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Seth's Blog: When to speak up

Seth's Blog: When to speak up | Real Estate Plus+ Daily News | Scoop.it
"This plane is headed to Dallas. If Dallas isn't your destination, this would be a great time to deplane." After a decision is taken and the organization is moving forward, it's fun and easy to be the critic, the rogue...
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Real Estate Plus+ Daily News
Real Estate Related News Plus Miscellaneous Tech Stories and News of Interest
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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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Realtor.com® Expands Industry Relations Team; David Phillips Appointed to Vice President, Industry Relations, National

Realtor.com® Expands Industry Relations Team; David Phillips Appointed to Vice President, Industry Relations, National | Real Estate Plus+ Daily News | Scoop.it
Move, Inc., a subsidiary of News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] and operator of leading online real estate services destination realtor.com®, today announced that David Phillips will join the company this fall as vice president, industry relations, national.
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Mortgage Delinquencies Down 6% in August

Mortgage Delinquencies Down 6% in August | Real Estate Plus+ Daily News | Scoop.it
Among the highlights of the report:
-- Monthly prepayment rate (historically a good indicator of refinance activity) increased by 32% month-over-month.
-- August's prepayment rate of 1.67% is the highest Single Month Mortality (SMM) rate in over three years.
-- Delinquencies fully recovered from July's spike, falling 6% (-135,000) from one month ago.
-- Inventory of loans in foreclosure has now declined for 19 consecutive months and in 51 of the past 52 months.
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Bigger is better: One gigantic vacation rental in each state

Bigger is better: One gigantic vacation rental in each state | Real Estate Plus+ Daily News | Scoop.it
Alabama: This 10-bedroom house in Gulf Shores sleeps 31 and rents for $1,055 a night.
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Former HER Realtors(R) President Michael Mahon Takes Helm at First Team Real Estate

Former HER Realtors(R) President Michael Mahon Takes Helm at First Team Real Estate | Real Estate Plus+ Daily News | Scoop.it
“Michael brings an impressive list of accomplishments to his role as president of First Team Real Estate, in addition to a number of unique characteristics that render him particularly well suited to lead the organization,” states Cameron Merage, First Team’s CEO and founder.
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GSEs to raise conforming loan limits in 2017?

GSEs to raise conforming loan limits in 2017? | Real Estate Plus+ Daily News | Scoop.it
In the second quarter of 2016, the Federal Housing Finance Agency’s house price index was almost identical to the level of the index in the third quarter of 2007, according to the Mortgage Bankers Association.

So why is this so important? Once the HPI reaches pre-crisis levels, Fannie Mae and Freddie Mac can raise the conforming loan limits — the maximum mortgage origination balance the GSEs are permitted to buy. Loans above the limit are known as jumbo loans.
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Homebuilder confidence hits 11-month high

Homebuilder confidence hits 11-month high | Real Estate Plus+ Daily News | Scoop.it
Confidence among U.S. homebuilders rose to an 11-month high in September, indicating the housing market will continue to advance, according to data Monday from the National Association of Home Builders/Wells Fargo.
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Who is the typical Canadian home buyer?

Who is the typical Canadian home buyer? | Real Estate Plus+ Daily News | Scoop.it
Not a day goes by without a new piece of news popping up about the real estate market in Canada. As we’ve been watching home prices hitting record after record in most metropolises across Canada, most of us have probably been asking ourselves where all this is going and how the changes are impacting home buyers and real estate professionals alike.
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The Thumb Zone: Designing For Mobile Users

The Thumb Zone: Designing For Mobile Users | Real Estate Plus+ Daily News | Scoop.it
If there is one thing that will stand the test of time, it’s thumb placement on mobile devices. This makes consideration of the “thumb zone“, a term coined in Steven Hoober’s research, an important factor in the design and development of mobile interfaces.
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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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Yahoo confirms state-sponsored attacker stole personal data of “at least” 500 million users

Yahoo confirms state-sponsored attacker stole personal data of “at least” 500 million users | Real Estate Plus+ Daily News | Scoop.it
As indicated by an earlier report, Yahoo today confirmed it’s working with law enforcement to investigate a data breach which affected the account information of “at least” 500 million users. The company says that the user account information was stolen from its network in late 2014 by what it now believes to be a state-sponsored actor.
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Faux Skylight Mimics the Sun and Clouds

Faux Skylight Mimics the Sun and Clouds | Real Estate Plus+ Daily News | Scoop.it
The company's new Tunable White LED strip lighting brings the beauty of the rising and setting sun into a home, controlled by the turn of a dial. Homeowners can create a wide range of moods within a room at the touch of a button—from bright, cheerful 4K (which mimics full daylight) to warm, cozy 2K (which resembles the warm tones of sunrise and sunset), the firm says. This technology gives consumers total lighting control over their interior environment to achieve a range of lighting scenes, from twilight in the middle of the afternoon to bright midday sun a midnight.
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Zillow sells Diverse Solutions to Market Leader, 5 years after acquiring real estate marketing startup

Zillow sells Diverse Solutions to Market Leader, 5 years after acquiring real estate marketing startup | Real Estate Plus+ Daily News | Scoop.it
Five years after acquiring online real estate marketing startup Diverse Solutions, Zillow Group today sold the company to Market Leader.

Market Leader, a subsidiary of Constellation Software Inc., is a 17-year old company based in Bellevue, Wash. that provides sales and marketing tools to more than 200,000 agents, brokerages, and franchises across the U.S. and Canada. It started in 1999 as HouseValues.
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HER names new chief

HER names new chief | Real Estate Plus+ Daily News | Scoop.it
President Michael Mahon has left the position to become president of the Southern California firm First Team Real Estate.

Mahon, who served as HER president for 18 months, has been replaced by HER Chief Financial Officer Shawn Adams, who will serve as both CFO and president of the Columbus-based firm.
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Want To Try Living In A Different City? Join This Nationwide Community Of House Swaps

Want To Try Living In A Different City? Join This Nationwide Community Of House Swaps | Real Estate Plus+ Daily News | Scoop.it
A new startup is trying to solve the problem by connecting people for home exchanges in a nationwide housing community. If someone gets a job in another city and wants to move, they can move into another member's house without actually having to sell their old place.
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Meet Redfin's Nela Richardson: The Internet’s Truth-Telling Economist

Meet Redfin's Nela Richardson: The Internet’s Truth-Telling Economist | Real Estate Plus+ Daily News | Scoop.it
Richardson is now chief economist at Redfin, an online real estate brokerage and research firm. She leads the company’s efforts to leverage their vast database to inform consumers about the still convalescent housing market.
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Long Realty Closing in on Century in Business

Long Realty Closing in on Century in Business | Real Estate Plus+ Daily News | Scoop.it
Nearly a century ago, Roy H. Long saw the potential of real estate in the dry, warm, southwestern climate of Southern Arizona and in 1926 he started a realty company from his Tucson home.
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