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Hits and Misses for the Real Estate Week of Dec. 4-8
This week’s round-up includes a governor who wants to build a lot of starter homes, an unlikely choice for Person of the Year and Jamie Dimon’s cantankerous slam of cryptocurrency.
Tech Trends: Using Technology to Take Advantage of Falling Mortgage Rates
“Brokers deserve access to the same quality tools as their enterprise lender colleagues,” said Floify President and General Manager Sofia Rossato.
MG Properties Acquires Denver Apartment Community for $76 Million
“This investment reflects our confidence in Denver’s economic growth potential,” said Jeff Gleiberman, president of MG Properties.
Additional Reading: Realtor Tools & Insights
AARP Foundation Joins Class Action Lawsuit Against Reverse Mortgage Companies
The lawsuit claims the companies allegedly added unlawful fees for appraisals, inspections, property preservation, and attorneys’ fees or costs.
Study: Americans Spent an Average of $13K on Home Repairs and Renovations This Year
For the first year since 2020, Covid was not among the most common reasons for projects not being completed.
Chris Hipps Named Texas Managing Principal for Cushman & Wakefield
Hipps will start on Jan. 2 and will be based in Dallas.
Ashcroft Capital Adds South Florida Community to its Portfolio
The acquisition marks Ashcroft’s 10th apartment community within Florida and its first in the South Florida market.
Axos Closes Purchase of Two Loan Portfolios from the FDIC
“We believe that we purchased these performing loans at an attractive valuation that will be accretive to our net interest margin and net interest income,” said Greg Garrabrants, president and CEO of Axos.
Off-Duty NYPD Officers Stop Arsonist Trying to Torch Martin Luther King Jr. Home in Atlanta
“That action saved an important part of American history tonight,” said Atlanta Police Chief Darin Schierbaum.
New Bill Would Ban Hedge Funds from Owning Single-Family Homes
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street,” said Sen. Jeff Merkley.
eXp Realty Expands Luxury Program to Four Countries
eXp Luxury launched in October 2022 in the U.S. and expanded in Canada last September and Puerto Rico last month.
Redfin Launches AI-Powered Tool to Redesign Listing Photos
The new feature is available for all active Redfin listings and eligible sold Redfin listings in the U.S. on Redfin.com and iPhone.
Mortgage Rates Continue to Plummet
“The 30-year fixed-rate mortgage averaged near 7%, down from nearly 7.80% just six weeks ago,” said Sam Khater, Freddie Mac’s chief economist.
Utah’s Governor Proposes Building 35,000 Starter Homes by 2028
“Our kids will never be able to call Utah home if we don’t start building starter homes again,” said Gov. Spencer Cox.
California, New Jersey and Illinois Cited as Most At-Risk Q3 Housing Markets
“Some parts of the country continue to pop up on the radar as places to watch for signs of housing-market drop-offs, based on key quarterly measures,” said Rob Barber, CEO at ATTOM.
HUD in New Climate Change Endeavors
HUD Secretary Fudge spoke of her department’s “strong and enduring commitment to energy efficiency and climate resiliency.”
Exclusive WRE Articles
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CMBS DELINQUENCY RATE DROPS BY FIVE BASIS POINTS. Learn more at https://wrenews.com/cmbs-delinquency-rate-drops-by-five-basis-points/
JEF CONN NAMED 2024 BOARD CHAIRMAN OF TEXAS REALTORS. Learn more at https://wrenews.com/jef-conn-named-2024-board-chairman-of-texas-realtors/
MBA’S BROEKSMIT EXPRESSES ‘SIGNIFICANT CONCERN’ OVER PAUSING FORECLOSURES ON VA-GUARANTEED LOANS. Learn more at https://wrenews.com/mbas-broeksmit-expresses-significant-concern-over-pausing-foreclosures-on-va-guaranteed-loans/
