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Today: New York's vacancy crisis shows what happens when policy restricts supply (60,000+ vacant units), coming soon listings hit peak popularity with Zillow and Compass syndication deals, and agents are pivoting from transactional brokers to housing advisors as affordability walls tighten the market.
New home sales weakened in February following January's surge, according to the Housing Industry Association. While the data comes from Australia, the pattern mirrors U.S. trends where early-year activity often pulls forward demand, leaving February softer. For Clarke County agents, this reinforces the importance of maintaining momentum through the spring selling season rather than relying on seasonal spikes. Read more
New York City's median Manhattan rent hit $5,000/month in February with vacancy below 2%. The driver is not landlord greed but restricted supply. An estimated 60,000 to 80,000 rent-stabilized apartments sit vacant because renovation costs exceed legally permitted rents post-renovation. That represents several years of new housing production locked out of the market. For Athens landlords and investors, this is a cautionary tale about how rent control can backfire by removing units from the rental pool. Clarke County does not face these regulatory constraints, which means inventory can respond to demand. Read more
Office properties are driving a wave of maturity extensions in CMBS. Of 1,249 loans receiving extensions, office collateral accounts for 452 loans and $66.7 billion, representing 64% of total extension volume. Federal Center Plaza in Washington, DC received a maturity extension despite a 45.6% value decline from $309M to $168M since 2013, with physical occupancy dropping from 74% to 68%. The GSA anchor lease expires in August 2027, creating concentrated rollover risk. For Athens commercial investors, this signals continued stress in traditional office assets. Focus on adaptive reuse opportunities or multifamily/industrial sectors where fundamentals remain stronger. Read more
Arizona lawmakers are advancing two bills that would curb local control over design standards and homeowners associations. SB 1431 would bar municipalities from requiring developers to form an HOA as a condition of approval and sharply limit local design standards for single-family homes and accessory dwelling units (ADUs). Supporters say design rules add thousands of dollars per home and push entry-level buyers out of the market. The bill would also eliminate mandatory HOAs, which can add hundreds of dollars to monthly housing costs. The measure nearly failed in the Senate but advanced after supporters promised House amendments. For Athens agents, this is worth watching. Georgia does not currently have similar state-level pre-emption, but if Arizona's law reduces costs and accelerates construction, expect the model to spread. Read more
Coming soon listings are hitting peak popularity, with Zillow launching Zillow Preview and exclusive syndication deals with RE/MAX, Side, United Real Estate, HomeServices of America, and Keller Williams. Compass signed a mutually exclusive deal with Redfin and Rocket. eXp signed non-exclusive deals with Realtor.com, Homes.com, and ComeHome.com. The catch: most coming soon listings will only be pre-marketed for 24 hours due to local MLS rules. Brokers are split on the value. James Dwiggins of NextHome questions the point in a market where buyers are scarce and rates are high. Chip Stella of Rutledge Properties sees value in letting active buyers compare a coming soon listing to active inventory before making an offer. The downside: agents now have to monitor multiple sites (Compass.com, Zillow, Redfin, Realtor.com) to track new inventory for buyers. For Athens agents, this means adjusting workflows to check multiple platforms daily rather than relying solely on MLS feeds. Read more
Real estate agents are reinventing themselves as housing advisors in response to affordability constraints and limited inventory. The shift is from transactional broker to strategic advisor managing a client's real estate strategy over time. Cindy Scholz of Compass predicts fewer first-time buyers will be able to transact at any given moment, increasing engagement with renters, long-term planners, and investors. The role becomes less about closing now and more about stewarding clients through renting, investing, refinancing, and repositioning assets before a primary home purchase is feasible. Alternative revenue streams will include advisory retainers, investor partnerships, rental portfolio management, and referral-driven income across financing, legal, and tax advisory. Mike Miedler of Century 21 says agents should become knowledgeable about accessory dwelling units, modular homes, and tiny homes to create easier paths to homeownership. For Athens agents, this means adding ADU valuation and non-traditional financing knowledge to your toolkit. Investors will become a larger share of the business because they are less rate-sensitive and more focused on long-term fundamentals. Read more
Down Payment Resource analyzed $6.5 billion in declined loan volume and found 35% of declined loans could have been funded if the borrower had been matched with an appropriate down payment assistance (DPA) program. The average assistance amount per eligible borrower was nearly $27,000. The analysis focused on loans denied for debt-to-income ratio (DTI) or cash-to-close constraints. By restructuring loans with DPA programs, the loan-to-value (LTV) ratio declines by an average of 8.8%, which can enable borrowers to transition from FHA to conventional financing or qualify for more favorable mortgage insurance pricing. For Athens agents, this is a closing opportunity. Before writing off a buyer who was declined, cross-reference against available DPA programs. Georgia has state and local programs, and the average assistance can materially change qualification outcomes. Read more
The HECM for Purchase (Home Equity Conversion Mortgage) program has failed to gain traction despite being hailed as a potential game-changer for retirement. Michael Banner of American Pacific Mortgage says the program represents less than 3% of the reverse mortgage world. The product launched in February 2009 as part of the Housing and Economic Recovery Act. The issue is not product design but industry execution. Reverse mortgage professionals have little to no experience in the purchase world, and the industry continues to suffer from stigma despite HUD reforms in 2009-2010 that removed junk fees and capped origination fees. For Athens agents working with seniors, HECM for Purchase can allow buyers 62+ to purchase a home using a reverse mortgage, eliminating monthly mortgage payments. The challenge is finding a reverse mortgage professional who understands purchase transactions and can move with urgency. Read more
PHH Mortgage Corp. has rebranded as Onity Mortgage, effective Monday. The company was the nation's 21st-largest originator in 2025 with $24.2 billion in volume (42% growth from 2024) and ranked No. 18 nationally with a servicing portfolio of $153.6 billion. Onity reported record profit of $185.4 million in 2025, up from $33.4 million in 2024. The company launched a suite of non-QM products in October, including full documentation, alternative documentation, and DSCR loans for delegated and non-delegated correspondents. For Athens agents working with self-employed buyers or investors, Onity's non-QM platform may provide financing options outside conventional underwriting. Read more
Balance Homes announced enhancements to its co-ownership program, which guides homeowners back to full ownership through structured support and financial incentives. The updates include mandatory no-cost education with a HUD-certified housing counselor, ongoing credit counseling and mortgage readiness planning, and a sliding-scale fee rebate for homeowners who buy back the company's equity share within the first three years. Homeowners can repurchase equity incrementally, reducing monthly payments as their ownership stake grows. The program was relaunched in December 2025 with $30 million in funding led by Falco Group. The company cited Federal Reserve data showing American households carry $18.8 trillion in debt and ATTOM data showing foreclosure filings increased 14% in 2025 to 367,460 properties. For Athens agents, this is a tool for clients facing financial distress who want to avoid foreclosure. The co-ownership structure provides immediate relief while setting a path to recovery through full ownership. Read more
BFC Partners signed a 10-year, 13,758-square-foot lease for an entire floor at RFR Holding's 17 State Street in Manhattan's Financial District. Asking rents at the building range from $72 to $85 per square foot. Built in 1988, 17 State Street is a 42-story boutique Class A office tower. RFR noted "record-breaking leasing velocity" driven by breathtaking views, elevated workplace experiences, bespoke prebuilt suites, and well-appointed tenant amenities. For Athens commercial agents, this signals that quality office product with differentiated amenities can still command strong pricing and attract tenants despite broader office sector stress. Read more
The leasehold market is driving greater reliance on professional property management, according to The Intermediary. For Athens landlords managing leasehold properties or complex ownership structures, this reinforces the trend toward outsourcing management as regulatory and tenant-relations complexity increases. Read more
New South Wales is launching Smart Rental Bonds to ease renters' upfront costs. While this is an Australian initiative, the concept addresses a common affordability barrier: the need for renters to produce a security deposit plus first month's rent simultaneously. For Athens property managers, this signals potential future tools to reduce upfront cash burdens that can delay or block lease execution. Read more