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ATTOM Data Solutions Acquires Home Junction, Continuing the Company's Data and Application Expansion
Acquired Data Elements Include Proprietary School Attendance Area Boundaries, Neighborhood Boundaries and Additional Datasets; Acquisition Further Solidifies ATTOM's Position as The One-Stop Shop for Comprehensive Property Data IRVINE, Calif. - July 8, 2020 -- ATTOM Data Solutions, curator of the nation's premier property database, today announced it has acquired Home Junction Inc., a real estate data technology company that specializes in building high quality geographic boundary datasets for neighborhoods, school attendance zones, subdivisions and more. "ATTOM's mission is to increase real estate transparency in America, and expanding our geospatial capabilities and datasets is core to that mission," said Rob Barber, CEO at ATTOM Data Solutions. "This acquisition extends ATTOM's data footprint and will enhance our value proposition for our customers, while integrating a talented team from Home Junction to an already talented team at ATTOM. While data elements are important, people elements are even more important. This is an important acquisition because it is an investment in both data and people." The strategic acquisition of Home Junction will expand ATTOM's already robust data warehouse by adding proprietary school and neighborhood boundary data, crime, points of interest and demographics. ATTOM will continue Home Junction's commitment of servicing real estate agents, teams and brokers with a suite of products that include custom websites and data widgets. Click here to view ATTOM's Table of Data Elements "Our focus at Home Junction has always been creating and unifying geospatial property datasets," said John Perkins, CEO and Founder of Home Junction. "By joining forces and having common goals, we are confident that ATTOM will continue to increase efficiencies in the marketplace and continue to be a custom solutions provider for businesses ranging from startup to seasoned enterprise." Founded over 10 years ago, Home Junction's goal is to provide brokers, agents, teams, lenders, insurers and others with the ability to integrate vast amounts of property data into their internal and external web applications. The synergy of the two companies will strengthen ATTOM's competitive positioning in the enterprise data licensing marketplace and the consumer & investor real estate search market. 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, property data 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). About Home Junction Inc. Based in San Diego, CA, Home Junction is a data technology company that specializes in real estate data and boundary licensing, custom websites created with WordPress real estate themes, WordPress real estate plugins and additional services. The company provides an extensive number of data layers on home sales, neighborhoods, schools, school attendance zones, demographics, home value estimates, geospatial boundaries, and other information. The founders have more than 50 years' experience combined in data aggregation and real estate website development.
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Chime Technologies and Dippidi Partner to Help Real Estate Teams Attract and Convert Leads
Integrated solution drives opportunities at every stage of the sales funnel from lead generation to conversion PHOENIX, June 29, 2020 -- Chime Technologies, an award-winning operating system for the real estate industry, today announced a new strategic partnership with Dippidi, a done-for-you content marketing and social media ad agency. By combining Chime's platform with Dippidi's custom marketing strategies, real estate agents, teams, and brokerages can stop spending time chasing leads and attract the business they want. To learn more visit learn.chime.me/dippidi or register for our upcoming webinar on Tuesday, July 7th HERE. As the volatility of the market continues to wreak havoc on the real estate industry, the opportunity for agents and teams to build brand awareness and establish trust among potential buyers has never been more essential. And yet, for many realtors, finding the time and the right suite of tools to do so effectively is a real struggle. "The upheaval in the market has forced many to rethink how they are approaching their business and where they need to invest and prioritize in order to survive," noted Mike McGowan of Chime. "By expanding our partner network with organizations like Dippidi that uniquely understand the demands agents and brokerages are facing today, we can offer clients a one-stop-shop with proven solutions designed to usher in immediate revenue opportunities." Dippidi serves an in-house marketing team for realtors, creating custom marketing plans curated to entice more people and sign more clients. From listing promotions to blog posts, articles to social media campaigns, Dippidi's digital services give agents the confidence to know their marketing services are being handled professionally and consistently. By aligning with Chime to push potential clients further through the sales cycle, agents, teams, and brokerages can streamline their process and drive sales ready leads toward conversion. "I rely on Dippidi to build our awareness in the market and generate great leads – and they have delivered! But our business is not built on leads alone; the ability to convert them into signed contracts is critical. The Chime relationship will allow us to do it all with the industry's top solution," noted Michael Hines of Build Collective in Cincinnati, Ohio. "Our goal is to help our clients build their brand and their business. That includes leveraging the technology and web platforms realtors already have in place to maximize existing investments," said Tyler Auerbacher, co-founder of Dippidi. "We are excited to partner with Chime to offer clients an amazing ‘1-2' punch as we provide the fuel to fill the sales funnel and Chime provides the engine to convert them into leads." To learn more visit, learn.chime.me/dippidi. About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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Delta Media Group Launches SMS Texting in DeltaNET 6
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IXACT Contact Announces New Set of Leading-Edge Agent Website Designs
Toronto, ON, June 26, 2020 -- IXACT Contact has rolled out the release of brand-new website designs for real estate agents. With social distancing regulations in effect, agents can focus more on virtually growing their business and focusing on their online presence, all starting with a personalized website. "During this time, we realize it can be overwhelming for real estate agents to grow their business, while following safety precautions," says Rich Gaasenbeek, CRO and Co-Founder of IXACT Contact. "Having your own branded agent website is one of the best marketing decisions you can make for your real estate business. Our release of fresh and modern website designs will help all agents, whether you are just creating your own website or you have one already, but wish to revive it." With the ever-changing trends in the industry, IXACT Contact's mobile-friendly, new website designs feature modern-style layouts, fonts and colors, carousel banner images, larger agent photos, and MLS listings with optional IDX add-on, featured more prominently right on agents' websites. This extensive list of new features also includes existing personalized aspects of IXACT Contact's agent websites, which include a 16-pages of content that consists of a customizable blog, lead-capture call-outs, and links to agents' social media accounts, for more effective lead capture and agent branding. "The nature of real estate is very competitive," states Gaasenbeek. "As an agent, you always want to make sure you stand out from the rest. What better way to do this than launch your very own agent website to help you build your personal brand? IXACT Contact's new website themes are modern and beautifully designed to sell your brand, position you as an industry leader, and display all the key aspects of what you have to offer. This is a far better alternative to the expensive 'lead-gen' website that some agents may have been paying too much for and hasn't delivered based on what the vendor has promised. Agents cannot afford to waste more money and that is why IXACT Contact is here to help." Agents looking to create their own IXACT Contact-powered website can simply create one within minutes. IXACT Contact's customer support team may also provide assistance for those looking to launch their own customizable IXACT Contact website. It is also a quick and seamless process for agents and brokers with an existing IXACT Contact website, whom are looking to upgrade to one of IXACT Contact's new website themes. Agents will be able to select a new website theme and easily integrate their existing branding, content, and data into a fresh new website. To see IXACT Contact's newest website themes, click here. About IXACT Contact IXACT Contact is a next-generation real estate CRM that gives agents all the tools they need to manage their contact information, keep in touch communications, active business, and online presence. All in a single, easy-to-use solution. Best of all, with its unique marketing automation and "set it and forget it" capabilities, IXACT Contact acts like a personal assistant, helping agents save time, be better organized, keep in touch with past clients, nurture and convert leads into listings, and generate more referrals and repeat business.
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Amidst Health, Safety Concerns, NAR's 2020 REALTORS Conference and Expo Goes Virtual
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Homesnap Launches Access, a New Payment Service Powered by eCommission
BETHESDA, Md., June 22, 2020 -- Homesnap, the market-leading national home search platform that provides a mobile productivity tool for agents and real-time MLS data to consumers, today launched a new payment option for real estate agents called Access™ powered by eCommission, the leading provider of working capital to real estate professionals. Access allows real estate agents to pay for Homesnap products using future commissions as an alternative to cash or a credit card. Real estate agents often need access to cash flow to pay for various products and services prior to a sale closing. Access creates a direct integration between eCommission and Homesnap that empowers agents to pay for Homesnap marketing products and additional offerings using one of their active listings. Access is: Flexible – Agents can access up to $500 of their commission on any property with at least 90 days remaining in the listing term. Easy – Funds are sent directly from Access to Homesnap to cover an agent's marketing investment, with the agent paying nothing upfront. Convenient – Homesnap and eCommission have integrated in order to make the process seamless. Agents can select their listing when buying products and services in Homesnap and complete the process in eCommission without having to fill out any additional fields. Affordable – Ordinarily, there is a 10% fee that is added directly onto a Homesnap order, and that fee is automatically paid when a sale closes. Recognizing the challenges agents are facing today due to COVID-19, Homesnap and eCommission have made Access free for the first 90 days, with no added fees. Homesnap makes it easy for agents to market themselves and their listings across the top social and search platforms like Facebook and Google. With Access, agents can now maintain their marketing presence with flexible payment options. "Now more than ever, it is crucial for real estate agents to maintain their digital presence," said John Mazur, Homesnap CEO. "At Homesnap, we're supporting agents by giving them the tools they need to not only stay relevant, but to also market their listings and be ready for when things return to normal. With Access, agents can leverage the power of their future earned commission today and stay ahead of their competition." To initiate this new feature, agents simply select the listing they would like to use wherever they see Access as a payment method for a Homesnap product. Agents are then redirected to eCommission to confirm transaction details and complete funding. eCommission then sends payment for the products and services purchased directly to Homesnap. If the selected property does not sell within 90 days, agents have the option to replace the transaction and repay using commission proceeds from any future sale. "We are thrilled to launch Access with Homesnap," said Sean Whaling, eCommission Founder and CEO. "We understand the stressors brought on by COVID-19, which is why Access gives agents the ultimate flexibility to pay for Homesnap marketing products and additional offerings using future commissions. It's a revolutionary service that in many ways is superior to credit cards because no debt is created, funds are transferred instantly, and repayment happens effortlessly once the property closes. Waiving the fee for 90 days should also help agents get their listings sold faster." Access will initially be available as a payment option for a selection of Homesnap's marketing products and will soon be available for all of Homesnap's offerings. Homesnap is continuing to roll out new features and tools throughout 2020 that help agents provide better client services and connect with prospects in actionable, tangible ways. For more information visit www.homesnap.com. About Homesnap With easy-to-use mobile technology fueled by unmatched, real-time data intelligence, Homesnap is changing the way real estate agents connect with consumers and serve their clients. Homesnap combines people, property and data with enterprise-grade software for real estate professionals to run and grow their business at every stage of the real estate transaction. The industry-endorsed Homesnap platform leverages AI, machine learning and big data from over 500 data sources and over 230 MLSs to provide more than one million U.S. agents with access to powerful mobile software that automates workflow and optimizes the search and sell experience for their clients. With the Homesnap mobile app, the highest rated consumer home search application; Homesnap Pro, the industry-standard mobile business platform for agents; and the Homesnap national home search portal, a joint venture with the industry-backed Broker Public Portal, the integrated Homesnap platform is transforming the real estate business. More information can be found at www.homesnap.com. About eCommission eCommission is the company that operates Access. eCommission is the leading provider of working capital to real estate professionals since 1999, with more than $1.4 billion of commissions funded to satisfied customers nationwide. eCommission is a nationally endorsed alliance partner to the industry's largest real estate brands, independent brokerages and technology companies. More information can be found at www.eCommission.com.
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High Volume Render Editor Disrupting the Property Development Market
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Kristi Kennelly Joins RateMyAgent
Shared commitment to help real estate agents leverage their hard earned reputation makes this union a perfect fit. SAN DIEGO, June 18, 2020 -- RateMyAgent, an agent review and digital marketing platform for real estate professionals to generate, aggregate, and syndicate client reviews, today announced that Kristi Kennelly has joined the company as a product ambassador. As a key member of the marketing team, Kristi will help agents become product-smart through virtual events, training and a delightful onboarding experience. "When we launched in the U.S., we made a commitment to hire the best in the industry," said Mark Armstrong, co-founder and chief executive officer of RateMyAgent. "Kristi brings showmanship, a strong work ethic and the perfect skill-set needed to ensure we deliver a delightful experience from onboarding to becoming an actively engaged, loyal customer ." A former Broadway performer (she played opposite Matthew Broderick in How to Succeed in Business without Really Trying and Rumpleteazer in CATS), Kristi combines practical real estate marketing knowledge with a dose of humility and entertainment. Instead of flying on the stage as Peter Pan, she will be teaching agents how to help their businesses take flight. She's educated agents nationwide as a professional speaker in online marketing, lead generation, lead conversion, video marketing, social media and how to harness the power of customer reviews. "RateMyAgent delivers the right product at the exact right time," said Kristi Kennelly, product ambassador for RateMyAgent. "I was looking for a team where I could harness my passion and purpose to help real estate agents build their dream businesses by amplifying their reputations. I believe I've found that with this group and am ready to help agents become undisruptable." 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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Live Open Houses Are Now Available on Homesnap for iOS and Android
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Live Video Showings: The Next Best Thing to Being There
ShowingTime LIVE Video is Real Estate’s First All-in-One Showing and Video Platform, Enabling Agents to Bring Buyers into Homes Virtually Using the ShowingTime Mobile App for an Authentic Showing Experience CHICAGO -- June 15, 2020 -- Real estate technology firm ShowingTime, whose systems facilitate more than five million home showings each month across North America, has launched the real estate industry’s first all-in-one live video showing platform within its mobile app to give agents an interactive solution to bring clients into homes: ShowingTime LIVE Video. Integrated with its scheduling platform and currently available to 32,000+ agents in select MLSs with nationwide availability in June, ShowingTime LIVE Video equips agents and their clients to take part in live video showings without needing to download additional apps, providing an authentic showing experience. "Having the tools to set up and host video showings from one common platform makes sense," said Triad MLS Chief Executive Officer Richard Renton. "Our members already use ShowingTime to schedule appointments, so it’s another step forward to equip them with this option. We anticipate they’ll want to take advantage of ShowingTime LIVE Video." Following the introduction of a "virtual showing" option within its showing management products in early April, ShowingTime has seen tens of thousands of showings conducted virtually. The company anticipates that those numbers will increase dramatically with ShowingTime LIVE Video. "Since it first became clear that COVID-19 would have an impact on real estate, we’ve been dedicating as many resources as possible to help agents operate effectively," said ShowingTime President Michael Lane. "Stay-at-home orders are forcing agents to seek out creative ways to show homes to buyers. We developed ShowingTime LIVE Video to make their jobs easier.” Unlike photos or 3D tours, live video showings enable two-way communication so serious buyers can ask questions and see the parts of the home they’re most interested in. Once a video showing appointment is confirmed, the agent visits the listing at the scheduled time and conducts the tour while their client participates from home. “From the same familiar system agents use to schedule showings, they simply tap the 'Join LIVE Video Showing' button in the ShowingTime mobile app to start the appointment for their clients. A live, one-on-one showing experience is as close to an in-person showing as they can get," Lane said. Video showings conducted using ShowingTime LIVE Video offer the same opportunities for engagement on the part of prospective buyers that they’d have with in-person showings, he added. "We’re excited about ShowingTime LIVE Video," said Global MLS Chief Executive Officer Laura Burns. "Making this new tool available to our members will help them continue serving clients as New York State works through the phases of operating and social distancing requirements for real estate services." ShowingTime has rapidly rolled out several product enhancements in response to the COVID-19 pandemic and subsequent shelter-in-place restrictions enacted throughout the U.S. and Canada. Along with the introduction of ShowingTime LIVE Video, the company has been providing daily updates on the impact of COVID-19 on showings – nationwide and in most states/provinces – which can be accessed at showingtime.com/impact-of-coronavirus/. Since late April, showing activity has continued an impressive turnaround after an historic spring collapse, led in part by loosening restrictions and an increasing rate of adoption of technology, with more and more agents conducting showings virtually. Twenty-nine of the 44 states and provinces tracked by ShowingTime’s COVID-19 tracker have exceeded their showing traffic numbers from pre-pandemic peaks in March. 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, as well as recruiting tools for brokers. ShowingTime products are used in more than 370 MLSs representing nearly one million real estate professionals across the U.S. and Canada.
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Realtor.com Launches Weekly Housing Recovery Index
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Homesnap Launches Homesnap Concierge
Homesnap Concierge, a brand-new product from Homesnap, is a fully managed advertising platform and lead qualification service that delivers better leads at a lower cost than Zillow Premier Agent and realtor.com. What makes Concierge different? Highly trafficked sites like Facebook, Google, and Instagram are ideal for generating large volumes of high-quality leads cost-effectively. The problem is, finding and qualifying those leads is a difficult and labor-intensive process. If you've run campaigns on these sites before, you know the frustrations all too well, and you may have turned to expensive alternatives like Zillow Premier Agent and realtor.com to save yourself time and aggravation. Homesnap set out to solve this problem. After more than a year of research and development, our digital marketing experts worked out the best combination of networks, ad types, designs, and content types to serve hyper-targeted and personalized ads to relevant buyers and sellers. The result is a product that gives agents access to more high-quality leads than Zillow and realtor.com without the hassle — or the premium price tag. With Homesnap Concierge, agents no longer have to choose between their time and their money. How does it work? Each month, our dedicated and experienced Concierge marketing team will optimize and run your advertising campaigns for an unlimited number of listings on Facebook, Google, and Instagram. We'll target the most-likely-to-transact leads on those platforms with hyper-targeted and personalized ads and qualify them for you. Then, we'll send you the qualified, hot leads right away, and continue to nurture the rest until they are ready to convert. You'll have full transparency into the process. We'll share key metrics — number of leads processed, lead contact information, qualification details, all leads acquired, and more — so you can follow us every step of the way. Just watch the leads roll in and get back to what's important: working with your clients. Why Concierge? Highly Qualified Leads Concierge collects hundreds of leads and takes care of the hardest part: separating those who are ready to buy or sell from those who need to be nurtured. We'll send you the qualified leads right away, and continue to nurture the rest. No work on your end. Better and Cheaper Results Zillow's Premier Agent runs in at an average cost of $1,200 a month for a one-year, locked-in contract — a nearly $15,000-a-year commitment. Homesnap Concierge starts at a fraction of the monthly price and requires no long-term contract. Agents can commit to Concierge for as short as one month. Promotes Your Brand First Have you advertised on Zillow or realtor.com only to feel like those companies are primarily interested in promoting their brand, not yours? At Homesnap, that will never be the case. We succeed when agents succeed, and all your advertisements will feature you — and only you. Access to a best-in-class lead qualification team, digital marketing experts and machine learning Homesnap's digital marketing experts run thousands of campaigns at any given time, and they are constantly iterating on what works and what does not. Concierge gives agents access to this experienced, best-in-class marketing team, and campaigns are managed by real humans who are experts in the digital advertising space. Additionally, our digital marketing experts are supported by our in-house machine learning algorithms, built upon thousands of real estate industry data points. Using this technology, actual artificial intelligence, we look for signals — signs that a buyer or seller is ready to transact — that a human being might miss. Fully Managed Campaigns for Unlimited Listings Concierge gives agents all the benefits of professionally tested advertising techniques, customization, and automation, so they never have to worry about tedium or timing again — all that's required is a two-minute setup. Co-Market with Lenders By co-marketing with Concierge, agents can strengthen their relationship with a preferred lender and save on advertising costs while doing it. Concierge allows you to split your monthly advertising costs with the lender of your choice. Only lenders an agent co-markets with will be advertised with the agent or listings. Ready to get better leads for less? Give Concierge a try. Or schedule a meeting with our sales team to learn more. To view the original post, visit the Homesnap blog.
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Homes.com Launches New Agent Profile Page
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Key Housing Indicators Begin to Turn Around in May
Data shows new listings and asking price trends strengthen after bottoming out in April SANTA CLARA, Calif., June 4, 2020 -- The U.S. housing market likely reached its low point during mid-April with constrained new inventory and minimal price growth. Signs of recovery emerged in late April and strengthened in May, setting the stage for continued growth over the summer, according to realtor.com®'s May Monthly Housing Trends report issued today. The data show the national median listing price hit a new all-time high of $330,000 in May, despite rising just 1.6 percent year-over-year. This price growth was an improvement over April's 0.6 percent year-over-year growth which was the slowest pace in the past three years. Additionally, the weekly progression of data showed that price growth and new inventory trends improved. The median list price began the month up 1.4 percent and strengthened throughout the month, increasing 3.1 percent during the last week of May. New listings were down 29.1 percent the week ending May 9, but recovered to down 22.9 percent by the week of May 30. While still well-below last year's levels, the rate of decline in newly listed properties has improved dramatically from a drop of 44.1 percent year-over-year in April to down 29.4 percent in May. Despite these positive trends, COVID-related challenges linger; homes were on the market 15 days longer than this time last year. "May's home price data demonstrate the underlying strength of the U.S. housing market despite the challenges brought by the COVID-19 pandemic," said realtor.com® Chief Economist Danielle Hale. "The fact that home prices are at an all-time high shows that the momentum the market had prior to the pandemic has helped to keep buyer and seller expectations stable. Ongoing inventory shortages, that continue to worsen, also push home prices higher even while homes sell more slowly." "As a sense of normalcy returns, we expect to see a shortened, but strong summer home selling season, as long as seller confidence continues to improve and more homes are listed for sale," Hale added. Listing Prices Hit New High Despite COVID-19 Thirty-five of the nation's top 50 metros saw the median listing price grow on a year-over-year basis, up from 30 metros in April. Based on this trend, listing prices could reach new highs throughout the summer home buying season when prices typically see their yearly seasonal peak. Los Angeles-Long Beach-Anaheim, Calif. (+14.9 percent), Pittsburgh, Pa. (+14.0 percent); and Cincinnati, Ohio-Ky.-Ind. (+12.1 percent); posted the highest year-over-year median list price growth in May. The steepest price declines were seen in Detroit-Warren-Dearborn, Mich. (-3.4 percent); San Antonio-New Braunfels, Texas (-3.2 percent); and Seattle-Tacoma-Bellevue, Wash. (-3.1 percent). For-Sale Homes Still in Short Supply, but New Listings Trend Improves National inventory continued to be constrained, down nearly 20 percent over last year, as seller reactions to COVID-19 exaggerated the housing market's already insufficient supply of homes. At the same time, the month of May ended with an improvement in the new listings trend--smaller declines--in 45 of the 50 largest U.S. markets compared to last month. This signals that sellers are starting to return to the marketplace, which is needed to restore inventory levels for healthy market conditions. Within the nation's 50 largest metros, inventory declined by 21.9 percent year-over-year, a greater rate than April's 16 percent decline. The metros which saw the largest declines in inventory were largely those hardest hit by COVID-19 along the East Coast, including: Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (-38.6 percent); Providence-Warwick, R.I.-Mass. (-35.8 percent); and Baltimore-Columbia-Towson, Md. (-34.5 percent). This month, none of the largest 50 metros saw an inventory increase on a year-over-year basis and 43 out of the 50 saw greater yearly inventory declines than last month. COVID-19 Extends Days on Market Homes continue to sell more slowly than last year due to stay at home orders and modified behavior resulting from COVID-19. The typical home is now selling in 71 days, which is more than two weeks slower than last year. Within the nation's 50 largest metros, the typical home sold in 58 days, 13 days more slowly, on average, compared to last year. Among the largest metropolitan areas, homes in areas hit hardest by COVID-19 saw the greatest increase in time spent on the market, including: Buffalo-Cheektowaga-Niagara Falls, N.Y. (+34 days); Pittsburgh, Pa. (+33 days); and Detroit-Warren-Dearborn-Mich. (+32 days). Metros With Largest Decline in New Listings EDITOR'S NOTE: The realtor.com economics team is continually tracking the impact of the coronavirus pandemic on the U.S. economy and housing market. The team's reports and analysis are available here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Homes.com Traffic Trends Point to Emerging Recovery
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SentriLock to Provide Showing Service for REALTORS
SentriKey Showing Service will be the most advanced integrated solution in showing service space. West Chester, Ohio. (June 2, 2020) -- SentriLock, LLC, a leading technology company and provider of property access management solutions to real estate and other industries, will introduce a comprehensive showing service to REALTORS® in late Summer 2020. The optional, premium offering, called SentriKey Showing Service, will provide a smart, effective alternative to services currently available. Real estate professionals will be able to schedule and manage showings, manage their client roster, share listings and market trends with clients, view property details and notifications, open the lockbox, and much more. All functions can be performed using the same easy-to-use mobile app from SentriLock that agents currently use to open lockboxes. "This is a natural extension of what our organization was founded to do – provide effective technology solutions and superb service to members of the National Association of REALTORS® (NAR)," said Scott Fisher, founder and CEO of SentriLock. "We have seen the choice in providers offering showing scheduling service products consolidate to the point that REALTOR® Associations and MLSs have few alternatives to provide their members with a high-quality, competitively priced showing service. SentriKey Showing Service fills that gap and offers features that make doing business easier and give agents more time in their busy schedules. Just as we did very successfully in the lockbox space 18 years ago, we will create strong competition that ensures NAR members get the best value and innovation from their technology providers, while keeping the proceeds from those business activities supporting REALTORS®." SentriLock's Chief Technology Officer, Chuck Shroder, further emphasized why the company is launching the new showing service. "For some time now, we have been asked by our customers to consider adding a showing service that integrates with our lockbox system. As we focus on enhancing REALTOR® productivity, a single, integrated system makes sense. And this direction has also expanded some capabilities of our existing lockbox service that can be leveraged by other third parties to create a great customer experience. So, even if they are not a subscriber to our SentriKey Showing Service, our interoperability allows them to take advantage of added value through the work we've done here." The SentriKey™ Showing Service will be available in late Summer 2020. For more information, visit the company's showing service page at sentrilock.com/showing-service, or contact Devin Beck, Director of Revenue, at [email protected] About SentriLock Founded in 2002, SentriLock LLC is a wholly owned subsidiary of the National Association of REALTORS® (NAR) and its Official Lockbox Solution. The company's primary mission is to provide its members with a lockbox and access management solution that is fully member-focused and driven to provide superior customer service. SentriLock has a 96 percent customer satisfaction rating and is committed to providing the same exceptional support and technology to showing service customers.
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Sixty-Five Percent of Those Who Attended an Open House Within the Last Year Would Do So Now Without Hesitation
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Homesnap Launches Real Estate Websites for Homesnap Pro+ Users
With in-person interactions slowing in the wake of COVID-19, an agent's digital presence is more important than ever. To that end, Homesnap is proud to announce the release of Real Estate Websites, exclusive to Homesnap Pro+ members. Professionally developed, personally branded, and powered by Homesnap Search, Homesnap Pro+ Real Estate Websites enable you to establish a credible, lead-generating online presence in minutes, not weeks. Included as part of your premium Homesnap Pro+ membership, Homesnap Pro+ Real Estate Websites are ready to go live with little more than a click of a button—at a fraction of the cost of traditional website builds. These professionally designed websites include: A simplified, elegant layout that prominently features your preferred web address name and brand across all pages Powerful, lead-generating real estate tools consumers love A built-in search portal powered by Homesnap, featuring the most accurate, real-time data in the industry Best of all, you'll never have to worry about upkeep, maintenance, or outages because Homesnap will handle all of the back-end management for you. Why Homesnap Pro+ Real Estate Websites? Homesnap Pro+ Real Estate Websites offer several advantages over traditional website builds. Cut costs and nothing else Professional website development and ongoing hosting, maintenance and downtime costs can often exceed several thousand dollars. Homesnap Pro+ Real Estate Websites, on the other hand, are included as part of a Homesnap Pro+ membership. You'll get an instant, personalized, and worry-free agent website and access to the Homesnap Pro+ suite of lead generation and business management tools. Homesnap Pro+ features include Google business profile verification, optimization and management; advanced off-market search filters; enhanced agent profiles, Who's Viewed My Listings & Profile; custom lead pages; and more. Powered by accurate, real-time data Homesnap Pro+ Real Estate Websites are the only personal agent websites on the market powered by Homesnap Search. Visitors to your website will be able to search for properties with the same industry-leading consumer portal they use and trust on Homesnap.com. The only difference? Every listing they view will feature you as the sole point of contact. Consumers will be able to message you directly from your website. A lead-generation machine Your Homesnap Pro+ Real Estate Website comes ready-made with powerful home search tools and lead generation forms. Consumers can sign up for newsletters, delivered to their inbox and branded to you, that keep them up to date with the latest listings, transactions, and trends in their chosen zip code(s). Consumers can also take full advantage of Homesnap's Comparative Market Analysis feature, a seller's market analysis tool, that enables them to assess the market value of their home by comparing it to similar properties that have recently listed or sold. Consumers who provide their basic information (name, email address, phone number) can get access to both. There's absolutely no legwork on your end. Just sign up for a Homesnap Pro+ Real Estate Website and watch the leads roll in. Online presence made easy Homesnap Pro+ Real Estate Websites can be linked to your Google Business Profile, also included in your Homesnap Pro+ membership, providing prospective customers a one-stop-shop for discovering your business and getting in touch. Additionally, your website pages, including the newsletter signup and the seller market analysis tool, and listing pages (a Pro+ feature, mentioned above) can be shared on social media platforms. Have an existing website? No problem Homesnap can easily migrate your existing website. You'll keep your domain name (so no need to change your marketing materials) and have a new website up in running within 24 hours. Ready to get started? Claim your website now. To view the original post, visit the Homesnap blog.
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New Virtual Tours on Homes.com
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Unprecedented Turnaround in Home Showing Activity Seen in April and May as Agents, Buyers and Sellers Adjust to Virtual Showings
Showing Traffic Matches Prior-Year Levels in Many Markets According to Latest ShowingTime Data; Tech-Facilitated Showings, Loosening of Stay-at-Home Restrictions Account for Improvements May 21, 2020 - Showing activity continued an impressive turnaround after an historic spring collapse, led in part by loosening restrictions and increased adoption of virtual showing technology, according to data from ShowingTime. In early April, 42 states had issued stay-at-home orders, though by mid-May, the number of states where only essential businesses were permitted to remain open had dropped to 21. The Department of Homeland Security lists real estate as an essential service, though local guidelines take precedence. "The beginning of April marked the absolute bottom of per capita real estate activity since the Great Depression as three-quarters of buyer traffic evaporated, yet that was immediately followed by an unprecedented turnaround," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "We've seen a significant rebound in May as rapidly returning buyer traffic concentrates on the subdued levels of inventory." The data also show that listings that have gone under contract since the onset of the COVID-19 pandemic have required 40 percent fewer showings. "The probability of going under contract for listings coming on the market has been remarkably stable after the first week of April," Cherkasskiy said. "This suggests that buyers who were still trying to see homes in April were, on average, more determined to complete the transaction." The upswing in showing activity correlates with an increasing rate of adoption of technology, with more and more agents conducting showings virtually. Since introducing a "virtual showing" option within its showing management products in early April, ShowingTime has seen tens of thousands of showings conducted exclusively online. ShowingTime also introduced ShowingTime LIVE, an all-in-one showing and video platform that enables agents and their buyers to use ShowingTime's mobile app for live, one-on-one interactive video showings. ShowingTime LIVE is currently available in select markets, and will be available throughout the U.S. and Canada in June. "We're continuing to see great resilience in the industry, which can be attributed to agents' willingness to expand their view of how showings can be conducted," said ShowingTime President Michael Lane. "The data we're seeing indicate an impressive rate of adoption of virtual showings. With the introduction of ShowingTime LIVE, we're able to help agents get buyers into properties in a safe manner." In Michigan, state officials updated their guidance on May 7 and declared real estate an essential business. As a result, the state's showing activity jumped dramatically, recovering to a normal springtime run-rate in just eight days. It could signal how other states will fare following similar actions and loosening of restrictions. As anticipated, Showing Index® data in April revealed flagging activity on a year-over-year basis. Nationally, showing activity dropped 42.1 percent year over year in April, with the Northeast Region's 51.2 percent fall the most significant of all four regions. The Midwest's 41.4 percent year-over-year dip came next, followed by a 36.7 percent decline in activity in the West. The South's 33.6 percent fall in activity rounded out the year-over-year decreases in buyer traffic. 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 five 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, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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HomeActions Rolls Out PowerAgent360 Program to Recognize Best-of-the-Best
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Hopeful Home Shoppers Rev Their Engines at the Starting Line
Realtor.com users saving and sharing more listings; relying on virtual tours to prepare SANTA CLARA, Calif., May 18, 2020 -- Increased activity on realtor.com suggests that home shoppers are gearing up for a later than usual homebuying season. Realtor.com® listing visits, saves and shares are all up significantly since the first wave of shelter-in-place orders took effect on March 16; especially for those listings with virtual tours. Consumer survey data shows virtual tours have become an essential part of the home search process and will likely remain so even after in-person open houses resume across the country. Listing visits, saves and shares up significantly More than 70 percent of realtor.com® users surveyed registered on the site so that they could save homes as a way to track price reductions and make a shortlist of homes to tour post COVID-19. Additionally, since March 16: Listing views for single family homes and condos are up 30 percent; Saved homes are up 76 percent; Shared homes are up 95 percent; and Time spent per unique user is up 14 percent. "Data suggests that home shoppers who had paused their search are now picking it back up, and the spring homebuying season won't be lost, but merely pushed into the summer months," said Danielle Hale, Chief Economist, realtor.com®. "Tools such as virtual tours and Livestream Open Houses are enabling consumers to safely continue their home search while maintaining social distancing guidelines and have proven to be very popular with consumers." Virtual shopping technology is here to stay Since shelter-in-place orders began, the growth rate of visits to listings with virtual tours has been twice as high as those without. User visits were also 29 percent higher for listings featuring virtual tours, with those listings generating increased engagement and greater likelihood of a consumer connecting with an agent about the home. "While many consumers don't see virtual tours as a replacement for in-person viewings, they have emerged as a valuable tool to learn more about a home, see details up close and help narrow down the search. We believe virtual tours will remain an integral part of the home search, even when shoppers feel more comfortable visiting homes in-person again," said Hale. A survey of realtor.com® users found that: Two thirds (64 percent) had taken a virtual tour, and of those, 45 percent prefer listings that offer virtual tours; Sixty five percent of home buyers believe that virtual tours will continue to be a great resource in their home shopping process even after the pandemic; and An additional 8 percent think virtual tours can be a replacement for in-person tours. When asked what they like about virtual tours, top responses include: They help me eliminate homes that aren't for me (52 percent); They help me see the details of a home without having to step inside (43 percent); They help me create a shortlist of homes I want to see in person (38 percent); and They allow me to see more homes more quickly, without having to drive around to open houses (30 percent). Visit realtor.com®'s COVID-19 recovery site for information, resources and tools: https://www.realtor.com/covid-19/recovery About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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 Announces 2020 REACH and REACH Commercial Companies
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Free Lead Generation Bootcamp: Flex Your Real Estate Muscles
Generating leads is one of the most important tasks real estate agents must complete to create a thriving business. Unfortunately, it is also one of the most common reasons real estate agents don't succeed. It doesn't matter how great your marketing or negotiating skills are if you don't have clients to leverage them for. If you're looking for ways to strengthen your lead funnel, this free email bootcamp is for you. In this bootcamp, you'll learn: Where to Find More Real Estate Leads There's more than one way to generate leads. This bootcamp explores a range of lead generation sources you can use to generate new leads, work your current database, and leverage your extended contacts and network to generate leads for your business. How to Generate More Real Estate Leads Knowing where to find leads is just the first step. Once you know where to look, we'll go over the best way to attract those leads so that they will want to reach out to you for help. Convert More Real Estate Leads Once you have a buyer or seller's attention, you have to close the deal. Each lead source has a list of action items so that you can start working on generating leads from that source right away. Some agents have more leads than they know what to do with. Sign up for the free Lead Generation email bootcamp here to become one of them! To view the original post, visit the Homes.com blog.
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Realtor.com Forecasts a Year of Ups and Downs for Housing Market
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Top-ranked US real estate agent Ben Caballero tops $2 billion volume - again
Nearly 4,000 new homes sales in Dallas-Ft. Worth alone last year sets new record DALLAS, TX (May 11, 2019) -- Ben Caballero, a current Guinness World Record title holder and No. 1-ranked real estate agent in the U.S., set a new record for home sales in Dallas-Ft. Worth last year. Caballero sold 3,982 new homes in the Dallas-Ft. Worth market worth more than $1.569 billion in 2019. Caballero broke the previous record, which he set in 2018, when he sold 3,496 new homes in the Dallas-Ft. Worth area worth $1.384 billion. The verified sales data come from the North Texas Real Estate Information Systems, Houston Association of REALTORS, San Antonio Board of REALTORS, and the Austin Board of REALTORS Multiple Listing Services. 2019 marked Caballero's second-biggest sales year overall ever, as he sold 5,778 new homes worth $2.249 billion in the four biggest new home construction markets in Texas. In 2018, Caballero sold a record of 5,793 new homes totaling $2.271 billion in a single year. He is the only real estate agent ever to exceed $2 billion in annual home sales, a feat he has now accomplished twice. Caballero, CEO and owner of HomesUSA.com, was the sole listing agent on every transaction and selling only new homes as he represents 60-plus builders in Houston, Dallas-Ft. Worth, Austin, and San Antonio. "Everything is bigger in Texas," said Caballero, adding "Texas is home to the world's greatest and most resilient housing market and is one of the strongest economies globally. Achieving this record volume in the Dallas-Ft. Worth area I call home gives me enormous satisfaction and pride. I also feel blessed being able to do something every day – helping builders – that I enjoy immeasurably." For nearly a decade, Caballero has been the top-ranked real estate agent by REAL Trends for both total sales and number of transactions. Between 2004 and 2019, Caballero was responsible for 36,827 new home sales totaling $13.141 billion in volume. That volume is higher than the annual Gross Domestic Product of 65 countries, according to the World Bank. To put Caballero's 2019 accomplishments in perspective, he averaged more than 100 new home sales a week or 15 new homes a day, or a pace of nearly two home sales every business hour. Caballero attributes the ability to maintain his massive volume to his HomesUSA.com platform, which he invented and uses to manage property listings on local Multiple Listing Services for his builder clients. Caballero is the only individual real estate agent to surpass the total production of highest ranked real estate teams on REAL Trends "The Thousand" list, as measured by total sales transactions (sides) and total transaction volume. Caballero's record sales in 2018 earned him his second Guinness World Record title. He is the past and current title holder for "Most annual home sales transactions through MLS by an individual sell side real estate agent." About Ben Caballero and HomesUSA.com® Ben Caballero, founder and CEO of HomesUSA.com, holds the current Guinness World Record title for "Most annual home sale transactions through MLS by an individual sell side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $2 billion in residential sales transactions in a single year, a feat first achieved in 2018 and last year. An award-winning innovator and technology pioneer, Ben only sells new homes, working with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Play. An infographic illustrating Ben's sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
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Back At You Launches Instagram Integration
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Chime Unveils New Three-Line Dialer to Expedite Calling Efficiency and Increase Agent Productivity
PHOENIX, May 05, 2020 -- Chime Technologies, an award winning operating system for the real estate industry, today announced a new fully integrated Three Line Dialer tool to expedite calling efficiency and support increased agent productivity. An addition to Chime's existing Call Packages, the new feature allows ISAs, agents and brokerages to quickly dial up to three leads at once making it easier to identify sales ready buyers and sellers and save agents valuable time. By relying on innovative technology from Chime, forward thinking brokerages eliminate the time consuming and mundane task of wading through long lead lists with individual calls, freeing agents to instead focus on revenue-generating activities. To learn more about Chime's sales acceleration platform, please visit HERE. "Time is an agents" most valuable asset. Adding a Triple Line Dialer to Chime's already powerful CRM helps me focus on money making activities like writing contracts and conducing house tours as opposed to tedious hours spent on the phone dialing one by one," said Brett Baker, The Baker Team. "Now, instead of spending nine hours on the phone with a single line dialer, I can spend three hours, call the same amount of people, and still catch my kids little league game in the same afternoon. Priceless!" Today's agents and brokerages often have hundreds of cold or expired leads to contact, requiring several hours per week to call one-by-one with little to no return as the majority of leads don't even answer. The new Three Line Dialer was built to allow for the dialing of up to three different numbers at the same time. As a result, an agent can connect with the one that actually answers to not only work through the lead lists more quickly, but efficiently connect with high quality leads. Unlike competitors, the Three Line Dialer is fully integrated into Chime's AI-powered sales acceleration platform, ensuring call logs are immediately and directly synced to lead profiles in the platform. This results in an up to date CRM that accurately reflects all contact attempts made. In addition, by filtering out fake leads, agents are armed with reliable lead lists to reach high quality buyers and sellers in a relevant and timely manner. With unlimited call minutes and the ability to make up to 2,000 calls per day, the Three Line Dialer tool features several key options including: Questionnaire: Outlines common questions to ask leads; automatically populates lead profile in Chime platform Call Scripts: Templates can be customized to ensure messaging stays consistent and focused Callback Message: Record a personalized callback message to avoid missing the opportunity to connect, should more than one lead answer Automated text message: Customize as follow-up for each individual lead "We make it a priority to connect with agents across the country to intimately understand their day to day challenges and deliver the most valuable platform on the market today," said Mike McGowan, Vice President, Sales, Chime. "Our new Three Line Dialer reflects our commitment to streamlining time consuming processes that plague the real estate industry and empower agents with valuable tools, built on innovative technology, to increase productivity for long term success." About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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New Listings Fall Nearly 45 Percent in April as Coronavirus Keeps Sellers on the Sidelines
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Matterport Brings 3D Capture to the iPhone
Company's patented 3D technology enables users to capture and share 3D spaces for the first time using their iPhone SUNNYVALE, Calif., May 4, 2020 -- Matterport, the industry leader in 3D capture and spatial data, today released Matterport for iPhone, a breakthrough way to create, edit, and share high fidelity 3D digital twins of any physical space. With the Matterport Capture app, iPhone owners now have a fast and easy way to capture a 3D environment; personalize it with embedded notes, links, labels or videos; and share it with a simple click. Visitors can explore the spaces in immersive 3D that is just like being there in person. They can even digitally measure walls, doors, windows or furniture. iPads are also supported by the Matterport Capture app, available today in the Apple App Store. "With billions of square feet captured in more than 80 countries, Matterport has created the standard for 3D capture to digitize the built world. Today marks our first step to empower billions of smartphone users to try Matterport for themselves," RJ Pittman, CEO of Matterport, stated. "Matterport for iPhone introduces the world to our advanced spatial data capture and Cortex AI technologies in an easy-to-use app that enables anyone to capture and share 3D spaces with friends, family or colleagues." Once downloaded, the Matterport Capture app can be used immediately in a number of powerful ways: Real estate agents can scan a property almost as easily as taking photos with their iPhone, to create and publish an accurate 3D digital twin of a property listing Homeowners can share a digital twin of their kitchen to get a quote for a remodel or scan damage to send to their insurance company for a more accurate estimate for repair. iPhone users can freely share their digital twins with friends and colleagues, along with prospective tenants, owners, and more. Interior designers can capture a space and take it with them to make sure furnishings fit. Contractors can efficiently document stages of progression during the construction or renovation process. Property owners can create an immersive virtual tour of their spaces to improve their booking rate on rental sites. Businesses can easily capture a 3D digital twin of their office to help with recruiting, hiring, wayfinding, space planning and building company culture. And anyone can capture and share places that are important to them -- whether it's a special room in their home, a favorite spot they frequent, or an incredible space they experienced on vacation. "We have been hard at work advancing the capability of the Matterport platform to support 3D capture from a range of new digital capture devices over the past two years. Matterport for iPhone marks an important milestone in our capability to create stunning 3D digital twins of any space using the phone in your pocket," said Japjit Tulsi, CTO of Matterport. Matterport for iPhone is powered by Cortex, the company's AI platform and patented deep learning neural network. It analyzes 3D spatial data captured from Matterport's flagship Pro2 camera and a wide variety of third party devices including Lidar cameras, 360 cameras, and now smartphones. With millions of spaces captured, Cortex consistently and accurately creates the 3D digital twin and handles complex tasks -- from 2D to 3D reconstruction, advanced image processing, automatic color correction, object and room labeling, and more. Cortex can even generate professional looking photo galleries and shareable videos from within the digital twin, along with measurements and dimensions of entire spaces; and automatic face blurring for privacy. For more information about Matterport for iPhone, visit https://www.matterport.com About Matterport Matterport is the industry leader in 3D capture and spatial data with a mission to digitize and index the built world, and advance the way people interact with the places they inhabit and explore. Matterport's all-in-one 3D data platform enables anyone to turn a physical space into an immersive digital twin and share it with others to connect and collaborate in 3D. In less than a decade, customers such as Redfin, HH Angus, Sotheby's, Arup and Marriott, have captured billions of square feet of space in over 80 countries. Learn more at matterport.com, browse a gallery of digital twins, or explore a curated global collection of 3D spaces at Destination : Everywhere.
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ProspectsPLUS! Launches New Web-to-Print Direct Marketing System for Real Estate Agents
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BoomTown Expedites Virtual Tools to Help Bolster Real Estate Businesses
Company accelerates to prioritize releasing features that allow clients to provide more virtual services to consumers CHARLESTON, S.C., April 29, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce new website and advertising features to help clients generate more business, virtually, and serve consumers amidst social distancing regulations. The news continues the momentum of the Marketing Central self-serve advertising portal, and recently announced Consumer-Facing Mobile App. The company has prioritized development time to expedite the release of more enhancements that allow clients to run their businesses more virtually. As virtual tours and video chatting have become critical to business normalcy in today's climate, site visitors can now search for properties with virtual tours, filter properties to view all listings with virtual tours available, request a virtual tour via video chat, and "Join a Virtual Open House." These virtual showings are scheduled by the agent, hosted through Facebook or other MLS tools, and the event link is seamlessly integrated into their listings via the MLS. Agents can also highlight their properties with virtual tours in automated e-Alerts that are tailored to their prospects' preferences. "Screen time has skyrocketed. We've seen a 15% increase in "Tour via Video Chat" requests, and from a Facebook perspective, our digital marketing teams have seen a 35% increase in impressions," said Grier Allen, CEO & President of BoomTown. "This means advertising on Facebook is imperative to reaching people where they are, and these new tools allow our clients to quickly create ads that efficiently reach the consumers who are looking for their help. These are timely new tools in their arsenal of CRM and marketing solutions that make it easy to maintain relationships and best serve clients, from anywhere." BoomTown's latest ad builder allows clients to create custom ads for social media that drive traffic to and promote any landing page or post. This means clients can promote a virtual tour of a listing, highlight and quickly share educational content from Keeping Current Matters, and even create ads that allow consumers to request a video chat for more information. About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, San Diego, CA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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Homesnap Introduces 'Coming Soon' Ads for Listings
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Realtor.com Connects Homeowners with Options to Sell Now, Move Later
Realtor.com users can now evaluate EasyKnock options to access their house value while remaining in their home during uncertain times SANTA CLARA, Calif., April 23, 2020 -- The COVID-19 crisis has prompted the need for 9 percent of consumers to unexpectedly move to a new home within the next six months, according to a recent consumer survey from realtor.com. In an effort to provide more flexibility to consumers impacted by the crisis, realtor.com is working with EasyKnock, a provider of "sell now, move later" options which enable consumers to access the value of their home without having to move right away. As part of this solution, realtor.com® users will be able to quickly determine their eligibility for, and likely proceeds from, two EasyKnock programs -- Sell and Stay and MoveAbility. Sell and Stay offers longer term lease options and the opportunity to buy back the home, while MoveAbility is aimed at homeowners who would like to move but haven't found their new home yet. Through the programs, EasyKnock purchases the home for the full appraised value with a combination of cash and an option, and closes on average within 21 days. Homeowners can choose to rent the home back for as long as they'd like. When the time comes, the consumer gives EasyKnock the go-ahead to sell the home on the open market and can receive any additional proceeds when the sale closes. "The COVID-19 crisis has had a profound impact on the job market which may lead some families to make extremely difficult decisions," said Todd Callow, vice president, product management, realtor.com®. "As part of our mission to provide consumers with all of the available information to help make informed decisions, realtor.com® will inform consumers about EasyKnock's options so they can determine if the programs are a good fit for their financial and housing needs." Realtor.com® has launched a dedicated site with information, resources and tools to help consumers navigate these uncertain times. Additionally, realtor.com® has made a series of product updates to help consumers get as much information and detail as possible about a property without physically visiting. This includes more 3D tours, video chats and access to Livestream Open Houses. To learn more, go to https://www.realtor.com/covid-19/ About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Nearly 3 in 4 Realtors This Week Report Sellers Haven't Lowered Listing Prices to Attract Buyers, Suggesting Calmness and No Panic Selling by Homeowners
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Attend an Open House without Leaving Your Couch
Realtor.com is the first home search site to connect consumers with Livestream Open Houses SANTA CLARA, Calif., April 17, 2020 -- Realtor.com today announced the availability of Livestream Open Houses, enabling home shoppers to virtually attend live open houses from the comfort of their own home. As COVID-19 continues to limit social interactions and group gatherings including open houses, realtor.com is working closely with MLSs to enable listing agents to show homes safely while practicing social distancing. Just like traditional open houses, Livestream Open Houses allow listing agents to show home shoppers around the property in real time. Open house attendees will be able to drop in at any time during the open house to hear about the listing and have a look around. Unlike virtual tours, these events are scheduled in advance and broadcasted live so consumers can interact with the agent, ask questions and request to see specific home features up close. "While virtual tours are a great resource for consumers, most home shoppers still want the opportunity to walk through a home with an agent and ask questions in real time," said Ryan Green, vice president, product management, realtor.com®. "Especially during this time of social distancing, realtor.com®'s Livestream Open Houses will give agents the opportunity to showcase their properties, and will allow consumers the ability to still explore a home through a live online experience from the safety of their own homes." A recent consumer survey from realtor.com® and Toluna Insights found that with access to accurate listing data, detailed photos, virtual and live video tours, 24 percent of people (and 29 percent of 18-34 year-olds) would be willing to buy a home without seeing it in person. Further, 21 percent of people agree that COVID-19 has made them more likely to move into a home without stepping foot in it first. At launch, Livestream Open Houses will support a number of video platforms including Google Hangouts, Zoom, join.me and Zoho, with additional platforms to be added over time. Real estate agents can choose which video platform works best for their needs. Livestream Open Houses are now available on realtor.com®'s web and mobile web experiences in available geographic areas. Home shoppers can select the time that works best for their schedule and join via the Open House section of a for sale property listing or by searching for properties with upcoming open houses. Realtor.com® is dedicated to supporting the community and helping to ease the home transaction process as much as possible during COVID-19. To learn more, visit: https://www.realtor.com/covid-19/ About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Agents turn to CRS Data's property data, mapping tools as Coronavirus restrictions tighten
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A Quarter of Realtors This Week Report Homes Coming Under Contract Without Buyers First Visiting the Property
WASHINGTON (April 16, 2020) -- A quarter of Realtors with clients putting contracts on homes this week had at least one do so without physically seeing the property, according to a new survey from the National Association of Realtors. For those clients, the median amount of homes toured -- either virtually or in person -- before putting a contract on a home was just three. NAR's 2019 Profile of Home Buyers and Sellers found buyers typically looked at nine homes before placing a contract on a home. "Expect second-quarter home sales activity to slow down with the broad observance of stay-at-home orders, but sales will pick up when the economy reopens as many potential home buyers and sellers indicate they're still in the market or will be in a couple of months," said NAR Chief Economist Lawrence Yun. "Home prices remain stable as deals continue to happen with the growing use of new technology tools. Remarkably, 10% of Realtors® report the same level or even more business activity now than before the economic lockdown." NAR's latest Economic Pulse Flash Survey – conducted April 12-13, 2020 – asked members about how the coronavirus outbreak has impacted the residential and commercial real estate markets. Several highlights include: A third of Realtors® – 33% – reported no closing delays. For those reporting delays, the top reasons listed included delays in financing, appraisals and home inspections. Residential tenants are facing rent payment issues, but many delayed payment requests are being accommodated. Forty-one percent of property managers reported being able to accommodate tenants who cannot pay rent and about a quarter of individual landlords – 24% – said the same. NAR also today released its 2020 Down Payment Expectations & Hurdles to Home Ownership report, which offers home buyer, consumer, and Realtor® perspectives on down payments and family involvement in the home buying process. Several highlights include: Nearly a quarter of Millennials – 24% – received down payment assistance from a parent or relative. A majority of Realtors® – 65% – said that in the last five years they've had clients receive down payment assistance from a parent or relative. View NAR's 2020 Down Payment Expectations & Hurdles to Home Ownership report here View NAR's Economic Pulse Flash Survey full report here. View NAR's Weekly Housing Market Monitor here 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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ProspectsPLUS! 10X is Officially Here
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U.S. Housing Markets Vulnerable to Coronavirus Impact Clustered in Northeast and Florida
Nearly Half of the 50 Most Vulnerable Counties in New Jersey and Florida; Midwest and West Regions Less At Risk of Housing-Market Challenges IRVINE, Calif. -- April 7, 2020 -- 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 spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic. The report shows that the Northeast has the largest concentration of the most at-risk counties, with clusters in New Jersey and Florida, while the West and Midwest have the smallest. The report reveals that housing markets in 14 of New Jersey's 21 counties are among the 50 most vulnerable in the country to the economic impact of the Coronavirus. The top 50 also include four in New York, three in Connecticut and 10 from Florida, but only one in California, none in other West Coast states and only one in the Southwest. Markets are considered more or less at risk based on the percentage of housing units receiving a foreclosure notice in Q4 2019, the percent of homes underwater (LTV 100 or greater) in Q4 2019, and the percentage of local wages required to pay for major home ownership expenses. Rankings are based on a combination of those three categories in 483 counties around the United States with sufficient data to analyze. Counties were ranked in each category, from lowest to highest, with the overall conclusions based on a combination of the three rankings. See below for the full methodology. "It's too early to tell how much effect the Coronavirus fallout will have on different housing markets around the country. But the impact is likely to be significant from region to region and county to county," said Todd Teta, chief product officer with ATTOM Data Solutions. "What we've done is spotlight areas that appear to be more or less at risk based on several important factors. From that analysis, it looks like the Northeast is more at risk than other areas. As we head into the Spring home buying season, the next few months will reveal how severe the impact will be." High-level findings from the analysis: New Jersey and Florida have 24 of the 50 most vulnerable counties from among the 483 included in the report. The 14 counties in New Jersey include five in the New York City suburban area: Bergen, Essex, Passaic, Middlesex and Union counties. The 10 counties in Florida are concentrated in the northern and central sections of the state, including Flagler, Lake, Clay, Hernando and Osceola counties. New York counties among the top 50 most at risk include Rockland County, in the New York City metropolitan area; Orange County, in the Poughkeepsie metro area; Rensselaer County, in the Albany metro area; and Ulster County, west of Poughkeepsie. Other southern counties that are in the top 50 are spread across Delaware, Maryland, North Carolina, South Carolina, Louisiana and Virginia. Among the counties analyzed, only two in the West and five in the Midwest (all in Illinois) rank among the top 50 most at risk from problems connected to the Coronavirus outbreak. The two western counties are Shasta County, CA, in the Redding metropolitan statistical area and Navajo County, AZ, northeast of Phoenix. The midwestern counties are McHenry County, IL; Kane County, IL; Will County, IL and Lake County, IL, all in the Chicago metro area; and Tazewell County, IL, in the Peoria metro area. Counties in the top 50 with a population of at least 500,000 people include Bergen, Camden, Essex, Middlesex, Ocean, Passaic and Union counties in New Jersey; Lake, Will and Kane counties in Illinois; Delaware County, PA; Prince George's County, MD; and Broward County, FL. Texas has 10 of the 50 least vulnerable counties from among the 483 included in the report, followed by Wisconsin with seven and Colorado with five. The 10 counties in Texas include three in the Dallas-Fort Worth metro area (Dallas, Collin and Tarrant counties) and two in the Midland-Odessa area (Ector and Midland counties). Eighteen of the 50 least at-risk counties have a population of at least 500,000, led by Harris County (Houston), TX; Dallas County, TX; King County (Seattle), WA; Tarrant County (Fort Worth), TX; and Santa Clara County, CA, in the San Jose metro area. Counties where median prices ranging from $160,000 to $300,000 comprise 36 of the top 50 counties most vulnerable to the impact of the Coronavirus. Counties with median home prices below $160,000 or above $300,000 make up 14 of the top 50 most vulnerable to the impact of the Coronavirus. Those with median prices below $160,000 are among the most affordable in the nation to local wage earners, while those where median prices exceed $300,000 have some homes with the highest equity and smallest foreclosure rates. Report methodology The ATTOM Data Solutions Special Coronavirus Market Impact Report is based on ATTOM's fourth-quarter 2019 residential foreclosure and underwater (LTV 100 or more) property reports and first-quarter 2020 home affordability report. Counties with sufficient data to analyze were ranked based on the percentage of properties with a foreclosure filing during the fourth quarter of 2019, the percentage of properties with outstanding mortgage balances that exceeded estimated market values in the fourth quarter of 2019, and the percentage of average local wages need to afford the major expenses of owning a median-priced home in the first quarter of 2020. Ranks then were added up to develop an overall ranking across all three categories. Equal weight was given to each category. Counties with the lowest composite ranks were considered most vulnerable to housing market problems. Those with the highest composite ranks were considered least vulnerable. 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, property data 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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RPR Doubles Its Mailing Labels Capability
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CINC Dynamically Shifts Development, Product, and Service Focus to Address COVID-19 Crisis
MARIETTA, GA., April 6, 2020 -- CINC, the number one lead generation and conversion platform for elite agents and teams, today announced new releases in development, product, and service to address specific needs of clients affected by COVID-19, including enhancements to the full suite of CINC's offering. CINC has focused its efforts on creating tools needed to navigate the now virtual nature of home buying and selling and helping CINC clients better communicate with their consumers. "This is what CINC is all about – facing challenges with optimism," says Alvaro Erize, CEO, CINC. "We see this as an opportunity for our clients to lead the industry through this challenge." He continues, "People are starving for human connection like never before, and agents that have the means and the mindset to supply that connection will be doing a public service AND securing a lot of business through and after this situation. So, this package of features, content, and service we are releasing is meant to provide CINC clients more and better tools they need to establish deeper and more human connections, remotely." Updates Include: Immediately Request a Virtual Meeting: We've modified our "Request a Showing" feature so that a consumer can now immediately request or schedule a virtual meeting via video chat with an agent on both desktop and mobile via Etta, CINC's consumer search app. Schedule Virtual Open Houses: In the CINC properties dashboard, clients will now see a "Virtual Open House" button. Once activated, clients can schedule an open house and include either a pre-recorded video or live video stream. Message to all CINC Site Visitors: All updated CINC sites now include a message to consumers communicating safety and health updates. Updated COVID-19 Email Campaign Content: CINC's communication tools now have pre-built COVID-19 content. CINC clients can now be assured that automatic follow up scripts have been updated to timely, relevant messages addressing the new nature of home-searching and how these CINC product updates can fulfill the consumers' needs. Expanded Service Hours & Free Live Training: Service hours are extended to 8pm ET. In addition, CINC's live training team is now running virtual training sessions four days a week – free for all CINC clients to attend. "At CINC, the client always comes first," says Nate Jones , VP of Tech, CINC. "We are constantly innovating to meet their needs and the needs of the market — these updates are no different. It was important for our tech team to pivot quickly to complete these projects. A lot of late nights went into creating relevant content and updating current CINC features into something useful for the agent in today's virtual real estate environment, but that's what's most important to us, being a team our clients can rely on." CINC is committed to the health, safety, and success of its clients, partners, and employees. As public and global public health authority recommendations and specific housing market conditions and regulations evolve in this crisis, CINC will continue to adapt to the needs of its community.
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LionDesk Chooses Constellation1 to Provide IDX Data Services
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NAR Offers Members TeleHealth to Realtors at No Cost in Response to COVID-19 Crisis
CHICAGO (April 1, 2020) -- The National Association of Realtors announced Wednesday that it will be expanding access to Members TeleHealth at no cost to its members for those who register before April 15. The program comes as part of NAR's larger "Right Tools, Right Now" initiative -- relaunched on March 27 -- which is making numerous valuable resources available to the association's 1.4 million members at reduced or no cost. "While the nation continues to grapple with the COVID-19 crisis, we are doing everything we can to ensure our members and their families can stay safe, healthy and secure," said NAR CEO Bob Goldberg. "After launching 'Right Tools, Right Now' last week, we promised to closely monitor the effects of this pandemic and update the initiative as needed. I'm pleased to announce today the addition of Members TeleHealth, a long-term REALTOR Benefits® partner offering, to the RTRN toolkit." Members TeleHealth provides around-the-clock access to non-emergency healthcare from more than 2,300 board-certified U.S. physicians. Common issues addressed through telemedicine include allergies, asthma, rashes, joint aches, flu and nausea, among others. Beginning today, NAR is funding two months of services for members who currently lack access to telemedicine and enroll in this program by April 15. Recognizing that the opportunity will likely draw significant interest from its members, NAR has also negotiated a discounted rate for those who wish to retain coverage following the two-month, no-cost period. "As we continue to solicit input from our members regarding COVID-19's impact on their lives and businesses, NAR is grateful to be able to offer expanded access to potentially lifesaving telemedicine services," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "Medical professionals are urging Americans who are sick to stay home, and telemedicine is playing a critical role protecting our communities and our health care workers. We continue to encourage members to limit their exposure and decrease the chance of spreading illnesses to others." Through RTRN, which was initially launched during the financial crisis in 2009, Realtors® can also access webinars with tips for managing finances in uncertain times; educational resources to build or hone professional skills; and a free copy of the widely-used Profile of Home Buyers and Sellers, among other business-critical resources. 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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March Housing Trends Provide First Glimpse of COVID-19 Impact on U.S. Housing Market
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JP & Associates Realtors Partners with Matterport to Make 3D Virtual Tours Available to 2,500 Agents
New Partnership Enables Streamlined Scanning Solutions and Suite of Features for Showcasing Properties FRISCO, Texas / SUNNYVALE, Calif. -- March 31, 2020 -- Matterport, the market leader for spatial data capture, and JP & Associates REALTORS (JPAR), one of the top 50 real estate brokerages in the US, today announced a partnership that empowers JPAR's agents to offer a Matterport 3D virtual tour. Matterport is making it simple for them to schedule a local scan service professional to capture a property in 3D and create a striking digital twin that clients can virtually walk through. In addition, Matterport's all-in-one platform automatically generates and simultaneously delivers high-resolution photos of the property, video assets and floor plans – everything JPAR agents need to immediately market properties. "We are always looking for new ways to serve our clients and agents – even more so in times of crisis,” said JP Piccinini, founder and CEO of JPAR. "By offering Matterport 3D virtual tours, our agents are armed with the very best solution to increase engagement with listings and help clients sell their homes as quickly as possible.” Founded in 2011, JPAR was born out of a simple concept: supply real estate agents with everything they could possibly want or need in a brokerage. A top agent himself, Piccinini laid the foundation of this leading real estate brokerage based upon two critical components: productivity and service. In just eight years, the company has grown to more than 2,500 agents and has sold more than 40 franchises. "We're proud to offer JPAR agents a turnkey solution that turns every listing into a 24/7 open house, especially now during this time of social distancing,” said Richard McDonald, senior director of real estate strategy at Matterport. "Matterport is excited to connect JPAR agents with our professional network to create the most immersive 3D property walkthroughs for their clients to explore from anywhere, at any time.” Matterport digital twins have also proven to help agents win more listings, sell properties faster and earn higher commissions. An independent study commissioned by Matterport showed that properties with 3D tours closed 31% faster and sold for up to 9% higher. Over 90% of the listings used Matterport 3D tours. About JP & Associates REALTORS® JPAR is one of the top 50 real estate brokerages. A full-service transaction fee-based real estate brokerage, it has been recognized as one of the fastest growing brokerages in the country by REAL TRENDS. JPAR has been honored by Inman Real Estate News, Inman Connect and is a back-to-back INC5000 nominee. It operates multiple offices across Texas, Louisiana, South Carolina, North Carolina, Georgia, Arizona, New Mexico, and Florida and offers franchising opportunities for entrepreneurial real estate professionals. To learn more about becoming an agent or franchising with JP & Associates REALTORS®, visit www.jpar.com. About Matterport Matterport is the leading spatial data company digitizing and indexing the built world. Its unique 3D capture technology creates the spatial data layer on which the industry can interoperate, and the company's all-in-one 3D data platform makes it fast and easy to turn any physical space into an accurate and immersive digital twin. The Matterport platform helps customers realize the full potential of a space at every stage of its lifecycle including planning, construction, appraisal, marketing and operations. Learn more at matterport.com and browse our gallery of digital twins.
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Redfin Reports How U.S. Cities Will Fare in the Coronavirus Recession
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NAR Relaunches 'Right Tools, Right Now' to Help Realtors Face Coronavirus's Impacts
Program from 2009-10 being revived to offer resources and guidance to NAR members during COVID-19 crisis CHICAGO (March 27, 2020) -- The National Association of Realtors announced the return of its 'Right Tools, Right Now' program, which will make numerous business-critical resources immediately available to all of the association's 1.4 million members at reduced or no cost. Originating in response to the financial crisis, nearly one million Realtors® accessed $54 million worth of similar NAR products and services between March 2009 and December 2010. In light of the circumstances surrounding the COVID-19 pandemic, NAR is re-engaging the program in an effort to support its members through trying times. "The well-being of our members, their families and their businesses is of paramount importance to NAR's Leadership Team, myself and our staff," said NAR CEO Bob Goldberg, who also issued a corresponding video announcement to NAR members. "Effective immediately, I would like to announce that NAR is re-launching the Right Tools, Right Now program for all members – agents and brokers. This initiative, which was activated in 2009 in another time of unique need, will make new and existing NAR products and services immediately available to Realtors® at reduced or no cost. I want NAR members to know we will continue fighting so every Realtor® has the tools and information they need to emerge from this crisis stronger and more prepared for their future." Among the resources now widely available, members can access webinars with tips for managing finances in uncertain times; educational resources to build or hone professional skills; and a free copy of the widely used Profile of Home Buyers and Sellers. "Over the past two weeks, we have seen the direct and often significant impact this crisis has had on our members," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "With that uncertainty hanging over all of our heads, NAR is striving to present solutions that will bring Realtors® relief and allow them to continue living their lives and conducting business with as much normalcy as possible." Visit this link to view a full collection of the programs and resources available to members through RTRN. The page will be updated regularly. In addition, NAR is offering evolving guidance to help its 1.4 million members navigate the coronavirus crisis. 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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Happy Grasshopper Announces Free Content for Every REALTOR
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NAR Survey Finds Nearly Half of Realtors Say Home Buyer Interest Has Decreased Due to the Coronavirus Outbreak
WASHINGTON (March 19, 2020) -- Nearly half of Realtors -- 48% -- said home buyer interest has decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors. That percentage tripled from a week ago when it stood at 16%. Almost seven in 10 Realtors -- 69% -- said there's no change in the number of homes on the market due to the coronavirus outbreak, down from 87% a week ago. "The decline in confidence related to the direction of the economy coupled with the unprecedented measures taken to combat the spread of COVID-19, including major social distancing efforts nationwide, are naturally bringing an abundance of caution among buyers and sellers," said NAR Chief Economist Lawrence Yun. "With fewer listings in what's already a housing shortage environment, home prices are likely to hold steady. The temporary softening of the real estate market will likely be followed by a strong rebound once the economic 'quarantine' is lifted, and it's critical that supply is sufficient to meet pent-up demand." NAR's latest Economic Pulse Flash Survey – conducted March 16-17, 2020 – asked members questions about how the coronavirus outbreak, including the significant declines in stock market values and mortgage interest rates, has impacted home buyer and seller interest and behavior as well as new commercial clients who want to lease and purchase property. With respect to the coronavirus, several highlights of the member survey include: 45% of members said the stock market correction and lower mortgage rates roughly balanced out, noting no significant change in buyer behavior. The majority of members, 61%, reported no change in sellers removing homes from the market, down from 81% a week ago. Four in 10 members said home sellers have not changed how their home is viewed while it remains on the market. One week ago, nearly eight in 10 members – 77% – said the same. More than half of commercial members, 54%, have seen a decline in leasing clients, up from 18% of commercial members last week. Eighty-three percent of commercial buildings have changed practices, with the most common being offering more hand sanitizer, more frequent building cleanings, and increasing numbers of tenants working remotely. View NAR's Economic Pulse Flash Survey full report here. 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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Showing Activity Down 38-45 Percent in Past Two Weeks Due to COVID-19
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NAR to Deliver Virtual Solutions for 2020 Realtors Legislative Meetings & Trade Expo
WASHINGTON (March 18, 2020) -- Due to recent restrictions and recommendations implemented by the federal and Washington, D.C. governments, the National Association of Realtors announced Wednesday that it will deliver previously-planned programming and committee meetings virtually. With the Centers for Disease Control issuing guidance limiting discretionary travel and large gatherings, and the city of Washington, D.C. instituting a state of emergency to limit the spread of COVID-19, we will no longer hold the 2020 REALTORS® Legislative Meetings and Trade Expo in person from May 11-16 in Washington, D.C. The nation's largest trade association also announced Wednesday that it will use the time from now until July 1 as a reset to implement new virtual opportunities for member participation within all of its meetings and events. In addition, NAR noted it will be "putting members first" by focusing on enhancing and increasing member offerings that will directly help America's 1.4 million Realtors® navigate the coronavirus' unprecedented impact on members' personal lives and businesses. NAR will provide virtual options to ensure the full governance of its organization can continue while designing a true virtual meeting and convention in place of the RLMTE. The virtual experience will include, among other components: Committee Meetings Key Sessions Elections Coordination to secure alternate avenues for participation for state and local associations Payment and Refunds Registration: The majority of registrations required no fee and will be cancelled. Individuals who paid for the meetings, expo, pre-conference courses or special events will be automatically refunded in full. Hotel: Those who reserved a hotel through NAR will have registration automatically cancelled; no deposits have been processed. Airfare: Please contact your air carrier as soon as possible and seek a refund or credit. NAR looks forward to bringing members and participants together with engaging technology. Details on virtual meetings and dates will be forthcoming. 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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Exclusive Podcast Interview with NAR Chief Economist on Coronavirus Impact
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Email marketing generated $42 for every $1 spent in 2019
Latest ActivePipe report shows email marketing generates best ROI for real estate agents Austin, TX. - Mar. 18 - ActivePipe, the leading email marketing solution for real estate companies, released today a new report titled Digital Marketing in Real Estate: A Guide to Better ROI. The report outlines various digital marketing strategies to show how and where real estate agents should be investing to see the highest ROI. The report investigates the ROI for pay-per-click advertising, social media marketing, and email marketing. Data revealed in Digital Marketing in Real Estate: A Guide to Better ROI shows how real estate agents can maximize their marketing budgets through planned, targeted campaigns. Further, it shows how to capture and nurture leads that turn into clients using the CRM as a map for tracking the client from open house to closed sale. "ActivePipe takes considerable interest in the time real estate professionals spend on digital marketing. Time is money, and for agents, time is very valuable. Our email marketing platform is very intuitive and user-friendly, which is why we continue to see such fast adoption rates with brokerages," said Mike Feller, chief revenue officer of ActivePipe. "Email continues to prove to be the most profitable marketing investment for real estate agents, and this report outlines not just the benefits of using ActivePipe, but a strong assessment of the digital marketing landscape, as well." Digital Marketing in Real Estate outlines two common forms of real estate marketing currently being used by the majority of agents; Interruption and permission marketing. Permission marketing is as simple as it sounds: Marketing to an audience that has granted permission to marketed to (i.e. social media followers, contacts who have opted in newsletters, or emails from open houses.) A common example of interruption marketing is paid advertising - capturing the attention of the audience through advertising, AdWords, placements, etc. The report also finds how top performers win more than twice the number of listings that go to market compared to average performers because they do three things just a little bit better: contact 100 percent of their leads (not just most of them), contact leads in a shorter time, which both lead to a higher rate of closed transaction sides. About ActivePipe ActivePipe helps real estate agents to know which prospects to call next, based on their behaviour with your content. Cut through the noise and make easier calls by focusing on the topics your prospects are engaging with. It allows you to get your marketing done in minutes with a smooth, drag and drop email builder and pre-built customer journeys to set your business up for optimal conversions. Help your team get back to basics and never miss an opportunity.
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Buying, Selling or Just Curious: Realtor.com Helps You Determine What a Home is Worth
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ATTOM Data Solutions Launches Building Permit Data Spanning Over 200 Million Permits Nationwide
New Building Permit Data Expands ATTOM's Multi-Sourced Data Platform; Covering 94 Percent of the Nation's Largest Population Centers with Historical Insight & Detailed Classifications IRVINE, Calif. - March 9, 2020 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today announced the launch of its Building Permit data solution. With over 200 million residential and commercial building permits nationwide, ATTOM now offers the industry's most complete and robust building permit data. "Building permit data is an essential component that gives valuable details about a property, and we're pleased to add another data element to our ATTOM Data Warehouse," said Rob Barber CEO at ATTOM Data Solutions. "ATTOM's mission is to power innovation with premium property data and analytics, and in order to do so we must continue to increase real estate transparency with comprehensive data that offers critical insight into the evolving marketplace." ATTOM's building permit data provides users with critical insight into the life of a property, both residential and commercial, allowing for enhanced predictive analytics and decision-making. With monthly-updated historical insight, covering 94 percent of the nation's top cities, ATTOM's permit data offers a competitive edge. Whether assessing risk/insurability, appraising, understanding total cost of ownership or identifying potential home sale activity based on permitted projects, ATTOM's building permit data delivers a complete view that impacts your bottom line. "Building permits identify key events in a property's history," adds Sean Mooney, VP of Product Management. "Knowing the types of construction or remodeling projects that have occurred on a property – as well as the cost and completion dates of that work – really empowers anyone who is assessing risk or providing valuation services to make more informed decisions." ATTOM's Building Permit data includes: 30+ Permit Classifiers, including Solar Installation Foundations Roofing Permit Status Cost of Job Description of Job Contractor Information And more Click here to register for our free webinar 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, property data 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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It's Oh, So Quiet!
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Seamless Search-to-Social with Market Reach
Realtor.com helps professionals grow and cultivate leads as spring home buying season begins SANTA CLARA, Calif., March 2, 2020 -- Cutting through the clutter of digital home search just got a bit easier for agents and brokers across the country with Market Reach, a new lead generation and brand marketing solution from realtor.com. As home shoppers consider their next move, the home search is often top-of-mind. Even when they're not actively searching for listings online, chances are they're thinking about the process. Market Reach applies behavioral insights from searches on realtor.com® to help real estate professionals reach these buyers on Facebook and Instagram. "It takes a lot these days to make a connection that counts, and many of us connect on social media," said Deepak Thakral, realtor.com® SVP, Product. "While many agents and brokers spend money on social engagement, these platforms are constantly changing their ad parameters. Market Reach helps agents and brokers stay on top of best practices for digital marketing, targeting home shoppers more effectively on these social platforms." Billions of people use Facebook and Instagram every month, but not all of those users are shopping for or selling a home. Market Reach applies realtor.com® user data to help target people who are actively searching online on realtor.com® with listing and branding ads on Facebook and Instagram that are relevant to their recent search activity. Market Reach also helps listing agents demonstrate value for their home seller clients by increasing exposure to clients' properties through social media ads. Professionals can take advantage of features that include: Listing walkthrough video ad: Dynamically generated in real time, the video automatically pulls in data from the listing description, plus photos and animated 3D graphics, and branding for the listing agent and the brokerage that agent represents. Community video ad: Dynamically generated, this video highlights school data, population demographics, entertainment options, and nearby things to do. Spotlight ad: Personal branding templates to showcase local expertise. Auto-rotation of ads: Exposure for multiple listings. Demonstrates expertise, success, and credibility in the local market. Agents and brokers can showcase for-sale and sold properties; they can promote for-sale homes via listing walk-through videos. Market Reach is available to all agents and brokers, and all Market Reach customers receive the leads generated from their ads on Facebook and Instagram. "Realtor.com® helps agents and brokers compete in a rapidly changing marketplace. It's what sets us apart from many of our competitors," said Thakral. "Market Reach is the latest in a succession of products and features we're developing to make buying, selling and living in homes easier and more rewarding for everyone – consumers and real estate professionals alike." About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Homes.com Local Connect Advertising: Smarter than Ever
Homes.com first introduced Local Connect as an impression-based advertising program designed to connect transaction ready buyers and sellers with local real estate agents. Today, we're introducing some important upgrades to make Local Connect an even better investment for real estate professionals. As in the past, Local Connect agents can still get leads from property inquiry forms on the listing detail pages of homes for sale and home value pages in their zip codes. Buyers and sellers can also reach Local Connect agents directly by calling the Direct Connect phone number displayed for the Local Connect agents on those pages. The New Local Connect Look The property inquiry form on for sale listings and home value pages has been redesigned to encourage more lead submissions, which, when paired with more intelligent lead routing rules will ensure you get the best value from your subscription. In addition to making the lead submission form more attractive and user-friendly, we've added a new "Local Experts" area to the listing detail page. This section displays up to three Local Connect agents based on number of impressions purchased in that market. In this area, we will display your name, profile picture, Direct Connect phone number, Homes.com badge (e.g. Preferred or Rapid Responder), and a link to your Homes.com profile. How Do Local Connect Leads Work? Property Inquiry Forms – When a buyer requests information on a listing via a property inquiry form, that contact will be routed to up to 3 Local Connect advertisers and the listing agent. Inquiries submitted via a property inquiry form on home value properties will routed to no more than 3 Local Connect advertisers. Phone Calls – When a visitor calls the Direct Connect phone number listed on the property inquiry form, that call will be routed exclusively to the Local Connect advertiser whose number is currently displayed. Buyers and sellers can choose to call any of the displayed Local Connect advertisers directly using the Direct Connect phone number listed for that advertiser in the Local Experts panel. What is the Direct Connect Phone Number? Local Connect customers have always received a call tracking number on Homes.com. This number will now be even more prominent with placement on the enhanced property inquiry form. How often your Direct Connect phone number is displayed on the property inquiry form will be based on share of impressions purchased and round robin rules. Consumers dialing the Direct Connect number will be connected directly with the Local Connect agent, or in the case of advertisers who also use Homes.com's Lead Concierge service, will be routed to our team to be screened on behalf of the Local Connect advertiser. If you have additional questions about your Local Connect upgrades, let us know! You can reach customer service at (866) 774-2947 or by email at [email protected] If you're interested in taking advantage of Homes.com zip code advertising, you can learn more about how we can help you reach local buyers and sellers here! To view the original post, visit the Homes.com blog.
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Housing Shortage Leads to Intense Competition Among Homebuyers
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Second Century Ventures Continues Global Expansion of REACH Accelerator
CHICAGO (February 24, 2020) - Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced Monday plans to expand the REACH Accelerator program to Canada. The award-winning REACH accelerator aims to recruit and accelerate the most promising new technologies in the real estate industry and nurture their success around the world. Canada's long history as a birthplace of widely adopted real estate technologies across North America, its proximity to the U.S., similarity of market structure and relatively low cost of development make it ideally suited as the next region for expansion. "With over 130,000 REALTORS® and a number of shared interests within the Canadian and U.S. real estate markets, it was only natural for NAR's REACH accelerator program to expand into Canada," said Bob Goldberg, CEO of the National Association of Realtors®, and President of Second Century Ventures. "We are excited to be able to add to the list of impressive companies that have graduated from the program, and we're eager to discover the mark they will leave on real estate throughout North America." REACH Canada will be led by Lynette Keyowski, veteran real estate executive and avid proponent for innovation in the real estate industry. "I am thrilled to be joining the global REACH family under the exceptional leadership at Second Century Ventures. Building on the expertise and proven track record of the REACH Accelerator in the U.S. and now Australia, Canadian proptech companies will have an unprecedented opportunity to accelerate their growth and capitalize on the rapid revolution of the global proptech landscape, in close conjunction with the REALTOR® community," Keyowski said. "Based in Toronto, Calgary and Vancouver, the REACH Canada team is eager to open applications in late May." Canada represents the second region of global expansion for the award-winning REACH program, which launched the first REACH® Australia class in December 2019. "We are thrilled to continue expansion of the REACH program and have immense confidence in Lynette's leadership in the Canadian real estate marketplace and beyond," said Dave Garland, Managing Partner of Second Century Ventures. "On the heels of growth in the Commercial marketplace with REACH Commercial, and with the debut of REACH Australia, our continued expansion to Canada furthers our mission to increase the depth of our global network of industry professionals, strategic partners, investors, mentors and innovators responsible for delivering rapid and transformative change in all sectors of real estate." Applications for REACH Canada will open in late May. For more information or to sign up to be notified when applications open, visit www.narreach.com. About REACH REACH is a unique real estate technology accelerator created by Second Century Ventures, a strategic technology investment fund backed by the National Association of Realtors®, which leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH Accelerator program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. 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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2020 Home Showing Traffic Begins Where 2019 Left Off with Sixth Consecutive Month of Nationwide Year-Over-Year Improvement
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NAR Announces New Cyber Liability Insurance Program for Realtors
CHICAGO (February 20, 2020) -- The National Association of Realtors this morning announced a partnership with CyberPolicy to deliver a new cyber liability insurance program designed to meet the unique needs of real estate professionals. As NAR continues to combat the escalating threat of fraud in the real estate industry by offering educational and preventative resources to members, the partnership will help Realtor®-owned brokerages efficiently compare, quote and purchase quality cyber insurance plans from a select group of carriers who understand the unique needs of real estate professionals and offer exclusive NAR member benefits. "Cyber security threats are fast-growing in the U.S.," said NAR CEO Bob Goldberg. "And while some progress has been made to increase awareness and prevention efforts, it's clear that there is more our members must understand to avoid these situations and to be prepared if an attack occurs. CyberPolicy will provide access to a key piece of that puzzle through a specialized program created specifically for our members." Determining which type of insurance is needed to protect businesses in the event of an online attack has also proven difficult for brokers and professionals across other industries. "The real estate industry remains highly vulnerable to cybercrime, but determining what type of protection and insurance you need to best defend your business in the event of an attack can be a challenge," said Keith Moore, CEO and Founder of CyberPolicy. "We're thrilled to partner with NAR to offer a tailor-made solution for Realtors® that provides the cyber liability insurance needed to meet their needs." According to FBI data, about 11,300 people were victims of wire fraud in the real estate and rental sector in 2018, totaling more than $150 million in losses nationwide. The FBI expects more than six trillion dollars in cybercrimes to be committed globally by 2021. Every weekday in the United States, five thousand phishing emails are sent out from more than 115 countries around the world. Through this partnership, CyberPolicy will begin delivering customized plan options to help Realtors® quickly restore operations after a cyberattack or fraud occurs, as insurers work with them to recoup losses and legal costs, recover stolen data and preserve professional reputations. While NAR encourages brokers to continue educating agents about ways to reduce risk and exposure, the nation's largest trade association contends that cyber liability insurance offers another critical layer of protection. Visit nar.realtor/cyberpolicy to learn more about this program, available exclusively through NAR's REALTOR Benefits® Program. 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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Missing: For Sale Signs Across West, Midwest and Northeast Markets
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Rental Beast Partners with Homes.com to Simplify the Rental Application
Homes.com and Rental Beast offer renters and landlords a fast and secure online rental application. SOMERVILLE, MA, February 18th 2020 -- Real estate tech provider Rental Beast has partnered with leading real estate portal Homes.com to offer renters and listing agents direct access to Rental Beast's online rental application engine, Apply Now. Apply Now is a comprehensive tool that streamlines the rental application process. To submit an application, renters can click on the "Apply Now" button next to their chosen rental listing on Homes.com and are guided through an easy-to-navigate application. Once the application is submitted, credit data and supporting information are securely gathered, and automated emails give renters, landlords, and real estate agents real-time updates. Fully FCRA-compliant, Apply Now gives listing agents and property owners fast and secure access to an applicant's credit information, eviction history and background information, where applicable, to guide their decisions. "Apply Now has enjoyed tremendous success on the Rental Beast platform," said Ishay Grinberg, founder and CEO of Rental Beast. "It has effectively decreased the amount of time it takes to process applications, provided listing agents and landlords with the secure access they need to make informed decisions, and helped renters get into units faster. We are pleased to offer Apply Now to Homes.com users." Apply Now continues Rental Beast's goal of simplifying the rental market for real estate agents, landlords, and tenants, and Homes.com's goal of creating a smarter home search. "Over 80% of the renters on Homes.com are looking for single family homes," said David Mele, president of Homes.com. "In this often segmented market, submitting rental applications can be stressful and time consuming. Our partnership with Rental Beast will help alleviate those pain points and provide renters with a simple and smart home search experience." About Homes.com Homes.com offers today's demanding homebuyers, renters, and those somewhere in between a simply smarter home search with a more personalized and conversational way to find their next home. Since its launch over 25 years ago, Homes.com offers real estate professionals brand and property advertising, search engine marketing, and instant response lead generation to help them succeed online. For more information, visit Homes.com. About Rental Beast Rental Beast offers a fully integrated SaaS platform that simplifies the entire leasing process. Rental Beast disrupts the notoriously challenging rental market and help agents take advantage of the growing renter population to build a sustainable pipeline of first time homebuyers. For more information, visit rentalbeast.com.
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Chime Partners with Verse.io to Arm Real Estate Professionals with High Quality Leads
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CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a November in at Least 20 Years
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, 3.9% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in November 2019, representing a 0.1 percentage point decline in the overall delinquency rate compared with November 2018, when it was 4%. As of November 2019, the foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.4%, unchanged from November 2018. The November 2019 foreclosure inventory rate tied the prior 12 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% in November 2019, up from 1.9% in November 2018. The share of mortgages 60 to 89 days past due in October 2019 was 0.6%, down from 0.7% in November 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in November 2019, down from 1.5% in November 2018. The serious delinquency rate has remained consistent since April 2019. 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% in November 2019, up from 0.8% in November 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. "Natural disasters often cause spikes in mortgage delinquencies that gradually recede," said Dr. Frank Nothaft, chief economist at CoreLogic. "The CoreLogic 2019 Natural Hazard Report revealed that delinquency rates in Panama City, Florida, nearly tripled in the immediate aftermath of Hurricane Michael in October 2018, but fell back to trend levels by late 2019." No states posted a year-over-year increase in the overall delinquency rate in November 2019. The states that logged the largest annual decreases included North Carolina (down 0.7 percentage points) and District of Columbia (down 0.5 percentage points). Four other states followed with annual decreases of 0.4 percentage points. In November 2019, 50 metropolitan areas recorded at least a small annual increase in overall delinquency rate. The largest annual increases were in the following metros: Pine Bluff, Arkansas (up 1.4 percentage points); Enid, Oklahoma (up 0.9 percentage points); Dalton, Georgia (up 0.6 percentage points); and Dubuque, Iowa (up 0.5 percentage points). While the nation's serious delinquency rate remains at a 14-year low, 23 metropolitan areas recorded small annual increases in their serious delinquency rates. Enid, Oklahoma, logged the highest annual gain (up 0.4 percentage points), followed by Dubuque, Iowa (up 0.2 percentage points); Hanford-Corcoran, California (up 0.2 percentage points); Panama City, Florida (up 0.2 percentage points) and Salisbury, Maryland-Delaware (up 0.2 percentage points). The remaining 18 metro areas each logged an annual increase of 0.1 percentage point. "Overall delinquency rates remain at 20-year lows spurred on by tight underwriting standards following the onset of the Great Recession, a robust and accelerating economic cycle over the past five years and the increasing underlying health of the housing economy," said Frank Martell, president and CEO of CoreLogic. "In the Southeast, the 2018 hurricane season left higher overall delinquency rates in its wake, but the region is finally on the mend. In the Midwest, we see a somewhat different picture. Of the 50 metro areas that experienced increases in overall delinquency rates in November, nearly half were in the Midwest. Still, as mortgage rates reach a three-year low, we could expect to see stabilization across markets heading into 2020." The next CoreLogic Loan Performance Insights Report will be released on March 10, 2020, featuring data for December 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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Migrants Out of Expensive West Coast Metros Flocked to Portland, Oregon in Q4 2019
Affordable stalwarts Phoenix, Sacramento, Las Vegas and Atlanta continued to dominate the list of top migration destinations SEATTLE, Feb. 7, 2020 -- Twenty-six percent of home searchers looked to move to another metro area in the fourth quarter of 2019, compared to 25% during the same period last year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. This ties the all-time high for the national share of home-searchers looking to relocate that was set in the third quarter of 2019. The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 87 metro areas from October through December. Moving In — Top U.S. Metros Attracting the Most Migrants Portland, Oregon regained a spot in the top 10 list of metro areas with the highest net inflow of Redfin users, coming in at seventh after falling out of the list in Q1 of 2019. Nashville was also a new addition to the top 10 this month at number 10. San Diego and Charlotte both fell out of the top 10. Phoenix moved back into the number one spot in the fourth quarter after slipping to third place in the third quarter. Boston's reign at number one was short-lived: after one quarter at the top it fell to ninth place. At just $400,000, Portland has one of the most affordable median home prices among major West Coast cities, which makes it an attractive location for inbound residents from other more expensive cities across the west coast such as San Francisco (median price $1.32 million), Seattle($572,500) and Los Angeles($649,000). "The ability to work remotely is a huge factor in people relocating, especially within the same time zone," said Portland Redfin agent Megan Warren. "I just met with a homebuyer who is moving here from Oakland in the spring. Working remotely is allowing him to sell his condo in a less desirable part of the Bay Area for over $500,000 and buy a serious upgrade in space, safety, and neighborhood in the Portland area." Moving Out — U.S. Metros Losing the Most Migrants Some of the most expensive areas in the country dominated the list of metros facing negative migration. New York, San Francisco, Los Angeles and Washington, D.C., were among the cities with the greatest number of people looking to move away in the fourth quarter. "The current inventory crunch really started building in the fourth quarter, pushing home prices in the expensive coastal cities back up after a slight reprieve earlier in the year," said Redfin chief economist Daryl Fairweather. "As price increases begin to gain steam again in these areas, we're predicting that migration to more affordable areas will increase, which in turn will begin to drive prices up there, as well." To read the full report, please visit: https://www.redfin.com/blog/q4-2019-housing-migration-report 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 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $85 billion.
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Second Century Ventures Makes Investment in Modern Moving Services Platform Updater
CHICAGO (February 11, 2020) -- Second Century Ventures, the venture capital arm of the National Association of Realtors, announced today that it has made an investment in Updater, a leading digital moving concierge firm that allows Realtors to offer their clients a seamless, frustration-free moving process. Updater was a member of Second Century Ventures’ inaugural 2013 REACH Accelerator class, a unique technology growth program that provides companies with education, mentorship, an insight panel and industry exposure to facilitate their launch into the marketplace. “We're changing how moving works for consumers and turning it into an enjoyable, frictionless experience,” said David Greenberg, Updater’s founder and CEO. “We’re excited to deepen our great relationship with SCV and NAR by investing heavily in the real estate industry and by enabling Realtors® and property managers to deliver an unrivaled moving experience.” Updater plans to use its current investment round to support aggressive growth initiatives. That undertaking includes the recently announced acquisition of Bridgevine, a leading provider of technology for home subscription sign-ups and associated concierge offerings. Bridgevine will become part of Updater’s home services division, helping expand app distribution and enhance Updater’s suite of products. Mark Birschbach, NAR's senior vice president of Strategic Business, Innovation & Technology also expressed confidence following Tuesday’s announcement. “We are impressed with Updater’s business progress and pleased to make an investment to reinforce its successful growth strategy,” Birschbach said. “Updater’s platform delivers unique value to Realtors®, property managers and consumers alike. This investment is well aligned with SCV’s mission to support and advance technologies throughout the entire real estate ecosystem.” About Updater Updater makes moving easier for the 17 million households that relocate every year in the US. With Updater, users seamlessly transfer utilities, forward mail, connect TV and internet, and much more. Hundreds of the most prominent real estate companies in the US (from real estate brokerages to multifamily and relocation companies) rely on Updater’s technology to save clients hours with a branded and personalized Updater moving experience. To learn more, visit www.updater.com. About Second Century Ventures Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries including real estate, financial services, banking, home services and insurance. SCV seeks to define and deliver the future of the world's largest industries by acting as a catalyst for new technologies, new opportunities, and new talent. 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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Introducing All-New Homesnap Pro
A new generation of Homesnap, the industry's most comprehensive and widely adopted real estate search and productivity platform BETHESDA, Md., Feb. 10, 2020 -- Homesnap, the market-leading national home search platform that provides real-time MLS data to consumers and a mobile productivity tool for agents, today introduced All-New Homesnap Pro, the newest and most advanced generation of its home search platform. All-New Homesnap Pro Features All-New Homesnap Pro features a simple, user-friendly interface that empowers agents to dominate their market with extensive property information and the ability to identify potential sellers and homes before the competition. This advanced generation of Homesnap provides real estate professionals with over 500 data sources on a single platform — more than any other mobile solution in residential real estate. Homesnap conducted extensive research over three years to learn exactly which features real estate agents want and need in order to grow their businesses and operate more efficiently and successfully. This feedback is at the heart of the All-New Homesnap Pro technology. "We listened to our agents and discovered that the most requested features for a real estate app are tools that give agents comprehensive property and homeowner information and ways to identify potential sellers," said John Mazur, CEO of Homesnap. "With this latest generation of Homesnap Pro, we continue to give our users resources to better attract and serve their clients." Free to all Homesnap Pro agents, All-New Homesnap features include: Off-Market Marketplace, a new feature that uses a cutting-edge machine-learning algorithm to identify potential sellers and display them on heatmaps. Real-Time MLS Data Integrations that sync contacts, saved searches and listing carts to give a fuller picture of properties. Advanced Search Filters that allow agents to find homes that meet their clients' specific criteria like parking needs, or homes with a basement, pool, or particular appliances. Improved Building Pages that provide better organized and more personalized information to users about residential buildings in their market, including the ability to browse units that match search criteria or search by individual unit numbers. The new Off-Market Marketplace uses machine learning to assign homes a Likelihood To List score, allowing agents to identify potential sellers or properties in their market that match their buyers' search criteria before they go on the market. Likelihood To List scores are presented in color-coded heatmaps that give agents the ability to visualize a wealth of property information through their filtered searches. "One of All-New Homesnap Pro's new features — Off-Market Marketplace — is an advanced adaptation of machine learning," said Lou Mintzer, Homesnap CPO. "90% of sellers select the first agent they talk to. We built a feature that uses a predictive algorithm that leverages AI to find patterns across disparate data sources to determine which homes will likely go on the market in the next year. Homesnap Pro agents can identify potential sellers before they've started the selling process, putting them one step ahead of the competition." The features included in All-New Homesnap Pro are available on iOS and Android devices to Homesnap Pro agents and are included as part of their MLS membership benefits at no additional charge. Throughout 2020, Homesnap will continue to roll out additional features and tools that help agents provide better client service and connect with prospects in real, tangible ways. For more information, visit www.homesnap.com. About Homesnap With easy-to-use mobile technology fueled by unmatched, real-time data intelligence, Homesnap is changing the way real estate agents connect with consumers and serve their clients. The industry-endorsed Homesnap platform leverages real-time data from over 200 MLSs to empower millions of consumers each month with a superior home search experience, while providing over one million U.S. agents with access to powerful mobile tools that automate their work and accelerate their success. With the Homesnap mobile app, the highest rated consumer home search application; Homesnap Pro, the industry-standard mobile business platform for agents; and the Homesnap national home search portal, a joint venture with the industry-backed Broker Public Portal, the integrated Homesnap platform is transforming the industry by bringing real-time to real estate. More information can be found at www.homesnap.com.
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U.S. Housing Supply Reaches New Low
Inventory continued to fall and prices rose in January setting the stage for a competitive homebuying season SANTA CLARA, Calif., Feb. 7, 2020 -- National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than 4 years, pushing the supply of for sale homes in the U.S. to its lowest level since realtor.com® began tracking the data in 2012, according to the website's January Monthly Housing Trends Report released today. Based on realtor.com®'s analysis, January's steep year-over-year decline amounted to a national loss of 164,000 listings, tightening the grip of the housing shortage plaguing the U.S. Based on realtor.com® data, it shows no signs of easing in the near future as the volume of newly listed properties also declined by 10.6 percent since last year. "Homebuyers took advantage of low mortgage rates and stable listing prices to drive sales higher at the end of 2019, further depleting the already limited inventory of homes for sale. With fewer homes coming up for sale, we've hit another new low of for sale-listings in January," according to Danielle Hale, realtor.com®'s chief economist. "This is a challenging sign for the large numbers of Millennial and Gen Z buyers coming into the housing market this homebuying season as it implies the potential for rising prices and fast-selling homes—a competitive market. In fact, markets such as San Jose in Northern California, which saw inventory down nearly 40 percent last month, are also seeing prices grow by 10 percent while homes are selling at a blistering pace of 51 days." The supply shortage is found at every price tier throughout the U.S., but it is especially pronounced at the entry-level. In January, properties priced under $200,000 declined by 19 percent, an acceleration compared to December's decline of 18.1 percent. The decline in inventory of mid-tier properties priced between $200,000 and $750,000 also accelerated, to a decline of 12 percent year-over-year, compared to December's 10.2 percent decline. Even upper-tier properties priced at more than $750,000 declined by 5.9 percent year-over-year compared to December's decline of 4.4 percent. As inventory reached its lowest point on record, both listing prices and days on market reacted to the imbalance of supply and demand. The median U.S. listing price grew by 3.4 percent year-over-year, to $299,995 in January, while prices in 18 metros grew by more than 10 percent. Of the 50 largest metros, 46 saw year-over-year gains in median listing prices, with Philadelphia as the nation's standout with a 16.0 percent increase over last year. Additionally, with the lack of supply, homes are selling in an average of 86 days, two days more quickly than January of last year. Where Housing Supply Changed the Most The metros which saw the largest declines in housing inventory were San Jose-Sunnyvale-Santa Clara, Calif. (-37.3 percent); Phoenix-Mesa-Scottsdale, Ariz. (-35.4 percent); and San Diego-Carlsbad, Calif. (-34.0 percent). Other markets across the country where housing supply had sharp declines included Denver-Aurora-Lakewood, Colo. (-28.8 percent); Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (-27.8 percent); and Cincinnati, Ohio-Ky.-Ind. (-24.4 percent). Only two of the 50 largest metros saw inventory increase year-over-year: Minneapolis-St. Paul-Bloomington, Minn.-Wis. (+9.4 percent); and San Antonio-New Braunfels, Texas (+8.4 percent). Where Prices Changed the Most Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (+16.0 percent); Rochester, N.Y. (+15.0 percent); and Phoenix-Mesa-Scottsdale, Ariz. (+14.5 percent) posted the highest year-over-year median list price growth in January. Other markets across the country where housing prices shot up included Memphis, Tenn.-Miss.-Ark. (+13.7 percent); and Indianapolis-Carmel-Anderson, Ind. (+12.9 percent). The steepest price declines were seen in Louisville/Jefferson County, Ky.-Ind. (-4.0 percent); Minneapolis-St. Paul-Bloomington, Minn.-Wis. (-2.0 percent); and Houston-The Woodlands-Sugarland, Texas (-1.9 percent). However, each of these markets saw yearly price declines decelerate compared to December. Where Days on Market Changed the Most Hartford-West Hartford-East Hartford, Conn.; Raleigh, N.C.; and Oklahoma City, Okla.; saw the largest decreases in days on market with properties spending 13, 13, and 12 fewer days on the market than last year, respectively. Other markets across the country where houses sold faster than last year included Austin-Round Rock, Texas (-9 days); Minneapolis-St. Paul-Bloomington, Minn.-Wis. (-6 days); and Orlando-Kissimmee-Sanford, Fla. (-6 days). Meanwhile, properties in Las Vegas-Henderson-Paradise, Nev.; Boston-Cambridge-Newton, Mass.-N.H.; and Detroit-Warren-Dearborn, Mich. sold 7, 7, and 6 days more slowly, respectively. Metros Seeing the Largest Declines in Inventory About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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CoreLogic Reports December Home Prices Increased by 4% 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 December 2019, which shows home prices rose both year over year and month over month. Home prices increased nationally by 4% from December 2018. On a month-over-month basis, prices increased by 0.3% in December 2019. (November 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 be 5.2% from December 2019 to December 2020. On a month-over-month basis, the forecast calls for U.S. home prices to increase by 0.1% from December 2019 to January 2020, which would mark a new peak in prices since the last recorded peak in April 2006. 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. "Moderately priced homes are in high demand and short supply, pushing up values and eroding affordability for first-time buyers," said Dr. Frank Nothaft, chief economist at CoreLogic. "Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median." 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, 34% of metropolitan areas have an overvalued housing market as of December 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 December 2019, 26% 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, 20% were undervalued and 40% were at value in December 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 study revealed a significant contrast between younger millennials (ages 21-29) and older millennials (ages 30-38) regarding lifestyle preferences and aspirations for homeownership. Though 79% of younger millennial renters express a desire to purchase a home in the future, very few have previously owned a home, and many do not currently feel the need to own a home. However, due to homeownership rates nearly doubling for millennials once they reach their 30s, many enter a transitional period around 29-30 years old and reconsider their priorities. "On a national level, home prices are on an upswing," said Frank Martell, president and CEO of CoreLogic. "Price growth is likely to accelerate in 2020. And while demand for homeownership has continued to increase for millennials, particularly those in their 30s, 74% admit they have had to make significant financial sacrifices to afford a home. This could become an even bigger factor as home prices reach new heights during 2020." 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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Pending Home Sales Skid 4.9% in December
WASHINGTON (January 29, 2020) -- Pending home sales fell in December, taking a step back after increasing slightly in November, according to the National Association of Realtors. Each of the four major regions reported a drop in month-over-month contract activity, with the South experiencing the steepest fall. However, year-over-year pending home sales activity was up nationally compared to one year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, fell 4.9% to 103.2 in December. Year-over-year contract signings increased 4.6%. An index of 100 is equal to the level of contract activity in 2001. "Mortgage rates are expected to hold under 4% for most of 2020, while net job creation will likely exceed two million," said Lawrence Yun, NAR's chief economist. While he noted that these factors are promising for the housing market, Yun cautioned that low inventory remains a significant longer-term concern. "Due to the shortage of affordable homes, home sales growth will only rise by around 3%," Yun predicted. "Still, national median home price growth is in no danger of falling due to inventory shortages and will rise by 4%. The new home construction market also looks brighter, with housing starts and new home sales set to rise 6% and 10%, respectively." 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., Burlington, N.C., Topeka, Kan., Pueblo, Colo., and Columbus, Ohio. "The state of housing in 2020 will depend on whether home builders bring more affordable homes to the market," Yun said. "Home prices and even rents are increasing too rapidly, and more inventory would help correct the problem and slow price gains." December Pending Home Sales Regional Breakdown All regional indices were down in December. The Northeast PHSI slipped 4.0% to 92.4 in December, 0.1% lower than a year ago. In the Midwest, the index dropped 3.6% to 98.8 last month, 1.3% higher than in December 2018. Pending home sales in the South decreased 5.5% to an index of 118.1 in December, a 7.4% increase from December 2018. The index in the West fell 5.4% in December 2019 to 93.1, an increase of 7.0% 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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The Gap Between Buying and Renting Narrows Nationwide
Purchasing a home still more expensive in majority of larger metros SANTA CLARA, Calif., Jan. 29, 2020 -- After years of skyrocketing home prices, the combination of rising rents, lower mortgage rates and moderating home prices are making purchasing a home more attractive in many of the nation's largest metros, according to realtor.com's quarterly Rent vs. Buy report released today. The report, which analyzed the cost of buying versus renting in 593 counties across the U.S., in the fourth quarter of 2019, found that it was cheaper to buy than rent in 16 percent of the counties with populations of 100,000 or more, up from 12 percent a year earlier. Despite homeownership becoming more affordable, it is still cheaper to rent than buy in 84 percent of the nation's largest counties, including New York City, San Francisco and Los Angeles. "The move toward a more balanced equation is good news for home sellers during this spring home buying season as more people, especially the large cohort of millennials who turn 30 this year, begin to weigh the cost of buying versus renting," said realtor.com® Senior Economist George Ratiu. "Due to a combination of factors, we saw the monthly cost to buy a home fall 1 percent year-over-year, while rents increased 4 percent during the same time frame." The monthly cost to buy the national median-priced home was approximately $1,600, or 30 percent of the national median household income, in the fourth quarter of 2019, in line with the budgeting rule of spending no more than 30 percent of gross income on housing costs. The cost to rent increased to $1,319, representing 25 percent of the median household income in the fourth quarter of 2019. Over the past year, 26 of the 593 counties analyzed shifted from being more affordable to rent to being more affordable to buy, including in the Cleveland, Bronx County, N.Y., Indianapolis and Columbia, S.C, areas. Although it is still cheaper to rent than buy, some of the nation's most expensive housing markets, including Kings and New York counties in N.Y., along with Santa Cruz County, Calif., saw the gap between renting and buying decrease the most: by 24 percent, 20 percent, and 18 percent, respectively. Counties Where Buying is More Attractive The median listing prices in the counties where buying a home was more affordable were on average 53 percent lower than the national median listing price of $300,000. Median rents, while still less expensive, were only 11 percent cheaper on average. Counties Where Renting is More Attractive The median listing prices in the counties where renting is more affordable, were on average 260 percent higher than the national median of $300,000. Median rents, while also more expensive, were only 79 percent more expensive on average. Notes on Methodology *Purchase and rent costs reflect current costs and do not take into account holding period, price and rent appreciation, and inflation. Purchase costs do include taxes and insurance and are calculated based on realtor.com county-level residential listing price data and mortgage rate data for December 2019. Rental prices are from the U.S. Department of Housing and Urban Development (HUD) data for 2019 50th-percentile rent estimates. Household income data and home-ownership data are from Census Housing Vacancies and Home-ownership data and 2019 Claritas estimates are based on Census data. Only counties with populations of 100,000 or greater are included in the top lists in this analysis. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Chime Technologies and Curaytor Partner to Deliver Powerful Real Estate Dashboard
Chime will be the first technology solution to integrate with Curaytor LINC NEW YORK, Jan. 28, 2020 -- Inman Connect 2020 -- Chime Technologies, an operating system for the real estate industry, and Curaytor, a full-service digital marketing company specializing in marketing and advertising for listing agents, today announced a partnership to provide real estate firms with one comprehensive dashboard for all their operational, marketing, and lead generation needs. Chime's award-winning operational platform and AI-powered capabilities will integrate with Curaytor's Convert profiles, powered by the recently launched Curaytor LINC technology, combining the best applications for social media marketing, lead generation, CRM and more into one comprehensive UI – custom built for the real estate industry. To see the solution in action, visit the Chime booth at Inman Connect, January 28th through the 31st in New York City. To learn more, visit www.chime.me. Chime's proven real estate applications will power core functionality in the Curaytor Convert dashboard including IDX home search, listing and property alerts, as well as a robust CRM system. Brokers and agents alike will be able to leverage Curaytor Convert to better manage and automate key marketing and operational activities, freeing them up to spend more time and effort on revenue producing opportunities. Jimmy Mackin, CEO of Curaytor noted, "As a recognized innovator in digital marketing, we have been successfully helping real estate professionals capture and convert internet leads but recognized there is an opportunity to help our customers achieve more. By partnering with Chime and leveraging their proven technology, it's a huge win for our clients." "Our industry is beginning to realize that while leads abound, not every opportunity is created equal. Extracting the right leads, efficiently nurturing them, and then converting those leads into clients is how real estate pros will be successful," noted Mike McGowan of Chime. "As the first partner to integrate with Curaytor's new LINC technology, we can immediately deliver our industry-leading capabilities to the Curaytor customer base, enabling agents to usher in a new year of increased productivity and revenue-generating opportunities." For more information on Chime and our real estate operating platform visit our solutions page or watch our informational video. Learn more about Curaytor at their website. About Curaytor Curaytor is a digital marketing company that specializes in helping listing agents get more listings. The company has been recognized as one of Inc's 500 Fastest Growing Companies in America and its co-founders have written bestselling books including The Conversion Code and Exactly What to Say for Real Estate Agents. For more information, contact [email protected], call 617-925-7111, or visit www.curaytor.com About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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BoomTown's New Tools Generate Listing Opportunities and Promote Active Listings
Innovative new website customization tools released on the heels of new Marketing Central self-serve advertising portal CHARLESTON, S.C., January, 28, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce new website customization tools to help clients capture and convert more prospects right from their homepage. Now clients can leverage the power of customization as well as a self-serve advertising portal, recently-released Marketing Central, to quickly and effectively promote listings with ads that generate and re-engage leads. New customization features allow clients to customize their homepage experience to drive more conversions. Call-to-Action buttons are completely customizable. Leverage "search" "sell" or "buy" to capture different leads right from the homepage. Easily promote programs like iBuyer, recruitment campaigns and more, to maximize ad spend. Agents can customize their subdomain homepages to showcase a unique look and highlight their own areas of expertise. Optional eye-catching video backgrounds grab attention and keep branding hyper-local. "Sellers have more options than ever before and it can be confusing to determine the net results, but the smartest agents deliver a service to not only collect the best instant offers available, but also analyze them in an apples-to-apples comparison that makes it simple for the Seller to choose what's best," said Brad Nix, COO and co-owner of Path & Post. "With BoomTown, we're able to capture those sellers as leads, directly via an "Instant Offer" CTA on our homepage at pathpost.com." With the influx of new listing business generated, agents can now easily promote their listings through BoomTown's intuitive self-serve advertising portal, Marketing Central, which offers the ability to: Build advertising campaigns through channels such as Instagram and Facebook to highlight active listings, promote open houses, and showcase successfully sold properties. Create dynamic ads for real estate (DARE) to effectively re-engage database leads and website visitors with listing content that matches their unique tastes. Prove value to seller clients with reporting that shows the effectiveness of Marketing Central's ability to drive hyper-targeted, in-market buyers to their listings. "We're very excited to help clients leverage the power of social media marketing and remove the pain points of managing each system and campaign manually," said Grier Allen, CEO & President of BoomTown. "Dynamic ads provide content that a lead is most likely to engage with, re-engage leads already in an agent's database, and ensure a better conversion rate and ad spend ROI." About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, San Diego, CA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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A Millennial Sized Problem Stands in Front of Gen Z Homebuyers
Gen Z is ready to buy, but competition remains fierce SANTA CLARA, Calif., Jan. 22, 2020 -- The oldest members of Gen Z are beginning to enter the homebuying stage of their lives, but they will have to compete with the might of the millennial generation for the nation's depleted inventory of entry level homes. Gen Z, the oldest of whom turned 22 in 2019, currently make up 2 percent of mortgages, according to realtor.com's Fourth Quarter 2019 Generation Propensity Report, but that number will continue to grow as the generation ages and their earning potential increases. "Gen Z is entering the housing market under the radar, but at a projected 65-million strong, they are going to begin making some major waves," according to realtor.com®'s Senior Economist George Ratiu. "However, as the young generation launches into homeownership, it is facing strong headwinds, including competition from millennials, many of whom are entering homeownership later in life, and a marketplace largely devoid of entry-level options." According to a survey conducted in 2018 by realtor.com®, 40 percent of Gen Z members stated they want to own their own home by the age 25. As the oldest cohort of Gen Z approaches that age, realtor.com®'s recent analysis shows they are starting to steadily increase their share of national home purchases. "With major generational transitions taking place across a housing landscape clouded by lack of new construction and a shortage of inventory, young Americans' preference for homeownership is a ray of sunshine," added Ratiu. "It stands in contrast to the rhetoric of the past decade, cataloging young people as the 'renter generation,' and provides ample evidence that a significant ramp-up in affordable new home building is needed to meet the growing demand." Depleted entry-level inventory With a lack of homes priced under $200,000 being built or available for-sale, Gen Z, those born between 1997 and 2012, will find it increasingly difficult to find a home within their price range. During the fourth quarter of 2019, the median purchase price of a home by Gen Z was $160,600. Then in December, the inventory of homes priced below $200,000 decreased by 18.1 percent year-over-year, according to realtor.com®'s December Monthly Trends Report. Although Gen Z increased their median purchase price by 11 percent over the past year, they are still many years away from catching up to millennials both in life stages and housing budgets. In order to find homes within their budget, Gen Z is turning toward smaller Midwestern and Southern markets that boast higher affordability. Toledo, Ohio; Grand Rapids, Mich.; and Wichita, Kan., were the top three metros where Gen Z had the largest share of homeownership. The top 10 Gen Z markets had a combined median listing price of $224,500, which is 25 percent less expensive than the nation's median listing price of $300,000. Top 10 Generation Z Housing Markets Gen Z will be competing with millennials for years to come The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth quarter of 2019, millennials made up the largest generational segment of homebuyers, growing their share of home purchase mortgages to 48 percent. Millennials (born between 1981 and 1996) began entering the market at the height of the housing market crash in 2008 and the subsequent recession. Additionally, the generation found itself saddled with massive student loan debt, which caused many to delay their goals of homeownership, but that is all in the past. Now, as Gen Z begins to enter the market they are facing increased competition from millennials who patiently waited to purchase a home. At the moment, Gen Z and millennials have differing preferences on where to buy a home. Of the markets on Generation Z's top 10 list, only Grand Rapids, Mich., and Baton Rouge, La., appeared on the top 10 list for millennials. Larger and trendier markets such as San Francisco, Boston, and Denver were the most different between the generations. All three markets made it to the top 20 markets for millennials but ranked between 81 and 98 for Generation Z, most likely due to high housing prices shutting out Gen Z buyers. As Gen Z turns their interest toward larger metros in the future, competition between the generations is likely to increase, but at the moment, the two generations have a different focus, according to the realtor.com® analysis. Methodology The Report on Loan Originations by Age and Generational Groups is based off of a realtor.com® analysis of a sample of residential mortgage loan originations from Optimal Blue. The top market rankings were calculated using a group's mortgage origination share. The generational groups are defined as follows: Millennials: born between 1981 and 1996 Generation Z: born between 1997 and 2012 About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. 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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Average U.S. Home Seller Profits Hit $65,500 in 2019, Another New High
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Moderne Ventures Announces its January 2020 Passport Class
Moderne Ventures accepts seven companies into its Passport Program; companies address seismic shifts in real estate, finance, insurance, hospitality and home services. CHICAGO, Jan. 23, 2020 -- Moderne Ventures, a venture fund focused on real estate, finance, insurance, hospitality and home services, announced seven new companies accepted into its 2020 Passport Program, a highly immersive, seven month industry immersion program providing its participants education, exposure, insight, and relationships to drive customer growth. The 2020 Passport Companies provide solutions using artificial intelligence, robotics and services automation to help progress 100+ year old industries. This Class has collectively raised over $33M in funding with valuations north of $130M. The companies are: Aclaimant—Chicago, IL: Workflow process automation platform for safety and risk management Addressable – San Francisco, CA: Robotic handwriting technology application transforming traditional mail into a highly effective customer acquisition and relationship building platform BendHSA—Boston, MA: A next generation Health Savings Account provider for corporations and 1099 workers Heretik—Chicago, IL: AI based contract review and lease abstraction platform helping organizations make smarter, faster, and more favorable decisions with their data. hOM—New York, NY: A community operating platform with a centrally vetted marketplace of services, wellness programs and pop-up events NumberAI—Oakland, CA: AI-enhanced assistant that answers calls, enables landline texting, automatically responds to common questions and qualifies leads to enable businesses to better communicate with consumers SuburbanJungle—New York, NY: Advisory and technology platform that helps families find the best place to call home “The Passport Program curates the most innovative solutions addressing our industries. We help companies understand complexities, optimize their products and services and connect them to partners who can benefit most from them,” said Constance Freedman, Moderne Ventures’ Founder and Managing Partner. “We are excited to see how this Passport Class will impact how we work, live and play.” About Moderne Ventures Moderne Ventures invests in technology companies in and around real estate, finance, insurance, hospitality and home services. Moderne operates a Venture Fund and the Moderne Passport, an Industry Immersion Program designed to foster innovation, partnership and growth between industry partners and emerging technology companies. Moderne works with over 700 executives and corporations within its industries and evaluates over 4,500 emerging tech companies each year. Its principals have invested in 90+ companies including DocuSign, Better, Easyknock, Hello Alfred, Homesnap and ICON.
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2019 Ends on a High Note for Home Buyer Activity as December Showings See Fifth Consecutive Month of Year-Over-Year Growth
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Existing-Home Sales Climb 3.6% in December
WASHINGTON (January 22, 2020) -- Existing-home sales grew in December, bouncing back after a slight fall in November, according to the National Association of Realtors. Although the Midwest saw sales decline, the other three major U.S. regions reported meaningful growth last month. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.6% from November to a seasonally-adjusted annual rate of 5.54 million in December. Additionally, overall sales took a significant bounce, up 10.8% from a year ago (5.00 million in December 2018). On a full-year basis, total existing-home sales ended at 5.34 million, the same level as in 2018, as sales in the South region (+2.2%) offset declines in the West (-1.8%) and Midwest (-1.6%), as the Northeast remained unchanged. Lawrence Yun, NAR's chief economist, said home sales fluctuated a great deal last year. "I view 2019 as a neutral year for housing in terms of sales," Yun said. "Home sellers are positioned well, but prospective buyers aren't as fortunate. Low inventory remains a problem, with first-time buyers affected the most." The median existing-home price for all housing types in December was $274,500, up 7.8% from December 2018 ($254,700), as prices rose in every region. November's price increase marks 94 straight months of year-over-year gains. "Price appreciation has rapidly accelerated, and areas that are relatively unaffordable or declining in affordability are starting to experience slower job growth," Yun said. "The hope is for price appreciation to slow in line with wage growth, which is about 3%." NAR's Home Affordability Index Ranking and Payroll Job Growth report found that affordability rankings declined in 81 metro areas, 34 of which saw non-farm job growth fall faster in 2019 Q3 than the national rate over the previous five years. Total housing inventory at the end of December totaled 1.40 million units, down 14.6% from November and 8.5% from one year ago (1.53 million). Unsold inventory sits at a 3.0-month supply at the current sales pace, down from the 3.7-month figure recorded in both November and December 2018. Unsold inventory totals have dropped for seven consecutive months from year-ago levels, taking a toll on home sales. Properties typically remained on the market for 41 days in December, seasonally up from 38 days in November, but down from 46 days in December 2018. Forty-three percent of homes sold in December 2019 were on the market for less than a month. First-time buyers were responsible for 31% of sales in December, moderately down from the 32% seen in both November and in December 2018. NAR's 2019 Profile of Home Buyers and Sellers – released in late 2019 – revealed that the annual share of first-time buyers was 33%. Individual investors or second-home buyers, who account for many cash sales, purchased 17% of homes in December 2019, up from both 16% in November and 15% in December 2018. All-cash sales accounted for 20% of transactions in December, unchanged from November and down slightly from 22% in December 2018. Distressed sales – foreclosures and short sales – represented 2% of sales in December, unchanged from both November 2019 and December 2018. Yun said conditions for buying are favorable and will likely continue in 2020. "We saw the year come to a close with the economy churning out 2.3 million jobs, mortgage rates below 4% and housing starts ramp up to 1.6 million on an annual basis," he said. "If these factors are sustained in 2020, we will see a notable pickup in home sales in 2020." According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 3.72% in December, up from 3.70% in November. The average commitment rate across all of 2019 was 3.94%. "NAR is expecting 2020 to be a great year for housing," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, California. "Our leadership team is hard at work to secure policies that will keep our housing market moving in the right direction, like promoting infrastructure reform, strengthening fair housing protections and ensuring mortgage capital remains available to responsible, mortgage-ready Americans. Single-family and Condo/Co-op Sales Single-family home sales sat at a seasonally-adjusted annual rate of 4.92 million in December, up from 4.79 million in November, and up 10.6% from a year ago. The median existing single-family home price was $276,900 in December 2019, up 8.0% from December 2018. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 620,000 units in December, up 10.7% from November and 12.7% higher than a year ago. The median existing condo price was $255,400 in December, which is an increase of 6.0% from a year ago. Regional Breakdown Compared to last month, December sales increased in the Northeast, South and West regions, while year-over-year sales are up in each of the four regions. Median home prices in all regions increased from one year ago, with the Midwest region showing the strongest price gain. December 2019 existing-home sales in the Northeast grew 5.7% to an annual rate of 740,000, up 8.8% from a year ago. The median price in the Northeast was $304,400, up 7.4% from December 2018. Existing-home sales decreased 1.5% in the Midwest to an annual rate of 1.30 million, which is up 9.2% from a year ago. The median price in the Midwest was $208,500, a 9.2% jump from last December. Existing-home sales in the South grew 5.4% to an annual rate of 2.36 million in December, up 12.4% from a year ago. The median price in the South was $240,500, a 6.7% increase from this time last year. Existing-home sales in the West rose 4.6% to an annual rate of 1.14 million in December, a 10.7% increase from a year ago. The median price in the West was $411,800, up 8.1% from December 2018. 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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RateMyAgent Continues to Stack Its Leadership Bench
Australian-based reviews startup deepens its commitment to the U.S. market with the hire of Paula Nash and Molly McKinley SAN DIEGO, Jan. 21, 2020 -- RateMyAgent, an agent review and marketing platform for real estate professionals to generate, aggregate, and syndicate client reviews, today announced that Paula Nash has joined the company as vice president of sales, and Molly McKinley as vice president of brand strategy. These important leadership hires deepen the commitment to the U.S. market through proven expertise, knowledge and successful track records in the real estate industry. "As the CEO, I know one of the most important decisions I can make is to hire experts, the people who know and understand the market and people we wish to serve," said Mark Armstrong, co-founder and chief executive officer of RateMyAgent. "Both Paula and Molly have incredible reputations, are highly respected and embody our core values of being customer obsessed and able to hustle together in a fast-paced environment." Paula got her start in real estate nearly eleven years ago when she served as the association executive for the Mid-Carolina Regional Association of Realtors. She concurrently oversaw a for- profit corporation, a subsidiary of the Association - the Pinehurst Southern Pines Area MLS. She learned the ins and outs of the real estate industry and was able to apply her vision and determination as the customer service and sales executive covering the Southeast for Centralized Showing Service and subsequently ShowingTime. All challenges were met with exceptional results. Paula also served as a Sergeant in the United States Airforce as an Air Medic. "I've coordinated rescue missions from air," said Paula Nash, vice president of sales of RateMyAgent, "so I can certainly build a successful sales team for a product and company I believe in. When it comes to technologies that excite me, the RateMyAgent reviews platform is simply a no-brainer. Agents have already done the hard work, so it's time to share their value with the world and pull their reviews together in one place." Molly McKinley, a celebrated branding and marketing mind, got her start in real estate as vice president of corporate marketing and communication at Adwerx. She has assisted numerous companies of all sizes, in her award-winning, twenty-five year career, such as Adobe, IBM, Relola and First. She is also actively engaged with her own brands, Intentionalities and the intentional marketing agency, Redtail Creative. She's driven by creating exceptional consumer experiences and is committed to building purpose-filled brand strategies. "RateMyAgent has all the right ingredients to becoming a beloved brand in the U.S.," said Molly McKinley, vice president of brand strategy for RateMyAgent. "The team deeply cares about real estate agents and seeks to celebrate the excellence that will continue to make them relevant and Undisruptable regardless of the shifts taking place in our industry. This is a project I'm ready to dig into and is well aligned with everything that I care about." 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 countries 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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Discover the Earning Potential of a Home with the New Airbnb Feature on Homes.com Listings
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Redfin Ranks the Most Competitive Neighborhoods of 2019
Neighborhoods in Grand Rapids, MI; Tacoma, WA; Minneapolis and the Bay Area Rank Highest for the Year SEATTLE -- Bay Area neighborhood White Oaks is the most competitive neighborhood of the year for homebuyers, according to a new report from Redfin, the technology-powered real estate brokerage. Alger Heights in Grand Rapids, MI and East Arlington in Boston rounded out the top three competitive neighborhoods. "While neighborhoods in the Bay Area and Boston are still among the most competitive in the country, robust competition for homes in Grand Rapids, Minneapolis and Tacoma neighborhoods signals the desirability of more affordable areas," said Redfin chief economist Daryl Fairweather. "An influx of buyers from more expensive neighborhoods contributes to competition in these affordable neighborhoods, especially because they can make higher offers than local residents when they sell their previous homes." The report is based on 2019 rankings from Redfin's Compete Score, which uses a combination of proprietary Redfin data and data from local multiple listing services to determine how difficult it is for buyers to win a home in individual neighborhoods and cities. Below are the most competitive U.S. neighborhoods based on an average of monthly stats from January through November 2019. Of the 10 Bay Area neighborhoods among the most competitive in the country, half are in Oakland. Although the median sale price in Oakland is more than double the national median—$720,000 versus $312,000 for the typical home in the U.S. in November—it's still well below that of San Francisco ($1.4 million) and San Jose ($1.1 million). Oakland Redfin agent Katy Polvorosa said the area has been particularly hot this year, partly because it's more affordable than neighboring parts of the Bay Area. "I've heard a lot of people say the Bay Area housing market is cooling this year, but I'm seeing the opposite in Oakland," Polvorosa said. "I'm writing offers that are seeing aggressive competition. Homes that are move-in ready and priced right typically receive offers within 12 to 14 days. The Oakland market is so hot that sellers are still expecting and receiving offers that waive contingencies." Although the Bay Area is still home to plenty of competitive neighborhoods, homebuyers are gravitating toward more affordable inland metros as housing markets in coastal job centers have become more expensive. In the third quarter of 2019, 26% of Redfin.com home searchers looked to move to another metro area, with affordable places like Sacramento, Phoenix and Las Vegas as popular destinations. The appearance of two neighborhoods in Grand Rapids on this year's ranking of most competitive neighborhoods is an example of the trend of migration away from more expensive metros. "Affordability plus quality of life are big draws to the Grand Rapids area. I've worked with buyers from Chicago, California, Hawaii and other expensive parts of the country who are looking here because they can get so much more bang for their buck," said local Redfin agent Shellie Silva, who moved to Grand Rapids from San Diego three years ago. "Homes in neighborhoods with price points below $275,000, like Alger Heights and Creston, are prone to bidding wars and they tend to sell quickly because they're even more affordable that some other parts of Grand Rapids." In Alger Heights, nearly 67% of homes sold for above list price and the typical home was on the market for one week before going under contract so far this year. And in Creston, 59.3% of homes sold for above list price and the typical home went under contract in just six days. To read the full report, including methodology, please visit: https://www.redfin.com/blog/most-competitive-neighborhoods-2019. 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 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $85 billion.
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Waning Affordability Contributes to Slower Job Growth
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CoreLogic Reports U.S. Overall Delinquency Rate Lowest for an October in at Least 20 Years
No states posted an annual gain in overall delinquency rate in October 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, 3.7% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October 2019, representing a 0.4 percentage point decline in the overall delinquency rate compared with October 2018, when it was 4.1%. As of October 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 October 2018. The October 2019 foreclosure inventory rate tied the prior 11 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 October 2019, down from 1.9% in October 2018. The share of mortgages 60 to 89 days past due in October 2019 was 0.6%, down from 0.7% in October 2018. The serious delinquency rate – defined as 90 days or more past due, including loans in foreclosure – was 1.3% in October 2019, down from 1.5% in October 2018. The serious delinquency rate has remained consistent since April 2019. 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 0.7% in October 2019, unchanged from October 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. "Home price growth builds homeowner equity and reduces the likelihood of a loan entering foreclosure," said Dr. Frank Nothaft, chief economist at CoreLogic. "The national CoreLogic Home Price Index recorded a 3.3% annual rise in values through October 2019, and price growth was the primary driver of the $5,300 average gain in equity reported in the latest CoreLogic Home Equity Report." No states posted a year-over-year increase in the overall delinquency rate in October 2019. The states that logged the largest annual decreases included North Carolina (down 0.9 percentage points) and Mississippi (down 0.8 percentage points). Eight other states followed with annual decreases of 0.6 percentage points. In October 2019, eight metropolitan areas in the Midwest and South recorded small annual increases in overall delinquency rates. The largest annual increases in October 2019 were in the following metros: Pine Bluff, Arkansas (1.0 percentage points); Dubuque, Iowa (0.2 percentage points) and Rockford, Illinois (0.2 percentage points). Five other metros were up 0.1 percentage points: Columbus, Indiana; Kokomo, Indiana; Manhattan, Kansas; Oshkosh-Neenah, Wisconsin and La Crosse-Onalaska, Wisconsin-Minnesota. While the nation's serious delinquency rate remains at a 14-year low, 14 metropolitan areas recorded small annual increases in their serious delinquency rates. Metros with the largest increases were Panama City, Florida (0.4 percentage points) and Dubuque, Iowa (0.2 percentage points). The remaining 12 metro areas each logged an annual increase of 0.1 percentage point. "National foreclosure and serious delinquency rates have remained fixed at record lows for at least the last six months," said Frank Martell, president and CEO of CoreLogic. "However, as markets can be much more volatile at the metro level, both late-stage delinquencies and foreclosures have continued to increase at this level in the Midwest and Southern regions of the country." The next CoreLogic Loan Performance Insights Report will be released on February 11, 2020, featuring data for November 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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Realtors Announce Partnership with Census Bureau in Promotion of 2020 Census
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Buying a Home Is More Affordable than Renting in 53 Percent of U.S. Housing Markets
Renting More Affordable Mainly in Suburban and Urban Counties; Home Price Gains Outpacing Wages in 66 Percent of U.S. Markets IRVINE, Calif. - Jan. 9, 2020 -- 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 2020 Rental Affordability Report, which shows that owning a median-priced, three-bedroom home is more affordable than renting a three-bedroom property in 455, or 53 percent, of the 855 U.S. counties analyzed for the report. However, the analysis shows a split between different-sized markets, with ownership more affordable mainly in lightly populated counties and renting more affordable in more populous suburban or urban areas. The analysis incorporated recently released fair market rent data for 2020 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics along with public record sales deed data from ATTOM Data Solutions in 855 U.S. counties with sufficient home sales data (see full methodology below). "Home ownership is a better deal than renting for the average wage earner in a slim majority of U.S. housing markets. However, there are distinct differences between different places, depending on the size and location from core metro areas," said Todd Teta, chief product officer with ATTOM Data Solutions. "For sure, either buying or renting is a financial stretch or out of reach for individual wage earners throughout most of the country in the current climate. But with interest rates falling, owning a home can still be the more affordable option, even as prices keep rising." Renting more affordable than buying in nation's most populated counties Renting is more affordable than buying a home in 94, or 69 percent, of the 136 counties in the report that have a population of at least 500,000 or more. Renting is the more affordable option in 36 of the 43 counties with a population of at least 1 million or more (84 percent) — including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; Maricopa County (Phoenix), AZ and San Diego County, CA. Other markets with a population of more than 1 million where it is more affordable to rent than buy include counties that surround or are inside of New York City; Dallas, TX; Seattle, WA; Las Vegas, NV; San Jose, CA; San Francisco, CA; San Antonio, TX and Boston, MA. Counties with a population of at least 1 million, where buying a home is more affordable than renting, were Miami-Dade County, FL; Broward County, FL; Wayne County (Detroit), MI; Philadelphia County, PA; Hillsborough County (Tampa), FL; Cuyahoga County (Cleveland), OH and Allegheny County (Pittsburgh), PA. Least affordable rental markets in California, Colorado, Hawaii The report shows that renting a three-bedroom property requires an average of 37.6 percent of weekly wages across the 855 counties analyzed for the report. The least affordable markets for renting are Santa Cruz County, CA (82.1 percent of average wages needed to rent); Marin County, CA (outside San Francisco) (75.3 percent); Park County, CO (southwest of Denver) (74.3 percent); Honolulu County, HI (74.2 percent) and Kauai County, HI (73.7 percent). Counties with a population of at least 1 million, where rents consume the highest percentage of average wages, include Kings County (Brooklyn), NY (65.3 percent); Orange County, CA (outside Los Angeles) (64.7 percent); San Diego County, CA (59.6 percent); Contra Costa County, CA (outside San Francisco) (58.4 percent) and Queens County, NY (57.4 percent). Most affordable rental markets in Tennessee, New York, Alabama, Ohio The most affordable markets for renting are Roane County, TN (west of Knoxville) (20.1 percent of average wages needed to rent); Steuben County, NY (south of Rochester) (22.2 percent); Madison County (Huntsville), AL (22.4 percent); Greene County, OH (outside Dayton) (23.0 percent) and Sangamon County (Springfield), IL (23.2 percent). Among counties with a population of 1 million or more, those most affordable for renting are Allegheny County (Pittsburgh), PA (24.3 percent); Cuyahoga County (Cleveland), OH (25.6 percent); Fulton County (Atlanta), GA (26.2 percent); Oakland County, MI (outside Detroit) (26.6 percent) and Wayne County (Detroit), MI (27.5 percent). Home prices rising faster than rents in 67 percent of markets Median home prices rose faster than average fair-market rents in 575 of the 855 counties analyzed in the report (67.3 percent), including Harris County (Houston), TX; San Bernardino County, CA (outside Los Angeles); Bexar County (San Antonio), TX; Wayne County (Detroit), MI and Philadelphia County, PA. Average rents rose faster than median prices in 280 counties (32.7 percent), including Los Angeles County, CA; Cook County (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA and Orange County, CA (outside Los Angeles). Home prices rising faster than wages in 66 percent of markets Median home prices rose faster than average weekly wages in 567 of the 855 counties analyzed in the report (66.3 percent), including Harris County (Houston), TX; Maricopa County (Phoenix), AZ; Miami-Dade County, FL; Riverside County, CA (outside Los Angeles) and Queens County, NY. Average weekly wages rose faster than median home prices in 288 counties (33.7 percent), including Los Angeles County, CA; Cook County (Chicago), IL; San Diego County, CA; Orange County, CA (outside Los Angeles) and Kings County (Brooklyn), NY. Wage growth outpacing rent growth in 57 percent of markets Wages rose faster than average fair market rents in 484, or 56.6 percent, of the counties analyzed in the report including Harris County (Houston), TX; San Bernardino County, CA (outside Los Angeles); Bexar County (San Antonio), TX; Wayne County (Detroit), MI and Philadelphia County, PA. Average rents rose faster than average wages in 371, or 43.4 percent, of counties in the report, including Los Angeles County, CA; Cook County (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA and Orange County, CA (outside Los Angeles). Methodology For this report, ATTOM Data Solutions looked at 50th percentile average rental data for three-bedroom properties in 2020 from the U.S. Department of Housing and Urban Development, along with Q2 2019 average weekly wage data from the Bureau of Labor Statistics (most recent available) and January-November (YTD) 2019 home price data from ATTOM Data Solutions publicly recorded sales deed data in 855 counties nationwide. Rental affordability is average fair market rent for a three-bedroom property as a percentage of the average monthly wage (based on average weekly wages). Home buying affordability is the monthly house payment for a median-priced home (based on a 3 percent down payment plus mortgage payment, property tax, homeowner's insurance and private mortgage insurance) as a percentage of the average monthly wage. 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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