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Real Estate News

Churches are taking on the affordable housing crisis | HousingWire
HousingWire | October 20, 2018
Churches are taking a position on the frontlines of the affordable housing crisis, using their land to create new affordable housing developments. According to a report from Reuters and the World Economic Forum, churches around Washington, D.C., have begun to cobble together a new source of affordab...
Trulia: Home price cuts reach 4-year high | HousingWire
HousingWire | October 20, 2018
The latest data from Trulia reveals that U.S. listings with a price cut increased to the highest level since 2014. Trulia Housing Economist Felipe Chacon said buyers should be encouraged by the signals in the market, however not every buyer will benefit equally.
Harvard: Housing market slowdown will dampen renovation boom | HousingWire
HousingWire | October 19, 2018
American spending on home improvements and repairs has seen steady growth as the slow housing market has convinced many to stay put and renovate instead. But this growth is expected to slow in the coming year, according to a new report released by the Joint Center for Housing Studies of Harvard Univ...
With existing home sales at a three-year low, are more people turning to renting? | HousingWire
HousingWire | October 19, 2018
With home prices and interest rates both on the rise, will more people look to renting as their only “affordable” option for housing? It looks like that might already be happening. Here's a deep dive into what's happening right now.
NAR: Existing home sales fall to 3-year low | HousingWire
HousingWire | October 19, 2018
After experiencing a flat August, existing home sales retreated in September, falling to the lowest level in nearly three years. NAR Chief Economist Lawrence Yun said that the decline in regional sales can be attributed to rising interest rates and the continuing climb of home prices.
Co-living startup Starcity to build two ground-up projects in the Bay Area | HousingWire
HousingWire | October 19, 2018
Co-living startup Starcity announced that it is building two ground-up co-living developments in the Bay Area: one in San Francisco and one in San Jose. Together, the projects will bring 1070 units to the Bay Area.
Could shipping containers really solve most of housing's problems? | HousingWire
HousingWire | October 19, 2018
As catastrophic storms continue to terrorize the nation, homeowners in storm-prone areas are looking for new ways to keep their families safe. Brooklyn-based SG Blocks is answering this call, crafting shipping containers as means of reliable housing.
Bainbridge Companies hires five new executives to position for growth | HousingWire
HousingWire | October 19, 2018
Luxury multifamily firm Bainbridge Companies, recently hired five members to its executive team in support of its growth initiatives in the Mid-Atlantic region. As the single-family industry struggles to prop up sagging originations and fight low inventory, resulting in a tough season full of layoff...
20 Tips for Preparing Your House for Sale This Fall [INFOGRAPHIC] | KeepingCurrentMatters
KeepingCurrentMatters | October 19, 2018
Some Highlights: When listing your house for sale, your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for ma...
Dispelling the Myth About Home Affordability | KeepingCurrentMatters
KeepingCurrentMatters | October 19, 2018
We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever wondered why the headlines don’t say the last 25 years, the last 20 years, or even the last 11 years?
Former LandCastle Title CEO Nat Hardwick found guilty of embezzling $26 million | HousingWire
HousingWire | October 18, 2018
Nathan (Nat) Hardwick, the former chief executive officer of LandCastle Title and former managing partner of Morris Hardwick Schneider, was found guilty late last week of embezzling more than $25 million from his former companies, bringing an end to a massive scandal that destroyed a prominent real ...
Taylor Morrison Home Funding integrates LodeStar tech | HousingWire
HousingWire | October 18, 2018
Taylor Morrison Home Funding integrated with LodeStar Software Solutions to quickly and accurately quote closing costs on new-home construction properties. Under the new partnership, Taylor Morrison Home Funding employees can obtain quotes instantly through Ellie Mae’s Encompass digital mortgage s...
Class Appraisal names Gary Ferguson as its new CTO | HousingWire
HousingWire | October 18, 2018
Class Appraisal named Gary Ferguson as its chief technology officer to spearhead its pursuit of tech solutions. Ferguson has 20 years of experience in enterprise application development and has spent most of his career in the mortgage industry. Prior to joining Class Appraisal, Ferguson was CTO at C...
BMO Harris confirms face-to-face mortgage employee layoffs | HousingWire
HousingWire | October 18, 2018
BMO Harris recently confirmed that it is indeed cutting back its face-to-face mortgage operations with a round of layoffs. According to The Chicago Tribune, the company still won’t put a number on the amount of jobs it will eliminate but the Milwaukee Journal Sentinel said it could be 170 jobs bas...
Vacation rental management company Vacasa raises $64 million | HousingWire
HousingWire | October 18, 2018
Vacasa, which bills itself as the “largest vacation rental company” in North America, recently raised $64 million to power its future growth. According to the company, despite its size, the company only represents 2% of the total vacation rental market. And it views that as a big opportunity mov...
Is the Increase in Inventory a Bullish or Bearish Sign for Real Estate? | KeepingCurrentMatters
KeepingCurrentMatters | October 18, 2018
In a recent article, National Housing Inventory Crisis Reaches Inflection Point, realtor.com reported that: New listings jumped 8% year-over-year nationally, the largest increase since 2013 Total listings in the 45 largest markets are now up 6% on average over last year
New Home Sales Up 12.7% From Last Year | KeepingCurrentMatters
KeepingCurrentMatters | October 18, 2018
According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).
6 Questions with 6 HUD Executives, Ep. 5: Assistant Secretary Anna Maria Farias | HousingWire
HousingWire | October 17, 2018
Anna Maria Farias shares a special bond with Department of Housing and Urban Development Secretary Ben Carson. Farias also grew up in public housing. She, like Carson, fought hard to achieve a greatness unparalleled. Farias was the child of a single parent who struggled to make ends meet, and she w...
Washington Post: HUD staffer shuffled to new agency, confusion and suspicion reigns | HousingWire
HousingWire | October 17, 2018
In a highly unusual move, U.S. Department of Housing and Urban Development Assistant Secretary Suzanne Israel Tufts was moved to the Interior Department to serve as acting inspector general overseeing four investigations into Secretary Ryan Zinke’s conduct.
Multifamily volatility drags down housing starts | HousingWire
HousingWire | October 17, 2018
Housing starts decreased 5.3% in September, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Scott Volling, Principal, PwC said regional results indicate that weather may have had an impact on housing starts.
AFR Wholesale announces partnership with Floify | HousingWire
HousingWire | October 17, 2018
AFR Wholesale and Floify announced Wednesday both companies shook hands on a partnership, and AFR will now use Floify’s point-of-sale technology. AFR’s goal in partnering with Floify is to reduce origination time and increase broker productivity.
RealPage to pay $3 million to settle FTC allegations of faulty tenant screenings | HousingWire
HousingWire | October 17, 2018
RealPage will pay $3 million in a settlement with the Federal Trade Commission, which accused the real estate tech and data company of providing landlords and property managers with faulty tenant screening results over a five-year period. According to the FTC, RealPage’s screening reports could h...
Zillow's Amy Bohutinsky to step down from COO role, joins board of directors | HousingWire
HousingWire | October 17, 2018
Zillow announced that one of its longtime team members, Chief Operating Officer Amy Bohutinsky, will be stepping down from her role at the end of the year and has been selected to join the company’s board of directors.
Redfin hires behavioral economist from Amazon | HousingWire
HousingWire | October 17, 2018
Real estate brokerage Redfin announced Daryl Fairweather has joined the company as its chief economist. The company explained that Fairweather, who joins the company from Amazon, will work closely with Redfin's business leaders and agents to better understand the behavior and mindset of homebuyers ...
What’s Going On With Home Prices? | KeepingCurrentMatters
KeepingCurrentMatters | October 17, 2018
According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.
5 Tips for Starting Your Home Search | KeepingCurrentMatters
KeepingCurrentMatters | October 17, 2018
In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared.
NYT: U.S. federal budget deficit soars 17% in 2018 | HousingWire
HousingWire | October 16, 2018
Last year, the deficit was $666 billion and, at its current rate of growth, it could balloon to over $1 trillion before the next presidential election.
Veros: Washington, Nevada will see most home value appreciation next year | HousingWire
HousingWire | October 16, 2018
Valuations provider Veros predicts seven of the 10 top-appreciating markets in the next 12 months will be in Washington and Nevada, and that the most populated metro areas will see a 4.5% uptick in appreciation. "We are forecasting that the overwhelming number of metros across the nation, approximat...
Zillow to launch buying and selling operations in Charlotte and Raleigh | HousingWire
HousingWire | October 16, 2018
Zillow announced it is expanding its home buying and selling operations into Charlotte and Raleigh. The additions bring Zillow’s burgeoning home buying and selling operations to six markets nationwide. The program launched in Phoenix in April, then moved on to Las Vegas and Atlanta, with Denver se...
Homebuilder confidence increases slightly in October | HousingWire
HousingWire | October 16, 2018
Homebuilder confidence rose one point to 68 in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index. "Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," NAHB Chairman Randy Noel said.
Wells Fargo, Bank of America reveal true impact of digital mortgages | HousingWire
HousingWire | October 16, 2018
Both Wells Fargo and Bank of America rolled out digital mortgage applications this year, and the megabanks revealed Tuesday just how much the programs are already being utilized by mortgage applicants. Hint: A lot. Click the headline to find out just how many.
MBA Annual Alert: Quicken, loanDepot leaders see fintech barrier to Amazon buy-in | HousingWire
HousingWire | October 16, 2018
Rumors have long swirled that Amazon has eyes on the mortgage business, but industry leaders say it's unlikely the company will dive in just yet. At the MBA Annual on Tuesday, Hsieh and Emerson said there's still too much chaos in the space, but predict that fintech is on the verge of changing all t...
Millennials now prioritize homeownership over starting a family | HousingWire
HousingWire | October 16, 2018
Bank of America reveals that 70% of Millennials are now prioritizing homeownership above other major life milestones, including starting a family. According to the study, Millennials equate homeownership with personal and financial success.
Joel Kan: 3% to 4% growth predicted for the purchase market | HousingWire
HousingWire | October 16, 2018
The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage...
The True Cost of NOT Owning Your Home | KeepingCurrentMatters
KeepingCurrentMatters | October 16, 2018
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.
Baby Boomers are Downsizing, Are You Ready to Move? | KeepingCurrentMatters
KeepingCurrentMatters | October 16, 2018
For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be getting the blame?
Janet Yellen: Economy's strong run could last through 2019 | HousingWire
HousingWire | October 15, 2018
At the MBA's Annual on Monday, former Federal Reserve Chair Janet Yellen told the crowd there are strong indicators that the economy is in a good place. But, she does warn of a few potential flies in the ointment, like overly zealous deregulation, shadow banking and an overheated economy.
Hurricane Michael threatens more than 200,000 multifamily units | HousingWire
HousingWire | October 15, 2018
New data from Yardi indicates that more than 200,000 multifamily units are at risk due to Hurricane Michael. Virginia Beach, Virginia, Wilmington, North Carolina, and Tallahassee, Florida, are the cities with the most multifamily units in harm’s way, according to the report. These cities hold 36,3...
MBA Annual Alert: Mick Mulvaney talks CFPB reform, the future and baseball | HousingWire
HousingWire | October 15, 2018
At MBA Annual, Mulvaney touched on everything from the Deep State and CFPB reform to baseball and his goals for the bureau. Here are some of the highlights.
Executive Conversation: Celeste Starchild on serving the digital-first homebuyer | HousingWire
HousingWire | October 15, 2018
Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Celeste Starchild, SVP Professional Software, Move, Inc. and General Manager...