What’s happening in the real estate industry you ask?
Check out these top headlines!
- BRING IT ON! A GIANT PORTAL is on the rise and they are NOT afraid to show it.
- Rents continue to rise…. How this affect the home purchasing maket.
Co-Star has purchased HomeSnap; birthing the new company CITYSNAP.
While Co-Star has been a difference maker in the commercial real estate sector, it is now positioned for Residential Real Estate greatness.
Late last year, Florence announced his company’s acquisition of Homesnap, promising that he wasn’t afraid to take aim at Zillow. Today, the next shoe drops in that battle — what we call the “portal cold war.’
Pro Agent model:
Unlike other portals such as Zillow, Citysnap is being built around the concept of “‘your listing, your lead,’ meaning all leads will go to the listing broker or agent — with no additional cost or daily listing fee,” according to the company. The portal will launch in the second quarter of next year.
The Real Estate Board of New York is partnering with CitySnap to roll out the beta model, for this portal. I can’t wait to see Zillow and CitySnap take off the gloves! DING, DING!!
Rents Surge Again in September, but Less Than Previous Months
What does this mean for homeownership? In my opinion, rise in rents, make homeownership more desirable and more affordable.
The U.S. apartment market continues to set record growth rates and one panelist at a recent National Multifamily Housing Council (NMHC) event said “In 40 years, I’ve never seen rent increases like we’ve seen these last few months. Never.”
While purchasing and owning a home can be scary; it is also buying security. Security from:
- Annual rise in rent – Oregon is now a rent control state
- Evictions
- Autonomy
- Same monthly rent vs. monthly payment
Home ownership creates value in your resources.
