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Perlow receives IAR Political Involvement Award

Perlow receives IAR Political Involvement Award | Real Estate Plus+ Daily News | Scoop.it

Congratulations to Lincolnwood REALTOR® and appraiser Gerald N. Perlow, of Property Valuation Services, on receiving this year’s Illinois Association of REALTORS® Political Involvement Award.

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Real Estate Related News Plus Miscellaneous Tech Stories and News of Interest
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USDA slashing mortgage fees

USDA slashing mortgage fees | Real Estate Plus+ Daily News | Scoop.it
Borrowers who use the U.S. Department of Agriculture’s Rural Housing Service to get a mortgage could soon pay significantly less for their loan, as the USDA announced that it is about to cut its loan fees for lenders who use the USDA’s Single Family Housing Loan Guarantee Program.

In an announcement sent to lenders this week, the USDA said that it plans to cut the fees it charges lenders both its upfront guarantee fee and its annual fee beginning on Oct. 1, 2016, the first day of fiscal year 2017.
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CoreLogic: Cash sales make up 30% of home sales in May

CoreLogic: Cash sales make up 30% of home sales in May | Real Estate Plus+ Daily News | Scoop.it
Cash home sales in May decreased month-over-month and year-over-year, making the first five months of 2016 the slowest start to a year since 2008, according to a report from CoreLogic.

In May, cash sales made up 30% of total home sales, which is down 2.5 percentage points from May 2015, and 1.7 percentage points from April. For the first five months of 2016, cash sales averaged 33%.
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July 2016 Market Report: Four Years of Recovery, Still 4+ Percent Left to Go

July 2016 Market Report: Four Years of Recovery, Still 4+ Percent Left to Go | Real Estate Plus+ Daily News | Scoop.it
On first blush, it may be hard to believe that after four years of growth, the market is still not back to pre-recession highs. But that kind of hot-take reaction ignores both the length and depth of the housing recession, and the strength of the boom that preceded it. Between April 1997 and August 2008, home values grew year-over-year for 125 consecutive months, more than a decade of continuous growth. And between September 2007 and July 2012, home values fell year-over-year for 59 straight months – almost five straight years of declines.
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NAR - Existing-Home Sales Lose Steam in July

NAR - Existing-Home Sales Lose Steam in July | Real Estate Plus+ Daily News | Scoop.it
Total existing-home sales 1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.2 percent to a seasonally adjusted annual rate of 5.39 million in July from 5.57 million in June. For only the second time in the last 21 months 2, sales are now below (1.6 percent) a year ago (5.48 million).
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Helping users easily access content on mobile

Helping users easily access content on mobile | Real Estate Plus+ Daily News | Scoop.it
In Google Search, our goal is to help users quickly find the best answers to their questions, regardless of the device they’re using. Today, we’re announcing two upcoming changes to mobile search results that make finding content easier for users
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Fannie, Freddie revise mortgage app form for first time in 20 years

Fannie, Freddie revise mortgage app form for first time in 20 years | Real Estate Plus+ Daily News | Scoop.it
"Although final implementation of the new loan application is still more than a year away, and the application must still undergo "safe-harbor" review by the Consumer Financial Protection Bureau, we anticipate that publication of the redesigned form now will give the industry ample time to analyze and prepare for its use in 2018,” Watt said.
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Kobe Bryant launches $100M venture capital fund, reveals housing tech investment

Kobe Bryant launches $100M venture capital fund, reveals housing tech investment | Real Estate Plus+ Daily News | Scoop.it
But one name on the list of 13 investments made by Bryant and Stibel so far jumps out to those in housing – HouseCanary, a provider of software and analytics for the real estate industry.
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Black Knight Financial Services' First Look at July Mortgage Data: Delinquencies Continue Seasonal Climb; Prepayments Defy Historically Low Interest Rates, Growing Refinanceable Population

Black Knight Financial Services' First Look at July Mortgage Data: Delinquencies Continue Seasonal Climb; Prepayments Defy Historically Low Interest Rates, Growing Refinanceable Population | Real Estate Plus+ Daily News | Scoop.it
The Data & Analytics division of Black Knight Financial Services, Inc. (BKFS) reports the following "first look" at July 2016 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
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These 2 classic cars made history at Pebble Beach this weekend

These 2 classic cars made history at Pebble Beach this weekend | Real Estate Plus+ Daily News | Scoop.it
Two separate sales records were set at the Pebble Beach auctions this weekend, and they were definitely worth it for these cars.

The very first Shelby Cobra ever made broke the record for the most expensive American car sold at auction Friday, selling for $13.75 million. The previous record was held by a 1968 Ford GT40 race car that sold for $11 million in 2012.
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20 of the most incredible works of Burning Man art ever made

20 of the most incredible works of Burning Man art ever made | Real Estate Plus+ Daily News | Scoop.it
One of the main spectacles at Burning Man are the outlandish, elaborate and zany sculptures, structures and art installations that attendees create there. Many are intentionally destroyed at the end of the festival, since part of Burning Man's mission is to leave no trace, but some have left the desert and are installed in other locations around the world.
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The Midcentury Glamour Of The Jersey Shore (Yes, The Jersey Shore)

The Midcentury Glamour Of The Jersey Shore (Yes, The Jersey Shore) | Real Estate Plus+ Daily News | Scoop.it
To Jersey Shore native Tyler Haughey, these motels, of which there are nearly 150, represent a piece of home—and they also happen to be the largest concentration of postwar resort architecture in the country.
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Scott Higashi succeeds founder Bill Chee as president, CEO of Hawaii real estate firm Locations LLC 

Scott Higashi succeeds founder Bill Chee as president, CEO of Hawaii real estate firm Locations LLC  | Real Estate Plus+ Daily News | Scoop.it
Scott Higashi is the new president and CEO of Locations LLC, succeeding founder Bill Chee as the top executive at one of Hawaii's largest residential real estate firms.
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Five Years into Housing Recovery, Negative Equity Still Affects more than 1 in 10 Homeowners

Five Years into Housing Recovery, Negative Equity Still Affects more than 1 in 10 Homeowners | Real Estate Plus+ Daily News | Scoop.it
But some metros are seeing notable gaps in the share of underwater homeowners between urban and suburban areas. Cleveland and Detroit have the biggest difference between negative equity rates in urban and suburban neighborhoods – 13.6 and 10.8 percentage points, respectively. In these metros, home values in the main urban centers are trailing behind the overall region's recovery, and are still well off from their peak levels.
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Janet Howcroft's curator insight, August 26, 6:36 PM

location is so important

 - August 18
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1.18 Million Housing Starts Projected in 2016

1.18 Million Housing Starts Projected in 2016 | Real Estate Plus+ Daily News | Scoop.it
On Friday morning, Metrostudy released its second quarter 2016 Home Building Outlook, which details housing construction trends nationwide. The Home Building Outlook is the platform for Metrostudy’s national and local forecasts, spotlighting the Top 100 Housing Markets across the United States.
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FHA makes it easier for struggling borrowers to keep their homes

FHA makes it easier for struggling borrowers to keep their homes | Real Estate Plus+ Daily News | Scoop.it
Borrowers with a high loan-to-value ratio mortgage received some welcome news on Thursday morning when the Federal Housing Finance Agency announced that it plans to extend the Home Affordable Refinance Program into 2017 and unveiled a new refinance program that will take HARP’s place once it expires.

These programs apply to borrowers whose loans are owned by Fannie Mae and Freddie Mac, but what about struggling borrowers whose loans are insured by the Federal Housing Administration?
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Janet Howcroft's curator insight, August 26, 6:27 PM

this is good news

 - August 25
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HARP extended into 2017; FHFA plans new refinance program

HARP extended into 2017; FHFA plans new refinance program | Real Estate Plus+ Daily News | Scoop.it
The Federal Housing Finance Agency announced it extended the Home Affordable Refinance Program until Sept. 30, 2017 in order to create a smoother transition period for a new refi product it is planning to launch toward the end of 2017.

According to the FHFA, Fannie Mae and Freddie Mac will implement a new refinance offering aimed at borrowers with high loan-to-value ratios.
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CoreLogic: Mortgage Originations Increased 30% To Nearly $1.8 Trillion In 2015

CoreLogic: Mortgage Originations Increased 30% To Nearly $1.8 Trillion In 2015 | Real Estate Plus+ Daily News | Scoop.it
“Mortgage originations rebounded last year,” writes Molly Boesel, senior economist for CoreLogic, in the report, which shows that refinances increased 29% compared with 2014 (dollar volume increased 44%), while purchases increased 13% (dollar volume increased 18%).
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Calif - July pending home sales and Market Pulse Survey

Calif - July pending home sales and Market Pulse Survey | Real Estate Plus+ Daily News | Scoop.it
Statewide pending home sales rose in July on a seasonally adjusted annualized basis, with the Pending Home Sales Index (PHSI)* increasing 3.5 percent from 118.4 in July 2015 to 122.5 in July 2016, based on signed contracts. Pending sales have been on a rising trend for the
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New home sales post biggest July gain since the housing bust

New home sales post biggest July gain since the housing bust | Real Estate Plus+ Daily News | Scoop.it
According to the latest estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, new home sales in July were at a seasonally adjusted annual rate of 654,000, which is up 31.3% from July 2015. This is also 12.4% above the revised June rate of 582,000.
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Janet Howcroft's curator insight, August 26, 6:30 PM

great article

 - August 23
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Goldman Sachs rolls out online lender for the masses

Goldman Sachs rolls out online lender for the masses | Real Estate Plus+ Daily News | Scoop.it
Goldman Sachs will soon be offering an online lender for the masses, its first step into consumer banking, according to an article by Nathaniel Popper for The New York Times.

The new banking operation will be called Marcus, after the company chose founder Marcus Goldman over his business partner Samuel Sachs, the article states.
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July Home Sales Forecast: Is the Party Over? 

July Home Sales Forecast: Is the Party Over?  | Real Estate Plus+ Daily News | Scoop.it
Thus far, it has been a pretty sweet ‘16 for home sales. But according to our July home sales forecast, the party looks like it could be coming to an end, at least temporarily and especially for sales of existing homes that must eventually face the harsh reality of tight inventory and rising prices.
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China opens highest and longest glass bridge

China opens highest and longest glass bridge | Real Estate Plus+ Daily News | Scoop.it
China just added a bunch of new claims to its planet-beating achievements -- this time its the world's sweatiest palms, the trembliest knees and the most-flipped stomachs.

Oh yes -- and the world's highest and longest glass-bottomed bridge.
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Builder Beware: 30 MSAs Where Vacancy Rates are Rising

Builder Beware: 30 MSAs Where Vacancy Rates are Rising | Real Estate Plus+ Daily News | Scoop.it
According to homeowner vacancy rates from the Census Bureau in 75 major metropolitan statistical areas across the country, the 15 metros below have the highest amount of completed, vacant product on the market in the second quarter of 2016.
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ATTOM Data Solutions Hires Technology Veteran Todd Teta

ATTOM Data Solutions Hires Technology Veteran Todd Teta | Real Estate Plus+ Daily News | Scoop.it
ATTOM Data Solutions, the nation’s leading source for comprehensive property data, today announced the hiring of Todd Teta as chief technology officer. In this role, Teta will leverage his two decades of experience in technology and product innovation to lead ATTOM’s technology and product teams, including ATTOM’s three consumer websites: RealtyTrac.com, Homefacts.com and HomeDisclosure.com.
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August 2016 RE/MAX National Housing Report

August 2016 RE/MAX National Housing Report | Real Estate Plus+ Daily News | Scoop.it
Unlike the month’s temperatures, July home sales cooled off from June’s highest year-to-date level. In the RE/MAX National Housing Report analysis of 53 U.S. cities, July sales fell in 49 markets by 8.8% from July 2015 and by 13.1% from June. Over the last seven years, the average drop in sales from June to July has been 8.2%. The Median Sales Price dropped slightly from June to $225,000, which is still 4.7% higher than one year ago.
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