Just under a quarter – that is 24.6% – of all single family home and condo sales in May were all-cash purchases, down from 28.5% in the previous month and down from 30.4% a year ago. Distressed sales are drying up. Want to know more?
Vandalism and break-ins can be a big problem for investor-owned and REO portfolios, and one former home flipper developed a solution after he realized that alarm systems don’t really offer any protection.
Despite rising rents, investors still prefer fixing and flipping houses as opposed to buying a house for the purpose of renting it out, according to a new report from Auction.com. But results vary depending on whether the house was purchased at a live auction or an online auction.
The drop from 2013’s total of cash sales marks the 23rd straight month that the amount of cash sales has fallen year-over-year. November’s figure did rise slightly from October’s total of 35.5%, but CoreLogic notes that an increase in cash sales is typical in the fall and winter months.
Institutional investors — entities that purchase at least 10 properties in a calendar year — accounted for just 4.3% of all sales of single family homes and condos in the second quarter, according to RealtyTrac’s third quarter 2014 report.
One of the early alarm-sounders on the rise of REO-to-rental is trying to fire up the discussion over what he sees as a potential threat to the housing market in the rise of investor-owned rental homes and the securitization of REO.
Pending home sales fell for the eighth straight month, down 0.8% from the downwardly revised January report and down 10.5% from February 2013, according to the index from the National Association of Realtors.
All of the sectors of the housing economy now — real estate, lending, servicing and investing — are navigating unchartered territory. The challenges are new and the processes scrutinized as never before. Against that backdrop, we at HousingWire thought it was appropriate to recognize the tremendous leadership within the mortgage space with our first annual HW Vanguard Awards. Companies in our business couldn’t have survived the crisis, or formed in this brave new world, without serious leadership..
On the multi-borrower side, the potential for volume is massively larger than on the single-family side, but the challenge until now has always been on how to scale this side of the business.</p> Read More
Over the past eight years, housing counselors and the mortgage servicing industry have learned a lot, and it’s our joint responsibility to avoid the mistakes of the past, to maintain momentum, and to create new pathways for homeowner-centric loss mitigation practices that have sustainable homeownership as the No. 1 objective. Read More