Real estate news

Real estate news

  • Real estate software provider HomeSpotter acquires Spacio
    by blane@housingwire.com on January 21, 2019 at 10:20 pm

    HomeSpotter, a company that provides software for real estate agents, is growing its offerings by acquiring Spacio, an open house lead generation system, the companies announced recently. Spacio is a mobile-first platform that helps real estate agents digitally capture open house visitors’ contact information and automates follow-up, helping agents turn more of those visitors into customers […]

  • Renters Warehouse promotes David Sommer to chief operating officer
    by blane@housingwire.com on January 21, 2019 at 9:06 pm

    Fresh off completing its acquisition of OwnAmerica, one of the country’s largest investment marketplaces for single-family rentals, Renters Warehouse, is making a change in its management structure. Renters Warehouse, a property management company that specializes in managing single-family rentals, announced recently that it is promoting David Sommer from executive vice president of operations to chief operating officer. […]

  • FHFA will not defend its constitutionality in court
    on January 21, 2019 at 8:04 pm

    The Federal Housing Finance Agency revealed it will no longer defend its own structure, calling itself unconstitutional. In a filing to the fifth circuit, FHFA Acting Director Joseph Otting urged the court to dismiss the case and leave the previous judgment intact. […]

  • Direct buyer Offerpad planning significant expansion, beginning in Texas
    by blane@housingwire.com on January 21, 2019 at 7:19 pm

    Last year, Offerpad secured $150 million in funding, which the direct homebuyer said it planned to use for business expansion. Late last year, Offerpad began operating in Tucson, Arizona, and expanded into the Dallas-Fort Worth metroplex. As it turns out, that won’t be the company’s only foray into Texas. […]

  • Why these mortgage companies are teaching their LOs to originate reverses
    by jguerin@housingwire.com on January 21, 2019 at 7:16 pm

    Traditionally, mortgage originators have focused on standard loan products, referring out prospects interested in reverse mortgages to specialists who work only with those loans. But now, as the mortgage lending landscape becomes increasingly constricted, do LOs who can handle both forward and reverse origination themselves have a better shot at success? These mortgage companies say yes. […]

  • SN Servicing fined for failing to maintain New York zombie homes
    by blane@housingwire.com on January 21, 2019 at 6:44 pm

    SN Servicing must pay a six-figure fine for failing to maintain a pair of vacant homes in New York, the state’s financial regulator announced last week. According to the NYDFS, SN Servicing did not properly maintain the two properties for 230 and 232 days, respectively. […]

  • WFG National Title Insurance hires new commercial underwriting counsel
    by jguerin@housingwire.com on January 21, 2019 at 6:09 pm

    WFG National Title has hired Jessica Figueroa as senior national commercial underwriting counsel for its New York-based commercial division. Figueroa, an industry veteran, will oversee the title company’s national commercial real estate transactions. […]

  • These 3 U.S. cities make list of world's 10 least affordable housing markets
    by jguerin@housingwire.com on January 21, 2019 at 5:47 pm

    Three U.S. cities made a list of the world's least affordable housing markets compiled by urban planning consulting firm Demographia. While Hong Kong took the top spot yet again, San Jose ranked No. 5, Los Angeles No. 6 and San Francisco No. 8. […]

  • Toronto Real Estate Demand Slips Lower, BC Real Estate Demand Plummets
    by Kaitlin Last on January 21, 2019 at 3:09 pm

    Canadian real estate listings are facing more competition, and less sales. Canadian Real Estate Association (CREA) numbers show the sales to new listings ratio (SNLR) fell across the country in December. The indicator, used as a proxy for demand, showed deterioration in all but 3 major markets. Sales To New Listings Ratio The sales to […] The post Toronto Real Estate Demand Slips Lower, BC Real Estate Demand Plummets appeared first on Better Dwelling. […]

  • Sale of the Week: The $1.2-million Corso Italia home that proves getting top dollar can be a...
    by Jonathan Forani on January 21, 2019 at 2:42 pm

    The market for detached homes isn't what it used to b […]

  • This Week’s Top Stories: Canadian Real Estate Sales Are Dropping, and All But Two Markets Have...
    by Better Dwelling on January 20, 2019 at 12:32 pm

    Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate All But Two Canadian Real Estate Markets Have Fallen From Peak Prices Only two Canadian real estate markets are at all-time highs – Ottawa and Montreal. The Ottawa benchmark price reached $394,700 in December, a new record for the city. […] The post This Week’s Top Stories: Canadian Real Estate Sales Are Dropping, and All But Two Markets Have Fallen From Peak Prices appeared […]

  • Ditech runs into trouble with creditors; boots COO after just 9 months
    by blane@housingwire.com on January 18, 2019 at 11:27 pm

    Well, we’ve gone a solid two months without a bad headline for Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, but it looks like the company is in trouble again. The company disclosed in an SEC filing that it's run into more trouble with creditors and is firing its COO after just nine months. […]

  • ATTOM: Foreclosure activity falls to 13-year low
    by jguerin@housingwire.com on January 18, 2019 at 11:10 pm

    Foreclosure activity has reached its lowest point since 2005, falling 8% from the previous year, according to ATTOM Data Solutions. Foreclosure filings – which include default notices, scheduled auctions and bank repossessions – were reported on 624,753 properties in 2018, down 78% from their 2010 peak of 2.9 million. […]

  • Is GSE reform just weeks away?
    on January 18, 2019 at 10:35 pm

    Calls for government-sponsored enterprise reform have gone on for years – but now that reform could be just weeks away from becoming a reality. FHFA Acting Director Joseph Otting is said to be just weeks away from releasing a plan. […]

  • PennyMac jumps into home equity business
    by jguerin@housingwire.com on January 18, 2019 at 9:40 pm

    PennyMac is betting on opportunity in home equity lending, announcing Friday that its Loan Services subsidiary will now offer HELOCs. The nonbank's foray into home equity lending comes at an interesting time, as some experts say certain market dynamics signal the likelihood of an impending home equity boom, while others are saying quite the opposite. […]

  • Moody’s chief economist: Prolonged government shutdown is “fodder for recession”
    by cbasile@housingwire.com on January 18, 2019 at 7:30 pm

    Moody's Chief Economist Mark Zandi warns that if the government shutdown persists into February or March, Americans could lose faith in the economy and GDP growth will slow. And that could help fuel a recession. […]

  • HECM margins hover in 2% range
    by jguerin@housingwire.com on January 18, 2019 at 7:29 pm

    Margins on adjustable-rate reverse mortgage loans averaged 1.96% in November, according to Baseline Reverse's latest Margin Report. This represents only a slight dip from previous months and suggests that margins have stabilized as lenders adjust to product changes. […]

  • Harvard: Home remodeling will slow down significantly by year's end
    by jguerin@housingwire.com on January 18, 2019 at 6:52 pm

    Home improvement and repair activity is going to slow considerably by the end of 2019, according to the Joint Center for Housing Studies of Harvard University. Flat home sales, slowing home-price growth and rising rates will bring spending back to average levels in the year ahead. […]

  • Fannie, Freddie issue new mortgage lending rules due to prolonged shutdown
    on January 18, 2019 at 6:47 pm

    Fannie Mae and Freddie Mac, in consultation with the Federal Housing Finance Agency, announced new mortgage origination requirements this week in light of the ongoing government shutdown. […]

  • Veros predicts home price growth will weaken in 2019
    by jguerin@housingwire.com on January 18, 2019 at 6:10 pm

    The latest VeroFORECAST from valuations provider Veros Real Estate Solutions predicts an average appreciation of 3.9% over the next year in the 100 most populous markets surveyed – down from the 4.5% predicted last quarter as the company foresees "a definite slowing down of most markets." […]

  • Goldman Sachs invests $15 million for supportive housing in New Jersey
    by blane@housingwire.com on January 18, 2019 at 6:05 pm

    Aiming to provide housing options for the state’s “most vulnerable populations,” Goldman Sachs is partnering with New Jersey Community Capital to provide $15 million to be used for supportive housing in the Garden State. Supportive housing is an affordable housing option that also provides services like job training and placement to its residents. […]

  • Freddie Mac just had its biggest year ever in multifamily
    by blane@housingwire.com on January 18, 2019 at 5:19 pm

    We already knew that Freddie Mac set an all-time record for multifamily security issuance in 2018, so it probably shouldn’t come as a surprise that 2018 was the government-sponsored enterprise’s best overall year ever in multifamily. Here are more details about how the GSE got there. […]

  • All But Two Canadian Real Estate Markets Have Fallen From Peak Prices
    by Kaitlin Last on January 18, 2019 at 3:10 pm

    Canadian real estate prices are starting to take a breather, after an epic run. Canadian Real Estate Association (CREA) numbers show prices across the country were down a few points in December. The vast majority of markets are now off all-time highs, with only two printing records in December. Canadian Real Estate Prices Are Down […] The post All But Two Canadian Real Estate Markets Have Fallen From Peak Prices appeared first on Better Dwelling. […]

  • Condo of the Week: $1 million for a loft with super-tall ceilings near Roncesvalles
    by Glyn Bowerman on January 18, 2019 at 2:15 pm

    No houseplant is too tall for this plac […]

  • Microsoft Gives $500M for Affordable Housing in Seattle
    on January 18, 2019 at 6:00 am

    Microsoft is looking to address the shortage of affordable housing in the Seattle area, where the software giant is based. […]

  • Natural Disasters Hit Real Estate Hard in 2018
    on January 18, 2019 at 6:00 am

    Natural disasters struck with a vengeance in 2018, marking the third straight year with an above-average number of catastrophes. […]

  • Will Lower Mortgage Rates Escalate Sales Gains?
    on January 18, 2019 at 6:00 am

    After six consecutive weeks of declines in the 30-year fixed-rate mortgage, upcoming data may show whether it has prompted more buyers to make a move. […]

  • When a Pair of Cats Are Your Renters
    on January 18, 2019 at 6:00 am

    Two cats in Silicon Valley are the pampered renters and sole occupants of a $1,500-per-month studio. […]

  • CFPB seeking compliance authority on military lending
    by cbasile@housingwire.com on January 17, 2019 at 10:19 pm

    The Consumer Financial Protection Bureau is changing course on its previous decision to stop supervising lending to active duty service members. Kathy Kraninger, the newly confirmed director of the bureau, sent a letter to Congress on Thursday, asking for the "clear authority" to supervise for compliance with the Military Lending Act. […]

  • Here are the multifamily lenders that dominated 2018
    on January 17, 2019 at 9:21 pm

    Multifamily lending continues to reach all-new highs, and some lenders rose above the rest, dominating the market in 2018. Here are the top 10 lenders that financed through Freddie Mac in 2018 and their lending volume. […]

  • Top 10 reasons why borrowers pursue a jumbo reverse mortgage
    by jguerin@housingwire.com on January 17, 2019 at 9:20 pm

    American Advisors Group has surveyed borrowers who have chosen its private-label AAG Advantage loan to determine what prompts seniors to pursue a jumbo reverse mortgage. The results highlight the vast differences between the average reverse mortgage borrower – whose financial situation is often tenuous – and those who pursue a jumbo reverse to access the equity in a higher-value home. […]

  • Tesla exec to lead operations at Roofstock
    by jguerin@housingwire.com on January 17, 2019 at 7:31 pm

    Single-family rental giant Roofstock has hired Fiona Taylor as vice president of operations. Taylor previously served as senior director of Business Operations and Customer Service at Tesla, is well-versed in helping companies on the brink of extreme growth. […]

  • Help might be on the way for Yonge and Eglinton’s screaming condo tower
    by Steve Kupferman on January 17, 2019 at 7:14 pm

    But not for a few more months […]