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January cyberattack a $37M weight on loanDepot Q1 2024 results

USA Real Estate News-Inman - Tue, 2024-05-07 16:53
In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.

Redfin rides momentum to Q1 revenue bump, beats expectations

USA Real Estate News-Inman - Tue, 2024-05-07 15:45
Seattle-based Redfin's revenue increased 5 percent year over year to $225.5 million — beating revenue projections of $218.1 million. Still, the company is struggling to control its net losses, which grew nearly 10 percent from 2023.

Never Count Real Estate Agents Out

USA Real Estate News-RISMedia - Tue, 2024-05-07 15:10

In the wake of recent headlines surrounding the National Association of REALTORS®’ lawsuit settlement and the Department of Justice’s renewed interest in investigating commission practices, skepticism regarding the value of real estate professionals has surfaced across the nation. Yet, amidst the noise, it would be foolish to overlook the enduring significance of the role you…

The post Never Count Real Estate Agents Out appeared first on RISMedia.

Better settles with former exec who filed whistleblower suit

USA Real Estate News-Inman - Tue, 2024-05-07 15:09
Former operations head Sarah Pierce, who had accused Better CEO Vishal Garg of providing misleading information to investors in leadup to SPAC, faced $2.76 million judgment in countersuit.

Fannie Mae Shows Consumer Sentiment Plateauing

USA Real Estate News-RISMedia - Tue, 2024-05-07 14:57

The latest monthly update to the Fannie Mae Home Purchase Sentiment Index (HSPI)–for April 2024–shows the index at 71.9 percentage points (representative of how many consumers think now is a good time to buy). The rating is unchanged from March 2024 and 5.1 points higher from April 2023.  In a release, Fannie Mae described these…

The post Fannie Mae Shows Consumer Sentiment Plateauing appeared first on RISMedia.

Leading Laguna Beach team returns to Compass from Coldwell

USA Real Estate News-Inman - Tue, 2024-05-07 14:55
The Marcus Skenderian Real Estate Group is boomeranging back to Compass after three years away to launch its own brick-and-mortar office in Laguna Beach.

ERA Real Estate Launches New Coaching Program

USA Real Estate News-RISMedia - Tue, 2024-05-07 14:52

ERA® Real Estate has announced the launch of its ERA Coaching Program. The program, designed for all ERA-affiliated agents regardless of experience level, is offered at no cost to participants.  The ERA Coaching Program will gather agents in their brokerage’s office to attend the program via watch parties. The program consists of seven, two-hour live,…

The post ERA Real Estate Launches New Coaching Program appeared first on RISMedia.

NAR Chief Economist Predicts Falling Long-Term Interest Rates, Rising Existing-Home Sales in 2024

USA Real Estate News-RISMedia - Tue, 2024-05-07 14:09

The National Association of REALTORS®’ Chief Economist Lawrence Yun forecasted that interest rates will fall in the long term, 2024 existing-home sales will rise to 4.46 million (up 9% from 4.09 million in 2023) and 2025 existing-home sales will increase to 5.05 million (up 13.2% from 2024)—with further gains in eight of the next 10…

The post NAR Chief Economist Predicts Falling Long-Term Interest Rates, Rising Existing-Home Sales in 2024 appeared first on RISMedia.

NYC rents grew 7 times faster than wages last year

USA Real Estate News-Inman - Tue, 2024-05-07 13:49
The nation's biggest city saw the biggest gap emerge between the rates of wage growth and rent growth.

$60M non-waterfront Palm Beach estate one of the priciest ever sold

USA Real Estate News-Inman - Tue, 2024-05-07 13:34
The mansion on Banyan Road was gut-renovated by homeowner and interior designer Victoria Hagan before being sold off-market to an unknown buyer.

AREAA, Fair Housing Advocates File Lawsuit Alleging Discrimination

USA Real Estate News-RISMedia - Tue, 2024-05-07 12:49

The National Fair Housing Alliance (NFHA), Asian Real Estate Association of America (AREAA), Housing Opportunities Project for Excellence, Inc. and the Fair Housing Center of the Greater Palm Beaches, have filed a fair housing discrimination suit in Miami federal court, together challenging Florida’s state law SB 264. Each organization is claiming the bill violates the…

The post AREAA, Fair Housing Advocates File Lawsuit Alleging Discrimination appeared first on RISMedia.

Florida is king for short-term rental investors: Study

USA Real Estate News-Inman - Tue, 2024-05-07 12:01
Enviable weather, ocean views and a lengthy list of landmark tourist destinations have made Florida a treasure chest for short-term rental investors. A Clever Real Estate market analysis published on Tuesday revealed strong property values, robust population growth, and year-round tourist demand have made Tampa, Orlando, Jacksonville and Miami top-tier cities for short-term rentals on Airbnb and other platforms.

NAR Panel: Financing Buyer Commission Could Be Expensive and Dangerous

USA Real Estate News-RISMedia - Tue, 2024-05-07 11:42

Bringing together ostensible outsiders with deep experience in the realm of housing policy and finance, the National Association of REALTORS® (NAR) billed the panel—taking place during the organization’s midyear legislative meetings in Washington D.C. yesterday—as an overview of “practical and policy solutions in a post-settlement environment.”   Really, however, the focus was on one policy—financing buyer…

The post NAR Panel: Financing Buyer Commission Could Be Expensive and Dangerous appeared first on RISMedia.

Offerpad Q1 Earnings: Revenue Way Down, Though Improvements Cited

USA Real Estate News-RISMedia - Tue, 2024-05-07 11:35

In a Q1 earnings call May 6, technology real estate company Offerpad Chairman and CEO Brian Bair put as positive a spin as he could on numbers that continue to exist in the negative, preferring to accentuate a growth pattern through smaller losses this year over last.  The iBuyer’s revenue was sharply down in the…

The post Offerpad Q1 Earnings: Revenue Way Down, Though Improvements Cited appeared first on RISMedia.

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