COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
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Copyright © , California Department of Real Estate
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Wednesday, April 23, 2025
Top Stories
Biggest MLS in the nation rejects NAR 'Delayed Marketing' policy
ANDREA V. BRAMBILA, Inman(Subscription)
California Regional MLS said in a statement that the new Multiple Listing Options for Sellers policy, which NAR states is mandatory, was created to “placate” complaining brokerages.
New brokerage disclosure forms aim to comply with NAR’s Clear Cooperation alternative
BROOKLEE HAN, HousingWire (Subscription)
As MLSs across the country work to implement the National Association of Realtors’ (NAR) Multiple Listing Options for Sellers (MLOS) policy, brokerages and some Realtor associations are busy creating the new disclosures needed for delayed marketing exempt listings. Over the weekend, Compass‘s new “Addendum to Listing Agreement” form began to circulate on social media alongside the “seller advisory” form debuted last week by eXp Realty.
LA agent caught smuggling 164 pounds of cocaine in Chicago
LILLIAN DICKERSON, Inman (Subscription)
You know it’s a tough market when an agent thinks his next best option is trying to smuggle nearly 164 pounds of cocaine through Chicago’s Union Station. That’s what LA-based agent Jerome Nalbandian resorted to this month, but authorities stopped him in his tracks once they saw him on April 13 toting four roller bags loaded up with 75.15 kilos of suspected cocaine through the station.
National News
WELL For Residential Standard Is In Alignment With Earth Day
JEFFREY STEELE, Forbes (Subscription)
According to the WELL Building Institute, WELL for Residential “is the first and only holistic, third-party verified certification program to exclusively address health and well-being in all residence types, including single-family homes and units in multifamily buildings.” As is the case with all WELL Building Standards, this lines up well with Earth Day goals of using environmental sustainability to promote health and well-being.
Big buildings, big trouble: US office market distress accelerates
CANDYD MENDOZA, Mortgage Professional America
The long-anticipated wave of distress in the US office market is beginning to take hold in early 2025, with large urban properties now facing growing pressure from persistently low demand, rising vacancies, and a surge in lease expirations.
Groups slam CFPB's bid to undo fair lending settlement as 'dangerous'
MATT CARTER, Inman (Subscription)
Fair housing and consumer groups are trying to stop the Trump administration from vacating a settlement the government reached with a Chicago mortgage broker just days before the November election.
California News
Massive art and culture hub coming to S.F. pier that’s been empty for more than a decade
LAURA WAXMANN, San Francisco Chronicle (Subscription)
On mission to claim some of downtown San Francisco’s languishing commercial buildings as affordable spaces for the city’s artists and culture groups, the Community Arts Stabilization Trust has set its sights on a vacant pier.
Fires, tariffs and high interest rates: L.A. housing construction plunged at start of year
ANDREW KHOURI, Los Angeles Times (Subscription)
Housing construction in Los Angeles plunged during the first quarter of 2025, according to a new report, a drop-off that could ultimately worsen the city’s affordability crisis. Developers pulled permits for 1,325 new homes in the city of L.A. during the first three months of 2025, down nearly 57% from the same period a year earlier.
Measure A oversight panels set five-year goals with metrics to evaluate their success
DOUG SMITH, Los Angeles Times (Subscription)
The authors of the Measure A half-cent homelessness sales tax that went into effect April 1 infused it with broad goals such as reducing the number of people who become homeless each year and increasing the number leaving encampments. To give the public tools to measure its success — or failure — they included a process to add concrete targets and time lines after county voters approved the measure in November.
San Jose housing complex project will switch to all-affordable units
GEORGE AVALOS, Los Angeles Times (Subscription)
A residential project near a San Jose train hub will switch to all-affordable housing and fewer units to improve the odds it will land state tax credits and construction financing. The affordable housing complex is being proposed for 1197 Lick Avenue in San Jose, which is next to the Tamien train station, according to documents on file with city planners.
Industry News
Listings are quietly 'commingling' on Zillow again after 4-year hiatus
TAYLOR ANDERSON, Inman (Subscription)
In most markets, the portal has resumed displaying non-MLS listings alongside other properties in spite of NAR’s no-commingling rule, the policy behind a lawsuit between Zillow and REX in 2021.
CHLA urges congressional restraint on mortgage fees in budget bill
CHRIS CLOW, HousingWire (Subscription)
Lawmakers in Congress are about to embark on deliberations that will shape government spending, aiming to balance political priorities with the realities of narrow Republican majorities in the House of Representatives and the Senate. But if any conversation turns to imposing larger fees on homeownership transactions, they should be handily rejected. This is according to the Community Home Lenders of America (CHLA), which this week submitted a letter to House and Senate committee chairs and ranking members that have oversight responsibility over the U.S. housing system.
FOA debuts new marketing campaign tying home equity to life’s ‘next chapter’
CHRIS CLOW, HousingWire (Subscription)
As it aims to appeal to potential clients who may be taking a closer look at tapping into home equity, reverse mortgage lender Finance of America (FOA) has debuted a new marketing campaign in concert with its new creative agency to illustrate the lifestyle impacts of its products. The campaign, called “A Better Way with FOA,” is being referred to as a new “brand platform” by the company. It will be comprised of a national television advertising campaign and digital ads as it aims to achieve its aspirations of connecting with new customers.
Real Estate Technology
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Property News
Brett Favre Lists Mississippi Home for $14 Million
LIBERTINA BRANDT, The Wall Street Journal (Subscription)
NFL Hall of Famer Brett Favre is listing his longtime Mississippi home for $14 million, making it one of the most expensive homes for sale in the state.
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