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REAL ESTATE

Foreign Real Estate Investors Plot Their Return

September 28, 2021 by Staff Reporter

As signs that the second wave of COVID-19 is beginning to wane and travel restrictions loosen, foreign investors are looking to return to the U.S., potentially driving up home prices in an already record-breaking market.

According to a MarketWatch article by Jacob Passy, foreign investment is at a 10-year low.

“These travel bans haven’t just hurt the hospitality sector—it’s also led to a significant downturn in international investment in U.S. real estate,” Passy said. “International buyers only purchased 107,000 residential properties in the U.S. between April 2020 and March 2021, a 31% decrease from the previous year, according to data released in July by the National Association of Realtors. It represented the lowest level of foreign investment in a decade.”

It is not just travel bans that are restricting foreign investments, but backups at consulates and embassies have limited the number of visas being issued. In addition, foreign investors are less likely to purchase property sight unseen, unlike many Americans during the pandemic who purchased properties digitally with the rise of video walkthroughs and 3D technology

“They are used to touching and feeling their investments, because for them, the U.S. is their safety net,” said Edward Mermelstein, Founder of One and Only Holdings, a New York-based advisory firm for high-net-worth investors. “For them to not be able to look at and experience whatever they’re putting their money into is a psychological issue.”

According to Auction.com, the share of purchases by out-of-country buyers dropped from 12% in the Q1 of 2020 to just 8% in Q1 of 2021.

The downturn was especially prominent among the top buyers of U.S. real estate. China, Canada, and Mexico rank among the largest buyers of American homes and condos, but the dollar volume of investments from these countries dropped by 50% or more this year.

Markets on the East and West Coasts will benefit the most from the return of foreign investment, based on past investments.

“For the past 13 years, Florida has represented the top destination for foreign buyers, representing 21% of international purchases,” Passy said. “In 2021, California came in second at 16%, followed by Texas (9%) and Arizona (5%), with New Jersey and New York close behind at 4%. Where foreign money flows now that travel is easier, home prices will likely increase.”

“The travel ban likely contributed to an easing of demand from foreign buyers of U.S. real estate, but that didn’t do much to slow the rapid rebound in the U.S. housing market in the second half of 2020 and so far in 2021,” said Daren Blomquist, VP of Market Economics at Auction.com. “Adding the foreign buyer demand back into the mix will likely only add more fuel to fire of the already red-hot housing market.”

While cities such as Los Angeles, Miami, New York, and San Francisco have traditionally seen the most foreign investments in the past due to their strong housing markets, Blomquist said he predicts that more money may be headed to single-family housing which has seen major growth since the start of the pandemic.

“I wouldn’t be surprised to see the investment thesis of foreign investors shift to more affordable, less dense inland housing markets given the pandemic-accelerated shift toward those types of markets and away from the higher-cost, denser housing markets on the coasts,” Blomquist said.

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Filed Under: REAL ESTATE

Rare, Live Puerto Vallarta Auction Set For Stunning MX Oceanview Home

September 1, 2021 by Staff Reporter

Villa Serinidad is a stunning home cascading down several floors with 270-degree ocean views. Built to comfortably house a large family and guests, its 6 bedrooms includes 3 Casitas that make this property a potential boutique hotel or Airbnb. There are even quarters for a live-in owner or caretaker.

“Anyone would love to visit or live in this beautiful hillside home,” said Fontana Fitzwilson, Executive Vice President of Williams & Williams. “It’s filled with beautiful architectural details that you find in high-end homes in Mexico, and there’s a million-dollar view from every room!” She added that unlike the U.S. real estate market where a simple 1 bedroom condo in Santa Barbara can sell for upwards of $2 million, Puerto Vallarta real estate is incredibly affordable and offers significant value. “It’s amazing how much buying power we have in Puerto Vallarta.”

Villa Serenidad is located in Mismayola, a gated community with guards. The property is located in the desirable Zona Romantica and there is easy access to restaurants, beaches, entertainment and shopping. 

Most of the home’s furnishings will convey with the real estate. Interested bidders should visit williamsauction.com/PV to see photos, terms of sale and to view the purchase contract, or call 800.801.8003 for a referral to learn how U.S. residents can purchase coastal real estate in Mexico.

The home will be open for public inspection Fridays August 27 and Sept 10 from 1-4pm. Prospective buyers may also call to schedule a private tour. Many airlines currently offer daily flights to Puerto Vallarta from the US and beginning in 2022, Jet Blue will add flights from JFK in New York to the resort town.

About Williams & Williams Williams & Williams (www.williamsauction.com) is a worldwide real estate auction firm and the leader in global live and interactive auctions. A full-service brokerage with an operating footprint in North America, the company is part of the Insight One Solutions family of companies. Williams & Williams also cooperatively partners with residential, commercial and land brokers to auction property throughout the United States and abroad

SOURCE Williams & Williams Real Estate Auctions

Related Links

http://www.williamsauction.com

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Filed Under: REAL ESTATE

LGBTQ+ Real Estate Alliances signs agreements with Realtor Associations to increase community’s Homeownership Rate » RealtyBizNews: Real Estate News

August 31, 2021 by Staff Reporter

The LGBTQ+ Real Estate Alliance has signed separate Memorandums of Understanding (MOUs) with the California Association of Realtors®  (C.A.R.), Indiana Association of Realtors®, North Carolina Association of Realtors®, Houston Association of Realtors® and the D.C. Association of Realtors®. 

The agreements will allow The Alliance, which launched in October 2020 and now has more than 1,500 members, and its local chapters to engage with association leadership and membership on Fair Housing initiatives, diversity, equity and inclusion (DEI) training and promoting the needs of LBGTQ+ home buyers and sellers. Several groups will provide financial support for their local Alliance chapters.

“We are thrilled that so many Realtor® associations want to partner with us to increase awareness within their membership as to how discrimination and unconscious bias towards the LGBTQ+ community are a deterrent on the path to homeownership,” said Ryan Weyandt, CEO of the LGBTQ+ Real Estate Alliance. “Not only are these groups aligning their DEI efforts with us, – they also have made a commitment to help us grow homeownership levels in their states and markets. Along with the National Association of Realtors®’ partnership, which we announced prior to Pride Month, these MOUs are indicative of the support we have within the industry.”

UCLA’s Williams Institute reports that the LGBTQ+ homeownership rate is 49.8%, which is far below the national average of 65.4%, according to the U.S. Census.

The Alliance now has MOUs with the following Realtor® groups:

  • Austin Board of Realtors®
  • Boise Regional Association of Realtors®
  • Canadian Real Estate Association®
  • D.C. Association of Realtors®
  • Houston Association of Realtors®
  • Indiana Association of Realtors®
  • Oregon Association of Realtors®
  • Ohio Realtors®
  • Missouri Realtors®
  • National Association of Realtors®
  • San Francisco Association of Realtors®

About LGBTQ+ Real Estate Alliance 

The LGBTQ+ Real Estate Alliance is a 501(c)6 non-profit dedicated to empowering the LGBTQ+ community on the path to homeownership as we also advocate on behalf of the community on housing issues. The Alliance, founded in June 2020, is an all-inclusive organization that works to improve the professional lives of its members through a public-facing Alliance Referral Community. The Alliance began accepting members in October 2020 and has more than 50 chapters in the U.S., Canada and Puerto Rico. For more information visit realestatealliance.org.  

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Filed Under: REAL ESTATE

How Anirudh Kataria (Andrew) is changing Real Estate Market Forever?

August 31, 2021 by Staff Reporter

Anirudh Kataria (Andrew) and his story of becoming a successfull real estate agent in California.

According to the late American singer, Luther Vandross, “a house is not a home” yet so many real estate professionals and firms completely neglect relationships and community with their clients. The realestate business has been cast aside as predominantly transactional. The bigger the company, the more it just does not make sense for them to focus on their relationships with customers. Anirudh Kataria (Andrew), a young entrepreneur and MD at Real Estate Diary www.realestatediary.org realized this shortcoming at a very young age and decided to build a platform that provides value and client-customer relationships.

Anirudh Kataria focuses on relationships with his high-touch, concierge-focused realestate firm – both with his clients and with the local and international communities. RealEstate Diary is truly one of a kind, offering every service in-house. By following this way Anirudh Kataria was successfully able to provide a high level of privacy and anonymity to the clients.

With over $10 million in recovered costs for clients and an excess of $20 billion in closed transactions, Real Estate Diary has become a dominant real estate brokerage firm along with a law firm in the US for clients who crave privacy and ease.

As a licensed real estate consultant, Mr. Anirudh Kataria undertakes realestate brokerage. Apart from that he also creates unique loan programs helping his clients to get their dream homes around California, Bay-Area, Palo-Alto, Concord, San-Francisco, and nearby cities.

Anirudh Kataria left his job after a very successful run when he knew he can add value to other people’s purchases with his expertise. After getting license he started his company. At first, things were challenging but nothing can stop a determined spirit. He was aware of the consequences of starting this journey. He knew very well that it’s a part of the process of becoming a full-time entrepreneur. He didn’t hesitate to put in consistent-time and continuous-efforts which led him to accumulate sales of over $50 million worth of residential realestate. He also achieved great success in property-flipping and wholesaled over 100+ properties at that time.

Growing through failures and glowing through success. Anirudh Kataria has been working his day in and day out on his business. He has always lived with modesty, minimalism, as he believes “less is more”. Living is not only about working hard but living well too and this man proves it with his lifestyle. Working hard, staying-fit, eating right, traveling to places, and happily living with his family are some of the qualities of this young entrepreneur. It is hard to believe that at the age of 29 he has achieved all that one can only desire. From being a true leader to being a successful businessman his journey emboldens many young entrepreneurs. Indeed Anirudh Kataria (Andrew) is the man behind one of the biggest US Real Estate business. He has over 12+ years of experience in the real estate and is an expert in tackling all situations and building good relations, with dedication and with his strong brokerage and refinancing skills.

Media Contact
Company Name: Real Estate Diary
Contact Person: Anirudh Kataria (Andrew)
Email: Send Email
Phone: 662-200-5160
Country: United States
Website: https://realestatediary.org/

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Filed Under: REAL ESTATE

U.S. Real Estate is No 1 Destination for Laundered Dirty Money

August 31, 2021 by Staff Reporter

Homes in Beverly Hills purchased with embezzled money by Kuwaiti officials. A skyscraper in the heart of Manhattan controlled by the Iranian government. Real estate investments from a boutique firm that received millions of dollars from Colombian drug cartels.

The Park Lane Hotel in Manhattan, New York was one of the properties purchased by a real estate investment firm partnered with Malaysian businessman Jho Low, who laundered more than US$4 billion from Malaysia’s sovereign wealth fund. (Photo: Park Lane Hotel, Wikimedia)All three examples are cited by a newly released report by Global Financial Integrity, a Washington-based think tank, which describes how dirty money has flowed through U.S. real estate, a sector that has proven popular for kleptocrats, criminals, and corrupt government officials to stash illicit funds.

The report stressed the need for more robust and targeted regulations and reform of current practices in real estate.

The conclusion was made after an analysis of a database of more than 100 real estate money laundering cases from the U.S., UK, and Canada from 2015 to 2020.

“The findings of the report demonstrate that the current approach of the U.S. is woefully inadequate, and that the country’s real estate sector poses significant national security risks by continuing to be a safe haven for criminals and kleptocrats,” the report reads.

At least US$2.3 billion has been laundered over the past five years through U.S. real estate, according to the report, though the estimate, which draws only on reported and known cases of money laundering, is almost certainly just a fraction of the real amount. By comparison, in the same timeframe, at least $1.1 billion and $626 million were laundered in the U.K. and Canada, respectively.

Real estate is preferred by organized criminal groups and corrupt officials as a vehicle for money laundering since its value is generally stable and appreciates over time, which lets criminals accumulate wealth and potentially turn an illicit investment into a legitimate one through rentals or development. Real estate deals are also subject to limited oversight, in contrast to bank accounts, which makes it easy to hide and protect ill-gotten wealth.

More than 80% of all U.S. cases involved money coming from abroad, and in 82% of cases, anonymous shell companies or complex corporate structures helped mask the identity of the property’s real owners.

Over half of U.S. real estate money laundering cases analyzed by the authors of the report involved a “politically exposed person” — that is, someone who’s been entrusted a position of public influence and power, making them at higher risk to be involved in corruption. That presents a problem, the report says, since identifying who is and is not a politically exposed person has been seriously underemphasized in current regulation.

The U.S. has one of the weakest regulatory frameworks to counter real estate money laundering amongst the G7 — an intergovernmental forum that also includes Canada, France, Germany, Italy, Japan, and the United Kingdom — despite being historically one of the first to target it.

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Filed Under: REAL ESTATE

Global Market Trends, Drivers, Restraints, Opportunities & Future Prospects (2021-2026)

August 31, 2021 by Staff Reporter

The latest report on ‘ Real Estate Market’ now available at Market Study Report, LLC, explains the current and upcoming trends besides details related to the regional landscape of the ‘ Real Estate market’ that includes numerous regions. The report further emphasizes intricate details regarding the demand and supply analysis, contributions by leading industry players and market share growth of the Real Estate industry.

The study on Real Estate market presents a comprehensive analysis of the key growth markers of this industry vertical in accordance with the regional outlook and competitive landscape. Also, the report discusses the prevalent challenges and limitations in this business sphere. Moreover, it renders a robust outlook on the opportunities that can turn in profit over the projected timeline. In addition, a conclusive overview of the impact of Covid-19 pandemic is included to empower stakeholders with the latest updates on changing market dynamics.

Request a sample Report of Real Estate Market at: https://www.marketstudyreport.com/request-a-sample/2904414?utm_source=cuereports&utm_medium=RV

Key highlights from COVID-19 impact analysis:

  • Contractions in economic growth due to the spread of COVID-19.
  • Shifts in the supply and demand facets.
  • Immediate and long-term impact of COVID-19 on business growth.

Other highlights from the Real Estate market report:

  • Competitive landscape of Real Estate market is defined by major companies such as Zillow,Us Real Estate,Trulia,Premium Real Estate,USRES,Domain,The Carlyle Group,Varia US Properties,Sotheby’s International Realty andCENTURY 21 Global.
  • Thorough assessment of the listed companies, including their manufactured goods as well as market remuneration and production patterns is offered in the report.
  • The study also provides information regarding the market share held by the companies, along with their gross margin and price patterns.
  • The report classifies the product terrain of the Real Estate market into Telemarketing,Network promotion marketing,Leaflet marketing,Experience room marketing andOthers.
  • Pivotal details regarding the revenue and volume estimates of every product type are showcased.
  • Other important aspects like market share, growth rate and production trends of each product over the analysis period are elaborated.
  • Application spectrum of the Real Estate market is divided into Real estate developers,Real estate dealer andReal estate agency.
  • The research evaluates the market share of each application and predicts their growth rate during the study period.
  • Industry share of each application and their growth rate forecasts are also expounded.
  • Major competition trends, as well as insights on the industry supply chain are highlighted.
  • Further, the report endorses Porter’s five forces analysis and SWOT analysis to realize the feasibility of a new project.

Ask for Discount on Real Estate Market Report at: https://www.marketstudyreport.com/check-for-discount/2904414?utm_source=cuereports&utm_medium=RV

An overview of the regional landscape:

  • Geographically, the Real Estate market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
  • Performance of the regional markets alongside their respective growth rate over the forecast timeframe is mentioned in the report.
  • Brief comprehension of the revenue generated, and sales garnered by region is included.

Comprehensive assessment of all opportunities and risks in the Real Estate market.

  • Real Estate market recent innovations and major events.
  • A detailed study of business strategies for the growth of the Real Estate market-leading players.
  • Conclusive study about the growth plot of the Real Estate market for forthcoming years.
  • In-depth understanding of Real Estate market-particular drivers, constraints, and major micro markets.
  • Favorable impression inside vital technological and market latest trends striking the Real Estate market.

This exclusive study addresses key questions for stakeholders in the Real Estate Market:

  • What are the key developments anticipated to take place in the Real Estate market during the period of 2020-2026?
  • What are the crucial strategies adopted by players operating in the Real Estate market?
  • Which end-user segment will remain a key contributor to the growth of the Real Estate market?
  • What are the important trends stimulating the growth of the Real Estate market?
  • Which application segment will bode lucrative growth opportunities for the Real Estate market?

For More Details On this Report: https://www.marketstudyreport.com/reports/global-real-estate-market-report-2020-by-key-players-types-applications-countries-market-size-forecast-to-2026-based-on-2020-covid-19-worldwide-spread

 

Related Reports:

1. Global Elastic Bandage Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries
Read More: https://www.marketstudyreport.com/reports/global-elastic-bandage-market-development-strategy-pre-and-post-covid-19-by-corporate-strategy-analysis-landscape-type-application-and-leading-20-countries

2. Global Packaging Printing Market Development Strategy Pre and Post COVID-19, by Corporate Strategy Analysis, Landscape, Type, Application, and Leading 20 Countries
Read More: https://www.marketstudyreport.com/reports/global-packaging-printing-market-development-strategy-pre-and-post-covid-19-by-corporate-strategy-analysis-landscape-type-application-and-leading-20-countries

 

 

 

 

 

Contact Us:
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Filed Under: REAL ESTATE

WisdomTree – WisdomTree Global ex-US Real Estate Fund (DRW) falls 0.09% on Moderate Volume August 24

August 30, 2021 by Staff Reporter

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DRW – Market Data & News

WisdomTree Trust – WisdomTree Global ex-US Real Estate Fund (NYSE: DRW) shares fell 0.09%, or $0.0249 per share, to close Tuesday at $26.53. After opening the day at $26.48, shares of WisdomTree – WisdomTree Global ex-US Real Estate Fund fluctuated between $26.53 and $26.48. 3,032 shares traded hands a decrease from their 30 day average of 7,980. Tuesday’s activity brought WisdomTree – WisdomTree Global ex-US Real Estate Fund’s market cap to $61,023,600.

Visit WisdomTree Trust – WisdomTree Global ex-US Real Estate Fund’s profile for more information.

About The New York Stock Exchange

The New York Stock Exchange is the world’s largest stock exchange by market value at over $26 trillion. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals. 63% of SPAC proceeds in 2020 were raised on the NYSE, including the six largest transactions.

To get more information on WisdomTree Trust – WisdomTree Global ex-US Real Estate Fund and to follow the company’s latest updates, you can visit the company’s profile page here: WisdomTree Trust – WisdomTree Global ex-US Real Estate Fund’s Profile. For more news on the financial markets be sure to visit Equities News. Also, don’t forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week.

Sources: Chart is provided by TradingView based on 15-minute-delayed prices. All other data is provided by IEX Cloud as of 8:05 pm ET on the day of publication.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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Filed Under: REAL ESTATE

HQ Capital Real Estate Finalizes Strategic Partnership, Rebrands

August 30, 2021 by Staff Reporter

NEW YORK CITY—HQ Capital Real Estate, a highly disciplined U.S. real estate manager specializing in multifamily investments, has closed on its transaction with Concord Pacific and Paragon Real Estate Advisors and rebranded to “CP Capital”.

The new partnership, which was previously revealed in June 2021 and closed earlier this month, transfers the majority interest of the business to Concord Pacific and HB Management. An affiliate of HQ Capital, an original shareholder, continues to own a minority interest in the business.

“It was a pleasure to work with HQ Capital through this successful transaction. We are delighted to have HQ as our ongoing partner to continue this wonderful venture on multiple dimensions. We are also convinced this partnership will create an enormous amount of synergy and value for our investors. The future of CP Capital will continue its anchor in the U.S. multifamily sector with added dimensions in Canada, Europe and Asia,” said David Ju, Vice President at Concord Pacific.

Jon Breiner of Paragon Real Estate Advisors added, “The new partnership allows for the combination of a deep team of experts with vast knowledge and experience across all areas of the fast-evolving multifamily sector. We are incredibly excited to launch this new brand and look forward to working alongside CP Capital as it continues to generate strong returns for its clients and reinforce its position as a leader in the U.S. multifamily investment market.”

The management team remains in place and will continue to execute the company’s investment strategy and other operations. A newly formed board of directors will include members from all three companies under its new brand.

“We are excited to welcome our new partners. With Concord Pacific and Paragon Real Estate Advisors, we will continue to support CP Capital’s growth as well as expand into new markets. By integrating our expertise with their already successful investment acumen, we believe CP Capital is perfectly positioned to capture opportunities in the U.S. real estate market,” said Dr. Bernd Türk, CEO of HQ Capital.

“We look forward to working together with Concord Pacific and Paragon Real Estate Advisors, who share our values as well as a strong understanding of the residential market. Their wide-ranging experience and capital positions us for long-term growth and will help us identify new opportunities for our investors and business partners. With this new partnership, we are well-equipped to build on our 30+-year track record of delivering attractive, risk-adjusted returns to our investors,” said Jeremy Katz, Co-Head of CP Capital.

Since its inception as Real Estate Capital Partners in 1989, CP Capital has invested in approximately $15 billion of U.S. real estate through sponsored funds and separate accounts on behalf of global institutions, family offices and ultra-high net worth individuals. Consistent participation in the market over the past three decades has enabled CP Capital to develop deep relationships with many of the top national and regional real estate developers, owners, operators, and brokers in the United States, providing the firm with access to a pipeline of exclusive investment opportunities.

CP Capital will continue to focus on structuring institutional-quality, diversified multifamily investment vehicles, and working with longstanding development partners in growth-oriented markets across the U.S. to create apartment communities that enrich the lives of their residents.

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Filed Under: REAL ESTATE

How Do FHA 203K Loans Work

August 30, 2021 by Staff Reporter

203k FHA Loans Explained

Are you considering buying a home that needs work? When buying a fixer-upper, one of your primary considerations should be how you will finance the project. One of the better options is what’s known as an FHA 203k loan.

FHA 203K Mortgage is the term that designates funding dedicated to purchasing and refurbishing your primary residence home. It is a more relaxed type of loan since the U.S. government guarantees it.

The beauty of FHA 203k loans is that you can combine the financing of the purchase of a home and the cost to make repairs and renovations. You will only need to get one loan with this type of mortgage instead of getting two.

Let’s take a look at all the things you should know about this type of financing.

What Should You Know about the FHA 203K Mortgage?

If you want money to buy a home to live in with your entire family, refinance it, or have this house renovated and improved, the easy solution is to apply for an FHA 203K mortgage. It allows you to pay for the renovations in one loan.

It is an affordable financing option for many buyers. It can give you access to better living areas, increasing the number of options for the purchase.

The good news is that the Federal Housing Administration guarantees this type of loan. This means that their terms and conditions and the qualification requirements tend to be more lenient.

You will need to follow the steps of mortgage approval like conventional loans but will also have to detail other things such as the renovation costs.

How Does the FHA 203k Mortgage Work?

This type of financing comes in two versions. There is the standard FHA version and the limited version, which is also referred to as “streamline.” In both cases, you receive the option to refinance.

Loan Limitation

All FHA 203k loans have specific rules regarding the amount you are approved as a loan for renovation. Keep in mind that upgrades to your home do qualify. However, what you can do does not include luxury appointments, like swimming pools or gazebos.

Here are the loan limitations for each FHA mortgage version:

  • For the FHA 203k Standard: The renovations must amount to a minimum of $5,000. You can put on your restoration list the major structural undertakings that need to be completed. When you want to go for a standard FHA 203k loan, you must first hire a HUD consultant to supervise all work in the project.
  • For the FHA 203k Limited: You can borrow up to $35,000 for the refurbishment. This version of the FHA 203k mortgage doesn’t accept the structural repair works for your house.

Here is a general list of the type of works that you can cover with an FHA 203(k) mortgage. Keep in mind that this is just a selection, and many more others may qualify.

  • Improvements concerning utilities
  • Improvements to make the home more aesthetically appealing
  • Removing safety and health issues
  • Plumbing, sewerage works
  • Repairing or replacement for the roof, downspouts, gutters
  • Repairing or replacement of flooring
  • Landscaping improvements
  • Facilities for disabled persons
  • Energy-efficiency upgrades.

It is advantageous to start your renovation project immediately after the house purchase. Consequently, you need to get a good deal with a contractor in advance. Each step involves paperwork and procedures that might take some time, and you only have an interval of six months to complete the project.

Do You Qualify for an FHA 203k loan?

As we have previously said, this is a more relaxed loan when compared to other usual types. However, it is a very niche mortgage, and the borrowing limits are not that permissive.

What do you need to qualify?

  • A credit score of a minimum of 500 points. This is the lowest minimum because some lenders have an even higher limit. You need to have at least 500 score points if you want to have a good chance of getting this loan.
  • The down payment for the FHA 203k loan also depends on your credit score. If you are ranking 580 or more, the down payment required is only 3.5% of the loan. If the credit score is around 500 – 579, you will be asked for a 10% down payment. However, they accept money coming as gifts from family and friends. In any case, you benefit from assistance through homebuyer programs.
  • The maximum amount you could get through FHA 203k reaches $356,362 for low-cost areas and $822,375 for luxury areas. You can consult with a mortgage broker or lender to know the maximum loan amount for your area.
  • If you’ve experienced foreclosure, you don’t have any real chance to receive an FHA 203k mortgage, especially if you have experienced it somewhere during the last three years.

How Do You Get an FHA 203k?

There are a few standard steps that you must follow:

  • Team up with a lender approved by the FHA. Follow all of the traditional steps for getting a mortgage.
  • You will be verified, so you must fill in your Social Security number, plus all possible documents that prove your constant income, your credit score, and any potential debt.

Choose your lender according to your current financial situation and needs. Each one will cover a certain need on the market.

Should You Apply for an FHA 203k?

The FHA 203(k) mortgage is highly appreciated among those searching for a new home, especially if there are still renovations to do after the purchase. However, as with all other similar decisions, there are always pros and cons to analyze before taking this step.

Pros

  • The interest rate is lower than for credit cards and personal loans;
  • Covers the mortgage installments for the entire renovation period;
  • The requirements are minimum, a small down payment, and a certain credit score.

Cons

  • You are required to get FHA mortgage insurance with this type of rehab loan.
  • With an FHA 203k rehab loan, you can apply only for your primary residence. Investment real estate does not qualify.
  • You’ll have to contact a HUD consultant and an experienced contractor for the renovation.
  • You may find out the time to close is longer with this type of financing.

Final Thoughts on FHA 203k Loans

The FHA 203k rehabilitation loan is worth considering for anyone who is buying a home that needs work. Like any loan product, it is vital to do your due diligence. You should now have a much better understanding of how an FHA 203k loan works. Best of luck with your purchase and project.

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Filed Under: REAL ESTATE

Broad-Based Rallies Last Week Lifted Most Asset Classes

August 30, 2021 by Staff Reporter

US bonds were last week’s outlier, posting a slight decline. Otherwise, all the major asset classes rose last week, based on a set of ETFs for the trading week through Aug. 27.

Leading the gainers: commodities. The equal-weighted WisdomTree Continuous Commodity Index Fund (NYSE:) jumped 4.7%. The increase marked the fund’s strongest weekly advance in nearly four months, although the rally wasn’t enough to lift the ETF out of its recent trading range.

Stocks in emerging markets were a close second-best performer last week. Vanguard FTSE Emerging Markets (NYSE:) jumped 4.3%, lifting the ETF to its highest close since Aug. 12.

The only loser (just barely) last week among the major asset classes: Vanguard Total Bond Market Index Fund ETF Shares (NASDAQ:). The fund slipped fractionally, losing a trivial 3 basis points. Despite the setback, BND continues to trade in a tight in August after a steady March-through-July rally.

A benchmark portfolio that holds all the major asset classes rebounded last week. The Global Market Index (GMI.F) gained 1.6%, recovering all its losses from the previous week and more. This unmanaged benchmark (maintained by CapitalSpectator.com) holds all the major asset classes (except cash) in market-value weights via ETF proxies.

ETF Performance Weekly Total Returns

Turning to the one-year window, US real estate investment trusts (REITs) continue to lead. Vanguard Real Estate Index Fund ETF Shares (NYSE:) is up 35.2% on a total return basis. The second-best one-year performer: US stocks via Vanguard Total Stock Market Index Fund ETF Shares (NYSE:), which is up 33.8% over the past 12 months.

All the proxy funds are posting one-year gains, although by the barest of margins in two cases: US bonds (BND) and foreign government bonds in developed markets ().

Meanwhile, GMI.F is up a strong 22.8% over the past 12 months.

ETF Performance Yearly Total Returns

ETF Performance Yearly Total Returns

Thanks to last week’s widespread rallies, most drawdowns for the proxy ETFs are either zero or close to zero. At Friday’s close, three funds are tied for zero peak-to-trough declines: US Treasury inflation-protected bonds (), US junk bonds () and US stocks ().

GMI.F’s current drawdown is also zero.

Drawdown Distribution Histories

Drawdown Distribution Histories

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Filed Under: REAL ESTATE

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