Key Factors Impacting Inventory and Home Flipping

first_img Previous: The Industry Pulse: Updates on Quicken Loans, Cenlar, and More Next: Elizabeth Green Joins LoanLogics as Chief Collateral Officer  Print This Post 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. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago When he’s not analyzing macro- and microeconomic data trends within the housing market and the economy at large, Daren Blomquist, VP of Market Economics at Auction.com, is working to tell the story of these data sets in a way that all audiences can understand. Blomquist’s reports and analysis have been cited by thousands of media outlets nationwide—including all the major news networks and leading publications such as The Wall Street Journal, The New York Times, and USA TODAY. Before joining Auction.com, Blomquist directed ATTOM Media, a division of ATTOM Data Solutions that publishes real estate reports and analysis sourced from national public record property data. He sat down with DS News to provide perspectives on the current housing market and the trends that will define the near term.You have spoken of how home flippers are a good barometer of where the market is heading. What are some of the noteworthy trends occurring in that sector? Home-flipping volume as a rate of overall home sales took a dive in the second half of 2018, paralleling the decline we saw in home sales volume and the rate of home price appreciation in the retail market. Home flippers are having trouble selling in a market with weakening retail buyer demand, and that is forcing them to hold onto properties longer than they would like. This trend, in turn, is causing the flippers to exercise caution in the acquisition of new flips.The good news is that downward trend in home flipping reversed itself in early 2019, with the home-flipping rate jumping to a seven-year high in February. That’s a strong positive sign for the health of the overall housing market going forward for the remainder of the year.What does your typical day look like as VP of Market Economics? I analyze data—both internal Auction.com data and external market data—and figure out what the data is telling us about the marketplace. Then, I get to take that data-driven message and tell it in innovative ways. That storytelling takes several forms, but primarily through written content, interactive visuals, and in speaking to various audiences. One of the most important audiences is the internal business owners and decision-makers at Auction.com, to help them make the most informed, data-driven business decisions. Sellers and buyers utilizing the Auction.com platform comprise another important audience for my data-driven content about the market. It’s important for both sides of the transaction to be armed with solid information that will promote transparency and reduce friction in our marketplace. My job consists of communicating data-based anaysis to the larger mortgage and real estate industries, helping them gain insight particularly into the distressed disposition niche of the housing market.What are the key factors impacting inventory and millennial homebuying in the current market? The interplay between inventory and demand from millennials represents one of the most fascinating chickenand-egg scenarios of the real estate recovery. Millennials represent a critical group of imminent homebuyers, and yet their potential has remained latent for a variety of reasons, ranging from high levels of student debt to later-in-life homebuying triggers such as getting married and having children.The most significant contributors to the large homeownership deficit for the under-35 generation are concrete and psychological ripple effects from the Great Recession. The psychological effects have caused homeownership to lose its luster for many millennials, and the concrete effects havemade it much more difficult for millennials to get their foot in the door even if they want to become homeowners.On the inventory side, homebuilders are also impacted by these effects, causing a deficit in inventory built over the last seven years of the recovery. Builders got burned with an overhang of too much inventory in the previous up-cycle and have therefore been cautious in ramping up their production in this time, especially in light of the muted demand for homeownership from millennials and other generations.Additionally, the housing crash decimated the ranks of construction workers, and many in that field have since found other jobs. That has pushed up construction costs and limited thetype of inventory that is profitable for builders.With the housing market witnessing low mortgage rates and better inventory this spring, how do you see the market continuing to evolve this year?The buyerseller pendulum swung back toward buyers in the second half of 2018, but it’s hard to tell if that swing is continuing or if the recent drop in mortgage rates will halt it. We saw a similar swing toward a buyer’s market play out in 2014 when mortgage rates also rose above 4% for an extended stretch. When mortgage rates then dropped, the market quickly flipped right back in favor of sellers in 2015. However, I don’t think we’ll see such a knee-jerk response toward a seller’s market this time around. The market will still be more favorable for buyers in 2019 than it was in 2017, but I also don’t think we’ll see a full-fledged buyer’s market where homes are sitting on the market for six months or more in most areas of the country.Do you see a recession on the horizon in the near-term? There is a good chance of at least a mild to medium-sized recession in the next couple years. Housing certainly will be impacted to some degree, but it will not likely be the catalyst for the recession nor bear the brunt of the pain from it. Looking back at previous recessions, the typical impact on housing is a modest drop in home prices—somewhere in the range of a 1% to 5% drop depending on the local market, not the 30% to 50% drop we saw triggered by the Great Recession. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Key Factors Impacting Inventory and Home Flipping Subscribe in Daily Dose, Featured, Market Studies, News, Print Features Servicers Navigate the Post-Pandemic World 2 days ago Economy Housing Market 2019-06-27 Seth Welborncenter_img Related Articles Home / Daily Dose / Key Factors Impacting Inventory and Home Flipping The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Tagged with: Economy Housing Market June 27, 2019 1,747 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Savelast_img read more

CUNA Mutual unveils ridesharing service protection

first_imgCUNA Mutual began offering a no-cost endorsement Wednesday that protects client credit unions from losses they could incur if a member crashes a financed car while driving for Lyft, Uber or another transportation network company.TNC firms such as Lyft and Uber have taken off in recent years, riding a wave of public dissatisfaction with taxis and familiarity with mobile phone technology that supports the app-based services. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

Europe is big for Everton – Distin

first_img He added: “From that point of view that is great but at the same time if we qualify for the Europa League or at best Champions League we have a small squad so we might suffer from it and only time will tell. “All we want is to finish as high as possible.” One of those teams who have spent considerably more than Everton are QPR, although rather than benefiting them it appears to have handicapped them as their expensively-assembled squad showed at Goodison Park they are worth considerably less than the sum of their parts. Starting the match seven points from safety – where they remained after it – they did not appear up for the fight and once Darron Gibson’s drive took a big deflection off Clint Hill to beat Julio Cesar their body language gave the game away. When Victor Anichebe hooked in from close range shortly after half-time there was little in the way of a response. Manager Harry Redknapp concedes time has nearly run out for his side and with the npower Championship rapidly coming into view he appears to be getting his excuses ready. “It was always going to be difficult because a third of the season had gone with four points on the board (when he took over),” he said. “You take a team on which is basically not your team but you try to get the best out of them and I think we’ve done that but whether it is good enough in the end….. it is going to be difficult.” Defender Sylvain Distin believes securing European football will be a great achievement for Everton considering the teams they are competing against for it. A comfortable 2-0 win at Goodison Park put another nail in the coffin of second-bottom QPR but lifted David Moyes’ side within three points of Champions League qualification. With a trip to third-placed Arsenal on Tuesday the Toffees could enhance their claims further, which is admirable considering the six teams currently above them all have bigger budgets. “It will be a great achievement if we do secure Europe because we don’t have a massive squad,” the Frenchman told Press Association Sport. “We know financially we are not in position to buy four or five players every transfer window but we still compete against teams who spend 10 or even 100 times more than we do.” center_img Press Associationlast_img read more

March Madness 2019: Updated NIT odds for first round

first_imgNo. 4 Davidson (-2.5) vs. No. 5 Lipscomb No. 4 Providence (-6) vs. No. 5 Arkansas The National Invitation Tournament (NIT) begins Tuesday and according to the oddsmakers, the favorites should make it safely to the second round. There isn’t much room for a big upset when looking at the lines for both Tuesday’s and Wednesday’s games, but there are some matchups that should provide an opportunity for an exciting finish, including No. 4 Davidson versus No. 5 Lipscomb and No. 3 Furman against No. 6 Wichita State. The tournament will also continue experimenting with rule changes. It will keep the adjustments made in 2018 — an extended 3-point line, a widened free throw lane and a shortened shot clock — while adding new changes like team fouls being reset at the 10-minute mark and eliminating one-and-one free throws. No. 3 Memphis (-5.5) vs. No. 6 San Diego No. 2 Clemson (-15) vs. No. 7 Wright State No. 2 NC State (-10) vs. No. 7 Hofstra No. 1 Indiana (-19) vs. No. 8 St. Francis No. 4 Nebraska (-5) vs. No. 5 ButlerLines updated through Monday, March 19. No. 3 Furman (-4.5) vs. No. 6 Wichita State  No. 4 Colorado (-3.5) vs. No. 5 Dayton No. 1 Indiana enjoys the largest spread against No. 8 St. Francis (-19).The NIT, which features 32 teams and has four eight-seed sections, plays the first three rounds at the higher seed’s home court, which offers a unique advantage. Related News The lines for the first two days of play are listed below, via ActionNetwork.com.NIT odds: First-round betting linesTuesday, March 19No. 1 UNC Greensboro (-11.5) vs. No. 8 Campbell March Madness 2019: 3 storylines to follow in Round 1 No. 1 Alabama (-18) vs. No. 8 Norfolk State No. 2 Creighton (-10) vs. No. 7 Loyola-ChicagoWednesday, March 20No. 3 Georgetown (-6.5) vs. No. 6 Harvard No. 3 Xavier (-6) vs. No. 6 Toledo No. 1 TCU (-14.5) vs. No. 8 Sam Houston State No. 2 Texas (-7) vs. No. 7 South Dakota Statelast_img read more

Water burst leaves residents without supply yet again in Falcarragh

first_imgHundreds of householders and business owners in and around Falcarragh are without water again following a burst pipe in the Rocktown area. Irish Water are currently at the scene addressing the issue.It is expected that the normal supply will return around 5pm on Saturday. Earlier this month Irish Water held a constructive meeting with elected officials from the Gortahork and Falcarragh area to discuss the utility’s plans to replace two sections of water pipes that are prone to frequent bursts.Councillors were told that Irish Water is committed to delivering water improvement works in Falcarragh and financial approval has been given to progress this through the National Leakage Reduction Programme.Roisin Gallagher, the owner of Roisin’s Beauty Bar, said her business couldn’t afford to wait till October for new pipes to be installed.” (It was a) booked out day with communions and weddings and we will lose a full day again due to the neglect we are receiving from Irish water. “We can’t afford to wait until autumn for this new system with how frequent we are losing water.“We can’t deal with the stress of going through a full busy summer losing days and disappointing customers.”Another business owner said Irish Water were failing the people in the Cloughaneely area.Batch Donegal said on Facebook: ‘This issue is way to frequent and is putting businesses in this town under serious pressure.‘We are losing hundred’s if not thousand’s of euro each time this happens and we are not receiving any compensation or support whatsoever. ‘Irish Water give no warnings of outages and we have to wait until our taps run dry to know that we will be without water.‘By the time this happens we have food baked and prepared for the day and most of this then has to be discarded. They have been of no help any time I have been on the phone to them.‘I have left numerous requests for a callback and sent many emails to which I have got no reply. Advertisement ‘We are being failed here in Falcarragh.’Water burst leaves residents without supply yet again in Falcarragh was last modified: September 22nd, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:FalcarraghIrish Waterlast_img read more

50 million could watch Mayweather-McGregor in the US alone

first_imgUFC champ Jon Jones flagged for another failed doping test MOST READ SEA Games in Calabarzon safe, secure – Solcom chief LATEST STORIES View comments Read Next WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement PLAY LIST 00:44Manny Pacquiao on Floyd Mayweather: Let him enjoy retirement01:49Pacquiao to Mayweather: Want fans to stop asking for rematch? Then fight me again01:16Pacquiao takes another swipe at Mayweather over exhibition match KO01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC Catriona Gray spends Thanksgiving by preparing meals for people with illnesses UPLB exempted from SEA Games class suspension LOOK: Venues for 2019 SEA Games SEA Games: PH’s Alisson Perticheto tops ice skating short program Don’t miss out on the latest news and information. Each pay-per-view sale means more money in the wallets of both fighters. Though estimates vary widely, Mayweather is expected to make some $200 million, while McGregor will likely pocket at least $100 million.Though ticket sales have been slow in Las Vegas — largely because of astronomical prices — the fight is shaping up as must-see TV at a price of $99.95. People are expected to buy the fight in record numbers, with many sharing the cost of the telecast with friends and family they invite over.Taffet said people will treat it much like a Super Bowl by getting together in larger numbers than usual.“I think this is first and foremost a television event,” said Taffet, who oversaw 190 pay-per-views in his career at HBO. “The success of this fight in the financial record books of history will be made on pay-per-view. And I believe it’s going to deliver.”Industry observers say it’s hard to judge how many homes will buy a pay-per-view until the day of the fight many times, as people often buy late. But the anecdotal evidence — primarily the chatter on social media — indicates a good likelihood of it smashing the 4.6 million record of pay-per-view sales set by the Mayweather-Pacquiao fight.ADVERTISEMENT That’s largely because the matchup will likely cross over from being just a sporting event to a party night.“We have definitely seen massive general market interest in addition to the sports fan,” said Stephen Espinoza, who heads sports for Showtime, which will televise the fight. “These general market viewers are often not part of the audience for even the biggest combat sports event. So the ceiling is pretty high.”Espinoza said the very nature of the fight — a matchup between a UFC star who has never boxed as a pro against one of the greatest fighters of his time — will drive the pay-per-view sales.“We believe this is an unprecedented event, quite frankly no one knows what to expect,” he said. “The element of these two outspoken personalities in one unprecedented event is compelling.”An early indication of interest in the fight is the massive betting both in Nevada and in other places where it is legal. Bookmakers say it will be the biggest bet fight ever, with an overwhelming number of the early tickets on McGregor to pull an upset.Still, there are plenty of tickets left in the arena itself, where prices originally ranged from $2,500 in the upper sections to $10,000 at ringside. Ticket prices have been dropping in the resale market — with some available for less than $1,300 on Tuesday — and are expected to decline more in the days before the fight. “It’s a cultural event that crosses all demographics and all social and economic factors,” said Mark Taffet, who formerly ran pay-per-view for HBO. “People are getting together to have a great time and we surely need an excuse to have a great time.”Taffet said that while an average of 5-6 people normally watches a pay-per-view, he wouldn’t be surprised if the fight averages 10 people a household. If it sells 5 million pay-per-views as widely anticipated, the fight could be watched by nearly one in six Americans.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThe fight will also be seen by millions more worldwide, with promoters claiming it will be available either online or on a TV screen to more than 1 billion homes in 200 different countries.“If you are in Manhattan or you are on a desert island somewhere, if you have Wi-Fi, you can buy this fight,” promoter Dana White said. This July 13, 2017 photo shows Floyd Mayweather Jr., left, and Conor McGregor, of Ireland, facing each other for photos during a news conference at Barclays Center in New York. So far fans aren’t exactly storming the box office to buy tickets for Mayweather Jr.’s fight next month with McGregor. A check online Saturday, July 29, 2017 revealed hundreds _ even thousands _ of seats still available from Ticketmaster at the T-Mobile arena for the Aug. 26 fight. There are so many open seats that fans with enough room left on their credit cards can buy six tickets together in 162 different spots throughout the arena. (AP Photo/Frank Franklin II)LAS VEGAS — Conor McGregor’s improbable challenge of Floyd Mayweather Jr. could be seen by a staggering 50 million people in the United States as fans and the curious gather in small and large parties.The fight Saturday night threatens the pay-per-view revenue record set by Mayweather and Manny Pacquiao two years ago and could dwarf it in viewership as people use the event as a reason to have friends and family over for a little escapism and controlled violence.ADVERTISEMENT LIST: Class, gov’t work suspensions during 30th SEA Gameslast_img read more

Three people injured in industrial explosion

first_imgRCMP continue to investigate the incident.  There are no concerns for the safety of the public and no expected travel delays as the incident occurred in a remote location. GRANDE PRAIRIE, A.B. –  Three people have been injured after an industrial explosion near Musreau Lake.On January 18, 2019, at approximately 2:30 p.m., Grande Prairie RCMP along with emergency personnel responded to an explosion of a compressor building at an oil and gas industrial site west of Musreau Lake, Alberta.   Three individuals who were working near the building were injured as a result of the explosion.  All three of the workers were transported to a local hospital with non-life threatening injuries.  last_img

Regional District issues evacuation order for property impacted by Sukunka Landslide

first_imgThe Regional District says there will be no entry into the property while the Evacuation Order is in place.For more information, you contact the Regional District at 250-784-3200.For updates, you can visit the Regional District’s website. CHETWYND, B.C. – The Peace River Regional District has issued an evacuation order due to the Sukunka Landslide in Chetwynd.The evacuation order has been issued for the house and surrounding area at 8657 Highway 29 South.According to the District, the occupants self-evacuated on March 23, 2019.last_img

Siddha Group introduces Rooftop Skyplex

first_imgSiddha Group, Eastern India’s leading real estate developer, recently announced a first-of-its-kind initiative, Rooftop Skyplex, at their projects with Skywalks to give Kolkatans an altogether new movie-watching experience like never before.Siddha Group has always been a pioneer in introducing new dimensions in real estate; be it the longest ever Rooftop Skywalk in the world at an affordable residential project or the Siddha homebuying App and more. Skyplex is an additional feature where Siddha home-buyers can watch movies at the open air Rooftop Skywalks in an amphitheater setting. Also Read – An income drop can harm brainA lot of residential condominiums have introduced the concept of mini theatres at their residential clubs but Siddha Group is going a step forward and introducing Rooftop Sky Theatre experience with Skyplex with modern projection technologies with hi-tech sound system at their Skywalks. “We have always added innovations in our projects which have made home buying and living experience for the customers better. With our Rooftop Skywalks being the talk of the town, we added this extraordinary feature in the form of Skyplex in our Skywalks. Because who wouldn’t love the experience of watching their favourite movies or watching their favourite teams fight it out at the fields, at the rooftop under the sky in the open air. Now-a-days it is all about providing unique experiences and we are sure this is something our customers will look forward to”, said Sanjay Jain, Managing Director, Siddha Group. Siddha will be adding this feature across their affordable Skywalk projects that include Siddha Sky at EM Bypass, Siddha Suburbia on Southern Bypass, Siddha Eden LakeVille on BT Road and Siddha Galaxia at Rajarhat. All the Skyplex are proposed to have a 2K projection and dolby digital sound system. Comfortable sit outs across the amphitheatre will provide ample seating space for the residents.last_img read more