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California Senate Approves Bill to Expand Down Payment Program to Illegal Immigrants

California Senate Approves Bill to Expand Down Payment Program to Illegal Immigrants

by Phil Hall | Aug 29, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The California State Senate voted 23-11 to approve a bill that opens a state program for down payment assistance to illegal immigrants. However, it is unclear whether Gov. Gavin Newsom will sign or veto the bill. AB 1840 would require the California Dream for All...
Atlanta Fed Chief Recommends Waiting on Rate Cuts

Atlanta Fed Chief Recommends Waiting on Rate Cuts

by Phil Hall | Aug 29, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Federal Reserve Bank of Atlanta President Raphael Bostic is seeking to dial down the enthusiasm over a potential rate cut by the central bank next month, arguing there was no rush for such an action. Reuters reported that Bostic used a speech in Atlanta to declare he...
Calque Launches Contingency Buster, a New ‘Buy Before You Sell’ Program

Calque Launches Contingency Buster, a New ‘Buy Before You Sell’ Program

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

Calque, an Austin-headquartered fintech, has debuted the Contingency Buster, its newest “buy before you sell” program. According to the company, the Contingency Buster is designed for homeowners who want to quickly remove home sale contingencies and debt-to-income...
California Approves Allstate’s Request for Home Insurance Hike of 34% on Average

California Approves Allstate’s Request for Home Insurance Hike of 34% on Average

by Phil Hall | Aug 28, 2024 | Industry Updates, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Allstate has been approved for the largest rate increase in California of any major insurer in the past three years. California’s Department of Insurance has approved Allstate’s request to jack up its home insurance rates by an average of 34.1% for its approximately...
Treasury Issues New Rule to Prevent Money Laundering Through Housing Market

Treasury Issues New Rule to Prevent Money Laundering Through Housing Market

by Phil Hall | Aug 28, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two rules designed to safeguard the residential real estate and investment adviser sectors from money laundering. The final residential real estate rule will require certain...
Worth Clark Realty Acquires Texas Brokerage

Worth Clark Realty Acquires Texas Brokerage

by Phil Hall | Aug 28, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Worth Clark Realty announced its acquisition of South Estates Realty, a brokerage based in the Dallas-Fort Worth area. South Estates Realty recorded $54 million in sales volume and 157 transactions in 2023. The financial terms of the deal were not disclosed, and the...
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