REI INK

Redfin Reports More Sellers Retreat Amid Falling Prices, Volatile Mortgage Rates

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The average sale-to-list ratio fell below 100% for the first time since March 2021 and the share of homes with a price drop came down from its record high. The average home sold for less than its list price for the first time in over 17 months during the four-week period ending August 28, as the housing market cooldown continued. That’s according to a new report from Redfin (redfin.com), the technology-powered real

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WORD OF THE DAY: Phlegmatic

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[fleg-MAD-ik] Part of speech: Adjective Origin: Greek, 14th century Definition: Having an unemotional and stolidly calm disposition. Examples of Phlegmatic in a sentence “Patrick’s phlegmatic temperament means he doesn’t anger easily.” “Some people mask their emotions with a phlegmatic exterior.” About Phlegmatic This word originates from the Old French “fleumatique,” which derives from the Greek “phlegmatikos,” meaning “inflammation.” Did you Know? The phrase “stiff upper lip” is British, but the phlegmatic philosophy is actually rooted

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SES Risk Solutions and Latchel Partner to Curb Rising Property Insurance Costs for SFR Property Managers and Landlords

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New program leverages innovative technology, underwriting expertise, and buying power to deliver an exclusive property insurance solution As the SFR industry continues to grapple with rising costs and compressed margins, SES Risk Solutions and Latchel have partnered to create a unique program offering designed to curb the cost of property insurance for investors and property managers. The partnership leverages Latchel’s innovative emergency maintenance technology, the buying power of a property manager’s portfolio, and SES’s

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‘Shrinkflation’ hits $1 million homes, down 397 square feet since 2020

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Market share of $1 million-plus homes more than doubled during the pandemic More than twice as many $1 million-plus homes were sold this spring than in the spring of 2019, with Portland, Austin and Riverside seeing the biggest jumps. The size of $1 million homes shrank the most in Phoenix and Nashville since 2019, but they expanded in St. Louis and Minneapolis. Hartford, Connecticut, is where $1 million goes the furthest, buying 4,873 square feet.  Sales of homes costing $1 million more than doubled over the past three years, but

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WORD OF THE DAY: Sprag

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[sprag] Part of speech: noun Origin: Unknown origin, 17th century Definition: A short piece of wood or timber; A prop (especially made of wood or timber) used to support a roof, wall, or seam. Examples of Sprag in a sentence “After cutting the firewood, my uncle cut a few sprags to use as door stops around the house.” “My brother once built a backyard tunnel so complex it had a wooden roof supported by

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STEEP DROP IN REFINANCE ACTIVITY DRIVES CONTINUED SLUMP IN MORTGAGE LENDING ACROSS U.S. IN SECOND QUARTER

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Refinance Lending Drops 36 Percent Quarterly, Outweighing Rise in Other Lending Activity;Total Loans Down Another 13 Percent, Continuing Year-Long Decline;Purchase Mortgages Up 8 Percent While Home-Equity Deals Increase 35 Percent  ATTOM, a leading curator of real estate data nationwide for land and property data, released its second-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 2.39 million mortgages secured by residential property (1 to 4 units) were originated in the

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