U.S. Rep. Duffy Says Financial Reform Attempts Have Failed America

first_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sean DuffyA U.S. Congressman said on Wednesday that the government’s attempts at financial reform, namely the Dodd-Frank Act passed in 2010, have missed the mark as the “unintended consequences” and “collateral damage” have outweighed the positives of reform attempts.In an editorial for the Marshfield (Wisconsin) News Herald, U.S. Rep. Sean Duffy (R-Wisconsin) on Wednesday, Chairman of the House Committee on Financial Services’ Subcommittee on Financial Services Oversight and Investigations, stated that as Dodd-Frank has been implemented over the last five years, “clearly, older does not mean wiser.”Duffy said in Wednesday’s editorial at the time Dodd-Frank was passed in July 2010, President Obama promised it would “lift the economy,” stabilize markets, protect Americans’ hard-earned money, and end “too big to fail” to ensure that the failure of any one financial institution would threaten the stability of the global economy.”Instead, for most Americans, the costs of doing business went up, while benefits went down,” Duffy said. “Mortgages were harder to qualify for. Gone were the days of free checking, and when it game to getting that loan to open the small business of your American dream, your word was no longer as good as your bond.”The 2008 financial crisis occurred largely because of a combination of federal financial regulators failed to do their jobs and failure to anticipate problems in the subprime mortgages market, Duffy said.”Instead, for most Americans, the costs of doing business went up, while benefits went down.””It rewarded regulators’ incompetence with more responsibility, and it built a moat around ‘too big to fail institutions,’ while making it difficult for small banks to stay afloat—to say nothing of the untold damage it has done to our economy,” Duffy said. “The law of unintended consequences has never been more apparent than when we look at Dodd-Frank.”Duffy said that while Dodd-Frank’s goal may be worthy, “we must look at the collateral damage along the way and ask ourselves if we are going down the right path.” In particular, the new regulatory environment has placed heavy burdens on community banks and smaller financial institutions; and while banks may be better capitalized, they are pulling out of market-making activities. For example, in July, Wells Fargo and Prospect Mortgage announced their departure from marketing activities that depend on mortgage servicing agreements due to regulatory uncertainty and Real Estate Settlement Procedures Act (RESPA) interpretations. With banks holding onto more capital and withdrawing from market-making activities, “these markets are left withering in the wake of Dodd-Frank and other internal regulations,” Duffy said.The controversial Consumer Financial Protection Bureau (CFPB), which was created by Dodd-Frank, was tasked with protecting consumers of financial products from predatory practices, according to Duffy, yet ironically the Bureau has come under heavy scrutiny for allegations that it discriminated against employees and subsequently retaliated against the whistleblowers.In March, Duffy introduced a comprehensive package to reform the CFPB. In April, a Duffy-sponsored bill (H.R. 1265, or the Bureau Advisory Commission Transparency Act) calling for more transparency from the Bureau passed in the House by a 401 to 2 vote.”This ‘government-knows-best’ mentality has gone too far,” Duffy said. “Americans are capable of making financial decisions that they know to be in their best interests. The CFPB is putting its political ideology over your consumer freedom.” About Author: Brian Honea Previous: Prominent Economists Contend Now Is Not the Time for a Fed Lift-Off Next: Comptroller of the Currency Discusses Progress Made Toward Rehabilitating Urban Communities Sign up for DS News Daily  Print This Post Share Save U.S. Rep. Duffy Says Financial Reform Attempts Have Failed America 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img in Daily Dose, Featured, Government, News Subscribe Home / Daily Dose / U.S. Rep. Duffy Says Financial Reform Attempts Have Failed America Tagged with: CFPB Congressman Sean Duffy Dodd-Frank Wall Street Reform Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago CFPB Congressman Sean Duffy Dodd-Frank Wall Street Reform 2015-09-09 Brian Honea September 9, 2015 1,023 Views Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Ask the Economist: The Contracting Housing Market

first_img Servicers Navigate the Post-Pandemic World 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Nela RichardsonNela Richardson, Chieif Economist for Refin, joined Redfin from Bloomberg LP, where she was a Senior Economist with Bloomberg Government. She has also held research economist positions at the Commodity Futures Trading Commission, Harvard University’s Joint Center for Housing Studies and Freddie Mac. Nela leads the Redfin research team and is a frequent guest expert on housing and economic issues for local and national mediaRichardson recent spoke with DS News about her views on the current housing market as well as innovation in the mortgage industry.You spoke recently of the housing market contracting inside of bubbling. What do you think the future of the market will look like with this contraction?I think there is going to be less turnover. One of the strengths of the U.S. Labor Market is that it has been supported by a very active, very mobile workforce. Part of that is because historically it has been very easy for people to buy and sell their homes and move to where the jobs are. I think along with other thinkers that it looks to be that this is not going to keep going at the same amount we have seen in the future. This means that turnover will be less. Because inventory is so low, people are a little timid about selling their house and a little afraid of not finding a new home is a new location. There is also the issue of the prices being too high in the location where the home is. Overall, this low turnover in the long run might impact the labor market simply because people can’t move because of various housing restraints to where the jobs are. The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles About Author: Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago August 31, 2016 1,513 Views Tagged with: Ask the Economist Housing Market Innovation Nela Richardson Redfin Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Commentary / Ask the Economist: The Contracting Housing Market What does the housing market look like in regard to sales, and you spoke of less investors in the market so what impact does that have to the market as a whole?Year-to-date sales are up and in fact we will have the best year in housing since the bust. But recently we have seen some slowness in the market. The last month we saw a drop year over year so what we think is happening in the second part of the year is that low inventory is actually putting a lid on sales. We could have much stronger sales than we do right now if there was more inventory because buyer demand is high.For the buyer, having less investors is a good thing because it means less competition. In a market that has such low inventory, it is good to have less competition. At the low end though, for the affordable homes you do see more investors and that is a challenge to first time buyers. This is because whenever there is an affordable home that comes into the market, the agents say that you see first time buyers, high end buyers and investors because that property has such potential as a rental property. First time buyers are not only competing with themselves for affordable housing but they are also competing with investors who want to turn the properties into rentals and high end buyers who want a second home to turn into a vacation home or Airbnb. Ask the Economist Housing Market Innovation Nela Richardson Redfin 2016-08-31 Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Ask the Economist: The Contracting Housing Market Demand Propels Home Prices Upward 2 days ago Why do you think the mortgage industry might be reluctant to innovation?Regulations, Risk, and Repercussions, the three R’s. In a low rate environment like we have now this is the time where you should see innovation in the mortgage market but I think the industry hasn’t figured out how to have financial innovations and in a safe way. A lot of the mortgage market is unwilling to take the risk because of regulations and the cost of making a mistake. The justice department won several lawsuits from banks and I think banks are really worried about the repercussions of making a mistake, running out of bounds of regulation, not having clear lines of what is tolerable and what is not in terms of risk and for that reason they’re afraid to take a bet on the American consumer and the future homebuyer of whether they’re first time or millennial. The banks right now I think like to stay on the safe end of the pool and so we are not seeing a lot of innovations right now. We are not even seeing a lot of loosening right now. There was a little bit last year but banks are pretty much holding steady on their underwriting standards. Some people would argue that this is great and we should have tight underwriting and it should be hard to get a mortgage because we should make homeownership aspirational enough that people make sound decisions. While I don’t disagree with that, I still think that it is too hard to get a mortgage for most middle class families. What are some of the mistakes you are seeing post-crisis in the market and in the mortgage industry?One, we need more lending to new construction, not less. We’ve seen recent data show that things are pulling back from multifamily, and that is back news because that trickles down to all segments of the housing market. When there is less in the market whether that is rental or for sale that makes it harder for buyers and renter to find homes in their price range. We need more new construction and lending. Second, we are not overbuilding but we are also not meeting the demand for starter homes. First time buyers, millennials are not finding a lot in their price range whether it’s condos or single family homes because they’re not building there and homeowners aren’t listing at that price range. Third, the for-sale market has never been faster. Technology has really added homebuyers. And yet in the mortgage market we are seeing exactly the opposite. The mortgage market has not kept up with the pace of housing and that is a big mistake. During the crisis, the mortgage market could have outrun the fundamentals of housing but now it is lagging. The Best Markets For Residential Property Investors 2 days ago in Commentary, Daily Dose, Featured Sign up for DS News Daily Previous: New Fitch Ratings for Fannie Mae’s CAS Notes Next: NFHA Files Discrimination Complaint Against Bank of Americalast_img read more

Borrowers are Getting Back Into the Black

first_img in Daily Dose, Featured, News Tagged with: Home Equity Underwater Borrowers Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Borrowers are Getting Back Into the Black Related Articles Home Equity Underwater Borrowers 2017-01-08 Brian Honea The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Homeowner equity improved over the first three quarters of 2016 to levels not seen since before the recession, according to the Black Knight Financial Services Mortgage Monitor for November 2016 released Monday.The report found that 4.4 percent of homeowners, or 2.2 million, were in negative equity‒‒the fewest since early 2007‒‒and roughly 1 million homes returned to positive equity over the first three quarters of 2016. This has created $4.6 trillion in available equity, or nearly $118,000 available per borrower. This is the highest market total and highest average per borrower total since 2006 and is within 6 percent of peak totals.“There are now over 39 million borrowers with tappable equity, meaning they have current combined loan-to-value ratios of less than 80 percent,” the report stated.Homes in the bottom 20 percent by price were also nine times more likely to be underwater than those in top 20 percent, according to Black Knight.Ben Graboske, EVP for Data and Analytics at Black Knight, said that whereas negative home equity was once a widespread national problem‒‒with roughly 30 percent of all homeowners being underwater on their mortgages at the end of 2010‒‒it has now become much more of a localized issue.“By and large, the majority of states have negative equity rates below the national average of 4.4 percent,” Graboske said. There are, though, some pockets where homeowners continue to struggle.”Three states in particular stand out: Nevada, Missouri, and New Jersey, all of which have negative equity rates more than twice the national average, he said. Atlantic City leads the nation, with 23 percent of its borrowers underwater, followed by St. Louis at 20 percent.“On the other hand,” Graboske said, “even though the total equity tapped via first-lien refinances hit a seven-year high of more than $70 billion over the first three quarters of 2016, that means less than two percent of available equity has been tapped so far this year. That equity also continues to be accessed safely, with the resulting average post-cash out LTV of 66 percent at near 10-year lows and the average credit score above 750.”Much like the negative equity situation, tappable equity is geographically concentrated as well, although in different areas, he said. The top 10 metropolitan areas contain half of all available lendable equity, and California alone accounts for nearly 40 percent, despite having only 16 percent of the nation’s mortgages.Click here to view the entire Mortgage Monitor for November. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Week Ahead: The Falling National Foreclosure Rate Next: Regulator Releases HSBC from Consent Order About Author: 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. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 1Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Borrowers are Getting Back Into the Black January 8, 2017 3,405 Views  Print This Post Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

California Gubernatorial Candidates on the State’s Housing Crunch

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Long Road to Recovery for Ohio and Foreclosures Next: Collingwood’s Tim Rood: Moving Mortgage Forward The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago As home prices in the western U.S. continue to climb, candidates for the California governorship are offering up solutions to tackle the crisis. At a recent conference in Sacramento hosted by the advocacy group Housing California, six leading gubernatorial candidates spoke on the costs of new homes and rising rates of homelessness in their state.Data from the S&P CoreLogic Case-Shiller National Home Price Index shows that the western U.S. is home to some of the hottest markets in the country, and the candidates for governor will undoubtedly be expected to address these housing concerns.Former San Francisco Mayor and frontrunner Democratic candidate Gavin Newsom has pushed for 3.5 million homes to be built within seven years, which his rivals have called “unrealistic.””The problem with being audacious is no one thinks it can be done,” Newsom said.Other Democratic candidates, including Antonio Villaraigosa and John Chiang, have called for similar drastic programs. Villaraigosa suggested increasing the current housing subsidy from $4 billion to $6 billion, while Chiang set a building goal similar to Allen’s, which he capped at a more “realistic” 1.6 million units within a decade.Republican candidates John Cox and Travis Allen, however, view government housing subsidies as more detrimental than helpful, noting the high taxpayer cost such programs would bring.”The California Democrats do not need to saddle Californians with even more debt,” said Allen. “This is the entirely wrong approach.”Cox proposed that the first step toward more housing was to eliminate some of the environmental and other regulations in order to reduce costs and time involved in construction.”They can subsidize a few thousand homes somewhere and that might help a few thousand people,” Cox said, “but it’s not going to help the hundreds of thousands who are living day-to-day spending 40 to 50 percent of their income on housing.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / California Gubernatorial Candidates on the State’s Housing Crunch Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 13, 2018 1,669 Views  Print This Post About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days agocenter_img Sign up for DS News Daily California Gubernatorial Candidates on the State’s Housing Crunch Demand Propels Home Prices Upward 2 days ago Tagged with: Affordable Housing Affordable Housing Crisis California Governor HOUSING housing shortage inventory shortage Subsidies in Daily Dose, Featured, Foreclosure, Government, Headlines, Journal, News Servicers Navigate the Post-Pandemic World 2 days ago Share Save Related Articles The Best Markets For Residential Property Investors 2 days ago Affordable Housing Affordable Housing Crisis California Governor HOUSING housing shortage inventory shortage Subsidies 2018-03-13 Seth Welborn 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. Subscribelast_img read more

Balancing Cost and Quality in Servicing

first_imgHome / Daily Dose / Balancing Cost and Quality in Servicing Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save ServiceMac, a mortgage sub-servicer for banks, investment firms, mortgage bankers, and credit unions has selected IndiSoft’s RX Office Compliance platform to support its enterprise-level quality assurance and quality control processes.“As we round out our technology partners to complete our vision of a unique mortgage sub-servicing solution designed for the digital age in mortgage banking, IndiSoft’s RX Compliance platform is critical in addressing the constantly changing regulatory landscape to ensure superior, cost-effective governance,” said Bob Caruso, CEO for ServiceMac.IndiSoft’s AI-enabled regulatory compliance technology will assist ServiceMac’s adherence to federal, state and investor guidelines, enforcement actions, administrative rulings, court decisions, and internal policies and procedures. Previous: Homebuyers Stretching Budgets for the American Dream? Next: The Wolf Firm Expands to the Northwest, Makes New Appointments in Daily Dose, Featured, News, Servicing Balancing Cost and Quality in Servicing AI Banks IndiSoft laons mortgage ServiceMac Servicing Technology 2019-02-27 Radhika Ojha “Working with a new sub-servicing enterprise, led by Bob and his team, is an exciting opportunity for us. ServiceMac is modernizing the mortgage sub-servicing model unburdened by the need to upgrade or convert from a multitude of legacy and end-user systems,” said Hans Rusli, CEO, IndiSoft LLC. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: AI Banks IndiSoft laons mortgage ServiceMac Servicing Technology ServiceMac focuses on providing technology, products, and services for the mortgage industry backed by personalized service and support. Through continuous innovation and acquisition, its offerings are comprised of personalized solutions that span the mortgage continuum and enhance security, customer satisfaction, and profitability.IndiSoft LLC is a software development and product company specializing in delivering collaborative technology solutions to a wide range of businesses in the financial services and health care industries. The company’s RX Office Management Solution is its patented technology offering and has been adapted for numerous stakeholders in mortgage banking, law, insurance, education, health care, consumer-facing applications, and the housing advocacy sector. About Author: Radhika Ojhacenter_img Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribe 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post February 27, 2019 1,257 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily last_img read more

Housing’s Impact on Economic Growth

first_img default Economy Equity HOUSING Underwater 2019-07-18 Seth Welborn  Print This Post Tagged with: default Economy Equity HOUSING Underwater Share Save 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. Sign up for DS News Daily Home / Daily Dose / Housing’s Impact on Economic Growth Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Homeownership Rates Missing the Mark Next: Reforming Fannie and Freddie The Best Markets For Residential Property Investors 2 days ago A new report from CoreLogic examines how housing has played a part in what is now the longest economic expansion on record. According to a CoreLogic special report, titled “The Role of Housing in the Longest Economic Expansion,” in July 2019,  the United States’ economic expansion reached 121 months. The economy has continued to grow since the recession ended in 2009, and with housing comprising approximately 15% of GDP since 2010, the real estate market is an important indicator of economic health.“During the last nine years, the expansion has created more than 20 million jobs, raised family incomes and rebuilt consumer confidence,” said CoreLogic Chief Economist Frank Nothaft. “The longest stretch of mortgage rates below 5% in more than 60 years has supplemented these factors. These economic forces have driven a recovery in home sales, construction, prices and home equity wealth.”In Q1 2019, the total percent of homes underwater went from 25.9% in the first quarter of 2010 to 4.1% in the first quarter of 2019. Meanwhile, home equity reached $15.8 trillion up from $6.1 trillion in 2019. Additionally, CoreLogic notes that home flipping has increased significantly since the recession, reaching its highest point 11.4% in 2018. The number of homes underwater dropped by over 21 percentage points to 4.1% in the first quarter of 2019, while the biggest drop (6.2%) occurred between 2012 and 2013 when the share of homes with negative equity went from 22.4% to 15.5%, driven in part by  a 10.2% rise in home prices. “Home prices have increased steadily since 2011, creating record amountsof home equity and putting homeowners in a good position to weather future downturns,” said Molly Boesel, Principal Economist, CoreLogic.According to CoreLogic, concerns over an imminent recession have been rising as the economy continues to progress. In the housing economy, while home prices are still growing, they aredoing so at a slower pace. Home prices increased just 3.6% year over year in May 2019, down from 4.1% in January. Additionally, housing starts in May 2019 underperformed, dropping 0.9% below the revised April estimate. “We expect the housing market to enter a normalcy phase over the next 24 months,” said Ralph McLaughlin, Deputy Chief Economist. “With prices neither rising too fast nor too slow, and with a growing stream of young households looking to buy homes over the next two decades, the long-term view looks healthy.” in Daily Dose, Featured, Government, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago July 18, 2019 1,260 Views About Author: Seth Welborn Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Housing’s Impact on Economic Growth Subscribelast_img read more

The Best Markets For Residential Property Investors

first_img Previous: Governmental Measures Target Expanded Access to Affordable Housing Next: Servicers Navigate the Post-Pandemic World 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.  Print This Post Sign up for DS News Daily Florida takes the top spot for what the authors of a new report call “profitable investing,” followed by Dallas/Fort Worth, Washington D.C., Atlanta, and Houston.A Q1 report from MyHouseDeals.com, an online community for residential real estate investors, provides data about which market areas and deal types are available.”2020 was a historic year as the U.S. navigated the coronavirus pandemic. The residential real estate industry thrived as historically low mortgage interest rates led to unprecedented demand. Strong market conditions have extended into 2021. While mortgage rates have crept up a bit, the market is still red-hot and pricing wars are commonplace,” according to the MyHouseDeals report.During the first quarter of 2021, MHD says it added thousands of deals in the following categories:Wholesale real estate deals (76.9%)Investor-ready foreclosures (18.1%)Motivated MLS deals (4.4%)Motivated seller deals (0.5%)Realtor.com recently named another metro area, Canton, Ohio, one of the best places for real estate investors.”Pre-pandemic, Canton made the list of our 20 hottest housing markets thanks to its affordability,” noted Realtor.com’s Elena Cox. “With a median listing price about half the national median of $375,000, Canton is the most budget-friendly metro on our list—it’s also a good place for investors who want to turn single-family homes into rentals.”Joey Marino with Whipple Auction and Realty has worked with buyers from all over the country, including Las Vegas, the Carolinas, and New York, who are looking to purchase investment properties in Canton.“The rents are not near as high as what you would get in New York City, but the return on investment can still get you 1% or more monthly,” Marino told Realtor.com.Single-family home rentals remained a strong market for investors during the last year with good prospects ahead, despite the challenges for owners of other rental properties as a result of the COVID-19 pandemic moratoria, DS News reported in its May 2021 print edition.“The single-family home rental market is absolutely on fire,” Jeff Pintar, CEO, Pintar Investment Company told DS News, echoing the sentiments of other market experts. “In all aspects of it, it’s continued to get stronger and stronger and has continued to evolve. The operational efficiencies of this business are actually far better than multifamily or other asset classes.”“Most of our customers are adding to their portfolios right now,” added Bill Tessar, President, Civic Financial Services.With home prices rising to incredible heights, all-cash offers on houses are winning bidding wars, says Realtor.com, and cash buyers are typically real estate investors or people looking for second homes.Thus, the ability to pay cash for a property investment gives one an edge, and the folks at MHD suggest studying the data maps in this Q1 2020 report, which includes an ARV per market area graph, at MyHouseDeals.com. Subscribe Demand Propels Home Prices Upward 1 day ago Share Save The Best Markets For Residential Property Investors Is Rise in Forbearance Volume Cause for Concern? 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2021-05-28 Christina Hughes Babb Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Best Markets For Residential Property Investors The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2 days ago 235 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 1 day agolast_img read more

Two car crash closes Letterkenny’s Port Road

first_imgNews By News Highland – October 17, 2012 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton A two vehicle crash has led to the closure of the Port Road in Letterkenny.The crash, at the Clanree Hotel, occurred at around 6 o’clock this (Wednesday) evening.Gardai say the Port road will be closed for a number of hours (as of 6.15pm) while the collision is dealt with.No details of injuries have been released. Google+ Guidelines for reopening of hospitality sector published Facebook Google+ Two car crash closes Letterkenny’s Port Road Pinterest Twitter WhatsAppcenter_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Previous articleInishowen Community Radio shut downNext articleHigh Court to reserve judgement on West Donegal subsidence case News Highland WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook Twitter Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Councillor says diversion of development levy money to Irish Water will hinder council

first_img Three factors driving Donegal housing market – Robinson Google+ Twitter GAA decision not sitting well with Donegal – Mick McGrath Guidelines for reopening of hospitality sector published Pinterest Councillor says diversion of development levy money to Irish Water will hinder council By admin – April 13, 2015 Nine Til Noon Show – Listen back to Wednesday’s Programme Facebook WhatsApp Google+center_img WhatsApp Pinterest Previous articleMc Conalogue calls for “genuine conversation” on future of one teacher schoolsNext articleMcIlroy takes positives as Spieth wins Masters admin RELATED ARTICLESMORE FROM AUTHOR Sinn Féin Councillor John Shéamais Ó Fearraigh has described plans to force local authorities to hand over development levy funds to Irish Water as scandalous.The levy which in recent years was charged on new developments by local authorities throughout the country is now to be transferred to Irish Water because of a vesting order which was signed by Minister Alan Kelly late last week.Members of the Right2Water campaign will picket today’s reconvened meeting of Donegal County Council.Cllr O’Fearraigh says this is another blow to the council and will hinder funding for other services in the county……………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/jsoflevy.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter Facebook Calls for maternity restrictions to be lifted at LUH Homepage BannerNews LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamiltonlast_img read more

Preliminary agreement reached on European Maritime and Fisheries Fund

first_img Main Evening News, Sport and Obituaries Tuesday May 25th Gardai continue to investigate Kilmacrennan fire By News Highland – February 11, 2014 365 additional cases of Covid-19 in Republic Preliminary agreement reached on European Maritime and Fisheries Fund Facebook Further drop in people receiving PUP in Donegal 75 positive cases of Covid confirmed in North WhatsApp Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Pinterestcenter_img News Google+ Previous articleJustice Minister to brief cabinet over bugging claimsNext articleCalls made on Government to find solution to ‘Lost at Sea’ case News Highland WhatsApp Pinterest A preliminary agreement has been reached on the European Maritime and Fisheries Fund, which provides for a number of supports for the fishing sector.The European Parliament, the European Commission and the Council of Ministers have approved the terms, but it must now be agreeed between the EU and the member states.Among the provisions are a new scheme for young fishermen under the age of 40, funding to help small ports affected by a decline in fish landings, a targeted de-commissioning scheme and supports for producer organisations and the processing sector.North West MEP Pat the Cope Gallagher is welcoming the latest progress, but says part of the focus now switches to the Irish Government………….[podcast]http://www.highlandradio.com/wp-content/uploads/2014/02/cope830.mp3[/podcast] Facebook Google+ Twitter RELATED ARTICLESMORE FROM AUTHORlast_img read more