A report from Banking Dive. "Wells Fargo has begun laying off an undisclosed number of its home lending employees, little more than a week after reporting mortgage origination volume had dropped 33% year over year, the bank confirmed Friday. Anonymous…
A report from the Pioneer Press in Minnesota. "Bob Walser has rented out a Randolph Avenue duplex for four years, with the goal of someday selling it for retirement income. He’s worried that a 3 percent cap on rents will…
A press release from the Coronado Times. "Record home price appreciation in the last few years has pushed tappable home equity to new heights! According to Black Knight, the third quarter of 2021 saw a nearly $250 billion increase in…
A report from the Oklahoman. "Prices for new homes are outpacing appraisals, busting purchase contracts if buyers and builders can't come to terms and fill the financing gap. Metro-area Realtors discussion mentioned appraised values for new homes falling short of…
A report from the Denver Business Journal. "Mark Vitner, senior economist at Wells Fargo & Co., said companies in the iBuying space are essentially IT companies. 'In this market, it's been very hard to collect accurate information,' Vitner said. 'We…
A report from the Wall Street Journal. "An unusually high number of homes across the country are being appraised below their agreed-upon sales prices, causing a number of deals to collapse. In recent months, during the height of the boom,…
A report from the Honolulu Star advertiser in Hawaii. "A Hong Kong-based company with plans to develop an Atlantis-themed resort along with two other big hotel and residential projects in West Oahu has been trying to sell all three properties…
It's Friday desk clearing time for this blogger. "Have Northern Virginia home sellers missed the sweet spot? The D.C. region’s red-hot housing market has begun to show signs of fatigue, and in Northern Virginia the market softened in August. 'Overall…
A report from the Real Deal on Florida. "Ken Griffin has left Faena House. The CEO of Chicago-based Citadel sold his remaining penthouse at the ultra-luxury Miami Beach condo building, a three-bedroom, 4,243-square-foot unit, for $11.2 million. Griffin paid $60…
A report from Spectrum News on North Carolina. "Realtors in the Triangle say an inventory crisis is making the market frustrating for buyers but a great time for people looking to sell. 'We know it sounds crazy to offer what…