Case-Shiller: Home Prices Fall Short of Market Expectations

first_img Previous: Existing-Home Sales Jump 4.9% in May Next: HUD, Real Estate Company Settle Allegations of Discrimination Case-Shiller credit First-time Buyers Home Prices 2014-06-24 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily June 24, 2014 931 Views The Best Markets For Residential Property Investors 2 days ago Share Save Tagged with: Case-Shiller credit First-time Buyers Home Prices Case-Shiller: Home Prices Fall Short of Market Expectations  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Home / Daily Dose / Case-Shiller: Home Prices Fall Short of Market Expectations Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Annual home price gains pulled back sharply in April, falling short of market expectations, a report released Tuesday shows.In its latest S&P/Case-Shiller Home Price Indices report, S&P Dow Jones Indices recorded an annual price increase of 10.8 percent among both the 10- and 20-city composites. Those figures compare to year-over-year increases of 12.6 percent and 12.4 percent, respectively.A consensus of economists surveyed by Econoday called for a gain of 11.4 percent in the 20-city index.Of the 20 cities tracked, 19 posted lower annual appreciation in April than in March, S&P Dow Jones reported, with only Boston coming out ahead.”Last year some Sunbelt cities were seeing year-over-year numbers close to 30 percent, now all are below 20 percent: Las Vegas (18.8 percent), Los Angeles (14.0 percent), Phoenix (9.8 percent), San Diego (15.3 percent), and San Francisco (18.2 percent),” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Other cities around the nation are also experiencing slower price increases.”Monthly numbers looked slightly more encouraging: In April, the 10- and 20-city composites posted respective increases of 1.0 percent and 1.1 percent, accelerating over March. Out of the 20 cities surveyed, all reported month-over-month appreciation.Though most markets nationwide still have some ground to make up before they return to their former peaks, higher costs and tighter credit have made it more difficult for some groups of buyers to reclaim their role in the market.”First time buyers are not back in force and qualifying for a mortgage remains challenging,” Blitzer said. “The question is whether housing will bounce back before the Fed begins to tighten sometime next year.”Recent numbers may indicate a little bit of hope on that front: On Monday, the National Association of Realtors reported a 4.9 percent month-over-month increase in existing-home sales in May—the strongest monthly increase since 2011—while the Census Bureau recorded an 18.6 percent spike in new home sales on Tuesday. Subscribelast_img read more

Crowdfunding for a Mortgage

first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Soon-to-be newlyweds regularly compile their wedding registries at locations like Target or Bed Bath and Beyond, but what about for a mortgage down payment?Mortgage Lender CMG Financial recently revealed their new platform HomeFundMe, which is essentially a crowdfunding website like GoFundMe that goes toward a down payment on a home without fees, but with the backing from the government-sponsored enterprises Fannie Mae and Freddie Mac.According to an article by CNBC, prior to HomeFundMe, down payment assistance could only come from family members, employers, community nonprofits, and churches as long as they had significant documentation. Lenders needed to be sure buyers weren’t borrowing for the down payment because that would mean they were adding debt on top of their mortgage payment, making them less likely to be able to make their mortgage.This unique idea is another way to assist millennials, who have openly said they are interested in homeownership, be able to put action to thought. Student loan debt is at an all-time high, and with high rent costs and low savings, the down payment on a house has kept homeownership seemingly out of reach for the generation.Additionally, prospective homeowners can attend free credit education classes and apply for grants of up to $2,500. Once they have done that, the platform will match donations at $2 for every $1 raised, up to $2,500.CMG has looked into the program regarding advertising dollars and believes that it’s something they would otherwise spend either through the internet or social media, so they’ve put their money where they think it has its best use.“Our tagline is, ‘Fund your way home,’” said Christopher George, CEO of CMG Financial to CNBC. “We think homeownership still is very sensible and, done correctly, is a good idea to step forward toward wealth, stability, and quality of life.”To read the full report, click here. October 5, 2017 1,914 Views  Print This Post Crowdfunding 2017-10-05 Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago Tagged with: Crowdfunding Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Related Articles About Author: Brianna Gilpin Demand Propels Home Prices Upward 2 days agocenter_img Crowdfunding for a Mortgage Home / Daily Dose / Crowdfunding for a Mortgage The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Waters Introduces Bill Targeting Big Banks Next: Mortgage Free Baby Boomers? The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Subscribelast_img read more

High Tax Assessments Possible Cause for Growing Foreclosure Rate

first_img 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 Tagged with: assessments Constitution Detroit foreclosure rate limit Michigan property values About Author: Dean Terrell Subscribe Demand Propels Home Prices Upward 2 days ago According to an article from The Washington Post, high assessments may be to blame for Detroit, Michigan’s foreclosure crisis. Two college professors, Bernadette Atuahene and Tim Hodges, published a study making the case that the property tax on thousands of homes’ were illegally assessed. In 2015, Detroit had one of the highest foreclosure rates at 3,949 foreclosures per 100,000 people.In an article from Detroit Free Press, Atuahene cited data from her previous study titled “Stagegraft” last year showing a consistent rate of tax assessments higher than what the Michigan State Constitution allows from 2009-2015. “In our study, we find that Detroit’s assessor is flagrantly violating this vital state constitutional provision” Atuahene told the Press.The Michigan constitution states homes cannot be assessed at more than 50 percent of its market value. However, data from Atuahene’s most recent report suggests that between 55 and 85 percent of homes were assessed well above the legal amount from 2008 to 2015, according to the Post. More than 160,000 homes have been foreclosed on in Detroit since 2002.Another important detail is how certain properties were targeted based on property values. Data showed cheaper properties were more likely to be assessed higher than the more expensive ones. In an interview, Atuahene states “We found in [the lowest priced homes] 95 percent or more were being assessed in violation of the Michigan constitution. But when you get to the highest valued homes, only 13 percent were assessed in violation.”In the article from the Post, Detroit Chief Assessor Alvin Horhn disputed the findings of the more recent study which is planned to be published next year. “Much of the data does not meet the standards of the State Tax Commission. Therefore its findings would not be applicable under Michigan law” Horhn told the Post. The Best Markets For Residential Property Investors 2 days ago Previous: Big Banks and FinTech: Do American Consumers Want Both? Next: Fannie Mae Makes Fifth Sale of Reperforming Loans High Tax Assessments Possible Cause for Growing Foreclosure Rate assessments Constitution Detroit foreclosure rate limit Michigan property values 2017-10-11 Dean Terrell in Daily Dose, Featured, Foreclosure, Journal  Print This Post The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago October 11, 2017 1,658 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / High Tax Assessments Possible Cause for Growing Foreclosure Ratelast_img read more

The Risks of First-Time Home Flipping

first_imgSign up for DS News Daily  Print This Post Demand Propels Home Prices Upward 2 days ago According to a Gallup poll, it’s real estate, not stocks, that are considered to be the best investment. The poll indicates that 35% of Americans believe real estate to be the superior long-term financial investment, compared to 27% who say they prefer stocks. However, Bloomberg reports that some first-time real estate flippers are feeling losses.“Flipping only works in an appreciating market where homes move quickly,” says Glen Weinberg, the Denver-based COO of Fairview Commercial Lending. “Those factors are now in flux, and that’s what’s going to lead to the demise of a lot of flippers.”According to Bloomberg, around 6.5% of of U.S. sales in the fourth quarter were flips, or homes sold within a year from when they last changed hands. That made for the highest share in seasonally adjusted data going back to 2002, according to CoreLogic. Per CoreLogic’s analysis, 45% of flips in the San Jose area lost money.One young investor, Sean Pan, who started flipping at 27, lost $400,000 on a property in Sunnyvale, California. Pan bought one home for $1.8 million after beginning the asking price down from $2 million, assuming he got a “sweet deal.” However, the home sold for $1.7 million, more than $80,000 less than what he paid for it.“When you buy these houses, you never think you’ll lose money,” he said. “I fixed it up. It should be worth more, but things change.”Bloomberg notes that most flippers are sinking money into renovations, unlike before the crisis, when investors would simply buy houses and then sell them immediately. Many hard-money loans, which come from private investment groups, often have high interest rates and low down payments and they include renovation costs in the loan amount.Weinberg states that, as competition between lenders heats up and many lenders offer 10% or lower down payments for flippers, he is being more selective, requiring a 40% down payment. The Risks of First-Time Home Flipping in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 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. Share Save May 9, 2019 1,928 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img 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 ago Previous: MQMR Hires Jeff Christensen Next: Joseph Grimes Joines Blue Water Advisory Board Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Flipping Home Sales Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Flipping Home Sales 2019-05-09 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Risks of First-Time Home Flipping Subscribelast_img read more

Report: No Immediate Impact on RMBS From Dorian

first_img Related Articles A new report by Fitch Ratings states that Hurricane Dorian is not expected to impact either commercial mortgage back securities (CMBS) or residential mortgage backed securities (RMBS) due to pool diversification, servicer advancing, and insurance coverage. Hurricane season, though, does bring severe storms that can impact loan performance. The report states that Fitch properties along the east and gulf coasts are susceptible to damage from hurricane or storm surges. Hurricane Dorian’s impact will be more modest than the hurricane season of 2017. Those hurricanes, most notably Harvey, Irma, and Maria, impacted residential mortgage performance temporarily, and delinquencies returned to pre-storm levels after 12 months. The impact of Hurricane Maria made mortgage delinquencies rise to 21.5% in November of 2017.It was reported earlier this year from the Insurance Journal that total losses from Hurricane Barry are expected to exceed $600 million. Additionally, public and private insurers paid out nearly $300 million according to the Aon Global Catastrophe Recap report.In a report earlier this year, CoreLogic reported that insured residential and commercial flood loss covered by the NFIP is estimated to be between $100 million and $200 million after Hurricane Barry, but 20% of residential flood loss is uninsured.CBS News reported that Hurricane Dorian made landfall Friday in North Carolina after being downgraded to a Category 1 storm. The storm has maximum winds of 90 mph and 350,000 residents in both North and South Carolina were without power. The storm’s eye came within 55 miles of Charleston, South Carolina, bringing heavy rain and wind gusts of more than 70 mph.Dorian’s strength has fallen dramatically after it ravaged the Bahamas for nearly two days as a Category 5 storm. The Washington Post reports that authorities three out of every four homes on Grand Bahama are underwater, and recovery “will cost billions of dollars.” The Post states that Prime Minister Hubert Minnis said Tuesday that the official death count has risen to seven, but expects that to increase as more of the damaged areas can be reached. “Parts of Abaco are decimated. There is severe flooding,” Minnis said. “There is severe damage to homes, businesses, other buildings and infrastructure.”Bahamas Deputy Prime Minister Peter Turnquest said the island’s infrastructure is “wrecked.” “With approximately 70% of the homes underwater, we anticipate tremendous social and economic dislocation and disruption in the short term,” Turnquest said in an interview with The Washington Post. “The mental health of those who have endured this monster storm is a priority concern of the government.  Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago September 6, 2019 1,019 Views  Print This Post Hurricane 2019-09-06 Mike Albanese The Best Markets For Residential Property Investors 2 days ago Tagged with: Hurricane Share Save Report: No Immediate Impact on RMBS From Dorian Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Home / Daily Dose / Report: No Immediate Impact on RMBS From Dorian About Author: Mike Albanesecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Loss Mitigation, News Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Previous: Efforts of Software Solutions Company Recognized Next: Aspen Grove to Honor Veterans Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Education Minister urges unions to return to talks as teachers protest reform

first_img Google+ By News Highland – May 7, 2015 Google+ Twitter Education Minister urges unions to return to talks as teachers protest reform WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterest Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published center_img Pinterest Thousands of Donegal teachers are taking part in a lunchtime protest today in opposition to proposals for Junior Cycle Reform.Teachers maintain the changes will will undermine standards, equity and fairness.The protesta are being organised by second-level teacher unions the ASTI and the TUI.Neill Curran is the Donegal representative for the ASTI – He says more strike action next term seems likely, particularly as parents are being supportive of the teachers’ action:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/05/neillasti.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.The Education Minister says as long as teaching unions maintain a complete veto on Junior Cert reform proposals, everyone loses.Minister O’Sullivan says she has moved considerably on the proposals and is urging unions to return to the talks table:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/05/janos10.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Three factors driving Donegal housing market – Robinson Facebook Homepage BannerNews Previous articleGallagher happy with Championship preparationsNext articleAction needed as Donegal GP numbers continue to fall – Pringle News Highland Twitter GAA decision not sitting well with Donegal – Mick McGrath Nine Til Noon Show – Listen back to Wednesday’s Programme last_img read more

Derry men arrested following Dublin robbery

first_imgNewsx Adverts WhatsApp Facebook Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHOR Pinterest Two men, thought to be from Derry are in garda custody after a taxi driver was hijacked at gunpoint in Dublin.The men bundled the driver into the boot of his car in Smithfield just after midday.They then drove to nearby Stoneybatter and lay in wait for a cash in transit delivery to a post office on Prussia Street.When the van arrived, the men approached the driver and ordered him to hand over the cash, before abandoning the taxi on Queen Street.The men were stopped by Gardai and the money was recovered. Guidelines for reopening of hospitality sector published WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week center_img Twitter Pinterest Facebook Derry men arrested following Dublin robbery Twitter By News Highland – June 8, 2010 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Calls for maternity restrictions to be lifted at LUH Previous articleGAA – Termon Ladies Win Gaeltacht TitleNext articleMan pleads guilty to attempting to rob Ballyshannon bank News Highland Google+last_img read more

Co Derry man to get retrial in Massareene murder case

first_img Minister McConalogue says he is working to improve fishing quota Dail to vote later on extending emergency Covid powers Co Derry man to get retrial in Massareene murder case Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitter Pinterest The Court of Appeal in Belfast has ordered that Brian Shivers face a retrial for the murders of two British soldiers at Massereene barracks in March 2009.The same court ruled yesterday that the convictions against the Co Derry man for murders of sappers Mark Quinsey, and Patrick Azimkar were unsafe.After the Public Prosecution Service applied for a new trial for the 47-year-old the three Appeal Court judges said it was in the public interest for them to grant the request.Defence lawyer Patrick O’Connor QC had claimed that a new trial would represent an “abuse of process”.He also argued that his client should have been acquitted at his original trial so a new case against him would effectively be contravening the law of double jeopardy.But the judges rejected the defence submission, insisting that their decision to quash the original convictions was founded on issues relating to judicial direction.They said the judge in the new trial could address any concerns over abuse of process.Earlier, applying for a retrial, Crown barrister Terence Mooney QC said Shivers still had a case to answer.Shivers’s appeal against additional convictions on six counts of attempted murder and one of possession of two firearms and ammunition with intent to endanger life was also allowed by the Court of Appeal.He will face a retrial on all original counts.The court will sit again this afternoon to deal with a bail application by Shivers’s legal team and set a date for the new trial. Facebook WhatsApp WhatsAppcenter_img Man arrested in Derry on suspicion of drugs and criminal property offences released 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Previous articleTripadvisor name Harvey’s Point as best hotel in IrelandNext articleJustice Minister says Donegal is not a unique case despite spate of burglaries News Highland Dail hears questions over design, funding and operation of Mica redress scheme Need for issues with Mica redress scheme to be addressed raised in Seanad also News Google+ Google+ By News Highland – January 16, 2013 Twitterlast_img read more

Into the West accuse Translink of “continuing discrimination” against Derry

first_img Twitter Into the West accuse Translink of “continuing discrimination” against Derry By admin – August 21, 2014 PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter WhatsApp Facebook WhatsApp Previous articleDonegal Premier League updateNext articleUpdate – Missing Derry man found admin 365 additional cases of Covid-19 in Republic News Google+center_img Dail to vote later on extending emergency Covid powers HSE warns of ‘widespread cancellations’ of appointments next week Man arrested in Derry on suspicion of drugs and criminal property offences released The rail lobby Into The West says that Derry is still discriminated against when it comes to development of the rail service.It gfollows the announcement that upgrade works are to proceed on the Belfast Dublin line, while the upgrade of the Derry line and of the historic Waterside Station lags far behind.The lobby group contrasts the treatment of the Belfast-Dublin line with the Derry line.’Into the West’ Spokesperson Eamon Mc Cann says this is despite the fact that passenger numbers on the Dublin line are decreasing – while numbers on the Derry line are increasing.He says this, along with the latest delay in a decision on the old Waterside Station, is symbolic of the way Derry is bring treated………………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/08/eamonweb.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. RELATED ARTICLESMORE FROM AUTHOR Facebook Google+ Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Pinterestlast_img read more

Mary Boyle’s sister to meet with MPs in Westminster

first_img Previous articleMagee’s bow out of French Open Super SeriesNext articleAlmost €24 million paid out to community organisations in Donegal admin 365 additional cases of Covid-19 in Republic By admin – October 23, 2015 The twin sister of Mary Boyle who went missing in 1977 will visit Westminster Tuesday next for a series of meetings led by MP Jeffrey Donaldson to address Garda failure and cross-border crime.A number of families have been invited to London to discuss the issues.It’s believed Ann Doherty will also reiterate her claim to know the identity of Mary Boyles alleged killer during this meeting.Mary Boyle went missing from her grandparents farm at Cashelard near Ballyshannon on the 18th of March 1977.Journalist Gemma O’Doherty says this will put the case on an international platform, in the hope that justice will be achieved:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/10/gemraw.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Main Evening News, Sport and Obituaries Tuesday May 25th Further drop in people receiving PUP in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Twitter Facebook 75 positive cases of Covid confirmed in North WhatsAppcenter_img Twitter Mary Boyle’s sister to meet with MPs in Westminster WhatsApp Gardai continue to investigate Kilmacrennan fire Google+ Google+ RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews Facebook Pinterestlast_img read more