Florida REALTORS® pitch in to aid Ian response Marsha Evans, president of the Daytona Beach Area Association of REALTORS® in Florida, and fellow area REALTOR® Eva Garcia were among volunteers who helped deliver cases of bottled water to residents of a condominium community left without water or working elevators after Hurricane Ian. Full Story: The Daytona Beach News-Journal (Fla.) (10/3)
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Homebuilders look to make bulk deals with investors Homebuilders are seeking new avenues for sales as traditional buyers step away from the market amid higher mortgage rates. Some builders are offering to sell developments in bulk to investors, and the discounts to estimated retail value can be in the rage of 10% to 15%, according to market participants. Full Story: The Wall Street Journal (10/3)
Manhattan's real estate boom fading Sales of condos and co-ops in Manhattan are slowing, and selling prices are declining from their recent peaks, although the market is in better shape than it was prior to the arrival of the coronavirus pandemic, according to appraisers and brokers. "The market is resetting," said Jonathan Miller, president of Miller Samuel. Full Story: Bloomberg (10/4)
Technology & Innovations
RealPage to purchase software startup Knock The multifamily property management platform RealPage has agreed to acquire Knock, a startup that develops software for property managers. The Knock brand will remain in use after the deal closes. Full Story: GeekWire (9/30)
Fair & Equitable Housing
Confusion persists regarding housing definitions The definitions of "low-income housing" and "affordable housing," even within federal regulations, have led to confusion, says Andy Silver, Vancouver Housing Authority's chief operating officer. The U.S. Department of Housing and Urban Development, meanwhile, defines "workforce housing" as dwellings that are affordable to households that earn below the area's median income but do not qualify for rental subsidies. Full Story: The Columbian (Vancouver, Wash.) (tiered subscription model) (10/3)
Legislation & Regulation
Fannie Mae names Almodovar as next CEO Priscilla Almodovar will take over as CEO of Fannie Mae effective Dec. 5, succeeding interim CEO David Benson, who will continue as president. Almodovar is current president and CEO of Enterprise Community Partners. Full Story: GlobeSt (free registration) (10/3)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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