Housing Market Sees Increase in Flips in 2016

first_img Related Articles Share Save Subscribe Home / Daily Dose / Housing Market Sees Increase in Flips in 2016 January 25, 2017 2,151 Views Previous: LRES’ New Offerings Brought Substantial Growth in 2016 Next: PathSoftware and MGIC Announce Integration Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Housing Market Sees Increase in Flips in 2016 About Author: Timothy McNally The continual rise in the prices of homes over the past few years has been accompanied by an increase in the number of homes that are flipped for a profit. Real estate research firm Trulia released data showing the number of homes flipped in respect to the total number of homes sold is the highest it has been since 2006.Trulia classifies flipped homes as those that were sold twice within a year. As such, flipped homes made up 6.1 percent of all home sales in 2016, slightly below the previous high of 7.3 percent encountered in 2006.“We think the recent rise in flipping in the U.S. is reflective of investors improving the housing stock, which is good news for those looking to move into a turn-key home in a low-inventory environment,” stated Trulia Chief Economist Ralph McLaughlin. “On the other hand, homebuyers looking to add sweat equity to a home are going to be increasingly challenged by new competition in the market from flipper-investors.”Flipped homes accounted for 10.5 percent of the total amount of all homes sold in Las Vegas, Nevada, which marks it as the region with the highest percentage of homes being flipping relative to the total number of homes sold in the area. Detroit Michigan had the largest year-over-year improvement for house flipping activities, rising from 1.2 percent to 6.0 percent in 2016.Rising home prices give investors a better chance of turning a profit even if the costs of flipping the home surpasses the expected budget. Trulia’s data shows a considerable correlation between the number of homes which are flipped for a profit and the overall increase in home prices.There are concerns that the rise in the amount of homes flipped too closely resembles the respective increase seen leading up to the 2008 financial crisis. However, as Trulia notes, the concerns are only valid if the investors who are flipping the homes are not actually improving the homes before selling them. In other words, it is a bad sign if investors are simply purchasing homes, waiting for home prices to rise, and then selling those homes at a profit without adding any real value.However, Trulia notes that investors filed permits to begin improvements on 11.6 percent of the homes that were flipped in Las Vegas.  This indicates that at least some investors who flipped homes are motivated by a desire to improve the household instead of simply waiting to sell them at higher prices. As the report keenly notes towards the end of the article, “there’s not much reason to flip out over the recent uptick in house flipping.”To view Trulia’s full report, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Flipped Homes Housing Market 2017-01-25 Timothy McNally in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Flipped Homes Housing Market Demand Propels Home Prices Upward 2 days agolast_img read more

KBRA: Don’t Remove Government Backing from Mortgages

first_img Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Previous: Now That a Real-Estate Developer is President-Elect . . . Next: Confidence in the Economy is Surging Share Save in Daily Dose, Featured, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: GSEs Housing Finance Reform Kroll Bond Ratings Agency Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / KBRA: Don’t Remove Government Backing from Mortgages Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img  Print This Post GSEs Housing Finance Reform Kroll Bond Ratings Agency 2017-01-10 Brian Honea The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago KBRA: Don’t Remove Government Backing from Mortgages Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Nearly every stakeholder on both sides of the political aisle agrees that the government’s eight-years-long-and-counting conservatorship of Fannie Mae and Freddie Mac should end. They just can’t agree on how it should end.Various theories exist as to the best way to end the conservatorship. Many papers have been published on the topic, and several legislative actions have been proposed in the last few years, though none have gained any significant headway.One school of thought says that privatizing the GSEs would be the best answer, suggested by Treasury Secretary Nominee Steve Mnuchin; another says that the best solution is to liquidate them, as suggested by House Financial Services Committee Chairman Jeb Hensarling (R-Texas). Some have called for the GSEs to be recapitalized and released from conservatorship.Kroll Bond Ratings Agency (KBRA) in a new paper titled “Housing Reform 2017: Can the GSEs Be Privatized?” contends that government backing of securities issued by the GSEs is essential for the existence of a forward “to be announced” market which reduces lenders’ interest rate risk and consumers’ costs.“The privatization of the GSEs implies, in the short term at least, a significant decrease in the financing available to the U.S. housing market,” KBRA Senior Managing Director Christopher Whalen wrote. “In the absence of a TBA market, no coupon would be high enough to support the entire range of demand for mortgage finance, only pockets of higher quality loans as with the jumbo mortgage market today.”The mortgage market in the U.S. is worth approximately $10 trillion, about half of which is held by large commercial banks. Non-banks account for the rest, but they would be marginalized without a TBA market to hedge interest rate risk, according to KBRA.“While privatization may seem desirable in terms of protecting taxpayers, the functional reality is that the GSEs today perform functions that the private markets are unwilling to provide, at least at current levels of mortgage interest rates and equity returns,” Whalen said. “[T]he GSEs take market and credit risk that private investors have so far been unwilling to bear. With respect to the credit risk, today there is no significant market for taking first loss risk on single family mortgages other than prime loans held in portfolio on the balance sheets of depository institutions.”KBRA contends that if the GSEs are privatized, non-banks would be unable to fund the production of residential mortgage loans unless the U.S. adopted the mortgage model used in Denmark, which featurs 100 percent variable rate notes.Unless the U.S. moved to the Danish model with 100% variable rate notes, no nonbank could fund the production of home mortgages efficiently and commercial banks are unlikely to pick up the slack for the reasons discussed above. If non-banks are removed from the mortgage loan equation, commercial banks would be unlikely to move in and take their market share, according to KBRA.Click here to view the complete paper from KBRA. January 10, 2017 1,406 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Improving Homeownership

first_img in Daily Dose, Featured, News About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Share Save Improving Homeownership The Best Markets For Residential Property Investors 2 days ago  Print This Post From initiatives to push regulations and legislation that addresses the problem of vacant and abandoned properties, to the latest housing trends and what is being done to improve homeownership, Ray Barbone, EVP, BankUnited, spoke with DS News on the hot topics that are impacting the housing industry today.Watch this video to see what Barbone had to say. Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago November 7, 2018 1,003 Views Tagged with: Bank United Diversity Homeownership Inclusion NMSAcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Yeas and Nays on Housing Legislation Next: Race for HQ2 Tightens Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Improving Homeownership Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Bank United Diversity Homeownership Inclusion NMSA 2018-11-07 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

Home Values Cooling Off

first_imgHome / Daily Dose / Home Values Cooling Off  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. About Author: Krista Franks Brock Home Values Cooling Off January 24, 2019 1,598 Views Related Articles Previous: Flagstar Introduces Updated LOS Next: Data Breach Puts Homeowners at Risk Home Values Housing Inventory Housing Markets Zillow Real Estate Market Report 2019-01-24 Krista Franks Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago While home value appreciation in some of the hottest housing markets is beginning to decelerate, some of the nation’s more affordable markets, especially in the South, are picking up speed, according to the December Zillow Real Estate Market Report, released Thursday.San Jose, California, and Seattle, Washington, have hit the brakes harder than any other major market, while Atlanta, Georgia, pulled ahead.Home value appreciation in San Jose slowed from 16.8 percent in December 2017 to 9.9 percent in December 2018. In Seattle, home values grew at a pace of 12.4 percent in December 2017 and slowed to a rate of 5.0 percent in December 2018.On the other hand, home values in Atlanta accelerated from 8.1 percent in December 2017 to 13.2 percent in December 2018.Seven markets experienced double-digit rent growth in December with Atlanta leading the pack. Atlanta was followed by Las Vegas, Nevada; Indianapolis, Indiana; Dallas, Texas; Charlotte, North Carolina; Tampa, Florida; and Kansas City, Missouri.Outliers aside, national home value appreciation “seems stabilized at an arguably aggressive pace,” according to Skylar Olsen, Director of Economic Research and Outreach at Zillow.Nationally, home values rose 7.6 percent over the year in December, similar to the previous year’s 7.4 percent growth. The national median home value as of December was $223,900.Olsen clarified, “The exceptions to the rule are the metros that saw the fastest appreciation over the past few years, where home values far outpaced incomes.”In total, home value appreciation slowed down in 19 of the 35 largest markets in December, according to Zillow.Rents also increased in December, rising at their fastest rate since June. The national median rent in December was $1,460, up 1.4 percent from a year ago.The largest increase in rents took place in Orlando, Florida, where rents rose 6.4 percent over the year. Riverside, California, followed with a 5.3 percent increase in rents.While overall home prices continued their upward trajectory, housing inventory backpedaled. After three months of growth, inventory retracted 0.4 percent on an annual basis in December, which according to Olsen is an indication to buyers “that the pendulum hasn’t fully swing in their favor for this year’s home shopping season.”Despite the national contraction, Zillow noted that a few markets “that were starved for homes for sale are seeing big gains, led by San Jose (up 47.6 percent), Seattle (up 32.9 percent) and San Diego (up 32.2 percent).” The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Home Values Housing Inventory Housing Markets Zillow Real Estate Market Report Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Where Each Presidential Candidate Stands on Housing

first_img Previous: FHFA Adjusts Deadline for Purchase of Qualified Loans Next: Study: Minority Rental Investors More Likely to Struggle  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago With election day looming, the Chief Economist and VP at LendingTree, Tendayi Kapfidze, published a detailed list of the presidential candidates’ stances and actions as they relate to housing issues.”Although housing isn’t one of the hottest topics on the campaign trail, the outcome of the election could have a profound impact on the housing market,” Kapfidze wrote. “President Donald Trump, the Republican incumbent, hasn’t laid out any detailed, forward-looking proposals for housing policy, but does have a record he is running on. The Democratic challenger, former vice president Joe Biden, has ambitious housing policy goals outlined on his website.”Kapfidze proceeds to dive into the subject matter with two bulleted lists.Here is what Donald Trump says he’ll do/has done, according to Kapfidze, who expounds further on each point on LendingTree.com:Privatize Fannie Mae and Freddie Mac by 2024.Rolled back key housing discrimination law–in July 2020, the Trump administration ended the Affirmatively Furthering Fair Housing (AFFH) regulation, which was introduced by President Barack Obama in 2015 and was a provision of the 1968 Fair Housing Act.Create “opportunity zones” (“the goal is to create economic opportunity and employment through the development of commercial properties and improve housing availability and quality via residential investment”)Kapfidze summarizes that “the President broadly believes that the government should have a limited role in housing regulation and finance. As such, his proposals generally reduce the involvement of the federal government in lending, by proposing to privatize Fannie Mae and Freddie Mac. Trump is also against various consumer protections, having reduced the enforcement powers of the CFPB. He has also worked to remove policies designed to protect consumers against housing discrimination.”As for Joe Biden, he has/promises to (Kapfidze, on LendingTree.com, expounds on each of his following points):Released a detailed $640 billion housing planCreate a new advanceable tax credit of up to $15,000 to increase homeownership“Enact legislation requiring any state receiving federal dollars through the Community Development Block Grants or Surface Transportation Block Grants to develop a strategy for inclusionary zoning””Biden’s plans are largely designed to assist those who face difficulty and discrimination in accessing the housing market. Broadly, his plans aim to make some progress addressing historical inequities in how housing finance and development has been conducted in the United States,” Kapfidze said. “Biden has released detailed plans covering access to housing finance, fighting the racial homeownership gap, increasing affordable housing, protecting renters, fighting homelessness and increasing the supply of homes through zoning changes.” Demand Propels Home Prices Upward 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Christina Hughes Babb Related Articles The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020 Presidential Election LendingTree 2020-09-24 Christina Hughes Babb Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Daily Dose / Where Each Presidential Candidate Stands on Housing The Best Markets For Residential Property Investors 2 days ago Where Each Presidential Candidate Stands on Housing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 24, 2020 15,565 Views Tagged with: 2020 Presidential Election LendingTreelast_img read more

Fire service attacked in Galliagh

first_img Three factors driving Donegal housing market – Robinson Nine Til Noon Show – Listen back to Wednesday’s Programme News, Sport and Obituaries on Wednesday May 26th By admin – October 22, 2015 WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Facebook Google+ Previous articleHighland’s Farming News – Thursday 22nd OctoberNext articleAnt-Man director back for the sequel admin Google+ Pinterest RELATED ARTICLESMORE FROM AUTHORcenter_img Twitter WhatsApp Fire service attacked in Galliagh The Fire Service came under attack while trying to put out a fire on the Moss Road in Galliagh tonight. A number of items were placed on the road and set on fire, and then fire service personnel were attacked when the arrived to deal with it.Sinn Fein Councillor Sandra Duffy says it was one of a number of incidents in the area, and commended community and youth workers who have been out on the ground to defuse the situation.She says it’s vital the message goes out that these attacks are totally wrong and will only have a detrimental effect on the area……..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/sandragalliagh.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest Twitter Help sought in search for missing 27 year old in Letterkenny 448 new cases of Covid 19 reported today Facebook Homepage BannerNewslast_img read more

CPWP urge people not to join Public Water Forum as Chair promises a voice…

first_imgHomepage BannerNews CPWP urge people not to join Public Water Forum as Chair promises a voice to dissenters Facebook Facebook Calls for maternity restrictions to be lifted at LUH Nine Til Noon Show – Listen back to Wednesday’s Programme GAA decision not sitting well with Donegal – Mick McGrath WhatsApp The Public Water Forum will be a watchdog that both bites and barks.That’s according to Tom Collins, who’s leading the independent group which is now looking for members.12 of them will represent organisations in areas like the environment and disability, and another 20 successful applicants will be domestic consumers.Tom Collins has also confirmed people who don’t pay their bills and those protesting against Irish Water will all be welcome to get involved.He’s been outlining the minimum he hopes can be achieved…………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/09/collinswaterforum.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.Can’t Pay Won’t Pay in Donegal are urging people not to become involved with the Public Water Forum, or interact with it in any way.Cllr Michael Cholm Mac Giolla Easbuig says to do so would be to legitimise Irish Water, and that is one of the key purposes of establishing the forum in the first place…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/09/michwaterforum.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.More details on the forum and how to join available here Google+ RELATED ARTICLESMORE FROM AUTHOR Previous articleCiara Grant excited ahead of Euro QualifiersNext articleDonegal ranks as one of the worst for electing women to the Dail admin center_img Twitter By admin – September 21, 2015 Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Twitter Google+ WhatsApp Pinterest Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector publishedlast_img read more

Negative equity mortgage holders could be thrown a lifeline

first_img Pinterest Twitter Twitter WhatsApp By News Highland – February 15, 2012 Almost 10,000 appointments cancelled in Saolta Hospital Group this week Newsx Adverts WhatsApp Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH Google+ Guidelines for reopening of hospitality sector published center_img People in negative equity could be offered new mortgages.According to the Irish Independent, the Central Bank has given Permanent TSB and Bank of Ireland permission to offer a new type of homeloan which would see existing debt added onto a loan for a new property.More than half of mortgage holders are in negative equity – meaning their property is worth less than their remaining mortgage.Under this scheme, to be offered by Permanent TSB and Bank of Ireland, these mortgage holders will be able to move house – and take their negative equity debt with them.Up until now, the Central Bank was reluctant to give the go ahead for this new type of loan – for fear that it would drive people into deeper debt.But strict limits will be imposed to make sure it is only offered to people who are able to make the repayments – and there will be a cap imposed on the amount of negative equity that can be carried on. RELATED ARTICLESMORE FROM AUTHOR Previous articleMan cleared of murdering teenager in bar on Arranmore IslandNext articleLetterkenny Mayor calls for no cuts to Community Employment Schemes News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Google+ Negative equity mortgage holders could be thrown a lifeline Facebook Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Pringle claims government is targetting the families of autistic children to save money

first_img Need for issues with Mica redress scheme to be addressed raised in Seanad also Twitter Pinterest Newsx Adverts By News Highland – June 20, 2011 Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton A Donegal TD is accusing the government of refusing applications for help from the families of autistic children as a cynical means of saving money.Deputy Thomas Pringle says the Domicillary Care Allowance was previously administered by the HSE, but that’s now been transferred to the Department of Social Protection, and since then, the number of refusals has increased substantially.Deputy Pringle says given the number of representations he is receiving, the department has serious questions to answer……….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/06/pringdomic.mp3[/podcast] WhatsApp Twitter Guidelines for reopening of hospitality sector published Facebookcenter_img Pringle claims government is targetting the families of autistic children to save money RELATED ARTICLESMORE FROM AUTHOR Previous articleNeighbour rescues woman from St. Johnson house fireNext articleLargo Foods confirm €2.6 million investment plan News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook WhatsApp Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Google+last_img read more

Hopes that Dungloe after school service can be rescued

first_img Facebook Google+ WhatsApp Google+ Dail to vote later on extending emergency Covid powers Pinterest Twitter Facebook WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal There is renewed hope that the afterschools service at Gweedore road in Dungloe can be saved.The service has been operational for five years, under the auspices of the Dungloe based Rosses Community Development.The CDP has told the unit’s two staff, and the families that use the service, that they no longer have the resources to fund it.However, CDP Chairperson Mary Mc Hugh says they hope to identify new sources of funding, and the service could be up and running again in a few weeks time………..[podcast][http://www.highlandradio.com/wp-content/uploads/2011/02/marym1pm.mp3[/podcast]center_img Pinterest Hopes that Dungloe after school service can be rescued Previous articleTender process for Youth Council coordinator explainedNext articleDonegal women waiting longer to give birth – CSO News Highland Twitter Dail hears questions over design, funding and operation of Mica redress scheme Man arrested in Derry on suspicion of drugs and criminal property offences released Newsx Adverts By News Highland – February 25, 2011 HSE warns of ‘widespread cancellations’ of appointments next week RELATED ARTICLESMORE FROM AUTHORlast_img read more