Real Estate

Altisource names Patrick McClain senior vice president, Hubzu Auction Services

Previously worked at Auction.com
Altisource announced this week it has named Patrick McClain as senior vice president of Hubzu Auction Services. In his new role, McClain will be responsible for driving the growth of Hubzu’s residential online marketing and auction business and oversee product innovation for the company's online auction, live auction, short sale, claims without conveyance of title and national brokerage services businesses.
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First-time homebuyers struggle amid rising affordability challenges

Can only afford 20% of housing stock in some markets
A new study from NAR and realtor.com shows affordability continues to slip across the U.S., falling even further from last year as home prices continue to rise and mortgage rates increase. NAR explained that while wages are increasing, so are home prices. Here’s what can be done to combat the rising affordability issues.
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Mile-high appreciation

Veros' Eric Fox takes a look at the high-performing area of Denver-Aurora-Broomfield
Whether it's ranking America's highest rates of real estate appreciation or just its highest real estate, Washington and Colorado are top of the heap. Those states, which coincidentally have eight of the 10 highest peaks in the continental U.S., have six of the 10 Metropolitan Statistical Areas topping the most recent VeroFORECAST projections from Veros Real Estate Solutions. This week, Veros' Eric Fox takes a look at the high-performing area of Denver-Aurora-Broomfield.
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LERETA adds Bill Theisinger as chief technology officer

Will lead company’s tech efforts
LERETA, a national real estate tax and flood service provider, announced Tuesday morning that is has added Bill Theisinger as the company’s chief technology officer. Theisinger brings nearly 20 years of technology experience to his new role with LERETA, where he will focus on “creating business platforms that allow for greater efficiencies both internally and for the company’s customers.”
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Crowdfunding platform DiversyFund plans $50M investment in multifamily, commercial real estate

Claims new fund’s projected returns are between 15% and 20% per year
DiversyFund, a crowdfunding platform that specializes in real estate investing, is launching a new fund that will target multifamily and commercial real estate. The company is planning to raise $50 million for the fund with a minimum investment of $5,000, and claims that the fund’s projected returns are between 15% and 20% per year.
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NYDFS investigating whether rent-to-own is actually predatory lending

Issues warning on risks of rent-to-own contracts
The New York Department of Financial Services revealed Monday that it is currently investigating whether alternative home purchase agreements, such as rent-to-own, lease-to-own or land installment contracts, currently being offered in New York are actually “unlicensed, predatory mortgage lending.”
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Strong housing demand keeps builders optimistic in future

But confidence edges down slightly in April
Builder confidence edged down slightly in April as supply places a strain on builders, however confidence in the future remains on solid ground as homebuyer demand continues to surge. The National Association of Home Builders explained that as the spring home buying season begins, expect the market to continue to make gains at a gradual pace.
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