news aggregator

Daily market update: March 29, 2017

Wed, 2017-03-29 02:01

Mortgage rates plus all the latest real estate market news ...

Read more

Kennedy Wilson Europe Real Estate PLC Declares Dividend of GBX 12 (KWE) - Chaffey Breeze

Tue, 2017-03-28 21:06


Chaffey Breeze

Kennedy Wilson Europe Real Estate PLC Declares Dividend of GBX 12 (KWE)
Chaffey Breeze
Kennedy Wilson Europe Real Estate PLC logo Kennedy Wilson Europe Real Estate PLC (LON:KWE) announced a dividend on Friday, February 24th. Stockholders of record on Thursday, March 9th will be paid a dividend of GBX 12 ($0.15) per share on ...
Kennedy Wilson Europe Real Estate PLC - Receive News & Ratings DailyBBNS
Shares Of Kennedy Wilson Europe Real Estate (LON:KWE) Rated As Overweight By Analysts At JP MorganFiscal Standard

all 6 news articles »

Categories: Europe

Read more

Ex-Trump Aide Manafort Bought New York Homes With Cash - NBCNews.com

Tue, 2017-03-28 20:45


NBCNews.com

Ex-Trump Aide Manafort Bought New York Homes With Cash
NBCNews.com
Paul Manafort, Donald Trump's former campaign chairman, made millions through his work over the years for Ukrainian and Russian oligarchs. Manafort also bought New York City real estate, some of it in what appeared to be all-cash deals. And in a series ...

and more »

Categories: USA

Read more

EXCLUSIVE: Century Homebuilders inks partnership with South American fund - South Florida Business Journal

Tue, 2017-03-28 19:55


EXCLUSIVE: Century Homebuilders inks partnership with South American fund
South Florida Business Journal
Century Homebuilders Group, a long-time developer in Miami-Dade County, signed a partnership agreement with Pactia USA, a Colombia-based real estate fund, to work together for its South Florida projects. Led by Sergio Pino, Coral Gables-based Century ...

Categories: USA

Read more

San Antonio Board of Realtors to hold vote on whether to eject directors

Tue, 2017-03-28 18:30

Here's something that doesn't happen every day: One of the largest local Realtor associations in Texas will hold an emergency meeting next week to vote on whether two of their officers should be removed from the board of directors ...

Read more

What are the top 10 cities for millennial homebuyers?

Tue, 2017-03-28 17:33

Millennials are saddling up and moving to the South and West, according to realtor.com. “High job growth in markets such as Orlando, Seattl, and Miami, and the power of affordability in places like Albany and Buffalo are making these markets magnets for millennials,” said Javier Vivas, manager of economic research for realtor.com. ...

Read more

Trump's business network reached alleged Russian mobsters - USA TODAY

Tue, 2017-03-28 16:08


USA TODAY

Trump's business network reached alleged Russian mobsters
USA TODAY
To expand his real estate developments over the years, Donald Trump, his company and partners repeatedly turned to wealthy Russians and oligarchs from former Soviet republics — several allegedly connected to organized crime, according to a USA ...
Donald Trump's businesses appear to have ties with alleged Russian mobsters: reportSalon
Ex-federal prosecutor says shady Russian money is keeping the Trump Organization afloatThe Week Magazine

all 12 news articles »

Categories: USA

Read more

Hispanic Homeownership Rate Rises for Second Straight Year

Tue, 2017-03-28 15:29

Momentum Could Be Cut Short If Trump Carries Out Mass Deportation, Wall

Hispanics are an overriding force in homeownership, flouting national figures as they establish owner households at a rising rate for the second straight year.

According to the National Association of Hispanic Real Estate Professionals’ (NAHREP) recently released 2016 State of Hispanic Homeownership Report, the Hispanic homeownership rate increased to 46 percent last year, leading an against-the-trend charge in spite of a decreasing national rate. The Hispanic homeownership rate was 45.6 percent in 2015 and 45.4 percent in 2014.

In addition, more than 7.3 million Hispanic households owned their homes in 2016, with 330,000 new households added—38 percent of all households formed.

What drivers are compelling Hispanics toward homeownership? Owning a home, for one, remains a hallmark of their American Dream. The majority of Hispanics view homeownership as a viable investment vehicle for wealth-building, as well as ideal for child-rearing.

“The significance of a strong desire for homeownership cannot be overstated,” the report states. “Where there is a will, there is generally a way.”

More members of the industry, secondly, are working to meet the unique needs of Hispanic homebuyers, especially in terms of financing.

“While the Hispanic market has outgrown the ‘niche’ segment designation, the housing industry is just beginning to fully recognize its significance to the vitality of the overall market and is responding with products and services that are more relevant to the needs of Hispanic consumers,” states the report, citing recent initiatives helmed by Bank of America, Fannie Mae and Freddie Mac, and Wells Fargo.

Financing, still, is a hurdle. Hispanics were denied mortgages at a rate of 17.3 percent in 2016, approximately nine percentage points higher than the rate for non-Hispanic whites. Sixty-seven percent of Hispanics believe it is “difficult” to obtain a mortgage, limited by an inability to afford closing costs and a down payment, or lacking credit—characteristics typical of first-time homebuyers, of which roughly half are Hispanic. Twenty-seven percent of Hispanics, notedly, have no credit score.

The obstacle could be chipped away with the addition of more “culturally competent” members of the industry—another impediment to Hispanic homeownership. Only 7 percent of real estate agents and 4 percent of mortgage professionals are Hispanic; 25 percent of Hispanics, however, would prefer to work with a Spanish-speaking agent. Many professionals, also, are unware of Hispanic cultural norms.

“Hispanics tend to reside in a multigenerational household of a typical nuclear family and include additional family members like grandparents or other adult relatives, all of whom contribute to household expenses,” the report states. “These influencing factors are interconnected with their culture and affect how they bank…Access to culturally competent real estate and mortgage professionals who speak Spanish and can recommend appropriate solutions to meet their needs creates a level playing field.”

Another potential headwind? Policies by the Trump Administration that could sap the Hispanic segment—namely, a mass deportation effort and a wall between Mexico and the U.S. Hispanics comprise two-thirds of the undocumented population in the U.S., and the undocumented population makes up 15 percent of the construction workforce. Cutting that contribution through mass deportation would be harmful to housing, according to NAHREP.

“High costs for material and labor already limit the supply of new affordable housing,” states the report. “The removal of substantial portions of existing workers will drive up home prices and exacerbate current inventory shortages, which are already at crisis levels.”

Deportation has an ulterior effect, as well: more foreclosures.

“[A study shows] a detrimental synergy between deportations and foreclosures, which could result in prolonged stagnation of the housing market in areas with high immigration enforcement policies,” the report states.

As for the wall, NAHREP proposes that “the federal government…focus its efforts on comprehensive immigration reform strategies which would constitute a more effective use of $21.6 billion than a border wall,” recommending a multipronged approach involving deportation relief, immigrant and non-immigrant visas and a path to citizenship.

For real estate professionals, Hispanics represent a sustainable, vast opportunity. Ninety percent of Hispanics would prefer to own a home than rent one in the future, and 62 percent are more likely to buy a home than rent one for their next move. In 2016, Hispanics had a purchasing power of $1.4 trillion—a number that will continue to compound as incomes and Hispanic-owned businesses grow.

For more information, please visit www.nahrep.org.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Hispanic Homeownership Rate Rises for Second Straight Year appeared first on RISMedia.

Read more

With American Home Shield®, All Systems Are Go

Tue, 2017-03-28 15:25

NAR PULSE—A home warranty offer is available to members of the National Association of REALTORS® (NAR) from American Home Shield®. Coverage now includes the same features previously only available as part of a real estate transaction. As always, NAR members enjoy a $50 savings through NAR’s REALTOR Benefits® Program. Learn more.

Are You Reaching Millennials With Your Marketing?
In the brand new NAR REALTOR® Store webinar, How to Reach Millennials Through Instagram and Snapchat, you will learn best practices for maximizing these fast-growing platforms, which are ideal in connecting with the next generation of homebuyers and sellers. Use code WEB17 to get 10 percent off your purchase through April 10! Get your copy.

Tax Discounts and Free Expense Management
NAR members can enjoy $20 off on TurboTax® Self-Employed, and get a bonus free year of QuickBooks Self-Employed through the REALTOR Benefits® Program. File your 2016 taxes and increase your deductibles for 2017 in one fell swoop. Start saving.

For the latest real estate news and trends, bookmark RISMedia.com.

The post With American Home Shield®, All Systems Are Go appeared first on RISMedia.

Read more

Positive Trends to Emerge for Buyers in 2017

Tue, 2017-03-28 15:22

In 2016, home prices experienced increases, despite the predictions of many that prices would fall for the first time since the recovery began. Home price gains were buoyed mostly by limited inventory, with entry-level homes being particularly short in supply.

Many areas across the country saw sales prices touch their pre-2007 values, while mortgage rates remained historically low. Nationally, home values increased 3.85 percent from the previous year. The number of unsold homes in the United States fell to 1.65 million units at the end of 2016, as reported by the National Association of REALTORS®, the lowest since 1999, when they first started tracking this data.

Market conditions continue to vary greatly across the country, but there’s a positive trend emerging for buyers in 2017. As demand for homes remains strong, inventory will continue to be a challenge, but there are signs that the situation will improve. The National Association of Home Builders predicts 1.24 million housing starts in 2017, compared to the 1.16 million starts in 2016. Additionally, home builder sentiment has been gradually trending upward.

In the first month of Donald Trump’s presidency, we witnessed the Dow Jones Industrial Average close over 20,000 for the first time in history, and the administration has made it clear that business-friendly policy will be a priority. The administration also signaled it will encourage infrastructure investment and a more positive monetary policy. These conditions, coupled with a rising interest rate environment, can stimulate a gradual increase in inflation.

Mortgage interest rates are mostly impacted by movements in the bond market, not the Federal Reserve’s short-term interest rate policy. The bond traders that influence long-term rates (like those used for mortgages) are trying to make educated guesses about where the economy will be in 10-15 years. Some of these predictions, which are focused on growth, can lead to higher rates.

Looking ahead, we’ll need to keep an eye on affordability throughout the year, with the possibility of increased home prices combined with potentially higher rates creating challenges in some markets.

In the near term, I’m sure spring 2017 will be a robust home-buying season. Consumers will be competing for available homes and rushing to lock in their low interest rate.

Derek Latka is vice president of Business Development for Quicken Loans.

For more information, please contact the Quicken Loans Agent Relations team at AgentRelations@QuickenLoans.com or (866) 718-9842, or visit Agent.QuickenLoans.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Positive Trends to Emerge for Buyers in 2017 appeared first on RISMedia.

Read more

Top Alaska indie brokerage merges with Keller Williams mega team

Tue, 2017-03-28 14:35

Top independent brokerage Madden Real Estate in Fairbanks, Alaska, owned by Wes Madden, has been sold to Keller Williams Alaska, to be merged with the Dar Walden Team, a Keller Williams mega team ...

Read more

Mortgage Preflight to dish legitimate buyer lead credit scores in minutes

Tue, 2017-03-28 12:45

Soon, there will be a way for buyers to find out their mortgage scores without approaching a lender, at least not directly. It’s called Mortgage Preflight, and it’s a pre-qualification system that can be accessed by real estate agents ...

Read more

Metrospaces Announces Restructuring of Assets and Refocus of Business Plan to the USA - Marketwired (press release)

Tue, 2017-03-28 12:12


Metrospaces Announces Restructuring of Assets and Refocus of Business Plan to the USA
Marketwired (press release)
MIAMI, FL--(Marketwired - Mar 28, 2017) - Metrospaces, Inc. ( OTC PINK : MSPC) announces the restructuring of its Venezuelan assets and negotiations to acquire businesses and real estate projects in the U.S.A.. Mr. Silva, Metrospaces CEO, stated: "The ...

and more »

Categories: USA

Read more

Metrospaces Announces Restructuring of Assets and Refocus of Business Plan to the USA - MarketWatch

Tue, 2017-03-28 12:11


Metrospaces Announces Restructuring of Assets and Refocus of Business Plan to the USA
MarketWatch
MIAMI, FL, Mar 28, 2017 (Marketwired via COMTEX) -- MIAMI, FL--(Marketwired - Mar 28, 2017) - Metrospaces, Inc. (otc pink:MSPC) announces the restructuring of its Venezuelan assets and negotiations to acquire businesses and real estate projects in the ...

and more »

Categories: USA

Read more

If You Lack Direction On Pennsylvania Real Estate Investment Trust (PEI), You Need to Read This - USA Commerce Daily

Tue, 2017-03-28 10:30


USA Commerce Daily

If You Lack Direction On Pennsylvania Real Estate Investment Trust (PEI), You Need to Read This
USA Commerce Daily
With all other things going on, Pennsylvania Real Estate Investment Trust (NYSE:PEI) has been on a free fall — declining -23.58 percent in just three months. It looks like traders are not happy with the stock. On the other side, analysts now consider ...
RPC, Inc. (RES), Pennsylvania Real Estate Investment Trust (PEI) Stock Eyes Ahead of EarningsThe USA Commerce

all 180 news articles »

Categories: USA

Read more

Trump's childhood home resold for massive profit - WKMG Orlando

Tue, 2017-03-28 10:02


THE BUSINESS TIMES

Trump's childhood home resold for massive profit
WKMG Orlando
"This property is so much more than just real estate," said Misha Haghani, founder of Paramount Realty USA, in a press release Monday announcing the deal. "That intangible value makes it a perfect example of why special properties are appropriately ...
Donald Trump's childhood home sold at auctionCBS News
Trump's childhood home in Queens sold for millions, auction house saysamNY
Donald Trump's childhood home in Queens closes at $2.14MNewsday
Mansion Global -THE BUSINESS TIMES
all 54 news articles »

Categories: USA

Read more

Inspecting more closely technicals of Apollo Commercial Real Estate Finance, Inc. (ARI) - USA Commerce Daily

Tue, 2017-03-28 09:32


USA Commerce Daily

Inspecting more closely technicals of Apollo Commercial Real Estate Finance, Inc. (ARI)
USA Commerce Daily
With all other things going on, Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) has been on a run — rising 10.71 percent in just three months. It looks like traders are happy with the stock. On the other side, analysts now consider Apollo ...

and more »

Categories: USA

Read more

A young agent’s take on how to succeed in the real estate business

Tue, 2017-03-28 09:31

Realtor and marketing coordinator Jay Luebke didn't waste any time getting his real estate license at the age of 18. Now that he has a few industry years under his belt, he shares how he got to this point and the key to getting clients to trust a young face with the heftiest financial transaction of their life ...

Read more

C&W: Global Real Estate Investors More Wary as Real Estate Cycle Matures - Chief Investment Officer

Tue, 2017-03-28 09:27


Chief Investment Officer

C&W: Global Real Estate Investors More Wary as Real Estate Cycle Matures
Chief Investment Officer
Investors are looking to deploy as much as $435 billion in real estate investments globally in 2017, according to Cushman & Wakefield, based on new capital raised, including debt and equity financing, for this purpose. Although down 2% from 2016 levels ...

Categories: Europe

Read more

Syndicate content

Have Questions?

reCAPTCHA