Second Century Ventures Opens Applications for 2024 REACH U.S. Program
CHICAGO (December 6, 2023) – Second Century Ventures, the strategic investment arm of the National Association of Realtors®, opened applications today for the 2024 U.S. REACH technology growth program. SCV, the most active global venture fund in real estate technology, operates the award-winning REACH program across North and South America, Europe, Australia and Asia-Pacific. The U.S. REACH program focuses on solutions supporting the residential real estate sector, including innovations from adjacent industries such as banking, finance, home services, title, mortgage and insurance. Applications for the U.S. REACH Commercial program will open in March 2024. "The support and developmental opportunities that REACH provides to the proptech sector are unmatched," said Ashley Stinton, managing partner, REACH. "Our goal is to turn the industry's significant challenges into opportunities for creative solutions and advanced development, offering substantial advantages for the participating companies in terms of innovation, market positioning and economic impact." NAR's REACH program selects and helps scale the most promising technology companies across the real estate ecosystem. Participants in the program receive premier access to the following: Mentorship from real estate, venture capital and technology sector leaders; Education on how to navigate the trillion-dollar global property industry from top experts; Exclusive opportunities at the most impactful conferences, trade shows and networking events; Unique access to top media and academic organizations; and A global network of highly talented, like-minded entrepreneurs including 250 REACH portfolio companies, venture advisors and curated program sponsors. "As real estate technology continues its rapid evolution, the startups we welcome into the REACH program this year will play a key, central role in our industry's future," said Dave Garland, managing partner, Second Century Ventures. "Participation in REACH offers these companies a unique platform and access to a variety of diverse resources and professional expertise, providing these entrepreneurs support as they work to expand their networks and grow their enterprises." Applications for the 2024 U.S. REACH program will be accepted through January 31, 2024. For more information about REACH, or to apply, visit nar-reach.com. About NAR The National Association of Realtors® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics. About REACH REACH is a unique technology scale-up program created by Second Century Ventures, the most active global fund in real estate technology. Backed by the National Association of Realtors®, Second Century Ventures leverages the association's more than 1.5 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies scale across the real estate vertical and its adjacent markets through education, mentorship and market exposure. For more on REACH, visit www.nar-reach.com.

Courtside Moms and Revive Partner to Provide Pro Basketball Rookies with Real Estate Investment Insight
IRVINE, Calif. — July 31, 2023 — In a world where professional athletes are often propelled into financial decisions far beyond their years, guidance from trusted family members and experienced professionals can be a game-changer. Recognizing this need, Courtside Moms, an organization dedicated to equipping the mothers of NBA and WNBA players with vital resources, teamed up with Revive for "A Moment for Moms" – an event aimed at fostering financial knowledge and empowering these families to make savvy financial, tax and investment choices. Courtside Moms recognizes that when athletes begin their professional careers, they and their families often find themselves navigating an intricate landscape of investments and asset management. Revive's participation, along with other tax and investment experts, was designed to ensure these families are prepared to handle these complexities. Michael Alladawi, founder and CEO of Revive Real Estate and a highly recognized presale renovation specialist, served as a lead panelist at this July event in Las Vegas. By sharing his knowledge and real estate investment expertise, he put a spotlight on how presale home renovations help maximize profits. Alladawi notes that people often undervalue their homes, typically leaving between 15 and 20 percent of potential profits untapped when selling them. Alladawi notes Revive is changing this narrative. "Becoming a professional athlete in the NBA or WNBA is a life-changing event, not only for the player but their entire family," said Alladawi. "To have the opportunity to inform and educate these players at the beginning of their careers – and their moms – about real estate and ways to maximize their property investments is truly a groundbreaking approach, and we hope other professional sports follow the path that Courtside Moms has pioneered." Revive research show that its sellers earn, on average, $186,000 in additional profits, with the ROI from Revive averaging 2.5x the original cost of the upgrades. Revive has assisted over 2,000 home sellers to date, creating over $70 million in additional wealth. Daynia La-Force, a leader of Courtside Moms, expressed gratitude for the support from Revive. "This event came to fruition thanks to Revive Real Estate's generous support. Working with Michael Alladawi and his team was an incredible experience. We believe their shared vision and outstanding community work made this partnership a perfect match." Wendy Sparks, creator of the Court-Side Moms Podcast, lauded Revive's efforts, saying, "Collaborating with Revive Real Estate instilled a strong sense of unity. Their commitment enabled us to seize a teaching moment and impart crucial information on initiatives vital to the success of our event." Rod Watson, Founder of Distinct Concierge and cohost of the event, echoed Sparks' sentiments, "Their unwavering commitment and involvement helped us seize a teaching moment and impart crucial information." Revive's participation in the Courtside Moms event underlies the company's steadfast commitment to one of its core values: to help homeowners create more wealth. "By contributing to successful events like 'A Moment for Moms,' Revive strives to guide homeowners and their agents to greater profits and success, one presale renovation at a time," said Alladawi. Pictured above (L to R): Janice Wofford, mother of Lou Williams, recently retired, and Michael Alladawi, Revive CEO and co-founder. Photos and video of the Courtside Moms event can be found here. About Revive Revive Real Estate's mission is to guide home sellers through presale renovations without upfront costs. By providing access to Revive's network of top contractors, home sellers gain an average of $186,000 in additional profit when selling their homes. Revive homes sell for more and help sellers move ahead by maximizing their sales value. Revive is last year's iOi Summit Pitch Battle winner. Learn more at www.revive.realestate.

Adwerx Secures $3 Million in Funding to Fuel Platform Expansion and Accelerate Growth
Adwerx, the leading provider of digital advertising solutions for real estate and mortgage companies and their top producers, announces the successful completion of its latest funding round, raising $3 million. The round was led by Savano Capital Partners and Observatory Capital, with participation from existing investors Grotech Ventures, Bull City Venture Partners, and Alerion Ventures. Notably, Second Century Ventures, the National Association of REALTORS®' strategic venture arm, also participated. The newly secured funds will support Adwerx's strategic initiatives, including the expansion of its automated advertising platform and the fortification of its balance sheet to prepare for accelerated growth in the coming months. "We're thrilled to have the support of the investors who know the company and the industry best," said CEO Michael Collins. "Their backing reaffirms our position as an innovator in the digital advertising space and reflects their confidence in our path forward." The involvement of Second Century Ventures, the National Association of REALTORS®' strategic venture arm, adds significant credibility to Adwerx's vision and strategic direction. Adwerx's previous participation in the REACH technology growth program and continued support from SCV will enable Adwerx to leverage the association's industry expertise and vast network of professionals to further amplify its impact in the real estate sector. "Adwerx has built significant momentum in recent months despite the softness in the real estate and mortgage industries," said Jonathan Perl, General Partner at Observatory Capital. "With the additional capital, new management team and plans for product innovation, we are optimistic about the company's potential." About Adwerx Adwerx is an industry-leading digital advertising automation platform that provides personalized, hyper-targeted, and fully-automated digital advertising solutions for real estate and mortgage companies. Scalable for businesses of any size, Adwerx executes advertising with the power needed for large enterprises and the simplicity expected for an individual agent. As a trusted partner to thousands of real estate and mortgage firms and their top producers, Adwerx enables its customers to stay ahead of the competition by reaching new audiences and nurturing existing relationships. For more information about Adwerx and its suite of digital advertising solutions, visit www.adwerx.com.

Own Up and Realtor.com Join Forces to Streamline the Home Buying Process
Relationship designed to increase consumer confidence throughout the homebuying journey BOSTON, Aug. 31, 2022 -- Own Up, a digital mortgage shopping service, today announced a commercial relationship with Realtor.com, a real estate marketplace operated by News Corp's subsidiary, Move, Inc. Own Up and Realtor.com are mission-aligned companies, both aiming to improve the home buying process for Americans looking to close on their dream homes. Alongside this new collaboration, Own Up closed a $25M round of funding, led by Brand Foundry Ventures. Realtor.com is among the investors participating in the funding round, which also saw return participation from past investors, Link Ventures and Listen Ventures. The injection of capital will allow Own Up to continue to build out its innovative technology platform, expand its novel shopping experience and product offerings, and invest in the Company's people and culture. Own Up and Realtor.com's relationship will give users direct access to Own Up's mortgage shopping service, including personalized loan offers from its exclusive lender marketplace and real-time advice from the industry's only mortgage shopping concierge. The integration with Realtor.com will allow homebuyers to gather detailed information about their home financing options as they search listings and find real estate agents. The housing market has been increasingly challenging for buyers over the past 12 months, with low inventory, rising prices, higher mortgage interest rates, and high-stakes bidding wars. That has caused heightened stress and anxiety for hopeful buyers, an issue Own Up and Realtor.com hope to work together to address. "From day one, our singular goal was to be a champion for the consumer and bring greater transparency to the home buying process. As the mortgage industry continues to see changes at a rapid clip, it's crucial that consumers are armed with the right information to make the best financial decisions," said Patrick Boyaggi, CEO and co-founder of Own Up. "Realtor.com plays an essential role in the home search process for so many Americans and now we'll be able to provide mortgage education and tools to comparison shop, boosting buyer confidence as they move through the process." "Own Up's team brings deep mortgage expertise to the Realtor.com online experience," said Realtor.com CFO Bryan Charap. "This relationship is a natural fit; together we're able to expand upon our shared goal of helping Americans find and close on their dream homes." "The housing market is at an inflection point, marked by a lack of inventory and a historic rise in interest rates, and Own Up is uniquely positioned to help consumers navigate one of the most tumultuous components," said Brian Spaly, General Partner at Brand Foundry Ventures. "This next phase of growth will further cement Own Up's position as the mortgage shopping experts, ensuring no borrower overpays on their mortgage. At this time of inflation and a pending recession, cost-savings has never been more important." For more information on Own Up's mortgage marketplace, visit www.ownup.com. About Own Up Founded in 2016, Own Up is changing the way Americans shop for and secure mortgages, injecting transparency into an opaque process and empowering consumers to make smart financial decisions with the help of intelligent technology and real human advisors. NMLS #: 1450805. About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp subsidiary Move, Inc. For more information, visit Realtor.com. About Brand Foundry Ventures Brand Foundry Ventures (BFV) is an early-stage venture capital firm investing in the next generation of companies that are essential to today's consumer.

CoreLogic Investor Homebuying Report Shows Slowing Purchase Activity Amid Shifting Market Dynamics: A Decade in Review
Report shows small investors make up a more significant share of real estate purchases Significant migration out of California pushes investor activity to more affordable areas IRVINE, Calif., August 30, 2021 -- CoreLogic, a leading global property information, analytics and data-enabled solutions provider, shared its Investor Homebuying report highlighting home U.S. purchase trends between 2011 and 2020. In the report, CoreLogic investigates activity nationally by both price tier and investor size and looks at which regions have had the most and least activity. A decade ago, there was a flurry of home purchase activity following the 2006 housing market crash as investors began capitalizing on low-cost, high-growth properties. However, this purchase activity peaked in 2018 and since then, the pace of investment has slowed. In 2019, the investment rate (the share of home purchases made by investors) in the U.S. housing market was 16.3%, and by 2020, it had slowed to 15.5%. Despite the decreasing rates, overall, investors have maintained a strong presence in the market during the last 10 years. Smaller investors are making up a more significant share of investors than at any point in the past and continue to gain their market share at the expense of their larger counterparts. This is likely due to large out-migration from expensive areas to more affordable ones, allowing smaller investors to snap up properties at lower rates. "At this critical juncture — the first year into the new decade and continually moving farther away from the pandemic — when the hot housing market cools down, we may see investor activity increase as they try to buy more properties at lower prices," said Molly Boesel, principal economist at CoreLogic. "Although investors seem to have given some of their coveted market share to buyers, it's hard to say how long this trend will last — or what the long-term implications will be on a larger scale." State and Metro Takeaways California dominated investor activity in 2011, with Los Angeles, San Jose, San Diego, San Francisco, Sacramento, Stockton and Riverside all in the top 10 areas with the highest investor activity. Despite this, no California metro areas made the top 10* in 2020. Cities in the Mountain West, the western Midwest and the South led investment activity by 2020, and investment has grown in metro areas like Boise, Idaho; Phoenix and Salt Lake City, as they tend to have lower prices and growing populations fueled by out-migration in California. Download the report here. Methodology: This report uses the industry-leading CoreLogic public record database. An investor is defined as an entity (individual or corporate) who retained three or more single-family properties simultaneously within the past 10 years. This report enhances the definition of an investor purchase that was introduced in a 2019 CoreLogic report. The previous report identified an investor purchase by looking for a corporate or non-individual identifier on the deed. Examples include LLCs, CORPs, and INCs, to name a few. This report includes those purchases but in addition, uses probabilistic record linkage methods to identify more investor purchases by seeing how many properties a person with the same name and address retains at any one time. About CoreLogic CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

Annual Foreign Investment in U.S. Existing-Home Sales Falls 27% to $54.4 Billion, Lowest Level in a Decade
International buyers purchased 107,000 U.S. residential properties totaling $54.4 billion from April 2020–March 2021, down 31% and 27%, respectively, from the previous year and the lowest volumes since 2011. WASHINGTON (July 26, 2021) -- Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period and the fourth consecutive annual decline in foreign investment in U.S. residential real estate, according to a new report from the National Association of Realtors®. Foreign buyers purchased 107,000 properties, down 31% from the prior year, as the COVID-19 pandemic led to a strong global economic contraction and a decline in international tourist and business arrivals. The dollar and sales volumes are the lowest since 2011, when those figures were $66.4 billion and 210,800 properties, respectively. NAR's 2021 Profile of International Transactions in U.S. Residential Real Estate surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2020 through March 2021. Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased $32.4 billion worth of U.S. existing homes, a 21% decrease from the prior year and representing 60% of the dollar volume of purchases. Foreign buyers who lived abroad purchased $22 billion worth of existing homes, down 33% from the 12 months prior and accounting for 40% of the dollar volume. International buyers accounted for 2.8% of the $5.8 trillion in existing-home sales during that time period. "The big decline in foreign purchases of homes in the U.S. in the past year is no surprise, given the pandemic-induced lockdowns and international travel restrictions," said NAR Chief Economist Lawrence Yun. "Yet, even with the absence of foreign buyers, the U.S. housing market strengthened solidly." Total U.S. existing-home sales plunged to a seasonally adjusted annual rate of 4.01 million in May 2020. Sales fully recovered by July, eventually reaching a peak of 6.73 million in October. China and Canada remained first and second in U.S. residential sales dollar volume at $4.5 billion and $4.2 billion, respectively, continuing a trend going back to 2013. India ($3.1 billion), Mexico ($2.9 billion), and the United Kingdom ($2.7 billion) rounded out the top five. The United Kingdom was the only country among the top five to see an increase in dollar volume from the previous year ($1.4 billion to $2.7 billion) and it replaced Colombia as the fifth largest country of origin by dollar volume of foreign buyers. The annual dollar volume dropped by at least 50% for foreign buyers from China ($4.5 billion from $11.5 billion), Canada ($4.2 billion from $9.5 billion) and Mexico ($2.9 billion from $5.8 billion). "As travel restrictions loosen and foreign students return to U.S. colleges in the upcoming year, there is likely to be some growth in foreign buying of U.S. real estate," Yun added. "High home prices and the ongoing lack of inventory could, however, pose a challenge for buyers." The median existing-home sales price among international buyers was $351,800, 15% more than the $305,500 median price for all existing homes sold in the U.S. The price difference primarily reflects the locations and type of properties desired by foreign buyers. At $476,500, Chinese buyers had the highest median purchase price, and more than a third – 34% – purchased property in California. For the 13th straight year, Florida remained the top destination for foreign buyers, accounting for 21% of all international purchases. California ranked second (16%), followed by Texas (9%) and Arizona (5%), with New Jersey and New York tied at 4%. All-cash sales accounted for almost two out of five – 39% – international buyer transactions, with a higher percentage among non-resident compared to resident foreign buyers at 61% and 24%, respectively. More than four out of five buyers from the United Kingdom – 82% – made all-cash purchases, the highest share among foreign buyers. Asian Indian buyers were the least likely to pay all-cash at just 8%. Two-thirds of Canadian buyers (66%), two out of five of Chinese buyers (40%), and a third of Mexican buyers (33%) made an all-cash purchase. Forty-three percent of foreign buyers purchased the property for primary residence use and 65% purchased detached single-family homes and townhouses. Nearly half of international buyers – 49% – purchased a home in the suburbs and 28% bought a home in an urban area, a figure that's held steady over the last six years. Seven percent of foreign buyers bought property in a resort area, down from 17% in 2012. "Driving economic development through our work to foster diverse and inclusive communities remains a top priority for NAR," said Katie Johnson, NAR's general counsel and chief member experience officer. "Our association collaborates with groups across the country to educate foreign buyers on the opportunities in U.S. real estate and to maximize the global business potential in our local markets. NAR and the Realtor® brand has grown to a network of more than 100 real estate associations across 85 countries, ensuring stable, accessible markets that allow our members to make direct connections with global real estate professionals and sources of foreign investment." View the full 2021 Profile of International Transactions in U.S. Residential Real Estate here. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

SCV Announces 2021 REACH Commercial Cohort
This year's corresponding REACH residential real estate technology cohort to be unveiled in the coming weeks CHICAGO (April 19, 2021) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced today the selection of nine technology companies for the 2021 REACH Commercial scale-up program. SCV, which is the most active global venture fund in real estate technology with more than 130 portfolio companies worldwide, operates the award-winning REACH growth program in five major, international markets. The REACH Commercial program helps high-growth potential technology companies scale in and beyond the commercial real estate sector. "This pandemic has underscored the foundational role commercial properties play in the sustainability of vibrant communities," said SCV President and NAR CEO Bob Goldberg. "NAR has been on the frontlines on Capitol Hill and in every state capital this past year fighting to support our commercial practitioners as they work to attract investment, create jobs and revitalize communities. The unveiling of the 2021 REACH Commercial group is another critical step in our work to ensure commercial real estate can adapt to and flourish in the markets of the future." Companies selected for the 2021 REACH Commercial program offer innovative tools and solutions for multiple aspects of the CRE market. Collectively, these companies have raised over $34 million in capital, employ more than 400 people worldwide and represent a valuation of $200 million. "We have selected nine companies for our 2021 REACH Commercial program that are already well on their way to being market leaders in their spaces," said Bob Gillespie, executive director of REACH Commercial. "They bring solutions that fundamentally change commercial real estate design, investment and transaction management, as well as how we manage, experience and understand the properties in which we live and work. We have an outstanding 2021 cohort and look forward to helping them achieve exponential growth." The nine companies selected for the 2021 REACH Commercial program are: Valcre: premier end-to-end appraisal software solution for CRE Remarkably: marketing business intelligence platform for multifamily housing owners and operators Lex Markets: a first-of-its-kind securities market for commercial real estate Parafin: on-demand generative design for optimized designs, budgets and investment models ProDeal: award-winning CRE closing software platform Land Intelligence: actionable intelligence for new land development deals Otso: innovative commercial lease securitization for tenants, landlords and brokers Groundbreaker: all-in-one investment management software for small to medium commercial real estate investment firms Cove: modernized technology service platform to transform the way people engage with their physical environments "These nine companies have been selected from an impressive list of highly qualified candidates," said Tyler Thompson, managing partner of Second Century Ventures. "We are confident the nine technologies, and the founders who lead them, will not only help the market navigate post-pandemic challenges but will revolutionize the future of real estate. We look forward to announcing the companies selected for our residential technology scale-up in the coming weeks as these two cohorts will work together to leverage our rapidly expanding global community of real estate industry professionals, strategic partners, investors and mentors." REACH will announce the companies selected to its residential real estate technology program later this month. Both U.S.-based cohorts will experience a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2021 REACH Commercial program and how you can get involved at narreach.com. About REACH REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. About the National Association of REALTORS® The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

Second Century Ventures Announces 2020 REACH and REACH Commercial Companies
CHICAGO (May 18, 2020) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced Monday the selection of its 2020 REACH and REACH Commercial programs. Second Century Ventures is the most active global venture fund in real estate technology with more than 100 portfolio companies worldwide. Second Century Ventures operates the global REACH accelerator with operations in five major markets. The award-winning REACH program helps launch and accelerate high growth potential companies in the real estate, financial services, banking, home services and insurance industries. "NAR has spent decades exploring and investing in the technological innovations we believe will define the future of America's real estate market – investments that appear even more critical in the face of the COVID-19 pandemic," said Bob Goldberg, CEO of the National Association of Realtors® and President of Second Century Ventures. "While we look at this crisis as an opportunity to grow and adapt to the markets of the future, we know it is also a time when NAR's commitment to equipping Realtors® with the technology they need to survive in a rapidly-evolving market is more important than ever," Goldberg continued. "The REACH program allows NAR to deliver radical and actionable innovation in all aspects of real estate, and we are thrilled to welcome 16 new companies representing a dynamic group of entrepreneurs who will work hand in hand with the Realtor® family to transform our industry." Companies selected for the 2020 REACH and REACH Commercial classes offer innovation in transaction management, insurance, home and small business security, digital marketing, multifamily housing amenity services, clean energy and more. Collectively, these two classes have raised over $50 million in capital, employ more than 340 people and represent a market capitalization of more than $400 million. "The companies selected for the 2020 REACH program rose to the top of a tremendously impressive list of applicants," said Dave Garland, Managing Partner of Second Century Ventures. "With the support and guidance of our vast global community of real estate industry professionals, strategic partners, investors and mentors, we are confident the 2020 class participants will be among the most instrumental companies to deliver positive and enduring transformation for real estate." The eight companies selected for the REACH Class of 2020 include: Earnnest: secure, electronic escrow fund transfer platform Kangaroo: affordable, DIY smart home and small business security solutions RealX: America's first online property rights exchange Ylopo: end-to-end, cross platform, digital marketing PunchList: all-in-one closing repair solution Transactly: simple, streamlined platform for real estate professionals and transaction coordinators CartoFront: software-as-service (Saas) based flood insurance tool for Realtors® Modus: secure, modernized title and escrow platform The eight companies selected for the REACH Commercial Class of 2020 include: Obie: insurance and portfolio management for small-to-medium CRE investors and owners EPR2: clean energy solutions for commercial property owners Pear Chef: private chef and culinary services for the multi-family housing market Dealius: integrated, web-based CRE brokerage management platform Dealius Capital: working capital funding specializing in lease commission receivables Leasera: on-demand services platform for the multi-family rental housing market Real Time Risk Solutions: mobile risk management platform with advanced analytics Occupier: Deal management, lease accounting and lease portfolio management solution "The rave success of the inaugural commercial program in 2019 more than illustrated the need for innovation that supports practitioners, owners, managers and investors alike," said Tyler Thompson, Managing Partner, Second Century Ventures. "We are excited to debut the REACH Commercial Class of 2020, a remarkable lineup of solutions across the commercial real estate eco-system, and we're eager to accelerate their growth through unrivaled access and exposure to the industry." REACH will offer its 2020 classes a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2020 REACH and REACH Commercial classes and how you can get involved at narreach.com. About REACH REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. About the National Association of REALTORS® The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

Second Century Ventures Makes Investment in Modern Moving Services Platform Updater
CHICAGO (February 11, 2020) -- Second Century Ventures, the venture capital arm of the National Association of Realtors, announced today that it has made an investment in Updater, a leading digital moving concierge firm that allows Realtors to offer their clients a seamless, frustration-free moving process. Updater was a member of Second Century Ventures’ inaugural 2013 REACH Accelerator class, a unique technology growth program that provides companies with education, mentorship, an insight panel and industry exposure to facilitate their launch into the marketplace. “We're changing how moving works for consumers and turning it into an enjoyable, frictionless experience,” said David Greenberg, Updater’s founder and CEO. “We’re excited to deepen our great relationship with SCV and NAR by investing heavily in the real estate industry and by enabling Realtors® and property managers to deliver an unrivaled moving experience.” Updater plans to use its current investment round to support aggressive growth initiatives. That undertaking includes the recently announced acquisition of Bridgevine, a leading provider of technology for home subscription sign-ups and associated concierge offerings. Bridgevine will become part of Updater’s home services division, helping expand app distribution and enhance Updater’s suite of products. Mark Birschbach, NAR's senior vice president of Strategic Business, Innovation & Technology also expressed confidence following Tuesday’s announcement. “We are impressed with Updater’s business progress and pleased to make an investment to reinforce its successful growth strategy,” Birschbach said. “Updater’s platform delivers unique value to Realtors®, property managers and consumers alike. This investment is well aligned with SCV’s mission to support and advance technologies throughout the entire real estate ecosystem.” About Updater Updater makes moving easier for the 17 million households that relocate every year in the US. With Updater, users seamlessly transfer utilities, forward mail, connect TV and internet, and much more. Hundreds of the most prominent real estate companies in the US (from real estate brokerages to multifamily and relocation companies) rely on Updater’s technology to save clients hours with a branded and personalized Updater moving experience. To learn more, visit www.updater.com. About Second Century Ventures Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries including real estate, financial services, banking, home services and insurance. SCV seeks to define and deliver the future of the world's largest industries by acting as a catalyst for new technologies, new opportunities, and new talent. The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

Moderne Ventures Announces its January 2020 Passport Class
Moderne Ventures accepts seven companies into its Passport Program; companies address seismic shifts in real estate, finance, insurance, hospitality and home services. CHICAGO, Jan. 23, 2020 -- Moderne Ventures, a venture fund focused on real estate, finance, insurance, hospitality and home services, announced seven new companies accepted into its 2020 Passport Program, a highly immersive, seven month industry immersion program providing its participants education, exposure, insight, and relationships to drive customer growth. The 2020 Passport Companies provide solutions using artificial intelligence, robotics and services automation to help progress 100+ year old industries. This Class has collectively raised over $33M in funding with valuations north of $130M. The companies are: Aclaimant—Chicago, IL: Workflow process automation platform for safety and risk management Addressable – San Francisco, CA: Robotic handwriting technology application transforming traditional mail into a highly effective customer acquisition and relationship building platform BendHSA—Boston, MA: A next generation Health Savings Account provider for corporations and 1099 workers Heretik—Chicago, IL: AI based contract review and lease abstraction platform helping organizations make smarter, faster, and more favorable decisions with their data. hOM—New York, NY: A community operating platform with a centrally vetted marketplace of services, wellness programs and pop-up events NumberAI—Oakland, CA: AI-enhanced assistant that answers calls, enables landline texting, automatically responds to common questions and qualifies leads to enable businesses to better communicate with consumers SuburbanJungle—New York, NY: Advisory and technology platform that helps families find the best place to call home “The Passport Program curates the most innovative solutions addressing our industries. We help companies understand complexities, optimize their products and services and connect them to partners who can benefit most from them,” said Constance Freedman, Moderne Ventures’ Founder and Managing Partner. “We are excited to see how this Passport Class will impact how we work, live and play.” About Moderne Ventures Moderne Ventures invests in technology companies in and around real estate, finance, insurance, hospitality and home services. Moderne operates a Venture Fund and the Moderne Passport, an Industry Immersion Program designed to foster innovation, partnership and growth between industry partners and emerging technology companies. Moderne works with over 700 executives and corporations within its industries and evaluates over 4,500 emerging tech companies each year. Its principals have invested in 90+ companies including DocuSign, Better, Easyknock, Hello Alfred, Homesnap and ICON.

Second Century Ventures Makes Investment in Home Captain
CHICAGO (October 29, 2019) — The National Association of Realtors®' venture capital fund, Second Century Ventures, has made an investment in Home Captain, a veteran-owned, technology-enabled real estate platform that guides consumers through the home buying process. Home Captain was a member of Second Century Ventures' 2016 REACH Accelerator class, a unique technology growth program that provides companies with education, mentorship, an insight panel and industry exposure to facilitate their launch into the marketplace. "This financing provides Home Captain with additional working capital to accelerate our commercialization efforts and refinement of our AI toolset that builds a more qualified pipeline for Realtors® and lenders," said Grant Moon, Founder and CEO at Home Captain. "It also deepens the strategic relationship between a proven market leader and the National Association of Realtors®' unparalleled network within the real estate sector." NAR's Senior Vice President of Strategic Business, Innovation & Technology Mark Birschbach also expressed his support for Tuesday's announcement. "We are delighted to make this investment in Home Captain to further accelerate its current growth path. Its platform greatly improves the home buying experience by matching buyers who have been pre-qualified for a mortgage loan to a curated network of real estate agents." About Home Captain Home Captain is a veteran-owned, Conversion Optimization System that helps guide prospective clients through the home buying process. Home Captain's concierge team leverages an algorithmic matching process to pair pre-qualified homebuyers with a highly qualified professional in the company's curated network of over 95,000 participating real estate agents. The concierge team, comprised mainly of military spouses, acts as the liaison between the loan officer, homebuyer and real estate agent. Combined with their AI-powered chatbot and lender portfolio retention services, Home Captain increases lender conversion rates and borrower satisfaction. For more information, visit homecaptain.com. About Second Century Ventures Second Century Ventures is an early-stage technology fund, backed by NAR, which leverages the association's more than 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries, including real estate, financial services, banking, home services and insurance. SCV seeks to define and deliver the future of the world's largest industries by acting as a catalyst for new technologies, new opportunities and new talent. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Moderne Ventures Announces 2019 Midyear Passport Class
Seven new companies join 50+ companies in Moderne's Portfolio, introducing innovative products and solutions impactful to the real estate, finance, insurance, hospitality and home services industries CHICAGO, July 18, 2019 -- Moderne Ventures, a venture investment fund focused on technology and innovation, announced today the names of the seven companies accepted into its 2019 Midyear Passport Program, a 7-month industry immersion program designed to help companies accelerate growth and build meaningful partnerships within Moderne's multi-trillion dollar industries. Selected companies will access to the Moderne Network, a membership of 700+ executives, participate in 100+ mentor meetings, develop pilot opportunities and gain exposure through various key industry events. In exchange for their counsel, industry leaders receive insider access to disruptive technologies, and help shape their solutions into meaningful value drivers. Collectively, the new Class has raised over $58.5M prior to partnering with Moderne, with a combined valuation of $206.6M. The new Companies are: Aquanta (aquanta.io)—Tysons, VA: Aquanta's smart water heater controller delivers leak detection, smart control, and up to 30% energy savings for buildings and homes. EasyKnock (easyknock.com)—New York, NY: EasyKnock partners with real estate agents and brokers to help their clients' access equity for down payments, home improvements and to bridge new home purchases. FilterEasy (filtereasy.com)—Raleigh, NC: FilterEasy partners with real estate companies and asset managers to provide a set it and forget it air filter subscription service at competitive prices. Its service reduces operating expenses for multi-family, single-family, and commercial properties while improving customer experience. Real Synch (realsynch.com)—Austin, TX: Enterprise applications are often managed by disjointed systems. Real Synch provides seamless integrations between these systems leading to better user and customer experiences. Silvernest (silvernest.com)—Denver, CO: Silvernest is an online homesharing platform creating the next generation of roommates. Monthly membership includes roommate matching, rent and lease management, localized support services and more. Storefront (thestorefront.com)—New York, NY: Storefront's marketplace makes retail locations accessible to any brand in the world by activating property owners retail space with a single click. Turn Technologies (turning.io)—Chicago, IL: Turn provides productivity tools and a benefits suite to 1099 workers that encourages engagement and retention. "Moderne works with the largest and most well-respected companies in our industries, keeping a close pulse on opportunities, gaps and challenges. We selected this class based on market needs," said Constance Freedman, Moderne Ventures founder and managing partner. "By helping the Passport companies optimize their product or service for the benefit of our core industries, we're simultaneously enhancing the value for both the companies and leading firms alike. We can't wait to see the impact of this new Class." About Moderne Ventures Moderne Ventures invests in technology companies in and around real estate, finance, insurance, home services and hospitality. Moderne most often looks outside its industries to find game-changing innovation that can be applicable within them. Moderne operates both a Venture Fund and the Moderne Passport, an Industry Immersion Program designed to foster innovation, partnership and growth between industry partners and new emerging technology companies. Moderne works with over 700 executives and corporations within its core industries and evaluates over 4,500 emerging tech companies each year. Its principals have invested in over 80 companies including DocuSign, Updater, August, Better, Hello Alfred, TaskEasy, Homesnap and Leaselock.

Realtor Survey Shows Decline in Foreign Investment in U.S. Residential Real Estate
WASHINGTON (July 17, 2019) -- A decline in global growth and low housing inventory contributed to a drop in foreign investment in U.S. residential real estate over the past year. This is according to an annual survey of residential purchases from international buyers, released today by the National Association of Realtors®, which found that foreign buyers purchased fewer U.S. existing homes from April 2018 through March 2019. Global economic growth, which increased in 2016 to 2017, slowed to 3.6% in 2018 and is on pace to taper to 3.3% in 2019. NAR's Profile of International Transactions in U.S. Residential Real Estate 2019 revealed that foreign buyers purchased $77.9 billion worth of U.S. existing homes from the 2019 survey reference period, a 36% decline from the level reached in the previous 12 months ($121 billion). Non-resident foreign buyers accounted for $33.2 billion of U.S. existing-home sales, a 37% decline from the prior level of $53 billion. Resident foreign buyers – that is, recent immigrants – purchased $44.7 billion of residential property, a 34% drop from the prior level ($67.9 billion). The dollar volume of purchases saw a decline as the number of purchases, as well as the average price, decreased from the previous year, as foreign buyers purchased in comparison to the levels during the previous 12 months. Foreign buyers were able to buy 183,100 properties (266,800 in the previous period) at an average price of $426,100. "A confluence of many factors – slower economic growth abroad, tighter capital controls in China, a stronger U.S. dollar and a low inventory of homes for sale – contributed to the pullback of foreign buyers," said Lawrence Yun, NAR chief economist. "However, the magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S." Top Foreign Buyers For the seventh consecutive year, China exceeded all other countries in terms of dollar volume of purchases, buying an estimated $13.4 billion worth of residential property, a 56% decline from the previous 12 months. The Chinese economy is growing at a slower pace compared to past years, slowing to 6.3% in 2019 compared to 6.9% in 2017. The Chinese government has also tightened the monitoring of dollar outflows since 2016 to manage its foreign exchange reserves. Following China, the next top foreign buyer for 2019 was Canada at $8.0 billion. While Chinese investors and Canadian investors tied concerning the number of purchases, on average, Chinese buyers bought properties at a higher price point. Therefore, China ranked ahead of Canada in terms of dollar volume. The third top international buyer was India at $6.9 billion, the United Kingdom was fourth at $3.8 billion and in fifth was Mexico at $2.3 billion. Each of the top five buyers experienced a decline in the dollar volume of purchases. International Buyers – Where Did They Go? Following historical trends, Florida was at the epicenter of foreign investment. The state attracted 20% of foreign buyers. Forty-two percent of Canadians purchased property in Florida. "Many Canadians and other foreigners found Florida so enticing because of its lenient tax laws," said Yun. "Additionally, many Florida metro areas have an inventory of cheaper properties, relatively speaking – a combination which makes the state a very popular destination." California followed Florida, accounting for 12% of international purchases. Thirty four percent of Chinese buyers purchased property in California, which represents a decline from one year ago. The third most popular destination among international buyers was Texas (10%), particularly desirable among Indian and Mexican buyers. Arizona accounted for 5% of international buyers, popular for Canadian and Mexican purchasers, followed by New Jersey (4%). New Jersey appealed to a mix of international buyers, especially those from the United Kingdom. A few other significant destinations were North Carolina, Illinois, New York and Georgia. Each of these states accounted for 3% of all foreign buyers. Price Points Forty-four percent of foreign buyers purchased in a suburban area, while 76% purchased single detached family homes and townhomes. The median purchase price for foreign buyers was $280,600, slightly higher than the $259,600 average for all U.S. existing homes sold. According to Yun, the price difference is a reflection of the choice of location and the kinds of properties desired by foreign buyers. Eight percent of international buyers paid $1 million or more for their property, compared to just 3% of all U.S. existing homebuyers. Resident foreign buyers – those living in the United States either as recent immigrants or those holding visas for professional, educational or other purposes – typically purchased properties at a slightly higher price point ($282,500) compared to non-resident foreign purchasers ($277,700). "Even though numbers were lower this year than during the previous 12 months, international investors and buyers still spent and invested a great deal of money in U.S. real estate," said NAR President John Smaby, a second-generation Realtor® from Edina, Minnesota and broker at Edina Realty. "Home buyers from across the globe know that the U.S. market is still a safe, secure and promising place to invest." The survey also showed that international buyers are more likely to purchase their homes in cash than all existing homebuyers. Forty-one percent of the reported transactions were all-cash sales, in comparison to 21% for all existing-home purchases during the 2019 assessment reference period. Non-resident foreign buyers are more likely to pay in cash than resident foreign buyers, who are more likely to acquire mortgage financing from U.S. sources. Sixty-three percent of non-resident foreign buyers had an all-cash purchase transaction, compared to 25% among resident foreign buyers. Canadian buyers, who primarily live abroad, were the most likely to pay all cash (75%). The majority of Asian Indian buyers, most of whom resided in the U.S. as recent immigrants or visa holders, obtained a U.S. mortgage. Almost half of Chinese buyers made an all-cash purchase. NAR's 2019 Profile of International Transactions in U.S. Residential Real Estate was conducted April 5 through May 3, 2019. A sample of Realtors® was surveyed to measure the share of U.S. residential real estate sales to international clients, and to provide a profile of the origin, destination and buying preferences of international clients, as well as the challenges and opportunities faced by Realtors® in serving foreign clients. The survey presents information about transactions with international clients during the 12-month period between April 2018 and March 2019. A total of 11,812 Realtors® responded to the 2019 survey. The 2019 Profile of International Transactions in U.S. Residential Real Estate can be ordered by calling 800-874-6500, or online at www.nar.realtor/prodser.nsf/Research. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Second Century Ventures REACH Accelerator Program Expands Worldwide
WASHINGTON (June 19, 2019) - Second Century Ventures, the National Association of Realtors' strategic investment arm, will expand the REACH Accelerator program to regions outside the United States. Through global expansion with its proven model for success, the REACH program aims to recruit and accelerate the most promising new technologies in the real estate industry and nurture success across the world. "Expanding the NAR REACH accelerator program outside the U.S. will further NAR's vision of creating a dynamic, competitive real estate market that will help NAR advance our members-first mission and drive innovation in real estate technology around the world," said Bob Goldberg, CEO of the National Association of Realtors®, and President of Second Century Ventures. This announcement comes a month after NAR announced the signing of its 100th bilateral partner agreement in 85 countries across the world, expanding global partnerships to continue to render the global real estate markets accessible, profitable and ethical for Realtors® everywhere. "By expanding globally, REACH will increase the depth of our exceptional network of real estate industry professionals, strategic partners, investors, mentors, and innovators responsible for shaping change," said Dave Garland, Managing Director of Second Century Ventures. "With the success of current and alumni REACH companies with Australian born operations, Rate My Agent, BoxBrownie.com and ActivePipe, we are excited to begin our expansion efforts with REACH Australia." Program expansion in Australia will be led by Shelli Trung, expert Proptech VC investor and tech founder. Prior to joining Second Century Ventures, Shelli served as Expert in Residence and Investment Fund Manager at Queensland University of Technology Creative Enterprise Australia (QUTCEA), "It is an honor to join the Second Century Ventures team and lead the REACH Australia accelerator. Much like the U.S. marketplace, technology and capital are revolutionizing real estate at a rapid pace in Australia. REACH Australia is a unique opportunity to accelerate growth in emerging technology companies and entrepreneurs who will have the greatest impact on real estate now and in the future." Applications for REACH Australia will open July 15. For more information, visit www.narreach.com. REACH is a growth accelerator created by Second Century Ventures, an early-stage technology fund, backed by the National Association of Realtors ®, which leverages the association's 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. REACH has received ongoing recognition as a top accelerator by the Seed Accelerator Rankings Project. The REACH program provides education, mentorship, market exposure, and access to a global network of real estate executives and strategic investors. For more on REACH, visit www.narreach.com. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Second Century Ventures Announces 2019 Accelerator Class
WASHINGTON (April 23, 2019) – Second Century Ventures, the strategic investment arm of the National Association of Realtors®, announced its 2019 REACH® Class today. REACH® is a growth technology accelerator program helping launch companies into the real estate, financial services, banking, home services and insurance industries. The REACH® accelerator focuses on providing early- to mid-stage companies with access to NAR's industry expertise, influence and key relationships as businesses launch into the trillion-dollar real estate space. The vertical focus within real estate industries and the growth stage at which most companies enter the program make Second Century Ventures unique compared to other accelerators. "As the real estate industry continues to evolve at a rapid pace, Second Century Ventures has positioned NAR at the forefront of the emerging technology landscape. REACH® continues to recruit and accelerate the most promising new technology companies through education, mentorship and market exposure efforts, driving industry innovation and our ability to deliver new technology to our members," said Bob Goldberg, NAR's CEO. The companies chosen for the 2019 class are: Amarki: A seamless, automated marketing platform that helps real estate professionals integrate their favorite systems in one place; Curbio: Helps agents deliver exceptional results for home sellers through ROI-focused, pay-at-close renovations; Evocalize: A platform that makes sophisticated digital marketing simple, and helps brokerages and agents collaborate to generate demand when and where it's needed; Kleard: Kleard is a safety and productivity app that provides real-time verification for open houses and showings; RateMyAgent: A digital marketing tool designed to help agents easily collect, share and promote verified client feedback; reConsortia: An open, crowdsourced referral consortium that builds transparency, enhances professionalism and provides an improved customer experience; and Staging & Design Network: The first-ever online shared rental pool for home furnishings built for the real estate and home staging communities. "The future of our industry is increasingly dependent on fast, seamless adoption of technology that benefits homebuyers, sellers and investors at every step of a real estate transaction. Companies accepted to the REACH® program are positioned for rapid growth within the real estate, finance and home services spaces, which will help them expand into other verticals and benefit the overall real estate industry," said Mark Birschbach, NAR's Senior Vice President of Strategic Business, Innovation & Technology. Hundreds of applications are received annually. Those chosen for the program have demonstrated solid business models, executable business plans and significant potential to influence our nation's economy. Program participants can expect significant results, as past classes have, on average, doubled their customer base and collectively raised over $300 million in financing following acceptance. REACH® is a unique strategic accelerator created by Second Century Ventures, a strategic technology investment fund backed by the National Association of Realtors®, which leverages the association's more than 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH® Accelerator program helps technology companies launch into the real estate vertical and its adjacent markets. The 9-month program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH®, visit www.narreach.com. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Second Century Ventures Launches REach Commercial Accelerator
WASHINGTON (February 19, 2019) — Second Century Ventures, the National Association of Realtors®' strategic investment arm, has launched REach® Commercial, its first commercial real estate technology accelerator. Applications for the 2019 REach® Commercial class will be accepted through March 31, 2019, at narreach.com/apply. "Expanding the REach® accelerator program will further NAR’s vision outlined last summer at the iOi conference in San Francisco, creating a dynamic, competitive real estate market that will help NAR advance our members-first mission for years to come," said Bob Goldberg, CEO of the National Association of Realtors®, and President of Second Century Ventures. "REach® Commercial will continue to leverage an exceptional network of real estate industry professionals, strategic partners, investors, and mentors to increase the depth of the commercial real estate field." With the foundation of the REach® Accelerator curriculum, which has graduated 48 companies that have collectively raised over $350M in financing during or after program acceptance, and the recent acquisition of select Elmspring accelerator assets, REach® Commercial will offer its 2019 class unparalleled access to the commercial real estate industry. Co-founded by Elmdale Partners' Adam Freeman and Tom Bretz, the Elmspring accelerator was uniquely incepted to drive innovative concepts in housing, smart home automation, multifamily, hospitality, space arbitrage, smart office planning, construction and more. "Venture capital is flowing into real estate technology at an exponential rate, driving innovation in every corner of the industry," said Mark Birschbach, NAR's Senior Vice President of Strategic Business, Innovation & Technology. "REach® Commercial enables us to invest in the entrepreneurs and companies that are revolutionizing the commercial real estate landscape while positioning Realtors® to be the first to embrace these changing technologies." REach® Commercial will offer its 2019 class a robust curriculum including: Mentorship from a roster of commercial and housing industry professionals, investors and strategic partners; Access to NAR's Insight Panel, a group of more than 50,000 real estate professionals who provide feedback on user experience, product viability and pricing; Education on how to navigate the multi-trillion dollar commercial real estate marketplace with the backing of the nation’s largest trade association and a $5 billion brand; Networking opportunities at local, national and international industry events; and Significant Exposure through NAR’s marketing and communication channels. Applications for the 2019 REach® Commercial class will be accepted through March 31, 2019, at www.narreach.com/apply. Selected companies will be announced at the REALTORS® Legislative Meetings & Trade Expo, May 13-18, 2019, in Washington, D.C. REach® is a unique real estate technology accelerator created by Second Century Ventures, a strategic technology investment fund backed by NAR to leverage the association’s more than 1.3 million members and its unparalleled network of executives within real estate and adjacent industries. The REach® Accelerator is a nine month program designed to help technology firms launch into the real estate vertical and its adjacent markets by providing education, mentorship and market exposure to one of the world’s largest industries. For more on REach®, visit www.narreach.com. The National Association of Realtors® is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Redfin Survey: Gen-Xers and Older Millennials Believe Stocks Are a Better Investment than Real Estate
35-44 year olds were hit hardest by the housing bust just as they reached prime first-time homebuying age SEATTLE, Jan. 7, 2019 -- Less than half of homebuyers and sellers between the ages of 35 and 44 believe that real estate is a better long-term investment than the stock market, according to a survey from Redfin, the next-generation real estate brokerage. In December 2018, Redfin surveyed more than 2,600 people nationwide who at the time bought or sold a home in the last year, attempted to do so, or had plans to buy or sell in the near future. Buyers who reached the median first-time homebuyer age of 31 years old between 2008 and 2012 during the Great Recession and housing market collapse are now 37 to 41 years old. Redfin's survey results show that this was the only age group that has less confidence in real estate as an investment than the stock market. Just 48 percent of homebuyers and sellers in this age group believe that real estate is a better long-term investment than the stock market. "The oldest Millennials and youngest Gen-Xers entered their late twenties or early thirties during the housing crash, which explains why they are more skeptical about investing in real-estate," said Redfin chief economist Daryl Fairweather. "This generation experienced a major setback during the housing bust, which hit just as they were most likely to be getting married, starting a family, and becoming a first time homeowner. Looking into the future, we expect to see homeownership increase as Millennials enter prime home-buying age. This is because Millennials have a more favorable opinion of real estate as an investment than Gen-Xers, and Millennials are a larger group than Gen-Xers." In every other age group, buyers and sellers who believe that real estate is a better long-term investment outnumbered those who believe the stock market is better. Younger Baby Boomers, respondents aged 55 to 64, were the most optimistic about real estate as an investment. For the complete report and methodology, click here. About Redfin Redfin is the next-generation real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the #1 brokerage website in the United States and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. The company has closed more than $60 billion in home sales.

REach Technology Accelerator Named Among Best in Nation for Second Consecutive Year; Now Accepting Applications for 2019 Class
CHICAGO (December 13, 2018) – For the second consecutive year, ​​​​​REach®, the growth technology accelerator operated by the National Association of Realtors®' strategic investment arm, Second Century Ventures, was named among the top accelerators in the U.S. by the Seed Accelerator Rankings Project, or SARP. Now in its sixth year, SARP is compiled by researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University and the University of Richmond. It aims to provide transparency around performance so that entrepreneurs can make educated decisions when choosing from the hundreds of programs that market themselves as accelerators. "The growth and innovative strategy of the ​​REach®​ program has allowed NAR and its members to stay ahead of the constant technological changes in the real estate market. For the REach®​ program to be recognized as one of the top accelerators in the country for a second straight year is an honor and we look forward to growing the program further to benefit Realtors®​ and their businesses," said NAR CEO Bob Goldberg. This year, SARP reviewed performance metrics and solicited feedback from alumni of over 150 startup accelerators; the top companies were ranked in four categories: platinum plus, platinum, gold and silver. "It is an honor to once again be recognized by SARP, alongside 25 other elite accelerators across the country. We see a huge potential for success for all ​REach® companies, and being honored by SARP for the second year in-a-row shows just how valuable REach®​​​​​​​​ companies are to NAR's members and the industry at-large," said Mark Birschbach, Senior Vice President, Strategic Business, Innovation & Technology at NAR. REach®​​​​​​​​ differs from other accelerators in both its vertical focus within the real estate and related industries, and in its early-to-mid growth stage at which most companies enter the program. Previous classes have found great success within the accelerator program and have on average doubled their customer base and collectively raised over $300 million in financing both during and after the program. Applications for the 2019 class can be submitted at narreach.com/apply. "We are excited to have the opportunity to invest our time and resources into the companies chosen to be a part of the ​​​​​​​REach®​​​​​​​​​​​​​​​​​​​​​ program and look forward to welcoming a new class in 2019 and propelling them into the real estate industry," said Goldberg. Applications for the 2019 ​​​​​​​REach®​​​​​​​ program will be accepted through January 31, 2019. Selected companies will be announced in March 2019; the nine-month program kicks off at the end of March and runs through November 2019. The ​​​​​​​REach®​​​​​​​​​​​​​​ accelerator program offers education, mentorship and exposure for technology companies to enter into the real estate industry, advance their businesses and expand into adjacent markets such as insurance, mortgage and financial services. REach®​​​​​​​​​​​​​​​​​​​​​ provides a unique opportunity for technology companies to get exposure to an industry that represents more than $1 trillion in revenue, consists of more than 100,000 small- and medium-sized businesses and generates more than $12.5 billion in annual advertising spend in the U.S. Companies that have participated in REach®​​​​​​​​​​​​​​​​​​​​​ show impressive results: In aggregate, the companies have raised more than $300 million of follow-on financing. Revenue, customer and/or user growth rates from 50 percent to 2,000 percent. Key partnerships with major companies, including DocuSign, Coldwell Banker, RE/MAX, RealtyOne, zipLogix, Google, and Facebook. For more information about REach®​​​​​​​​​​​​​​​​​​​​​ or to submit an application, visit narreach.com/apply. SARP rankings and selection criteria can be found at seedrankings.com. Second Century Ventures is an early-stage technology fund, backed by the National Association of Realtors®​​​​​​​​​​​​​​​​​​​​​ that leverages the association's 1.3 million members and an unparalleled network of executives within real estate and adjacent industries. SCV systematically launches its portfolio companies into the world's largest industries including real estate, financial services, banking, home services, and insurance. SCV seeks to define and deliver the future of the world's largest industries by serving as a catalyst for new technologies, new opportunities and new talent. The National Association of Realtors®​​​​​​​​​​​​​​​​​​​​​ is America's largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries. <p>CHICAGO (December 13, 2018) – For the second consecutive year, ​​​​​REach®, the growth technology accelerator operated by the National Association of Realtors®' strategic investment arm, Second Century Ventures, was named among the top accelerators in the U.S. by the Seed Accelerator Rankings Project, or SARP.</p> <p>Now in its sixth year, SARP is compiled by researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University and the University of Richmond. It aims to provide transparency around performance so that entrepreneurs can make educated decisions when choosing from the hundreds of programs that market themselves as accelerators.</p> <p>"The growth and innovative strategy of the ​​REach®​ program has allowed NAR and its members to stay ahead of the constant technological changes in the real estate market. For the REach®​ program to be recognized as one of the top accelerators in the country for a second straight year is an honor and we look forward to growing the program further to benefit Realtors®​ and their businesses," said NAR CEO Bob Goldberg.</p> <p>This year, SARP reviewed performance metrics and solicited feedback from alumni of over 150 startup accelerators; the top companies were ranked in four categories: platinum plus, platinum, gold and silver.</p> <p>"It is an honor to once again be recognized by SARP, alongside 25 other elite accelerators across the country. We see a huge potential for success for all ​REach® companies, and being honored by SARP for the second year in-a-row shows just how valuable REach®​​​​​​​​ companies are to NAR's members and the industry at-large," said Mark Birschbach, Senior Vice President, Strategic Business, Innovation &amp; Technology at NAR.</p> <p>REach®​​​​​​​​ differs from other accelerators in both its vertical focus within the real estate and related industries, and in its early-to-mid growth stage at which most companies enter the program. Previous classes have found great success within the accelerator program and have on average doubled their customer base and collectively raised over $300 million in financing both during and after the program. Applications for the 2019 class can be submitted at <a href="http://www.narreach.com/apply" target="_blank">narreach.com/apply</a>.</p> <p>"We are excited to have the opportunity to invest our time and resources into the companies chosen to be a part of the ​​​​​​​REach®​​​​​​​​​​​​​​​​​​​​​ program and look forward to welcoming a new class in 2019 and propelling them into the real estate industry," said Goldberg.</p> <p>Applications for the 2019 ​​​​​​​REach®​​​​​​​ program will be accepted through January 31, 2019. Selected companies will be announced in March 2019; the nine-month program kicks off at the end of March and runs through November 2019.</p> <p>The ​​​​​​​REach®​​​​​​​​​​​​​​ accelerator program offers education, mentorship and exposure for technology companies to enter into the real estate industry, advance their businesses and expand into adjacent markets such as insurance, mortgage and financial services. REach®​​​​​​​​​​​​​​​​​​​​​ provides a unique opportunity for technology companies to get exposure to an industry that represents more than $1 trillion in revenue, consists of more than 100,000 small- and medium-sized businesses and generates more than $12.5 billion in annual advertising spend in the U.S.</p> <p>Companies that have participated in REach®​​​​​​​​​​​​​​​​​​​​​ show impressive results:</p> <ul> <li>In aggregate, the companies have raised more than $300 million of follow-on financing.</li> <li>Revenue, customer and/or user growth rates from 50 percent to 2,000 percent.</li> <li>Key partnerships with major companies, including DocuSign, Coldwell Banker, RE/MAX, RealtyOne, zipLogix, Google, and Facebook.</li> </ul> <p>For more information about REach®​​​​​​​​​​​​​​​​​​​​​ or to submit an application, visit <a href="http://narreach.com/apply" target="_blank">narreach.com/apply</a>. SARP rankings and selection criteria can be found at <a href="http://www.seedrankings.com/" target="_blank">seedrankings.com</a>.</p> <p>Second Century Ventures is an early-stage technology fund, backed by the National Association of Realtors®​​​​​​​​​​​​​​​​​​​​​ that leverages the association's 1.3 million members and an unparalleled network of executives within real estate and adjacent industries.</p> <p>SCV systematically launches its portfolio companies into the world's largest industries including real estate, financial services, banking, home services, and insurance. SCV seeks to define and deliver the future of the world's largest industries by serving as a catalyst for new technologies, new opportunities and new talent.</p> <p>The National Association of Realtors®​​​​​​​​​​​​​​​​​​​​​ is America's largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.</p>

Opportunity Zones Offer Favorable Real Estate Investing Options in Amazon HQ2 Markets According to ATTOM Analysis
OZ Home Prices 30 to 67 Percent Lower Than Surrounding Market Prices;OZ 5-Year Home Price Appreciation Consistently Outpacing Surrounding Market HPA; IRVINE, Calif. — Nov. 15, 2018 — ATTOM Data Solutions, curator of the nation's premier property database, today released an analysis of Opportunity Zones in the three markets selected for some portion of Amazon's second headquarters, dubbed HQ2: New York, Washington, D.C., and Nashville. The analysis found that homes located in Opportunity Zones nationwide and in each of these three markets consistently were sold at a discount but also have appreciated in value more quickly over the past five years compared to homes outside of Opportunity Zones. "The new Opportunity Zones created by the tax reform legislation passed in December 2017 provide real estate investors with prime, tax-incentivized investing opportunities, particularly if they can find zones that are in the path of progress," said Daren Blomquist, senior vice president with ATTOM Data Solutions. "The newly announced Amazon HQ2 markets certainly qualify as being in the path of progress." The ATTOM analysis looked at housing characteristics, home values and price appreciation for 7.4 million residential properties and 259,000 home sales in more than 3,000 Opportunity Zones. Specifically in the Amazon HQ2 headquarter markets, ATTOM analyzed 80 Opportunity Zones in the Washington, D.C. metro area with a total of 263,889 single family homes and condos and a total of 3,031 home sales in 2018 year-to-date; 65 Opportunity Zones in the New York metro area with a total of 129,826 single family homes and condos and a total of 1,442 home sales YTD in 2018; and 5 Opportunity Zones in the Nashville metro area with a total of 28,381 single family homes and condos and 367 home sales YTD in 2018. New York Opportunity Zone Heat Map Washington, D.C., Opportunity Zone Heat Map The Opportunity Zone Discount The analysis found that the average home price in Opportunity Zones so far in 2018 through September is $163,746, 43 percent below the average home price of $287,150 outside of Opportunity Zones. This trend plays out in the local Amazon HQ2 markets, illustrating that real estate investors who buy in these zones are realizing a substantial discount below home prices in surrounding areas of the market. The Opportunity Zone Advantage Even though homes in Opportunity Zones are selling at a discount, they have been appreciating faster over the last five years. Nationwide, prices for homes in Opportunity Zones are up 72 percent over the last five years compared to 46 percent appreciation for homes outside of Opportunity Zones during the same period. This trend also holds true in the local Amazon HQ2 markets, suggesting that real estate investors in these areas have been able to have their cake and eat it too. Higher Share of Nonowner-Occupied Homes ATTOM also looked at the share of nonowner-occupied homes in Opportunity Zones since that provides insight into what real estate investing strategy may be most appropriate — home flipping or buying single family rentals. Nationwide, 37 percent of single family homes and condos in Opportunity Zones are nonowner-occupied, compared to 24 percent outside of Opportunity Zones. The numbers varied within the three local markets selected for some slice of Amazon HQ2 (see chart below). Lower Property Taxes Lastly, ATTOM analyzed average property taxes for home inside and outside Opportunity Zones. Property taxes are typically the second highest cost of home ownership — behind the actual sales price of the home — and as such should be factored into any real estate investing decisions. Nationwide, the average property tax for single family homes and condos in Opportunity Zones is $1,918, 41 percent below the average property tax of $3,248 for single family homes and condos not in Opportunity Zones. Average property taxes for homes inside Opportunity Zones were substantially lower than average property taxes for homes outside of Opportunity Zones in each of the three Amazon HQ2 markets. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.

Best Neighborhoods for Real Estate Buying and Investing
More Than 10,000 Neighborhoods Ranked and Assigned Letter Grades from A to F; Report Also Provides Aggregate Housing Characteristics and Trends by Neighborhood Grade IRVINE, Calif. – August 2, 2018 — ATTOM Data Solutions, curator of the nation's premier property database, today released its 2018 Neighborhood Housing Index, which uses new neighborhood boundary data to rank more than 10,000 neighborhood housing markets nationwide based on six factors impacting the hyperlocal housing market: affordability, home price appreciation, school scores, crime rates, unemployment rates and property taxes (see more in the methodology enclosed below). The top five U.S. neighborhood housing markets based on the index were the Pine Ridge neighborhood in the Naples, Florida, metro ($632,871 median price); Westlake neighborhood in the Mobile, Alabama, metro ($196,179); Union neighborhood in the San Jose, California, metro ($795,000); Westmoreland neighborhood in the Charlotte, North Carolina metro ($326,000); and Hunters Hill neighborhood in the Denver, Colorado, metro ($271,000). "While home prices are typically higher in higher-ranked neighborhoods with better schools and lower crime, there are still many top-notch neighborhoods with more reasonably priced homes," said Daren Blomquist, senior vice president at ATTOM Data Solutions. "The top five neighborhoods in this ranking represent a diverse set of markets across the country, illustrating that great neighborhoods come in many different forms." Housing trends by neighborhood grade ATTOM divided the 10,950 ranked neighborhoods into quintiles, assigning each of the five groups a letter grade from A to F, and then analyzed housing characteristics and trends by group. *Rental rates and returns, and home flipping returns are calculated at the zip code level based on the zip code in which each neighborhood is located. "It's somewhat surprising that the worst affordability is in neighborhoods with an F grade, even though those markets also posted the lowest home prices and negative price appreciation," Blomquist noted. "Meanwhile, rents are rising the fastest in these neighborhoods, illustrating why the path to homeownership can be so difficult in these areas." A-rated neighborhoods with home prices of $100,000 or less There were 136 neighborhoods with an A rating and with median home prices of $100,000 or less, led by the Devonshire neighborhood in the Mobile, Alabama, metro ($78,038 median price); the Park Central neighborhood in the Orlando Florida, metro ($91,750); the East English Village neighborhood in the Detroit, Michigan, metro area ($66,750); the Cypress Shores neighborhood in the Mobile, Alabama, metro ($85,000); and the Hathaway Manor neighborhood in the St. Louis, Missouri, metro ($69,190). About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.

Foreign Investment in U.S. Commercial Real Estate Remains Strong, China and Mexico Top Investors
WASHINGTON (June 28, 2018) — Nearly one-fifth of Realtors® practicing in commercial real estate closed a sale with an international client in 2017, and 35 percent said they have experienced an increase in the number of international clients in the past five years, according to a report from the National Association of Realtors®. NAR's 2018 Commercial Real Estate International Business Trends report analyzed cross-border commercial real estate transactions made by Realtors® during 2017. The study found that most Realtors® who specialize in commercial real estate reside in smaller commercial markets where the typical deal is less than $2.5 million. "The profile of smaller commercial markets is continuing to rise as many foreign investors are attracted to smaller-sized properties in secondary and tertiary markets, bringing Realtors® confidence that increased sales and leasing activity will continue to occur in 2018," said Lawrence Yun, NAR chief economist. "Since 2016, world economies have regained their footing and have pressed toward higher ground. Global economic output increased in 2017, and commercial real estate continues to be a healthy investment for global investors," Yun added. Of the 59 percent of Realtors® who indicated they completed a commercial real estate transaction last year (69 percent in 2016), 18 percent reported closing a deal for an international client (20 percent in 2016). Among survey respondents who closed an international transaction, 46 percent closed a buyer-side transaction, 13 percent a seller-side transaction and the remainder closed both types of transactions. Over 60 percent of buyer-side sales were transactions with foreign buyers who primarily reside abroad. Most seller-side transactions (57 percent) were of properties sold by clients who were temporarily residing in the U.S. on non-immigrant visas. Nineteen percent of Realtors® said they completed a lease agreement on behalf of a foreign client, down from 22 percent in 2016. The median gross lease value for international lease transactions was $200,000 ($105,000 in 2016) with most space typically under 2,500 square feet. The top countries of origin for buyers were China (20 percent), Mexico (11 percent), Canada (8 percent) and the United Kingdom (6 percent). While sellers were typically from Mexico (20 percent), China (15 percent), and Brazil and Israel (both at 10 percent). Florida and Texas were the top two states where foreigners purchased and sold commercial property last year, with California being the third most popular buyer and seller destination. International commercial buyer and seller transactions typically tend to be at the higher end of the market. Last year, the median international buyer-side transaction was $975,000 and a median seller-side transaction was $1 million, while the median commercial transaction was $625,000. "Realtors®' international clients found U.S. commercial real estate markets to be a good value in 2017. About seven in 10 respondents reported that international clients view U.S. prices to be about the same or less expensive than prices in their home country," Yun stated. The survey also found that foreign buyers of commercial property typically bring more cash to the table than those purchasing residential real estate. Seventy percent of international transactions were closed with cash, while NAR's 2017 residential survey found that half of buyers paid in cash. For those not using all cash, 25 percent of commercial deals involved debt financing from U.S. sources. A majority of buyers purchased commercial space for rental property (39 percent) or for business investment purposes (34 percent). NAR's commercial community includes commercial members, real estate boards, committees, advisory boards and forums; and NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, Realtors® Land Institute, Society of Industrial and Office Realtors®, and Counselors of Real Estate. Approximately 80,000 NAR members specialize in commercial real estate brokerage and related services including property management, land counseling and appraisal. In addition, more than 200,000 members are involved in commercial transactions as a secondary business. The National Association of Realtors® is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Matterport's Innovative 3D Reality Capture Technology Helps Protect Valuable Property Investments
Matterport Drives Transparency Resulting in Fair and Fast Payout for Property Owners Attempting to Get Lives and Businesses Back on Track SUNNYVALE, Calif., Dec. 14, 2017 -- Emerging 3D reality capture technology is helping property owners protect against insurance losses, both before and after disaster strikes. Matterport, the immersive 3D media technology company based in Silicon Valley, is being called a "game changer" by professionals in the property claims market. After disasters, property owners, public adjusters, contractors, and attorneys face substantial obstacles when assessing structures for repair. Damage must be precisely documented, which can't be done comprehensively with 2D photos or video. In addition, the claims process can take months, during a time which a building's condition can change, further complicating the claims and rebuilding process. This provides a real issue for owners who have to complete repairs as quickly as possible, sometimes before the insurance claim is sorted. Owners need to proactively "freeze" (or capture) their properties in time, so they can easily proceed with repairs and the claims process in the event of loss. While photography and videos are both tools that can be used, they don't provide nuance, which is why many property owners today have turned to Matterport's immersive 3D and virtual reality (VR) platform to record their spaces in pre-and-post-damage condition. "We are pleased to see homeowners, claims adjusters and insurance professionals adopting our 3D reality capture technology to document their property," said Matterport CEO Bill Brown. "As seen with the recent devastation wrought by natural disasters across the United States, Matterport's ability to capture an exact replica of a property helps to provide the fairest outcomes, cuts time and expense for insurance professionals and expedites the insurance claims and rebuilding process for property owners. Matterport technology is not only cost effective and simple to use but also produces results that are far superior to 2D photography." Ft. Lauderdale, FL-based WriteLoss, a business that documents property damage, started using Matterport cameras and cloud-based services over 18 months ago, in over 500 cases across 36 states. "The Matterport technology precisely captures a property's condition at a specific moment in time in a way that's game-changing," said David Herring, CEO of WriteLoss. "The immersive nature of the technology provides visceral, detailed views of a property and what is needed to fix it. A decision-maker can be located thousands of miles away and yet feel like she is walking through the property at her own pace, while deciding what to see." "Anyone who lives in a hurricane, flood, fire or earthquake zone should really consider getting a 3D model of their property in case disaster hits," added Herring. "But the same goes for business or homeowners anywhere. It's an inexpensive way to ensure you are financially protected should you experience a loss as regular as, say, overhead water damage. We tell people to hold on to receipts, but insurance companies want to see photo documentation because that's what changes the outcome and makes it better for people, and I can't think of a better way to document that than Matterport." Founded in 2011, Matterport gives people the freedom to experience any place at any time and from anywhere. There are numerous applications across industries beyond property recovery, including real estate, hospitality, travel, entertainment, construction, and others. Matterport's easy-to-use platform captures immersive 3D tours, virtual reality experiences, Google Street View inside view tours, 3D floor plans, guided tours and more. The all-in-one technology requires little to no training to operate, and a 2,000-square-foot space can be captured in under an hour. About Matterport Headquartered in Sunnyvale, CA, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on Web, mobile devices, and VR headsets. The Matterport Pro Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences. More information about Matterport is available at www.matterport.com. To learn more about becoming a Matterport Service Provider, visit our Service Provider Program.

U.S. Home Sellers Realized Average Price Gain of $51,000 in Second Quarter of 2017, Highest in 10 Years
Average Homeownership Tenure Increases to New Record High of 8.05 Years; Cash Sales Share of Home Sales Increases Annually For First Time in Four Years; Institutional Investor Share of Sales Up in Memphis, Charlotte, Nashville, Baltimore, Raleigh IRVINE, Calif. – July 27, 2017 — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 U.S. Home Sales Report, which shows that homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000. The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent. The report also shows that homeowners who sold in the second quarter had owned an average of 8.05 years, up from 7.85 years in the previous quarter and up from 7.59 years in Q2 2016 to the longest average homeownership tenure as far back as data is available, Q1 2000. “Potential home sellers in today’s market are caught in a Catch-22. While it’s the most profitable time to sell in a decade, it’s also extremely difficult to find another home to purchase, which is helping to keep homeowners in their homes longer before selling,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “And the market is becoming even more competitive, with the share of cash buyers in the second quarter increasing annually for the first time in four years.” Cash sales share increases annually for first time since Q1 2013 All-cash sales represented 28.9 percent of all single family and condo sales in Q2 2017, down from 31.3 percent of all sales in the first quarter, but up from 27.3 percent of all sales in Q2 2016 — the first annual increase in the share of cash sales since Q1 2013. Among major metropolitan areas with a population of at least 1 million, those with the highest share of all-cash sales in Q2 2017 were Raleigh, North Carolina (57.4 percent); Miami (46.2 percent); Detroit (45.2 percent); Oklahoma City (44.6 percent); and Tampa-St. Petersburg, Florida (43.2 percent). Institutional investor sales share down nationwide, up in 26 percent of local markets The share of U.S. single family home and condo sales sold to institutional investors (entities buying at least 10 properties in a calendar year) was 2.1 percent in the second quarter, up from 1.8 percent in the first quarter but down from 2.6 percent a year ago. Among 73 metropolitan statistical areas with a population of at least 200,000 and at least 40 institutional investor sales in Q2 2017, those with the highest share of institutional investor sales in the second quarter were; Macon, Georgia (8.9 percent); Memphis, Tennessee (8.6 percent); Killeen-Temple, Texas (8.3 percent); Clarksville, Tennessee (7.8 percent); and Birmingham, Alabama (7.4 percent). Counter to the national trend, 19 of the 73 metro areas (26 percent) posted year-over-year increases in the share of institutional investor purchases, including Memphis, Tennessee (up 6 percent); Charlotte, North Carolina (up 6 percent); Nashville, Tennessee (up 37 percent); Baltimore, Maryland (up 3 percent); and Raleigh, North Carolina (up 42 percent). Highest average home seller returns in Northern California, Seattle and Denver Among 118 metropolitan statistical areas with at least 1,000 home sales in Q2 2017 with previous sale information available, those with the highest average home seller returns were San Jose, California (75 percent); San Francisco, California (65 percent); Seattle, Washington (63 percent); Modesto, California (62 percent); and Denver, Colorado (62 percent). “An ongoing issue in the greater Seattle area is a lack of supply which is aggressively driving up home prices,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market. “The only short-term solution is to build more homes, but thanks to land constraints and construction costs, this simply is not happening at a rate that you would normally expect in a market like this. Unfortunately I do not expect this trend to change until zoning and regulation costs change, which is unlikely in the current political climate.” Average homeownership tenure down in Chicago, Dallas, Philadelphia, DC and Detroit Counter to the national trend, the average homeownership tenure in Q2 2017 decreased from a year ago in 25 of 89 metro areas analyzed in the report (28 percent), including Chicago, Dallas, Philadelphia, Washington, D.C., and Detroit. Among major metropolitan areas with a population of at least 1 million, those with the longest average homeownership tenure for home sellers who sold in the second quarter were Boston, Massachusetts (11.91 years); Hartford, Connecticut (11.90 years); Providence, Rhode Island (10.28 years); San Francisco, California (9.87 years); and San Jose, California (9.71 years). “Across Southern California we are witnessing concerns over housing affordability keeping homeowners in current homes for longer tenure, and keeping available home inventories low in supply.” said Michael Mahon, president at First Team Real Estate covering the Southern California market, where the average homeownership tenure reached a new all-time high of 9.55 years in Q2 2017. Distressed sale share drops to lowest level since Q3 2007 Total distressed sales — bank-owned (REO) sales, third-party foreclosure auction sales, and short sales — accounted for 13.4 percent of all single family and condo sales in Q2 2017, down from 17.1 percent in the first quarter and down from 15.2 percent in Q2 2016 to the lowest level since Q3 2007. Among 141 metropolitan statistical areas with a population of at least 200,000 and at least 100 total distressed sales in Q2 2017, those with the highest share of total distressed sales were Atlantic City, New Jersey (40.2 percent); Canton, Ohio (31.0 percent); Columbus, Georgia (27.8 percent); Trenton, New Jersey (27.7 percent); and Akron, Ohio (27.5 percent). Counter to the national trend, 39 of the 141 metro areas (28 percent) posted year-over-year increases in share of distressed sales, including New York, New York (up 13 percent); Denver, Colorado (up 3 percent); Pittsburgh, Pennsylvania (up 31 percent); Cincinnati, Ohio (up 19 percent); and Cleveland, Ohio (up 5 percent). FHA buyer share drops to lowest level in more than two years Sales to FHA buyers (typically first time homebuyers or other buyers with a low down payment) represented 14.3 percent of all U.S. single family and condo sales in Q2 2017, down from 14.4 percent of all sales in the first quarter and down from 16.0 percent in Q2 2016 to the lowest level since Q1 2015. Among metro areas with a population of at least 1 million, those with the highest share of sales to FHA buyers were Kansas City (25.0 percent); Salt Lake City (24.5 percent); Indianapolis (24.5 percent); Houston (23.9 percent); and San Antonio (23.6 percent). Report methodology The ATTOM Data Solutions U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers, a state and metropolitan statistical area. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. About ATTOM Data Solutions ATTOM Data Solutions is the curator of the ATTOM Data Warehouse, a multi-sourced national property database that blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, health hazards, neighborhood characteristics and other property characteristic data for more than 150 million U.S. residential and commercial properties. The ATTOM Data Warehouse delivers actionable data to businesses, consumers, government agencies, universities, policymakers and the media in multiple ways, including bulk file licenses, APIs and customized reports. ATTOM Data Solutions also powers consumer websites designed to promote real estate transparency: RealtyTrac.com is a property search and research portal for foreclosures and other off-market properties; Homefacts.com is a neighborhood research portal providing hyperlocal risks and amenities information; HomeDisclosure.com produces detailed property pre-diligence reports.

Realtor.com® Names 2017 Hottest College Investment Towns Ahead of National College Decision Day
  SANTA CLARA, Calif., April 26, 2017 -- Realtor.com®, a leading online real estate destination operated by News Corp subsidiary Move, Inc., today announced its top picks for college towns in the U.S. where it is less expensive to buy versus rent as high school seniors and their parents around the country gear up for National Decision Day on May 1. To compile the list, realtor.com® compared average monthly rental costs to the average monthly home payment (mortgage, property taxes and insurance) in markets surrounding notable colleges and universities. Baltimore, home of Johns Hopkins University, ranked as the top market to buy versus rent with an average monthly homeownership cost of $775, in comparison to a $1,443 monthly rental cost. "College tuition in the U.S. has increased more than 60 percent over the last 10 years," said Javier Vivas, manager of economic research for realtor.com®. "Assuming you can afford the down payment, owning a home that your child can live in while at school can help cut the high costs of off campus living. It also makes a great future investment as a steady flow of students into the town continues to drive demand." Realtor.com®'s Top College Towns It takes an average of 21 percent of local median household income to purchase a home in these counties, compared to 28 percent for the U.S. overall. Yet, renting in these markets is more expensive, taking an average 27 percent of income compared to 25 percent for the U.S. These markets have strong local economies and healthy real estate fundamentals to support at least average home price appreciation. Of these markets, all but Baltimore and Champaign are seeing the median age of inventory decline, while Champaign and Swarthmore see median age of inventory longer than the U.S. These markets represent strong millennial buying trends as well, with an average market share of 41 percent for people under 35, compared to 38 percent to the U.S. overall. Only Champaign, West Lafayette, and College Park see under a 38 percent share for millennials. Methodology:Realtor.com defined college towns as counties with at least one four-year college and sizable student housing population. Areas were then ranked based on monthly money saved from owning instead of renting. Monthly mortgage rates were calculated based on the median listed homes on realtor.com (assuming a 20 percent down payment) and the median rent for the county. Facts About Realtor.com®'s Top College Towns 1. Johns Hopkins University - BaltimoreHome ownership cost: $775Rent payment: $1,443 Local housing market: The median price for a home in Baltimore County is $131,400, well below the national median of $260,000, and has an average of three bedrooms and two bathrooms. Charles Village, a small neighborhood located south east of campus, is popular for students. Another great area for investors is in and around the recently revitalized East Baltimore Development Inc. project. 2. University of Notre Dame – South BendHome ownership cost: $470Rental payment: $856 Local housing market: With a median home price of $89,900, the area surrounding University of Notre Dame offers the most affordable home prices on the list. When comparing the average ownership cost and rental payment, parent investors could potentially save $386 a month, which does not account for their student living with roommates. South Bend is a popular student neighborhood around Notre Dame where housing stretches the dollar and offers multiple bedrooms with affordable prices. 3. Purdue University – West LafayetteHome ownership cost: $666Rent payment: $970 Local housing market: Homes near Purdue University have an average price of $131,000 and offer an average of three bedrooms and two bathrooms. Parents looking to invest may want to consider the Chauncey Hill area, which is popular with students due to its close proximity to campus and overall walkability. 4. Michigan State University – East LansingHome ownership cost: $628Rent payment: $930 Local housing market: The median price for a home in Ingham County is $107,225 and has an average of three bedrooms and two bathrooms. Downtown East Lansing is popular among younger undergraduate students who want to be close to campus, as well as bars and restaurants. Parents of graduate students may want to consider the Groeseck neighborhood, which is better for those looking for a quieter, more relaxed environment. 5. University of Pennsylvania – PhiladelphiaHome ownership cost: $964Rent payment: $1,252 Local housing market: The average home surrounding University of Pennsylvania is $167,950, well below the national median, and offers three bedrooms and two bathrooms. With an average monthly rent of more than $1,200, parents looking to invest in real estate have the potential for significant income. Point Breeze and Passyunk are popular neighborhoods for undergraduate students because of their proximity to campus, as well as their general walkability. 6. University of Maryland – College ParkHome ownership cost: $1,699Rent payment: $1,971 Local housing market: University of Maryland has the highest average home price on the list, with a median of $300,447, as well as the highest average monthly rent of $1,971. While more costly, the average home has four bedrooms and three bathrooms, which gives parents more opportunities for rental income. Parent investors should consider buying in popular student areas of College Park Woods and Hollywood on the Hill. 7. Case Western Reserve University – ClevelandHome ownership cost: $677Rent payment: $866 Local housing market: Homes in Cuyahoga County have a median price of $120,574, well below the national average, and offer an average of three bedrooms and two bathrooms. Coventry, North Coventry, and Cedar-Fairmount are popular neighborhoods among students because of their easy access to shopping and grocery stores as well as nightlife. 8. Swarthmore College – SwarthmoreHome ownership cost: $1,128Rent payment: $1,252 Popular student neighborhoods: The median price home in Delaware County is $189,125 and offers three bedrooms and two bathrooms. Parents of students attending Swathmore College may want to consider an investment in the revitalized downtown that is attracting large groups of students or the nearby borough of Media, which offers larger homes with a little more peace and quiet. 9. Marquette University – MilwaukeeHome ownership cost: $856Rent payment: $954 Local housing market: Parents considering an investment around Marquette University will pay an average of $135,450 for three bedrooms and two bathrooms. Beerline, a small neighborhood that borders the north side of the Milwaukee River is home to many new developments ready for investors, while the Lower East Side neighborhood offers single-family homes, high-rise apartment complexes and everything in between. 10. University of Illinois – ChampaignHome ownership cost: $875Rent payment: $956 Local housing market: The median priced home in Champaign County is $149,075 with three bedrooms and two bathrooms. To the west of campus lies "Senior Land," which is highly popular with students as well as anything on Green Street between Neil Street and Lincoln Avenue. Downtown Champaign has been revitalized with a vibrant live music scene and a host of bars and restaurants to please just about anyone. About realtor.com®Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.

89% of U.S. Investors Interested in Putting Their Money into Real Estate
10-04-2016 — Could real estate be the hottest trend in investing? While the concept itself isn't new, confidence and intrigue in this investment strategy are high according to recent findings from a national survey of U.S. investors by Better Homes and Gardens®Real Estate, which found 89 percent of U.S. investors surveyed are interested in incorporating real estate into their investment strategies. The results also revealed that 80 percent of U.S. investors surveyed believe a real estate portfolio is one of the best financial legacies they could leave for their family, so what could this mean for the real estate industry? Real Estate Investors of Today and Tomorrow Nearly all (96%) of U.S. investors surveyed who have invested in real estate believe their decision has helped them achieve some form of financial success: 52% greater overall financial stability 51% greater long-term net worth 45% greater monthly cash flow 94% percent of those who have invested in real estate are interested in making a future investment of this kind 84% who have invested in real estate indicated that they will make another real estate investment 2 in 5 planning to do so in less than a year 80% of investors surveyed who have never previously invested in real estate expressed an interest in making this financial commitment: 96% of Millennial investors are interested in making a real estate investment, showing greater interest than their Boomer counterparts (83%) Millennials are more drawn to personal real estate investments (79%) than commercial (49%) Family Motivations Behind Real Estate Investment Despite capturing the public's fascination through reality TV, only a small portion of respondents (29%) view property flipping as a beneficial real estate investment. Rather, research revealed that family is a driving motivation behind real estate investments. 79% of investor respondents feel it is important to invest in a property that they could use for themselves or a family member at some point. 83% of parents who invest would consider buying a property for or with their child or grandchild to: Co-manage and profit from together (40%) Manage and profit from it themselves (39%) Have their children or grandchildren live in the home during college (35%) Fund college tuition in the future (35%) Investing More than Money Unlike many other investments that can be made with the click of a button, real estate investments are often complex and require careful consideration. In fact, 89 percent of investors who have made a real estate investment in the last five years feel it is important for a real estate investment property to be geographically close, so that they could either manage or use it themselves. For non-investors, this commitment can be a deterrent. Eighty-nine percent of non-real estate investors surveyed who cited concerns about jumping in on an investment property, the top reason was that they don't know enough about investing in real estate (42%), followed by it requires too much time (41%), demands too much starting capital (35%) and that it is "risky" (28%). There is a clear need for real estate professionals and their insights – 30 percent would be more likely to invest if they had access to a real estate investment professional for advice, or resources to explain how to get started. This need translates into a set of expectations. Approximately 53 percent of respondents expect a real estate agent to advise on managing the investment, as well as provide guidance on terms (49%) and down payment advice (47%). "To see consumer confidence of this magnitude is very promising," said Sherry Chris, President and CEO, Better Homes and Gardens Real Estate. "Through this research, we've discovered that a majority of investors, including Millennials, Gen Xers and Baby Boomers, believe real estate is the best way to diversify an investment portfolio. What's fascinating is that even when it comes to real estate investments, for many, there are still emotional drivers that accompany this type of transaction. Consumers are starting to look forward and see real estate as a viable investment strategy, and as an industry, we need to help educate and guide these individuals on the right path to achieve this goal. "The aspiration to invest in real estate is there, yet it is up to real estate professionals to explain the fundamentals and help to serve as strategic sources throughout the process. Our hope is that this research empowers our industry to provide the resources and develop the necessary information to accelerate this opportunity for both current and future real estate investors." About the Survey The Better Homes and Gardens Real Estate Investors Survey was conducted by Wakefield Research, among 1,000 U.S. investors, between June 30 and July 12, 2016, using an email invitation and an online survey.Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interview and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample. About Better Homes and Gardens Real Estate LLC Better Homes and Gardens Real Estate LLC is a dynamic real estate brand that offers a full range of services to brokers, sales associates and home buyers and sellers. Using innovative technology, sophisticated business systems and the broad appeal of a lifestyle brand, Better Homes and Gardens Real Estate LLC embodies the future of the real estate industry while remaining grounded in the tradition of home. Better Homes and Gardens Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. The growing Better Homes and Gardens® Real Estate network includes more than 10,000 affiliated sales associates and approximately 300 offices serving home buyers and sellers across the United States, Canada and the Bahamas. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC and used with permission. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens® Real Estate Franchise is independently owned and operated. For more information, visit www.BHGRealEstate.com.

Vacation Home Sales Retreat, Investment Sales Leap in 2015
  WASHINGTON (April 6, 2016) — Vacation home sales cooled off in 2015 but remained at the second highest amount in nearly a decade, while investment purchases increased for the first time in five years, according to an annual survey of residential homebuyers released today by the National Association of Realtors®. Mirroring the strong price growth seen throughout the U.S., the median sales price of both vacation and investment homes surged in 2015. NAR's 2016 Investment and Vacation Home Buyers Survey,covering existing- and new-home transactions in 2015, found that vacation-home sales last year declined to an estimated 920,000, down 18.5 percent from their most recent peak level of 1.13 million in 2014. Investment-home sales in 2015 jumped 7.0 percent to an estimated 1.09 million from 1.02 million in 2014. Owner-occupied purchases jumped 15.9 percent to 3.74 million last year from 3.23 million in 2014 — the highest level since 2007 (3.93 million). Sales estimates are based on a national online survey including responses from over 2,000 U.S. adults who purchased a residential property in 2015, and exclude institutional investment activity. Lawrence Yun, NAR chief economist, says vacation sales took a sizeable step back in 2015, but still came in at the second highest amount since 2006 (1.07 million). "Baby boomers at or near retirement continue to propel the demand for second homes, although headwinds softened the overall volume of vacation sales last year," he said. "The expanding pool of buyers amidst a dwindling number of bargain-priced properties led to tighter supply and fewer sales and caused the price of vacation homes to rise. Furthermore, the turbulence that hit the financial markets the second half of the year likely seized some would-be buyers' available cash." The median sales price of both vacation and investment homes soared in 2015. The median vacation home price was $192,000, up 28.0 percent from $150,000 in 2014. The median investment-home sales price was $143,500, up 15.3 percent from $124,500 a year ago. According to Yun, many of the metro areas with the strongest price appreciation in 2015 were in the South — the most popular destination for vacation buyers - and particularly in several Florida markets. While increased buyer demand contributed to the run-up in prices, it also likely squeezed less affluent households looking to purchase vacation properties. Vacation-home sales accounted for 16 percent of all transactions in 2015 — down from 2014 (21 percent), but still the second highest share since the survey was first conducted in 2003. The portion of investment sales remained unchanged from a year ago at 19 percent, and owner-occupied purchases increased to 65 percent (60 percent in 2014). "Despite a smaller share of distressed properties coming onto the market, investment purchases reversed course in 2015 after declining for four straight years," says Yun. "Steadily increasing home prices and strong rental demand appear to be giving more individual investors assurance that purchasing real estate will diversify their portfolios and generate additional income if they decide to rent out the home." This year's survey found that in addition to longer-term rentals, investors are most likely to attempt to and rent their properties for less than 30 days. Among investors, 42 percent did or tried to rent their property in 2015 and plan to rent their property in 2016. Twenty-four percent of vacation buyers did or tried to rent their property in 2015 and plan to rent their property this year. Vacation buyers are more likely to use a property manager or social media to rent their property, while investors are more likely to use a traditional real estate agency. The share of vacation buyers who paid in cash jumped to 38 percent from 30 percent in 2014, while cash purchases by investors decreased to 39 percent from 41 percent a year ago. Of buyers who financed their purchase with a mortgage, over half (52 percent) of vacation buyers and 44 percent of investors financed less than 70 percent of the purchase price. The overall trend of fewer distressed properties (short sale or foreclosure) on the market resulted in vacation buyers and investors purchasing less of them in 2015. Thirty-six percent of vacation buyers (45 percent in 2014) and 39 percent of investors (44 percent in 2014) purchased a distressed property a year ago. Characteristics of Vacation-Home Purchases Vacation-home buyers in 2015 had a higher median household income ($103,700) than those in 2014 ($94,380) and purchased a property that was a median distance of 200 miles away from their primary residence (unchanged from a year ago). Buyers plan to own their property for a median of 7 years, an increase from 6 years in 2014. With more vacation buyers purchasing single-family homes (58 percent) compared to a year ago (54 percent), the share of those buying a condo (25 percent) or a townhouse or row house (13 percent) decreased in this year's survey. Forty-percent of vacation buyers purchased in a beach area, 19 percent purchased in the mountains or at a lakefront and 16 percent purchased a vacation home in the country. Nearly half of all vacation homes bought last year were in the South (47 percent; 41 percent in 2014), 25 percent were in the West (unchanged from a year ago), 15 percent in the Northeast (unchanged from a year ago) and 13 percent in the Midwest (14 percent in 2014). Over one-third of vacation buyers plan to use their property for vacations or as a family retreat (37 percent), 16 percent bought for future retirement plans and only 7 percent purchased to generate income through renting the property, a decrease from 11 percent in 2014. Characteristics of Investment-Home Purchases The typical investment-home buyer in 2015 had a median household income of $95,800 ($87,680 in 2014) and bought a detached single-family home (62 percent) that was a median distance of 22 miles from their primary residence (24 miles in 2014). Investment buyers last year purchased property for a variety of reasons, with an increasing share from 2014 citing rental income as the primary reason (42 percent; 37 percent in 2014), followed by low prices and the buyer found a good deal (16 percent), and for potential price appreciation (14 percent). Likely reflecting growing demand towards renting in the city, investment purchases in urban areas increased to 29 percent (26 percent in 2014). Purchased properties from investment buyers were more likely to be in the South (37 percent) and in a suburban area (41 percent). Perhaps encouraged by rising housing demand and home prices, over 80 percent of both vacation buyers and investment buyers believe that now is a good time to purchase real estate. NAR's 2016 Investment and Vacation Home Buyers Survey, conducted in March 2016, surveyed a sample of households that had purchased any type of residential real estate during 2015. The survey sample was drawn from a representative panel of U.S. adults monitored and maintained by an established survey research firm. A total of 2,053 qualified adults responded to the survey. Respondents were sampled to meet age and income quotas representative of all home buyers drawn from the NAR 2015 Profile of Home Buyers and Sellers. The 2016 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online. The report is free to NAR members and accredited media and costs $149.95 for non-members. The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Home Flipping Increases in 75 Percent of U.S. Markets in 2015
IRVINE, CA (March 03, 2016) — RealtyTrac®, the nation's leading source for comprehensive housing data, today released its Year-End and Q4 2015 U.S. Home Flipping Report, which shows that 179,778 U.S. single family homes and condos were flipped in 2015, 5.5 percent of all single family home and condo sales during the year. The 5.5 percent share of U.S. home flips in 2015 was up from a 5.3 percent share in 2014, marking the first annual increase in the share of homes flipped following four consecutive years of decreases. The share of homes flipped in 2015 increased from the previous year in 83 of 110 U.S. metropolitan statistical areas nationwide analyzed for the report (75 percent). For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data collected by RealtyTrac in more than 950 counties accounting for more than 80 percent of the U.S. population (see full methodology below). "As confidence in the housing recovery spreads, more real estate investors and would-be real estate investors are hopping on the home flipping bandwagon," said Daren Blomquist, senior vice president at RealtyTrac. "Not only is the share of home flips on the rise again, but we also see the flipping trend trickling down to smaller investors who are completing fewer flips per year. The total number of investors who completed at least one flip in 2015 was at the highest level since 2007, and the number of flips per investor was at the lowest level since 2008." There were 110,008 investors or entities that completed at least one home flip in 2015, the highest number of home flippers since 2007, when there were 130,603 home flippers. The peak in the number of active home flippers was in 2005, with 259,192. There were 1.63 home flips per investor in 2015, the lowest ratio of flips per investor since 2008. "More inexperienced home flippers with a smaller financial cushion could be a sign of an over-speculative market, but the data indicates that flippers in 2015 continued to operate within relatively conservative margins," Blomquist continued. "Homes flipped in 2015 were on average purchased at a 26 percent discount below estimated market value and re-sold by the flipper at a 5 percent premium above estimated market value." Share of homes flipped in 2015 above 2005 levels in 11 percent of markets The 5.5 percent share of U.S. homes flipped in 2015 was still well below the peak of 8.2 percent of U.S. homes flipped in 2005. Counter to the national trend, the share of homes flipped in 2015 was above 2005 levels in 12 of the 110 metro areas (11 percent) analyzed in the report, including Pittsburgh (19 percent above 2005 levels); Memphis (18 percent above 2005 levels); Buffalo, New York (12 percent above 2005 levels); San Diego (4 percent above 2005 levels); Seattle (4 percent above 2005 levels); Birmingham, Alabama (4 percent above 2005 levels); and Cleveland (3 percent above 2005 levels). "When home flipping numbers go up, it is usually an indication that the housing market is in trouble," said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market, where the share of homes flipped in 2015 was down from 2014 despite being above 2005 levels. "The problem with a rise in home flipping is that these sales artificially inflate home prices, making housing even less affordable for buyers and increasing the risk of a bubble. I'm happy to see that the percentage of home flipping sales in Seattle does not exceed the national average and that they're down from a year ago. This makes sense given our affordability constraints and lower potential for profits for home flippers." Metro areas with the biggest year-over-year increase in share of flips were Lakeland, Florida (up 50 percent); New Haven, Connecticut (up 45 percent); Jacksonville, Florida (up 41 percent); Homosassa Springs, Florida (up 40 percent); and Akron, Ohio (up 37 percent). "We continue to see distressed properties funnel through the pipeline in South Florida, which makes it ripe for investors to profit in a strong selling market," said Mike Pappas, CEO and president at the Keyes Company, covering the South Florida market. "There are always sellers that will discount for a quick cash sale and open the door for astute investors to make a good return by repositioning the property." The Miami metro area had the most homes flipped of any market nationwide in 2015, with 10,658, representing 8.6 percent of all Miami-area home sales for the year and up 4 percent as a share of all sales from 2014. Average gross flipping profit at a 10-year high in 2015 Homes flipped in 2015 yielded an average gross profit of $55,000 nationwide, the highest average gross profit for homes flipped nationwide since 2005, when the average gross profit on flipped homes was $58,750. The average gross flipping profit is the difference between the purchase price and the flipped price (not including rehab costs and other expenses incurred, which flipping experts estimate typically run between 20 percent and 33 percent of the property's after repair value). The average gross flipping profit of $55,000 in 2015 represented an average gross return on investment (ROI) of 45.8 percent, up from 44.2 percent in 2014 and up from a 35.3 percent in 2005. The annual peak in average gross flipping ROI was 2013 at 46.0 percent. The average gross ROI is the gross profit expressed as a percentage of the original purchase price. Markets with highest average gross flipping profits, ROI and increase in ROI Among 110 metro areas with at least 250 flips in 2015, those with the highest average gross flipping profit in dollars in 2015 were San Francisco ($145,000); San Jose, California ($145,000); New York ($120,000); Los Angeles ($115,000); and Oxnard-Thousand Oaks-Ventura, California (110,000). Markets with the highest average gross ROI on homes flipped in 2015 were Pittsburgh (129.5 percent); New Orleans (99.2 percent); Philadelphia (98.4 percent); Cincinnati (89.7 percent); and New Haven, Connecticut (89.6 percent). Markets with the biggest increase in average flipping gross ROI in 2015 compared to 2014 were Boise, Idaho (85 percent increase); Hartford, Connecticut (51 percent increase); Ocala, Florida (49 percent increase); Homosassa Springs, Florida (41 percent increase); and Huntsville, Alabama (39 percent increase). Highest share of home flips in Nevada, Florida, Alabama, Arizona and Tennessee States with the highest share of flips in 2015 were Nevada (8.8 percent); Florida (8.0 percent); Alabama (7.4 percent); Arizona (7.1 percent); and Tennessee (6.9 percent). Among states with at least 1,000 single family homes flipped in 2015, those with the biggest year-over-year increase in share of flips were Connecticut (up 23 percent); Oregon (up 21 percent); Maryland (up 19 percent); Illinois (up 18 percent); and New Jersey (up 17 percent). Among 110 metro areas with at least 250 flips in 2015, those with the highest share of flipping as a percentage of all single family home sales were Memphis (11.1 percent); Fresno, California (9.2 percent); Las Vegas (9.2 percent); Tampa (9.2 percent); and Deltona-Daytona Beach-Ormond Beach, Florida (9.1 percent). Report methodology RealtyTrac analyzed sales deed data and automated valuation data for this report. A single family home or condo flip was any transaction that occurred in the second quarter where a previous sale on the same property had occurred within the last 12 months. Average gross profit was calculated by subtracting the average price for the first sale (purchase) from the average price of the second sale (flip). Average gross return on investment was calculated by dividing the average gross profit by the first sale (purchase) price. About RealtyTrac RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs). Sourced from RealtyTrac subsidiary Homefacts.com, the company's proprietary national neighborhood-level database includes more than 50 key local and neighborhood level dynamics for residential properties, providing unrivaled pre-diligence capabilities and a parcel risk database for portfolio analysis. RealtyTrac's data is widely viewed as the industry standard and, as such, is relied upon by real estate professionals and service providers, marketers and financial institutions, as well as the Federal Reserve, U.S. Treasury Department, HUD, state housing and banking departments, investment funds and tens of millions of consumers.

Dell and Intel Capital Invest in The DocuSign Global Trust Network
SAN FRANCISCO and RANCHO PALOS VERDES, Calif., May 27, 2015 -- RE/CODE CODE CONFERENCE -- DocuSign, Inc. announced that Dell and Intel Capital have made strategic investments in DocuSign, bringing the company's Series F round of funding to more than $278 million. DocuSign helps more than 100,000 customers and more than 50 million users in 188 countries go fully digital for dramatic ROI, increased security and compliance, and better customer experiences. The funding will fuel accelerated worldwide expansion of The DocuSign Global Trust Network. "We're excited at the opportunity to help DocuSign achieve its massive potential as it transforms Digital Transaction Management worldwide," said Michael Dell, Chairman and CEO, Dell. "Intel and DocuSign share a hyper-focus on creating trusted platforms to power our customers' success," said Rick Echevarria, Vice President, Intel Security Group and General Manager of Intel Security Platforms Group. "We've seen the value of the DocuSign platform, and we look forward to integrating our offerings to help our customers worldwide securely transact anything, anytime, anywhere, on Intel-powered devices." "Through our strategic partnership, Microsoft and DocuSign are helping customers be more productive in a cloud-first, mobile-first world," said John Case, Corporate Vice President, Microsoft. "We're looking forward to accelerated growth as we deepen our built-to-last collaboration with DocuSign." "We're pleased to have the biggest technology brands invest in DocuSign as part of The DocuSign Global Trust Network," said Keith Krach, Chairman & CEO, DocuSign. "These strategic engagements will help bring the power and value of DocuSign's DTM platform to more countries, companies and customers around the world." DocuSign has now raised more than $500 million to date from financial institutions and strategic investors including Dell, Intel Capital, Google Ventures, Sapphire Ventures, VISA, Salesforce Ventures, Samsung Venture Investment Corporation, Telstra, Comcast Ventures, BBVA*, EDBI (the corporate investment arm of the Singapore Economic Development Board), Mitsui & CO (USA) Inc., NTT Finance, Recruit Holdings, and the National Association of REALTORS®. For more information about The DocuSign Global Trust Network, please visit http://www.docusign.com. About Intel Capital Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11.4 billion in over 1,400 companies in 57 countries. In that timeframe, 211 portfolio companies have gone public on various exchanges around the world, and 369 were acquired or participated in a merger. In 2014, Intel Capital invested $359 million in 125 investments, including 59 new deals. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com. About Dell Dell Inc. listens to customers and delivers innovative technology and services that give them the power to do more. For more information, visit www.dell.com. About DocuSign, Inc. DocuSign® is The Global Standard for Digital Transaction Management®. DocuSign helps more than 100,000 companies across nearly every industry and department make their digital transformation by putting an end to the paper chase. More than 50 million people in 188 countries turn to DocuSign to manage their most important transactions—digitally. DocuSign's DTM platform supports legally compliant signature processes tailored to meet requirements globally with localization in 43 languages. Every day more than 50,000 new users join The DocuSign Global Trust Network to increase speed to results, reduce costs, enhance security and compliance, and delight clients with a secure digital experience. For more information, visit www.docusign.com or call 877.720.2040.

Negative Equity and Home Values Decline
Despite some areas experiencing flattening or reversal of home value declines last year, one in five markets now showing signs of a possible double dip in homevValues, according to Q4 2009 Zillow® Real Estate Market Reports. Key facts: Negative equity remains high at 21 percent of all single family homes with mortgages, but was flat quarter-over-quarter. U.S. home values fell 5 percent year-over-year, and declined 0.5 percent quarter-over-quarter, marking the 12th consecutive quarter of year-over-year declines. In one in five, or 29 of the 143 markets tracked by Zillow, home values have flattened or have begun to decrease again after showing at least five consecutive monthly increases during 2009—early signs of a what could become a “double dip.” SEATTLE—Feb. 10, 2010—Home values across the country declined again in the fourth quarter of 2009, as the Zillow Home Value Index[i] fell 5 percent year-over-year, and 0.5 percent quarter-over-quarter, to $186,200. That marked the 12th consecutive quarter of year-over-year declines, according to the fourth quarter Zillow Real Estate Market Reports[ii]. Despite home value declines seen across most of the country throughout 2009, some markets experienced what appeared to be a bottom in home value declines, or even increases in home values during the year. However, the fourth quarter of the year brought signs that the fledgling recovery of home values in many of these markets is slowing again. If the declines are sustained, the result will be a “double dip[iii]” in home values, defined as two periods of sustained declines in home values separated by a brief period of stabilization or recovery. One in five, or 29 of the 143 markets tracked by Zillow, showed at least five consecutive month-over-month increases in home values during 2009 before beginning to flatten or fall again in the second part of the year. These markets include the Boston metropolitan statistical area (MSA), the Atlanta MSA and the San Diego MSA. Home values in an additional 29 markets, including the Los Angeles and New York MSAs, increased on a month-over-month basis each month throughout the fourth quarter. However, the rate of increase slowed from November to December in 21 of those markets, and several appear likely to experience several months of sustained decline in early 2010. The percent of single family homes with mortgages in negative equity was essentially flat from the third to the fourth quarter, changing from 21 percent in Q3 to 21.4 percent in Q4. This comes after a decrease in negative equity from the second quarter’s 23 percent. The number of homeowners losing their homes to foreclosure[iv] across the country reached a peak in December, with more than one in every thousand homes being foreclosed—a number not reached since Zillow began recording national foreclosure data in 2000. “While we have seen strong stabilization in home values during 2009, there are clear signs that they will turn more negative in the near-term,” said Zillow Chief Economist Stan Humphries. “What we saw in mid-2009 was a brief respite from a larger market correction that has not yet run its course. The good news is that, for those markets that will see a double dip in home values before reaching a definitive bottom, this second dip will not be a return to the magnitude of depreciation seen earlier, but rather will look more like a modest aftershock of the earlier downturn. “The recent stabilization owed a lot to policy support in the form of tax credits, lower interest rates and increased Federal Housing Administration lending. The remaining correction in home values we’ll see in the first half of this year is a function of market fundamentals, such as the increasing flow of foreclosures, high levels of inventory in the market and a probable decrease in demand as the impact of the tax credit wanes and mortgage rates rise. While the next few months are likely to bring further home value declines in most markets, we do expect to see a national bottom in home prices by the middle of this year. Thereafter, home values are likely to bounce along the bottom with real appreciation remaining negligible for some time.” Foreclosure resales[v] across the country remained high, making up more than one-fifth (20.3 percent) of all U.S. home sales in December. Foreclosure resales also made up the majority of sales in several MSAs, including the Merced, CA MSA (68.3 percent), the Las Vegas MSA (64 percent) and the Modesto, CA MSA (62 percent). Additionally, 28.5 percent of home sales nationwide sold for less than what the seller originally paid. Several markets across the country showed positive longer-term appreciation. Home values increased year-over-year in 27 of 143 markets and remained flat in 15. The Boston MSA was the largest area with year-over-year appreciation, despite its more recent downturn in home values. The area’s Zillow Home Value Index rose 1.9 percent in 2009. Home values in the Boston area rose for eight months in 2009, which outweighed the recent declines. To view the original press release from Zillow News, please click here.