Real estate news

• Evictions in America: A tale of two cities

  22-09-2016 23:37
  
  The contrast between how New York City and San Francisco have approached the affordable housing crisis is striking. Both cities are large metropolitan areas with little geographical room to build. But in once case city action led to an 18% decrease in evictions, in another it led to an increase of 32%. 
  
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• Senators want Labor Department investigation of Wells Fargo

  22-09-2016 23:28
  
  Wells Fargo and its CEO, John Stumpf, took plenty of lumps earlier this week when Stumpf appeared before the Senate Banking Committee to discuss the $185 million fine the bank is facing, but some of the members of the Senate are far from being done with Wells Fargo. In fact, a group of eight senators are now calling on the Department of Labor to investigate Wells Fargo for potential labor law violations stemming from the company’s “aggressive” sales culture.
  
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• CEO Exchange 2016: What’s Next for Upstream, the ‘Google Drive’ of Real Estate

  22-09-2016 22:57
  
  Forty-one.
  That’s the amount of times listing data may be entered through the course of one real estate transaction, estimates Upstream™ CEO Alex Lange. That’s 41 instances in which data may become incomplete or incorrect, posing a challenge difficult to surmount as technology advances.
  The result for brokerages has been a classic (and chronic) case of “too many hands in the pot”—a game of telephone, becoming more and more inconsistent as it’s
  
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• August Market Holds Steady

  22-09-2016 22:53
  
  From 10,000 feet, the U.S. housing market has been nothing if not predictable in 2016 – inventory has been down, home values have grown at a remarkably steady pace and sellers have largely been sitting pretty. None of these trends shifted meaningfully in August, though there are a precious few signs emerging that hint at potential changes on the horizon.
  For the 49th month in a row, the median U.S. home value rose year-over-year in August, to a Zillow Home Value Index of $188,100, up 0.4 p
  
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• National Rental Home Council appoints new executive director

  22-09-2016 22:46
  
  National Rental Home Council appointed Diane Tomb as its new executive director. Tomb was not only NAWBO’s president and CEO, but also had various positions in Washington through various presidential terms.
  
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• Nationwide: Here are the most and least healthy housing markets

  22-09-2016 21:24
  
  A new report from Nationwide shows the healthiest and least healthy metros in the U.S. by comparing factors such as employment, demographics, mortgage market and home prices. Despite the affordability crisis, 25% of metros were very healthy markets in the second quarter.
  
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• The new normal: Time to close settles at 46 days

  22-09-2016 19:58
  
  After rising, falling, and rising again in the wake of the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule, the time to close a mortgage loan appears to finally be settling into a new normal – about a month and a half.
  
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• Zillow ranks fastest appreciating housing markets

  22-09-2016 19:32
  
  Home prices in some metropolitan areas grew at almost triple the rate of the national average. Zillow laid out a list of the top five which, surprisingly, San Francisco was not on. While some areas are heating up, it seems California’s hot markets could be cooling down.
  
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• Industry Insider: Here's a current snapshot of the mortgage credit market

  22-09-2016 19:30
  
  Where are we in the credit cycle? How will credit markets react to the upcoming election? Has the pendulum swung too far when it comes to mortgage underwriting? These were some of the questions raised and answered at ABS East. Frank Nothaft, chief economist with CoreLogic, shares his insights on the state of the mortgage market as witnessed at ABS East.
  
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• CoreLogic economist: Here's a current snapshot of the mortgage credit market

  22-09-2016 19:30
  
  Where are we in the credit cycle? How will credit markets react to the upcoming election? Has the pendulum swung too far when it comes to mortgage underwriting? These were some of the questions raised and answered at ABS East. Frank Nothaft, chief economist with CoreLogic, shares his insights on the state of the mortgage market as witnessed at ABS East.
  
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• City Council bill seeks to crack down on real estate transfer-tax dodgers - Philly.com

  22-09-2016 18:24
  
  Philly.com
  City Council bill seeks to crack down on real estate transfer-tax dodgers
  Philly.com
  Ownership of 2116 Chestnut St. changed for $160 million in 2015. Transfer taxes paid for the transaction were just under $3 million. by Jacob Adelman, Staff Writer @jacobadelman · Email @jacobadelman ...and more »
  
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• When a Flip Flops: Celebrity Real Estate Fails - Observer

  22-09-2016 17:23
  
  Observer
  When a Flip Flops: Celebrity Real Estate Fails
  Observer
  Even the rich and famous can fall flat sometimes. Photo Illustration by Kaitlyn Flannagan for Observer. When it comes to buying and selling luxury real estate, the arena of New York City provides some of the most entertaining action. Mere mortals watch ...
  
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• Buy or Sell? This Austin Real Estate Software Company is Buying - Austin Inno

  22-09-2016 16:55
  Buy or Sell? This Austin Real Estate Software Company is Buying
  Austin Inno
  Late summer and early fall can be a bit of a slowdown for many businesses. But Austin-based Accruent, which makes software for property and. TO. FROM. MESSAGE. SEND CANCEL. Your Email is On the Way! SEND ANOTHER EMAIL CLOSE.
  
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• Affordability crisis holds back home sales in August

  22-09-2016 16:46
  
  Despite anticipation of an uptick in existing home sales in August, they actually decreased yet again. Declining inventory and high home costs continue to prevent home sales from reaching pre-crisis levels.
  
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• Looking For Global Real Estate: Buy Shanghai - Forbes

  22-09-2016 16:44
  
  Forbes
  Looking For Global Real Estate: Buy Shanghai
  Forbes
  Over the last five years of observing and reporting on the Chinese housing market, one thing is certain. China real estate is beyond bubble. It's post-bubble. Or even bubble-proof. With the urbanization trend still in effect, and with real estate the ...and more »
  
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• Freddie Mac: Mortgage rates decreased in anticipation of Fed’s decision

  22-09-2016 16:00
  
  Last week’s dramatic increase in mortgage rates did not carry over into this week. Average rates actually slipped down this week in anticipation of the Fed’s meeting results.
  
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• Stocks rally as real estate leads; Dow up triple digits - CNBC

  22-09-2016 15:33
  
  CNBC
  Stocks rally as real estate leads; Dow up triple digits
  CNBC
  U.S. stocks traded sharply higher, with real estate leading, on Thursday as investors digested several economic data releases while processing the Federal Reserve's latest monetary policy decision. "Today's action is a relief rally following the Fed's ...and more »
  
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• Chase officially satisfies $4 billion RMBS settlement consumer-relief requirement

  22-09-2016 06:01
  
  In his ninth and final report, Joseph Smith, monitor of the JPMorgan Chase Residential Mortgage-Backed Securities Settlement, credited Chase with more than its required $4 billion of consumer relief obligation. The settlement dates all the way back to claims that Chase, Bear Stearns and Washington Mutual packaged and sold bad residential mortgage-backed securities to investors before the financial crisis.
  
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