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Real Estate

Connecticut Declines to Take up Rent Cap Measure

March 13, 2023

The Connecticut legislature won’t take up a measure this session that would cap rent increases at 4 percent plus the consumer price index, the CT Mirror reported. Last week, the Housing Committee declined to advance the bill, instead passing a measure that will create task forces to study rent stabilization and its effect. “We need […]

Real Estate Quotes of the Week for March 12, 2023

March 13, 2023

The quote of the week is just four words, but they say so much: “The Fed is killing us.” Berkshire Hathaway HomeServices New York Properties’ CEO Steven James was referring to likely pending interest rate hikes by the Federal Reserve that will take the average 30-year fixed mortgage rate to over 7 percent, further cooling […]

Glendale Waitlist Highlights Arizona Affordability Shortage

March 13, 2023

A mother of five thought she was a shoo-in for Glendale’s affordable housing voucher waitlist in the summer of 2021. After more than 11,000 people from the country applied for just 350 spots, however, she received a devastating email: she didn’t get it. The Glendale voucher lottery is emblematic of affordable housing struggles across the […]

Fannie Mae looks at possibly bypassing title insurance

March 13, 2023

Fannie Mae is looking into a program that would forgo title insurance and attorney opinion letters, according to Housing Wire. The program would waive the title insurance requirements for some mortgage lenders on loans sold to Fannie Mae, the outlet said. The government-run company, which backs trillions of dollars of U.S. residential mortgages, would roll […]

Regulators Close New York-Based Signature Bank

March 13, 2023

Bank regulators on Sunday evening announced they have closed Signature Bank as they try to prevent a banking crisis spurred by the failure of Silicon Valley Bank. The state’s Department of Financial Services took possession of Signature, a major multifamily lender in New York, to protect depositors. The Federal Deposit Insurance Corporation was appointed receiver […]

Residential Real Estate Continues to Struggle

March 12, 2023

Commercial real estate isn’t the only sector struggling to get back on its feet. Residential is also suffering from a malaise after its pandemic-induced sugar high has been stifled by rising interest rates and limited inventory. And now, the springtime thaw brokers were hoping for looks more like a deep freeze. With the jobs report […]

Sheina Levin Pleads Guilty in Shelter Kickback Scheme

March 12, 2023

A New York City real estate brokerage owner pleaded guilty in federal court last week to paying kickbacks and bribes to Victor Rivera, the former head of one of the largest homeless shelter operators in the city, the New York Times reported. Sheina Levin, the owner of Urban Residences, pleaded guilty to one count of […]

Real Estate Scams on the Rise in New Orleans

March 12, 2023

The Big Easy is becoming a big landing spot for fraudsters looking to steal and sell land. There have been at least seven fraud attempts in New Orleans recently, 4WWL reported. Scammers are taking advantage of digital tools to try and fool parties of a real estate transaction into paying for land the scammers do […]

Jacqueline Kennedy Onassis’ Former Home Listed in Washington D.C.

March 12, 2023

A piece of Washington, D.C., history is hitting the market. The Georgetown property formed through the combination of three houses — one of which was home to former first lady Jacqueline Kennedy Onassis after the assassination of President John F. Kennedy — will be listed for $26.5 million, the Wall Street Journal reported. Jonathan Taylor, […]

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