in the report (24 percent), including San Diego County, CA; Orange County (Los Angeles), CA; Miami-Dade County, FL; Kings County (Brooklyn), NY and Queens County, NY. 67 percent of markets require at least 30 percent of wages to buy a home Among the 498 counties analyzed in the report, 335 (67 percent) require at least 30 percent of their annualized weekly wages to buy a home in the third quarter of 2019. Those counties that required the greatest percent included Kings County (Brooklyn), NY (110.4 percent of annualized weekly wages needed to buy a home); Santa Cruz County, CA (105 percent); Marin County (San Francisco), CA (102.4 percent); Maui County, HI (87.9 percent); and Monterey County, CA (87.5 percent). A total of 163 of the 498 counties analyzed in the report (33 percent) required less than 30 percent of their annualized weekly wages to buy a home in the third quarter of 2019. Those counties that required the smallest percent included Calhoun County (Battle Creek), MI (14.4 percent of annualized weekly wages needed to buy a home); Wayne County (Detroit), MI (14.9 percent); Clayton County (Atlanta), GA (15.2 percent); Rock Island County (Davenport), IL (15.5 percent); and Montgomery County, AL (16.2 percent). 61 percent of markets less affordable than historic averages Among the 498 counties analyzed in the report, 304 (61 percent) were less affordable than their historic affordability averages in the third quarter of 2019, down from 70 percent of counties in the previous quarter and 73 percent of counties in the third quarter of 2018. Counties with a population greater than 1 million and that were less affordable than their historic affordability averages (indexes of less than 100 are considered less affordable compared to their historic averages) included Los Angeles County, CA (index of 96); Harris County (Houston), TX (89); Maricopa County (Phoenix), AZ (93); Orange County, CA (99); and Miami-Dade County, FL (98). Counties with the lowest affordability index were Delaware County (Philadelphia), PA (index of 58); Lackawanna County (Scranton), PA (68); Genesee County (Flint), MI (69); Delaware County (Muncie), IN (69); and Saginaw County, MI (72). 39 percent of markets more affordable than historic averages Among the 498 counties analyzed in the report, 194 (39 percent) were more affordable than their historic affordability averages in the third quarter of 2019, including Cook County (Chicago), IL; San Diego County, CA; Queens County, NY; King County (Seattle), WA; and Santa Clara County (San Jose), CA. Counties with the highest affordability index (indexes of more than 100 are considered more affordable compared to their historic averages) were Onslow County (Jacksonville), NC (130); Clark County (Louisville, KY), IN (128); Atlantic County (Atlantic City), NJ (127); Cumberland County (Vineland), NJ (126); Litchfield County (Torrington), CT (124); and Warren County (Stroudsburg), NJ (124). About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, real estate market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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U.S. Navy Veteran Wins $75,000 Veteran Homebuyer Giveaway
SANTA CLARA, Calif., Sept. 27, 2019 -- Realtor.com and Veterans United Home Loans announced that recently retired U.S. Navy Veteran, Chief Gunner's Mate Rico Baker has won the $75,000 prize (less tax withholding) in the Veterans United Home Loans and realtor.com® Home Giveaway Sweepstakes. Baker, who is returning home to his roots in Oklahoma, is a third generation member of the Navy. His grandfather served in WWI, while his father served during WWII. In his 20 years of service, Baker served in three deployments and seven duty stations around the world, including South America and the Persian Gulf. Baker retired from the Navy in August and now works as an engineer. "Prior homebuyer giveaway sweepstakes have given Veterans United a chance to meet incredible families. Rico and his family were no different. Their zest for life, service to our country and love for each other pours out of all four of them," said Veterans United Chief Marketing Officer Kris Farmer. "We are incredibly proud to partner with realtor.com® for the $75,000 Veteran Homebuyer Giveaway." Baker said, "Never, when I filled out the form for Veterans United would I have known my life would change in an instant, but I dreamed big and I was blessed with the gift of a lifetime. Thank you so much." Baker, along with his wife, Eliza, and their two children, have lived in Illinois, California, and Oklahoma while Baker served in the Navy. They now call Edmond, Okla., their home. "It is incredibly exciting for all of us at realtor.com® to share this moment with Rico and his family as we celebrate the fourth time we've partnered with Veterans United on a home giveaway," said Tricia Smith, realtor.com® senior vice president. "Rico has devoted two decades to the American people through his time in the Navy, serving both domestically and abroad. This is just a small token in the face of all his sacrifices. He represents all who serve and have served, to protect and defend the U.S. Their dedication makes the American Dream possible for all of us." The giveaway was open to qualifying U.S. military service members and U.S. military Veterans, subject to the Official Rules. Entries to the giveaway closed at 11:59 a.m. ET, May 31, 2019, at www.realtor.com/75-anniversary-veterans-giveaway. About realtor.com® Realtor.com®, The Home of Home Search℠, offers the most MLS-listed for-sale listings among national real estate portals, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. Through its Opcity platform, realtor.com® uses data science and machine learning to connect consumers with a real estate professional based on their specific buying and selling needs. Realtor.com® pioneered the world of digital real estate 20 years ago, and today is a trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com. About Veterans United Home Loans Based in Columbia, Missouri, the full-service nationwide lender financed more than $10.5 billion in loans in 2018. Veterans United is the largest VA lender in the country. Its mission is to help Veterans and service members take advantage of the home loan benefits earned by their service. Earlier this year, Veterans United was named No. 23 of the Fortune 100 Best Companies to Work For, according to Great Place to Work® and Fortune Magazine. The company's employee-driven charitable arm, Veterans United Foundation, is committed to enhancing the lives of Veterans and military families nationwide by focusing on supporting military families and nonprofit organizations that strengthen local communities. Veterans United Home Loans and its employees have donated more than $51 million to the Foundation since its founding in November 2011. Learn more at EnhanceLives.com. NMLS ID #1907 (www.nmlsconsumeraccess.org). A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency. Equal Opportunity Lender. Mortgage Research Center, LLC.
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Matterport Announces AI Capabilities that Will Turn Smartphones into 3D Capture Devices
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WebsiteBox Introduces a New Real Estate Website Platform with Three Simple Pricing Plans
WebsiteBox, a technology firm that empowers over 35,000 real estate agents and brokerages, has launched a new version of its do-it-all website platform. The new platform has been created based on input from WebsiteBox clients and partners, with loads of new designs, new IDX integration with over 300 MLS boards, and new CRM functions. Furthermore, WebsiteBox has introduced three new turnkey pricing plans offering a combination of cost-certainty and affordability. TORONTO, Sept. 25, 2019 -- In its continuous effort to help real estate professionals grow their business, WebsiteBox has launched a new and improved version of its website platform. The new platform makes the setup of a new website quick and easy. Real estate agents, teams and offices can go from start to finish in minutes. They can enjoy a more modern and professional look and feel, with over 20 designs to choose from. The new websites are also easier to customize, with over 40 different building blocks to create a truly unique online presence. Another major improvement to the new platform is near real-time MLS data processing. Previously, WebsiteBox processed MLS data every 24 hours, whereas the new platform processes MLS data in almost real time. Furthermore, the new platform easily integrates with Google G Suite - Including integration with Gmail, Google Contacts, Google Calendar, and Google Drive - so that real estate professionals can better communicate and engage with their leads and clients. WebsiteBox has also improved the way they package their services, offering three new turnkey pricing plans: Basic Plan: Perfectly suited for real estate professionals just looking to build and establish their online presence. The Basic Plan includes one professional real estate website pre-populated with SEO friendly content and localized to their specific area of operation. This plan is available for just a $99 set-up fee with no ongoing monthly/annual fees. Standard Plan: Encompasses a series of features designed to help real estate professionals convert their websites to a robust productivity tool capable of automatically managing their listings, leads and clients. This plan offers features such as automatic display of MLS listings (IDX), a powerful Customer Relationship Management (CRM) and SSL certificate to keep their leads and client data safe. This plan is available for a $99 set-up fee and $99 annual fee. Plus Plan: This plan offers all the benefits included in the Standard Plan and other features designed to help real estate professionals generate leads. Some of the key benefits of this plan include a lead capture app for obtaining the contact information of interested visitors, a blog app that helps write blogs and manage content, and up to 10 websites. This plan is available for just $199/year, plus a one-time setup fee of $99. "In view of the options available in the market for real estate professionals, we strongly believe that our new platform and new pricing plans will make an impact for two key reasons," says Peyman Aleagha, founder and CEO, WebsiteBox Corp. "At WebsiteBox, we know how important it is for real estate professionals to get their budget under control. That's why we introduced three affordable turnkey plans with no hidden fees. "Furthermore, unlike other solutions that require the client to build their website from scratch, WebsiteBox provides a fully-featured website that is pre-populated with SEO-friendly, localized content, listings and imagery. This allows real estate professionals to set up their website in a matter of minutes and for those who want to further customize their website, they can do so through our easy and intuitive website editor," Peyman added. To find out more, please visit www.WebsiteBox.com. About WebsiteBox Toronto-based technology firm that empowers over 35,000 real estate agents and brokerages, offering do-it-all real estate IDX websites from a one-time fee of $99 – the lowest price in the industry. WebsiteBox provides IDX (Internet Data Exchange) integration with over 300 multiple-listing-service boards throughout the United States and Canada.
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CoreLogic Reports the Negative Equity Share Fell to 3.8% in the Second Quarter of 2019
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More than Half Say 'Now Is a Good Time to Buy,' According to Realtor Survey
WASHINGTON (September 23, 2019) – New consumer findings from a National Association of Realtors® survey show that more than half of polled Americans believe that now is a good time to buy a home. Optimism fared well in the third quarter of 2019 as 63% of people said they believe that now is a good time for a home purchase, with 34% of those respondents saying they believe that strongly. NAR's chief economist Lawrence Yun said the favorable outlook also contains a degree of caution. "Mortgage rates are at historically low levels, so I see no sign of the optimism about home buying fading," he said. "However, the fact that slightly fewer are expressing strong intensity compared to recent prior quarters is implying some would-be buyers have concerns about the direction of the economy." Among those that stated that now is a good time to purchase a home, the silent generation (those born between 1925 and 1945) were most likely to express that belief. Seventy-five percent from that demographic said that now is a good time to buy. They were closely followed by older boomers (those born between 1946 and 1954), as 72% from that age group agreed that now is a good time to purchase a home. When NAR's third quarter Housing Opportunities and Market Experience (HOME) survey asked whether now is a good time to purchase a home, of those who have an income under $50,000, 54% answered "yes." Answers in the affirmative increased as household incomes increased. In the $50,000 to $100,000 bracket, 64% said now is a good time to buy a home, and among those polled who have an income of $100,000, 72% said that it is currently a good time to buy. "Not surprisingly, as incomes increase, the process of buying a home is less of a strain," said Yun. "This has always been the case, but in this third quarter survey, we see it to an even greater extent – high earners are more open to buying a home." The NAR survey also asked respondents about their thoughts on selling a home in the current market. Seventy-four percent of those polled said that now is a good time to sell a home – a modest increase over 73% last quarter. Of those respondents, 45% said they "strongly" believe now is a good time for selling a home, while the remaining 29% said they hold that belief "moderately." Those in the West region were most likely to hold this sentiment, as 81% of the region's respondents said "now is a good time to sell." In comparison, in the Northeast, 67% said now is a good time to sell a home. In regard to household income and thoughts on selling a home, the poll found that those in the higher wage brackets were more likely to state a belief in favor of now being a good time to sell a home. Among the surveyed who answered that now is a good time to sell, 82% of them earn more than $100,000. However, of those who earn less than $50,000, only 64% said now is a good time to sell. Respondents were also questioned about their outlook toward the U.S. economy. Fifty-two percent of those surveyed said they believe the U.S. economy is improving. This is a decrease from the second quarter of 2019, when 55% said they believed the economy is improving. Millennials (those born between 1980 and 1998) were the most pessimistic, only 49% said the economy is improving and 51% said it is not improving. Fifty-four percent of the silent generation – in this case, the most optimistic group – said the economy is improving. Forty percent of those in urban areas also believe the economy is improving, compared to 62% in rural areas. About NAR's HOME Survey From July through September, a sample of U.S. households was surveyed via a random-digit-dial, including a mix of cell phones and landlines. The survey was conducted by an established survey research firm, TechnoMetrica Market Intelligence. Each month approximately 900 qualified households responded to the survey. The data was compiled for this report representing a total of 2,705 household responses. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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U.S. Home Flipping Returns Drop to Nearly Eight-Year Low in Q2 2019
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Redfin Survey: 38% of Homebuyers and Sellers Hesitant to Move to a Place Where They'd Be in the Political Minority
Just 22% would be hesitant about moving to a place where they'd be in the racial minority SEATTLE, Sept. 20, 2019 -- Thirty-eight percent of homebuyers and sellers would be hesitant about moving to an area where most residents have differing political views from their own, down from 41 percent in 2017 and 42 percent in 2016, according to a new report from Redfin, the technology-powered real estate brokerage. They're much more likely to be open to the idea of moving to a place where they'd be in the racial, ethnic or religious minority, with just 22 percent saying they'd be hesitant about it. The report's findings are based on a June Redfin-commissioned survey of more than 3,000 U.S. residents who bought or sold a primary residence in the last year, or plan to in the next 12 months. Where possible and applicable, results were compared with those from similar past surveys. "This decade's tumultuous political climate has widened the aisle between parties not only in Congress and the voting booth, but in our nation's communities," said Redfin chief economist Daryl Fairweather. "While the share of homebuyers and sellers who hesitate about moving to a place where most people have different ideologies has been declining, I imagine tensions will start to flare again as we head into the 2020 election year. As more people—especially young professionals—head inland from blue coastal cities seeking affordability in smaller inland metros, it's likely they will seek out communities where they'll live, work and send their kids to school with like-minded people. We expect to see red places in the middle of the country become redder and the blues bluer as the migration trends we've been reporting continue." Sixteen percent of respondents would be enthusiastic about moving to an area where most residents have differing political views, a notable increase from 9 percent in 2017 and 8 percent in 2016. Nearly half of homebuyers and sellers—46 percent—would be neutral at the prospect. Broken down by age, 23 percent of respondents aged 25 to 34 would be enthusiastic about moving to an area where most residents do not share their political views, a higher share than any other age group. Just 6 percent of people aged 65 and over would be enthusiastic at the prospect. When the responses are broken down by race, 40 percent of white homebuyers and sellers said they'd be hesitant about moving to an area where most residents have different political views, a higher share than any other racial group. Black and African American respondents were most likely to be enthusiastic at the prospect (22 percent reported enthusiasm, versus 14 percent of white respondents). Non-white respondents to the surveys included people who indicated their race was black or African American, East Asian or Asian American, Latinx or Hispanic American, Middle Eastern or Arab American and Native American. Young people are most likely to be enthusiastic about moving to an area where most people are a different race than they are Twenty-nine percent of homebuyers and sellers would be enthusiastic about moving to an area where they'd be in the racial, ethnic or religious minority. A smaller share—22 percent—would feel hesitant at the prospect, and just about half of respondents said they feel neutral about it. The June 2019 survey was the first time Redfin asked this question. Forty-one percent of people under 25 years old would feel enthusiastic about moving to an area where most residents are a different race, ethnicity or religion than they are, more than any other age group. The older the respondent, the less likely they were to say they'd be enthusiastic about moving to a place where they would find themselves in the minority, with just 16 percent of people aged 65 and older reporting enthusiasm. Forty-three percent of black or African American people would be enthusiastic about moving to an area where most residents are of a different race, ethnicity or religion, a higher share than any other respondent racial group. White respondents were the least likely to say they'd be enthusiastic about moving to a place where they'd be in the minority, with just 26 percent indicating that response. Just 10 percent of black or African American respondents said they would be hesitant to move to an area where they'd be in the minority, less than any other group, versus 25 percent of white respondents, more than any other group. It's possible respondents felt more comfortable expressing their hesitancy about moving to a place where they'd be in the political minority than moving to a place where they'd be in the racial minority, as it has become acceptable and common place to openly avoid interaction with people of different political opinions. To read the full report, including graphs, please visit: https://www.redfin.com/blog/housing-race-politics-study About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales.
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Existing-Home Sales Increase 1.3% in August
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Showing Index Records Nationwide Growth for the First Time in More Than a Year, Indicating Increasing Strength in Buyer Demand
Midwest, Northeast, South and West Regions all Experience Year-Over-Year Increases, Which Could Mean More Buyer Competition is Likely This Fall September 19, 2019 – More prospective home buyers across the country came out in August compared to the same time last year as U.S. showing traffic grew for the first time in 13 months, according to the latest ShowingTime Showing Index report. All four regions tracked by the Showing Index saw an uptick in buyer activity, contributing to the first nationwide year-over-year increase since July 2018. For the fourth consecutive month the Northeast Region saw its largest year-over-year increase at 5.9 percent, the biggest jump recorded in the region since March 2018. The South also saw more showing traffic, with a 2.7 percent increase in activity compared to 2018. The West Region came in with a 2.2 percent increase, its first year-over-year gain since January 2018. The Midwest recorded a more modest increase of 1.3 percent. "The trend we saw in year-over-year buyer traffic in previous months continued across the U.S.," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years. If this trend continues, we are likely to see even more buyer competition this fall." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies. ShowingTime products are used in more than 250 MLSs representing over 950,000 real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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The "Black Friday" of Homebuying is Almost Here
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HouseFax adds 'Radon Risk' data to Comprehensive Property History Reports
BOISE, Idaho, Sept. 17, 2019 -- HouseFax is helping the real estate community "know before you buy," enhancing the company's comprehensive property history reports with the addition of Radon risk data. This new information, which is not typically found on property listing websites, is helping to offer the most detailed look into the history and true condition of a home and ensure that real estate clients can make the most informed decisions about a home transaction. "Very few home buyers are aware that significant radon exposure in residential real estate is the second leading cause of lung cancer," says Dr. Chris Apfel, President and CEO of SageMedic Corporation, a noted cancer diagnostic expert and member of the National HouseCheck Board of Directors. "According to the Center of Disease Control (CDC), radon is estimated to account for 20,000 lung cancer deaths in the United States annually. Having this information in the HouseFax report is critically important for any home buyer to ensure they are sufficiently informed of potential health risks." Radon is an odorless, colorless and radioactive gas and a byproduct of natural soil decay that can be found in low and harmless doses almost everywhere. However, at critically high doses, radon is a dangerous carcinogen that causes lung cancer. "HouseFax is a critical tool within the National HouseCheck family, providing the most detailed home data available for our clients," says Dennis Conforto, HouseCheck Chairman and CEO. "HouseCheck is built on a commitment to protect the value, health and safety of the home and those within it. Helping to identify any potential risk within a home is our obligation and this addition is a small but significant extension of that commitment." HouseCheck COO, Bill Klehm, adds, "HouseFax continues to break new ground, identifying critical information gaps and filling in the blanks for the benefit and protection of all real estate consumers." Factors that can determine the levels of Radon found within a home can include the type of structure, condition of the foundation, climate, how often windows are open, and even the type of appliances. Higher radon levels are often easily remedied with a few simple steps. However, without the data, many are unaware of their risks and level of exposure. To learn more about HouseFax Property History reports, Radon risk and other important information, please visit https://housefax.com. About HouseCheck National HouseCheck Corporation is transforming the real estate industry for home sellers, buyers and Real Estate professionals. HouseCheck is your Real Estate service, technology and data source for unmatched transparency and the most comprehensive, detailed look at the history of a home. Through its expanding family of services – HouseCheck Home Inspection, HouseFax, HouseTrack, HouseCheck Home Warranty, and more – HouseCheck delivers total protection and peace of mind for all involved in real estate transactions. Learn more about how HouseCheck is changing the way homes are bought and sold for the better at https://HouseCheck.com or by calling 844-94-CHECK (24325).
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REALTORS' Guide to Mastering Direct Mail
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CoreLogic Reports an 11.4% Year-Over-Year Decrease in Mortgage Fraud Risk in the Second Quarter of 2019
Risk index decreases for the first time since Q3 2016 as lower interest rates brought an influx of low-risk refinancesiBuyers represent a new wrinkle in the area of fraud detection CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Mortgage Fraud Report. The report shows an 11.4% year-over-year decrease in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index, which is the first decrease since the third quarter of 2016. The analysis found that during the second quarter of 2019, an estimated one in 123 mortgage applications, or 0.81% of all applications, contained indications of fraud, compared with the reported one in 109, or 0.91% in the second quarter of 2018. The CoreLogic Mortgage Fraud Report analyzes the collective level of loan application fraud risk experienced in the mortgage industry each quarter. CoreLogic develops the index based on residential mortgage loan applications processed by CoreLogic LoanSafe Fraud Manager™, a predictive scoring technology. The report includes detailed data for six fraud type indicators that complement the national index: identity, income, occupancy, property, transaction and undisclosed real estate debt. "The decrease in fraud risk mid-2019 appears temporary, based on unexpected interest rate drops and the resulting influx of low-risk refinance transactions," said Bridget Berg, principal of Fraud Solutions Strategy for CoreLogic. "The absolute number of risky loans has not decreased but are simply part of a larger mortgage market at this time." Report Highlights: New York, New Jersey and Florida remain the top three states for mortgage application fraud risk. For the first time since 2017, New Jersey outpaced Florida and moved into the second highest position. Eight of the top 10 riskiest states showed stable or decreasing risk over the past year. States with the greatest year-over-year risk growth include Idaho, Alabama, Mississippi, New York and Delaware. States with the largest decreases include Kansas, Missouri, Massachusetts, Illinois and New Mexico. Jumbo loans for home purchases is the only segment showing a risk increase. Nationally, all fraud types showed decreased risk. Undisclosed Real Estate Debt fraud risk had the greatest decrease year over year, followed by decreases in Property and Income fraud types. iBuyers — or companies that use technology to instantly make an offer on a home — accounted for more than 1% of all home sales in 2018 and are a contributing factor in the overall decline of fraud risk. To view the full CoreLogic Mortgage Fraud Report, click here. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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Redfin Report: Rochester, Buffalo and Hartford at Least Risk of a Housing Downturn in the Next Recession
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CoreLogic Reports Stark Contrast Between Rising Mortgage Delinquencies in Eight States while National Rate Remains at 20-Year Low
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report. The report shows that nationally 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in June 2019, representing a 0.3 percentage point decline in the overall delinquency rate compared with June 2018, when it was 4.3%. As of June 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, down 0.1 percentage points from June 2018. The June 2019 foreclosure inventory rate tied the prior seven months as the lowest for any month since at least January 1999. Measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. To monitor mortgage performance comprehensively, CoreLogic examines all stages of delinquency, as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. The rate for early-stage delinquencies – defined as 30 to 59 days past due – was 2.1% in June 2019, up from 2% in June 2018. The share of mortgages 60 to 89 days past due in June 2019 was 0.6%, unchanged from June 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in June 2019, down from 1.7% in June 2018. June's serious delinquency rate of 1.3% was the lowest for the month of June since 2005 when it was also 1.3%; it tied the April and May 2019 rates as the lowest for any month since it was also 1.3% in August 2005. Since early-stage delinquencies can be volatile, CoreLogic also analyzes transition rates. The share of mortgages that transitioned from current to 30 days past due was 1.1% in June 2019, up from 0.9% in June 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2% and peaked at 2% in November 2008. "A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event," said Dr. Frank Nothaft, chief economist at CoreLogic. "This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start." The nation's overall delinquency remains near the lowest level since at least 1999. However, several states and metropolitan areas posted small annual increases in June. The highest gains were in Vermont (+0.7%), New Hampshire (+0.3%), Nebraska (+0.2%) and Minnesota (0.2%), while the other four states – Michigan, Iowa, Wisconsin and Connecticut – experienced a nominal gain of just 0.1%. Some metropolitan areas also recorded small increases in overall delinquency rates. Metros with the largest increases were Janesville-Beloit, Wisconsin (+2.5 percentage points) and Pine Bluff, Arkansas (+1.6 percentage points). Panama City, Florida; Altoona, Pennsylvania; and Kokomo, Indiana all experienced increases of 0.6 percentage points. "While the nation continues to post near-record-low mortgage delinquency rates, we are seeing signs of emerging stress in some states," said Frank Martell, president and CEO of CoreLogic. "We saw rates jump in states such as Vermont, New Hampshire, Nebraska and Minnesota that weren't tied to a natural disaster." The next CoreLogic Loan Performance Insights Report will be released on October 8, 2019, featuring data for July 2019. For ongoing housing trends and data, visit the CoreLogic Insights Blog: www.corelogic.com/insights. About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
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U.S. Housing Inventory Declines for First Time in a Year
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RESAAS Announces Partnership with DocuSign to Accelerate the Digitization of the Real Estate Industry
VANCOUVER, BC (September 9, 2019) -- RESAAS Services Inc., a cloud-based technology platform for the real estate industry, is pleased to announce it has completed an integration with DocuSign, Inc. (DOCU). With the integration to the DocuSign Agreement Cloud for Real Estate, agent members of RESAAS can utilize DocuSign eSignature to electronically manage a variety of workflows from within the RESAAS Platform. RESAAS has become an agent's primary hub for unique real estate data. This ranges from freshly-signed new listings yet to be added to the MLS, through to valuable referral data, allowing agents to refer business to each other throughout the RESAAS network. With DocuSign, agents can now send unique data from inside RESAAS directly into their DocuSign account to connect and automate how they sign and execute agreements. "RESAAS provides tremendous value to real estate agents by offering technology that helps its members work more efficiently," said Wes Womack, Director of Real Estate Partnerships at DocuSign. "We are excited to partner to offer the first e-signature solution for RESAAS members to help them digitally transform their agreement processes." DocuSign and RESAAS share some large mutual clients. This integration will allow both companies to drive further value, efficiency and ROI for their customers. "DocuSign is the market-leader in the electronic signature space, and is a company we have been working closely with as RESAAS has grown," said Tom Rossiter, CEO at RESAAS. "This integration provides the robust foundation to connect more of our mutual customers, our prospective customers, and new partners. Doing so will allow for a faster and more secure experience for real estate agents and their clients." The integration between RESAAS and DocuSign is now live for all RESAAS members. Brokerage and Enterprise companies in the residential and commercial real estate industry can learn more about leveraging this partnership by contacting [email protected] About RESAAS Services Inc. RESAAS is a cloud-based and blockchain technology platform that enables real estate brokerages, franchises and associations to bring real-time communication, new business opportunities and unique data to their agents on a global basis. Visit www.resaas.com for more information.
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Terradatum Partners with Restb.ai to Include Image Tagging A.I. in Listing Videos
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ShowingTime Acquires Centralized Showing Service, Accelerating Its Growth with Enhanced Offerings to an Expanded Audience
Chicago, IL, September 06, 2019 -- ShowingTime, the real estate industry's leading showing management and market stats technology provider, announced today it has acquired Centralized Showing Service to better serve the needs of clients in the residential real estate industry. The two established companies bring together a combined 43 years of experience helping real estate professionals and their clients use technology to efficiently manage showings and feedback, while also providing market reports, recruiting tools and other software products. The companies' offerings are used in the U.S. and Canada by associations/multiple listing services, offices, brokers, teams, agents, buyers and sellers. "Our executive leadership team is confident that this acquisition will enable us to leverage our two platforms to best serve the needs of clients now and in the future," said ShowingTime Founder and CEO Scott Woodard. "We'll continue investing in research and development to provide innovative, streamlined products and solutions to the residential real estate industry," he added. "We are excited about this opportunity to join ShowingTime," said Centralized Showing Service President and Owner Bob Faherty. "Our clients will have access to technology-rich products that blend the best features of both companies' offerings and equip them to serve their clients even more efficiently." About ShowingTime ShowingTime is a showing management and market stats technology provider offering solutions that simplify the appointment scheduling process for real estate professionals, buyers and sellers. Its MarketStats division provides interactive tools and easy-to-read market reports for associations/multiple listing services, brokers, teams, agents and other real estate companies, as well as recruiting software for brokers. For more information, contact us at [email protected] About Centralized Showing Service (CSS) In 1996, brothers Bob and Kevin Faherty created a call center solution to help the real estate community schedule showings more efficiently. For more than 20 years, Centralized Showing Service has focused on providing excellent service and online productivity tools for agents to easily book and manage showings.
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CoreLogic Reports July Home Prices Increased by 3.6% Year Over Year
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Free Google for Real Estate eBook Now Available
Google processes around 70,000 searches per second and over 5.8 billion searches per day, but Google is more than just a search engine. Google offers internet users a large range of tools and services free of charge. Learn how to use Google's free products to grow, manage, and organize your business with the Google for Real Estate eBook. This free guide will walk you through what each of the programs does, why you should use it, and specific examples of how the program can help your business. Programs covered include: Gmail, Drive, Calendar, Keep, My Maps, My Business, and Analytics. Download Google for Real Estate for free here! To view the original post, visit the Homes.com blog.
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Pending Home Sales Decline 2.5% in July
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Most Areas Targeted for New Opportunity Zone Redevelopment Incentives Have Home Prices Well Below National Levels
New tax breaks are aimed at spurring improvement in low-income Opportunity Zone areas of the United States; almost half have median home prices below $150,000 IRVINE, Calif. – August 29, 2019 — ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released a special report analyzing qualified Opportunity Zones established by Congress in the Tax Cuts and Jobs act of 2017 (see full methodology below). In this report, ATTOM looked at nearly 3,100 zones with sufficient sales data to analyze, which included areas with at least five home sales in the second quarter of 2019 as well as an average of at least five sales per quarter since Q3 2018. The analysis found that roughly 80 percent of those zones had median home prices in the second quarter of 2019 that were below the national figure of $266,000 and that half had median prices of less than $150,000. The report further compared Opportunity Zones to surrounding regions and found that median Q2 2019 prices in about one in four zones were less than 50 percent of the typical value in the Metropolitan Statistical Areas where they exist. "Opportunity Zones are among the poorest areas of the country, with some of the lowest home prices. This should come as no surprise because the zones are designed to be in or alongside economically distressed neighborhoods," said Todd Teta, chief product officer with ATTOM Data Solutions. "But the differences between these and other areas in most parts of the nation are stark. The numbers provide key benchmarks for how much room there is for these areas to grow and how much new investment they need." High-level findings from the report include: States with the highest percentage of census tracts meeting Opportunity Zone requirements include Wyoming (17 percent), Mississippi (15 percent), Alabama (13 percent), North Dakota (12 percent) and New Mexico (12 percent). Washington, DC, also is among the leaders (14 percent). Nationwide, 10 percent of all tracts qualify. Among the 3,073 Opportunity Zones with sufficient data to analyze, California has the most, with 374, followed by Florida (317), Texas (164), Pennsylvania (154), North Carolina (145) and Tennessee (138). Of the tracts analyzed, 47 percent had a median price in Q2 2019 of less than $150,000. The median ranged from $150,000 to $199,999 in 17 percent, from $200,000 up to the national median of $266,000 in 16 percent and more than $266,000 in 19 percent. Within Opportunity Zones, 86 percent had median Q2 2019 sales prices that were less than the median sales price for the surrounding Metropolitan Statistical Area. Roughly 26 percent had median sales prices less than half the figure for the MSA. Only 14 percent had median sales prices that were equal to or above the median sales price in the MSA. States that had highest percentage of Opportunity Zone tracts with a median price less the half the MSA figure included Alabama (55 percent), Pennsylvania (53 percent), Illinois (51 percent), Ohio (47 percent) and Georgia (45 percent). States with the smallest percentages included Washington (1 percent), Nevada (3 percent), Oregon (4 percent) Colorado (4 percent) and Indiana (4 percent). Regionally, the Midwest had the highest rate of Opportunity Zone tracts with a median home price of less than $150,000 (73 percent), followed by the South (57 percent), the Northeast (53 percent) and the West (13 percent). The Midwest also had the highest percentage of Opportunity Zone tracts where the median price was less than that of surrounding MSAs (89 percent), followed by the Northeast (87 percent), the South (85 percent) and the West (85 percent). In addition, the report found that among Opportunity Zones with at least 10 sales in each of the five latest quarters, 41 had Q2 2019 medians of $400,000 or more. They included areas of King County, WA; Denver County, CO; Coconino County, AZ; Deschutes County, OR and Alameda and Contra Costa counties in California. At the opposite end, 50 zones had Q2 2019 medians of less than $50,000. They included areas of Philadelphia, PA; Baltimore, MD; Montgomery, AL; Duval County, FL and Jefferson County, AL. Report methodology The ATTOM Data Solutions Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM Data Solutions compared median home prices in tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in Q2 2019, plus an average of five sales per quarter for the latest four quarters. Median household income data for tracts and counties comes from surveys taken the U.S. Census Bureau (www.census.gov) from 2013 through 2017. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included the West region for this report. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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Home Buyers Gear Up for Potential 2020 Recession
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Northeast Region Sees Third Consecutive Month of Increased Year-Over-Year Buyer Traffic in July as U.S. Showing Activity Continues to Stabilize
Midwest, South and West Regions Report More Moderate Year-Over-Year Declines August 21, 2019 – The Northeast recorded its third consecutive month of heightened home buyer activity in July compared to the same time last year, while the U.S. as a whole reported its smallest decline in year-over-year showing activity in the past 12 months, according to the latest ShowingTime Showing Index® report. The 2.7 percent year-over-year increase in showing activity in the Northeast represents the largest such increase in the region since April 2018. Year-over-year declines in showing activity continued in the other regions but at lower rates, with the West Region's 4.1 percent year-over-year decline its lowest since March 2018. The South's 1.1 percent decline was its lowest since September 2018, while the Midwest was down 3.3 percent compared to the same time last year. "Buyer traffic has a lot of seasonal variation, so we need to compare last year's numbers to understand the trend," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "While spring buyer traffic per listing was down sharply compared to 2018, from April onward we've seen a steady rebound. In July, national traffic was already roughly in line with last year's numbers, and if the current trend continues, listings on average could see more showings this fall than what we saw in the fall of 2018." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies. ShowingTime products are used in more than 250 MLSs representing over 950,000 real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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Homes.com and IXACT Contact Integration to Provide Real-Time Lead Generation and Conversion Tools for Agents
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Curbio Named Winner at NAR's Second Annual iOi Summit Pitch Battle
SEATTLE (August 22, 2019) -- The National Association of Realtors announced that Curbio, a presale renovation technology startup company, won the Pitch Battle at NAR's second annual Innovation, Opportunity & Investment (iOi) Summit in Seattle. Second Century Ventures, NAR's strategic investment arm, hosted the pitch battle which featured a select group of startups focused on developing innovative solutions for the commercial and residential real estate marketplaces. Contestants presented live demos in front of venture capitalists, technology executives, innovators, brokers and real estate professionals to pitch their ideas and help define the future of real estate. Fourteen finalists competed in the battle live in front of conference attendees and thousands of virtual attendees through livestream. Curbio's pitch was delivered by Vice President of Marketing, Rikki Rogers, who was one of eight women in the battle. Curbio's solution allows agents to drive return on investment for the seller through presale renovation, with the goal of helping the homeowner sell quickly and for the best price possible. Curbio does not get paid until the property completes settlement. Rogers successfully quipped with the judges to illustrate Curbio's innovative model for success. "Our goal with this competition is to identify and showcase concepts poised to help drive the real estate industry forward," said NAR CEO Bob Goldberg. "This year's finalists are among the best new technology startups for real estate. The iOi Summit Pitch Battle is an exceptional platform for these startups to share their ideas not only with the judges, but also with potential investors, clients and Realtors®." As the victor – aside from the notable exposure – Curbio also received a prize package which includes $15,000, official Pitch Battle trophy, a booth at 2019 Realtors® Conference & Expo, with an exclusive opportunity to deliver a live demonstration in the NAR Booth Theatre, a forthcoming article featured in Realtor® Magazine and an additional story written by RISMedia. To see a full list of 2019's 14 finalists, visit nar.realtor/ioi. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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Existing-Home Sales Climb 2.5% in July
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The Top U.S. Destinations For Movers Aren't Where You Think
Medium-sized metros offering relative affordability, strong employment and large boomer populations entice the most out-of-state buyers SANTA CLARA, Calif., Aug. 21, 2019 -- The typical home buyer only moves 15 miles from their current residence, but realtor.com's Top Moving Destinations analysis shows that metros that offer relative affordability, strong employment, and large boomer populations can entice people to pull the trigger on an out-of-state home purchase. Released today, the list is made up of mostly medium-sized markets, including: Charleston, S.C.; Boise, Idaho; Honolulu; Columbia, S.C.; Fort Myers, Fla.; Portland, Maine; Sarasota, Fla.; Greenville, S.C.; Tucson, Ariz.; and Las Vegas. Metros were ranked based on which area received the most out-of-state views on realtor.com® in the second quarter of 2019. Buyers Seek Bargains Without Going Too Far "Home prices have risen for seven consecutive years, far outpacing salary growth. Although interest rates are the lowest they have been in three years, cost has become a deal breaker for many buyers, especially in pricey West Coast metros," said realtor.com® Senior Economist, George Ratiu. "But instead of giving up on the American Dream, many buyers have decided to look for a home in medium-sized metros outside their state that offer price relief, and a similar lifestyle." Seven of the top 10 moving destinations attracted non-local buyers looking at homes with median prices 3 percent to 34 percent less expensive than their home markets, in Q2 2019. However, these destinations are not necessarily cheap; in fact, they are 16 percent higher than the national median of $315,000. But when compared to home prices in their current metro areas, they feel like a steal. For instance, Boise's median listing price of $372,500 looks more attractive compared to Los Angeles's $766,800 and Salt Lake City's $434,900. Movers are also looking to stay relatively close to home by seeking out markets that are just a quick plane ride away. Charleston, the No. 1 moving destination in America, is sought out by buyers in neighboring markets of Charlotte, N.C.; Atlanta; and New York. Boise, No. 2 on the list, is especially attractive to those in Los Angeles, Salt Lake City, and Sacramento, Calif. Booming Jobs and Low Taxes Drive Up Demand The promise of high paying jobs has always been a catalyst for buyer demand, but it's especially true for those considering relocation to a new state. According to realtor.com®'s analysis, the top 10 destinations have an average unemployment rate of 3.3 percent, which is 30 basis points lower than the national average, and 38 basis points below what out-of-state buyers encounter in their home metros. Sweetening the financial deal for out-of-state buyers are the tax incentives in these destinations. Eight of the top 10 are located in states that have lower overall tax burdens compared to the national average of 8.6, including Cape Coral-Fort Myers and North Port-Sarasota, Fla. with a 6.6 percent overall burden; Boise at 7.8 percent; and the three South Carolina metros- Charleston, Greenville and Columbia at 7.6 percent, according to WalletHub. Hot Spots Retirees and Vacationers The majority of the metros on the list are sunny locales that are popular with vacationers and retirees alike, as well as snowbirds escaping the Northern winters. In fact, the average population share of those aged 65-years and older was 19.5 percent among the top 10, compared to 16.2 nationally. The top retiree markets on this list were Sarasota, Fla.; Fort Myers, Fla.; and Tucson, Ariz. whose populations aged 65 years and older accounted for 32.3 percent, 28.7 percent, and 20.0 percent of the population, respectively. "The fact that the majority of the metros on the list are hot spots for retirees signals a shift in boomer preferences from the expensive cities where they built their careers to the more easy-going feel of vacation communities," added Ratiu. "Some of them may be initiating the purchase of their retirement home as a second home, while others may be purchasing it in their post-career stage of life." Additionally, 7.9 percent of homes sold in these markets are secondary homes, compared to the national average of just 2.7 percent. Fort Myers, Fla.; North Port, Fla.; and Tucson, Ariz. had the highest share of secondary home sales among the top 10 with 17.6 percent, 16.4 percent, and 9.2 percent, respectively. For more information, please visit: https://www.realtor.com/research/q2-2019-cross-market-demand-report/ About realtor.com® Realtor.com®, The Home of Home Search℠, offers the most MLS-listed for-sale listings among national real estate portals, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. Through its Opcity platform, realtor.com® uses data science and machine learning to connect consumers with a real estate professional based on their specific buying and selling needs. Realtor.com® pioneered the world of digital real estate 20 years ago, and today is a trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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NAR's Commitment to Excellence Program Selected as Learning! 100 Award Winner
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House Poor, No More
Realtor.com launches industry-first monthly payment filter to help buyers stay on budget SANTA CLARA, Calif., Aug. 19, 2019 -- "How much can I afford?" is one of the largest decisions that faces every home buyer, no matter his or her budget or where he or she wants to live. Realtor.com, the Home of Home Search, today announced an industry-first monthly payment filter that helps buyers stick to their budget by hiding homes that exceed their target monthly payment, as well as two new calculators that help take the financial guesswork out of home buying. "At realtor.com®, we go beyond listings search to help people figure out what homes are right for both their lifestyle and budget," said Chung Meng Cheong, chief product officer, realtor.com®. "The fear of overextending themselves financially is one of the biggest concerns for today's home buyers. Our new cost calculators give buyers deep insights into what specific home prices mean for their bottomline, while our new monthly payment filter prevents them from seeing homes outside their monthly budget so they can stay on track financially." The new features include: "How Much Home Can I Afford?" Calculator for iOS, Android, and Web: Helps estimate your ideal home budget. Simply click "More" on the realtor.com® iOS app or "Mortgage" on the Android app. You can then enter your annual income, monthly debt, desired down payment, and location and realtor.com® will help you calculate a target home price and estimated monthly payment based on current interest rates. Results include the full range of homes you can afford and allow you to customize your budget to be more conservative or aggressive. "Monthly Cost Calculator" for iOS and Android: Provides you with a detailed and transparent look at the estimated monthly payments on a new home. First select "More" on the realtor.com® iOS app or "Mortgage" on the Android app and tap "Monthly Cost Calculator." Then enter the anticipated home price, anticipated down payment, and any other parameters such as loan type, interest rates, etc. and realtor.com® will help calculate your total estimated monthly home cost and break it down by category. If you aren't sure about some of the information, the feature will use averages that you can update later. The calculator is also accessible from the Listing Details Page on the iOS and Android apps. Monthly Payment Filter for iOS: After you determine how much home fits into your monthly expenses, the realtor.com® Monthly Payment Filter can help you stick to your budget by filtering out all the homes that are estimated to exceed your range. Simply enter a home search, tap "Filter" and select "Monthly Payment" to enter your expected down payment and target monthly mortgage budget. The app will then return all the homes currently on the market that meet your search and approximate budget parameters. This feature, a first among national real estate portals, is especially helpful for first time buyers who are used to paying monthly rent, but have trouble budgeting based on total home price. This feature will be coming soon to the realtor.com® Android app. For more information about these tools, please visit: https://www.realtor.com/homemade/finding-the-right-home-and-the-right-price-for-you/ About realtor.com® Realtor.com®, The Home of Home Search℠, offers the most MLS-listed for-sale listings among national real estate portals, and access to information, tools and professional expertise that help people move confidently through every step of their home journey. Through its Opcity platform, realtor.com® uses data science and machine learning to connect consumers with a real estate professional based on their specific buying and selling needs. Realtor.com® pioneered the world of digital real estate 20 years ago, and today is a trusted resource for home buyers, sellers and dreamers by making all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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The Constellation Real Estate Group Acquires Assets of SmartZip
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Adwerx Named to Inc. 5000 List for Third Consecutive Year
Durham-based digital advertising leader makes prestigious list of America's fastest growing private companies Inc. magazine revealed that Adwerx, a leading provider of localized digital advertising, has earned the 2661st position on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. This year will mark the third consecutive year that Adwerx has made the list. Adwerx is part of an exclusive list with many notable companies, including Microsoft, Intuit, Zappos, Pandora, Oracle, and Zillow. Beginning operations in 2013, Adwerx was founded with the concept of leveling the playing field for businesses of all sizes through scalable, automated digital advertising. The company's role as a leading technology company was established when they launched their first product, Automated Listing Advertising, designed to serve the needs of the real estate industry. Just two years later, Adwerx recently hired its 100th employee, it's rolling out its newest Enterprise product, Automated Retargeting, and is about to embark on some ambitious steps that have the potential to take the business to entirely new heights. "We are honored to receive this recognition for the third year in a row and we will continue to focus on building a digital marketing platform that positions every business for success," said Adwerx CEO Jed Carlson. "Of course, we could not achieve what we have without the top talent that supports this company every day." The 2019 Inc. 5000 stands out from past lists, as it shows a staggering amount of growth from companies within very competitive markets. This year's list achieved an astounding three-year average growth of 454 percent, and a median rate of 157 percent. This sustained level of growth is extraordinarily rare. "Needless to say, making the list gets harder every year as your starting base grows. Of the tens of thousands of companies that have applied to the Inc. 5000 over the years only a fraction have made the list more than once," said Inc. Editor in Chief James Ledbetter. "A mere one in eight companies have made the list 3 times." Adwerx continues its trend of rapid growth, and currently has ten open positions. The company is headquartered in Durham, NC's historic American Tobacco Campus. To begin your career with Adwerx, please visit about.adwerx.com/careers. About Adwerx Adwerx provides Brilliantly Simple Digital Advertising™ for real estate, mortgage, insurance, financial services, and other businesses. Ads powered by Adwerx have received billions of impressions on social media, mobile platforms, and the most widely read news sites. Adwerx has served 200,000 customers across the U.S., Canada, and Australia and has been named to the Inc. 5000 list of America's Fastest Growing Private Companies for three years in a row. To see how Adwerx can work for you, please visit www.adwerx.com. Plus, NAR members receive 15% additional impressions on Adwerx campaigns, which can be combined with other eligible discounts. This exclusive benefit is available through the National Association of REALTORS®' REALTOR Benefits® Program. Methodology The 2019 Inc. 5000 is ranked according to percentage revenue growth when comparing 2015 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2015. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2018. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2015 is $100,000; the minimum for 2018 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000. About Inc. Media Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Inc. took home the National Magazine Award for General Excellence in both 2014 and 2012. The total monthly audience reach for the brand has been growing significantly, from 2,000,000 in 2010 to more than 20,000,000 today. For more information, visit www.inc.com. The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates the remarkable achievements of these companies. The event also offers informative workshops, celebrated keynote speakers, and evening functions.
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