Low commission, tech-focused real estate company Reali closes $5 million funding round

Reali, a real estate company that offers lower commissions and a tech-focused experience for home buyers and sellers, announce that it plans to expand its operations throughout San Francisco after it closed on a $5 million round of funding. In addition to expanding in the San Francisco area, the company said that it will use the money to fund technological advancements, brand marketing, and market expansion.
Source: Housing Wire

Rentalutions, online platform for landlords, raises $2 million to fund expansion

Rentalutions, a Chicago-based online platform for landlords, announced this week that it plans to expand its offerings thanks to a $2 million round of funding. The company said that it plans to use the funding to add new features to “automate common time-consuming and expensive processes, including finding and screening tenants, accepting payments and managing maintenance requests.”
Source: Housing Wire

New York real estate developer admits to interfering with local elections

A New York real estate developer admitted that he meddled in a local election, including using fake voters, all to advance stalled construction projects. According to court documents, when Kenneth Nakdimen ran into local resistance, he and others attempted to influence the local electoral process by falsely registering voters and paying bribes to voters who would help elect public officials who were favorable to their construction project.
Source: Housing Wire

Stearns Lending introduces new loan program with lower payments for first two years

With loan originations on the decline, it seems that lenders are stepping “out of the box,” so to speak, when it comes to targeting prospective borrowers. Some lenders are offering 1% down payment programs, but what about borrowers who are more concerned with their monthly payment as opposed to their upfront costs? Stearns Lending claims to have an answer for that.
Source: Housing Wire

CAR: California pending homes sales drop four months in a row

California pending homes sales continued to trend down in April due to low housing inventory and eroding affordability. The report also came with CAR’s April Market Pulse Survey, which gave a more in-depth explanation from California Realtors on what they are witnessing in the market. Spoiler: Realtors aren’t too optimistic about the rest of the year.
Source: Housing Wire