February 2022 – Page 3

WORD OF THE DAY: Inglenook

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[ING-ɡəl-nook] Part of speech: Noun Origin: Scottish, late 18th century Definition: A space on either side of a large fireplace Examples of Inglenook in a sentence “The central feature of the living room was the inglenook.” “Some historical homes have inglenook fireplaces tucked under a grand staircase.” About Inglenook This word originates from “ingle,” perhaps from the Scottish Gaelic “aingeal” meaning “light, fire,” Irish aingeal “live ember.” “Nook” is from Middle English and refers to a “corner or fragment.” Did you Know? Inglenooks originated as a partially enclosed hearth area that was part of a larger room. The hearth was used to cook food, and the alcove became a natural gathering place to seek warmth. American architects like Henry Hobson Richardson and Frank Lloyd Wright often incorporated inglenooks into their designs.

Entera Welcomes Chief People Officer, Jeffrey Belanger and SVP of Growth, Alejandro Guerrero

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Entera, the leading platform for single-family real estate investors, announced the appointment of Jeffrey Belanger as Chief People Officer (“CPO”), and Alejandro Guerrero as the Senior Vice President of Growth to Entera’s executive leadership team. In their roles, Belanger will be responsible for all aspects of Entera’s human resource strategies and Guerrero will take a leading role in scaling and executing Entera’s next phase of growth. Belanger brings over three decades of human resource leadership experience where he scaled and led global teams at both publicly and privately held companies. He comes to Entera with a long history of success in designing and implementing holistic people strategies that supported business priorities at fast-growing organizations. Belanger started his career as a strategy consultant at PwC focused on learning and development and organizational effectiveness, then transitioned in-house to lead the building of HR infrastructures that helped accelerate companies including Pandora Media, IPG/Mediabrands, Organic/Omnicom, Kenexa (formerly Salary.com), and most recently Semrush and Buildium. As the CPO, Belanger will lead all aspects of human resources and drive Entera’s mission to be the destination for top talent in the proptech industry. Entera also welcomes the appointment of Guerrero as the Senior Vice President of Growth. Leveraging over 25 years of experience in enterprise software sales, finance, and general management, Guerrero brings a significant track record of delivering transformational success across early stage technology startups and global software companies. Prior to joining Entera, Guerrero held leadership roles across companies like American Management Systems, CGI, GT Nexus, First Data, and most recently Infor. In his role, Guerrero will focus on transforming Entera’s entire customer life cycle and service level across all business units to extend Entera’s industry leadership and support Entera’s growth trajectory. Martin Kay, Chief Executive Officer of Entera, said, “I’m delighted to welcome Jeff to the Entera team. His unique background, combined with his proven ability to foster a high performance culture rooted in a diverse and inclusive work environment, will support Entera’s ambitious growth strategy.” Martin continued, “We are also very excited to add Alejandro to the Entera team. He is known for his strategic leadership in driving an unwavering focus on customer-centric innovation across all business units within enterprise software companies. Alejandro will join Entera’s leadership team in driving the overall company strategy focused specifically on attracting and retaining customers while identifying new pathways for growth.” The addition of these two experienced operators comes at the heels of a transformational year in Entera’s company history. In 2021, Entera’s software platform empowered 6,000 unique buyers and sellers to transact on $2 Billion in residential real estate, registering nearly 10x growth from the previous year. With a market footprint in 24 markets across 17 states, Entera is rapidly expanding its talent pool to continue its unparalleled growth in 2022. About Entera Entera is a leading real estate technology company operating a full service SaaS platform coupled with a team of local real estate experts and a network of services providers for single family investors to make intelligent decisions, scale their operations, and maximize returns with 100% control. Many of the largest real estate investors in the world use Entera daily to find, buy and operate single family homes across 24 markets. The company is headquartered in New York City, New York and Houston, Texas. For more information visit us at www.entera.ai

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More Investors Paying with Cash, But Pricing Discounts Decline Real estateinvestor purchases accounted for 16.4% of all home purchases nationally in Q3 2021 compared with 11.7% in Q3 2020, a year-over-year increase of just over 40 percent, according to the RealtyTrac® Investor Purchase Report. The report measures the share of all single-family home sales purchased by investors, the average price discount of investor-purchased properties, and the share of all-cash sales. Investors purchase single-family homes in order to fix and flip the properties, or convert them into long-term rentals. The increase in investor purchase activity was national in scope – all but five states saw increases in the percentage of investor purchases among all home sales from Q3 2020 to Q3 2021. Alaska, Delaware, Iowa, Nebraska and Vermont were the only states to show a decrease in real estate investor purchases during that period. “The share of investor purchases continues to rise in the vast majority of states,” said RealtyTrac Executive Vice President Rick Sharga. “Despite historically low inventory of homes for sale, and historically high prices, both fix-and-flip and rental property investors continue to be very active in the residential market.” Investor Purchase Share for Q3 2021 Top Ten States with Highest RE Investor Purchase Share Q3 2021 Investor Purchase Share Arizona 26.6% Georgia 25.2% Arkansas 23.5% Florida 23.1% Mississippi 22.7% Nevada 22.1% North Carolina 21.8% New Hampshire 21.2% Missouri 19.7% Delaware 18.5% Top Ten States with Lowest RE Investor Purchase Share Q3 2021 Investor Purchase Share Vermont 0.5% Alaska 1.3% South Dakota 7.1% New Mexico 7.4% Montana 8.1% Idaho 8.3% Wyoming 8.5% Oregon 9.0% West Virginia 9.5% Washington 9.7% Source: ATTOM Data Solutions, RealtyTrac analysis The RealtyTrac report, citing home sales data from ATTOM Data Solutions, also shows that investors across the country paid an average of 18.9% less than the overall median sale price in Q3 2021, with a median purchase price of $245,000 for investors compared to $302,000 for all home purchases. This average price discount is significantly lower than the discount in Q2 2021 when investors paid an average of 29.4% less. The states with the highest average price discounts for investor properties as of Q3 2021 include: Arkansas: 76.7% discount West Virginia: 60.0% discount Michigan: 59.5% discount Louisiana: 51.5% discount Delaware: 47.9% discount Investors continue to pay with cash in a majority of cases, with the share of all-cash purchases among investors increasing. In Q3 2021, 79.0% of all investor purchases were cash sales compared with 69.5% in Q3 2020, a year-over-year increase of 9.5 percentage points. Cash purchases accounted for more than 50% of all investor purchases in every state, other than Alaska, Wyoming and the District of Columbia. “As mortgage rates rise, investors benefit even more by being able to execute all-cash purchases,” Sharga noted. “Rising home prices and inflation make it difficult for investors to achieve their ROI objectives, but they make it even harder for the average consumer to afford to buy a property. So even though investor profit margins may be declining, it’s possible that we’ll continue to see the investor share of purchases increase over the next few quarters.” Full state-level data is available in the Winter 2022 RealtyTrac Investor Purchase Report. About RealtyTrac Founded in 1996, RealtyTrac publishes the largest database of foreclosure property information in the U.S. along with other real estate and mortgage data used by real estate investors and professionals to find, analyze and purchase residential and commercial distressed properties. RealtyTrac is owned and operated by ATTOM Data Solutions, a leading provider of publicly recorded tax, deed, mortgage and foreclosure data as well as proprietary neighborhood and parcel-level risk data for more than 150 million U.S. properties. For more information, visit www.RealtyTrac.com. Contacts Alyson Austinalyson@gaffneyaustin.com949-403-0484 Lori Guytonlori@gaffneyaustin.com901-277-6066

Word of the day: Equable

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[EK-wə-bl] Part of speech: Adjective Origin: Latin, mid-17th century Definitions: 1. (of a person) Not easily disturbed or angered; calm and even-tempered. 2. Not varying or fluctuating greatly. Examples of Equable in a sentence “Dad is easier to bargain with because of his equable personality.” “The sea was equable and glassy, with not a single wave in sight.” About Equable Equable’s modern definition of “fair and equitable” comes from the Latin words “aequabilis” and “aequare” (make equal). Did you Know? If the continual temperature fluctuation in a climate with four seasons seems rough to handle, it might be time to seek out an equable climate. An equable climate is one that has very little temperature variation. Some parts of Florida and California, for example, largely experience the same temperatures throughout the year, making them popular destinations for retirees and snowbirds.

Word of the Day: Tête-à-tête

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[ted-ə-TET] Part of speech: Noun Origin: French, late 17th century Definitions: 1. A private conversation between two people. 2. An S-shaped sofa on which two people can sit face to face. Examples of Tête-à-tête in a sentence “The world leaders had a private tête-à-tête before the press conference.” “The 20-somethings sat on the tête-à-tête and continued to flirt.” About Tête-à-tête This word comes directly from the French, literally meaning “head-to-head.” Originates from the Old French “teste,” meaning “head.” Did you Know? The courting bench and the gossip’s chair are just two of the monikers given to the tête-à-tête couch. They were extremely popular in Victorian-era upper-class homes — perhaps because Victorians were so conservative about the courting process. The sofa’s unique design allowed blossoming couples to sit close without ever touching.

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Company investment broadens opportunity and choice in the overall housing market Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) announced it has committed to providing $250 million of equity capital to launch Pathway Homes (“Pathway”), a new real estate company that provides unique housing solutions that address critical needs in the U.S. residential sector. Pathway works directly with customers to identify and purchase a home, offering them the opportunity to first lease and then buy the home outright at a future date. In addition to investing in the homes and technology platform for the startup and its real estate fund, Invitation Homes will provide maintenance and other services to all Pathway homes, enabling the Company to broaden its third-party property management services. “Our investment in Pathway is part of our vision to provide opportunity and choice in the overall housing market,” said Dallas Tanner, President & CEO of Invitation Homes. “We saw an opportunity a decade ago to revolutionize the home rental industry and, now more than ever, believe that the single-family rental model is an advantage for the growing share of Americans who are opting not to buy a house. Now, with this innovative solution, we once again expand available housing choices and open the door to homeownership for millions of people who want to own a home.” Pathway was launched by Invitation Homes, Regis Group and Fifth Wall with the intention of primarily serving first-time homebuyers that may not have access to traditional avenues to home ownership. For more information on Pathway or to get pre-qualified, visit www.yourpathway.com. About Invitation Homes Invitation Homes is the nation’s premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The Company’s mission, “Together with you, we make a house a home,” reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents’ living experiences. About Regis Group For more than 40 years, Regis has been a leading real estate private equity investor and operator with more than $20 billion of investments across national real estate platforms in the U.S. and the U.K. Regis has a demonstrated track record of success in identifying unmet customer needs and establishing national, institutionally-managed platforms to provide high quality real estate solutions at scale. Regis focuses on creating long-term, durable businesses and its proven strategies combine a deep customer focus, operational expertise, technological innovation and capital markets experience. About Fifth Wall Founded in 2016, Fifth Wall, a Certified B Corporation, is the largest venture capital firm focused on technology-driven innovation for the global real estate industry. With approximately $3.0 billion in commitments and capital under management, Fifth Wall connects many of the world’s largest owners and operators of real estate with the entrepreneurs who are redefining the future of the Built World. Fifth Wall is backed by a global mix of more than 90 strategic investors from more than 15 countries. Fifth Wall believes this strategic corporate consortium represents one of the largest groups of potential partners in the global Built World ecosystem, which can result in game-changing investments and collaborations in promising portfolio companies in retail, residential and multi-family, commercial, industrial, hospitality, and more. For more information about Fifth Wall, its partners, and portfolio, visit www.fifthwall.com.