Downward angle icon Downward angle icon. Interest-only mortgages were much more tightly regulated after the financial crisis, but higher-income borrowers are now turning to them as home prices remain high. Lance McMillan/Getty Images Some Americans who are higher-income but not yet wealthy are opting for nontraditional mortgages. Interest-only mortgages offer lower monthly payments, at least at first, but can be risky. These mortgages are ideal for luxury property buyers who have money to invest elsewhere. As home prices and mortgage rates soar, prospective homebuyers, even those with the means, are looking for ways to ease the cost burden.Some high-income but…
Author: Private Lending Agent
Introducing our newest agent, Julia (aka Jules) Murray. Jules is an Olympian and marketing professional with all things local knowledge, born and raised in Whistler. Her roots run deep in the city, as her late father was the legendary Dave Murray. She has held various roles as an entrepreneur and marketing professional in the plant-based nutrition world for many years, but now she is ready to use her versatility, experience and local knowledge to follow in the footsteps of her mother and stepfather, Ray, and jump into the next chapter of her career life as a Realtor. With her natural…
Home resale activity fell again in the third quarter, but profit margins reached their highest level since mid-2022, ATTOM said. Home flippers' profits have risen for three straight quarters this year as home prices have moved in their favor, boosting the value of properties that investors renovate between buying and selling. This resulted in gross profit of $70,000, up from $66,500 in the second quarter, and while still well short of the all-time high of $102,063 for 2022, it signals a steady recovery in the investment sector. Similarly, profit margins rose to 29.8% from 29% in the second quarter and…
Don't consider adding more floor space: “Tip: This can add a lot to the final value of your home,” says Todd.Ignore local factors: The laid-back, small-town pace of business in rural areas will irritate some real estate agents, while others will be put off by the red tape and unfriendly bureaucracy of big-city building permits. Either way, you'll need to deal with it and factor it into your estimate of how long it will take to flip the home you're considering.”We strongly encourage people to understand what the trends are in their local government before they buy a home,” Carino…
The housing market could see a surge in much-needed inventory over the next few years, as as many as 24 million homes become ripe for renovation, according to New Western, creating opportunities for renovating and reselling investors.For real estate investors focused on buying older homes, renovating them and putting them back on the market, the expansion is set to shift the U.S. housing market next year and could continue through 2027, real estate brokers said. Home resales already appear to be on the rise in parts of the U.S. According to the firm, activity from new Western investors in cities…
Downward angle icon An icon in the shape of a downward angle. A home is listed for sale in Arlington, Virginia, on July 13, 2023. Saul Loeb/AFP/Getty Images According to ATTOM, margins and profits on home flipping reached their highest levels since mid-2022. Rising home prices this year have helped boost values of resold properties. “The resurgence of the home flipping industry looks like a real trend, not just a temporary hiatus after a pretty dark few years.” Home resale activity fell again in the third quarter, but profit margins reached their highest level since mid-2022, ATTOM said. Home flippers'…
Resale rates declined for the second consecutive quarter, while profit margins increased again. Investment income continued to recover after two years of declines, and resale profits rose to their highest level since mid-2022. IRVINE, CA – December 14, 2023 – ATTOM, a leading curator of land, real estate and property data, today released its U.S. Home Resales Report for Q3 2023. According to the report, 72,543 single-family homes and condominiums were resold in the U.S. during the third quarter. These transactions represent 7.2% of all home sales in the July-September 2023 months, or 1 in 14 home sales nationwide. Watch:…
Downward angle icon Downward angle icon. In a recent report, New Western said the “major renovations” will continue through 2024. Johner Images The U.S. housing market could see a wave of inventory due to an increase in home resales. Fix-it-and-flip investor activity has already increased this year, according to real estate brokerage New Western. The firm estimates that up to 24 million homes could be opportunities for fix-it-and-flip investors. The housing market could see a surge in much-needed inventory over the next few years, as as many as 24 million homes become ripe for renovation, according to New Western, creating…
Share WASHINGTON, DC (December 14, 2023) — Commercial/multifamily mortgage debt outstanding increased by $37.1 billion, or 0.8%, in the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) latest quarterly commercial/multifamily mortgage debt outstanding report.As of the end of the third quarter, total commercial/multifamily mortgage debt outstanding increased to $4.63 trillion. Multifamily mortgage debt alone increased $26.8 billion, or 1.3%, from the second quarter of 2023 to $2.05 trillion.”Commercial mortgage debt balances continue to grow despite continued declines in borrowing volumes,” said Jamie Woodwell, MBA's head of commercial real estate research. “Lower purchase and sale transactions and refinance…
December 14, 2023 NEW YORK, MIAMI, WASHINGTON, TORONTO – Blackstone Real Estate Debt Strategies (BREDS), Blackstone Real Estate Income Trust, Inc. (BREIT), Canada Pension Plan Investment Board (CPP Investments) and its subsidiary CPPIB Credit Investments III Inc., and funds affiliated with Rialto Capital (Rialto) today announced that they have entered into a newly formed joint venture with the Federal Deposit Insurance Corporation (FDIC) to acquire a 20% interest in the joint venture for $1.2 billion that holds a $16.8 billion senior mortgage portfolio in receivership following the failure of Signature Bank. The FDIC will retain 80% ownership of the joint…