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Author: realejuicey
Wells Fired Head of Lending:Misconduct
The bank has been on unstable footing ever since the revelation of the bank’s fake account scandal, which saw the company fined $185 million for more than 5,000 of the bank’s former employees opening more than 2 million potentially unauthorized accounts to get sales bonuses. Wells Fargo announced Friday that it fired Franklin Codel, a senior executive vice president and head of the bank’s consumer lending division, for misconduct. Wells Fargo
‘Huge’ Opportunity in US property
There’s one ‘huge’ opportunity in US property, CEO says Buy to let is now a “huge” investment opportunity in the U.S. as single-family rentals surge, says John Burns, CEO of John Burns Real Estate Consulting. Surging home sales. “Something happened in the middle of September where the country woke up and started buying homes again.” Single-family renting. “The biggest shift we have seen in the last six years is these new, professionally managed single-family rental companies who have now made it a very reasonable thing to do…Almost 12% of America is renting a single-family home. Instead of renting it from some person who might be on vacation, you actually have a real company now who will take care of you as a landlord.” The Fed. “They used the housing market as a tool to get us through the 2001 recession if you remember. Housing is not being overbuilt right now, and so if150
Low Inventory is Causing High Prices
So Why Aren’t People Selling? Seattle wins the wait and hold game. Homeowners hold onto their houses for longer in just four other places — Boston; San Jose; Providence, R.I.; and Hartford, Conn. — among the 40 U.S. metro areas with at least 1 million people. We’re tied with San Francisco, with sellers waiting 10.2 years. Sure, they could get a good profit — on average, home sellers today make about 65 percent return on their original purchase before closing costs, the Attom data shows. That’s the third best profit in the country, behind the San Francisco and San Jose regions. But then what? If you want to remain a homeowner locally, you still have to turn around and buy at today’s high prices, and deal with transaction costs like taxes and realtor commissions on both sales. https://www.seattletimes.com/business/real-estate/seattle-home-prices-are-so-high-partly-because-barely-anyone-is-selling-despite-chance-for-big-profits/
REAL TRENDS ANNOUNCES NEW REPORT ON SINGLE-FAMILY RESIDENTIAL INVESTMENT MARKET
The Iceberg Report is an annual report on the American Single-Family Residential Investment Market REAL Trends, Inc., the Trusted Source in residential brokerage and Andrew Waite of NEXZUS Publishing Group announces the release of The Iceberg Report, an annual report and analysis of the American Single-Family Residential Investment Industry. Some 23 percent of one- to four-family residential homes in the United States are owned by investors. The Iceberg Report details the size of the single-family residential market, as well as the demographics, attitudes and behaviors of owners of single-family investment homes and uncovers the companies that serve this market. The implications of investors owning and holding single family residential real estate as an investment have enormous implications for the future of housing, rentals and homeownership at large as well as housing affordability. “The Iceberg Report confirms what we suspected,” says Steve Murray, president of REAL Trends. “More successful investors rely150
Drop In Mortgage Applications Means It’s Time To Shake Off Repayment Burden
Mortgages Drop The rollercoaster that is mortgage applications saw the final days of May 2017 close on a down note and that’s likely due to a shorting in available housing to purchase, according to recent news reports. CNBC reports that U.S. mortgage applications were down 3.4 percent for the week ending May 26 compared to the previous week. The recently released information, which was pulled from Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, comes on the heels of a climb of a little over 4 percent and a drop of about the same amount the week before that. According to Abby Shemesh, CEO and founder of Amerinote Xchange, these fluctuations – not to mention the seasonally-adjusted index that’s 14 percent lower than it was this time last year – means it’s a seller’s market for those looking to sell their mortgage note. “It’s a simple premise, really,” said Shemesh.150
Compare Cost of Living
Cost of Living The Cost of Living Page The cost of living calculator allows you to see where different cities rank in various cost categories. See below for an example of NYC and Chicago. As you can see, two of the most heavily marketed cities for recent grads have significant above-average cost of living rates.
Facebook launches massive push into real estate listings
Zillow. Trulia. Realtor.com. Redfin. All household names in the real estate listings world, right? Well, those companies now have some serious competition from a company that boasts an audience that dwarfs all of those sites put together – Facebook. That’s right. Facebook is coming to real estate listings. Now, anyone who’s “friends” with a real estate agent on Facebook is likely used to seeing real estate listings show up in their news feed, but it appears that Facebook has much bigger plans for real estate listings through its own platform. real estate on Facebook
House Votes to Abolish Dodd Frank with Financial CHOICE Act
The U.S. House of Representatives voted on Thursday to abolish the Dodd-Frank Wall Street Reform and Consumer Protection Act, passing a Republican-crafted replacement called the Financial CHOICE Act. From here, the act moves to the Senate where it will likely come up against Dem resistance.
HomeVestors Welcomes 800th Franchise in First Quarter 2017
75 Additional Franchises Join Growing “We Buy Ugly Houses®” Brand HomeVestors of America welcomed 75 new franchises during the first quarter 2017, including the brand’s 800th franchise in Allentown, Pa., a new market for the “We Buy Ugly Houses” company. Other new territories include Little Rock, Arkansas; Twin Falls, Idaho; Duluth-Superior, Wi.; Beaumont, Tex.; Charlottesville, Va.; Omaha, Neb.; and St. Cloud-Alexandria, Minn. “Homeowners throughout America enjoy the efforts of franchises like these who are working to once again turn ugly houses into an asset to their communities,” said David Hicks, HomeVestors co-president. “The franchises that come to HomeVestors have an entrepreneurial drive and passion that has helped build our company over the last 20 years. We are happy to welcome these additional franchises, and to recognize Sjaun Lobdell, our 800th franchisee.” Sjaun hails from Allentown, where he previously worked in information technology. He and his wife Jamie, were seeking a150
