Featured Real Estate News
Miami Real Estate Developer Indicted for $85 Million Fraud Scheme
A Miami real estate developer has been indicted in federal court for orchestrating an $85 million fraud scheme, failing to pay millions in taxes, and lying to financial institutions to obtain funds to purchase a luxury yacht. According to court documents, Rishi Kapoor...
Miami Real Estate Developer Indicted for $85 Million Fraud Scheme
The US Securities and Exchange Commission also filed a separate civil action against Rishi Kapoor. Continue Reading Miami Real Estate Developer Indicted for $85 Million Fraud Scheme
UWM Acquires REIT Two Harbors Investment Corp. for $1.3 Billion
UWM Holdings Corporation (NYSE: UWMC), the parent of United Wholesale Mortgage (UWM), is acquiring Two Harbors Investment Corp. (NYSE: TWO), a real estate investment trust, in an all-stock transaction for $1.3 billion. Two Harbors is one of the nation’s largest...
Mortgage Application Activity Down by Nearly 4%
Mortgage application activity slowed during the week ending Dec. 12, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, was down by 3.8% on a seasonally adjusted basis from...
Former Deloitte Executive Kenny M. Smith Named CEO at Freddie Mac
Freddie Mac (OTCQB: FMCC) announced the appointment of Kenny M. Smith as CEO, effective today. He also will serve as a member of the company’s board of directors. The previous CEO, Biden-appointee Diane Reid, was fired in March by Bill Pulte, the Federal Housing...
News & Current Events
Vermont Governor Seeks to Use State Surplus Revenue to Cut Proposed Property Tax Hike
Vermont Gov. Phil Scott is seeking to use surplus state funds to reduce a projected 12% property tax hike slated for 2026, but the Republican governor is getting pushback from some Democratic legislators over his plan. Vermont Public reports Scott’s administration...
Brazil to Conduct Real Estate Auction Using Blockchain Technology
The Brazilian auction market has been disrupted with altered documents, fake websites, and inconsistent public records. Continue Reading Brazil to Conduct Real Estate Auction Using Blockchain Technology
Mark E. Patten to Become CFO at Sun Communities
Patten will succeed Fernando Castro-Caratini, who will transition into an advisory role with the company. Continue Reading Mark E. Patten to Become CFO at Sun Communities
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Finland Passes Law Banning Russians from Buying Real Estate
Minister of Defense Antti Häkkänen said, “This decision sends a clear message — we will not allow Finland to be undermined.” Continue Reading Finland Passes Law Banning Russians from Buying Real Estate
Two Illinois MLSs Team on Data-Sharing Partnership
“This is a major step toward improving real estate collaboration,” said MRED President and CEO Rebecca Jensen. Continue Reading Two Illinois MLSs Team on Data-Sharing Partnership
Home Price Increases Slowed for the Third Consecutive Month
Prices have increased for 21 consecutive months, with price appreciation peaking at 5.6% in December. Continue Reading Home Price Increases Slowed for the Third Consecutive Month
New Bipartisan Effort to Upgrade Affordable Housing Credit Program
Reps. Darin LaHood (R-IL), Suzan DelBene (D-WA) reintroduced the bill. Continue Reading New Bipartisan Effort to Upgrade Affordable Housing Credit Program
Airbnb’s SuperPAC Aims $5 Million at NYC Election Campaigns
Airbnb has yet to financially back any of the candidates for mayor. Continue Reading Airbnb’s SuperPAC Aims $5 Million at NYC Election Campaigns
Toronto Office Building to Become Loft-Style Residential Property
The e-lofts are being aimed at “young professionals, creatives, and urban families seeking a dynamic live/work lifestyle.” Continue Reading Toronto Office Building to Become Loft-Style Residential Property
Penthouse in World’s Tallest Building Listed for $51 Million
The 107th and 108th floors of the Burj Khalifa are approximately 1,300 feet above the streets of Dubai. Continue Reading Penthouse in World’s Tallest Building Listed for $51 Million
Zillow Bans Private Listings from Platform
eXp Realty has become the first brokerage to align itself with Zillow’s new policy. Continue Reading Zillow Bans Private Listings from Platform
Pending Home Sales in Mid-Atlantic Region Up by Nearly 40%
“Falling mortgage rates could give the housing market a boost this spring,” said Dr. Lisa Sturtevant, chief economist at Bright MLS. Continue Reading Pending Home Sales in Mid-Atlantic Region Up by Nearly 40%