California apartment complex to pay $20,000 for discrimination allegations

May 23rd, 2017 Real Estate

After being accused on several fronts for discriminatory acts against Latinos and families with children, the owners of a California Apartment Complex settled with HUD to pay $20,000. HUD released details on both the accusations and the settlement terms.

Fidelity National Financial acquires Hudson & Marshall

May 23rd, 2017 Real Estate

ServiceLink, the provider of transaction services to the mortgage and finance industries, is getting into the auction business thanks to its parent company buying one of the country’s top auction companies. On Monday, Fidelity National Financial, the title insurance giant and parent company of ServiceLink, announced that it acquired Hudson & Marshall.

As foreclosure well runs dry, investors look to new builds

May 23rd, 2017 Real Estate

Build-to-rent homes continue to gain traction among builders and investors. As foreclosures continue to dwindle, many investors are looking for a different source of homes to rent out, and newly built homes could be the solution they are searching for.

Court of Appeals set to hear landmark challenge to CFPB constitutionality

May 23rd, 2017 Real Estate

The Consumer Financial Protection Bureau’s moment of truth (in the courtroom, at least) is coming this week as the full Court of Appeals for the District of Columbia Circuit is set to rehear the landmark challenge to the agency’s constitutionality brought by PHH Corp. Here’s a breakdown of the case and a view of what’s coming next.

Where are building permits keeping up with housing demand?

May 23rd, 2017 Real Estate

An interactive tool from NAR shows the need for new housing in different counties across the U.S. compared to the number of new building permits issued. Since the housing crisis, the number of counties hitting their peak levels of building permits decreased substantially.

Monday Morning Cup of Coffee: HUD budget shows cuts still run deep

May 22nd, 2017 Real Estate

The draft of HUD’s proposed 2018 budget calls for “increased responsibility on state and local governments and calls for the private sector to do more to meet community needs.” The proposed budget also eliminates the Housing Trust Fund, a program financed by Fannie Mae and Freddie Mac profits. Also, where is the next emerging market for mortgage lending? Here’s where, according to the CEO of Caliber Home Loans.

Watchdog: The CFPB fails to properly secure confidential enforcement information

May 20th, 2017 Real Estate

The Consumer Financial Protection Bureau’s Office of Enforcement fails to properly secure sensitive, confidential information, leaving the data available to both employees that no longer needed access to the data and former employees who left the bureau, a watchdog report found. Here are the details.

Owning a home is within reach – but certain kinds of renters don’t care

May 20th, 2017 Real Estate

With rising home prices, many Americans struggle to buy a home. For others, however, homeownership is within reach, they simply don’t care. In fact, renting can be a smart move for many who want the freedom to move around.

Can Hispanic homeownership finally boom under the Trump administration?

May 20th, 2017 Real Estate

The current administration’s policies could be the best thing that could happen for Hispanics working toward homeownership. While other groups continue to see diminishing homeownership rates, Hispanic homeownership rates are on the rise, but remain significantly lower than rates among other ethnicities.

Want to buy a home at the start of your career? Get one of these 10 college degrees

May 20th, 2017 Real Estate

A new report from realtor.com shows which degrees are best for homeownership, and one degree stands out above the rest with the fastest path to homeownership. On the opposite end of the spectrum, educator degrees present the slowest path the homeownership as it would take nearly seven years to save up for a home.

Realtors® Have a Positive Outlook for Commercial Markets in 2017

May 20th, 2017 Real Estate

WASHINGTON (May 19, 2017) – While challenges face commercial real estate markets, Realtors® specializing in the sector should have confidence that growth will continue. That’s according to speakers at a commercial economic issues and trends forum at the REALTORS® Legislative Meetings & Trade Expo.

NAR Chief Economist Lawrence Yun led a panel discussion about the economic forces shaping commercial real estate markets; the panelists agreed that the market has improved and that continued growth in the economy… Read More

Foreign Buyers and Immigration Expected to Drive Future Demand for U.S. Housing

May 20th, 2017 Real Estate

WASHINGTON (May 19, 2017) – U.S. real estate markets are increasingly becoming international, and changing demographics brought forth by immigration and growing interest from foreigners are positioned to bolster home sales activity and prices. That’s according to speakers at an international real estate forum organized by the REALTOR® University Richard J. Rosenthal Center for Real Estate Studies session here at the 2017 REALTORS® Legislative Meetings & Trade Expo.

NAR’s Danielle Hale, managing director… Read More

NAR: Existing home sales will see best year since 2006

May 19th, 2017 Real Estate

As prices go up, existing home sales are on track to hit the highest sales pace since 2006, a new forecast from the National Association of Realtors shows. However, the housing market will still face various headwinds, including lack of economic growth, which could hold back the sales pace.

New York unveils $20 billion plan to fight homelessness, boost affordable housing

May 19th, 2017 Real Estate

New York is taking homelessness and the state’s lack of affordable housing head-on with an ambitious new program announced Thursday by the state’s governor, Andrew Cuomo. According to Cuomo’s office, the state is launching a $20 billion, five-year plan to combat homelessness and advance the construction of affordable housing throughout the state.

Genworth: First-time homebuyers just don’t understand down payments

May 19th, 2017 Real Estate

A new survey of mortgage industry executives conducted by Genworth Mortgage Insurance breaks down what the industry believes is blocking new buyers from the housing market. To no surprise, the seemingly unattainable 20% down payment for first-time homebuyers continues to be one of the biggest barriers into homeownership. Here’s what else the survey found.

Second Century Ventures adds Adwerx and immoviewer to 2017 REach® Accelerator Class

May 19th, 2017 Real Estate

WASHINGTON (May 17, 2017) — Two more innovative technology companies have been selected to join REach®, a growth technology accelerator program from the National Association of Realtors®' strategic investment arm, Second Century Ventures. Adwerx, a digital advertising provider, and immoviewer, a 3-D virtual tour technology company, will join the seven other companies announced last month as part of the fifth REach class.

REach provides early-to mid-stage companies… Read More

NAR Midyear Forecast: Existing-Home Sales Poised to Climb 3.5 Percent in 2017

May 19th, 2017 Real Estate

WASHINGTON (May 18, 2017) – The multi-year stretch of robust job gains along with improving household confidence are expected to guide existing-home sales to a decade high in 2017, but supply and affordability headwinds and modest economic growth are holding back sales and threatening to keep the nation’s low homeownership rate subdued. That’s according to speakers at a residential real estate forum here at the 2017 REALTORS® Legislative Meetings & Trade Expo.

Lawrence Yun, chief economist of the National… Read More

Tax Reform Could Deliver a Tax Hike for Homeowners: New Research

May 19th, 2017 Real Estate

WASHINGTON (May 18, 2017) – While tax reform proposals swirling around Washington, D.C., promise lower tax bills for American families, new estimates indicate that many middle-income homeowners may actually see a tax increase if those proposals go through.

The study, “Impact of Tax Reform Options on Owner-Occupied Housing,” illustrates the effects of a tax plan that echoes certain… Read More

New home sizes continue to shrink

May 18th, 2017 Real Estate

Home sizes continue to shrink at the start of 2017. During the first quarter, both the median and average home prices decreased, following the new trend. Decreasing home sizes are typically signs of an oncoming recession as buyers tighten their budget, but NAHB explains the reason for this current trend.

Long Island community with Nazi-linked past ordered to end housing discrimination

May 18th, 2017 Real Estate

A Long Island community with a history of connections to the Nazi Party must end its practice of only allowing whites of German heritage to buy a home in the area, the New York Attorney General declared on Wednesday. Here are the details on the German American Settlement League, a community in Yaphank, New York.