Patrick Kearns
Township Valley
As seen in:
The Guardian,
Frontiers,
Rolling Stone,
Sports Illustrated,
VICE,
FOX Sports,
Yahoo,
UPROXX,
Sporting News,
Santa Barbara Independent
and
proptech comms leader. former housing/hockey/metro reporter. reach out to patrick.john.kearns at gmail
Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Patrick Kearns
Personal View: Cuyahoga County succeeds when everyone thrives
On an April morning, I was sitting inside Cuyahoga County’s new Welcome Center when two young Ukrainian fathers walked in when the doors opened at 9 a.m. They had arrived just four days earlier, displaced by the most recent escalation of the war in their homeland. County Welcome Center staff greeted the newly arrived fathers and immediately connected them with a Ukrainian translator.
Kearns And Kustic Vacate Seven-Figure Default Judgment And Then Obtain Dismissal Of Complaint With Prejudice
Patrick Kearns (Partner-San Diego) and Sarena Kustic (Of Counsel-San Diego) successfully vacated a seven-figure default judgment, and thereafter obtained a dismissal of the complaint with prejudice. The underlying case, filed in 2017, involved a claim against a hospital, a surgeon and Wilson Elser's client, a national medical air transportation provider. The plaintiff alleged she sustained injuries during surgery that were exacerbated by a delay in medical transport.
Kearns And Kustic Obtain Defense Verdict In Case Arising From Special Ops Helicopter Crash
Patrick Kearns (Partner-San Diego) and Sarena Kustic (Of Counsel–San Diego) obtained a defense verdict following a six-day jury trial in Federal Court in the Central District of Los Angeles. The case stemmed from a 2014 crash of a Sikorsky MH-60 Special Operations Helicopter flown by the United States Army's 160th SOAR Division on base at Fort Hunter, Georgia. Litigation against numerous parties were ultimately separated, and litigated in different venues around the country.
Kearns And Kustic Obtain Dismissal With Prejudice In A Premises Liability Case Against National Airline
Patrick Kearns (Partner-San Diego) and Sarena Kustic (Of Counsel-San Diego) obtained dismissal of a case with prejudice at the pleadings stage. The case involved allegations of personal injuries stemming from an employee of Wilson Elser's client, a national airline, playing with a remote control car outside the airline's hangar. The plaintiff claimed the remote control car struck his foot at a high rate of speed and caused severe injuries.
Op-Ed: Afghan neighbors in Cleveland and across U.S. need Congress to enact a path to citizenship – The Land
The Land welcomes op-ed submissions from community members; learn more here about how to submit yours for consideration. When I brought my family from Afghanistan to the United States in 2019, my son – who was 8 at the time – was confused. In Kabul, where I worked as a civil engineer after a few years helping NATO allies and the Afghan government, we had a beautiful home. We left most of what we owned behind, along with all our friends and extended family. My boy didn’t understand why.
Patrick Kearns, Author at The Land
More than 1,000 Afghans have settled in Cleveland after fleeing the Taliban takeover of Afghanistan. Only temporary protections are in place to allow the refugees to stay in the U.S., where many have built lives.
Characteristics and a comparison of the gut microbiota in two frog species at the beginning and end of hibernation
Qing Tong1,2,3*, Wen-jing Dong1, Ming-da Xu1, Zong-fu Hu2, Peng Guo2, Xiao-yun Han1 and Li-yong Cui3* 1School of Biology and Agriculture, Jiamusi University, Jiamusi, China 2College of Veterinary Medicine, Northeast Agricultural University, Harbin, China 3Hejiang Forestry Research Institute of Heilongjiang Province, Jiamusi, China Season has been suggested to contribute to variation in the gut microbiota of animals.
The influence of disease-modifying therapy on hidden disability burden in people with newly diagnosed relapsing-remitting multiple sclerosis
Diagnose und Therapie der Multiplen Sklerose, Neuromyelitis-optica-Spektrum-Erkrankungen und MOG-IgG-assoziierten Erkrankungen, S2k-Leitlinie. Deutsche Gesellschaft für Neurologie (Hrsg.) Leitlinien für Diagnostik und Therapie in der Neurologie, 2021 Al-Hussain F. Al-Salloum N. Alazwary N. Saeedi J. Howaidi S. Daif A. Depression, anxiety and stress severities in multiple sclerosis patients using injectable versus oral treatments. J Comp Eff Res.
Is there really a Great Migration happening?
"Talking about The Great Migration masks the reality of homeownership and homeownership issues in America," OJO Labs CEO and Founder John Berkowitz said. "The reality is that people are moving in the same way they always have been, and the talk of the Great Migration shows the separation of reality in how we focus more on the rich, and the middle and lower classes are often forgotten."
San Diego passes San Francisco as nation’s least affordable metro
Home prices rose 14.3% in San Diego year over year By Patrick Kearns | Feb 3, 2022 View full list San Francisco is no longer the nation’s least affordable metro area, being surpassed by San Diego, it’s neighborhood to the south. The latest OJO Labs unaffordability report saw San Diego bypass both San Francisco and Los Angeles to become the nation’s least affordable metro by comparing median home price to local incomes.
After Failing To Go Public In 2019, WeWork Set To Try Again Via SPAC
The SPAC merger will reportedly value the combined company at $9 billion, far below the $47 billion it was valued at two years ago. WeWork announced Friday it was set to merge with BowX Acquisition Corp, a special purpose acquisition company (SPAC) that will take the embattled co-working startup public. The deal will give WeWork an infusion of $1.3 billion in cash and pegs it at an enterprise value of $9 billion.
RE/MAX Exec On Shifting Market: ‘Have A Savings Account’
Chief Customer Officer Nick Bailey also warned agents that there are no “get rich quick schemes” in real estate at the company’s R4 event. The back end of the COVID-19 pandemic has been marked by soaring home sales, rapid price appreciation, a glut of inventory and historically low mortgage rates.
Notarize raises $130M after year of huge growth
Over the past 12 months, revenue from the company’s remote online notarization platform has grown 600 percent. Notarize is capping 12 months of massive growth with a new $130 million Series D funding round, the remote online notarization firm announced Thursday. The funding comes on the heels of a year in which the firm saw a year-over-year revenue increase of 600 percent.
Up, up and away: Mortgage rates continue upward tick
The average for a 30-year, fixed-rate mortgage hit 3.17 percent this week, the highest level since June, according to data released Thursday by Freddie Mac. Mortgage rates are continuing to rise this week, with the average rate for a 30-year, fixed-rate mortgage hitting 3.17 percent, just highest level since June, according to data released Thursday by Freddie Mac.
5 People To Watch At Zillow As The Company Moves Towards Zillow 2.0
Zillow has spent the past three years completely transforming itself as a company, investing heavily in the growth of its Zillow Offers business, a key cog in the creation of a more frictionless real estate transaction.
RE/MAX debuts new data company
RE/MAX CEO Adam Contos unveiled the new company, G73, and revealed the brokerage’s evolving data strategy Wednesday at its annual R4 convention in Orlando. RE/MAX has spent the past three years forging relationships with hundreds of multiple listing services and scraping and cleaning data — all while quietly building a new data company, it was revealed Wednesday by CEO Adam Contos at the brokerage’s annual R4 convention in Orlando.
Pacaso raises $75M and soars to unicorn valuation
The co-ownership startup for second homes also raised $1 billion in debt funding and has big expansion plans. Pacaso, a real estate startup that aims to create co-ownership opportunities for second homes, revealed Wednesday it has raised $75 million in equity funding and an additional $1 billion in debt funding. The company, which is backed by Zillow alums Austin Allison and Spencer Rascoff, further revealed the new funding round helped the company reach unicorn valuation of more than $1 billion.
Compass IPO will price shares between $23 and $26
The real estate brokerage and tech company is eyeing a $10 billion valuation as it gets ready to go public. Compass is eyeing a $10 billion valuation with initial share prices between $23 and $26 for its initial public offering, the company revealed in an amended S-1 filing with the U.S. Securities and Exchange Commission on Tuesday.
T3 Sixty's Annual List Of Top Tech Vendors Reveals Industry Consolidation
A total of 15 companies from the 2020 list were acquired prior to the publication of the 2021 list. A wave of consolidation hit the real estate technology vendor space in 2020, T3 Sixty’s annual ranking of the nation’s biggest and best technology revealed Tuesday. A total of 15 entrants from the 2020 Tech 500 were acquired prior to the publication of the annual list.
Orchard adds concierge service to existing platform
The service allows homeowners to make repairs and upgrade at no upfront cost, before they list on the market. New York City-based real estate technology and alternative finance company Orchard announced Tuesday the launch of a new concierge service that allows home sellers to make upgrades and repairs to their homes at no upfront cost, before listing the home on the market.
Rocket exec dishes on mortgage trends and beef with UWM
This month, we’ll talk to mortgage leaders about where the market is headed and how products are evolving digitally to suit buyers’ needs now. We’ll also explore emerging alternative financing options that are changing the game for buyers and sellers. Join us for Mortgage and Alternative Financing Month. Bob Walters, the president and chief operating officer of Rocket Companies, has been through just about everything you can imagine in the mortgage industry.
Rising rates and low inventory cause home sales to plummet
Existing-home sales were down 6.6 percent from January to February, according to data released Monday from the National Association of Realtors. Existing-home sales dropped 6.6 percent from January to February, as inventory remains at historic lows, prices continue to soar across the country and mortgage rates continue to march upward on a weekly basis.
Side raises $150M, hits unicorn valuation
The real estate brokerage startup plans to use the infusion of cash to fuel its expansion. Real estate brokerage and technology company Side announced Monday it raised $150 million, putting the company at a valuation of more than $1 billion, making it the latest real estate technology unicorn. The company plans to use the funding to fuel expansion.
Washington to revoke the license of Compass' closing service
Modus, the closing services software company, allegedly violated state statutes over co-branding, social media advertising and mechanisms it used to lure clients.
Mortgage rates continued to climb this week
The average rate for a 30-year fixed-rate mortgage climbed to 3.09 percent for the week ending March 18, an increase from the 3.01 percent it averaged last week and a sign that rates are continuing to inch up. The increase is cutting further into home affordability as prices boom.
How the marriage between Rascoff and Offerpad came to be
Offerpad had a number of paths to go public, including interest from multiple special purpose acquisition companies or an initial public offering, Offerpad CEO Brian Bair told Inman on Thursday. Brian Bair | Photo credit: Offerpad And Spencer Rascoff could have merged his special purpose acquisition company, or SPAC, with a company outside of real estate. Instead, the former co-founder and CEO of Zillow decided directly compete with his old company.
Spencer Rascoff's SPAC is taking Offerpad public
One of the nation’s largest iBuyers is going public with the help of a former rival executive. Offerpad is set to go public via a merger with a special purpose acquisition company, following the same method by which Opendoor, a top iBuying rival went public late last year. Only Offerpad is set to do so via a merger with a SPAC started by Spencer Rascoff, the former CEO and co-founder of Zillow, another top iBuying rival.
IRS pushes tax filing deadline back to May 17
The United States Internal Revenue Service (IRS) is expected to announce Thursday that it’s pushing the deadline to file taxes back until May 17 to provide Americans greater flexibility as the nation continues its recovery from the economic toll of COVID-19.
How High Exactly Are Compass' Agent Commission Splits?
Compass has “Berkshire Hathaway’s cost structure and eXp’s revenue structure” an industry source told Inman. As Compass prepares to go public, its agent and company economics are starting to come more into focus. The company is reporting huge top-line revenue growth but at the same time its reporting big losses. But one thing that’s still not exactly clear is just how much the company’s aggressive attempts to lure agents are contributing to Compass’ bottom line.
Rising rates are slowing home construction
Housing starts plummeted in February as interest rates and lumber costs soared. Housing starts plummeted in February on the back of rising interest rates, soaring lumber costs and harsh weather that impacted the middle of the country, economists said Wednesday.
Why Century 21 isn't building an 'end-to-end' platform
Today’s the day: Join us for Inman Connect Now today to dig into key topics like relationship strategies, current and future trends, lead generation, and much more. Register now to watch the rest of the day live, and catch up on what you missed on-demand. Century 21 is celebrating its 50th anniversary as a real estate brand in 2021 and in those five decades, the company has learned a lot of lessons, CEO Mike Miedler said Tuesday during the general session of Inman Connect Now.
Offerpad Brings IBuyer, Listing Solutions To Denver And Nashville
With the expansion the real estate services company is bringing its offering to nearly 300 new ZIP codes. Offerpad announced Monday it’s launching its entire suite of real estate services — which includes an iBuying and listing services option — in both Denver and Nashville, two of the nation’s hottest and most competitive housing markets.
Compass launches new listing presentation tools
The company’s S-1 filing emphasized its agent-facing tools as it prepares to go public. Compass announced Thursday the launch of new listing presentation templates as part of the company’s proprietary marketing center tool for agents. The new product comes as the company prepares to go public and is using its ability to build agent-facing tools in its pitch to prospective investors.
EXp's Earnings Confirm The Most Profitable Year In Company History
The parent company of the virtual cloud brokerage eXp Realty posted a net income of more than $31 million in 2020, according to earnings issued on Thursday. EXp World Holdings posted its most profitable year in company history in 2020, on the back of a hot housing marketing and a boom in virtual work and events that propped up its virtual world subsidiary.
What does the $1.9T stimulus bill mean for real estate?
More direct checks, rental assistance and expanded unemployment are all included in the massive $1.9 trillion relief package. The U.S. House of Representatives passed the $1.9 trillion American Rescue Plan that includes, among other provisions, a continued expansion of unemployment as well as more direct stimulus checks and a number of housing protections.
HomeSmart acquires PalmerHouse Properties
The deal adds another 2,000 agents and six states to the company’s own-side brokerage business. HomeSmart is set to acquire PalmerHouse Properties, an Atlanta-based brokerage with more than 2,000 agents in six new markets for HomeSmart. The terms of the acquisition were not disclosed.
REX takes aim at Zillow with new lawsuit
REX alleges Zillow’s shift to IDX feed is “driving consumers away from REX.” After working with the Department of Justice (DOJ) in its lawsuit against the National Association of Realtors (NAR) and suing the state of Oregon, discount real estate brokerage REX has set its sights on Zillow. The company filed Tuesday an anti-trust lawsuit against Zillow, Trulia and NAR.
Realogy's learning platform goes mobile
The company built branded apps for each of its properties to be seamlessly integrated with Realogy’s revamped agent education platform, so agents can access all of the learning platform’s features on the go. Realogy, in 2020, completely revamped its agent and broker-facing education platform to help its affiliates “rule the recovery.” Now with the housing market blazing, the company is bringing that same platform directly to agents’ phones and tablets via branded mobile apps.
News Corp CEO: We'll leave the 'unkempt gardens' to Zillow
“Our aim is to be a genuine digital marketplace, not to have any vested interest that might complicate that,” News Corp CEO Robert Thomson said at Morgan Stanley’s virtual conference. “As you know, with house flipping, Zillow is renovating homes.” Realtor.com doesn’t want to follow the path that is being blazed by rival Zillow, despite the latter being the market-leading real estate search portal.
Construction And Real Estate Employment Fall In February Jobs Report
Construction employment declined by 61,000 as the real estate industry yearns for more housing. The U.S. unemployment rate stayed steady at 6.2 percent in February, with total nonfarm payrolls rising only 379,000. Job gains came mostly in leisure and hospitality as the COVID-19 vaccine becomes more available, but the construction sector suffered at a time when the real estate industry is suffering through historically low inventory.
Opendoor reveals ambitious expansion plans
The company wants to double its total markets in 2021, but is eyeing a much bigger goal. Opendoor revealed ambitious short- and long-term expansion plans during its first investor earnings call since becoming a publicly-traded company.
Full Impact Of COVID-19 Revealed In Opendoor's First Earnings Report
In its first earnings report since going public, Opendoor posted a net loss of $286 million in 2020 and $87 million in the fourth quarter alone. In its first earnings report since becoming a publicly-traded company in December, Opendoor beat revenue expectations, posting $248 million in revenue, ahead of the $220 million that was expected by analysts.
CoStar will pay RentPath $58M for scuttled deal
After the FTC spiked CoStar’s attempted acquisition of RentPath, Redfin stepped in to buy the embattled operator of rental marketplaces. CoStar Group and RentPath reached a settlement today that would pay RentPath $52 million — or 88 percent of the proposed break-up fee — as a result of CoStar’s failed acquisition attempt of RentPath. The deal comes months after the FTC spiked CoStar’s attempt to acquire RentPath for $587.5 million.
Just how impressive is Compass' $3.7B 2020 revenue?
The company revealed yearly revenue numbers that would make most real estate companies green with envy. But not top rival Realogy. Compass revealed massive revenue numbers in its S-1 filing, with yearly revenue topping $3.7 billion in 2020, as well as a massive loss of $270 million. Despite the existence of several public companies in the residential real estate space, it’s hard to find a direct comparison for Compass given the variety of business models between companies.
Gary Keller Admits To ‘Losing War’ To Bugs, Vows To Pause New Features
Gary Keller said the company will begin a “66-day challenge of locking down stabilization” of its core technology platform, including its customer relationship management tool Command.
Here's what Compass paid for its biggest acquisitions
Compass’ S-1 filing includes details on acquisitions dating back to the headline-grabbing 2018 purchase of Pacific Union International. Compass spent much of 2018 and 2019 growing through headline-grabbing acquisitions, the details of which had been scarce with the company’s status as a privately held firm. But as the company prepares to go public and lays its financials bare, for the first time, it’s revealing what it paid for some of its biggest acquisitions.
EXp World Holdings' boom period continues
As the world worked from home in 2020, the parent company of the virtual cloud-based brokerage saw revenue grow 84 percent. EXp World Holdings, the parent company of the virtual cloud real estate brokerage eXp Realty, saw revenue and growth continue to explode in 2020, according to preliminary, unaudited earnings numbers the company released nine days ahead of its actual earnings release.
READ: Robert Reffkin's Letter Announcing Compass' Public Debut
“I started Compass because of my mom, Ruth,” the CEO of the soon-to-be-public firm wrote in an SEC filing. Compass gave the general public its first peek behind the curtains Monday as it prepares to become a publicly-traded company. In the disclosures, the company made to the U.S. Securities and Exchange Commission it revealed revenue of $3.7 billion and a net loss of $270.2 million.
Compass S-1 filing reveals $3.7B in revenue in 2020
The company also posted a net loss of $270.2M in 2020, according to the filing. New York City-based real estate brokerage Compass filed its S-1 document with the U.S. Securities and Exchange Commission Monday that gave the general public the first look at the growing company’s financial details and business plan.
CoStar ups its bid for attempted CoreLogic acquisition
CoStar CEO Andy Florance believes the CoreLogic board will deem its offer “superior” to a winning joint bid by Stone Point Capital and Insight Partners within 48 hours. CoStar Group is continuing its aggressive pursuit of CoreLogic, upping its bid price to acquire the real estate analytics company by $6 per share, or an additional $450 million.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Patrick
Contact Patrick, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack