Is Compass the one real estate tech startup to rule them all? The company certainly has enough money to do so. Compass announced this week that it just raised another $400 million in its Series F funding round, which reportedly values the company at $4.4 billion.
In the four weeks ending on September 23, homes that sold above asking price dipped below 2016 levels, according to the latest data from Redfin. Redfin Senior Economist Taylor Marr the fact that fewer homes are selling above their asking price is another indication that competition is getting less intense than it has been in recent years.
New American Funding recently announced it appointed Justin Brown as the new leader of its L.A. West Region. Brown said he looks forward to better serving his customers in his new position at New American Funding.
Better Homes and Gardens Real Estate Paracle acquired three Raleigh, North Carolina offices from fellow Better Homes and Gardens Real Estate Franchise network member Better Homes and Gardens Real Estate Go Realty. In its statement Paracle says it acquired the offices break into the market it calls the “Silicon Valley of the East,” because of its appeal to major tech corporations like Apple and Amazon.
Opportunity zones are probably the buzziest potential solution for the affordability crisis and local economic stimulus out there at the moment. So, here’s the skinny on how they would work, some of the risks they present and what they are meant to accomplish.
The Federal Housing Administration announced Friday that it will require reverse mortgage lenders to provide a second property appraisal on loans flagged by FHA as potentially having an inflated property valuation. The agency said the move is intended to reduce risk to the Mutual Mortgage Insurance Fund, which will ultimately ensure the long-term sustainability of the program.
Co-living properties are growing in popularity and scope. According to a feature by Christopher Mims in the Wall Street Journal, communities that plan out residents’ social lives and take care of all the little time-wasting adult annoyances that pull at their attention after they punch out are fast carving out a niche for themselves in the multifamily market.
According to an analysis from RentCafé, luxury rentals, those that are Class B+ and above, dominate the multifamily market’s deliveries and they have been since 2015. As recent as 2015, three quarters of new apartment construction fell into the luxury category. By 2017 that number crept up to 79%, and so far, this year, it is looking like that number soar even higher.
Facebook just announced that 50 million accounts were affected in a cyberattack that comprised users’ login information. According to a statement from the social media giant, hackers exploited a vulnerability in Facebook’s code that allowed them to steal access tokens – the things that let users stay logged on indefinitely – via the “View As” feature, which allows users to see what their profile looks like to others.
Ocwen Financial’s $360 million acquisition of PHH Corp. is set to close within the next two weeks after the companies received approvals from all relevant regulatory agencies and governmental entities, the companies announced Friday morning. But the companies didn’t skate through the approval process total unscathed. Finalizing the deal comes with some conditions from the New York Department of Financial Services, which has long been a thorn in Ocwen’s side.
Karin Comeaux
Compass Realty & Management
8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148
(702) 328-4114
(702) 586-1616
