Offerpad posts net loss of $80M, ending profitability streak

The iBuyer brought in higher-than-expected revenues but racked up a much higher net loss than the previous year, according to a Q3 earnings call on Wednesday.

President of Greenwich Association of Realtors joins BHS

Bryan Tunney will serve as executive vice president and managing director of sales in Greenwich and help support and manage the office's roughly 30 agents.

Originally Built in 1660, a Remodeled Connecticut Home Is the Week’s Oldest Property

MLS via Realtor.com

A recently renovated antique owned by the same family for 11 generations in Farmington, CT, is the oldest property to hit the market this week on Realtor.com®.

Originally built in 1660, the 3,635-square-foot home was remodeled down to the studs. Three original fireplaces remain, but the interior now boasts a new look.

Other historic homes on the market this week include a Colonial-era house in Rhode Island, a Quaker stone home in Virginia, and the former Pennsylvania home of U.S. President James Buchanan.

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











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New York man turns former laundromat into quirky apartment

Twenty-seven-year-old Sampson Dahl has turned a former coin-operated laundromat in Maspeth, Queens, into his residence and a venue/watering hole for his neighborhood.

Zillow sees Q3 revenue dip, but manages to significantly trim losses

The company brought in $483 million in revenue and suffered a loss of $53 million — an improvement over the Q3 2021 losses of $329 million, according to quarterly earnings results Wednesday.

Finance of America refugees land at Hallmark Home Mortgage

Hallmark is positioned to become one of the top 100 mortgage lenders with expansion into Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas.

Rent.com develops program to help clients trend on TikTok

Rent describes the solution as turnkey, fully managed and a way to convert existing marketing content on the Rent network into dynamic, digital branding messages.

‘Good Bones’ Reveals a Terrible Mistake Homebuyers Are Making Like Crazy Right Now

HGTV

On “Good Bones,” Mina Starsiak Hawk flips run-down homes across Indianapolis, usually for big profits. But, as the latest episode illustrates, she still makes mistakes.

In the episode “Soft Stark Southside House,” Starsiak Hawk has paid $30,000 for a house sight unseen. This has become a common practice for many homebuyers, particularly during the COVID-19 pandemic. Yet, when she and her assistant Cory arrive at the property for the first time, she is completely deflated.

“To be honest, I thought it was a different house,” she admits. “I thought it was the one across the street.”

So far, this gamble seems to be a bad bet. Can Starsiak Hawk turn it around? Check out how she attempts to recoup her losses while delivering plenty of smart tips that might apply to any abode, even your own.

First visit to a home bought sight unseen
Versatile main floor bedroom
Figuring out where to place the toilet
Bathroom with frosted glass window
Inviting front porch
Cedar planter box
Front exterior
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LoanDepot launches joint venture with National HomeCorp

NHC Mortgage will offer home loans in Florida, Iowa and North Carolina, with plans to expand to nine other states in 2023.

Homebuyers Are About To Suffer Another Devastating Blow: Interest Rates Climb Again

Getty Images

Rising mortgage interest rates have hit the housing market like a sucker punch—and they’re poised to deliver another bruising blow.

Mortgage rates could climb even higher after the U.S. Federal Reserve announced on Wednesday that it was increasing its short-term interest rates by three-quarters of a percentage point. The Fed has been steadily hiking rates this year in its quest to bring inflation down, even at the risk of plunging the economy into a recession. And while mortgage rates are separate from the Fed’s rates, they generally follow a similar trajectory.

“People want to know when it’s going to end and how high rates are going to be when it does,” says Realtor.com® Chief Economist Danielle Hale. “Housing is an interest rate-sensitive sector. When interest rates are high, it’s much more challenging for buyers. And it looks like interest rates are going to stay high for the foreseeable future.”

Record-low mortgage rates during the COVID-19 pandemic allowed home prices to reach new heights. The lower the rate, the lower the monthly housing payment buyers were making to their lenders. But the reverse is also true. Every time rates rise, even by just a fraction of a percentage point, it becomes more expensive for homebuyers to purchase the same property.

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Airbnb pledges to make prices more transparent following strong Q3

High average daily rates helped spike Airbnb profits during the third quarter. But the company is preparing to roll out changes to make its prices clear, add competition among hosts.

What on Earth? Live Among the Stalagmites and Stalactites in a Colorado Cave

MLS via Realtor.com

A 3,000-square-foot dwelling built into the caves near Glenwood Springs, CO, is a rocky sight to behold.

Cave of Chimes is a one-of-a-kind home nestled in the walls of the Glenwood Springs Canyon. It could be yours for the steep price of $2,450,000.

The cave home is only a small portion of the property. (There’s also space above ground to build another home.) Getting to the underground dwelling is an adventure in itself.

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Compass agrees to waive broker fees for NYC Section 8 renters

Compass must waive broker fees for the first 25 Section 8 renters who lease a property through the brokerage, said New York's Attorney General, as part of the new terms to an April housing discrimination settlement.

Opendoor lays off 18% of workforce ahead of Q3 earnings call this week

The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry.

Is ‘The Watcher’ back? Police have visited NJ home 58 times since 2019

Police have been called to the notorious Westfield home nearly 60 times since July 2019, a new report claims. But call logs suggest the supposed stalker hasn't been at the center of the complaints.

Deal falling apart? 10 solutions to keep things moving forward

In today's complex market, it takes give-and-take on both sides of the transaction to make sure you get to the closing table. Broker Cara Ameer offers 10 solutions to keep a deal moving forward, no matter what the market throws at you.

Rocket’s new loyalty program furthers lender’s fintech strategy

After initial focus on mortgages, Rocket Rewards will be expanded to provide discounts on other "ecosystem" offerings including personal loans and solar panels.

Living In ... Accord, N.Y.

With its central location, stunning scenery and culturally diverse community, the Ulster County hamlet has seen an influx of residents recently.

Accord, NY: A ‘Laid-Back Agricultural Hub’ With a ‘Chill Vibe’

With its central location, stunning scenery and culturally diverse community, the Ulster County hamlet has seen an influx of residents in recent years.

It’s ‘Special’: Lizzo Reportedly Buys Harry Styles’ Former Beverly Hills Mansion for $15M

Getty Images / MLS via Realtor.com

Sizzling hot hip-hop artist Lizzo will have plenty of room to throw her hair back and check her nails now that she’s purchased a $15 million Beverly Hills, CA, mansion once owned by fellow chart-topper Harry Styles, according to Dirt.

It seems great musical minds and close friends think alike.

But then again, who wouldn’t appreciate this modernist treehouse-inspired residence designed by Sam Gnatovich and Alexi Rennalls, the husband-and-wife team behind L.A.’s design-build studio Simo Design.

In fact, actor Jon Hamm and socialite Nicole Richie are among the celebrities who own homes done by Simo Design, Dirt notes.








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