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Listing agent Chelsea Dimin of Compass needed just under a month to get this $32.67 million Maui listing under contract in one of the island's largest residential deals. Dimin says the location, lot and amenities attracted multiple buyers.
Instagram will update its home screen in February, following tests that began in September, in what CEO Adam Mosseri says is a focus on simplicity. Changes include shifting the Reels button, making the Compose button central to the navigation bar and removing the Shop tab but maintaining its functionality within the app.
Wells Fargo will offer home loans only to current bank and wealth-management clients, as well as minority communities, with consumer lending chief Kleber Santos stating "we determined that our home-lending business was too large, both in terms of overall size and its scope." The bank, formerly the nation's top mortgage lender, is also closing its associated business that buys loans from third-party lenders and is selling a large number of assets from its mortgage-servicing portfolio.
Anywhere Real Estate has continued to lay off workers as the company pursues "digitized offerings, systems and support" and weathers the housing market slowdown.
Data analytics, artificial intelligence and 5G connectivity are among technologies that will continue to transform the real estate sector in 2023, says David Bitton of DoorLoop. Bitton says the use of chatbots and virtual assistants will continue to rise and data security will remain a top concern.
A report by the Jain Family Institute finds that the student-loan repayment pause has helped young Americans to become homeowners and "participate in the recent housing boom." The report cites an uptick in homeownership for those age 18 to 35.
Under terms of a settlement with the Department of Justice, Meta has agreed to enable a more "equitable distribution of ads" and will no longer let advertisers exclude protected groups, a practice the department had said supported housing discrimination.
The Federal Home Loan Bank of San Francisco late last year advanced $4.3 billion to Silvergate Capital, which found itself short of liquidity after crypto exchange FTX collapsed. The loan has raised questions over the purpose and function of the bank, which is already undergoing a Federal Housing Finance Agency review, with Karen Petrou, managing partner at Federal Financial Analytics, commenting: "The housing mission of the Home Loan banks is apparently long gone, since this has nothing to do with housing."
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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