Pending Home Sales See October Decline

first_img About Author: Scott Morgan Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Tagged with: Existing Home Sales National Association of Realtors Pending Home Sales Existing Home Sales National Association of Realtors Pending Home Sales 2014-11-27 Scott Morgan Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured Subscribe Previous: Rushmore Loan Management Services Opens Branch in Puerto Rico Next: Altisource Acquires Online Real Estate Marketplace Data Provider Black Knight to Acquire Top of Mind 2 days ago November 27, 2014 826 Views Pending home sales declined month-to-month in October but remained higher than they were a year ago, according to the latest Pending Home Sales Index from the National Association of Realtors (NAR).NAR reported Wednesday that contract signings nationally decreased 1.1 percent last month, though they were still up 2.2 percent compared to last October.Despite the monthly drop, Lawrence Yun, NAR’s chief economist, said that contract signings have remained at a healthy pace now for six straight months.”In addition to low interest rates, buyers entering the market this autumn are being lured by the increase in homes for sale and less competition from investors paying in cash,” Yun said.And while demand is holding steady, the market would be “more robust if it weren’t for lagging wage growth and tight credit conditions that continue to hamper those individuals looking for relief from rising rents,” he said.The Northeast had the largest uptick in pending home sales, which inched up half a percent in October and are now 3.4 percent above a year ago.On the flipside, the Midwest index dropped a little more than half a percent in October and is now 3 percent below October 2013. Pending home sales in the South and West also dropped (1 and 3.2 percent, respectively) but still fared about 4 percent better than they did a year ago.By comparison, though pending sales took a break last month, existing-home sales in October hit their highest point in more than a year, according to NAR. It was the first time in 2014 that monthly sales beat 2013 numbers.The median existing-home price for all housing types in October was $208,300, which is 5.5 percent above October 2013. Monthly median price growth this year has averaged 5.8 percent through October after averaging 11.5 percent last year.Yun said the increase in median prices for existing homes has leveled off, which signals “a healthier pace that has kept affordability in-check for buyers in many parts of the country.” At the same time, he said, the leveling-off eases the ability to sell for homeowners who for the past few years have been stuck by negative or flat equity.Earlier this month, NAR also recently released its economic and housing forecast for 2015 and 2016, in which Yun predicted that existing-home sales this year would fall slightly below 2013’s total of 5.1 million, but then gradually increase to5.4 million through 2016.Beyond Yun’s predictions, the fact that pending sales were down month-to-month but up year-to-year may signal a downturn in signings as winter sets in. Slower winter sales and signings are the norm, but it’s doubtful anyone wants a repeat of last winter, which pummeled much of the country for longer than normal and delayed the spring buying surge by nearly three months. The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Pending Home Sales See October Decline Share Save  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Pending Home Sales See October Declinelast_img read more

Reforming Dodd-Frank to Unify the U.S. Economy

first_imgHome / Daily Dose / Reforming Dodd-Frank to Unify the U.S. Economy The Best Markets For Residential Property Investors 2 days ago Previous: Small Cities Post Higher Credit Scores Than Big Ones Next: Carson: HOME, CDBG May Continue Under New Names Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Dodd-Frank Regulation 2017-04-14 Seth Welborn Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Related Articles Reforming Dodd-Frank to Unify the U.S. Economy The Best Markets For Residential Property Investors 2 days ago Tagged with: Dodd-Frank Regulation April 14, 2017 1,349 Views Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago “For seven years now, the Dodd-Frank Act has stifled the American Dream—for half of the country,” said U.S. Representative David Kustoff (R-TN) in an opinion piece on CNBC. According to Kustoff, Dodd-Frank requires rolling back, and it has caused plenty of harm since then. Though it saved plenty of big banks during the recession, its regulation has stifled many smaller banks.“Our smaller communities and hopeful entrepreneurs have been shut out, said Kustoff. “Those who are seeking to start or grow their small business are incapable of accessing the capital necessary to merely plant both feet on the ground.”The long-term effect of Dodd-Frank has been the negative impact on community banks, regional banks, credit unions and other lenders. “These smaller financial institutions have their hands tied with onerous regulations and high compliance costs, and their ability to loan money is constrained,” said Kustoff.Kustoff recommends rolling back some of the regulations in order to ease that strain on small banks. He is currently working with Financial Services Committee Chairman Jeb Hensarling to make that happen, and change the current system“[Federal Reserve] Chair Yellen said that our nation is at full employment and that, while there is still room for improvement, wages are rising,” said Kustoff. “Chair Yellen should take a drive through West Tennessee. She would see how that may be true for the half of America that benefitted from Dodd-Frank. Unfortunately, Chair Yellen’s evaluation was not considering a dynamic economy—an economy that encourages new businesses, new job creation and new salaries.”Washington’s “one-size-fits-all” regulations have made lending difficult for small banks, and Dodd-Frank has cut off access to credit cards and home equity lines of credit, as credit-card issuance hit a record low of 50 million fewer accounts than before the recession.Now, the opportunity is right to start rolling back that regulation.“The Financial Services Committee has already hit the ground running on legislation that will dismantle Dodd-Frank and open the door for all Americans to achieve financial independence,” said Kustoff “I am encouraged by the ambitious and productive schedule Chairman Hensarling has mapped out.”He continued, “Dodd-Frank created two Americas, but I see a unified U.S. economy that serves all Americans.”Read Kustoff’s full story here. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

The Week Ahead: Tracking Residential Construction

first_img The Week Ahead: Tracking Residential Construction Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Frank Pallotta Appointed to Indisoft’s Advisory Board Next: DocMagic Reaches New Milestone Home / Daily Dose / The Week Ahead: Tracking Residential Construction Tagged with: Home Construction Residential Construction the week ahead U.S. Census Bureau Value of Construction Put in Place Survey Home Construction Residential Construction the week ahead U.S. Census Bureau Value of Construction Put in Place Survey 2018-01-28 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 28, 2018 1,242 Views On Thursday, February 1, at 10 a.m. EST, the United States Census Bureau will release its monthly Value of Construction Put in Place Survey. Conducted monthly since 1964, the Survey estimates the total dollar value of construction work done in the U.S. in a give month. It covers both new work and improvements to existing buildings.The previous release of the Survey covered November 2017. Each release tracks residential, nonresidential, and public construction spending, both in seasonally adjusted annual rates and unadjusted rates.Here’s what else is scheduled for The Week Ahead.Personal Income and Outlays, Monday, 8:30 a.m. ESTS&P Corelogic Case-Shiller HPI, Tuesday, 9 a.m. ESTConsumer Confidence Index, Tuesday, 10 a.m. ESTState Street Investor Confidence Index, Tuesday, 10 a.m. ESTMBA Mortgage Applications, Wednesday, 7 a.m. ESTADP Employment Report, Wednesday, 8:15 a.m. ESTEmployment Cost Index, Wednesday, 8:30 a.m. ESTTreasury Refunding Announcement, Wednesday, 8:30 a.m. ESTPending Home Sales Index, Wednesday, 10 a.m. ESTFOMC Meeting Announcement, Wednesday, 2 p.m. ESTJobless Claims, Thursday, 8:30 a.m. ESTFed Balance Sheet, Thursday, 4:30 p.m. ESTSan Francisco Fed President John Williams keynote speech to the “Financial Women of San Francisco” in San Francisco, with audience Q&A, Friday, 3:30 p.m. EST Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton Sign up for DS News Daily Subscribelast_img read more

Fewer Renters Planning to Buy a Home

first_img Previous: How Did Refis Impact the 2008 Financial Crisis? Next: Is Housing Ready for a Rebound? Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Krista Franks Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Fewer Renters Planning to Buy a Home Baby Boomers First-Time Homebuyers Freddie Mac Generation X Homebuyers Millennials rental market Renters Single Family Rental 2018-04-09 Krista Franks Brock Amid heightened concern for housing affordability and overall rental satisfaction, renting has become increasingly favored among some segments of the population in the United States. Among renters, 67 percent say they believe renting is currently more affordable than owning a home, and 66 percent say they are satisfied with their rental experience, according to research released by Freddie Mac Multifamily.Freddie Mac Multifamily reported in its “Profile of Today’s Renter” that 55 percent of renters say they believe their next residence will be a rental, according to the survey. The percentage of renters who say they have no interest in owning a home is also on the rise, climbing three percentage points up to 20 percent from Freddie Mac’s previous survey in August 2017 to its most recent survey conducted in February. The preference is notably more pronounced among older generations. Just seven percent of millennials stated they had no interest in owning a home, while 19 percent of Generation X renters and 35 percent of baby boomer renters reported the same sentiment. “Indeed, we are witnessing a historic shift in preference among older Americans, as they increasingly are choosing the size, convenience, and affordability that renting offers over ownership,” said David Brickman, EVP and Head of Freddie Mac Multifamily. Suburban renters are the most likely to express a desire to own a home, with just 18 percent saying they have no desire, compared to 21 percent of both rural and urban renters. The shift appears to be the result of a perceived decline in affordability.“Perceptions of affordability and cost continue to play an outsized role in the choices of America’s renters, as they overwhelmingly see renting as more affordable and the right choice for them—right now,” Brickman said. In all, 67 percent of renters who plan to continue renting cite financial reasons for their choice, an increase from 59 percent two years ago. Millennial renters were the most likely to cite financial reasons as their reason to continue renting in the future, although financial concerns are on the rise among all three generations surveyed.  Seventy-four percent of millennials who plan to continue renting said financial reasons drove their decision, up from 59 percent in 2016. Sixty-five percent of Generation X renters who plan to continue renting will do so for financial reasons, up from 63 percent in 2016. Finally, 62 percent of baby boomers cited that rationale, up from 58 percent in 2016. Renters in the West are feeling the effects of rising home prices and rent prices most acutely. Fifty-one percent of Western renters stated that owning a home has become more difficult over the past three years, compared with 43 percent in the Northeast, 36 percent in the South, and 27 percent in the Midwest. Furthermore, 64 percent of those surveyed in the West say rent increases have caused them to spend less on other essentials, which is a full nine percentage points higher than in any other region, according to Freddie Mac’s research. Despite these challenges, renters on the West Coast are more likely than those in other regions to remain in their current rental rather than move after experiencing an increase in rent, with 71 percent saying they will not move, compared with 63 percent in the Midwest, 58 percent in the South, and 67 percent in the Northeast. Renters claim to be largely satisfied with their rental experience, according to the Freddie Mac data. The most recent survey found 66 percent of renters reporting satisfaction, up 6 percentage points from the previous survey in August 2017.“Renter satisfaction remains high, but the continued shortage of supply and growing demand means more renters are looking at cost than ever before,” Brickman said. In fact, in a companion survey from GfK Custom Research revealing mobility trends among renters, 64 percent of renters stated price was the most important factor for them when choosing their next home, significantly more than the 36 percent who said location was their top priority. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 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. Share Save Related Articles in Daily Dose, Featured, Journal, Market Studies, News Tagged with: Baby Boomers First-Time Homebuyers Freddie Mac Generation X Homebuyers Millennials rental market Renters Single Family Rental Fewer Renters Planning to Buy a Home April 9, 2018 2,100 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Recognizing Great Work Cultures

first_imgSign up for DS News Daily Previous: Issues Impacting the Home Equity Market Next: Where Inventory’s Growing, And Where It Isn’t Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 1, 2018 1,940 Views Home / Daily Dose / Recognizing Great Work Cultures Share Save companies MReport Work Culture 2018-11-01 Radhika Ojha  Print This Post Tagged with: companies MReport Work Culture The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img What does an exemplary work culture mean? The answer lies with the companies that feature in MReport’s inaugural list of Top 25 Companies to Work for. The list serves as a premier platform to highlight the achievements of organizations in the mortgage and housing industries who are leading the way in making a more conducive workplace for the people they employ.Each of these organizations was nominated by an employee or peer in one of five categories: Law Firms, Lenders/Servicers, Minority/Women-Owned or Operated, Service Providers, and Tech. “MReport is privileged to celebrate these organizations and their leadership in the Top 25 Companies list,” said Rachel Williams, Editor-in-Chief of MReport. “Each of these companies has worked tirelessly to cultivate exemplary workplace cultures, and this list is our way of giving them the recognition they deserve.”The law firms that are leading the way in creating a great place to work include KML Law Group, Manley Deas Kochalski LLC, McCarthy & Holthus, Stern & Eisenberg, and Potestivo & Associates, PC.Citizens Bank, Mr. Cooper, PennyMac, RoundPoint Mortgage Servicing Corporation, and Waterstone Mortgage Corporation, have been recognized in the lender/servicer category for their ground-breaking initiatives in talent engagement and growth of individual employees.”We are honored to be recognized as a Top 25 company, and consider it our highest responsibility to be a place where employees want to work,” said Chad Neel, Chief Executive Business Officer at McCarthy & Holthus. “We recognize that people have a choice of where they spend their day and so we are appreciative of our dedicated team who comes to work every day with the goal of providing “Service Second to None” to our clients.”Five Brothers Mortgage Company Services and Securing Inc, LBA Ware, loanDepot, and WeatherCheck were among the firms recognized in the Minority/Women-Owned or Operated category. In the Service Provider Category, Amrock, Carrington Mortgage Services LLC, Fiserv, Mortgage Contracting Services, MortgageFlex Systems, and National MI were recognized for leading the way in fostering talent retention and engagement.“We’re truly grateful to be recognized by MReport as one of the top 25 companies to work for. At Black Knight, we pride ourselves on having built an unmatched team of talented, diverse and creative thinkers who are committed to bringing transformational change to the industry through innovation,” said Michelle Kersch, SVP, Marketing & Corporate Communications, at Black Knight which was one of the Tech Providers recognized in the Top 25 list.DataTree by First American, Factom Inc., Pavaso Inc., and Sagent Lending Technologies joined Black Knight in this category.We would be remiss if we didn’t honor and recognize all the companies nominated by their employees and peers for this list. They include:5 ArchAccumatch Property Tax IntelligenceACES Risk Management Alderus MortgageAldridge PiteAmerican Financial NetworkAsurity TechnologiesATA National Title GroupBaird & Warner Real EstateBronColdwell BankerColdwell Banker – Janice Lee Real EstateCollateral ManagementCredit Plus Fairway Independent Mortgage CorporationFinicityFirst American Mortgage SolutionsFirst Choice Loan Services FirstCloseFormFreeFreedom MortgageGSF Mortgage CorporationGregg & ValbyGuardian Asset ManagementHomeBased RealtyInlanta MortgageIDSJornayaJust WorksKeller Williams RealtyKeller Williams Select RealtorsLend PlusLender ToolkitLRES CorporationThe McCarthy CorporationMCH Of Rockland Inc.Mid America MortgageMiMutual MortgageMoody National CompaniesMortgage Network, Inc.Mortgage Quality Management and ResearchNewDay USANCP SolutionsOcwen Financial CorporationO’Kelley & Sorohan, Attorneys at LawOneTrust Home LoansOpenCloseOS NationalPeterson & PricePlanet Home LendingProfessional Real Estate TeamPromonTechRCN CapitalSafeguard Properties ManagementSilva Real Estate GroupSimpleNexusSimplifileThe StoneHill GroupTaylor Morrison Home FundingTrans-Action Realty 500WebMaxWindermere Real EstateWilliam Mills AgencyXINNIXClick here for the latest issue of MReport to know more about all these companies. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Recognizing Great Work Cultures Servicers Navigate the Post-Pandemic World 2 days ago 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. in Daily Dose, Featured, News Subscribelast_img read more

Flagstar SVP: Low Volume “Tension”

first_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago What are some of the biggest challenges and changes facing default servicing? At the 2019 Five Star Conference and Expo and how Courtney Thompson, SVP, Director of Default Servicing Operations at Flagstar Bank spoke with DS News on these subjects. According to Thompson, the biggest challenge for default servicers right now is volume.”In a lower volume environment, I think it creates a tension where we don’t have all the resources we need to prepare ourselves for when there is more” said Thompson. Flagstar SVP: Low Volume “Tension” Servicers Navigate the Post-Pandemic World 2 days ago Previous: Deputy Assistant Secretary Gisele Roget Leaves HUD Next: Renters Versus Homeowners: Housing Cost Burden default Inventory Volume 2019-11-11 Seth Welborn Sign up for DS News Daily Share Save Home / Daily Dose / Flagstar SVP: Low Volume “Tension” The Best Markets For Residential Property Investors 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. November 11, 2019 1,752 Views Tagged with: default Inventory Volumecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Technology Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Seth Welbornlast_img read more

Court Allows Recovery of Attorney’s Fees Following Foreclosure

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post court Foreclosure Law 2020-01-29 Seth Welborn Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Fifth District Court of Appeals (“Fifth DCA”) rendered a decision wherein it reversed a judgment for the borrower, Patricia Leigh (“Leigh”), and ordered the lower court to enter judgment for US Bank, the mortgagee. U.S. Bank Trust, N.A., as Trustee for LSF9 Master participation Trust v. Patricia Maria Cozza Leigh. In Leigh, US Bank sent Leigh a demand letter prior to initiating its second foreclosure action against her. The demand letter required Leigh pay $86,865.59 to cure her default which amount included over $10,000 in attorney’s fees and costs from a prior foreclosure. Leigh failed to pay the demanded amount and US Bank filed its foreclosure complaint.The matter proceeded to trial where Leigh asserted US Bank failed to satisfy conditions precedent because its demand letter “was inaccurate and impermissibly sought…attorney’s fees and expenses” from the prior foreclosure suit and sought installment payments that were more than five years past due. Leigh argued the statute of limitations prohibited US Bank from demanding installment payments that were more than five years past due when the bank sent its demand letter. The lower court agreed with Leigh, entered a judgment in her favor and US Bank appealed.The Fifth DCA reversed the judgment in favor of Leigh finding the current state of the law allowed a lender to “recover for unpaid installments more than five years past due.” The Court also found that US Bank properly included its attorney’s fees and costs from the prior foreclosure in its demand letter. The Court explained:Paragraph nineteen of the mortgage provides that in order for Appellee to reinstate the mortgage, she would be required to pay the lender all sums then due and all expenses incurred in enforcing the mortgage, including reasonable attorney’s fees and specified foreclosure litigation expenses. According to the plain language of the mortgage, Appellant was not required to be the prevailing party in the first foreclosure action in order to seek and recover its attorney’s fees and expenses.The Court remanded the matter for entry of a judgment in favor of US Bank. The Fifth DCA’s award of the bank’s attorney’s fees and costs even those fees resulted from a prior unsuccessful foreclosure is a significantly positive position. Stay tuned! We anticipate future litigation as the other district courts weigh in on the fee issue and we’ll provide updates if Leigh’s anticipated rehearing motion results in an alteration of this ruling. Roy A. Diaz is the Managing Shareholder of Diaz, Anselmo Lindberg, P.A. The firm provides representation in Florida, Illinois, Ohio, Indiana, Kentucky, Wisconsin and Michigan. Diaz has been a member of the Florida Bar since 1988. He has concentrated his practice in the areas of real estate, litigation, and bankruptcy. He has represented lenders, servicers of both conventional and GSE loans, private investors, and real estate developers throughout his career with an emphasis on the mortgage servicing industry for over 25 years. The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Court Allows Recovery of Attorney’s Fees Following Foreclosure The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Fed Keeps Interest Rates Steady Next: DIMONT Appoints New CEO Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Court Allows Recovery of Attorney’s Fees Following Foreclosure About Author: Roy Diaz January 29, 2020 2,662 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: court Foreclosure Law in Daily Dose, Featured, Investment, News Subscribelast_img read more

Demand Propels Home Prices Upward

first_imgSubscribe  Print This Post in Daily Dose, Featured, Journal, Market Studies, News 2 days ago 184 Views Daryl Fairweather list price National Association of Home Builders (NAHB) National Association of Realtors (NAR) Pending Home Sales Pending Home Sales Index (PHSI) Redfin 2021-05-28 Eric C. Peck According to a new report by Redfin, 51% of homes sold for more than their list price—up from 26% the same period a year earlier, marking a new record for this metric.Last year at this time, pandemic stay-at-home orders halted homebuying and selling, which makes year-over-year comparisons unreliable for select housing metrics, according to Redfin. This report was broken into two sections: metrics that are okay to compare to the same period in 2020, and metrics for which it makes more sense to compare to the same period in 2019.For metrics to compare to 2020:A record-high median home sale price of $354,250, and sales were up 24% year-over-year, also a record.Asking prices reached a median $361,875, also a record high.A record-high 101.9% average sale-to-list price ratio, which measures how close homes are selling to their asking prices, up 3.4 percentage points year-over-year. This means that the average home sold for 1.9% more than its asking price.A record low of 17 days on market for homes that sold during the period, down from 36 days from the same period in 2020.The share of homes sold in one or two weeks are both just shy of their record high level, which was set during the four-week period ending May 9.57% of homes that went under contract had an accepted offer within the first two weeks on the market.44% of homes that went under contract had an accepted offer within one week of hitting the market.Compared to 2019’s totals:Pending home sales were up 19% from the same period in 2019, but are down 3% from the four-week period ending May 9.New listings of homes for sale were down 8% from the same period in 2019, and are down slightly from the 2021 high, which was set during the four-week period ending May 2.Active listings (the number of homes listed for sale at any point during the period) fell 49% from the same period in 2019.For the week ending May 21, mortgage purchase applications increased 2% week-over-week (seasonally adjusted). For the week ending May 27, 30-year mortgage rates fell slightly to 2.95%. About Author: Eric C. Peck Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Data Provider Black Knight to Acquire Top of Mind Servicers Navigate the Post-Pandemic World 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Related Articles Tagged with: Daryl Fairweather list price National Association of Home Builders (NAHB) National Association of Realtors (NAR) Pending Home Sales Pending Home Sales Index (PHSI) Redfin Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Daily Dose / Demand Propels Home Prices Upward Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Increases in home prices seems to be keeping may potential homebuyers on the sidelines, as they await prices to drop before dipping into the ever-restricted supply of available homes.The National Association of Realtors (NAR) reported in its latest Pending Home Sales Index (PHSI) that pending home sales took a step back in April, dropping over March’s total, due in part to the record low inventory of homes available in Q1. NAR’s PHSI fell 4.4% to 106.2 in April, while year-over-year, signings jumped 51.7% as last year’s pandemic-related shutdowns slumped sales to an all-time low.While the lure of sub-3% rates may goad many into a market where homes are selling for record highs, factors such as a depleted skilled workforce and the rising costs of materials are factoring into these price hikes. The National Association of Home Builders (NAHB) has reported that the price of lumber has tripled over the past year, forcing the price of a new single-family home to rise $35,872 on average.”We are seeing a typical late-spring slowdown in new listings and pending sales,” said Redfin Chief Economist Daryl Fairweather. “However, prices don’t typically peak until late August, and their growth remains completely unhinged. The fact that homes keep selling for more and more above asking prices goes to show that many more people want a home than there are homes for sale. I don’t see that changing until mortgage rates increase, which will likely happen later this year. But until then, the housing market will remain red-hot.”last_img read more

Fianna Fail denies u-turn over water charges

first_img Guidelines for reopening of hospitality sector published The Fianna Fáil leader has denied claims of a u-turn over Irish Water.Micheal Martin says it was always his party’s position that charges should be scrapped entirely.It comes after the party was accused of abandoning its election stance and calling for charges to be scrapped, not merely suspended.Micheal Martin says the Fianna Fail position is entirely consistent:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/09/14martin.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Fianna Fail denies u-turn over water charges Google+ Pinterest Google+ Previous articleNo reprieve for eight BOI branches in Northern Ireland – CEONext articleTeens rescued off Donegal coast find their heroes through public appeal News Highland Twitter Facebook Nine Til Noon Show – Listen back to Wednesday’s Programme WhatsAppcenter_img RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH NPHET ‘positive’ on easing restrictions – Donnelly By News Highland – September 20, 2016 Homepage BannerNews Pinterest Three factors driving Donegal housing market – Robinson GAA decision not sitting well with Donegal – Mick McGrath WhatsApp Twitterlast_img read more

Another suspicious fire in Inishowen

first_img Calls for maternity restrictions to be lifted at LUH Google+ Previous articleFormer Irish soldier to be tried on Fermanagh gun chargesNext articleLoganair awarded Donegal – Dublin air contract News Highland There’s been another suspicious fire in Inishowen, this one in the Hilltown area of Buncrana.Shortly before half past three, a car was set alight outside an elderly woman’s home, two sheds containing farm machinery and a load of turf were also burned.Chief Fire Officer Bobby Mc Menamin says it’s worrying that such incidents are continuing, and says if they continue, there could be a tragedy.He’s been outlining what happened this morning………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/08/bobby1pm.mp3[/podcast] Three factors driving Donegal housing market – Robinson Facebook Facebook Another suspicious fire in Inishowen Pinterest Twitter Twitter WhatsAppcenter_img By News Highland – August 24, 2011 Newsx Adverts Pinterest RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Guidelines for reopening of hospitality sector published WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more