The new rendition of UD Advisor adds upgraded visual presentations, quicker report delivery times, a scalable version of the service for teams or entire brokerages and an appraiser slide.
Tanya Monestier’s appeal to the commission settlement isn’t just a legal challenge, compliance expert Summer Goralik writes. It’s a reality check the industry didn’t see coming.
A lack of affordable housing units in one of Washington state’s largest cities has pushed a community church into action as it seeks to convert some of its property holdings into as many as 60 affordable housing units.
Shiloh Baptist Church in Tacoma’s Hilltop neighborhood is taking steps to convert two of its properties into affordable housing complexes, according to a report from Seattle-based NBC affiliate KING 5.
Tacoma’s fair market value rent for a one-bedroom apartment currently stands at $1,673 per month, according to city data cited in the report. That’s outside the realm of affordability for many low-income residents.
The conversion effort has been years in the making, according to church pastor Chavis Young.
“God has placed us here on the Hilltop, and we just want it to be, as we say, a beacon on the hill, a light on the hill to let everyone know that there is hope,” Young told the outlet. “Despite what you’re going through, there is hope.”
Initial groundbreaking for the complexes took place in mid-2022, with the first of the two projects opening in September 2024. The second complex opened its doors in January 2025.
Both complexes are located near the church, and the properties were formerly used primarily as transitional housing for people who had just been released from prison.
Young told the outlet that all 60 units across both complexes are now occupied, with tenants ranging from individuals to low-income families. But the city — like many localities across the country — has its work cut out for it.
KING 5 reported that the Tacoma Housing Authority currently has a waitlist of more than 9,000 households seeking assistance, nearly twice the number of households it currently serves.
Young said the need for the effort by the church is self-evident when walking down Tacoma’s streets.
“You can just walk down Yakima (Street), and you can see the need for affordable housing,” Young told the outlet. “When we opened just the application process that first week [or] week and a half, we had over 200 applicants.”
The U.S. Department of Housing and Urban Development (HUD) in recent months has trumpeted the involvement of community organizations like churches in the battle against homelessness.
HUD Secretary Scott Turner, who previously served as a pastor, described the impact of faith-based organizations on the homeless population in Dallas when visiting the city in March.
Turner, a native of the Dallas suburb of Richardson, spoke behind closed doors with municipal leaders and local nonprofits in a meeting hosted by faith-based homelessness nonprofit and ministry OurCalling. Turner later discussed the meeting in an interview with local media.
In the interview, Turner said he was pleased with the partnership between city officials and nonprofits.
“I was very encouraged by the collaboration in which they work together,” he said, adding that the approach might be worth applying to other major cities nationwide.
HousingWire reached out to Shiloh Baptist Church but did not receive an immediate reply.
After embarking on an ambitious project designed to ease the technological processes and interfaces of the reverse mortgage industry compared to traditional mortgage workflows, the Mortgage Industry Standards Maintenance Organization (MISMO) announced this week that the latest version of its reference model includes reverse mortgage features.
On Tuesday, MISMO announced that the new version has reached “candidate recommendation status.” The group detailed three of its key features:
- A data file with a “representation of the data and relationships that support industry business processes”
- A new logical data dictionary (LDD) that offers a business-centric view of the model
- MISMO’s newest standards that provide guidance for the electronic formatting of documents.
The release also includes the “addition of greater support for the origination and underwriting of a reverse mortgage.” This is something that the organization has been working on for much of the past year.
Reverse mortgage industry professionals are hopeful that these standards can go a long way toward normalizing reverse mortgage products within the mainstream lending ecosystem, since they seek to address the challenges of more directly interfacing two kinds of workflows.
Late last year at the Mortgage Bankers Association (MBA)’s Annual Convention & Expo in Denver, HousingWire’s Reverse Mortgage Daily (RMD) sat down with Jonathan Kearns, MISMO’s vice president of technology, to discuss the nature of this work.
“Today, the reverse mortgage is a very cocooned, proprietary dataset in how it’s done,” Kearns said in November. “Lenders are very specialized in that space. So, the goal here is to open up and create standardized datasets for reverse mortgages, but also to base it on traditional mortgage data.”
If it’s accomplished sufficiently, it will be easier for a loan officer to directly compare a forward mortgage with a reverse mortgage and determine the best choice for an older customer, Kearns explained.
“Today, that’s not possible unless systems are integrated, but usually, it’s two distinct, separate systems,” he said. “Integrating the data between the two can’t happen today because reverse mortgage data is completely proprietary and non-standardized.”
Moving more directly to a uniform dataset is a chief goal of the dedicated reverse mortgage working group that’s spearheading the effort, according to George Morales, national sales director for Mortgage Cadence.
Last summer, Morales was appointed as chair of MISMO’s reverse mortgage working group. And late last year, Morales told RMD that the effort offered a unifying moment between companies that are traditionally competitors.
“If you just were to look at us on paper, you would see competitors,” Morales said in October. “But what you’re seeing is a common jar, and we’re all pouring into it [with a sense of common purpose].
“And the reason is that most of the conversations that I’m having really have to do with the people who are industry veterans. They’ve been in the space long enough to see that there’s a larger opportunity.”
FOMO can be weaponised against home buyers when it comes to what price a property settles at.
Secret tactics used by unscrupulous agents to drive up home prices have been exposed by Aussie homebuyers who are now warning others how to spot it.
As housing affordability falls to record lows across the country, home buyers and former agents have begun sharing tips for how to tackle agents who resort to deceptive tactics to force more money out of buyers – a major issue given surging prices now have many already bidding at their borrowing peak at auctions.
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A Redditor questioned whether they were “being played” after an agent kept coming back post auction even after contract offers were signed.
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The Australian property community exploded with advice and shared experiences after a Redditor asked “post auction, am I being played” over a real estate agent continually coming back for more, claiming there was a second party gunning for a house.
“Went to an auction, there was just me and a buyers’ agent bidding. Buyers agent’s last bid was $1.4m, mine $1.45m. Property passed in. Went to negotiations, vendor wanted $1.56m. Bid against myself and offered $1.48m. No deal, walked away. Buyers’ agent had left.”
“Phone call 3 hours later, buyers’ agent had offered $1.50m. Asked if we would submit a better offer. Submitted $1.51m. Agent sent through contract for signature. Signed offer. Received a call the next day, buyers’ agent has submitted a higher offer. Said they won’t reveal offer, and want my best and final offer. I think I am being played.”
Many buyers are now finding that they are bidding at their limits, with tactics that drive up prices further now a major concern.
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The feedback was fast and furious, with many urging the buyer to walk away or even drop their offer back to the original auction top market price.
One user said “the seller wanted the highest price the market would pay. That’s why it went to auction and that was demonstrated – market price: $1.45m. After that the b*llshit started because they don’t agree with the market price.”
Several former real estate agents chimed in, one confirming the tactic, saying “when I worked in real estate we would do this quite often and it was all legitimate, reason being to stop the back and forward especially post auction and to get a deal done (mostly at vendors request)”.
Another said “having been on the selling side, this is exactly what a ‘good’ selling agent does to squeeze every dollar out of you.” The ex-agent’s suggestion was “go back with a LOWER offer, as the owner is often desperate to sell. You have power with your offer”.
Auctions are generally considered a true open test of the market price, with visibility for all parties around what others are prepared to pay.
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Among the experiences shared was one saying “house was up for $399k, my offer was in at 375k before the open home, they apparently got another offer and the agent kept giving me the FOMO treatment to get me to offer more, and said they had another offer. I said I will only go up to 380k, that’s it. Still tried pressing me for more and I got annoyed and said ‘if I lose it, I lose it’. Call came in next day and my offer was accepted by the owners”.
Another said “agent called for 2 days straight talking about another buyer and hubby said a number 40k over what we had offered and agent says yep $1000 more than that amount and it’s yours. We said no, house sat for another 6 weeks and ended up going for 25k under our offer”.
“Same thing happened to us,” said another, “property range around 1-1.25 mil, we offered 1.25 because we wanted a quick sale and ready to move in. Agent played around and said owner wanted more than 1.25 mil … We walked away … That property ended up selling for 1.105 mil. Sometimes agent and seller just have to learn to say yes to a good deal and not trying to push for an extra 5k or 10k”.
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Another said “I told the agent that my final bid was x amount (the amount I’d already offered), and they could accept it by the end of the day, or I would pull out. By the end of the day I was signing contracts. So it turns out that there likely was no other party”.
A last minute tactic was also exposed by another Redditor: “we were all good to proceed with signing the contract, confirmed this with the agent … Then 10 minutes later the agent called, sounding all sad, saying that there had been another offer that had come in late that was substantially higher than ours and that he was legally obligated to present that offer to the seller etc etc. Pushed for us to offer more in response.”
“We told him to do what he had to do and left it at that. Another 15 minutes later the agent called again, sounding rather sheepish saying that the other buyer was not serious and that the house was ours … It really soured us on the agent who otherwise had seemed like a genuine (for an agent) straightshooter. He just carried on like that whole event never happened.”
Several people have been sharing their experiences in the tough housing market.
After the flood of advice, the original poster told the community “this morning I sent off an email and have withdrawn our offer. So if they don’t have the other offer, they have nothing. We are happy to walk. It’s not our perfect place and if it does go, we are happy to let it go above our offer”.
This was followed by an update: “Got an email just then. Apparently the other buyer has pulled out. Hahahahahahahaha.”
Among the tips from those suggesting buyers walk away was one Redditor saying “make sure you rescind your offer in writing” while another said “if passes in at an auction, give an offer, but say it is withdrawn in 3-4 hours if I don’t see a signed contract. I have done it and been successful thrice. Agent typically wants to sell and move on”.
Another said “as a rule of thumb, don’t make an offer before an auction, that’s when they play you against an imaginary buyers’ agent”.
“Typically if there are no other real buyers, they will advertise a firm price on the Monday (after the auction). If they put up a range, walk away. Ideally you want to close it before 6pm Sunday or walk away otherwise they Dutch auction your offer”.
The post Secret tactics of dodgy agents exposed appeared first on realestate.com.au.
Rental software company RealPage could soon see a reprieve from state and local efforts to ban its algorithmic pricing system thanks to a new tax bill passed Thursday by the House of Representatives under President Trump’s administration.
The National Association of Hispanic Real Estate Professionals (NAHREP) on Wednesday released its annual Top 250 Latino Mortgage Originators Report, which recognizes the nation’s top-performing Latino mortgage professionals.
NAHREP received nearly 5,000 nominations and is recognizing more than 600 Latino mortgage originators this year across various national and regional rankings.
Even in a high interest rate environment that’s been bogged down with ever-changing economic news, mortgage originators on the national top 250 list closed 10% more transactions and achieved an 18% increase in sales volume in 2024 compared to the previous year. The honorees collectively accounted for more than 61,000 transactions, totaling $22.2 billion in funded volume, in 2024.
“These professionals represent the backbone of Latino homeownership growth in the U.S.,” NAHREP national president Oralia Herrera said in a statement. “They have guided thousands of families through a tough housing market, proving that trust, market expertise, and deep community ties are the true drivers of success in this industry.”
Seven of the top 10 originators by transaction count are based in Texas. The Lone Star State also had the nation’s largest growth in Hispanic residents last year —nearly 129,000 — which reinforced its relevance as a key market for Latino homeownership and lending.
The top mortgage originator by 2024 transactions is Norma Guerrero Cowes of DHI Mortgage in Austin, with 391 transactions. DHI Mortgage led all companies with 54 originators featured in this year’s rankings, including several standouts among the top 10.
Jose Magallanes of Movement Mortgage in Irvine, California, was the top mortgage originator by volume with $217.6 million in loans funded. Christopher Stark of Planet Home Lending in Melville, N.Y,, was the top telesales mortgage consultant with 189 transactions.
The full list of honorees can be found here.
Real estate playboy and reality TV star Mauricio Umansky predicts housing will become affordable again in as little as six months.
Speaking on the sidelines of the Australasian Real Estate Conference (AREC) on the Gold Coast, the founder of US real estate brokerage, The Agency, made the bold prediction about the future of the embattled sector.
“You need to have some pain in the economies for (costs) to go down,” Mr Umansky said. “Interest rates need to drop. We’re in a complicated time because of the infusion of money that was put into the economy during Covid.
Real Housewive of Beverly Hills star and The Agency founder, Mauricio Umansky, speaking live at the Australasian Real Estate Conference. Image supplied.
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“Once we recover from that, we’ll see transactions and affordability start happening. I predict that will start happening as early as six months to as late as 18 months from now.”
The Real Housewives of Beverly Hills and Buying Beverly Hills star was mobbed by fans during his brief visit Downunder, a week after being photographed having a night out with a mystery blonde in Los Angeles.
“It’s been fun,” he said. “I’ve been mobbed a little bit, but I’m okay!”
Mr Umansky’s personal life has become the subject of attention since his split with wife and RHOBT star Kyle Richards.
Real Housewives of Beverly Hills stars Kyle Richards and Mauricio Umansky in 2023. Photo: Phillip Faraone.
Mauricio Umansky was spotted with a mystery blonde during a night out in Los Angeles. Picture: BACKGRID.
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He admitted to having planned to bring a special someone with him during his visit to Queensland, but a last minute invitation to a wedding in Monaco cut his stay short.
While he admits being a Netflix star has helped build his brand and generate more awareness about The Agency, it has come with sacrifices.
“I used reality television to build The Agency,” he said. “The sacrifice of being on reality television is great.
Mauricio Umansky recently visited Australia to speak at a real estate conference. Photo: Jesse Grant.
“If you asked me today, if I would do that again, I dont know. It’s an amazing marketing tool, but the sacrifice is your life becomes so public.
”People think they know you because of an hour on television. They don’t know you, but they think they know you. It’s an invasion of privacy — it’s very difficult.”
But the luxury property mogul, who famously sold the Playboy Mansion, hasn’t written off the possibility of a Buying Beverly Hills spin-off in Australia.
“You never know! I’ve already put myself out there, so I’ll do Buying Sydney, I’ll do buying Australia, I’ll do it all.”
The post Real Housewives star’s shock Aussie bombshell appeared first on realestate.com.au.
Construction works are soon to begin on a new luxury complex in the Gold Coast, which inspired its developers to get their own homes on the $150 million site.
Developer Graya will start demolition work on June 2 for its new Broadbeach development, ‘Enclave’: a 24 storey building and the company’s tallest yet – with a two year construction time-frame.
With at least $80 million in sales so far, around half the project’s 24 luxury residences have already sold.
Demolition work for Graya’s new development ‘Enclave’ will begin on Monday, June 2.
The site is the company’s tallest tower to date, featuring 24 luxury homes.
Graya Associate Director Shaun Mets said they built Enclave with an approach towards wellness in a suburb with easy access to both Brisbane and the Gold Coast.
“That level of accessibility is really valuable to our customer base,” he said. “It’s a suburb on the Gold Coast that is really maturing … [with] those little amenity nuggets that our residents really look for in a place to call home. And there’s just gonna be more of that as Broadbeach comes into its own.”
Graya’s founders, Rob and Andrew Gray, both bought their own full-floor residences at the building.
The project includes offerings such as eight half-floor apartments from 140 – 160 sqm.
Ranging from two to three-bedroom homes, these smaller luxury offerings within the complex sold out shortly after sales began.
The majority of the residences in the building are the 15 full-floor units at 305 sqm. Each of the full-floor units feature a 7 metre-long kitchen island, made from a stone feature marble Mr Mets described as “unique” to the development.
A three-level penthouse is placed at the top of the development, estimated to be worth more than $25 million.
But the best (and priciest) spot in the building is the penthouse: a three-level residence estimated to be worth more than $25m.
“The master suite is basically the same size as our three-bedroom apartments below,” Mr Mets said. “There’s nothing else quite like that, being a three level house in the sky; it really is a sky home.”
Each full-floor apartment features a 7 metre-long kitchen island made from specially crafted stone feature marble.
Everyone within the building will also have access to a private rooftop pool with views across Broadbeach, along with a comprehensive concierge service accessible through residents’ smart phones.
Both of Graya’s founders, Rob and Andrew Gray, have purchased full-floor residences within the tower.
“Our remit for choosing a development site is based around somewhere we would want to live,” Mr Mets said.
“For us, it just made a lot of sense to retain something within the building, and Rob and Andrew wanted to both keep something they could keep with their families.”
Construction is estimated to be completed by the end of 2027.
The post Demolition to begin within days for $150m beach development appeared first on realestate.com.au.
House buyers will need to dig deeper to afford properties at Riverlea after a luxury five-bedroom home sold for a record $1.8m.
Experts say this week’s sale of 2 Allan Place, which smashed Riverlea’s previous property benchmark by a massive $735,000, represents a turning point for the northern suburb, which has typically seen houses sell for less than half the record-breaking sum.
Ray White Gawler East director Ross Whiston, who sold the record-setting home, said prices could soon reach the $2m mark, particularly for properties on allotments of 600sqm or more.
Only one other house in Riverlea Park has sold for more than $1m – property records show that was 10 Bonnin Cres when it sold in 2024 for $1.065m, setting the benchmark.
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The Riverlea Park home at 2 Allan Place has set a new record for the area.
It was recently snapped up for $1.8m.
The sale is tipped to set a precedent for the area.
Mr Whiston said the Allan Place sale would set a precedent.
“More people will be more comfortable to buy in that (price) range because they’ve now seen someone else has done it,” he said.
“If people are looking to move (to Riverlea), I would do it sooner rather than later because … prices will go up and you may miss the opportunity to get yourself a great purchase price for homes in that area.’’
Mr Whiston said there had been up to eight buyers interested in the Allan Place residence, with most willing to spend between $1m and $1.7m.
The home, which is set on a 442sqm block and was finished only this year, features a stunning open-plan kitchen and living area with a fully-equipped bar and wine room.
The master bedroom has a walk-in robe with a glass-topped jewellery display and an ensuite with a freestanding tub – one of six bathrooms throughout the home.
There is also an impressive outdoor area with a spa pool and an outdoor bathroom with a hot rock sauna and ice bath.
Mr Whiston said the buyer was a northern suburbs family that owned businesses in the CBD and the Barossa Valley and sought a Riverlea home for its convenient access to both locations.
The massive purchase price will strike a blow to first home buyers, with Riverlea developer Walker Corporation promising the masterplanned community would help to improve housing affordability when construction work first started in 2021.
Mr Whiston said Riverlea, which will eventually become home to 40,000 people, still represented good value for money.
Several prospective buyers were vying for the keys to the home.
It has five bedrooms and six bathrooms.
It’s the second property in Riverlea Park to sell for more than $1m.
If the Allan Place property was located at popular Henley Beach, it could have fetched almost $4 million, he said.
He expected homes of a similar pedigree, with stone counters, floor-to-ceiling tiled bathrooms and large outdoor entertaining spaces, would now regularly sell for more than $1m.
However, there would still be cheaper offerings, with laminate benchtops and wet area-only tiling, that would be available to those with smaller budgets, Mr Whiston said.
Harcourt Gawler selling agent Simon de Wit said high demand for homes at Riverlea, particularly among those employed on the nuclear submarines project at Osborne, and low supply was contributing to increased house prices.
He said most buyers in the suburb were now owner-occupiers rather than investors, as they had been in the past.
“Prices (in Riverlea) are getting a little too high (for investors),’’ Mr de Wit said.
“It’s a nice estate but for value for money you could probably get better at Miravale at Angle Vale and there’s also a lot happening at Roseworthy.’’
– by Lauren Ahwan
The post Riverlea Park home sets precedent following record-breaking sale appeared first on realestate.com.au.
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