Obama Administration Releases February Housing Scorecard

first_img Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, Market Studies, News, REO Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February edition of the Obama Administration’s Housing Scorecard on Friday. The report found that new home sales rose, foreclosure completion were down, and home prices remained stable.New home purchases rose to a seasonally-adjusted annual rate (SAAR) of 468,000, a 9.6 percent increase for the month of January. This increase was the highest since mid-2008, and 2.2 percent above January, 2013 sales.The government’s loss mitigation programs appear to working. The Making Home Affordable program (MHA) has executed over 1.9 million homeowner assistance actions, while the Federal Housing Administration (FHA) “has offered nearly 2.2 million loss mitigation and early delinquency interventions through January,” according to the report.”The standards set by the Making Home Affordable program and our quarterly servicer assessments have positively impacted the mortgage servicing industry,” said Treasury Acting Assistant Secretary Tim Bowler. “While the housing market as a whole has made significant progress, servicers still have room for improvement and Treasury will continue to press the industry to improve servicer performance.”The report comments, “The Administration’s programs continue to encourage improved standards and processes in the industry, with HOPE Now lenders offering families and individuals nearly 4.0 million proprietary modifications through December (data are reported with a two month lag).”In total, 8.1 million mortgage modifications and other mortgage assistance arrangements were completed between April, 2009 and the end of January, 2014.On a more local level, HUD’s neighborhood stabilization program, which helps communities address foreclosed or abandoned homes, has completed or rehabilitated 32,000 units while providing direct assistance to 10,800 homeowners.The Home Affordable Mortgage Program (HAMP) has saved an estimated $25.5 billion to date in monthly mortgage payments.Mortgage rates were a reported 4.37 percent, and 30,226 U.S. properties were repossessed by lenders in January, down 40 percent from one year ago—to their lowest level since July 2007. Completed foreclosures were 4 percent below their December level.Mortgage delinquency rates for prime mortgages fell slightly from 3.2 to 3.1, and for subprime borrowers delinquencies showed a similar fall, from 32.1 percent to 32 percent.Homeowners’ equity jumped over $400 billion in the fourth quarter of 2013, reaching over $10 trillion for the first time since 2007. Sign up for DS News Daily Home / Daily Dose / Obama Administration Releases February Housing Scorecard Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Housing Scorecard HUD Treasury 2014-03-10 Colin Robinscenter_img Demand Propels Home Prices Upward 2 days ago  Print This Post Obama Administration Releases February Housing Scorecard Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Housing Scorecard HUD Treasury Previous: DS News Webcast: Monday 3/10/2014 Next: Florida’s Statute of Limitations: All is Not Lost After Five Years About Author: Colin Robins March 10, 2014 800 Views Subscribelast_img read more

Watt Insists 3 Percent Down Payment Loans Are Not Riskier Than Those With Lower LTVs

first_img Tagged with: FHFA House Financial Services Committee Jeb Hensarling Mel Watt in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Brighter Outlook for Economy, Job Market Push Consumer Confidence to Seven-Year High Next: Mortgage Risk Rises, Causing Concerns Over Expansion of Credit Access Related Articles Subscribe Demand Propels Home Prices Upward 2 days ago Watt Insists 3 Percent Down Payment Loans Are Not Riskier Than Those With Lower LTVs Servicers Navigate the Post-Pandemic World 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Postcenter_img Federal Housing Finance Director (FHFA) Mel Watt, testifying before the House Financial Services Committee, which he once sat on as a Democratic U.S. Representative for North Carolina, insisted that mortgage loans with a 3 percent down payment backed by GSEs are no more riskier than those with a loan-to-value (LTV) ratio of lower than 80 percent.Watt was testifying before Congress for the second time since becoming director of FHFA a year ago, this time to give an update on the government’s conservatorship of Fannie Mae and Freddie Mac.Committee Chairman Jeb Hensarling (R-Texas), who has been a vocal critic of Watt’s housing policies during the last year, began his five-minute questioning period by stating, “I fear, Director Watt, that you have reversed policies of your predecessor which will make it more difficult to have a sustainable finance system,” and told the director that not only was the 3 percent down payment loan backed by GSEs bad for taxpayers, but it was “putting people into homes they can’t afford to keep.””If (homebuyers) can only afford 3 percent down, do you believe that 3 percent down is riskier to the home purchaser than 1o percent down?” Hensarling said.”Again, the same consideration would apply to the borrower as would apply to the lender,” Watt said in response. “If you carefully look at other considerations and take them into account in deciding whether to extend that credit, or in Fannie and Freddie’s case, whether to back that credit, you can ensure that a 3 percent loan is just as safe as a 10 percent down payment loan.”Hensarling presented data from the FHFA which showed mortgage loans to have a “precipitous rise in default rates” among mortgage loans with an LTV ratio higher than 90 percent – particularly among those with higher than 95 percent, while the performance was “noticeably better” among those mortgage loans with an LTV ratio of less than 80 percent.”With all due respect, I understand what you’re saying,” Hensarling said with regard to Watt’s assertion that the 97 percent LTV loans were safe. “But I fear what you’re doing is again, repeating the exact same mistakes that brought us here in the first place and now you’re in a contest with FHA to see who can be the nation’s largest subprime lender. I fear we are going in the complete wrong direction with your policy.”Later, while being praised for instituting the lower down payment loans by Representative and Committee Minority Ranking Member Maxine Waters (D-California), Watt reaffirmed his stance that those loans are safe.”We have no interest in going back to irresponsible lending, and it’s part of our statutory mandate to make sure that doesn’t happen,” Watt said. “We are going to not sanction loans backed by Fannie and Freddie and the taxpayers that are not reliably expected to be paid.”Regarding the issue of a proposed rule to tighten membership requirements in the Federal Home Loan Banks, Watt responded to questions from Representative Frank Lucas (R-Oklahoma), who said that he hopes the Committee would “be very sensitive about doing anything to a model that has worked really well and is working well,” for the FHLBanks.”We have no agenda other than making sure that members of the Federal Home Loan Banks meet the criteria that Congress has established for membership,” Watt said. “I know this is a controversial issue, because we put out the rule and we got 1,300 comments. That’s almost unprecedented. We’re going to go through every one of those comments and evaluate every single one of them. Most of them, I would say 90 percent of them, appear to be against the proposed rule. Obviously, we touched a nerve. But we are going to apply the statute and try not to have the adverse impact that people are contemplating might be a result.”As expected, Watt faced some tough questioning from Republicans on the panel regarding his decision to lift the suspension of allocation of Fannie Mae and Freddie Mac funds into the Housing Trust Fund and the Capital Magnet Fund. Representative Ed Royce (R-California), a senior member of the HFS Committee, told Watt that “(w)e find the FHFA today engaged in this race with Fannie and Freddie to see who can more swiftly crowd up the private sector, who can assume more risk on behalf of the American taxpayer” and, after citing statistics that show the GSEs are undercapitalized and overleveraged, said it is “difficult to see how you can argue that as it is required by law, the GSEs are financially stable enough to begin the transfer of money to housing groups,” referring to the GSEs’ funding of the Housing Trust Fund and Capital Magnet Fund.”We’ve put in place prudential stops if circumstances go back in the other direction,” Watt said. “If we ever have a draw on the Treasury, that would automatically stop funding of the Housing Trust Fund. When Fannie and Freddie were put into conservatorship, and the preferred stock agreements were entered into with Treasury, that suspended the capital of Fannie and Freddie. Now, if we were building up capital, I understand exactly what you’re saying. But those two criteria don’t apply anymore because they are in conservatorship. Every dime is going to the taxpayers if there is a profit.”Royce concluded his five-minute questioning period by stating that he and other Republican colleagues were introducing the Pay Back the Taxpayers Act of 2015, which prohibits the GSEs from diverting funds into housing groups. Home / Daily Dose / Watt Insists 3 Percent Down Payment Loans Are Not Riskier Than Those With Lower LTVs Data Provider Black Knight to Acquire Top of Mind 2 days ago January 27, 2015 1,471 Views Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago FHFA House Financial Services Committee Jeb Hensarling Mel Watt 2015-01-27 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Share Savelast_img read more

The Industry Pulse

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Industry Pulse ________________________________________________________________________________TD Bank has appointed Rick Bechtel as executive vice president, head of U.S. mortgage banking, and Scott Lindner as national sales director. Bechtel has more than 27 years of banking and management experience, most recently serving as managing director, head of mortgage banking, at CIBC. He has also built and led successful sales teams at both Wells Fargo and Chase. In his new role, Bechtel will oversee all aspects of the lending business. He will be responsible for driving growth and optimizing best-in-class technology, while maintaining the bank’s risk appetite and unique focus on the customer. Lindner has 30 years of experience in the financial services industry. Most recently, he served as senior vice president, head of retail banking, at Scottrade. Previously, he had managed over 100 retail bank branches for The Bank of New York and was responsible for JPMorgan Chase’s mortgage origination business in Connecticut and New York state north of New York City. At TD Bank, Lindner will work to grow the business through a combination of sales-force expansion and integration with the retail bank.________________________________________________________________________________Northsight Management LLC, a mortgage field services provider, based in Scottsdale, Arizona, finalized its merger with ASONS Construction Inc., a highly regarded regional REO and property preservation service provider. The procurement of ASONS marks the second and final M&A milestone for Northsight since August 2017. ASONS Construction Inc., based in Muncie, Indiana, is one of the oldest and most integrated industry firms of the region. It was incorporated when the founders purchased a foreclosed home and grasped first-hand the maintenance required. Over the years, ASONS expanded to provide field and property preservation services for US Government Agencies, financial institutions, and private sector institutions.________________________________________________________________________________Real estate business and technology solutions provider, Situs, has entered into a definitive agreement to acquire MountainView Financial Solutions, a service provider to the financial services industry. The transaction, which is subject to customary closing conditions, is expected to be completed on or before January 31st. Headquartered in Denver, Colorado, MountainView is a valuation and risk analytics business for the financial services sector. MountainView’s professionals will work alongside Situs to deliver a spectrum of risk management and transaction services, and build on the group’s foundation of valuation and regulatory advisory services.________________________________________________________________________________Mortgage hedge advisory and secondary marketing software firm, Mortgage Capital Trading Inc. (MCT), announced that Ian Miller has joined the company as Chief Marketing Officer (CMO). In this newly created position, he will be responsible for ensuring that MCT’s marketing strategy effectively supports the company’s business plan and helps drive growth. “We are elated to have Ian the MCT team and head the marketing strategy,” said Curtis Richins, president of MCT. “We’ve grown our business considerably over the past several years and had a need to ensure that our brand accurately reflects the robust suite of products, services, and technology we now offer within company divisions.” Home / Daily Dose / The Industry Pulse Demand Propels Home Prices Upward 2 days ago About Author: David Wharton January 11, 2018 1,416 Views Share Save Tagged with: Company News The Industry Pulse The Best Markets For Residential Property Investors 2 days ago Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Newscenter_img Previous: District Judge Sides With President Trump on CFPB Director Next: The Top 25 Women of Law, Part 1 Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Company News The Industry Pulse 2018-01-11 David Wharton Subscribelast_img read more

Houston Still Has Unspent Relief Funds from Hurricane Ike

first_img Servicers Navigate the Post-Pandemic World 2 days ago Houston Still Has Unspent Relief Funds from Hurricane Ike The Best Markets For Residential Property Investors 2 days ago Subscribe Affordable Housing floods Houston Houston Housing Authority HUD Hurricane Relief Natural Disasters 2018-04-03 David Wharton Related Articles in Daily Dose, Featured, Government, Journal, News Share Save Tagged with: Affordable Housing floods Houston Houston Housing Authority HUD Hurricane Relief Natural Disasters Governmental Measures Target Expanded Access to Affordable Housing 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 Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily center_img Previous: Single-Family Rentals on the Rise Next: The Policy Makers Houston has recovered remarkably well from last year’s hurricane season. After an initial spike in delinquencies in the months following the storm, the Texas Association of Realtors recently reported that home sales volume and home prices in the Lone Star State reached all-time highs for the third year in a row last year. However, it turns out that Houston still has more funds to spend—and we don’t mean the ones from Hurricane Harvey.Governing.com reports that the city of Houston still has unspent funds allotted for the Ike recovery by the Department of Housing and Urban Development. In the years after Hurricane Ike, the city of Houston received more than $200 million from HUD. A total of $45 million went to the Houston Housing Authority. Of that total, Governing.com reports that the agency has to date spent only $12 million, using those funds to build a total of 154 affordable housing units.What’s behind the delay? As Gunsolley told Governing.com, “Our plans got caught up in this national shifting of priorities.”As the government funds were being doled out, the Houston Housing Authority wound up caught between affordable housing advocates urging stronger enforcement of the Fair Housing Act of 1968 and community and political opposition from wealthier areas of the city who didn’t want subsidized housing in their area. According to Governing.com’s report, the HHA eventually tried to buy an existing apartment complex in order to convert 300 of the units into affordable housing. That final attempt was soon interrupted…by last year’s Hurricane Harvey.The case of the HHA and the Ike funds spotlights the complications of distributing and disbursing the millions or billions of federal relief dollars that flow into communities like Houston after a devastating natural disaster hits. Not only are there flood-damaged or destroyed homes in need of assistance to rebuild, but housing advocates argue that the funds should also be used to help disrupt historical patterns of segregation and inequality when it comes to where new affordable housing is built. In fact, a 2010 settlement between Houston and advocacy groups such as Texas Appleseed dictates that the city use some of the Ike funds for “affirmatively furthering fair housing.” On top of all of those competing priorities, there is also a strong financial incentive to focus on building higher-dollar housing stock.Houston has already had billions of dollars allocated to help with the Hurricane Harvey recovery, including $1 billion from FEMA and $5 billion from HUD. While those billions are no doubt sorely needed, the case of the unspent Ike funds suggests it may be a long, difficult road before the money is actually spent.Editor’s note: DS News reached out for comment to HUD and the Houston Housing Authority, but no response was received by press time. We will update this story with their response if and when they are received. Demand Propels Home Prices Upward 2 days ago April 3, 2018 2,295 Views Home / Daily Dose / Houston Still Has Unspent Relief Funds from Hurricane Ike About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Postlast_img read more

Putting Abandoned Properties Under the Spotlight

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post About Author: Michelle A. Mierzwa The Week Ahead: Nearing the Forbearance Exit 2 days ago April 18, 2018 3,458 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Michelle A. Mierzwa joined Wright, Finlay & Zak’s Compliance Division in 2015, providing loan originators, lenders, servicers, trustees and others in the mortgage industry with state and federal compliance and regulatory counsel. Since 1998, Her accomplishments include creating the legal department for one of the largest non-judicial foreclosure trustees in the Western U.S., the management and resolution of litigated matters through jury and bench trials and appellate practice, the coordination of compliance audits, and managing the California branch of a national law firm. Mierzwa served two three-year terms on the Board of Directors of the United Trustees Association (UTA) and is a member of the Legislative Committees of the California Mortgage Bankers Association and the UTA. She is licensed to practice in California and Washington. The Best Markets For Residential Property Investors 2 days ago Tagged with: Abandoned Property Foreclosure House Bill 2057 successors of interest Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, Journal, News, REO, Servicing Demand Propels Home Prices Upward 2 days agocenter_img Abandoned Property Foreclosure House Bill 2057 successors of interest 2018-04-18 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Subscribe Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Putting Abandoned Properties Under the Spotlight Servicers Navigate the Post-Pandemic World 2 days ago Previous: Are California Homeowners on Shaky Ground? Next: Senate Addresses Robocalls: What Mortgage Servicers Need to Know Putting Abandoned Properties Under the Spotlight Ever since the Washington Supreme Court’s decision in the Jordan v. NationStar case, loan servicers have been on edge about securing abandoned property. House Bill 2057 seeks to address this, and several other pressing issues.Most of the bill’s sections will become effective 90 days after the end of the legislative session, or on June 6, 2018. However, the new requirements applicable to Notices of Default (NOD) will apply to NODs issued after June 30, 2018. The bill covers several subjects related to real estate loans, including residential and commercial loans, and amends the Revised Code of Washington.The bill addresses statutory rights for lenders and servicers to take action over vacant and abandoned properties prior to foreclosure, clarifying the Washington Supreme Court’s ruling in Jordan v. NationStar Mortgage, LLC. It provides clarification of the owner/holder/actual holder language consistent with the Brown v. Washington State Department of Commerce decision.For notices issues after June 30, 2018, the bill adds required information on the first page of the Notice of Default and Notice of Trustee’s Sale for commercial and residential loans. It adds statutory due diligence and notice requirements for nonjudicial foreclosure in the event a borrower is deceased. Specifically, the trustee must provide notice of the foreclosure to all known heirs and, if unknown, perform due diligence to locate the heirs.The bill adds statutory requirements for interaction of lenders, servicers, and trustees with successors in interest to a deceased borrower. Similar to California’s 2017 Widows and Orphans’ bill and the new CFPB rules (effective April 2018), a servicer cannot proceed with a Notice of Default or Notice of Trustee’s Sale, as prescribed in each statute, until it confirms whether the person qualifies as a successor-in-interest under the new statute.A new pre-foreclosure notice in English and Spanish is required for judicial foreclosures of reverse residential mortgages.One new option for non-judicial foreclosure trustees is to file a declaration of nonmonetary interest in response to civil litigation in which no wrongful conduct is alleged against the trustee (similar to California’s Civil Code section 2924l). The bill also includes requirements that the beneficiary note declaration now be in the trustee’s possession at the time the NOD is issued and provided to the borrower with the NOD. Finally, the bill includes an increase from $250.00 to $325.00 in the amount a beneficiary must deposit into the foreclosure fairness fund for each notice of trustee’s sale on residential real property.(Click here to read more of DS News’ coverage of Washington House Bill 2057.)last_img read more

The State of Remodels

first_img Previous: Why Senior Homeowners Stand to Gain Next: From the Investors’ Perspective  Print This Post BuildFax Fannie Mae Maintenance remodeling 2018-12-18 Seth Welborn Related Articles The State of Remodels Subscribe 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The State of Remodels About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img December 18, 2018 1,123 Views Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News, Servicing Share Save Tagged with: BuildFax Fannie Mae Maintenance remodeling Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Single-family housing authorizations, maintenance, and remodeling have all decreased year over year according to the November 2018 BuildFax Housing Report. BuildFax states that this is the first time since 2011 to see a decrease in all three categories, and notes that it could point to a potential market slowdown.Single-family authorizations decreased by 0.86 percent year over year, while maintenance volume decreased by 5.85 percent and remodel volume decreased by 12 percent year over year.“More so now than in years prior, the compounding effects of natural disasters, scarcity in the construction labor market and recent tariffs have impacted housing growth – not to mention systemic factors, like rising mortgage rates, that influence consumer behavior,” said BuildFax COO Jonathan Kanarek. “While it’s natural to see some leveling off after steep growth, the next few months will be telling; whether a downturn is on the horizon or the market is simply softening is yet to be seen.”In commercial construction, the BuildFax report found that construction has decreased along the same lines as residential. Despite the decrease, the report notes that commercial construction spending has been on a steady increase over the past five years, though disproportionate increases between construction cost and volume point out a labor shortage.According to Fannie Mae, the labor market is projected to be one of the highlights of the economic growth and with inflation around Fed’s 2 percent target, and Fannie Mae predicts that Fed will hike rates once more in December and two more times in 2019, despite rising market expectations of fewer hikes amid stock market volatility.Consumer spending is likely to be the largest positive contributor that will drive growth and consumer confidence. Business fixed income, on the other hand, is expected to slow considerably by the third quarter and may also remain constrained due to higher tariffs, trade uncertainty, and rising interest rates and input costs.The existing trade tensions between the U.S. and China and stock market volatility is among the most notable risks to the forecast, Fannie Mae stated. Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

The Trends Homeowners and Buyers Can Expect Next Year

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago housing industry 2021 Housing Market Zillow 2020-12-22 Cristin Espinosa Tagged with: housing industry 2021 Housing Market Zillow Data Provider Black Knight to Acquire Top of Mind 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 in Daily Dose, Featured, News Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Trends Homeowners and Buyers Can Expect Next Year Related Articlescenter_img December 22, 2020 2,038 Views Servicers Navigate the Post-Pandemic World 2 days ago Cristin Espinosa is a reporter for DS News and MReport. She graduated from Southern Methodist University where she worked as an editor and later as a digital media producer for The Daily Campus. She has a broadcast background as well, serving as a producer for SMU-TV. She wrote for the food section during her fellowship at The Dallas Morning News and has also contributed to Advocate Magazine and The Dallas Observer. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 2Save About Author: Cristin Espinosa Previous: CFBP Issues Advice on Special Purpose Credit Programs Next: What Neighborhood Factors Impact Home Values? The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily This year has been an intense one for all industries, but the housing market has managed to come out on top. As 2021 draws nearer, Zillow offers some key trend predictions that could lead to shifts in the market next year.While COVID-19 has led many homebuyers to search for more space out in the suburbs, Zillow predicts that there will be an increase in demand for city life next year. The potential for COVID-19 vaccine distribution in the near future means that those who may have left more concentrated areas may be returning.When the economy recovers and more Gen-Zers begin searching for their first homes, “a new class of young adults will be drawn to cities as they finish school and enter the job market,” according to Zillow.Zillow also anticipates a “perfect storm” of housing market conditions that could lead to a successful spring season for housing. If economic stability grows and mortgage rates begin to rise once again, the residential real estate market could see a “buying frenzy.”As buyers have utilized more technology in their search for homes this year, Zillow expects this to lead to less traditional seasonality for the housing market. Buyers now have grown accustomed to browsing for homes themselves using online tools, making it easier to buy homes all year round.Zillow expects that those who are on the search for a new home will continue to use more technological tools in the search process. According to Zillow, about 46% of renters say they wish more listings had virtual tours included. A Zillow survey also shows that about 72% of Zillow Premier Agents anticipate that they will continue using virtual tools even in a post-pandemic world.Technology was likely one factor that helped home sales to skyrocket in 2020, which shocked the industry. However, Zillow predicts that 2021 might take the housing market even further, with “21.9% annual growth for a total of 6.9 million homes sold,” which could be the largest annual sales growth the market has experienced since 1983.Although mortgage payments have been more affordable this year due to low mortgage rates, Zillow expects that to shift in 2021. Big housing demand and low supply have led to huge price increases, which have been great for the housing market. However, this could spell trouble for homebuyers and homeowners if price growth continues to flourish and if mortgage rates increase. Zillow predicts “annual home value growth to reach 10.3% in November 2021,” which will likely lead to serious affordability challenges. The Trends Homeowners and Buyers Can Expect Next Year The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Signage to be made more affordable for Letterkenny businesses

first_img Google+ Facebook Signage to be made more affordable for Letterkenny businesses Facebook A Letterkenny Councillor believes that the way to cut down on illegal signage in the town is to make it more affordable for business to erect legal ones.Councillor Dessie Larkin is set to raise the issue at tonight’s monthly meeting of Letterkenny Town Council.Recent changes to legislation has made it much more affordable for businesses to erect legal signs and Councillor Larkin now wants the local authority to get that message out to the business community.He says the council must now get tough on those erecting illegal signs:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/lark10signs.mp3[/podcast] Twitter Pinterest Twitter Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Google+center_img By News Highland – October 10, 2011 Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Newsx Adverts NPHET ‘positive’ on easing restrictions – Donnelly Previous articleUpdated: Forum calls on clubs and pubs to end price warNext articleAnger at ‘racist’ graffati in the Twin Towns area News Highland Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterestlast_img read more

Deputy Doherty calls on Government to scrap it’s plans to introduce water charges

first_img Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Previous articleGovernment will continue to support Irelands islands – Deputy McGinleyNext articleSoccer – Felix pleased with Harps win News Highland News Twitter By News Highland – June 13, 2011 Facebook Three factors driving Donegal housing market – Robinson center_img WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Google+ Calls for maternity restrictions to be lifted at LUH Google+ Pinterest Deputy Doherty calls on Government to scrap it’s plans to introduce water charges Donegal South West Deputy Pearse Doherty has annouced details of a water charges Dail motion which he will raise on Wednesday.The motion which opposes the proposed introduction of water charges calls on the government to scrap it’s plans to introduce the charges.Deputy Dohertys says that water charges will only add a huge burden of debt which already hangs over peoples heads:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/06/1pdoc.mp3[/podcast] WhatsApplast_img read more

County Manager reacts to council’s big freeze bill

first_img Google+ RELATED ARTICLESMORE FROM AUTHOR Google+ Guidelines for reopening of hospitality sector published Twitter Need for issues with Mica redress scheme to be addressed raised in Seanad also Previous articleCouncil water cuts – Saturday updateNext articleMcDaid a step closer to returning to Fianna Fail News Highland WhatsApp Twitter Facebook County Manager reacts to council’s big freeze bill Newsx Advertscenter_img The County Manager Michael McLoone has been reacting to the news that Donegal County Council is facing a bill of up to four million euro to cover the costs incurred in dealing with the recent poor weather.The council met today were details were given of how much the freeze costs in maintaining and repairing the council’s housing stock, treating icy roads and dealing with the water shortage.The council’s senior engineers estimated the cost, excluding staff wages at 3.3million euro but the county manager says that figure could increase further. Michael McLoone says the bill could yet top four million euro and only on highlandradio.com you can here his full interview by clicking below:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/01/cloone.mp3[/podcast] Pinterest Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp By News Highland – January 15, 2010 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey last_img read more