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Newly named NAR President also issued an apology for the association's past discriminatory behaviors The National Association of Realtors has rolled out a new, free interactive training platform designed to help combat discrimination in the real estate industry called Fairhaven. Fairhaven is a fair housing simulation exercise that will be offered directly to NAR members,...
Luxury real estate in Arizona is shaping up for a record year
When a home in the Silverleaf community of Scottsdale, Arizona, sold for $24.1 million in September, it set a new record as the highest-priced home sale in the state’s history. Sitting on 17 acres, the 15,000-square-foot mansion has eight bedrooms, 10 bathrooms, an indoor basketball court, and a 7,500-square-foot guest house. That sale broke the record...
New China Real Estate Billionaire has minted by Shinsun IPO
The start of Hong Kong trade on Wednesday by real estate developer Shinsun Holdings Group has formally minted a new China real estate billionaire family. Shanghai-headquartered Shinsun’s stock ended the day today at HK$5.60, little changed from its IPO price of HK$5.59.   The 79% stake held by a family trust controlled by Shinsun’s 69-year-old chairman...
DOJ filed a lawsuit for alleged antitrust violations to NAR
Complaint alleges that trade organization's practices and policies are anti-competitive The Department of Justice (DOJ) filed a lawsuit against the National Association of Realtors (NAR) on Thursday, alleging a series of violations of antitrust law, including commission arrangements and consumer disclosure requirements. NAR has adopted a “series of rules, policies, and practices governing, among other things, the publication and...
The impact of California's proposition 19 on property taxes
Realtor-supported effort may free up housing inventory in the Golden State A slim majority of California residents voted in favor of Proposition 19 on Election Day, green-lighting a motion that gives new property tax breaks to older homeowners while increasing property taxes for those inheriting their parents’ or grandparents’ properties.
The housing market is clearly hot, but not in a fortunate situation
But rising home prices are a concern Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at a historically high level of 19%, the same as last year, while...
A 30% over Zestimate was paid by Zillow cofounder, days after his $350M IPO
Spencer Rascoff, former CEO of the real estate search site Zillow Z +7.1%, has bought another Brentwood Park property minutes away from the one he purchased for $20 million a few years ago. This latest acquisition is a more modest three-bedroom, 3.5-bath home he paid $5.7 million for earlier this month. The sales prices is slightly lower than what it had been asking—a...
Fifth consecutive month increase in home sales
Sales are up 26.6% from last October Existing home sales grew for the fifth consecutive month in October, up 4.3% from September to a seasonally adjusted annual rate of 6.85 million, according to a report from the National Association of Realtors on Thursday. Compared to last October, sales are up 26.6%. “The surge in sales in...
North carolina can now use knock home swap
This is the 11th market the solution is offered in Homeowners in Charlotte, North Carolina and Raleigh, North Carolina can now use Knock Home Swap to purchase their new home before selling their old one. The solution is now available in 11 markets in six states. Home Swap is offered exclusively through local real...
60% upside potential for apartment investment and management co.
We believe that Apartment Investment and Management Co. stock (NYSE: AIV) has an upside potential of 60% in 1-2 years once the occupancy rates and demand in residential property rent and lease markets improves to pre-Covid levels. AIV trades at $32 currently and it has lost 38% in value year-to-date. It traded at a pre-Covid high of $54 in February...
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