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Moline Retires From HomeServices of America, Five Regional Presidents Named

By Beth McGuire

Robert Moline

Robert Moline

HomeServices of America on Wednesday announced the retirement of Robert Moline, president and CEO of its real estate brokerage division, naming five regional presidents who will work to continue the network’s expansion: Candace Adams, president, Northeast Region and president and CEO of Berkshire Hathaway HomeServices New England, Westchester, and New York Properties; Mary Lee Blaylock, president, West Coast Region and president and CEO of Berkshire Hathaway HomeServices California Properties; Larry Flick IV, president, Atlantic Region and chairman and CEO of Berkshire Hathaway HomeServices Fox & Roach, REALTORS® and the Trident Group; Rosey Koberlein, president, Central Region, and CEO of Long Companies; and Greg Mason, president, Midwest Region and CEO of Edina Realty Home Services.

“Bob’s analytical, strategic, and collaborative approach, together with his deep understanding and passion for the real estate industry, has been instrumental in growing and executing the business strategies for HomeServices,” says Ron Peltier, chairman and CEO of HomeServices. “On behalf of everyone at HomeServices, we thank him for his valuable contributions, both to HomeServices and to the real estate industry overall.

Ron Peltier

Ron Peltier

“Today’s organizational announcements reflect our continued focus on our goal of delivering an exceptional customer experience and our emphasis on customer value and results,” Peltier says. “With these changes, we are well positioned to achieve our growth objectives throughout 2017 and beyond. We wish Bob well as he enjoys his retirement and congratulate Candace, Mary Lee, Larry, Rosey and Greg on their expanded roles within HomeServices.”

“I am honored to have had the opportunity to be part of HomeServices and proud to have worked with such a talented and experienced leadership team,” says Moline. “Through the years, we have accomplished a great deal and I am confident that HomeServices will continue to set the standard for innovation, excellence, and integrity in the real estate industry. I am looking forward to this next chapter to focus on my children and grandchildren, traveling, and spending time hunting, fishing, and enjoying the great outdoors.”

Moline, a 30-year veteran of the real estate industry, was president and COO of HomeServices prior to being named CEO, and formerly CEO of HomeServices of Nebraska. Moline was instrumental in bringing both the Broker Public Portal (BPP) and Upstream initiatives to fruition. He served as chairman of The Realty Alliance, on several National Association of REALTORS® (NAR) committees, including the Business Issues Committee and the MLS Committee, and on the Nebraska Real Estate Commission.

For more information, please visit www.homeservices.com.

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From:: Real Estate News

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Oil falls to lowest settlement in more than 10 months

Oil prices fell Wednesday to mark the lowest settlement for a front-month futures contract since Aug. 10, according to FactSet data. The broader trend for oil is its “steady slide” in prices, since the Organization of the Petroleum Exporting Countries in late May extended its output-cut agreement through March of next year, said Robbie Fraser, commodity analyst at Schneider Electric. “The primary factor behind that drop continues to be upward revisions to U.S. production expectations, which was once again highlighted” by a 20,000 barrel-per-day increase in the Energy Information Administration’s weekly production estimate, he said. August WTI crude lost 98 cents, or 2.3%, to settle $42.53 a barrel on the New York Mercantile Exchange.

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From:: Stock Market News

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Refi Share Thins, Conventional Metrics Strong

Refinances accounted for a smaller share of last month’s home lending. Conventional refinance share was the widest. Conventional closing rates and turn times were the best.

Conventional loans made up 63 percent of all single-family loans that were closed during May. That was moderately thinner than the 64 percent share the same month last year.

But the share of production that was for mortgages insured by the Federal Housing Administration was no different than in May 2016, when it was also 23 percent.

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From:: Financing

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Altice boosts IPO offering by 37% to raise up to $2 billion

Cable company Altice USA Inc. increased Wednesday the number of shares it will sell in its initial public offering by 37% to 63.9 million shares, to raise up to $1.98 billion, from 46.6 million shares last month. The increase comes entirely from selling shareholders, who are now selling 51.9 million shares, compared with last month’s plan to sell 34.5 million shares. The company, which acquired Cablevision last June and Suddenlink in December 2015, is still selling about 12.1 million shares in the IPO, which is still expected to price between $27 and $31 a share. The stock will be listed on the New York Stock Exchange under the ticker symbol “ATUS.”

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From:: Stock Market News

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Gold settles higher for first time in three sessions

Gold prices settled higher Wednesday for the first time in three sessions, finding support as the U.S. dollar weakened. Philadelphia Fed President Patrick Harker on Wednesday said he advocated a “pause” on rate hikes while the central bank starts to pare its balance sheet. Prices had ended Tuesday at a five-week low. August gold rose $2.30, or 0.2%, to settle at $1,245.80 an ounce.

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From:: Stock Market News

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Fed’s Harker says plan to start to shrink balance sheet could start in September

Philadelphia Fed President Patrick Harker on Wednesday said the September meeting could be a good time for the U.S. central bank to begin the process of shrinking its balance sheet. In an interview with the Financial Times, Harker stressed that no final decision had been made and negative economic data would delay the start of the program. Fed officials agreed earlier this month on details to allow a fixed amount of assets to run off the $4.5 trillion balance sheet every month. The initial cap will be set at $10 billion. The Philadelphia Fed president, who is a voting member of the Fed policy committee, said he advocated a “pause” on rate hikes while the central bank starts to pare its balance sheet.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Drug stocks surge on report that President Trump plans to ease industry regulations

The SPDR S&P Biotech ETF surged 4% and the SPDR S&P Pharmaceuticals ETF rose 2.3% in midday trade Tuesday after a New York Times report said President Donald Trump has drafted an executive order that would ease industry regulations. Several proposals in the draft come from industry or simply seem to benefit drug companies, theTimes reported, including a study of how drug prices vary by country and reconsidering trade agreements using that information. The move would be a change in tone for the president, who has previously said drug companies are “getting away with murder” and vowed to bring prices down. Still, several of Trump’s previous drug price proposals would likely only be possible through legislative action and not an executive order, the Times article noted. “The limited scope of the Trump discussions is an implicit acknowledgement that only congressional action could solve those issues (say, by rewriting Medicare Part D). Nothing of that scope will be discussed or acted upon in the executive branch,” said EvercoreISI analyst Terry Haines. “Congress would not act on any part of ACA affecting drug prices before 2018 at earliest, and even that is far from likely after the battle over ACA taxes and revenues which is pending in the Senate and is far from over.” The SPDR S&P Biotech ETF has risen 14.9% in the last month, and the SPDR S&P Pharmaceuticals ETF has surged 3.1%, compared with a 0.9% rise in the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News