The best and worst markets for house flippers

The best and worst markets for house flippers

Flippers nationwide bought at average 8% below and sold at 6% above

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
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Investments

The best and worst markets for house flippers

Flippers nationwide bought at average 8% below and sold at 6% above
Trey Garrison
In the second quarter on average flippers bought properties for an 8% discount below their estimated market value and re-sold them at an average 6% premium above their estimated market value.
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Here’s why home price growth will slow to 4% in 2015

Capital Economics says lingering crash weakness still dragging
Trey Garrison
Home-price growth has slowed across the board, and Capital Economics says the slowdown is on track to meet the company's forecast for inflation to slow to 4% in 2015.
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Bank of America urges judge to toss “Hustle” case verdict

Case links to Countrywide mortgages
Brena Swanson
Bank of America asked U.S. District Judge Jed Rakoff in Manhattan to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.
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Banks agency MBS holdings decline in second quarter

Barclays client note shows biggest gainers and decliners
Trey Garrison
The National Information Center has released consolidated financial statements for bank holding companies for the second quarter, according to a client note from Barclays, showing agency MBS holdings decreased by $4 billion for the top 50 banks by assets in their HTM and AFS portfolios.
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Watch a HousingWire writer do the ALS challenge with tomato soup

All because today's upward 2Q GDP revision was "unexpected"
Trey Garrison
It was an morning of unexpected surprises -- an upwardly revised GDP, and a Campbell's tomato soup shower.
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Vacancies drop again in Invitation Homes rental securitizations

Continues downward trend
Ben Lane
In Invitation Homes’ $1 billion single-family rental securitization, which launched earlier this year, the cash flow vacancy rate of the underlying properties fell to 5.4% as of July 31, down from June’s revised figure of 6.2%.
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Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
Ben Lane
The lawsuit alleges that former CEO Nat Hardwick used his access to “systematically deplete” the firm’s and title company’s accounts for “his personal benefit.” According to the court records, Hardwick allegedly misappropriated at least $30 million from the companies’ accounts through various measures. The news came to light after Fidelity National Financial bailed out LandCastle Title and stepped in as 70% owner.
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Want a preview of where the 2Q GDP revision is heading?

The CBO has a clue for one and all
Trey Garrison
Well, today the Congressional Budget Office released its revised estimate of the total 2014 GDP. Take a good guess what it bodes for Thursday's Bureau of Economic Analysis GDP revision.
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Are home prices the latest evidence housing is stalling, or bubbling?

It gets better? No, it gets worse – just like job growth and wage stagnation
Trey Garrison
The housing industry is not happy about recent housing data, including Tuesday’s home price releases, and it looks like it’s going to get worse before it gets better.
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FHFA: Home price growth up 0.8%, well below 2013 levels

Second quarter slowdown in growth continues pattern
Trey Garrison
The Federal Housing Finance Agency shows that U.S. house prices rose just 0.8% in the second quarter of 2014, according to its purchase-only, seasonally adjusted House Price Index
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