Rob Hahn I saw the news that the court dismissed the complaint in Leeder v. NAR, the antitrust lawsuit filed against the same defendants on the same legal theories as Moehrl and Sitzer, but from the buyer’s perspective. I didn’t comment on it as I was waiting to read the opinion, and because I didn’t think it … Read more
How to talk about Zillow’s 1Q2022 earnings call results and the commentary by Rich Barton and Allen Parker? Let me put it this way: the first draft of this was over 7,500 words. After reading what I thought, I decided to summarize for everyone, including myself. As a preliminary matter, I’ve been writing about Zillow … Read more
A reader emailed me this story, Figure and Apollo Execute Mortgage Transactions Using Blockchain Technology to Transfer Ownership: Figure has begun originating eNote mortgages that are on-boarded as unique digital assets on the Provenance Blockchain. At the same time, they are auto-registered with Digital Asset Registration Technologies, Inc. (DART), a combined lien and eNote registry system developed … Read more
[NOTE: I am long OPEN and have been for a while as the self-proclaimed Biggest Bull on Market Maker iBuying in the World. None of this is investment advice or solicitation; it is education/entertainment from an industry analyst perspective.] Q1 of 2022 is when I will mark a major turning point in the history of … Read more
Inman has the story: The 1.5 million members of the National Association of Realtors will see a $10 increase in their yearly bill from the trade group next year for its consumer advertising campaign. The trade group’s special assessment for the ad campaign started as $15 in 1999, went to $20 in 2002, $30 in 2007 and … Read more
[NOTE: I am long OPEN, and have been for a while as the self-proclaimed Biggest Bull on Market Making iBuying in the World.] I’m working on a far more in-depth look at Opendoor’s amazing Q1 results. But I had to get this off my chest. Opendoor’s stock performance is proof that Wall Street simply doesn’t … Read more
Courtesy of my buddy Keith Robinson on Facebook, I saw the latest release from Attom on Q1/2022 U.S. Home Sales. The report can be found here. The big takeaway appears to be that there was a decline in “profit margins” on median-priced single family homes: ATTOM, a leading curator of real estate data nationwide for … Read more
Suddenly, it’s become like legal issue week here at Notorious. I wrote about the entirely expected certification of class action status in Sitzer v. NAR yesterday. Today, I get emailed the opinion by the 9th Circuit Court of Appeals in the PLS.com v. NAR lawsuit. If the class action opinion from Sitzer required reading tea … Read more
A number of readers have sent me the news and the actual opinion from the court hearing Sitzer v. NAR (Case No. 19-CV-00332-SRB), in which the court basically granted the plaintiffs everything they wanted. This is now officially a class action lawsuit, certified by the court, to include thousands, if not tens of thousands or … Read more