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Tag Archives: Rent prices

NAR: CRE Recovery Slow but Steady

Slow job creation and tight loan availability are hindering otherwise positive growth in commercial real estate, the National Association of Realtors (NAR) reported. While ""positive underlying fundamentals"" helped boost all of the major commercial real estate sectors, growth in some areas has been tempered by various issues, including job growth and shifts in demand.

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Key Risks for Single-Family Rental Securities: Moody’s

A surplus of REO inventory from financial institutions, demand for single-family rentals, tight lending standards - these are just a few reasons interest has developed for securities backed by cash flows from single-family rental properties. While interest has formed for good reasons, there are still risks involved. In a recent report, Moody's Investors Service highlighted two key factors that can be used to determine credit risk for such transactions: Performance of an operator or manager and the variability of the cash flow from rentals and property dispositions.

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Zillow: July Sees More Home Value Gains, Market to Cool in Fall

Zillow released on Tuesday its Real Estate Market Reports for July, revealing that the company's Home Value Index hit $151,600 for the month, a 0.5 percent gain from June and a 1.2 percent increase year-over-year. Of the metro areas covered in the reports, 62 percent saw home values climb during July, with only 49 of the 167 areas posting declines.

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CitiMortgage to Launch Home Rental Program as Foreclosure Alternative

CitiMortgage announced the launch of the Home Rental Program, a program designed to provide an alternative to foreclosure and allow eligible borrowers to stay in their homes. Under the program, the eligible borrower transfers ownership of the property to a vehicle established by Carrington Capital and its joint venture partner, Oaktree Capital Management, L.P. A lease will then be established for the property at a manageable monthly payment.

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To Rent or Own: How Consumers Decide Between the Two

In a study to examine what factors would drive a person to rent or own in their next move, Fannie Mae found that a mix of demographics and attitudinal drivers were key, while negative housing events appears to do little to thwart would-be buyers. The study categorized respondents into three groups: renters, those with a mortgage, and outright homeowners. The study found that renters tended to be younger and fall into the low income category.

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Zillow: Buying Better Option than Renting for Most of U.S.

A new analysis released by real estate marketplace Zillow revealed that for most buyers who intend to spend at least three years in a home, buying is a better option than renting. An analysis of the ""breakeven horizon"" in more than 200 metros and 7,500 cities showed that in more than 75 percent of metros examined, a homeowner would break even after owning a home for three years or less.

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New Asset Management Firm Plans to Invest $1B into Distressed Homes

A new asset management firm announced plans to invest over $1 billion into distressed properties and convert them into rental homes. Sylvan Road Capital, LLC, which launched Wednesday, was co-founded by a former head of U.S. housing strategy at Morgan Stanley, Oliver Chang. According to a company release, the $1 billion will be invested over the next two years, and Sylvan Road will acquire over $300 million in distressed single-family homes through initial capital from an unnamed private equity firm.

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June Sees Housing Confidence Boost in Spite of Economic Worries

Downturns in economic confidence hasn't shaken consumers' optimism in the housing market, Fannie Mae's National Housing Survey for June showed. According to the survey, the average home price expectation rose to 2 percent in June, up 0.6 percent from May and the highest recorded value since the survey began two years ago. In addition, 35 percent of respondents expect that home prices will go up in the next year, the highest level recorded since the survey's inception.

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Wells Fargo Group Reports Housing Gains, Cautions Against Optimism

In a report released Thursday, Wells Fargo's Economics Group cautioned that although the housing recovery is picking up steam, the good news needs to be placed in the larger context of a weakened market. The Housing Data Wrap-Up for June 2012 shows that even with the overall economy slowing, the recovery in the housing market seems to be picking up momentum. A mild winter boosted construction in the Northeast and Midwest during what is traditionally a slow season, giving builders more inventory to sell in the spring.

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