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Scammers Dupe Renters on Craigslist

Scammers Dupe Renters on Craigslist | Real Estate Plus+ Daily News | Scoop.it
Despite repeat warnings, Americans are still falling for real estate scams on free classified ad sites.
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Calif 2017 Housing Market Forecast

Calif 2017 Housing Market Forecast | Real Estate Plus+ Daily News | Scoop.it
The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413,000 units, up slightly from the projected 2016 sales figure of 407,300 homes sold. Sales in 2016 also will be virtually flat at 407,300 existing, single-family home sales, compared with the 408,800 pace of homes sold in 2015.
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IBM to buy Promontory Financial Group; plans to bring AI to regulatory compliance

IBM to buy Promontory Financial Group; plans to bring AI to regulatory compliance | Real Estate Plus+ Daily News | Scoop.it
Regulatory compliance is about to take a leap into the 21st century, and beyond, as IBM announced that it plans to acquire Promontory Financial Group, a “global market-leading risk management and regulatory compliance consulting firm.”

The purpose of the acquisition? To combine the financial regulatory experience that resides within Promontory with Watson, IBM’s artificial intelligence computer system to build a comprehensive service to help financial institutions comply with their regulatory requirements.
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Dotloop Announces Dotloop Connect with 15 Partners 

Dotloop Announces Dotloop Connect with 15 Partners  | Real Estate Plus+ Daily News | Scoop.it
To more efficiently manage their real estate business, dotloop Connect allows users to easily integrate dotloop's products and services with a group of leading industry software providers. This allows real estate professionals to streamline their use of partner companies' products by transferring their information from dotloop, improving their productivity and efficiency.
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NAR - Pending Home Sales Retreat in August

NAR - Pending Home Sales Retreat in August | Real Estate Plus+ Daily News | Scoop.it
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 2.4 percent to 108.5 in August from a downwardly revised 111.2 in July and is now slightly lower (0.2 percent) than August 2015 (108.7). With last month's decline, the index is now at its second lowest reading this year after January (105.4).
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CoreLogic: Cash sales hit record low in June

CoreLogic: Cash sales hit record low in June | Real Estate Plus+ Daily News | Scoop.it
Cash sales fell to less than 30% for the first time since the housing crisis began, according to the latest report from CoreLogic.

Cash sales decreased in June, down 2.5 percentage points from last year and 0.9 percentage points from May to 29.3%.
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Realogy Franchise Group Appoints John Peyton as President and Chief Operating Officer

Realogy Franchise Group Appoints John Peyton as President and Chief Operating Officer | Real Estate Plus+ Daily News | Scoop.it
Realogy Holdings Corp. (RLGY), the largest full-service residential real estate services company in the United States, today announced the appointment of John Peyton to the newly created role of president and chief operating officer (COO) for its subsidiary, Realogy Franchise Group (RFG).
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Affordability crisis almost over? Household incomes increase faster than home prices

Affordability crisis almost over? Household incomes increase faster than home prices | Real Estate Plus+ Daily News | Scoop.it
The S&P CoreLogic Case-Shiller Indices came out today, showing yet another increase in home prices in July at a slightly faster rate than June. In fact, this increase was just 0.6% short of the record high set in July 2006.

The industry’s reaction compared this increase to the recent increase in household income. All seem to agree that while home prices are increasing, the recent rise in income, which rose at a faster rate than home prices, could eventually ease the affordability problems with homeownership.
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Consumer confidence hits highest level since recession

Consumer confidence hits highest level since recession | Real Estate Plus+ Daily News | Scoop.it
Consumer confidence hit its highest level in nine years, right about when the last recession began, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen, a provider of information and analytics around what consumers buy and watch.

Consumer confidence increased in September to 104.1, up from 101.8 in August. The Present Situation Index increased from 125.3 to 128.5 and the Expectations Index both increased from 86.1 to 87.8.
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Calif - August pending home sales and Market Pulse Survey

Calif - August pending home sales and Market Pulse Survey | Real Estate Plus+ Daily News | Scoop.it
Statewide pending home sales rose in August on a seasonally adjusted annualized basis, with the Pending Home Sales Index (PHSI)* increasing 6.4 percent from 113.9 in August 2015 to 121.3 in August 2016, based on signed contracts. The year-over-year increase was the fifth consecutive positive annual improvement and the largest in 2016. Despite the improvement, overall market conditions appear to be slowing down and closed transactions plateauing.
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August Home Sales Forecast: Steady into Autumn

August Home Sales Forecast: Steady into Autumn | Real Estate Plus+ Daily News | Scoop.it
Tight inventory finally caught up with existing home sales in July with sales falling 3.2 percent after meeting or beating expectations for much of the spring. The August home sales forecast predicts a slight recovery in existing home sales, only bringing them back in line with the range that has prevailed since March.
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How The Simple Act Of Paying More Attention Compensates For An Aging Brain

How The Simple Act Of Paying More Attention Compensates For An Aging Brain | Real Estate Plus+ Daily News | Scoop.it
One ability that changes as we age is our brain's ability to categorize the information streaming in. This is essential, because it helps us to avoid doing things like eating poison berries. Categorization learning is largely visual, but also relies on attention. When we are young, we find it easy to add new things to our internal categories. However, as we age, this ability slows down.
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The new normal: Time to close settles at 46 days

The new normal: Time to close settles at 46 days | Real Estate Plus+ Daily News | Scoop.it
After rising, falling, and rising again in the wake of the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule, the time to close a mortgage loan appears to finally be settling into a new normal – about a month and a half.

Early on, the average time to close a loan increased from 46 days in October 2015, when TRID took effect, to as high as 50 days in January of this year.
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15 Affordable Beach Towns for Summer Living Year-Round

15 Affordable Beach Towns for Summer Living Year-Round | Real Estate Plus+ Daily News | Scoop.it
Lower demand equates to lower price, and lower land development costs in these hidden gems could allow builders to more easily produce affordable entry-level homes that are in short supply. And while these markets may be under the radar now, affordable prices and small town charm could put them on the map for people nearby looking for a weekend getaway, or Snowbirds that are lured to mild winter weather and lower living costs.
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9 tricks to appear smart in brainstorming meetings

9 tricks to appear smart in brainstorming meetings | Real Estate Plus+ Daily News | Scoop.it
Here are 9 tricks to make you look like you’re the creative force on your team.
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Banks finally want to originate mortgages again

Banks finally want to originate mortgages again | Real Estate Plus+ Daily News | Scoop.it
Andrea Riquier explained in an article in MarketWatch that banks were “scarred by the crisis and the new regulations put in place since then,” creating the question “why put up with all the uncertainty and risk involved with mortgages, which have always been a low-margin business?”
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Housing affordability at the worst level in seven years

Housing affordability at the worst level in seven years | Real Estate Plus+ Daily News | Scoop.it
Home affordability is at the worst level in seven years, with 24% of the U.S. county housing markets less affordable than their historic affordability averages in the third quarter, the most recent ATTOM Data Solutions Home Affordability Index for third quarter 2016 recorded.

This level is not only up from 22% of markets in the previous quarter, but it is up from 19% of markets a year ago.
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New York announces new requirements for maintenance of zombie homes

New York announces new requirements for maintenance of zombie homes | Real Estate Plus+ Daily News | Scoop.it
The state of New York is taking its fight against zombies homes to the next level, as the state announced a series of new regulations for mortgage lenders and servicers that aim to hold the companies “accountable” for the maintenance of abandoned foreclosures.

Earlier this year, New York Gov. Andrew Cuomo signed what the state called “sweeping” legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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Google Translate Just Got 60% Better By Working On Whole Sentences

Google Translate Just Got 60% Better By Working On Whole Sentences | Real Estate Plus+ Daily News | Scoop.it
On Tuesday, Google announced a new system called Google Neural Machine Translation (GNMT) that works on whole sentences and improves accuracy about 60% on average over the old phrase-based machine translation (PBMT), including on notoriously difficult Chinese-to-English translations.
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Email Designs People Can't Resist

Email Designs People Can't Resist | Real Estate Plus+ Daily News | Scoop.it
According to Emma, (@myemma.com) a provider of email marketing software and services, in a new eMail study, you don’t have to be a neuroscientist to do genius email marketing, but it certainly helps, says the report. The report shows how top brands are using the secrets of the human mind to design and write email (consumers) can’t resist.
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Case-Shiller results barely miss housing-boom high

Case-Shiller results barely miss housing-boom high | Real Estate Plus+ Daily News | Scoop.it
Home prices continued their increasing trends continued to increase in July, but at a slower rate than before, according to the most recent report by S&P CoreLogic Case-Shiller Indices released by S&P Dow Jones Indices and CoreLogic.  

“The S&P CoreLogic Case-Shiller National Index is within 0.6% of the record high set in July 2006,” said David Blitzer, S&P Dow Jones Indices managing director and chairman of the Index Committee. “Seven of the 20 cities have already set new record highs.”
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NAR - Existing-Home Sales Soften Further in August

NAR - Existing-Home Sales Soften Further in August | Real Estate Plus+ Daily News | Scoop.it
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.9 percent to a seasonally adjusted annual rate of 5.33 million in August from a downwardly revised 5.38 million in July. After last month's decline, sales are at their second-lowest pace of 2016, but are still slightly higher (0.8 percent) than a year ago (5.29 million).
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New home sales drop in August

New home sales drop in August | Real Estate Plus+ Daily News | Scoop.it
New single-family home sales dropped in August from an unusually-high number of sales in July, but still recorded an increase from last year.

Sales of new single-family houses in August decreased 7.6% monthly to a seasonally adjusted annual rate of 609,000, according to a report from the U.S. Census Bureau and the Department of Housing and Urban Development. This is still, however, 20.6% above last year’s estimate of 505,000.
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It's official: Fannie Mae moves to open credit box with trended credit data

It's official: Fannie Mae moves to open credit box with trended credit data | Real Estate Plus+ Daily News | Scoop.it
This weekend marked the official launch of Fannie Mae’s Desktop Underwriter Version 10.0, implementing the long-awaited use of trended credit, a change that could open up the credit box to potential borrowers previously unable to get a mortgage due to their credit history.

“Desktop Underwriter transformed the industry when it was introduced over twenty years ago,” said Marianne Sullivan, senior vice president of single-family business capabilities with Fannie Mae.
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Students in Copenhagen can pay $600 month to live in these floating shipping container dorms

Students in Copenhagen can pay $600 month to live in these floating shipping container dorms | Real Estate Plus+ Daily News | Scoop.it
The dorms, which are modular and made of low-cost shipping containers, are less grungy than you might expect. They each include a bedroom, bathroom, and kitchen, which are all private. There are also common spaces — a courtyard, kayak landing, bathing platform, barbecue area, and roof terrace.
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CoreLogic economist: Here's a current snapshot of the mortgage credit market

CoreLogic economist: Here's a current snapshot of the mortgage credit market | Real Estate Plus+ Daily News | Scoop.it
Eisman reminded the packed ballroom how, in his opinion, greed, leverage and porous underwriting standards led to the mortgage meltdown. The reaction to this crisis, he said, has led to a new paradigm in mortgage lending, which currently may be too restrictive in terms of underwriting and may take up to 10 years to “workout the kinks.”
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