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Virginia Home Sales Up Amid Spike in New Listings

Virginia Home Sales Up Amid Spike in New Listings

by Phil Hall | Mar 29, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A slew of new listings in Virginia helped to boost the state’s home sales in February, according to new data from Virginia Realtors. Last month saw 1,400 more new listings compared to one year earlier, a 16.7% upswing. This resulted in 16,004 homes on the market, a...
Biden to Change Rent Increase Cap on Some Affordable Housing Units

Biden to Change Rent Increase Cap on Some Affordable Housing Units

by Phil Hall | Mar 29, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Biden administration is planning to change the cap on how much rents can go up in some federally subsidized affordable housing complexes. The Washington Post, citing unnamed “senior administration officials,” reported the yearly rent increases in properties that...
Typical Homebuyer’s Down Payment Up 24% From a Year Ago

Typical Homebuyer’s Down Payment Up 24% From a Year Ago

by Phil Hall | Mar 29, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median down payment for U.S. homebuyers in February was $55,640, according to new data report from Redfin (NASDAQ: RDFN). This marks a 24.1% upswing from $44,850 one year earlier, which is the largest annual percentage increase since April 2022. Home prices rose...
Alamo Drafthouse Cinema Chain Reportedly Up for Sale

Alamo Drafthouse Cinema Chain Reportedly Up for Sale

by Phil Hall | Mar 29, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The Alamo Drafthouse Cinema chain is reportedly available for sale. According to a report by the entertainment news outlet Deadline culled from unnamed sources, there is no asking price floated for the chain, which spans 41 locations across 13 states. Unlike other...
Brooklyn’s Tallest Building Going to Public Foreclosure Auction

Brooklyn’s Tallest Building Going to Public Foreclosure Auction

by Phil Hall | Mar 29, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The tallest building in Brooklyn is facing a public foreclosure auction after its developer defaulted on a mezzanine loan. According to a GlobeSt.com report, the property in question is the 93-story residential Brooklyn Tower, which was completed last year by JDS...
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