Pennsylvania Housing Market Sees Q3 Gains

first_imgSign up for DS News Daily Related Articles Demand Home Prices Housing Inventory Housing Market Pennsylvania 2014-10-13 Tory Barringer in Daily Dose, Featured, Market Studies, News October 13, 2014 923 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Pennsylvania Housing Market Sees Q3 Gains The Best Markets For Residential Property Investors 2 days ago Previous: Zombie Foreclosures Result in Millions of Delinquent Tax Revenue Dollars Next: DS News Webcast: Tuesday 10/14/2014 Servicers Navigate the Post-Pandemic World 2 days ago Share Save About Author: Tory Barringer Subscribe Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Despite an uptick between the second and third quarters, home sales in the state of Pennsylvania failed once again to hit 2013 levels, according to data released Monday by the Pennsylvania Association of Realtors (PAR).PAR’s latest quarterly housing report shows closed sales statewide totaled 41,371 in Q3, up 5.1 percent from the previous quarter. Year-over-year, third-quarter sales fell short 1.1 percent.Though sales in Pennsylvania have been down annually for every quarter so far in 2014, the gap has narrowed over the year, halving from 4.3 percent in Q1 to 2.0 percent in Q2 and again to 1.1 percent in Q3.”Throughout Pennsylvania we’re seeing continued signs of a stabilizing market,” PAR President Kim Skumanick said. “Although home sales across the commonwealth remained relatively unchanged, we still see positive signs in the marketplace.”The median home sale price in the state last quarter was $176,000, up 3.5 percent quarter-over-quarter and only 0.6 percent year-over-year. The median sales price reached $175,000 in Q3 2013 before slipping for the next two quarters, PAR reported.On the inventory side, the stock of for-sale homes in the state climbed 7.3 percent compared to last year, hitting a recovery high of 116,346. The increase came even as new listing activity slowed down, dropping 16.5 percent from the second quarter as the summer came to a close. Compared to last year, listings were up 5.2 percent.Meanwhile, demand remained steady among Pennsylvania homebuyers: Throughout the quarter, the average number of days between a property’s listing and its sale was 75, down 3.8 percent year-to-year and 10.7 percent quarter-to-quarter. Tagged with: Demand Home Prices Housing Inventory Housing Market Pennsylvania 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 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Home / Daily Dose / Pennsylvania Housing Market Sees Q3 Gainslast_img read more

House Votes to Delay Key Provision of Dodd-Frank Act

first_img Dodd-Frank Act U.S. House of Representatives Volcker Rule 2015-01-14 Brian Honea House Votes to Delay Key Provision of Dodd-Frank Act Related Articles Demand Propels Home Prices Upward 2 days ago January 14, 2015 1,465 Views in Daily Dose, Featured, Government, News Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Dodd-Frank Act U.S. House of Representatives Volcker Rule The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / House Votes to Delay Key Provision of Dodd-Frank Act Share Save Previous: FHFA Outlines 2015 Goals for Fannie Mae, Freddie Mac Next: DS News Webcast: Thursday 1/15/2015 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea With the Republican majority now in place, the U.S. House of Representatives voted on Wednesday to pass a bill that eased some portions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, according to multiple media reports.The bill passed by a vote of 271 to 154, with 29 Democrats voting in favor of it. Nearly all of the Republican representatives (242 out of 246) voted in favor of the bill. On Monday, the White House threatened to veto the bill if it should pass.A key part of the new bill delays the implementation of part of the “Volcker Rule,” a key piece of the Dodd-Frank Act that limits risky trading by financial institutions. The portion of the Volcker Rule delayed by the new bill had previously been put off by the Federal Reserve until 2017. The new bill gives financial firms another two years (until 2019) to sell off collateralized loan obligations, or bundled debt. Financially industry lobbyists have pushed for the further delay, which will keep them from having to sell off their investments in a fire sale.The new bill will also allow some private equity firms an exemption from registering with the Securities and Exchange Commission, relax derivative regulation, and permit the omission of historical financial data in filings by some small, publicly traded companies, according to reports.Republicans have promised to take aim at the Dodd-Frank Act since they gained a majority in both the House and Senate in November’s elections. The Dodd-Frank Act was passed in response to the financial crisis and it was intended to protect consumers and prevent another similar economic downturn, but Dodd-Frank opponents believe that the legislation embodies overregulation and as a result has had the opposite of its intended effect.Democrats, led by Senator Elizabeth Warren (D-Massachusetts), one of Dodd-Frank’s fiercest backers and the creator of the controversial Consumer Financial Protection Bureau, have vowed they will fight against any attempts by Republicans to chip away at Dodd-Frank. The new bill moved through the House quickly, but is not likely to gain the support in the Senate needed to override a presidential veto. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Leading Economic Indicators Advance for Fourth Month in a Row

first_imgHome / Daily Dose / Leading Economic Indicators Advance for Fourth Month in a Row Servicers Navigate the Post-Pandemic World 2 days ago Leading Economic Indicators Advance for Fourth Month in a Row Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Data Provider Black Knight to Acquire Top of Mind 2 days ago January 23, 2015 1,261 Views Previous: Titan Capital Solutions Now Buying ‘Scratch and Dent’ Loans Next: Mississippi Has Highest Delinquent Mortgage Rate Again The Best Markets For Residential Property Investors 2 days ago About Author: Tory Barringer Subscribe Related Articles  Print This Postcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Conference Board Housing Starts Jobs Leading Indicators Conference Board Housing Starts Jobs Leading Indicators 2015-01-23 Tory Barringer 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 in Daily Dose, Featured, Market Studies, News Share Save A measure of leading U.S. economic indicators rose again in December, advancing for a fourth straight month as most components improved.The Conference Board’s Leading Economic Index (LEI), which gauges the near-term economic outlook based on a variety of indicators, increased 0.5 percent in December to 121.1, the group reported Friday. The increase fell between November’s gain of 0.4 percent and October’s larger 0.6 percent improvement.Conference Board economist Ataman Ozyildirim said December’s gain was driven by growth in a majority of its components, “suggesting the short-term outlook is getting brighter and the economy continues to build momentum.”There remain a few problem areas, however.”[A] lack of growth in residential construction and average weekly hours in manufacturing remains a concern,” Ozyildirim said.Despite recently seeing their strongest year in more than half a decade, housing starts are still running below their long-term average of about 1.5 million annually—and that situation isn’t expected to normalize for at least another few years, if economists’ forecasts are right.At the same time, other indicators look good: Job growth remained strong to finish out 2014, and consumer confidence is slowly coming up as Americans express more optimism in their financial prospects. Those trends helped push the Conference Board’s gauge of current economic conditions up 0.2 percent to 111.4.The final measure, the Lagging Economic Index, also climbed, matching November’s 0.3 percent gain to reach 115.0.”Current economic conditions measured by the coincident indicators show employment and income gains are helping to keep the U.S. economy on a solid expansionary path despite some weakness in industrial production,” Ozyildirim said.last_img read more

First Mortgages Spike Credit Unions to Record High

first_imgHome / Daily Dose / First Mortgages Spike Credit Unions to Record High The Best Markets For Residential Property Investors 2 days ago August 11, 2016 1,110 Views A spike in first mortgages, along with increases in new and used auto loans, helped to push credit union loan balances up to a record high in the second quarter, according to Q2 data from Callahan & Associates released Thursday.Those three categories accounted for 81.6 percent of loan growth at credit unions last year, according to Callahan & Associates’ analysis. In Q2 2016, a 10.7 percent over-the-year increase resulted in credit union loan balances topping $834.3 billion. The previous all-time high was $809 billion, set in the first quarter of 2016. The included 5,959 credit unions which reported second quarter data.In Q2, first mortgages accounted for 37.6 percent of total loan growth at credit unions after a spike of 9.8 percent over-the-year. The substantial increase resulted in an aggregate loan balance of more than $340.7 billion in first mortgage loans for credit unions, the highest balance ever reported for any one quarter.“What this tells us about the industry is that credit unions are continuing to find success by appealing to and working with their members, to provide them with the financial solutions they need,” Callahan & Associates’ Director of Industry Analysis Sam Taft said. “The credit union industry has had a lot of success over the past few years expanding its presence in the first mortgage market; credit union market share has risen from 5.7 percent in June 2011 to 7.3 percent in June 2016. I believe as awareness builds, consumers are increasingly seeing the benefits of banking with credit unions. Related to this, thinking in terms of the broader market, the fact that credit unions have been able to increase their piece of the pie shows that there is both opportunity and demand in the market for financing that isn’t being filled by the large banks and mortgage finance companies.”Originations were a heavy contributor to that increase, totaling $62.6 billion for the first half of 2016—an increase of 1.7 percent from the first half of 2015 and the highest aggregate amount loaned for the first half of any year since 2013, according to Callahan & Associates. 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Previous: Top 10 States for Foreclosures in Q2 Next: Opportunity in Housing Lies with 55+ Population Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Tagged with: Credit Unions First Mortgages Related Articles Demand Propels Home Prices Upward 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago First Mortgages Spike Credit Unions to Record High The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Credit Unions First Mortgages 2016-08-11 Kendall Baer Subscribelast_img read more

Get a Move On

first_img  Print This Post 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 Home / Daily Dose / Get a Move On Subscribe Nominations 2017-07-18 Brianna Gilpin Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago July 18, 2017 1,084 Views Get a Move On The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: How Many Borrowers Can’t Afford Their Mortgage? Next: The Home Equity Problem for Generation X Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Wednesday, U.S. Senator Mike Crapo (R-Idaho) took the stage during the full committee hearing on the nominations of six individuals for the U.S. Senate Committee on Banking, Housing, and Urban Affairs.According to a recent report by Laren Yourish and Gregor Aisch from The New York Times, President Trump has filled quite a few less positions in cabinet or cabinet-level agencies than President Obama had at this point in his presidency. Currently, Ben Carson has been confirmed as the Secretary and Pamela Patenaude is awaiting confirmation as Deputy Secretary.The nominees discussed in the hearing will be taking key leadership roles within the administration, but don’t need to be nominated by the president.“The nominees before us are Paul Compton, to be HUD General Counsel; Anna Farias to be HUD Assistant Secretary for Fair Housing and Equal Opportunity; Neal Rackleff to be HUD Assistant Secretary for Community Planning and Development; Richard Ashooh to be Assistant Secretary of Commerce for Export Administration; Elizabeth Walsh to be Assistant Secretary of Commerce for Global Markets and Director-General of the United States and Foreign Commercial Service; and, Christopher Campbell to be Assistant Secretary of the Treasury for Financial Institutions,” Crapo said.Crapo, who went into detail on the history each candidate had and how it applied to their nominated position, went into depth about Campbell who currently serves as staff director for the Senate Finance Committee. Crapo said senators from the left and right alike have looked to him for policy insights and strategy, but knowing him well from his experience also in the Financial Committee, Crapo said he looks forward to also working closely with him and the other nominees to get legislation passed into law as one of Crapo’s top priorities is passing bipartisan legislation.“I urge my colleagues to confirm all six of you without delay,” Crapo said. “This committee will continue its work to push nominations through as expeditiously as possible so that our agencies have all the personnel they need to tackle the critical issues facing our country.” Tagged with: Nominations 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] About Author: Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily last_img read more

How Much Does it Cost to Keep a Home?

first_img Related Articles How Much Does it Cost to Keep a Home? in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Tagged with: Home Maintenance mortgage Porch.com Renovation Home Maintenance mortgage Porch.com Renovation 2018-08-13 Radhika Ojha 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 Demand Propels Home Prices Upward 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago August 13, 2018 2,305 Views Previous: Courts Address Condo Laws, But Questions Remain Next: Ellie Mae Launches Latest Release of Encompass Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago When it comes to setting aside money to maintain the home one buys, conventional wisdom suggests setting aside 1 percent of the homes total cost for annual routine maintenance expenses.But a new study by Porch.com found that conventional logic to be lacking in the face of actual costs to maintain a home. Nationally, according to the study, it costs on average just over $16,000 a year to maintain a home properly. That number gets higher in 19 states and Washington, D.C., though.In particular, it’s most expensive to maintain a home in the Northeast. In New Jersey and Washington, D.C., the average annual maintenance cost is above $18,000. In Connecticut and Maryland, it’s above $17,000, the report stated.The South, in general, is where it costs least to maintain the average home. Annual maintenance in Mississippi was just below $15,000. In West Virginia and Arkansas, annual costs averaged just above the $15,000 mark, the report found.But even so, state averages take into account some large fluctuations at the ZIP code level. Take Illinois, where the state average for annual maintenance costs is about $16,300. But in Kenilworth, about 20 miles north of Chicago, the median cost to buy a home is nearly $1.5 million, and the average annual cost to maintain the median home is $27,661, according to Porch. Meanwhile, Hutsonville, about 200 miles due south of Chicago, on the Indiana border, averaged roughly $12,600 in annual maintenance fees, the report found.In some states, the difference between the most and least expensive properties to maintain (by ZIP code) can be enormous. In Illinois, the above example spells out a 120 percent differential. New York and California are close, with differentials of 117 and 114 percent, respectively.On the other end of the spectrum, Idaho, Rhode Island, Hawaii, and Louisiana had the smallest percentages between cities with the most expensive cost of housing upkeep and the least expensive. The difference from most to least expensive in Louisiana is 42 percent; for the others, it’s 35 to 36 percent.Much of the expenses associated with annual maintenance come from amenities like pools, Porch reported.“If you decide to buy a house with a pool, expect to pay for cleanings roughly every two months,” the report stated. “At an average of $105 per job, that’s no small commitment.”There’s also replacing the pool filter once every couple years, typically at a cost around $1,800 a pop. Add this onto the cost of lawn maintenance and money set aside for renovations or one-off projects like plumbing or roof work, and the dollars add up, the report found. Home / Daily Dose / How Much Does it Cost to Keep a Home? 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. About Author: Scott Morgan  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

The Week Ahead: Home Values and Affordability

first_img Tagged with: Home Prices the week ahead September 20, 2019 1,248 Views Subscribe Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago On Tuesday, the Federal Housing Finance Agency (FHFA) will release its latest Housing Price Index for July 2019, a measure of nationwide home prices as well as the fastest and slowest growing metro areas. The FHFA’s previous release for Q2 2019 showed house prices increased 1% and had a year-over-year growth of 5%.Prices have risen for 32 consecutive quarters and in every state. Idaho had the highest appreciation of 11.4%, and was followed by Utah (7.7%); Tennessee (7.2%); Georgia (6.9%); and Arizona (6.9%).Delaware had the smallest annual appreciation at 1.2%. The last time home prices depreciated during the second quarter of a year was in 2011 when prices fell 5.6%.The FHFA reported, however, that the price-growth from 2018-2019 in the New England region is just 3.6%, compared to 5.2% from 2017-2018.New York came in at No. 37 for annual appreciation across the nation. Home prices in New York have grown by 24% over the past five years.The New York State Association of Realtors revealed the median-sales price rose for 43rd consecutive month in July to nearly $300,000, as sales are struggling to keep up.Average-sales prices rose to $299,950, which is a 7.1% year-over-year increase.“With an economy growing slower than the prices of homes, it is still leaving buyers struggling with affordability in some markets,” the report states. “The good news for home buyers continues to be interest rates. In July, a 30-year fixed mortgage rate fell to 3.77%, according to Freddie Mac.”Here’s what else is happening in The Week Ahead:First AM Real House Price Index (Sept. 23)S&P CoreLogic Case Shiller HPI (Sept. 24)Census Bureau’s New Residential Sales Survey (Sept. 25)NAR Pending Home Sales Index (Sept. 26) The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Home Values and Affordability 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. About Author: Seth Welborn Home Prices the week ahead 2019-09-20 Seth Welborn Share Save Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Recognizing Exemplary Working Cultures Next: Rising Rent, Falling Incomes Keeping Millennials from Homeownership Home / Daily Dose / The Week Ahead: Home Values and Affordability Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 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 in Daily Dose, Featured, Market Studies, News  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Majority of Homeowners Concerned About Mortgages

first_imgHome / Daily Dose / Majority of Homeowners Concerned About Mortgages March 24, 2020 880 Views in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Related Articles Sign up for DS News Daily About Author: Seth Welborn Tagged with: mortgage According to Johns Hopkins’ Coronavirus Resource Center, 353,692 cases of Coronavirus around the world and 15,430 deaths have been reported so far, leading many Americans to worry about their finances. Among those surveyed by LendEDU, 54% of all Americans are concerned about their mortgage, and that number jumps to 96% among those that have already lost their job.“Widespread delinquency or default would have severe implications on the economy at large,” LendEDU states. “In an attempt to combat this, we have seen the Trump Administration waive further accruing interest on student loans and suspend all evictions and foreclosures until April for FHA-insured mortgages.”Additionally, of the respondents who stated that they were actively invested in the stock market, 79% stated that they have lost money. However, according to JPMorgan, stocks may be able to bounce back. According to Dubravko Lakos-Bujas, Chief U.S. Equity Strategist at JPMorgan, the S&P 500 can reach 3,400 in early 2021, as long as U.S. efforts to contain the coronavirus outbreak work. In a letter to clients, Lakos-Bujas wrote that he expects the S&P 500 to reach 3,400 in early 2021.“Acknowledging that equity markets globally are now down 30-50% from their recent highs, and that investor positioning has become increasingly favorable, we see an asymmetrical return profile for equities with upside significantly higher than downside over the next year,” Lakos-Bujas wrote.CNBC reports that for this scenario to play out, the U.S. government must pass a “comprehensive fiscal package promptly.”“Aggressive fiscal policy needs to be undertaken immediately,” Lakos-Bujas said, noting that failure to pass such measures “would likely result in a broader capitulation of equities including the heavyweight momentum stocks.”S&P Global Ratings believes the effects of the COVID-19 pandemic have likely pushed the world economy into recession, dragging full-year GDP global growth down to just 1-1.5%. Share Save 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. The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img 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 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Majority of Homeowners Concerned About Mortgages mortgage 2020-03-24 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Previous: Possible $2.5T Stimulus Bill Brings Optimism Next: CFPB Updates Consumers on Forbearance Options The Best Markets For Residential Property Investors 2 days agolast_img read more

Evolving Answers: ‘What Do Americans Want in a Home?’

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago What do Americans want in a home? COVID-19 has led to a change in the ways consumers might answer that question.Some obvious responses—space, comfort, bigger yards, simpler surroundings, lower payments—have emerged about a year into the pandemic. The latest Bank of America study gave the industry some new ideas to consider.Bank of America’s 2021 Homebuyer Insights Report showed that a vast majority of shoppers seek “vibrant and connected communities,” good neighborhoods, and improved technology in the home. Some buyer desire is a result of regularly seeing into others’ homes, virtually. In addition, during a time in which America faces economic uncertainty and, in fact, our own mortality, many appear to be revaluating bigger-picture lifestyle choices, including the importance of homeownership when it comes to building wealth.“Over the last year, people have had plenty of time at home to reassess their priorities and goals, including how their living space and surroundings fit into their lives,” said AJ Barkley, SVP, Neighborhood Lending and Retail Sales East Executive, Consumer Lending at Bank of America. “We know homeownership remains as important as ever, especially for younger generations looking for that sense of community.”It has been well established that homes nationwide are selling at record-high prices and faster than ever. While low housing inventory and low interest rates are often factors in property purchasing decisions, Bank of America’s 2021 Homebuyer Insights Report found that a sense of community and good neighbors also are key priorities for today’s homebuyer.According to the survey of 2,000 adults who currently own a home or plan to in the future, half (51%) of younger buyers,  those ages 18 to 43, and nearly one third (32%) of those ages 57 to 75 say “community” has become more important over the past year. Specifically, people want neighbors who share similar interests (73%) and are active in the community (70%).”Along with a desire for more space and smart home technology, individuals are looking for a sense of connectedness and belonging when it comes to where they live,” according to the authors of the report.Interestingly, the report shows that the desire to keep up with the Joneses, so to speak, has evolved beyond competition over who has the greenest yard or nicest car in the driveway, now that people regularly see one anothers’ homes due to stay-home recommendations.According to the Bank of America report, “the past year has also given people a peek into the homes of their coworkers, family, and friends amidst the virtual environment. Three quarters (75%) have participated in video calls, and of this group, 37% have gotten ideas for something to do in their own home. A quarter (25%) have even asked others for information on where something was purchased or how a certain renovation was done based on what they saw.”The study also looks at the financial status of the demographics most likely to purchase a home during “these uncertain times.”Says BOA, 65% of “younger” homeowners reported their financial security has remained stable compared to 51% of non-homeowners in the same age group.”It’s no surprise that 18- to 43-year-old prospective buyers are eager to swap unpredictable monthly rents with steady monthly mortgage payments,” noted BOA.About 46% of respondents in that age group said building equity is now more important than ever.They reportedly recognize that homeownership is a way to build long-term stability.“Homeownership is one of the most positive drivers of wealth creation,” shares Barkley. “That’s why we recently tripled our financial commitment to affordable homeownership solutions, which include grants to help home buyers with their down payments and closing costs, with no repayment required.”View BOA’s Bank of America’s 2021 Homebuyer Insights Report at about.bankofAmerica.com. Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Evolving Answers: ‘What Do Americans Want in a Home?’ 2021-04-29 Christina Hughes Babb in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Share 2Save Related Articles Evolving Answers: ‘What Do Americans Want in a Home?’  Print This Post April 29, 2021 634 Views The Best Markets For Residential Property Investors 2 days ago 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Subscribe Demand Propels Home Prices Upward 2 days ago Previous: Servicer Amends Payment Mistakes  Next: Q1 Home Sellers Net Profit of $70K+ Demand Propels Home Prices Upward 2 days agolast_img read more

Northwest MEP fears Euro could fail

first_img WhatsApp By News Highland – December 1, 2011 Twitter Newsx Adverts WhatsApp Twitter Facebook Previous articleAldi’s new Letterkenny Store opens today creating 15 jobsNext articleDonegal fishing boat escorted to safety off Cork coast News Highland Northwest MEP fears Euro could fail Pinterest Calls for maternity restrictions to be lifted at LUH Google+center_img Pinterest Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Facebook Google+ NPHET ‘positive’ on easing restrictions – Donnelly Help sought in search for missing 27 year old in Letterkenny 448 new cases of Covid 19 reported today A Fine Gael MEP says he wouldn’t be optimistic about the outcome of next week’s crucial EU summit, where the future of the euro will be on the line.The pressure’s on leaders ahead of the meeting in Brussels next Friday, as concerns grow about the spread of the debt crisis in the single currency.Speaking in Brussels – where MEP’s have been debating the euro crisis, Northwest MEP Jim Higgins says the situation is dire:He believes there’s no ‘coherent plan on the table that will yield what we need’ – and that’s before politics come into the frame:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/11higgeuro.mp3[/podcast] Guidelines for reopening of hospitality sector publishedlast_img read more