Good News and Bad News

As usual, how things are going in the real estate market depends a lot on your point of view, and individual goals. One thing that stands out this year is that according to the Wall Street Journal, we’ve had the biggest yearly decline of mortgage applications on record. From a cutthroat spring to dramatic mortgage rate hikes, and the subsequent decline in real estate sales, it’s no wonder there’s been such a dip in activity over the course of the year. In October, metro Denver sales were down by 40% from October of last year! Although, it’s not all doom and gloom. In fact, at the same time this W.S.J. headline came out about the dramatic decline in mortgage applications, mortgage rates went down by half a percentage point in the same week. The reason? News came out that inflation may have finally hit its peak and seems to be on the decline now!

Give your real estate business an immunity boost with marketing advice and strategies from top digital creators at Inman Connect New York Jan. 24-26, 2023.

If you’re serious about growing your business, this plan is for you. Jimmy Burgess goes over seven different activities, with a specific number of repetitions for each activity, that will produce results in any market environment.

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Working up a sweat has been good business for Kevin Plank, founder of the sportswear company Under Armour.

As chairman of the business he founded in 1996, Plank has worked his way up from selling wick-away shirts in his grandmother’s basement to achieving a net worth exceeding $1 billion.

Along the way, the 50-year-old picked up some ritzy real estate in Park City, UT, which he’s now ready to trade to anyone who has $21,500,000.

Majestic in location and massive in scale, this five-bedroom, 6.5-bath mansion offers nearly 6,900 square feet of living space designed for members of the jet set who love to schuss.

This week’s properties are in Bushwick and on Roosevelt Island and the Upper West Side.

This week’s properties are a four-bedroom in Garden City, N.Y., and a five-bedroom in Norwalk, Conn.

Since the start of the pandemic, the average U.S. renter is working six hours more each month to cover housing costs.

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There are two kinds of approaches to decorating for the holidays: Either you start pulling the lights out of storage before summer even turns into fall, or you deck the halls mere days—maybe hours—before Santa Claus arrives.

But regardless of how early you start decorating for Christmas, there’s a good chance you’re tired of looking at the same red and green plaid Christmas tree skirt year after year. (We know, because we are, too.)

There will always be room for those beloved decorations you pull out year after year. But if you’re ready for something new, we’re here to help. We’ve polled designers from coast to coast on the holiday decor trends that are out—and what’s taking their place.

Just make sure that whatever you do, you stay true to yourself.

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As the housing market barrels toward the end of the year and all of its holiday trimmings, potential homebuyers are likely wondering what’s in store for the coming season.

Home shoppers looking for lower asking prices can officially check that off their wish list. November’s median home list price of $417,000 was much more wallet-friendly than June’s record high of $449,000, according to a recent report from Realtor.com®.

Yet the volatile real estate landscape is not quite ready to bring only glad tidings. High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front.

“Even though prices are down month to month, they’re still up by double digits from a year ago,” says Danielle Hale, chief economist of Realtor.com.  “And with mortgage rates also up, buying a home is more expensive than last year.”

You and your brokerage must always look ahead, stay nimble and anticipate the needs and expectations of tomorrow’s clients.

This week the spotlight shines on Leslie Guiley, managing broker of Side Inc. Arizona. Find out how she got her start and grew her business not just once but twice.

He had his eye on architectural details and rental revenue. She wanted a close-knit community and a space with room for the grand piano that started their relationship. Here’s what they found.

Strong leadership isn’t about never making mistakes, Livian CEO Adam Hergenrother writes. Here are the dos and don'ts that leaders should heed as we head into the new year.

The data does not suggest a steep drop in home prices is imminent, according to the report, but shows that different areas are facing lower and more elevated levels of risk as the U.S. economy remains in an uncertain area.

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A harmonious home built for musicians is on the market in Oberlin, OH. You can scoop it up for $1 million.

The spectacular style of the two-bedroom dwelling was the talk of the town when it was custom-built in 2004 for a married musician couple.

The eye-popping property has again created a buzz now that it has come up for sale.

Highlights include a magnificent open performance area, custom cabinetry from Ferrari, and the natural surroundings.

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For a buyer on the hunt for a divine dwelling, we’ve found an opportunity in upstate New York. This building on a corner lot in the small town of Guilford is simply heavenly.

The 1,784-square-foot structure began its life as a church, was then transformed into a restaurant, and is now a single-family home.

On the market for $359,000, the converted chapel awaits its next owner.

“This [building] replaced an old wooden 1800s church that sat on the same foundation and burned down in the 1920s,” explains listing agent Jonathan Dokuchitz, with Keller Williams. “They rebuilt this church in the 1930s out of stone, because they wanted this one to last.”

Daryl Fairweather also said during her Yahoo Finance appearance that "demand is very weak" as both homebuyers and sellers take a breather from the housing market.

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A classic New England farmhouse in Union, CT, is the oldest property to hit the market this week on Realtor.com®.

The sprawling home on 10 acres could be used as a single-family residence or turned into a bed-and-breakfast. The four-bedroom home comes with a workshop and greenhouse, as well as a custom pool, hot tub, and barbecue area.

Other vintage gems on the market this week include an affordable saltbox in Connecticut, a well-preserved farmhouse in Maine, and a Spanish Colonial in Puerto Rico.

Scroll down for a full look at this week’s 10 oldest homes.

Subsidiary of First Community Bank of Tennessee has also been recognized for its efforts to reach a diverse population of borrowers.

Broward, Palm Beaches and St. Lucie Realtors' "Only a Realtor" commercials are a "local contribution to creating a national movement," the association says.