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Real Estate News

Real Estate Real estate development, sales, and market trends.

  • Real estate entrepreneur sentenced 20 years for fraud
    on July 20, 2018 at 10:10 pm

    Everett Craig Williams, a real estate entrepreneur, is spending 20 years behind bars for swindling thousands of dollars from investors, according to an article written by L.M Sixel at the Houston Chronicle. Williams used investor money to finance his personal expenses. […]

  • Senate Democrats unveil sweeping rent reform proposal
    on July 20, 2018 at 4:39 pm

    Increasing rent prices leave many American families struggling to afford housing, but Senate Democrats have introduced new legislation to help alleviate that stress. The Rent Relief Act will award refundable tax credit to renters that pay more than 30% of their gross income on rent, including utilities. […]

  • Is real estate appreciation shifting west?
    on July 20, 2018 at 3:00 pm

    Just as America's population growth moved west from the Atlantic, real estate appreciation is trending in that direction, too. According to projections from Veros released last month, a graph of the nation's highest-appreciating Metropolitan Statistical Areas through May 2019 might look like a wave cresting towards the West Coast. […]

  • Boston Capital gears up for $350 million of multifamily acquisitions
    on July 20, 2018 at 2:30 pm

    Boston Capital Real Estate Partners, the 3rd largest apartment owner in the U.S., just closed the Boston Capital Income and Value U.S. Apartment Fund. The fund has enough juice to add $350 million of apartments to the Boston Capital empire. […]

  • Give the people what they want: RealPage to offer free apartment data on its website
    on July 20, 2018 at 2:26 pm

    For no charge, RealPage is offering its rent and occupancy data on millions of U.S. apartments for free, citing the importance of data to due diligence and competition in the multifamily market. Visitors can access the data through the "Explore" feature on RealPage's website. […]

  • Did the Feds clean up Miami's dirty real estate market?
    on July 19, 2018 at 9:59 pm

    A study conducted by economists at the Federal Reserve Bank of New York and the University of Miami indicate a 95% decrease in home purchases by shell companies and other corporate entities in Miami-Dade County, according to an article by Nicholas Nehamas and Rene Rodriguez for the Miami Herald. However, there is speculation that shell companies are now “substituting” new ways to buy property. […]

  • American Land Title Association CEO Michelle Korsmo stepping down
    by blane@housingwire.com on July 19, 2018 at 8:40 pm

    For the first time in nearly seven years, the American Land Title Association will soon have a new leader. The trade group, which represents more than 6,200 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real estate attorneys, announced this week its longtime CEO, Michelle Korsmo, is stepping down to move to a vastly different industry. […]

  • Ryan Serhant to headline engage.marketing event
    by swheeler@housingwire.com on July 19, 2018 at 8:02 pm

    HousingWire created the engage.marketing event because we recognize that for mortgage and real estate companies, the difference between success and failure is razor thin. The current environment makes it crucial for businesses to really connect with customers, but exactly what that looks like is often unclear. That's why we're excited to announce that Ryan Serhant, the wildly successful real estate broker featured on Bravo's "Million Dollar Listing New York" will headline the event in September.&nbs […]

  • HUD dedicates $144 million to revitalize 5 neighborhoods
    on July 19, 2018 at 7:36 pm

    HUD announced it is awarding $144 million to be divided into five communities for revitalization efforts. The money will be awarded to redevelop severely distressed public or assisted housing, as well as the surrounding neighborhoods. […]

  • Flat-fee real estate startup Reali raises $20 million to expand beyond California
    by blane@housingwire.com on July 19, 2018 at 4:27 pm

    Reali, a flat-fee real estate startup that boasts it can sell a house in the San Francisco area for as little as $950, is planning to expand into Southern California and beyond, thanks to a $20 million injection of funding. […]

  • Zillow expanding direct homebuyer program to Atlanta
    by blane@housingwire.com on July 18, 2018 at 8:10 pm

    Homeowners in Atlanta will soon have a new outlet when it comes time to sell their house – Zillow. Beginning in the fall of this year, Atlanta homeowners will be able to sell their home directly to Zillow, if they so choose. The move into Atlanta is an expansion of Zillow’s direct buying program, Zillow Offers, which the company launched earlier this year. […]

  • Powell: Housing not the economic driver it once was
    on July 18, 2018 at 7:20 pm

    Federal Reserve Chair Jerome Powell returned to Capitol Hill on Wednesday for this second appearance of the week. During his hearing before the House Committee on Financial Services, Powell explained that the housing industry simply isn’t the economic driver that it once was and actually doesn’t have much pull in monetary policy decision making. […]

  • WhyHotel adds Cathy Ross to board, expands in D.C.
    on July 18, 2018 at 4:21 pm

    Symbiotic alternative lodging service WhyHotel added Exclusive Resorts CEO Cathy Ross to its board and is launching a new, 95-unit pilot site in the NoMa area of Washington, D.C. Recently, the young company received $3.94 million in seed funding which has allowed the company to set up new locations and build out its leadership team. […]

  • Opportunity zone tax breaks tantalize real estate investors
    on July 18, 2018 at 3:49 pm

    The federal tax overhaul brought to life a new tax break for investments in low-income areas dubbed, "opportunity zones." Real estate investors appear excited to deploy capital in these areas and are positioning themselves to develop various kinds of real estate in these areas. […]

  • RealPage launching platform to help turn empty apartments into short-term rentals
    on July 18, 2018 at 3:31 pm

    RealPage subsidiary Kigo, a vacation rental booking and management platform, is a launching a new program targeted at managing short-term rentals in multifamily properties. The launch of this product comes at a time when short-term rentals are a hot-button topic for the industry, and while some multifamily entities are against short-term rentals, RealPage is leaning into the issue. […]

  • Housing starts drop 12.3% in June
    on July 18, 2018 at 2:21 pm

    Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. LendingTree Chief Economist Tendayi Kapfidze said although 3-month average building permits are close to the highest level since 2007, labor shortages are weighing on building activity. […]

  • American Financial Resources offers new manufactured housing finance option
    on July 17, 2018 at 8:54 pm

    American Financial Resources is now offering conventional financing for manufactured homes via the new Fannie Mae initiative, MH Advantage. The new program is designed to promote financing for manufactured homes comparable in quality and features to traditional single-family homes. […]

  • Zillow: Blacks and Latinos have to spend more than 30% of income to pay rent
    on July 17, 2018 at 8:27 pm

    As rental prices continue to rise to record levels, new research from Zillow indicates that a disproportionate percentage of blacks and Latinos cannot afford to rent. This is because black and Latino income remains below their counterparts, hindering affordability in the majority of the 50 largest metros nationwide. […]

  • Bellwether Enterprise Real Estate Capital hires Ilya Weinstein as vice president
    on July 17, 2018 at 7:43 pm

    Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, hired Ilya Weinstein as vice president of the company's office in New York. Weinstein will focus on affordable housing as part of the Bellwether’s Affordable Group, working to increase loan production for affordable housing properties in the northeastern U.S. region. […]

  • The most expensive towns in the U.S. – and what it costs to live there
    by jguerin@housingwire.com on July 17, 2018 at 5:11 pm

    Everyone knows that living in Beverly Hills, California, or Greenwich, Connecticut, doesn’t come cheap. But how much, exactly, does it take to live there? A recent report by GOBankingRates spells it out, naming the most expensive ZIP codes in each state and determining what it costs to comfortably live there – and the results are staggering. […]