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Hits and Misses for the Real Estate Week of May 29-June 2

Hits and Misses for the Real Estate Week of May 29-June 2

by Phil Hall | Jun 2, 2023 | Commercial Real Estate News, Hits and Misses, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The world’s richest man talks about real estate, a tenant pulls a fast one on his trusting landlord and a historic theater gets a new lease on life. Looking into the wild and wooly world of real estate, here are our Hits and Misses for this week. Hit: Mr. Musk Weighs...
Mariah Carey Sells Atlanta Mansion at Discounted Price

Mariah Carey Sells Atlanta Mansion at Discounted Price

by Phil Hall | Jun 2, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mariah Carey hit a decidedly off-key note in the effort to sell her Atlanta mansion. According to the Atlanta Journal-Constitution, the Grammy-winning music star acquired her 4-acre property featuring a 12,575-square-foot residence with nine bedrooms and nine...
Inflation Causes Most Homeowners to Postpone Renovations, But They’re Not Planning to Move

Inflation Causes Most Homeowners to Postpone Renovations, But They’re Not Planning to Move

by Phil Hall | Jun 2, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Inflation is hammering homeowners who were previously eager to pursue renovations on their residence, according to a new survey from Discover Home Loans. However, a challenging economy is also keeping most of their homeowners from moving out and searching for a new...
Feds Seek Input on Updating AVM Quality Control Standards

Feds Seek Input on Updating AVM Quality Control Standards

by Phil Hall | Jun 2, 2023 | Industry Updates, Real Estate Agent Tools, Real Estate News, U.S. Housing Market, WRE News Exclusive

Six federal regulatory agencies have jointly requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations. In a statement, the agencies said the proposed rule would “implement quality control...
FHLBank Boston Debuts Pilot Program to Assist Nonwhite First-Time Buyers

FHLBank Boston Debuts Pilot Program to Assist Nonwhite First-Time Buyers

by Phil Hall | Jun 2, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Federal Home Loan Bank of Boston (FHLBank Boston) is rolling out Lift Up Homeownership, a pilot program designed provide down payment and closing cost assistance to people of color who are purchasing their first home. Lift Up Homeownership will be available to...
ESSA Bank & Trust in $3 Million Settlement with Feds Over Redlining Charges

ESSA Bank & Trust in $3 Million Settlement with Feds Over Redlining Charges

by Phil Hall | Jun 2, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The U.S. Department of Justice (DOJ) has reached a $3 million settlement with ESSA Bank & Trust (ESSA) to resolve allegations that it engaged in the redlining of majority-Black and Hispanic neighborhoods in and around Philadelphia. According to the DOJ, ESSA...
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