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Cash is King – In the Housing Market

Cash is King – In the Housing Market | Real Estate Plus+ Daily News | Scoop.it

For decades it seemed that 12 to 14 percent of all housing sales were cash transactions involving no loans what-so-ever.  Then along came the housing crash in 2007, and by 2010 investors (those buying a home to rent rather than own) became a significant part of the purchase market.  They were buying homes in many circumstances for almost one-half the cost to build the structure, and the economics of deal was very positive cash flow.

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Real Estate Related News Plus Miscellaneous Tech Stories and News of Interest
Curated by Russ Bergeron
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New home sales are up, but pace disappoints

New home sales are up, but pace disappoints | Real Estate Plus+ Daily News | Scoop.it
New residential single-family home sales increased 3.7% to an annually adjusted rate of 555,000 in January, the report stated. This is up from December’s rate of 535,000 and 5.5% above January 2016’s rate of 526,000.
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Janet Howcroft's curator insight, February 24, 9:07 PM

New residential single-family home sales increased 3.7% to an annually adjusted rate of 555,000 in January, the report stated. This is up from December’s rate of 535,000 and 5.5% above January 2016’s rate of 526,000.

 - Today
 
 
 
 
 
 
 
  
 
 
 
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FCC weakens net neutrality rule in a prelude to larger rollbacks

FCC weakens net neutrality rule in a prelude to larger rollbacks | Real Estate Plus+ Daily News | Scoop.it
An FCC order today reduced the reach of a net neutrality rule requiring broadband providers to share certain data on their services. Originally, providers with less than 100,000 subscribers were exempt; the order raises that number to 250,000 — potentially allowing more companies to escape complying with certain consumer protections.
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Seth's Blog: "Hit the red button"

Seth's Blog: "Hit the red button" | Real Estate Plus+ Daily News | Scoop.it
And if you don't treat your project seriously enough to have a button, if there isn't a culture where you want people to either fix these sorts of problems or get them looked at immediately, why not?
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Fastest Appreciating Housing Markets Are in the South

Fastest Appreciating Housing Markets Are in the South | Real Estate Plus+ Daily News | Scoop.it
Nashville, Portland and Tampa reported the fastest year-over-year home value growth, all appreciating over 10 percent. Orlando, Detroit, Las Vegas and Miami are also among the top 10 fastest appreciating marketsiii, a shift away from California dominance. Home values in Nashville were up 9 percent a year ago, but are now rising at more than 12 percent annually, the fastest among the 40 largest U.S. metros. San Francisco and San Jose were both among the top 10 fastest appreciating housing markets at this time last year, but today are among the slowestiv.
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NAR - Existing-Home Sales Jump in January

NAR - Existing-Home Sales Jump in January | 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, expanded 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from an upwardly revised 5.51 million in December 2016. January's sales pace is 3.8 percent higher than a year ago (5.48 million) and surpasses November 2016 (5.60 million) as the strongest since February 2007 (5.79 million).
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Nationstar Reports Fourth Quarter and Full Year 2016 Financial Results

Nationstar Reports Fourth Quarter and Full Year 2016 Financial Results | Real Estate Plus+ Daily News | Scoop.it
Nationstar Mortgage Holdings Inc. (NSM) today announced that it generated fourth quarter GAAP net income attributable to Nationstar of $198 million, or $2.01 per diluted share driven principally by strong operating results, a favorable mark-to-market ("MTM") adjustment, and decreased amortization of the servicing portfolio.
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Happy Birthday, Phone Book!

Happy Birthday, Phone Book! | Real Estate Plus+ Daily News | Scoop.it
From the Census Bureau comes more fodder for the stuff-that-is-interesting-but-doesn't-really- matter-anymore file. Or something like that. Let your fingers do the walking, uh, clicking through this look back at a trusty companion to one of the most useful communications devices ever invented.
Russ Bergeron's insight:
Big Data
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Algorithms Control Our Lives: Are They Benevolent Rulers Or Evil Dictators?

Algorithms Control Our Lives: Are They Benevolent Rulers Or Evil Dictators? | Real Estate Plus+ Daily News | Scoop.it
Above all, we'll all need greater literacy about the place of algorithms in the modern world, and more ability to affect their ultimate outcomes. "The solution is design. The process should not be a black box into which we feed data and out comes an answer, but a transparent process designed not just to produce a result, but to explain how it came up with that result
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Market Potential Continues Slide in January as Higher Rates Reduce Supply

Market Potential Continues Slide in January as Higher Rates Reduce Supply | Real Estate Plus+ Daily News | Scoop.it

First American Chief Economist Mark Fleming shares his proprietary Potential Home Sales model with analysis of housing market trends in January 2017.
 

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Calif - January home sales and price report

Calif - January home sales and price report | Real Estate Plus+ Daily News | Scoop.it
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 420,100 units in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2017 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
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3 Serious Legal Issues Brokers Are Facing

3 Serious Legal Issues Brokers Are Facing | Real Estate Plus+ Daily News | Scoop.it
There are three hot legal issues affecting real estate companies today that broker-owners need to keep on their radar: website accessibility, copyright infringement, and cyber fraud. During the 2017 REALTOR® Broker Summit in San Diego this week, NAR General Counsel Katie Johnson summarized how brokers are at risk and what they can do about it.
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February 2017 RE/MAX National Housing Report 

February 2017 RE/MAX National Housing Report  | Real Estate Plus+ Daily News | Scoop.it
In the 53 metro areas surveyed, total sales were up 4.5% over January 2016, which was previously the January with the most sales. The Median Sales Price of $208,500 was up 4.3% and marked the 10th consecutive month of year-over-year price increases.
 
The new January low of 66 Days on Market underscores the fact that inventory has declined year-over-year for 99 consecutive months dating back to October 2008.
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NAR, Realtor.com® Identify Growing Rift Between Housing Availability and Affordability

NAR, Realtor.com® Identify Growing Rift Between Housing Availability and Affordability | Real Estate Plus+ Daily News | Scoop.it
Using data on mortgages 1, state-level income 2 and listings on realtor.com®, the Realtors® Affordability Distribution Curve and Score is NAR and realtor.com®'s new ongoing monthly research designed to examine affordability conditions at different income percentiles for all active inventory on the market.
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NNRMLS chooses new CEO, Gene Millman

NNRMLS chooses new CEO, Gene Millman | Real Estate Plus+ Daily News | Scoop.it
being in the real estate brokerage business for 32 years as an agent, Broker/Office manager of large regional companies and also as a Broker/Owner of my own company, affords me the opportunity to have experienced the user side of the MLS.
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John Peyton named president and CEO of Realogy Franchise Group

John Peyton named president and CEO of Realogy Franchise Group | Real Estate Plus+ Daily News | Scoop.it
Realogy Holdings Corp., a residential real estate services company, named a new CEO over its Realogy Franchise Group, promoting John Peyton (pictured below) to the role, effective April 1, 2017. Peyton currently serves as president and chief operating officer for RFG.

Peyton will succeed Alex Perriello, longtime CEO of RFG, who will instead serve in a senior advisory capacity as chairman emeritus for the group.
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BKFS' First Look at January Mortgage Data: Impact of Rising Rates Felt as Prepayments Decline by 30 Percent in January

BKFS' First Look at January Mortgage Data: Impact of Rising Rates Felt as Prepayments Decline by 30 Percent in January | Real Estate Plus+ Daily News | Scoop.it
The Data & Analytics division of Black Knight Financial Services, Inc. (BKFS) reports the following "first look" at January 2017 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
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RE/MAX IT Department Under New Leadership

RE/MAX IT Department Under New Leadership | Real Estate Plus+ Daily News | Scoop.it
RE/MAX, LLC has announced a new Vice President of IT and Digital Business. Carie Zoellner now directs the activities of the IT department, including innovation and strategic planning, data center operations, application development, business systems analysis, records management, data privacy, cybersecurity/compliance and customer support. She also leads the company’s key technology initiatives.
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Illinois home sales, prices head higher in January

Illinois home sales, prices head higher in January | Real Estate Plus+ Daily News | Scoop.it
Statewide home sales (including single-family homes and condominiums) in January 2017 totaled 8,502 homes sold, up 1.2 percent from 8,404 in January 2016.
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Rapid Reaction: January Existing Home Sales

Rapid Reaction: January Existing Home Sales | Real Estate Plus+ Daily News | Scoop.it
With the exception of an unusually harsh and wintry December, existing home sales have now strongly beat expectations in four out of the past five months, as buyers took advantage of slightly better weather and slightly lower mortgage interest rates in January.
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DocuSign Payments Launches Today as the New Way to Sign and Pay

DocuSign Payments Launches Today as the New Way to Sign and Pay | Real Estate Plus+ Daily News | Scoop.it
DocuSign Payments saves time and effort by providing a fast and easy way to collect payments and signatures in just one step. At launch – via the partnership with global payments platform Stripe – users can DocuSign and pay using Android Pay, Apple Pay or any major credit card.
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California Broker-Owned Escrows Need To Submit Activity Reports

California Broker-Owned Escrows Need To Submit Activity Reports | Real Estate Plus+ Daily News | Scoop.it
There is still time left -- but not much -- for affected California brokers to submit their annual Escrow Activity Report to the Bureau of Real Estate (BRE). This applies to firms that operate a "broker-controlled escrow" that engaged in five or more transactions or whose escrow activities exceeded $1 million in the past calendar year.
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Remodeling Index Hits All-Time High

Remodeling Index Hits All-Time High | Real Estate Plus+ Daily News | Scoop.it
Metrostudy, a Hanley Wood company, announced Wednesday that its national RRI Activity Index reaching a new all-time high of 106.1, which also represented a healthy increase of 4.5% from one year earlier. The index has now seen nineteen consecutive quarters of year-over-year gains since 2011
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Android Phone Hacks Could Unlock Millions of Cars

Android Phone Hacks Could Unlock Millions of Cars | Real Estate Plus+ Daily News | Scoop.it
For now, the researchers have declined to name any of the specific apps they tested for fear they’d provide tips to car thieves. But they argue their work should send a message to the car industry in general to take connected car security more seriously.
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Visa and IBM want to make every device you own a cash register

Visa and IBM want to make every device you own a cash register | Real Estate Plus+ Daily News | Scoop.it
IBM’s Watson IoT platform is already used by more than 6,000 clients. The partnership with Visa opens the platform to new makers, who want to integrate payments worldwide without developing their own payments solution.
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Single-Family Starts Increase in January

Single-Family Starts Increase in January | Real Estate Plus+ Daily News | Scoop.it
Single-family housing starts increased to a seasonally adjusted annual rate of 823,000 in January, according to new residential construction data released by the Commerce Department Thursday morning. This month's result marks a 1.9% increase from December's downwardly-revised rate of 808,000, but represents a 6.2% gain compared to January 2016, when the estimate was 775,000.
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Janet Howcroft's curator insight, February 17, 1:32 PM

2017 should be a great real estate market

 - February 16