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Adios, Quicken Loans; NYC Mayor fail; Verizon finding 🤔

By May 13, 2021 No Comments

Quicken Loans rebrands as Rocket Mortgage

The iconic legend is being retired, in some ways.

Quicken Loans, America's largest mortgage lender and a part of Rocket Companies announced it will officially change itsname to Rocket Mortgage on July 31. 

This change will bring alignment to the overall “Rocket” brand, while also making it clear to homebuyers that technology,

 a core tenet of Rocket Companies, is injected throughout the entire homebuying lifecycle – from home search to mortgage closing, the company said in a statement.

Rocket Mortgage was first revealed to the world in a 2016 Super Bowl ad that built significant buzz for the new home loan experience. 

The name stuck and continue to gain prominence. Further, the rebrand comes at a time when many lenders are looking to redefine how their businesses are perceived. This is one such tactic and it makes sense.

However, while newsworthy, the Rocket Mortgage rebrand is not likely to capture the attention that Nationstar garnered when it rebranded to Mr. Cooper. Now, THAT was an epic event that no one can forget.

🤣 MEME of the day 🤣

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NYC mayoral candidates have no idea how much homes costs

Well, this is embarrassing.

Two candidates for NYC mayor were asked about median home sales prices in the city. It didn’t go very well.

Shaun Donovan and Raymond J. McGuire, candidates for mayor of New York, were way, way off when asked to estimate the median home price in the borough of Brooklyn, one of five in New York City, the city they seek to run.

“In Brooklyn, huh? I don’t for sure,” Shaun Donovan, who has touted his experience as housing secretary under President Barack Obama and housing commissioner under Mayor Michael R. Bloomberg, answered. “I would guess it is around $100,000.”

$100,000? For a home, in Brooklyn? How about ANYWHERE, Shaun. 

As a former housing secretary, how did you miss getting closer to the right answer? The average home in Brooklyn is more like $900,000!

The guess from Raymond J. McGuire, an investment banker and former executive at Citigroup who has sought to woo voters with his financial acumen, included similar numbers.

So that begs the question: what does $100,000 buy in Brooklyn?

As several people pointed out on social media, among the things that can be purchased in Brooklyn for $100,000 or less, according to the website Zillow: a parking space and two vacant lots.

🔥 Operation VA and honorary guest John McDade 🔥 

With Josh Pitts, John McDade, & Bryan Bergjans

Verizon study: Homebuyers want 5G internet access and they are willing to pay for it

Well, we suspect the pandemic had a big impact on the following story: Change our minds.

Verizon released findings of a new study detailing U.S. homebuyers’ connectivity preferences following a turbulent year of remote working and learning. 

The study, conducted in partnership with Morning Consult, found that access to high-speed home internet and fast, reliable cell service at home is a must-have for homebuyers.

Nearly 8-in-10 American homebuyers surveyed believe 5G home internet and access to a 5G cell network increased a home’s value

The overwhelming majority of those shopping for a home say access to 5G home internet (77%) and 5G cell network (75%) make a home more valuable.

Surveyed real estate agents agree that home values are positively impacted by access to 5G home internet (75%) and 5G cell network (73%).

In fact, 90% of prospective homebuyers say it is important that their new home have fast home internet and good cellular service. 

That makes connectivity a higher priority for homebuyers than proximity to good schools (64%), commute time (66%), modern appliances (86%), or nearby attractions and amenities (85%).

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