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Market Snapshot: Florida Home Buyers Are Paying for Overvalued Properties

Market Snapshot: Florida Home Buyers Are Paying for Overvalued Properties

by Phil Hall | May 5, 2023 | Market Snapshot, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new data study determined that Florida home buyers are paying much more than they should for their properties, based on long-term pricing trends. According to the Real Estate Initiative at Florida Atlantic University (FAU), all nine of the state’s nine measured...
Nearly Half of Homes Sold Within Two Weeks of Being Listed

Nearly Half of Homes Sold Within Two Weeks of Being Listed

by Phil Hall | May 5, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Nearly half of the homes that are being listed for sale are being snatched up almost immediately, according to new data from Redfin (NASDAQ: RDFN). For the four-week period ending April 30, Redfin found 48% of homes that sold during that period went under contract...
Simon Property Group Puts New Focus on Residential and Hotel Development

Simon Property Group Puts New Focus on Residential and Hotel Development

by Phil Hall | May 5, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Simon Property Group (NYSE:SPG) is focusing its near-term future on developing multifamily housing and hotels. Indianapolis-headquartered REIT announced during its Q1 earnings call this week that is plans to develop and construct approximately 2,000 residential units...
New York State Considers Raising Reverse Mortgage Borrower Age

New York State Considers Raising Reverse Mortgage Borrower Age

by Phil Hall | May 5, 2023 | Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

The New York State Assembly now considering a bill that would raise the minimum borrower age for a reverse mortgage customer from 60 to 62. Reverse Mortgage Daily reported that State Assembly Bill A5877 would also make additional changes to the state’s reverse...
Montreal Homes Sales in 26% Decline

Montreal Homes Sales in 26% Decline

by Phil Hall | May 5, 2023 | International Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The spirit of T.S. Eliot permeated Montreal’s residential housing environment, for April was truly the cruelest month – the market’s sales totaled 3,755 last month, a 26% year-over-year plummet to the lowest point since 2000 for the month of April (not counting the...
The Real Brokerage Expands Into Manitoba

The Real Brokerage Expands Into Manitoba

by Phil Hall | May 5, 2023 | International Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) announced its expansion into Manitoba, which gives the company a presence in four Canadian provinces. The new Manitoba operations features with 22 agents, including two of the area’s top producing teams, Peters...
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