Real estate news

Real estate news

  • 5 Kitchen Mistakes That Could Sink a Sale
    on July 22, 2019 at 5:00 am

    Make the heart of your listing stand out. Avoid these blunders that could lessen the appeal. […]

  • Hispanics Buyers Are Gaining Ground as Housing Customers
    on July 22, 2019 at 5:00 am

    Their demographic makes up 18% of the U.S. population, yet Hispanics accounted for nearly 63% of new homeownership gains over the last decade. […]

  • More Homes for First-Timers Are On the Way, Builders Vow
    on July 22, 2019 at 5:00 am

    Home builders say they are stretching their focus beyond higher-priced homes for move-up buyers. […]

  • Which States Dominate Vacation-Home Rankings?
    on July 22, 2019 at 5:00 am

    A breakdown of the vacation-home concentration by state. […]

  • Agent Steps in to Help Save Sellers’ ‘Pink House’
    on July 22, 2019 at 5:00 am

    Sometimes a sale isn’t the answer. Real estate pro Jeanne Keating offers another solution to a family with a beloved colorful house that needs a lot of TLC. […]

  • This Week’s Top Stories: Over Half of Toronto and Vancouver Can’t Afford A One-Bedroom Rental,...
    by Better Dwelling on July 21, 2019 at 3:31 pm

    Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Sales Make A Small Gain, Weighed Down By Vancouver Canadian real estate sale made a small climb this year. There were 47,755 sales according to CREA, up 0.30% from last year. The number is higher than the […] The post This Week’s Top Stories: Over Half of Toronto and Vancouver Can’t Afford A One-Bedroom Rental, and Foreign Buyers Are Disappearing appeared […]

  • Housing discrimination lawsuit against Bank of America gets green light
    by jguerin@housingwire.com on July 19, 2019 at 8:16 pm

    A federal judge in Maryland denied a motion Thursday to dismiss a lawsuit brought against Bank of America and Safeguard Properties Management by the National Fair Housing Alliance, 19 fair housing organizations and two homeowners for alleged fair housing violations. According to the judge, the facts presented allow for a “reasonable inference that the defendants violated anti-discrimination provisions of the Fair Housing Act.&rdquo […]

  • Oregon close to becoming first U.S. state to ban single-family-only zoning
    on July 19, 2019 at 7:38 pm

    Earlier this month, Oregon’s legislature passed House Bill 2001, a measure that will require cities of more than 10,000 people to permit duplexes in areas currently zoned for single-family usage. The bill, which received bipartisan support, is set to go before Gov. Kate Brown, D-OR, who is expected to sign it, therefore positioning Oregon as the first state to ban single-family-only zoning. If passed, Redfin claims the measure could have a significant impact on Portland's housing market. […]

  • Chris Heller leaves loanDepot and mellohome for AI real estate company OJO Labs
    by blane@housingwire.com on July 19, 2019 at 7:32 pm

    Chris Heller shocked the housing world last year when he stepped down as CEO of Keller Williams to become the CEO of mellohome, loanDepot’s attempt to serve as a true one-stop-shop for “buying, financing, and improving homes.” But now, less than 18 months later, Heller is leaving mellohome and loanDepot behind for OJO Labs, a real estate technology start-up whose flagship product is an AI-based conversational assistant that is currently being used in the real estate industry. […]

  • Stagnant wages, vacant homes are undercutting housing markets, U.S. mayors say
    by kkhowley@housingwire.com on July 19, 2019 at 6:29 pm

    The two biggest villains undercutting housing markets in American cities are stagnant wages and vacant properties, according to a report this week from a coalition of U.S. mayors. “In fast-growing cities, wages lag behind housing costs, leading to a scarcity of affordable housing,” the report from the National League of Cities Housing Task Force states. In cities where the economy is stagnant, abandoned homes are depressing real estate values. […]

  • Liberty Home Equity unveils proprietary reverse mortgage
    by jguerin@housingwire.com on July 19, 2019 at 6:15 pm

    Five months ago, word circulated that Liberty Home Equity was on the brink of releasing a proprietary reverse mortgage product, looking to take part in the explosive growth this market has seen in the last year. And now the talk appears to be true, as the reverse mortgage division of Ocwen Financial announced the launch of EquityIQ on Friday, making it the sixth HECM lender to bring a non-agency reverse mortgage to market in the last 18 months. […]

  • First American: Growth in potential existing-home sales dampened by lack of inventory
    on July 19, 2019 at 5:48 pm

    In June, potential existing-home sales increased slightly from the previous month, keeping the market’s potential below its 2018 rate, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said while increasing house-buying power improved housing affordability and boosted the incentive to sell, a lack of inventory continues to hold the market back. […]

  • Condo of the Week: $1.9 million for a decked-out Davisville townhouse
    by Glyn Bowerman on July 19, 2019 at 3:55 pm

    See inside a new townhouse with a sleek kitchen […]

  • Half of Greater Vancouver Can’t Afford A One Bedroom Rental
    by Daniel Wong on July 19, 2019 at 3:53 pm

    Vancouver real estate is hella expensive, but it’s become ridiculous in recent years. Canadian Centre for Policy Alternatives (CCPA) crunched the numbers to find the wage needed to rent in Greater Vancouver. Breaking down the numbers further, we see how unsustainable the region has become. The average one-bedroom is now unaffordable to over half of […] The post Half of Greater Vancouver Can’t Afford A One Bedroom Rental appeared first on Better Dwelling. […]

  • Bank of America claims Ditech's sale of RMS "threatens to abandon" elderly reverse mortgage...
    by jguerin@housingwire.com on July 19, 2019 at 3:32 pm

    Ditech Holdings announced last month that it had entered into an agreement to sell its reverse mortgage business, but now one of its big-named clients is formally objecting to the sale. Bank of America, which has a reverse mortgage servicing agreement with Ditech subsidiary Reverse Mortgage Solutions, filed a motion in court Thursday objecting to the deal as it currently stands, claiming that it “threatens to abandon the thousands of elderly borrowers” whose reverse mortgages are […]

  • Over Half of Toronto Can’t Afford To Rent An Average 1 Bedroom By Themselves
    by Daniel Wong on July 19, 2019 at 2:22 pm

    Young person looking to move to Toronto? Better line up a professional gig first, or expect to bunk up. Canadian Centre for Policy Alternatives (CCPA) crunched the numbers to find the wage needed to rent in Greater Toronto. Digging into the numbers, we can see how unsustainably high prices have become. The average one-bedroom is […] The post Over Half of Toronto Can’t Afford To Rent An Average 1 Bedroom By Themselves appeared first on Better Dwelling. […]

  • 6 Tech Companies Poised to Shake Up Commercial Sector
    on July 19, 2019 at 5:00 am

    Second Century Ventures selects its inaugural commercial accelerator class. Find out the tech startups to watch. […]

  • Mortgage Rates Inch Up, But Buyers Are Still Getting Deals
    on July 19, 2019 at 5:00 am

    Rates still remain at multiyear lows and are keeping borrowing costs low for those shopping for homes this summer. […]

  • U.S. Census: 60.2M Live in Most Vulnerable Areas for Hurricanes
    on July 19, 2019 at 5:00 am

    Populations are rising in the areas most at risk for devastating hurricanes. […]

  • Bathroom Design Gets More High-Tech
    on July 19, 2019 at 5:00 am

    Smart thermostat controls, water-conserving technology, and internet-connected products are entering more bathroom design. […]

  • More Millennials Paying Mortgages Themselves: 'We've Got This'
    on July 19, 2019 at 5:00 am

    Young adults’ household incomes have been rising, and fewer millennials are asking their parents for financial help or finding a roommate in order to buy a home, a new study shows. […]

  • Renovation spending will slow in 2020 after record-setting year, Harvard report says
    by kkhowley@housingwire.com on July 18, 2019 at 9:51 pm

    While renovation spending rose to a record at the end of June and will reach a new high by the end of 2019, a slowdown is on the horizon. Americans spent $322 billion on remodeling and home repairs during the 12 months ending in June, a 6.8% jump from a year earlier, according to Harvard University’s Joint Center for Housing Studies. However, 2020 will be a different story. […]

  • House of the Week: $1.8 million for a modern, metal-clad home on the Danforth
    by Steve Kupferman on July 18, 2019 at 8:13 pm

    This is no bungalow […]

  • Here's why a cut in FHA's insurance premiums won't boost its market share
    by jguerin@housingwire.com on July 18, 2019 at 7:58 pm

    Earlier this month, the U.S. House of Representatives passed a bill that slashed the cost of upfront mortgage insurance for first-time homebuyers who underwent counseling before taking an FHA loan. But while the push for greater financial literacy is a worthy cause, it’s unlikely to boost FHA’s share of the mortgage market, Capital Economics said in a recent report, calling the premium cuts “too small to halt the downward trend in the FHA market share.&rdquo […]

  • Fewer Millennials are seeking mortgage help from parents
    on July 18, 2019 at 7:50 pm

    Millennial homebuyers are less likely to take extraordinary measures to be able to afford their mortgage payments in 2019, according to a study from Redfin, which says that more Millennials are leaving roommates and renting in the past. […]

  • Foreign buyers flee the U.S. housing market, led by Chinese and British
    by kkhowley@housingwire.com on July 18, 2019 at 6:15 pm

    China’s currency controls, as well as international tensions between the U.S. and a slew of countries traditionally thought of as our allies, are putting a crimp on America’s real estate market by thwarting demand from foreign homebuyers. Purchases by Chinese people, the biggest share of foreign purchasers, plummeted 56% in the 12 months ended in March, while British home purchases tumbled 48%. […]

  • Fannie Mae, Freddie Mac still in conservatorship in 2024? Calabria says it’s possible
    by blane@housingwire.com on July 18, 2019 at 6:04 pm

    Recent reporting by Bloomberg suggested that the Trump administration may be wavering on pursuing widespread reforms of Fannie Mae and Freddie Mac in advance of the 2020 election due to the potential economic impact of those reforms on voters. Now, Federal Housing Finance Agency Director Mark Calabria now says it’s possible that the GSEs may remain in conservatorship until 2024, at least. […]

  • State Farm, Quicken Loans announce massive mortgage partnership
    by blane@housingwire.com on July 18, 2019 at 4:40 pm

    For years, State Farm agents could offer mortgages to their customers through State Farm Bank, the company’s banking arm that offers home loans, auto loans, checking accounts, savings accounts, credit cards and other traditional banking services to State Farm customers. But that won’t be the case for much longer. Soon, State Farm will begin using Quicken Loans to originate mortgages for its customers thanks to a significant new partnership between the two companies. […]

  • Mortgage Tech Rundown: Anow, LoanScorecard and FormFree
    on July 18, 2019 at 4:28 pm

    This week's mortgage tech rundown highlights the latest news in mortgage technology, featuring product updates, integrations and announcements. […]

  • SoFi appoints Aaron Webster as chief risk officer
    on July 18, 2019 at 3:52 pm

    Almost immediately following the departure of former chief risk officer Kevin Moss in June, Aaron Webster has been named the chief risk officer at online lender SoFi. Webster will be responsible for risk, fraud, and credit management frameworks, as well as leading its credit risk and underwriting activities. […]

  • U.S. homeowners have never stayed put for this long
    by jguerin@housingwire.com on July 18, 2019 at 3:45 pm

    American homeowners are staying put longer than ever before, with the average tenure reaching a record high of 8.09 years in the second quarter of 2019. This stands in stark contrast to the years leading up to the recession, as tenure from 2001-2007 averaged just 4.21 years. Here's why homeowners may be holding off on a move, and what it might mean for the market. […]

  • Expert: Tech firms are slow to develop appraisal technology
    on July 18, 2019 at 3:40 pm

    Technology providers are slow to enter and develop new tech for the home valuations space, leaving appraisers lacking when it comes to new technology options. […]

  • Average home seller saw 34% return on their investment in Q2
    by jguerin@housingwire.com on July 18, 2019 at 3:28 pm

    Homes may be appreciating more slowly than before, but homeowners are still rolling in the equity, realizing significant returns when they opt to sell. On average, home sellers saw a 33.9% return on their investment in the second quarter of 2010. That translates to a $67,500 profit on the sale of their home, according to the latest report from ATTOM Data Solutions. […]