Mortgage lenders, expect your closing rate to decline over the next year

Capital Economics | April 01, 2019

The closing rate for purchase mortgages recently hit a record high, but analysts at Capital Economics warn lenders that this trend is unlikely to continue. Why? Blame a slowing economy. Most often, mortgage applications are rejected because the borrower’s credit score is too low, their debt-to-income ratio is too high, or the lender does not think the house supports the purchase price. Capital Economics said the high closing rate as of late is likely related to the fact that borrower credit scores have improved and DTIs have lowered, which would make sense given the strong economy and labor market.

Spotlight

The surprise election of Donald Trump has created uncertainty in the healthcare Industry. His promise to “repeal and replace Obamacare”  has the attention of healthcareproviders and healthcare real estate investors alike.

Spotlight

The surprise election of Donald Trump has created uncertainty in the healthcare Industry. His promise to “repeal and replace Obamacare”  has the attention of healthcareproviders and healthcare real estate investors alike.

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MARKET OUTLOOK

Coldwell Banker Real Estate Releases "The International Buyer's Guide to Purchasing U.S. Property"

Coldwell Banker Real Estate LLC | October 31, 2022

Coldwell Banker Real Estate LLC, an AnywhereSM (NYSE: HOUS) brand, released "The International Buyer's Guide to Purchasing U.S. Property," an in-depth collection of guidelines and best practices to demystify the buying process for international clients seeking to purchase property in the United States. The International Buyer's Guide also serves as a helpful resource to help Coldwell Banker affiliated agents better serve clients, and as a marketing resource for agents to build referral business globally. Key features in The International Buyer's Guide include: The Current Real Estate Landscape With travel bans eased, international interest in the United States real estate market is expected to increase due to pent up demand. In 2022, international buyers spent more money but purchased fewer properties than in previous years. According to the National Association of REALTORS®, while transactions further decreased, the dollar volume of foreign buyer purchases rose 8.5% to $59 billion between April 2021 and March 2022. Big Spenders: International buyers accounted for $59 billion in dollar volume for residential properties purchased. Cash Offers: 44% of international buyers paid all-cash for a U.S. property, compared to 24% among all existing home buyers. Real Estate Investment: 44% of international buyers purchased property for use as a vacation home, rental or both in the United States. Dream Locations The five U.S. states that attract the greatest number of international home buyers are Florida, California, Texas, Arizona and New York. While cities like New York and Los Angeles have traditionally attracted the most international dollars, secondary cities are on the rise, presenting as "hidden gem" opportunities. The Coldwell Banker Global Luxury program issued "The Report 2022," which includes "The Opportunity Index" that measures a market's percentage of annual price increase against the current inventory level. Partnering with a Trusted Advisor To ensure a smooth buying process from beginning to end, it's paramount that all buyers work with a trusted agent in their dream location. Coldwell Banker® affiliated agents are available to walk international buyers through each step. From setting up a budget and arranging financing, navigating the U.S. tax landscape to securing their dream home, Coldwell Banker affiliated agents provide around-the-clock support. "We're ecstatic to welcome back international investment into the U.S. real estate market. Gone are the days where the agent is just part of a transaction – today, they're a lifelong partner, helping consumers craft their dream life. The "International Buyer's Guide to Purchasing U.S. Property" offers prospective buyers a full-scale look at best practices, tips and recommendations when thinking about their next purchase." - Liz Gehringer, President of Affiliate Business and Chief Operating Officer of Coldwell Banker Real Estate About Coldwell Banker Real Estate LLC Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, Coldwell Banker Real Estate is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of the Coldwell Banker brand give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.

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REAL ESTATE INVESTMENT, REAL ESTATE ADVICE

Bonaventure and Project Destined Announce Strategic Partnership to Grow the Next Generation of Commercial Real Estate Leaders

Bonaventure | October 21, 2022

Bonaventure, an integrated alternative asset manager focused on the development, construction, and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, announced its partnership with Project Destined. Bonaventure’s partnership will support Project Destined and its mission to provide training in financial literacy, entrepreneurship, and real estate to students from underserved communities. Since its founding in 2016, Project Destined has worked with more than 4,500 participants in 35 cities across the U.S., the United Kingdom and Europe. Bonaventure welcomes its Fall 2022 mentee group from Georgetown University, Howard University, George Mason University, Virginia State University and George Washington University. “We’re thrilled to be part of the extraordinary work Project Destined is doing to invest in the future of our industry’s leaders and innovators, We look forward to equipping these young students with the insights and skills necessary to understand what goes into forming communities, and are excited to show them a deeper look into our industry in hopes of inspiring their own personal and professional goals.” -Dwight Dunton, founder and CEO of Bonaventure Project Destined leverages a work-based learning approach where students join executives to evaluate actual commercial real estate deals in their community and compete in a pitch competition to industry leaders to earn scholarships. Bonaventure mentors will prepare, engage, and guide students one-on-one to help them develop a range of fundamentals including financial, technical, presentation, and leadership skills designed to aid them in obtaining internships, certifications, and full-time employment, launching their careers in commercial real estate. We are excited to partner with Bonaventure to grow our work in Washington, DC, The Bonaventure team has invested incredible resources to provide this group of students with mentoring, exposure and networking opportunities. We are proud to partner to prepare the students for potential careers in real estate,said Cedric Bobo, Co-Founder of Project Destined. About Bonaventure Headquartered in Alexandria, Virginia Bonaventure is an integrated alternative asset management company specializing in multifamily design, development, construction, asset management and property management with over 6,000 apartment units across 29 communities primarily in the Mid-Atlantic and Southeastern regions of the United States. Since its founding in 1999 by Dwight Dunton, Bonaventure has become one of the top 15 most experienced HUD developers in the nation and has completed $500 million in HUD loans and over $2.25 billion in transactions. With its focus on building enduring value through ingenuity, Bonaventure boasts a full suite of investment capabilities. About Project Destined Project Destined is a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. Project Destined partners with corporations, schools, and non-profits to deliver training using its proprietary e-learning platform and love courses. Project Destined leverages a work-based learning approach where students work with executives to evaluate live deals in their community and present them in a pitch competition to industry leaders. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job and become stakeholders in their community.

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REAL ESTATE INVESTMENT

eXp Realty Continues Global Expansion, Announcing Poland to Open in 2022

eXp Realty | September 19, 2022

eXp Realty®, the fastest-growing global real estate brokerage and the core subsidiary of eXp World Holdings, Inc., today announced plans to expand its real estate operations into Poland. This announcement follows the successful launch of four new markets in 2022 including the Dominican Republic, Greece, New Zealand and Chile with Dubai expected to open soon. Upon launch of these new markets, eXp Realty will have a presence in 24 global markets, including its headquarters in the United States. “Poland’s recent wave of real estate brokerage consolidation speaks to the attractiveness of its property sector for both foreign and domestic investments, With continued rapid growth and resilience in the real estate market, Poland provides eXp Realty an ideal opportunity to establish a strong foothold in the Central and Eastern European region.” -Michael Valdes, Chief Growth Officer eXp Realty’s brokerage operations in Poland will be led by Dorota Chomuntowska who joins the company with more than 11 years of real estate broker experience in Poland and other international markets. eXp has pioneered a new wave of quality and value for the real estate industry, I am honored to lead this expansion in Poland and look forward to introducing eXp Realty to agents across the country,says Chomuntowska. About eXp World Holdings, Inc. eXp World Holdings, Inc. is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises. eXp Realty is the fastest-growing real estate company in the world with more than 84,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand and Chile and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

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