Today’s average homebuyer has a six-digit household income, according to new data released by the National Association of Realtors (NAR). In a survey of roughly 6,800 buyers involved in real estate transactions between July 2022 and June 2023, NAR determined the...
New Jersey Attorney General Matthew J. Platkin announced the indictment of a father and son who allegedly defrauded investors and mortgage lenders of more than $2.5 million in a scam involving Jersey Shore real estate. George Bussanich Sr., 65, and his 43-year-old son...
Only 37.4% of new and existing homes sold during the third quarter were affordable to families earning the median income of $96,300, according to the National Association of Home Builders (NAHB)/Wells Fargo (NYSE:WFC) Housing Opportunity Index (HOI). This is down from...
The Federal Housing Administration (FHA) is seeking industry feedback on a proposed update to its Home Equity Conversion Mortgage (HECM) assignment claims eligibility policy. Under current program requirements, mortgage servicers can assign a HECM to the U.S....
The Connecticut estate of the award-winning Broadway composer and lyricist Stephen Sondheim has been listed for sale at $3.25 million. The 9.06-acre property in the town of Roxbury features a 3,698-square-foot residence with a history tracing back to 1792. The...
The Green New Deal’s impact on home builders, an FHLB expansion to include nonbanks, and a historic church’s upcoming date with a wrecking ball. From the wild and wooly world of real estate, here are the hits and misses for the real estate week of Nov. 6-10. Hit: DOE,...
Hits and Misses for the Real Estate Week of May 4-8
