Real Estate

Altisource Residential changing its name to Front Yard Residential

Name change effective on Feb. 21, 2018
Altisource Residential, apparently tired of being confused with Altisource Portfolio Solutions and Altisource Asset Management, announced Friday that it plans to change its name to Front Yard Residential. According to the company, the name change will take effect on Feb. 21, 2018.
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Detroit suddenly reverses ban on Airbnb hosts

Reversal comes just days after enforcement began
Just a few days after the city of Detroit started handing out cease and desist orders to some of its downtown Airbnb hosts, the city council voted to lift the ban. After going into effect Tuesday, it appears many of the city’s officials were caught off guard by the change, which was hidden as one sentence in a 200-page update to the city’s zoning code.
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Detroit cracks down on Airbnb rentals

Short-term rentals now banned in some downtown areas
The city of Detroit, Michigan, recently voted to ban Airbnb in some of the city’s zones and is now sending out cease and desist letters. A new update went into effect Tuesday making it illegal for property owners in the city's R1 and R2 zones to rent out rooms in a home or apartment.
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Americans gain confidence in housing as home prices rise

Increasing share saying now is a good time to buy
Fannie Mae’s latest survey shows Americans continue to gain confidence in the housing market, not just despite, but even because of rising home prices. Over the past year, home prices have continued to rise, threatening affordability, and housing inventory is falling dangerously low. However, despite these setbacks, Americans continue to hold a positive view of the housing economy.
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NAR: Renters say they want to own a home

But not for the reasons you might think
About 75% of current non-homeowners say they would like to own a home one day, and consider it as part of the American Dream. However, the reasons why they want to buy a home, or more specifically, one major reason that isn’t a factor in their decision, might come as a surprise.
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Operationalizing the digital real estate transaction, from start to eClose

Number of completed eClosings continues to climb, yet industry volume remains relatively small
[Expert commentary] Another year has passed and like previous years, we saw tremendous energy and effort dedicated to encouraging widespread adoption of electronic real estate transactions. And yet, we’re still not there. For large numbers of eClose transactions to become scalable and industry-wide, it must work for everyone across the end-to-end fulfillment process without the friction that currently exists.
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CoreLogic: Home prices to reverse course in January

Could decrease up to 0.4%
Home prices are increasing both month-over-month and annually, but that could soon reverse course and drop in January, according to CoreLogic's Home Price Index. But for now, more than one-third of the nation’s largest metro area housing markets are considered overvalued.
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Las Vegas sees boom in housing starts

Hits highest level since 2008
Housing starts in Las Vegas, Nevada, surged to housing boom levels at the end of 2017. However, these new homes are increasingly being built as more expensive, trade-up homes. In 2016, 42% of homes built were priced below $300,000, but in 2017, only 21% were built below that price line.
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