Black Knight Financial Services released their “First Look” at September’s mortgage data that found that the rate of all mortgages in active foreclosure fell to 1% – its lowest point in nine years. In addition, they also report that September had the 3rd highest repayment rate in three years. Black Knight derives their mortgage performance statistics from its loan-level database representing the majority of the national mortgage market. Click here to read the full report at Black Knight Financial Services.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
When you’re researching a property, have you ever wondered if someone died at that address? An online site called DiedInHouse.com will, for a small fee, generate a report using millions of records to determine if a death occurred at any valid US address. Their reports can also contain information about that death as well as meth lab activity, fires and other data that may be available but unknown to potential buyers. According to an article on Forbes.com, the service was founded three years ago when its founder went searching for information after one of his tenants asked him if he…
Data powerhouse RealtyTrac recently released their Q3 2016 Single Family Rental Market Report which found that for homes purchased in 2016 the average single-family rental returns dropped to a nine-year low. Analyzing data from 473 counties, the report says the average annual gross rental yield (monthly rent, annualized, divided by median the home price) was 8.7% for properties purchased in the first seven months of 2016, down from an average of 8.8% from 2015 and the lowest level since 2007 – when it was 7.3%. “While average rental returns on properties purchased so far in 2016 are at a nine-year…
The pest control and rodent removers over at Orkin recently reminded folks that Fall marks the start of rodent season (who knew?) when these unwanted pests seek food & shelter to survive the winter – that means coming in your properties! In honor of the occasion they’ve put together their list of the “Top 50 Rattiest Cities” in America. The cities were ranked by the number of rodent treatments (residential & commercial) that Orkin performed from October 2015 through the end of September this year. The top 10 rattiest cities: Chicago New York Washington D.C. Los Angeles San Francisco-Oakland-San Jose…
Sometimes, conventional wisdom just goes without saying. However it is good to step back and look at the data. This week’s infographic (courtesy of the National Association of Realtors) reveals that nearly half (44%) of home buyers found their home on the internet with barely 1% doing so using a newspaper. Keep that in mind when you’re ready to move your next flip….Happy Friday. The above infographic was sourced from NAR’s 2015 Profile of Home Buyers and Sellers.
CoreLogic is reporting that cash sales accounted for 29.7% of total home sales in July 2016, down 1.9 percentage points year over year from July 2015. REO sales had the largest cash sales share in July at 57.6%, followed by resales at 29.4%, and short sales at 28.1 percent. Newly constructed homes came in at 15%. CoreLogic says that if the overall share of cash sales continues to fall it could hit 25% by mid-2018. Overall, New York had the largest share of cash sales share at 44.6%, followed by Alabama (43.6%), Florida (39.6%), New Jersey (37.3%) and Indiana (37%).…
Adding to the interesting saga of reseting HELOC’s (Home Equity Lines of Credit), TD Bank recently released the results of their Reset Measure Survey showing that 43% of U.S. homeowners would be affected and of those, 27% were unaware of their loans impending reset. The survey polled more than 800 homeowners nationwide with HELOC’s. Key takeaways: Three-in-ten homeowners have received a Home Equity Line of Credit since 2014 Over one-quarter do not know when the HELOC Draw Period ends 43% are not clear what will happen to their monthly payment when the Draw Period comes to an end Home renovations…
Yes, you read that headline correctly – Nearby Power Lines Can Increase Home Values. A recent article published in The Appraisal Journal said that property values can be affected in both positive and negative ways by their proximity to transmission lines. The article found that transmission lines that have greenways located beneath positively impact some homes. The research covered 125k home sales over a 14-year period. The Appraisal Journal is the quarterly technical and academic publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers. Click here to read “Property Value Impacts from Transmission Lines, Subtransmission…
The Commerce Department reported this week that privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,225,000. This is 6.3% above the revised August rate of 1,152,000 and is 8.5% higher than September 2015. Single-family authorizations in September were at a rate of 739k which is 0.4% higher than August. Authorizations of units in buildings with five units or more were at a rate of 449,000 in September. Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,047,000. This is 9% lower than August’s estimate of 1,150,000 and…
Mortgage insurance leader Arch MI recently released their Fall 2016 Housing and Mortgage Market Review that says the likelihood of U.S. home price declines over the next two years remains low. The report, which analyzes key economic data, provides housing sector forecasts and information on long-term trends, pegs the chance of price declines at 4%, down from 6% predicted one year ago. Bottom line; they say even strong dynamics are now in place that will continue pushing up home prices faster than the rate if inflation for the foreseeable future. Click here to download the full report at Arch MI.
