Guardian Residential Lending Industry News, January 10-17, 2019

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In the Know: A Roundup of This Week’s Local and National Real Estate Stories 

Please click on the below headlines for links to each story.

Zillow to begin buying, selling homes in 5 new markets in 2019 (Housing Wire, Jan. 17)

Zillow will begin buying and selling homes through its Zillow Offers program in five new markets in 2019: Miami, Minneapolis-St.Paul, Nashville, Orlando and Portland. Sellers in these markets can request cash offers from Zillow to buy their home.

10 hottest affordable neighborhoods in America for 2019 (CNBC, Jan. 16)

Owning a home is often cited as one of the best ways to build wealth, and real estate site Redfin recently revealed America’s hottest affordable neighborhoods to buy in 2019 — they are on the outskirts of major metros, like Philadelphia and Baltimore. No. 5 is Fircrest, Vancouver, Washington (Portland, Oregon metro area)

Millennials really don’t get how down payments work (National Mortgage News, Jan. 16)

More than one-third of millennials said saving for a down payment is the biggest hurdle to buying a home, but few seem to realize they don’t need to put 20% down to get a mortgage, a recent study found.

These are the nation’s most competitive housing markets (Housing Wire, Jan. 15)

Do you want to purchase a home in Denver or Los Angeles? Well, you might need some luck on your side, as these housing markets are among the most competitive in the country. And Portland ranks number 3. 

NAR: American dream of homeownership is still alive (Housing Wire, Jan. 14)

Although tightening affordability continues to be a deterrence to homeownership, data suggests Americans still strongly consider it to be a part of the American dream, according to the National Association of Realtors. In fact, according to NAR’s Aspiring Home Buyers Profile, approximately 75% of non-homeowners and 90% of current homeowners said homeownership was essential to the American Dream.

Time to say goodbye to rate hike possibilities in 2019? (Housing Wire, Jan. 11)

As 2019 begins, many experts and even Federal Reserve members predict that the Fed is done raising interest rates, at least for 2019. During the Fed’s most recent two-day December meeting, it elected to raise interest rates for the fourth and final time in 2018. Before the meeting, the Fed had raised rates three times in 2018 – the first time in March, again in June and finally in September. And while some think the Fed has at least a couple more rate hikes to go in 2019, others aren’t so sure.

The housing market’s future is female (Housing Wire, Jan. 11)

The housing market is projected to heat up in 2019, and new data from Realtor.com indicates this push will predominantly be driven by Millennial women. According to the company’s latest study, 50% of the top 20, and seven of the top 10, fastest growing buyer first names belong to Millennial women.

American homeownership tenure is climbing (Housing Wire, Jan. 11)

Americans are remaining in their homes longer than ever before, consequently tightening the lid on housing supply. First American data indicates that homeownership tenure has risen 10% just from 2017 and has significantly climbed since the market crashed in 2008.

Trends show 2019 Homebuyers will be Largely Female, Millennial and Hispanic (Realtor Magazine, Jan. 10)

The most popular names in transactions show that women, millennials, and Hispanics are shaping up as dominating forces in the housing market, according to a new analysis from realtor.com®. Ten of the top 20 and seven of the 10 fastest-growing buyer first names are mostly millennial female names, researchers found. Home deeds that contained predominantly millennial first names rose 5.3 percent year over year. Home sales associated with traditionally Hispanic first names increased 4.1 percent year over year.

Gary Keller returns as CEO to lead Keller Williams (Housing Wire, Jan. 10

In a note to employees, Keller Williams Co-founder Gary Keller announced he will be reassuming the role of CEO at the real estate company, effective immediately. Keller, who also serves as the company’s chairman, announced that as the company continues its technology transformation, he is stepping back into the role to lead the real estate industry “into the future.”

How a recession could impact the housing market (Curbed, Jan. 10)

The fundamentals of the housing market are strong. But is it recession-proof? It’s somewhat counter-intuitive, but recessions don’t necessarily mean bad things for the housing market. In fact, they usually don’t.

Marketing Insight

40+ Video Marketing Statistics for 2019 [Infographic] (Social Media Today, Jan. 14)

Yes, you’ve heard it before – video is key to optimal social media marketing. Mark Zuckerberg’s been saying it for years, and the stats reflect this shift. If you’ve not considered adding video into your overall digital strategy, you’re likely missing out, and with more options than ever for creating good-looking, professional video content, you really do need to be considering its place in your process.

Just for Fun

Hunker down in your own Hobbit House for $275K (Curbed, Jan. 17)

Earth-bermed architecture isn’t for everyone. But if you’ve dreamed of your own hobbit hidey-hole, check out this affordable two-bedroom, two-bath house on 3.4 acres of forest in Wisconsin.

 

Thanks for reading!