Tag Archives: Industry News

Foreign buyers target high-end homes as transactions fall 14%

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The average price of homes sold to foreign buyers was $639,900, the National Association of Realtors said. The median price was $396,400. Both numbers are record highs. Continue reading →

A doctor inherited a vacant lot. The home he found there shocked him

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Daniel Kenigsberg alleges a series of fraudulent documents led to his land being stolen last fall before contractors built a single-family house on his half-acre of land in Connecticut. Continue reading →

Offerpad scoops up more homes in Q2 as path to profitability emerges

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Having unloaded almost all of its older inventory, the iBuyer ramped up home acquisitions by 131 percent, to 840 homes, in the second quarter of 2023 and expects positive adjusted earnings by year’s end. Continue reading →

Team of rivals: Zillow, Redfin unite to share new construction listings

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New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders’ listings while aiding consumers. Continue reading →

An ‘entire neighborhood’ for sale? Let’s unpack that viral TikTok video

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A 35-home listing on Zillow has prompted debate over displacement and institutional investment — and pushback over a TikToker’s claim that an ‘entire neighborhood’ was about to hit the market. Continue reading →

Fractional investing platform CEO out after investors lose $63M

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CrowdStreet CEO Tore Steen ousted after $63 million from investors went missing in a deal a fiduciary said had “red flags that are indicators of fraud,” according to reports. Continue reading →

New SDAR CEO taking embezzlement suit ‘seriously’

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Cory Shepard took the reins at the San Diego Association of Realtors last week after now-former CEO Michael Mercurio was accused of stealing over $1M in association funds, the complaint reads. Four former executives filed the case against SDAR last week. Continue reading →

Rocket taps veteran fintech exec Varun Krishna as next CEO

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Changing of the guard demonstrates mortgage is just one component of a larger fintech strategy, with former Intuit, PayPal exec set to succeed interim CEO Bill Emerson on Sept. 5. Continue reading →

San Diego Realtors sack CEO after $1M embezzlement lawsuit

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The suit accuses now ex-CEO Mike Mercurio of using association credit cards for personal purchases, inflating his vacation time and selling items that the association paid for on eBay. Continue reading →

Former Keller Williams NYC office auctions for $11.3M

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Former Keller Williams NYC market center owners Ilan Bracha and Heim Binstock’s battle for their 377 Broadway office is officially over as a new owner snapped it up at an auction for $11.3 million. The office went into foreclosure in 2018 after the duo… Continue reading →