Make way for a new cryptocurrency: Property Coin is being touted as the first real estate-backed digital currency.Aperture Real Estate Ventures, a Los Angeles–based real estate technology and investment firm, plans to launch the cryptocurrency at the end of February. Until then, the company is giving investors an “opportunity to own a professionally managed portfolio of real estate assets via the blockchain.”The creators are presenting Prop
RE/MAX co-founder Dave Liniger has stepped down as CEO of the franchise giant. RE/MAX began its leadership succession plan last May, when the company named Adam Contos as co-CEO with Liniger.“The Board of Directors is pleased that Adam will lead RE/MAX Holdings in its next stage of growth,” says Richard Covey, the board’s lead director. “He is a talented and respected RE/MAX Holdings executive who combines in-depth knowledge of the indust
The gap between appraised value and homeowner price expectations widened in January, the first time in eight months. Quicken Loans’ Price Perception Index showed appraisers valued homes an average of 0.6 percent lower than what homeowners estimated. The difference seems slight but, on an average-priced home, it could mean a couple thousand dollars’ difference from sellers.“The appraisal is one of the most important pieces of data in the mor
As property prices rise, more small real estate investors are reportedly are teaming up with others so they can afford their next flip or rental property. They’re pooling funds with friends, relatives, or other investors to pay for their next property, and that means sharing the risks and profit that go along with that plan.The most common partnerships are among those who want to keep and rent out their properties after fixing them up, because
It seems a 1,000-plus point drop in the stock market last week mixed with rising interest rates may have been enough to give homeowners and buyers the jitters. Overall mortgage applications last week dipped 4.1 percent week over week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday.Broken out, mortgage applications for home purchases plunged 6 percent last week. However, that number is still 4 percent higher tha
Could love-themed addresses help you sell a listing faster? A study from Sharestates, a crowdfunding platform for real estate investors, examined sales data on streets with names including words such as Hart, Diamond, and Valentine in New York City, upstate New York, and Long Island. They looked at the return on investment, after-repair value, median sales prices, and increase in demand.Researchers found that homes on Hart Street in Brooklyn had
Homebuilding giant Lennar Corp. announced it has completed a merger with former rival CalAtlantic Group Inc., creating the nation’s largest homebuilder based on revenues. Both companies’ stockholders this week overwhelmingly approved the actions making CalAtlantic a wholly owned subsidiary of Lennar.“This combination brought together two leading homebuilders in familiar markets with compatible product lines,” says Stuart Miller, CEO of
It's easy to tell when your buyer clients have fallen in love with a listing. They clearly have that thrill and excitement coursing through their veins. But just like any relationship, this one takes some work too.Dana Bull, a real estate professional with Harborside Sotheby's International Realty in the Boston area, has three tips this Valentine’s Day that you can use to help guide buyers through the decision-making process when they’ve fal
Your buyer clients may need to brace for longer house hunts. Inventories are at record lows, and that means finding the perfect house match is becoming more difficult.Two-thirds of home buyers said they searched for more than three months before going under contract on a home, according to a new survey by the National Association of Home Builders. Buyers also complain that homes are getting too pricey. Forty-two percent of respondents said that
Millennials are the most powerful generation to ever hit the real estate industry or any profession, asserted Lennox Scott, president of John L. Scott Real Estate in Seattle, during a recent National Association of REALTORS® Power Broker Roundtable on millennials in real estate.“They are technology-infused and connected with community—they’re a reflection of the world we’re in, and I, for one, am happy to tap into the energy and exciteme
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