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Thursday, May 28th, 2020

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Posted by: | Posted on: May 28, 2020

Pending Home Sales Saw Biggest Decline on Record in April Because of Coronavirus Pandemic

The numbers: The index of pending home sales dropped 21.8% in April compared to March as the coronavirus pandemic kept prospective home-buyers out of the market, the National Association of Realtors reported Thursday.

Compared with a year ago, pending home sales were down 33.8%. Overall, it was the largest decline since the National Association of Realtors began tracking this data in 2001.

The index measures real-estate transactions where a contract was signed but the sale had not yet closed, benchmarked to contract-signing activity in 2001. It is an indicator of existing-home sales reports in the coming months.

What happened: The Northeast saw the biggest decline in contract signings, with a 48.2% plunge month over month — likely a reflection of the emergence of New York as one of the hot spots for the global coronavirus pandemic. The South saw the next largest decrease, followed by the West and the Midwest.

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Posted by: | Posted on: May 28, 2020

Forget About Recession Real Estate Bargains: Home Prices Are Rising

Those hoping the coronavirus-fueled recession will bring another round of bargain-basement real estate prices are likely out of luck.

Even with the pandemic raging, a battered economy, and the highest unemployment since the Great Depression, median home list prices still jumped up 3.1% year over year last week, according to the most recent realtor.com® data of the seven days ending May 23. That’s about double the 1.5% annual rise from the previous week ending May 16.

Last week, home prices increased in about three-quarters, 77, of the largest U.S. metropolitan areas.

“There are still buyers in the market,” says realtor.com® Senior Economist George Ratiu. “But given the very limited number of properties available, buyers are willing to pay more.”

Just before the pandemic plunged the U.S. into catastrophe mode, home prices were increasing about 4.4% annually in the first two weeks of March.

Prices generally heat up in the

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Posted by: | Posted on: May 28, 2020

This Colorado Shipping Container Home Is Stylish and Ideal for Social Distancing

This shipping container home is set on 35 acres of land in Colorado’s Roaring Fork Valley, and has views of majestic mountains from every room.

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Homes crafted from shipping containers are often found in urban or suburban settings. They’re often designed to fit a small lot and appeal to outside-the-box buyers who desire a short walk to cafés and shops.

That’s what makes this shipping container home in Carbondale, CO, so different. It’s set on 35 acres of land in the Roaring Fork Valley and has postcard-perfect views of majestic mountains from every room.


For a buyer in search of a remote getaway with a creative twist, the home is on the market for $1.65 million.

“The owner’s an inventor,” says listing agent Bryan Cournoyer

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Posted by: | Posted on: May 28, 2020

Philip Miller Joins Greystone in New PropTech Strategy Role

NEW YORKGreystone has tapped Philip Miller to be managing director in a newly-created role that focuses on developing proptech strategies across its lending platforms. Based in New York, Miller reports to Greystone’s CTO, Jonathan Russell.

Miller brings over 25 years of CRE lending and securitization experience to Greystone. Prior to joining the company, he was head of CMBS at MUFG, and previously held a similar role at Macquarie. He also held senior leadership roles in CRE lending at Morgan Stanley and Merrill Lynch, and holds a Ph.D. in computer science from University of Southampton in the UK.

“Phil’s pedigree as someone who has been deeply enmeshed in the lending and securitization business, yet also brings the tech and quant point of view, is a true asset to Greystone, and will help us achieve our goals in streamlining the online borrower experience,” Russell says in prepared remarks.

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