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Florida Real-Estate Investor Has Huge Week With Nearly $99 Million in Property Sales
Source: The Wall Street Journal --- Hot on the heels of a $44 million deal to sell a pair of Bal Harbour, Fla., properties to WeWork founder Adam Neumann, Florida investor Joseph Imbesi has made another major sale. Mr. Imbesi closed on a nearly $55 million deal to...
No Immediate Relief From Skyrocketing Home Prices
Source:Forbes --- Looking to buy a house, but think house prices are going crazy? You’re not wrong. Housing prices are rocketing upwards across the country, showing their biggest annual gain since 2005. Existing homeowners are adding to their housing wealth, while...
U.S. Existing-Home Prices Hit Record High in May
Source: The Wall Street Journal --- U.S. home prices in May experienced their biggest annual increase in more than two decades, as a shortage of properties and low borrowing rates fueled demand. The median existing-home sales price in May topped $350,000 for the first...
Nonbank Lenders Are Dominating the Mortgage Market
Source: The Wall Street Journal --- Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks. Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry...
The US is short 6.8 million homes, National Association of Realtors says
Source: Business Insider --- Decades of chronic underbuilding left the US housing market with a colossal gap between consumer demand and nationwide supply, according to a new report from the National Association of Realtors. Home sales surged to a breakneck pace after...
Existing Midstate home sales have dropped again; real estate market cooling off
Source: ABC 27 --- Soaring prices and limited available properties are discouraging many would-be buyers in the latest real estate market.
Colorado home sale breaks real estate record by $25.5 million, according to report
Source: Out There Colorado --- A home sale in Aspen, Colorado is going viral, thanks to an unbelievably high closing price of $72.5 million. According to a report published by Aspen Daily News, not only is the sale of a mansion and guest house on Willoughby Way the...
These States Have The Hottest Real Estate Markets
Source: Financial Advisor Magazine --- If you’re in the market for a new home, be prepared for a bidding war because it’s a seller’s market. Prospective homebuyers across the U.S. are shelling out big bucks for homes during the pandemic, with remote workers and their...
HUD Aims to Boost Homeownership for Buyers With High Student Loans
Source:The Wall Street Journal --- The Federal Housing Administration is relaxing the way it assesses student-loan debt when weighing eligibility for homebuying assistance as the Biden administration pushes to help lower-income borrowers and narrow a racial gap in...
New York real estate pioneer Eugene H. Webb dead at 102
Source: Real Estate Weekly --- Eugene H. Webb, the co-founder and chairman of one of Harlem’s most successful real estate brokerage firms, has died at the age of 102. Born in Red Level, Alabama, on November 24, 1918, during the Spanish Flu pandemic that killed 500...
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