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What do you call an iBuyer that isn't iBuying houses?

20 hours ago | housingwire.com | Jeff Andrews

Opendoor and Offerpad effectively identified a need for home sellers — the ability to line up the timelines between selling and buying a home. They use algorithms to provide sellers an instant cash offer. If it’s accepted, they fix up the home and sell it on the open market. The seller can then move out whenever their new home is ready to move into. This business model is highly capital intensive, operates on low margins, has long transaction times and requires high volume to reach breakeven.
eXp Realty launches UPGRADE community with new hire

21 hours ago | housingwire.com | Jonathan Delozier

“This is more than a move, it’s a mission,” Williams said in a statement. “I’m joining eXp Realty to build the UPGRADE community with eXp powerhouse Spring Bengtzen.”The UPGRADE community — an acronym for Unlock Potential, Grow Real Estate, And Design Everything — is positioned as a multifaceted platform with a focus on personal development, health, business, leadership, investing and lifestyle.
MORE Seller Financing wants to debunk 'the bad rap for wraps'

21 hours ago | housingwire.com | Jonathan Delozier

“We are the very first company in the country to standardize the seller financing process, put a wrapper around it, brand it and call it MORE,” Leahy told HousingWire. “And we show sellers how to get more money for their home, and we show buyers how to buy more home for less money.”Seller financing, a method by which a home seller provides direct financing to the buyer, saw popularity in the 1980s and ’90s when traditional interest rates soared. Today, Leahy sees a similar affordability crisis.
Foreclosures are up 14% in the past year, ATTOM says

23 hours ago | housingwire.com | Jonathan Delozier

Lenders initiated foreclosures on 25,265 properties in April, up 0.8% from March and 16.1% from the same time last year. Texas led all states in new filings with 3,280 foreclosure starts, followed by Florida (2,810), California (2,501), Illinois (1,313), and Ohio (1,135). At the metro level, Houston had the most foreclosure starts during the month with 1,202 filings, followed by Chicago (1,139), New York (1,099), Miami (739) and Atlanta (665).
Merger creates largest Century 21 firm in Louisiana

1 day ago | housingwire.com | Jonathan Delozier

The merger brings together two multigenerational companies with deep local roots and decades of industry leadership. The new firm includes two offices and roughly 85 independent agents, covering markets from Lake Charles to Baton Rouge and Shreveport. Flavin Realty was founded in 1976 by Bill Flavin and has remained a family business ever since. The company has been a top real estate performer in Calcasieu Parish since 1991 and is now led by Bill’s grandson, Beau Flavin.
Builder confidence continues to slide on economic uncertainty

1 day ago | housingwire.com | Jeff Andrews

The survey gauges how builders feel about single-family home sales and expectations over the next six months. An index reading of 50 indicates that builders view conditions more positively than negatively. While new-home sales have been a recent bright spot amid a slugging housing market, the space has been rattled by President Donald Trump’s ever-shifting tariffs. These have created cost uncertainty for imported building materials, particularly those from China.
Housing affordability drops sharply for middle-class: NAR

1 day ago | housingwire.com | Jeff Andrews

Households making $75,000 were able to afford 48.8% of home listings in 2019, but that number has since cratered to 21.2%. For households making $100,000, the drop between 2019 to 2025 is from 64.7% to 37.1%. Both are 27.6 percentage point drops. NAR’s report hammers home that the problem is a lack of inventory. For the $75,000 income bracket, there’s a shortage of 415,944 listings. For those making $50,000, it’s a shortage of 366,924 and the shortage is 363,684 for the $100,000 income bracket.
Virtuo homebuyer concierge platform launches in Texas

1 day ago | housingwire.com | Jonathan Delozier

The platform coordinates a range of services from contract to move-in, including utility setup, address changes and home maintenance. “Texas was a natural first choice for our U.S. launch,” Casey Kachur, Virtuo’s co-founder and CEO, said in a statement. “From energy roots to entrepreneurial grit, the parallels between Alberta and Texas are striking.
Mortgage defects saw a dramatic decline in 2024

1 day ago | housingwire.com | Jonathan Delozier

Post-closing quality control data is collected through ACES’ quality management and control software and offers a snapshot of mortgage industry underwriting trends. • The Q4 2024 critical defect rate dropped 23.2% from the third quarter to reach 1.16%. • Three of the four major underwriting categories — assets, income/employment, and credit — improved in Q4. But defects in the legal/regulatory/compliance and product eligibility categories increased.
Eight startups selected for NAR's REACH tech program

1 day ago | housingwire.com | Jonathan Delozier

REACH program, launched more than a decade ago, provides select companies with access to education, mentorship, networking opportunities and exposure across the global real estate market. Since its inception, the program has supported more than 300 companies, with expansion into commercial real estate and six global markets since 2019.