Institutional investors are cooling on the housing market, putting cash purchases on the back burner where they used to dominate. The share of investors buying homes with cash fell to 64% in Q1 2024, Realtor.com found, its lowest point since 2008 and down from 69.7% in Q4 202. The reason? Mom-and-pop investors are increasing their…
By KIMBERLEY HAAS Democratic lawmakers introduced a bill this week that would restrict tax breaks for corporate investors that purchase large quantities of homes. If passed, the Stop Predatory Investing Act would prohibit investors who acquire 50 or more single-family homes for rental purposes from deducting interest or depreciation on those properties. U.S. Sen. Sherrod Brown (D-Ohio),…
Salt Lake City was a pandemic hot spot but as the housing market evens out across the nation, one senior loan officer who works in the metropolitan area says buyers are seeing some relief. According to data from Redfin, home prices in Salt Lake City were down 8.5% in March compared to last year, selling…
Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced. In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions. “I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he…
Investors are backing away from the home purchase market as price appreciation continues to cool. Investor home purchases declined 45.8% YOY in Q4 2022, according to a new Redfin analysis of 40 U.S. metros. This is a record drop, besting 2008’s 45.1% dip during the subprime mortgage crisis. Quarter-over-quarter, investment purchases fell 27%, the largest…
By KIMBERLEY HAAS Two Kentucky real estate professionals who allegedly conspired to rig bids for farmland and timber rights each face up to 10 years in prison and a $1 million fine. Barry Dyer and Mackie Shelton allegedly rigged the bids for hundreds of acres of farmland and a tract of timber rights during an…
By KIMBERLEY HAAS Leaders at an online marketplace that connects property investors to homeowners selling as-is say their platform gives both parties more certainty during the process. People who have houses that are vacant, damaged from natural disasters, or have structural issues can be sold on the Sundae marketplace, but any number of potential sellers…
Luxury home sales tanked by 28.1% YOY in the three months ending August 31, the biggest drop since 2012, according to new Redfin data. The decline overtook even the 23.2% drop that happened at the beginning of the pandemic, when home sales slowed to a crawl in every area. Non-luxury home sales also fell by…
Mortgage rates remained basically the same over the last week, averaging 3.11%, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 3.11%, up only a smidge from last week’s 3.10%. A year ago at this time, the 30-year FRM averaged 2.71% “Mortgage rates continue to remain…
SFRhub.com has signed a Memorandum of Understanding with Altisource, with the goal of creating an online marketplace for SFR and BFR properties. The collaboration is intended to give SFRhub.com, a real estate investment platform specializing in single-family residential (SFR) and Build-For-Rent (BFR) investment portfolios, a “one-stop” platform for investors to buy and sell homes. Altisource,…
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