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A new source of affordable housing inventory: Private seller auctions

Housing Wire

He bought it from an outside landlord who didnt have the local market knowledge or presence needed for property management. New marketplace for motivated sellers That is good news for sellers like Ricardo Sims, the out-of-state landlord who sold the Montgomery properties to Richards via SmartSale. million registered users.

Sellers 330
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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. In other markets, including the Cleveland district, low inventory levels hindered home prices from dropping further. Landlord concessions have also somewhat increased.

Inventory 448
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Zillow plays renter matchmaker in Austin

Housing Wire

By bridging the gap between property owners and service providers, they bring a solution-oriented approach that benefits both landlords and residents in need. Property partners can upload available units there, and local nonprofit service providers and clients can find vacant inventory in real time.

Tenants 255
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California attorney general cracks down on rental price gouging

Housing Wire

The attorney generals office said that the California DOJ has sent over 650 price gouging warning letters to hotels and landlords. But inventory is rising and conditions favor sellers in many areas. The price gouging restrictions remain in effect until March 8.

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Real estate investors have a ‘cautiously optimistic’ outlook: survey

Housing Wire

That’s the conclusion from a survey of 235 single-family landlords in late June and early July. Still, renters should expect housing costs to rise as three in four landlords plan to raise rents in the next year, including one-third who plan to increase them by more than 4%.

Investors 459
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California AG charges first real estate agent with price gouging after LA fires

Housing Wire

It has sent out 500 warning letters to date, with more to come, to hotels and landlords who have been accused of price gouging. But inventory is rising and conditions favor sellers in many areas. DOJ is aggressively and relentlessly pursuing those who are trying to make a quick buck off of someone elses pain.

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Santa Monica: An unexpected haven for first-time buyers

Housing Wire

In addition to making buyers more prudent in their purchases, local real estate professionals also say interest rates are to blame for the area’s lack of inventory. Cilic added that some would-be sellers are choosing to become landlords instead, renting out their properties with 3% interest rates.

Buyers 448