Real estate news

• Denver luxury housing market sets new record

  06-06-2017 23:50
  
  The luxury market in Denver is reaching new heights as more homes priced above $1 million sold in May. The luxury market expanded by a full 38% from last year as home prices increased. The latest report from Denver Metro Association of Realtors shows the number of homes below $500,000 continues to dwindle.
  
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• Another New York real estate developer admits to meddling with local elections

  06-06-2017 23:28
  
  A few weeks ago, Kenneth Nakdimen, a New York real estate developer admitted in court that he tried to interfere with a local election, including using fake voters, to try to advance stalled construction projects. And Tuesday, one of Nakdimen’s co-conspirators, Shalom Lamm, pleaded guilty to similar charges for his role in trying to sway a mayoral election in Bloomingburg, New York.
  
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• Consulting firm MTG Services hires two executives

  06-06-2017 23:15
  
  “Richard and Scott come to MTG Services with decades of experience spanning all facets of mortgage origination and servicing. Their collective ability to blend strategy, analytics, operations and business development is something rarely seen in the industry and we are excited to have them on the team,” said James Zeldin, president of MTG Services.
  
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• Colony Starwood Homes buys $815 million portfolio of single-family rental homes

  06-06-2017 22:53
  
  When Colony Starwood Homes got out of the non-performing loans business last year and sold off 1,675 NPLs for $265 million, the real estate investment trust said that it planned to use the funds from that sale to grow its portfolio of single-family rental homes. This week, Colony Starwood followed up on that promise and is growing its SFR business by agreeing to buy 3,106 single-family rental homes from GI Partners for $815 million.
  
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• New American Funding hires industry vet Sue Silverman

  06-06-2017 22:38
  
  Silverman, an industry veteran with more than 30 years of experience, will focus on broker relations, loan structuring and work with senior leadership in selecting new loan products to be offered by the company.
  
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• NAR’s REach® Technology Accelerator Selects Class of 2017

  06-06-2017 22:10
  
  NAR PULSE—Second Century Ventures, the strategic investment arm of the National Association of REALTORS®, recently announced its 2017 REach® class, featuring a roster of startups focused on security, process digitization, information transfer and more. The selected companies in this year’s class include: Adwerx, Centriq, HouseCanary, immoviewer, Notarize, Occly, Pearl Certification, Relola and Trusted Mail. Learn more about the REach® Class of 2017. Get started.
  Go Green
  
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• Investors: Here are the top markets to invest in rental properties

  06-06-2017 22:08
  
  Home prices are outpacing rental prices, however rental prices are still showing annual gains. In fact, only four markets in the top 25 saw annual decreases in rental prices. A new study shows the top markets where investors can make the most average gross yield.
  
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• Predictive Analytics: The Crystal Ball of Business

  06-06-2017 22:07
  
  Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:
  ·      10 Home Improvements to Make This Weekend·      Garden Design: Intertwining the Inside and Outside of your Home·      Now You Can Live Like Top Talent in Los Feliz
  Thanks to technology, businesses in every industry are inundated with countless amounts
  
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• Research: Home Equity Major Retirement Asset for Most

  06-06-2017 21:59
  
  One of the most significant advantages of owning a home is the ability to build wealth—and according to a recent report from the Employee Benefit Research Institute (EBRI), home equity is one of the top two assets households rely on in retirement, barring pension or Social Security benefits.
  The report, “Importance of Individual Account Retirement Plans and Home Equity in Family Total Wealth,” compared assets in households headed by those between the ages of 25 and 64, computin
  
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• Speaker of the House: 5 reasons to support the Financial CHOICE Act

  06-06-2017 21:12
  
  With the Financial CHOICE Act set to go for a vote before the full House of Representatives later this week, Speaker of the House of Representatives, Paul Ryan, R-Wis., chimed in on the discussion to explain why the act is so important. So far, the act only garnered partisan support, failing to gain a single Democrat vote in the Financial Services Committee.
  
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• CoreLogic expanding valuation business, announces acquisition of Mercury Network

  06-06-2017 20:22
  
  Over the last several years, CoreLogic launched and significantly grew its valuations division through a series of substantial acquisitions, buying LandSafe Appraisal Services, FNC, and RELS for a total purchase price of approximately $587 million. And it looks like CoreLogic isn’t done growing its valuations business either, as the company announced Tuesday that it is acquiring Mercury Network.
  
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• Real estate professionals remain confident about their professional prospects

  06-06-2017 19:09
  
  Real estate professionals are more optimistic about transaction volume growth in the second quarter this year, however they are still less optimistic than last year. Refinance transactions are projected to see the most transaction growth in the coming months.
  
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• Supreme Court scales back SEC’s enforcement power

  06-06-2017 18:58
  
  The Supreme Court ruled to scale back the Securities and Exchange Commission's enforcement power, handing a major victory to Wall Street firms. The decision provides more certainty and predictability to the enforcement process for Wall Street firms. Meanwhile, the court case carries similarities to the ongoing landmark case between the Consumer Financial Protection Bureau and PHH.
  
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• Here’s how TRID impacted mortgage defects in 2016

  06-06-2017 17:59
  
  After the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure rule in October 2015, the industry dedicated most of its attention in 2016 to working out how to originate under the rule. New data from ARMCO displays exactly how effectively the industry adjusted to the rule throughout 2016. Check out the following charts and data to see if TRID is still hampering growth.
  
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• Trump chooses former OneWest CEO Joseph Otting to lead OCC

  06-06-2017 17:48
  
  One of the country’s top banking regulators is one giant step closer to having a banker leading it. The Trump administration officially confirmed the rumors on Monday evening, announcing that President Donald Trump intends to nominate Joseph Otting to serve as the next Comptroller of the Currency.
  
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• CoreLogic: Bidding frenzy sends home prices soaring

  06-06-2017 16:53
  
  Home prices jumped in April after a drop in interest rates sent buyers flooding into the market. CoreLogic’s forecasts suggests home prices will continue to increase into next month and next year, but at a slightly slower pace. April’s gains in home prices grew at more than double the pace of rental price increases.
  
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• Tell-Tale Signs That You're Buying In An Overheated Real Estate Market - Forbes

  06-06-2017 15:09
  
  Forbes
  Tell-Tale Signs That You're Buying In An Overheated Real Estate Market
  Forbes
  It's not easy to be a home buyer today. Many parts of the U.S. are seeing low inventory, leading to bidding wars and other affordability concerns. Additionally, with the likelihood of at least two more interest rate increases from the Fed in 2017 and ...
  
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• Confirmation hearing for HUD Deputy Secretary nominee Pam Patenaude set for June 6

  06-06-2017 00:04
  
  Pam Patenaude’s day on Capitol Hill is nigh upon us. Patenaude, the Trump administration’s choice to serve as the deputy secretary of the Department of Housing and Urban Development, will appear before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday for her confirmation hearing.
  
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