Tag Archives: Realtors

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Bronx property is first purchase in unique partnership designed to boost affordable housing

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As part of an effort to increase the supply of affordable housing in New York City, the New York City Department of Housing Preservation and Development, Commissioner Louise Carroll, Settlement Housing Fund, the Community Preservation Corporation, and the New York City Acquisition Fund recently announced the first acquisition of a property through the city’s Neighborhood Pillars Downpayment Assistance Fund.

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Here are the top destinations for movers in the U.S.

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While most people who move tend to stay relatively close to where they were before, that doesn’t mean that others aren’t willing to pack up and move to a whole new city or state. New data from Realtor.com shows that the typical homebuyer may only move up to 15 miles away from home, but others are attracted to metros that offer housing affordability, strong employment and other factors.

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Digital mortgage company Better.com closes $160 million in funding

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Better.com, one of the fastest-growing digital mortgage companies, said Monday it closed on $160 million of Series C funding, with backers including Ally Financial, Citi, and American Express. “Similar to how Amazon upended the retail industry, Better.com is digitally disrupting the $15 trillion mortgage industry,” said Vishal Garg, CEO and founder.

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Capital Economics: Expect home prices to increase as mortgage rates drop

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For the last two weeks Freddie Mac reported 30-year, fixed-rate mortgages averaging 3.6%, a three-year low. These rates, combined with tight housing inventory will lead to an increase in home prices, Capital Economics said in a report on Monday. The report predicts a 3% rise in prices for 2019.

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Douglas Elliman launches in Texas

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Douglas Elliman Real Estate, the top brokerage in the New York metro area, is expanding into Texas. On Tuesday, the brokerage announced a joint venture with Sudhoff, a company based in Houston that specializes in luxury high-rise condominiums. Jacob Sudhoff, president of Sudhoff, was named chief executive officer of Douglas Elliman, Texas.

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America’s growing home tenure is threatening potential home sales growth

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Potential existing-home sales fell in July as inventory concerns continued to threaten the market’s overall growth, according to First American’s Potential Home Sales Model. According to the company’s analysis, the market potential for existing-home sales fell by 1.2% from 2018, equating a loss of 63,000 sales. First American Chief Economist Mark Fleming said America’s rising tenure length means that there are both fewer buyers and homes on the market, keeping existing-home sales below market potential.

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Southwest sees fastest single-family rent increase

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Last month, we reported that Phoenix led the nation in multifamily rent growth. Now, according to a recent report from CoreLogic, single-family homes are following suit as rent prices are increasing the fastest in the Southwest. Phoenix had the highest year-over-year rent growth for the seventh consecutive month this June, with an increase of 7.1%.

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Mortgage Tech Rundown: Calyx, LoanLogics, and Visionet Systems

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Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements. Today we take a look at the latest fintech news from Calyx, LoanLogics and Visionet Systems.

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Fannie Mae lowers existing home forecast, says sales will decline this year

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Fannie Mae lowered its housing forecast on Friday, saying existing home sales will decrease this year compared with 2018. It was the first time the mortgage giant projected a 2019 decline. The projection comes at a time when mortgage rates are near three-year lows and housing optimism is at an all-time high. But, there’s something that trumps low rates and elevated optimism, the mortgage giant said: Supply shortage.

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HUD proposes changes to fair housing rules

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The Department of Housing and Urban Development on Friday proposed making changes to the nation’s fair housing rules, a move that fair housing advocates claim is part of a Trump administration effort to “gut” federal protections against housing discrimination. The changes to the disparate impact rule will likely make it more difficult to prove unintentional housing discrimination. Click the headline for the full story.

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