DJ Khaled to fork over $25.9 million for Miami Beach mansion

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Famed rapper, producer and social media influencer DJ Khaled just signed a contract to buy a sleek and stylish home in Miami Beach for $25.9 million.
Source: HousingWire Magazine

Compass raises another $400 million, now valued at $4.4 billion

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Is Compass the one real estate tech startup to rule them all? The company certainly has enough money to do so. Compass announced this week that it just raised another $400 million in its Series F funding round, which reportedly values the company at $4.4 billion.
Source: HousingWire Magazine

Redfin: Number of homes selling above list price drops

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In the four weeks ending on September 23, homes that sold above asking price dipped below 2016 levels, according to the latest data from Redfin. Redfin Senior Economist Taylor Marr the fact that fewer homes are selling above their asking price is another indication that competition is getting less intense than it has been in recent years.
Source: HousingWire Magazine

New American Funding appoints new regional leader

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New American Funding recently announced it appointed Justin Brown as the new leader of its L.A. West Region. Brown said he looks forward to better serving his customers in his new position at New American Funding.
Source: HousingWire Magazine

Better Homes and Gardens Real Estate Paracle expands into Raleigh with acquisition

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Better Homes and Gardens Real Estate Paracle acquired three Raleigh, North Carolina, offices from fellow Better Homes and Gardens Real Estate Franchise network member Better Homes and Gardens Real Estate Go Realty. In its statement Paracle says it acquired the offices break into the market it calls the “Silicon Valley of the East,” because of its appeal to major tech corporations like Apple and Amazon.
Source: HousingWire Magazine

Here's the skinny on Opportunity Zones

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Opportunity zones are probably the buzziest potential solution for the affordability crisis and local economic stimulus out there at the moment. So, here’s the skinny on how they would work, some of the risks they present and what they are meant to accomplish.
Source: HousingWire Magazine

FHA to require second appraisal on select reverse mortgages

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The Federal Housing Administration announced Friday that it will require reverse mortgage lenders to provide a second property appraisal on loans flagged by FHA as potentially having an inflated property valuation. The agency said the move is intended to reduce risk to the Mutual Mortgage Insurance Fund, which will ultimately ensure the long-term sustainability of the program.
Source: HousingWire Magazine

WSJ: Millennials are opting for all-in-one co-living situations

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Co-living properties are growing in popularity and scope. According to a feature by Christopher Mims in The Wall Street Journal, communities that plan out residents’ social lives and take care of all the little time-wasting adult annoyances that pull at their attention after they punch out are fast carving out a niche for themselves in the multifamily market.
Source: HousingWire Magazine

RentCafé: 87% of units delivered in 2018 are luxury

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According to an analysis from RentCafé, luxury rentals, those that are Class B+ and above, dominate the multifamily market’s deliveries and they have been since 2015. As recent as 2015, three quarters of new apartment construction fell into the luxury category. By 2017 that number crept up to 79%, and so far, this year, it is looking like that number soar even higher.
Source: HousingWire Magazine

Facebook reveals 50 million accounts breached in cyberattack

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Facebook just announced that 50 million accounts were affected in a cyberattack that comprised users’ login information. According to a statement from the social media giant, which is a popular marketing tool among real estate agents and loan officers, hackers exploited a vulnerability in Facebook’s code that allowed them to steal access tokens.
Source: HousingWire Magazine