Toby Morton Launches Controversial Website, ENRG Realty Launches in Four States, Promising Innovation and Agent Support, U.S. Rents Dip Below $1,700 Amid Surging Supply

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Toby Morton Launches Controversial Website

Toby Morton, the writer and voice actor behind South Park and MADtv, is making headlines after launching a controversial website aimed at calling out profiteers during the LA wildfires.

Last Friday, Morton launched VultureRealtors.com, inviting people to report those he claims are taking advantage of the disaster by price gouging home prices and rentals for those displaced by the fires. On the website’s homepage, Morton states, “This website will be listing those who have taken advantage of the wildfire disaster by price gouging home prices and rentals for those who are homeless and in need of shelter.”

However, the site quickly ran into legal trouble. Over the weekend, Morton was forced to change the domain name after receiving backlash from the realtor community. The use of the word “Realtor” is trademarked by the National Association of Realtors, and while they did not directly challenge him, the real estate industry raised concerns over the name. Morton rebranded the site to VultureProperty.com to avoid legal issues.

While the site has drawn both support and criticism, Morton says he plans to continue exposing alleged profiteers from the disaster.

Source: Link

ENRG Realty Launches in Four States

ENRG Realty, a new revenue model brokerage, founded by industry veterans Peter and Erinn Nobel, has announced today that they have officially launched in Texas, Florida, Ohio, and Washington State. 

“At ENRG Realty, belonging and mutual respect are the foundation of our culture,” said Erinn Nobel, Co-Founder and President. “We attract exceptional people with great energy and lead with kindness, inclusion, and integrity.”

ENRG Realty says they are committed to providing agents with the resources and support they need to succeed in today’s competitive market. Offering a unique blend of cutting-edge technology, comprehensive training, and a collaborative environment, the brokerage prioritizes quality over quantity, ensuring each agent gets a high-touch, high-value experience.

Source: Link

U.S. Rents Dip Below $1,700 Amid Surging Supply

The rental market continues to show signs of cooling, according to the latest Realtor.com® December Rental Report. For the 17th consecutive month, rents have dropped, falling by 1.1% year-over-year to a median of $1,695. This marks the first time since April 2022 that the national median asking rent has dipped below $1,700, as new construction outpaces rental demand across the country.

Danielle Hale, Chief Economist at Realtor.com®, explained, “We’re seeing the benefits of a surge in multi-family housing starts from 2023, but as construction slows, we anticipate more balance in the rental market ahead.” This shift signals the end of the pandemic-era rental spikes, providing some relief for renters.

With an influx of new rental supply, the market is moving closer to balance. The nationwide absorption rate, or the percentage of newly built rental units leased within three months, has returned to pre-pandemic levels of 55%. However, the demand for affordable rentals remains stronger, with absorption rates higher for more affordable units compared to pricier options.

Regionally, the Northeast is experiencing a rise in absorption rates, with cities like New York seeing rent growth, while the West sees declines, particularly in markets like Denver and San Francisco.

Source: Link

 

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