Rental Prices Continue To Tick Up, but the Wild Increases Appear To Be Over

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As the new year kicked off, the wild run-ups in rental prices that terrorized tenants last year appear to have leveled off.

January was the 12th month in row where rent growth slowed, according to the Realtor.com® monthly rental report. Monthly rents were down $80 from the peak in August, but they were still up 2.9% year over year, to hit a median $1,726 a month in the nation’s 50 largest metropolitan areas.

(Realtor.com looked at rents for studios, one-bedroom and two-bedroom apartments, condos, townhomes, and single-family homes in the 50 largest metros. Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)

“The biggest takeaway is while the rental growth is slowing, the affordability concerns continue,” says Realtor.com Senior Economist Jiayi Xu.

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Chime: Chatbot AI Assistant at 93% conversational accuracy

The company attributes the success to "consistent coaching and humanizing of the chatbot," which in the past year increased daily messages by 322 percent and daily lead responses by over 108 percent.

Built in 1706, a Former Whaler’s House in New Jersey Is the Week’s Oldest Property

Realtor.com

A former whaler’s house in Swainton, NJ, is the oldest property to hit the market this week on Realtor.com®.

The waterfront property boasts more than 15 acres of wooded privacy. Inside, the home has lots of charm and character with many period details still remaining.

Other vintage homes to hit the market this week include an updated Colonial in Massachusetts, a waterfront stone home in Pennsylvania, and a farmhouse on 60 acres in Vermont.

Scroll down for a full look at this week’s 10 oldest homes.











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RE/MAX Alliance Group and Capital Realty join forces in merger

The deal brings RE/MAX Capital Realty under the operations of the RE/MAX Alliance Group, growing the combined companies' forces into a total of about 400 agents and staff.

Mortgage Rates Rise for Third Week in a Row, Returning to Highs Seen in November

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The numbers: Mortgage rates are up sharply, putting pressure on the housing market once again.

The 30-year fixed-rate mortgage averaged 6.5% as of February 23, according to data released by Freddie Mac on Thursday.

That’s up 18 basis points from the previous week. One basis point is equal to one one-hundredth of a percentage point.

The 30-year rate was last at this level in November 2022.

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Former Atlanta Braves Legend Ryan Klesko Selling Bungalows on a Private Florida Island

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Former big leaguer Ryan Klesko is selling four bungalows on his private island in Florida’s panhandle region. The former slugger owns the island with an anonymous business partner.

Black’s Island, as it’s known, is on the Gulf Coast and was discovered by Captain James Black nearly 200 years ago. The island is said to have a storied pirate history.

Today, the seven-acre island near Port St. Joe, FL, is accessible only by a short boat or helicopter ride. It features 26 cozy bungalows along the waters of Saint Joseph Bay.

Amenities for island residents include a clubhouse, cabana, and spa-style pool. There will soon be on-island dining and access to the Mainland Black’s Hotel, which will be completed in late 2023.





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Anywhere profitability dips in Q4 as executives brace for disruptive 2023

Revenue declined 33 percent in the fourth quarter of 2022 — and 13 percent year over year — as the franchisor dealt with double-digit declines in transaction and unit volume across every business segment.

Homes for Sale in Brooklyn and Manhattan

This week’s properties are in Prospect-Lefferts Gardens, Midtown East and on Riverside Drive.

Homes for Sale in New York and

This week’s properties are a five-bedroom homes in Armonk, N.Y., and Upper Saddle River, N.J.

Ohio 4th state to sue MV Realty over allegedly ‘shameful business model’

Ohio is the latest state to file suit against MV Realty for deceptive practices following probes by regulators over its "homeowner benefit agreements" in Florida, Pennsylvania and Massachusetts.

Which Cities Have the Best Deals for Single Renters?

Where single renters paid the greatest and smallest portion of income for rent on studio apartments.

Lawsuit accuses eXp agents of sexual assault, drugging women

According to the suit filed Wednesday, Michael Bjorkman and David Golden took advantage of women while attending real estate industry events.

Seeking a Studio in Downtown Brooklyn for Less Than $400,000: She Was Surprised by the Options

A schoolteacher left her six roommates behind for some privacy and a decent kitchen. But would her budget be enough?

Can’t Get an Apartment Because of a Credit Report Error? Here’s How To Fix It

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By now you know that your credit score can have a big impact on your life—like when you want to finance a big purchase such as a house, or when you’re looking for a new rental. You can expect your potential landlord to run a credit check and, as a general rule, you will need a score of 620 or higher to rent an apartment.

But credit reports can, on occasion, contain errors—and those errors can derail your apartment search when a landlord gives you a hard pass as a tenant.

“Credit report errors are actually common,” says David Bitton, co-founder of and chief marketing officer of DoorLoop, a property management software. “In fact, at least 1 in 5 people can encounter an error in any of their credit reports.”

Apartment hunting is hard enough, especially if you live in an area where desirable properties get snatched up at a moment’s notice. The last thing you need is to lose out on a rental because of errors on your credit report. But knowing what to look out for can get you back on level playing field. Read on for more information about credit score errors.

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Homebuyers Are Finding Tons of Bargains in This One State—but How Long Will It Last?

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While winter is generally a slow time for real estate as homebuyers hunker down and wait for spring, certain cities—and in fact, one entire state—are defying those odds.

The Realtor.com® Hottest Markets List for January has ranked Manchester, NH (a more affordable alternative to Boston, about an hour away), No. 1 for the 18th time in the past two years. Coming in second was Rochester, NY, on the shores of Lake Ontario. Neither of these metros is much of a surprise, given they’ve lingered near the top of this list many times in the past.

But the No. 3 hottest market—Columbus, OH—is where things get interesting. Why? Because it’s just one of five cities in Ohio that made January’s top 20. That’s a whole lot of Buckeye State property people are snapping up!

(The rankings factor in a combination of demand—measured by the number of unique views per home listing—and how quickly homes are selling in that market.)


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Broker Spotlight: Boris Fabrikant and Collin Bond, The Fabrikant Bond Team at Compass

Find out how these attorneys, brokers and friends put their legal and financial expertise to work to create exceptional outcomes.

The hottest tools to add to your AI toolbox in 2023

ChatGPT is only a sliver of what’s already available in the AI space. Bernice Ross talks to team leader Kendall Bonner and offers a roundup of some of the hottest applications you’ll want to add to your AI toolbox. 

Seeking a Studio in Downtown Brooklyn for Less Than $400,000: She Was Surprised by the Options

A schoolteacher left her six roommates behind for some privacy and a decent kitchen. But would her budget be enough?

Growing your business with tech, teams and new development

Watch this week's three new expert-led classes featuring top tips for agents, and what you should know about the latest tech trends

Sotheby’s brings on LAH Real Estate for newest Alabama affiliate

LAH Real Estate Inc. was originally founded in 1992. The new affiliate brings its four offices to Sotheby's, ticking the brand's total office count in Alabama up to seven.

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