With this increased volume in new areas, are companies hiring more staff, or relying on tech to increase efficiencies?
Hello title readers —
The lack of housing inventory across the country is causing huge headaches for real estate agents and buyers having to compete with multiple offers. While this has been the norm in big coastal cities for years, 2020 changed the calculus of where people can work, and as a result, where demand is soaring.
We've written stories over the last year on unlikely new hot spots, includingSacramento,Boise, Des Moines andAustin, where tech workers are taking advantage of lower prices. Of course, their interest sparks new demand, raising home prices for the people already living in those cities.
And it's not just tech hubs seeing competition. The flight to vacation destinations, from luxury mountain towns to Florida beach towns — is still going strong in 2021.
Last week, a report from Redfin showed that the 10 counties with the largest uptick of homebuyers — and, subsequently, home value — are all in either vacation destinations or (relatively) affordable suburbs of big cities.
No doubt title and settlement agents in these areas are feeling the pressure as well. With this increased volume in new areas, are companies hiring more staff, or relying on technology to increase efficiencies with current staff levels? Let me know what your company is doing at swheeler@housingwire.com.
Many of our younger leaders and executives are about to experience their first true, prolonged purchase market. But I'm surprised how many treat this as a threat. There is no doubt that lender success in a purchase cycle requires more effort, more cost and more planning, but there's still amazing opportunity available for firms that execute well.
We're a year into the pandemic, and while smart policy has delayed a default wave, the threat still looms large. Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. Presented by Sagent Lending Technologies
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