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Real Estate News

Opendoor raises $325 million, plans nationwide expansion | HousingWire
HousingWire | June 21, 2018
One of the biggest players in the growing direct homebuyer segment is about to get much, much bigger. Opendoor, an online marketplace that buys homes directly from homeowners, announced Wednesday that it secured $325 million in new funding and is planning a nationwide expansion of its homebuying pla...
These are the 5 issues impacting real estate right now | HousingWire
HousingWire | June 21, 2018
The Counselors of Real Estate, an advisory organization that monitors real estate, released its latest report detailing the top 10 issues affecting the real estate industry. This year, the organization divided its annual list to focus on five issues currently impacting the industry and five issues t...
Homes are More Affordable in 44 out of 50 States | KeepingCurrentMatters
KeepingCurrentMatters | June 21, 2018
With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, if we compare housing affordability today to the average affordability prior to the housing boom and bust, we are in ...
Parents Say Kids’ Opinions Matter Big When Buying a Home | KeepingCurrentMatters
KeepingCurrentMatters | June 21, 2018
A recent survey conducted by Harris Poll and released by SunTrust Mortgage found that “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision.”
Faith in multifamily still strong despite month-over-month drop in permits | HousingWire
HousingWire | June 20, 2018
According to U.S. Census and HUD data, multifamily permits dropped 8.7% from April to May, and though that may sound like a significant drop, experts say the multifamily train is still rolling and that the nation is on track to complete 350,000 plus units by year’s end. And that's a good thing.
[VIDEO] Childless Millennials threaten Baby Boomer housing empire | HousingWire
HousingWire | June 20, 2018
The United States birth rate recently dropped to an all-time low, threatening Baby Boomer real estate and retirement plans. The economy may be the leading factor as to why Millennials are either refraining from or waiting to have children, according to a recent article in Forbes.
Existing home sales suffer from inadequate supply | HousingWire
HousingWire | June 20, 2018
Although the Northeast saw an uptick in sales, nationally existing home sales fell back for the second straight month in May. One expert says, supply is woefully inadequate to meet demand, pushing prices ever higher and contributing to mounting affordability woes.
3 Issues Facing Today’s Real Estate Market | KeepingCurrentMatters
KeepingCurrentMatters | June 20, 2018
Last week, the National Association of Real Estate Editors (NAREE) held their 52nd Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called “Top Ten Issues Affecting Real Estate™,” given by Joseph Nahas, Jr., Chair of the Counselors of Real ...
Flat-fee real estate company Home Bay expands to Arizona and Virginia | HousingWire
HousingWire | June 20, 2018
Home Bay, a growing flat-fee real estate company, is set to grow again. Home Bay, which started in California, now offers real estate services for a flat fee in Florida, Georgia, Illinois, Texas, Colorado, California, and now Arizona and Virginia as well.
NYC ordered to resolve “unacceptable, illegal” public housing conditions | HousingWire
HousingWire | June 19, 2018
A new federal complaint alleges the affordable housing conditions in New York City are not decent, safe, sanitary or even legal. But that is about to change. A new consent order will require the city to pay at least $1.2 billion or more until its “unacceptable, illegal” living conditions are res...
Housing construction modestly grows despite rising costs | HousingWire
HousingWire | June 19, 2018
Although construction slightly increased in May, construction prices prove to be a deterrence to growth, according to the latest report from the U.S. Census Bureau. One expert states that more jobs could possibly lead to an increase in production, however, builders are still worried about the increa...
New York man admits to rigging local elections in effort to develop real estate | HousingWire
HousingWire | June 19, 2018
Last year, two New York real estate developers, Kenneth Nakdimen and Shalom Lamm, pleaded guilty to interfering with a mayoral election in Bloomingburg, New York, including using fake voters, to try to advance stalled construction projects. Now, a third member of the conspiracy has also admitted to ...
A new multifamily consultation firm enters the ring in New York | HousingWire
HousingWire | June 19, 2018
A new multifamily real estate company launched in New York today. Bloomstone Group, a full-service real estate advisory firm, will offer its services in consulting, development, marketing, sales and leasing for multifamily residential projects and condominium properties.
Can cryptocurrencies change real estate transactions? | HousingWire
HousingWire | June 19, 2018
As the cryptocurrency craze shows no sign of slowing down, there is an increase of real estate professionals using cryptocurrencies in real estate transactions. One of the newcomers is Engelo Rumora, who recently explained how he closed a real estate deal that used a cryptocurrency as a down payme...
Trump makes health care more affordable for small businesses | HousingWire
HousingWire | June 19, 2018
Tuesday, the Department of Labor announced its new rule which experts in the housing industry say will making health care more affordable for small businesses. The department announced a new rule that will change the definition of employer to include working owners for Association Health Plans.
It’s official: Net neutrality dies in the U.S. | HousingWire
HousingWire | June 19, 2018
Despite votes in Congress and efforts from advocacy groups, net neutrality officially ended Monday. From the beginning, real estate advocacy groups and companies have opposed the rollback, saying the changes to net neutrality create an unlevel playing field for small business owners.
Days on The Market Drops to New Low in April | KeepingCurrentMatters
KeepingCurrentMatters | June 19, 2018
According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.
Top 5 Reasons You Shouldn’t FSBO | KeepingCurrentMatters
KeepingCurrentMatters | June 19, 2018
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Texas real estate agent posts $1.9B in home sales in 2017 | HousingWire
HousingWire | June 19, 2018
Ben Caballero, world record holder, first-ever billion dollar real estate agent and president and CEO of HomesUSA posted $1.9 billion in sales in 2017, setting a new world record for home sales in a single year. How did he create this sales volume? Read to find out.
FHLBank Pittsburgh, Pennsylvania Housing Finance Agency partner to deliver funding to fight homelessness | HousingWire
HousingWire | June 18, 2018
Federal Home Loan Bank Pittsburgh and the Pennsylvania Housing Finance Agency are partnering to create fund programs that help fight homelessness and assist people at risk of losing their housing. Home4Good, a housing entity aimed at ending homelessness in the state of Pennsylvania, just got $4.5 mi...
FirstClose announces integration with Chicago Title Insurance Company | HousingWire
HousingWire | June 18, 2018
FirstClose, a provider of technology solutions for mortgage lenders, announced its integration with Chicago Title Insurance Company. The FirstClose Report will provide financial institution clients with Chicago Title’s property search, legal and vesting products and services.
San Diego Homeowners Association wins $2.9M construction defect lawsuit | HousingWire
HousingWire | June 18, 2018
The San Diego Homeowners Association was awarded $2.975 million in damages from a construction defect suit. The Naumann Law Firm filed the lawsuit in the San Diego County Superior Court on behalf of the homeowners association against the unnamed developer of a 230-unit condominium built in 2004 to 2...
WEST appoints Marty Frame as chief operating officer | HousingWire
HousingWire | June 18, 2018
WEST, a Williston Financial Group recently announces the appointment of Marty Frame as chief operating officer. Frame will focus on strategic mergers and acquisitions, product development, project coordination and all general operational activities for WEST.
Monday Morning Cup of Coffee: Trump to nominate Kathy Kraninger to lead CFPB | HousingWire
HousingWire | June 18, 2018
On Saturday, the White House confirmed that President Donald Trump will nominate Office of Management and Budget official Kathy Kraningen to lead the Consumer Financial Protection Agency. Plus, Zillow and Trulia are hit with a patent infringement lawsuit and megabanks are set to pay out more than $1...
How A Lack of Inventory Impacts the Housing Market | KeepingCurrentMatters
KeepingCurrentMatters | June 18, 2018
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. The market will continue to strengthen i...
Inspirato enters luxury single-family home market | HousingWire
HousingWire | June 18, 2018
Inspirato is making the jump into the single-family rental realm/ownership with a new business arm, Inspirato Real Estate. It is marketing homes as rental investments within its portfolio for people who are looking to buy a vacation home but are hesitant for fear of losing money on the home or never...
CoreLogic: Home equity gains top $1 trillion in first quarter | HousingWire
HousingWire | June 16, 2018
Home equity increased 13.3% in 2018 for mortgage borrowers, representing a gain of $1.01 trillion since 2017. CoreLogic President and CEO Frank Martell said he predicts that strong economic growth and higher purchase demand will continue to raise home equity balances across the nation.
Midland, Texas is the hottest housing market in U.S. | HousingWire
HousingWire | June 16, 2018
Ousting California markets for the second month in a row, Midland, Texas ascends to the top of the pack. More affordable markets are heating up as California's fever begins to break.
More homebuilder consolidation: Century Communities buys Wade Jurney Homes | HousingWire
HousingWire | June 15, 2018
The consolidation of the homebuilding industry continues. Last week, Taylor Morrison announced that it is acquiring fellow homebuilder AV Homes in a deal valued at nearly $1 billion. Next up is Century Communities, which announced Friday that it is acquired the remaining 50% of Wade Jurney Homes in ...
NAHB: Lumber tariffs increasing cost of homebuilding | HousingWire
HousingWire | June 15, 2018
One question the homebuilding industry is faced with, especially while housing inventory remains low, is why hasn’t there been a larger response from the homebuilding industry to add more homes to the market? According to the NAHB's chief economist, one of those reasons is the rising cost of lumbe...
#TimesUp for real estate investor Sam Zell | HousingWire
HousingWire | June 15, 2018
I’ve seen all the latest updates on the #TimesUp and #MeToo movements, yet it somehow manages to shock me each time I hear of something new happening. On a recent National Association of Real Estate Investment Trusts panel, real estate investor Sam Zell made some shocking comments. So when is enou...
HousingJobs blog: Affordable housing crisis affects the job market | HousingWire
HousingWire | June 15, 2018
Job hunting can be frustrating. At HousingWire, we want to make the process easier for job seekers in the industry. Our new service, HousingJobs, lists the latest gigs in the housing industry for loan officers, underwriters, processors, loan servicers, and tech and marketing pros. Check out this we...
Homebuilder merger: Taylor Morrison buying AV Homes in nearly $1 billion deal | HousingWire
HousingWire | June 15, 2018
There’s about to be more consolidation in the homebuilding industry. Last year was all about Lennar, which acquired WCI Communities, a Florida-based luxury homebuilder, for $963 million, and later, bought CalAtlantic Group in a $9.3 billion deal that created the nation’s largest homebuilder. Now...
Ben Carson breaks ground at HUD's first EnVision Center | HousingWire
HousingWire | June 15, 2018
U.S. Department of Housing and Urban Development Secretary Ben Carson traveled to his hometown of Detroit for the groundbreaking of the agency's first EnVision Center. Carson also announced the first round of EnVision Center designations in 17 communities nationwide.
Realtor.com ends relationship with Apartment List, will use Apartments.com for rental listings | HousingWire
HousingWire | June 15, 2018
Realtor.com is terminating its content partnership with Apartment List, ending the relationship between the two companies after only six months. Apartment List's listings began appearing on Realtor.com in January, but now, those listings will soon disappear. Instead, Realtor.com is partnering with...
The art of real estate appreciation | HousingWire
HousingWire | June 15, 2018
Many things contribute to the coastal California MSA of San Diego-Carlsbad-San Marcos. In addition to its near-monotonous temperate climate, growing economy, point-of-entry position, the huge Marine and Naval installations that are again benefiting from increased military spending, the area boasts a...
Realogy appoints Katrina Helmkam as Cartus CEO | HousingWire
HousingWire | June 15, 2018
Realogy Holdings Corp. appointed Katrina Helmkamp as chief executive officer of Cartus Corporation. Helmkamp will be responsible for improving Cartus' performance, while leading technology and process transformation.
Minimum wage, minimum housing prospects | HousingWire
HousingWire | June 15, 2018
[Op-ed] If you make minimum wages, chances are you have limited housing prospects. The maximum affordability for most low income renters is $660 a month, but they need to make at least $22.10 in order to rent a modest 2-bedroom apartment. Sadly, most market-rate apartments in every U.S state continu...
Apartments.com and Realtor.com join forces | HousingWire
HousingWire | June 14, 2018
Apartments.com and Realtor.com are teaming up to share content. Parent companies CoStar and Move shook hands and announced today that they will sally forth together with shared content on their subsidiary websites.
Zillow to feature Canadian listings, eh! | HousingWire
HousingWire | June 14, 2018
Zillow is angling to make a foray into Canadian real estate, partnering with Century 21 Canada to set up a direct listing feed.