Have issues with the Zestimate? Zillow is offering $1 million to fix it

Zillow knows its “Zestimate,” the online real estate giant’s property value estimation tool, isn’t perfect. Even after years of consistently working on the algorithm that powers the Zestimate, Zillow still acknowledges that its Zestimate error rate is still 5% nationwide. But Zillow wants to do something about it, and it’s offering up a sizable carrot for anyone who can make the Zestimate better: $1 million.
Source: Housing Wire

Fannie Mae rolls out Healthier Housing Rewards for multifamily properties

Fannie Mae this week rolled out a new program designed to boost the development of healthy living options for residents of multifamily properties. The program, called Healthy Housing Rewards, is an initiative that targets the developers and offers them an incentive to include healthy design features for newly constructed or rehabilitated affordable, multifamily rental properties.
Source: Housing Wire

FHFA: Home prices continuing climbing in first quarter

Home prices rose during each month of the first quarter, continuing a climb that began in the early part of this decade, a new report from the Federal Housing Finance Agency showed. “The steep, multi-year rise in U.S. home prices continued in the first quarter,” FHFA Deputy Chief Economist Andrew Leventis said.
Source: Housing Wire

Trump budget surprise: Gutting the CFPB

The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD’s budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.
Source: Housing Wire