Are You Ready To Fall In Love With A Home?

By KIMBERLEY HAAS This Valentine’s Day, if you are ready to get off the sidelines and into the housing market, you are likely not alone in your quest to find a place you love. Potential buyers are coming out of the woodwork and touring homes, according to Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin agents. And although that hasn’t translated into home sales yet, they expect this increase in tours to convert into an improvement in pending sales over the next few months. Dana Anderson, a data journalist at Redfin, explained that more buyers are touring homes now because mortgage rates are holding steady at below 7% and some of these people…

To Buy Or Not To Buy? Homeowners Offer Insights

By NICOLE MURRAY As more people consider jumping into the housing market this year, what do they need to know? The Mortgage Note set out to answer this question, talking to industry leaders and three people who recently purchased a home to get their opinions. Kevin Wu, who bought his first home in 2020, started looking at potential properties with his fiancé just as the real estate market started to transform. The couple looked at almost 15 houses and found their forever home when interest rates were 3.3% in a rather unique experience. “The home we bought was under contract with an approved offer but for whatever reason, they allowed us to look and even place an offer,” said Wu.…

Avoid The Doom And Gloom: How To Survive To 2025

By NICOLE MURRAY A number of real estate industry professionals experienced a painfully slow 2023 and it is predicted this trend will continue in 2024. With high interest rates and low inventory expected, people are encouraged to use this year to prepare for an explosive 2025. The Mortgage Note spoke with industry professionals to see what they expect and what tactics they plan on utilizing to be successful until the inevitable market boom everyone eagerly awaits. “2024 is going to be another stubborn year for originators,” says Jason Perkins, president of CRM company Bonzo. “We might get some relief with rates, but tight inventory and rising home prices will continue to be a burden for potential homebuyers for quite some…

Holiday Listings Are More Common Than You Think – Here’s How To Stand Out

By NICOLE MURRAY The holiday season can be a tricky time of year in the real estate industry. For many agents, business slows down because people generally don’t want to sell, buy, or move during peak celebrations.    But whether it be a new job or a life update, buying and selling during the holiday season happens more than one would think.    The Mortgage Note spoke with real estate industry professionals across the country to discuss the pros and cons of listing during the holiday season and what to know if you do.    To start, there is less inventory on the market and therefore less competition for those who decide to sell. Shant Banosian, EVP of sales at Guaranteed Rate, said…

A Gift Doesn’t Cut It Anymore: Holiday Marketing Tactics For A Successful Season

By NICOLE MURRAY The goal with any holiday marketing plan is to create connections and remain top of mind with the hopes of gaining future business, but how can professionals do that during one of the most chaotic times of the year? Industry leaders say it’s important to start by realizing that one of the most predictable marketing tactics seen amongst real estate agents and loan officers is to send gifts to previous and current clients. While Rob Jensen, broker/owner of the Rob Jensen Company, has seen many successful agents utilize this tactic, he warns that the time and money spent may go unnoticed and offer no return on investment. “Gifting during the holidays is the least memorable time for…

Reaching Customers: Tips For Social Media Success In Today’s Real Estate Market

By NICOLE MURRAY Social media has transformed operations in every industry, including real estate. The power now lies within the hands of the consumer because they can browse through listings, educate themselves about mortgage rates, and research real estate agents before speaking with professionals. As a result, industry leaders are using platforms like Facebook, Twitter, and TikTok to reach new clients and show off properties. Some have found success, while others complain the effort is not worth the amount of business it generates. Mike Leipart, managing partner of the worldwide Agency Development Group, says that social media can be financially beneficial for brokers and real estate agents if it’s used well. He points out that it is a low-cost and…

Are Sellers Required To Reveal Deaths, Hauntings And Paranormal Activity?

By NICOLE MURRAY During a homebuying transaction, it is required that sellers disclose a property’s physical defects to shoppers before a deal is finalized. But are there similar rules in place for sellers and their real estate agents if deaths, murders, hauntings and/or paranormal activity have knowingly occurred on the property being sold? According to Roy Condrey, founder and CEO of DiedInHouse.com, laws for these situations vary state by state but very few make it mandatory for the seller to disclose such information. “I wish being told this type of information was a given but I’m not exactly surprised,” Condrey told The Mortgage Note. “This sensitive information can quickly transform a high-value home for sale into a stigmatized property. I’ve…

How To Prevent Buyer’s Remorse

By NICOLE MURRAY The joy and satisfaction of buying a home has been diminished because of remorse for many Americans. Experts say it doesn’t have to be this way. Due to bidding wars, rising interest rates, and a scarcity of options, in recent years homebuyers put themselves under pressure to make quick decisions about the places they now call home. So it’s not surprising that a recent survey by Clever Real Estate showed that a high percentage of people had regrets about buying in 2022 and 2023. First-time buyers were particularly affected. 51% said the seller of their home took advantage of them and 67% said they felt pressured to submit an offer. More than half of all the buyers…

California Leads Luxury Market But That Could Change

By NICOLE MURRAY California continues to dominate the luxury homes market, but that could change as communities fight for the country’s wealthiest individuals. In a recent Point2Homes.com study, analysts looked at which cities in the United States have the highest share of luxury homes worth at least $1 million for sale. Results were categorized by large, mid-sized, and small cities. They found that listings above $1 million make up around 64% of the for-sale market in Los Angeles. LA also led the ultra-luxury sector, with almost 12% of its homes priced above $5 million. Glendale (66%), Huntington Beach (63%), and Oxnard (43%) in California were found to be the three most luxurious mid-sized markets with high percentages of the homes…

The Future Of Malls As The Consumer Attention Span Gets Shorter

By NICOLE MURRAY Successful malls are offering more than a little retail therapy these days. Shopping malls across the country have been forced to pivot their business strategies as inflation rates spike, retail spaces become vacant, and e-commerce grows in popularity. Experts say malls have performed differently depending on their class. According to Kelly Mangold, principal at RCLCO Real Estate Consulting, class A malls with exclusive, high-end luxury retailers with few vacancies have continued to perform the best. “Malls tend to be successful when they are transformed into a one-stop shop for high-end goods that people cannot get anywhere else nearby,” Mangold said. Class B malls, whose success relies on their anchor retailers, have struggled because, “their level of business…