C.A.R. Response: Two weeks ago, “C.A.R. learned that Glide Labs, Inc. was in the process of being acquired by Compass. C.A.R. immediately informed members of this news. That transaction is now official and has closed without C.A.R.’s consent. “With this change in ownership, C.A.R. remains concerned about privacy, data security, and operational control. As a […]
Industry News
Appeal Delays Judge’s Ruling to Lift Eviction Ban; CA Status
A U.S. District Court judge for the District of Columbia ruled last week that the CDC’s nationwide eviction moratorium is unlawful, striking down the ban and delivering relief to housing providers who haven’t been able to collect rent from struggling tenants for more than a year. But the struggle for housing providers isn’t over. The U.S. […]
Historic Low: Consumer Homebuying Sentiment
Consumer sentiment toward buying homes reached the lowest level in the history of the Fannie Mae Home Purchase Sentiment Index® (HPSI) it was reported Friday. Few should be surprised that the lack of supply and high home prices are driving this pessimism. “The decrease in homebuying sentiment likely indicates that some consumers, potentially flush with savings […]
How Top Brokers Cope With Tight Inventory
At a recent Inman Connect Now, brokers from across the country shared insights into how they’re adapting to the inventory insanity during a panel discussion titled, “Market Trends: What’s Heating Up in 2021.” Brokers shared advice on keeping buyers motivated, keeping sellers focused during bidding wars, bringing new listings to market and accomplishing these goals […]
Fannie, Freddie 1st Quarter
Fannie Mae earned $5 billion of net income in the first quarter and provided $422 billion for mortgages, enabling people across America to refinance a home, purchase a home, or finance rental property. “This last quarter was the second biggest nominal volume quarter in our history,” said Fannie Mae CEO Hugh R. Frater. The one caveat, […]
7 Tips to Advance Career
There are several actions that can bolster the career of professionals at different levels, in different fields and across industries. Here are 7 career advancement activities that you could do on a regular basis: 1 – Nurture a diverse and supportive network Get to know people two or more levels above you, because they can […]
Former Zillow CEO Claims iBuyers Are Not to Blame
Spencer Rascoff, a serial entrepreneur and former CEO of Zillow, knows there is a supply shortage in the housing market, but believes that iBuyers’ practice of buying and then re-listing homes does not contribute to that shortage. “They’re not at all a part of the inventory problem,” Rascoff argued. Rascoff made the comments recently at Inman Connect […]
What’s Keeping Your Buyers at a Disadvantage?
The soaring cost of building materials and the spiking interest in housing among investors are major contributors to today’s rising housing prices and lack of inventory that keep individual homebuyers at a disadvantage. As has been reported in Inman News, the coronavirus pandemic has reshuffled job markets, a years-long building shortfall and wave of millennials […]
No Foreclosures Until 2022?
(Orange County Register/SCNG) The Consumer Financial Protection Bureau proposed a new rule last Monday requiring mortgage servicers to delay foreclosure proceedings on principal residences until after Dec. 31. The proposed rule would affect all servicing lenders, not just Fannie, Freddie, FHA and VA servicers that fell under the original CARES Act forbearance mandates. The CFPB […]
Arrests in Real Estate Scam
A Southern California brother-and-sister team were arrested last week on federal charges alleging they orchestrated a $6 million real estate fraud scam in which they listed homes without the owners’ consent and collected money from multiple would-be buyers for each home. Adolfo Schoneke, 43, of Torrance, and Bianca Gonzalez, 38, along with co-conspirators operated real […]