Suburbs Still Hot but Urban Demand Increasing
NAHB: During the pandemic, many city dwellers turned to suburban and exurb homes. The trend continues but less so as cities see a spike in buyer demand.
Too-Big-to-Fail Chinese RE Firm Creating Problems
Evergrande, a huge Chinese real estate firm, has a $310B mountain of debt. Collapse could create a housing crisis, but it’s unclear how China will handle it.
DOJ Successfully Sues Town Over Group Home Zoning
A Conn. town reached an agreement with the Justice Dept. after it used zoning laws to ban disabled-adult group homes from residential neighborhoods.
Code of Ethics Training Deadline: Dec. 31, 2021
To retain their Realtor status, members must satisfy NAR’s Code of Ethics training requirement within the next 24 days if they haven’t already done so.
Foreclosures Up 68% – but Less than Pre-Pandemic
The foreclosure ban ended, sending numbers higher (up 34% quarter-to-quarter, 68% year-to-year) – but the impact on the market is minimal so far.
Vrbo: Demand Up 40% for Pet-Friendly Rentals
The short-term rental company will add an upscale doghouse to a rental for an extra $100. It offers five styles, including a chalet with a fireplace.
Virtual Website ‘Real’ Estate Sells for Record $2.4M
As expectations for virtual “real estate” heat up, prices follow. That $2.4M buys 116 parcels (6,090-square-feet) in Decentraland, which only exists online.
Fla.’s CFO Focuses on Property Insurance Fraud
Chief Financial Officer Jimmy Patronis formed and deployed two new teams to investigate fraud – a total of 13 members that includes detectives.
Fla. Gets 22% of Foreign Investors; Miami, Orlando Lead
Foreign investors traditionally eye Miami but rising real estate costs have pushed them toward other metros, such as Orlando, Tampa and Jacksonville.
Zillow Offers Sold About Half Its Inventory So Far
A month after shutting down Zillow Offers, the company’s home-flipping, iBuyer business, Zillow will buy back stock, which fell about 60% so far this year.