🚨^{🏠 Opendoor Fallout: What Every Realtor Should Know!}

I hope you’re having a great day. I wanted to bring your attention to a recent development that has significant implications for our industry. Opendoor Technologies has just settled a massive lawsuit, refunding $62 million to sellers for misleading them into less profitable sales.

Key Takeaways:

•  FTC Crackdown: The Federal Trade Commission found that Opendoor’s promises fell short, affecting about 55,000 home sellers.

• The Real Deal: Sellers ended up earning less than if they had opted for the traditional market route, aka working with a realtor.

• Settlement Insights: With an average refund of $1,024, the settlement is a loud alarm for both sellers and industry professionals about the hidden costs of iBuying platforms.

This incident highlights the invaluable role of realtors in ensuring homeowners receive fair market value for their properties. If you’d like to get into the nitty-gritty of this article, just shoot me a message!

🧑🏻‍🤝‍🧑🏿Millennials Reclaim Position as Largest Group of Home Buyers

Key Highlights

• Millennials surpass baby boomers and become the largest group of home buyers at 38%.

• Nearly one out of three Gen Z buyers are single females.

• Baby boomers remain the largest generation of home sellers at 45%

WASHINGTON (April 3, 2024) – Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market's demographic landscape, according to the latest report from the National Association of Realtors®.

The 2024 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences among recent home buyers and sellers across generations,¹ found that the combined share of millennials, both younger (ages 25 to 33) and older (ages 34 to 43), now make up a combined 38% of the home buying market, a substantial increase from 28% last year. Baby boomers, comprising both younger boomers (ages 59 to 68) and older boomers (ages 69 to 77), saw their share decrease from 39% to 31%, relinquishing their position as last year's largest demographic of home buyers.👉: Read More 

🔥Latest inflation report comes in hotter than expected (again)

Strong, sticky price growth in CPI dampens hopes of Fed cutting rates in near term

The Consumer Price Index (CPI) came in hotter than expected in March, signaling that inflation remains stubbornly sticky and likely undercutting chances of a rate cut from the Federal Reserve in the near future.

The index, which tracks the average change over time in consumer prices for certain goods and services, was up 0.4% in March on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. That’s flat from February, while year over year, the CPI rose 3.5%, the largest annual gain since September and still handily above the Fed’s 2% goal.👉: Read More 

💥6 Tips for Creating a Great Business Marketing Plan

Marketing campaigns don’t just happen in a vacuum — they should be part of a broad, holistic strategy that works together. Developing a marketing plan is essential to ensure consistent, effective messaging across all marketing channels. From identifying your target audience to fine-tuning your marketing campaigns, a marketing plan serves as guidance to help you succeed. Read on to learn more about how to develop a marketing plan for your small business. 

How to develop a business marketing plan

A focused marketing plan sets two goals. The first is to maintain engagement and customer loyalty, and the second is to capture market share within a specific audience segment of your target audience

Your marketing plan outlines the strategies you’ll use to achieve both goals and the specific actions your marketing team will employ, such as the specific outreach campaigns, over which channels they will occur, the required marketing budget and data-driven projections of their success.👉Read More

🏡Consumer Price Index (March 2024)

Inflation was hotter than expected in March, continuing a trend we’ve seen in recent months, as rising energy and shelter costs added to pricing pressure. While annual inflation still remains well below the peaks seen in 2022, these stubbornly high inflation readings could delay the Fed’s timing for rate cuts this year.

🏛️UWM Accuses Rocket Again Of Ties To Hunterbrook Report

In a statement released on LinkedIn on Tuesday, UWM also offered legal support for its partners.

In a statement released on LinkedIn Tuesday, United Wholesale Mortgage (UWM) continued to defend itself in the court of public opinion against accusations of racketeering and civil conspiracy alleged by borrowers in a class action lawsuit..

The suit, filed on April 2 in Michigan’s Eastern District Court, was brought in conjunction with an investigative report released by Hunterbrook Media on the same day.

UWM’s latest defense, directed towards its partners, targeted the credibility of the Hunterbrook report, alleging that Rocket “has obvious connections” to the release and that the piece has an author “pretending to be a journalist.” UWM also pledged to cover any of its partners’ attorney fees, if they were to “get roped into their frivolous lawsuit.”👉: Read More

🥊Justice Department Can Reopen Realtors Case, Court Rules

(Bloomberg) -- The Justice Department can reopen an antitrust probe into the National Association of Realtors, an appeals court ruled Friday, rejecting a bid by the real estate trade group to enforce a 2020 settlement with the Trump administration to close the case.

“The fact that DOJ ‘closed its investigation’ does not guarantee that the investigation would stay closed forever,” the US Court of Appeals for the DC Circuit wrote in a 2-1 decision. “The words ‘close’ and ‘reopen’ are unambiguously compatible.”

Former President Donald Trump’s administration in November 2020 reached a settlement with the group to end an antitrust investigation into its policies. 👉: Read More

The Fast and Fun

🥃Hans Island and the “Whiskey War”👉 Read More

🌳If you ever wanted your own castle, now’s the time to buy 👉 Read More

🏠This week’s “Not a bad shack” on Zillow See Here

First-time homebuyers:
Get up to $5,250!

There’s no greater feeling than moving into your first home. Getting the keys, opening the front door, making the home your own – all things we want you to experience!

CCM Smart Start will contribute up to $5,250 toward those good feelings. With CCM Smart Start, we’ll cover 2% of the purchase price (up to $5,250) for the down payment so your homeownership dream can come to life.
_{For terms and conditions}👉_{: https://crosscountrymortgage.com/loan-types/programs/ccm-smart-start/}

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