Your top 10 real estate crowdfunding websites:
http://www.crowdcrux.com/top-real-estate-crowdfunding-websites/
http://www.crowdcrux.com/top-real-estate-crowdfunding-websites/
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Who Is the Typical New-Home Buyer?
Data collected from the National Association of Home Builders and Metrostudy for new-home closings over the past year offers up a closer look at the average new-home buyer and the prices of homes purchased by region.
In the South, of a total of 963,189 closings this year, 87,833 have been new-home closings. The median closing price for a new home is $275,035.29 ($143.47 per square foot). Fifty-six percent of new-home buyers are married (the lowest marriage rate of new-home buyers in the country), and average new-home households have one or two children. New-home buyers are youngest in the South, with the average household age at 40.
Source: "Running the Region: Who Is the Average Home Buyer in Each Corner of the U.S.?" Builder Online (July 23, 2014)
Shared by Sam Thompson with NorthPoint Mortgage
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Shared and taken by Valentina Cirasola, Templar Caves in Crispiano circa 1200
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Welcome to another month, and because it begins on a Friday, we get the highly anticipated Jobs report right off the bat. The jobless rate has fallen to 6.1% in June from 7.5% a year earlier which is the fastest one-year decline since October 1984. Can hiring keep up the strong pace? Economists were predicting new job growth of 230k for July with the unemployment rate staying at the same level from last month, and the payrolls came in at 209k with the unemployment rate rising to 6.2%. Employers have now added more than 200,000 jobs for a sixth straight month for the first time since 1997. There were also positive revisions to the May and June jobs numbers as well. However, on the flip side, the labor participation rate was up just a touch to 62.9% from 62.8% last month and still near a three-plus decade low. And the average hourly wages were only up a penny from a month ago and just higher by 2% from a year ago, below the 3-4% Yellen has been looking for. The muted report adds to the notion that interest rates will be lower-for-longer, as there is nothing glaring in the report to suggest that the Fed could move up their timetable for rising interest rates. Simply put, this report as one analyst put it, “Is a good report for the market. Goldilocks-esque. Not too hot, not too cold.” - Kevin Jones
kevin.jones@lionbank.com
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According to the Census Bureau, rental rates are rising rapidly and homeownership is dropping. http://www.census.gov/housing/hvs/files/qtr214/q214press.pdf
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Shared by Kyoung Woo Park, Dubai UAE
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Current rates:
Shared by Sam Thompson with NorthPoint Mortgage
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After the biggest drop in construction spending since January 2011, contractors may find some relief in the finding that 67% of consumers plan home renovationswithin the next six months, according to the latestrealtor.com home improvement survey. --Trey Garrison in HousingWire http://www.housingwire.com/articles/30888-will-renovation-spending-offset-drop-in-construction-spending
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Shared by Darja Vizjak via Beautiful World, Lake Bled Slovinia
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Construction spending in June came in at a seasonally adjusted annual rate of $950.2 billion, down 1.8% from the revised May estimate of $967.8 billion, but 5.5% above the June 2013 estimate of $900.3 billion. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30886-construction-spending-falls-18-from-may-in-biggest-drop-since-jan-2011
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As homeownership drops, the need for rentals rises. As the need for rental rises, the price of rentals rises, too. This means we need more people who are willing to own rental properties across the entire USA.
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Shared and taken by Valentina Cirasola,Old Streets of Putignano Italy
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Shared and taken by Valentina Cirasola, Templar Caves in Crispiano circa 1200
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Welcome to another month, and because it begins on a Friday, we get the highly anticipated Jobs report right off the bat. The jobless rate has fallen to 6.1% in June from 7.5% a year earlier which is the fastest one-year decline since October 1984. Can hiring keep up the strong pace? Economists were predicting new job growth of 230k for July with the unemployment rate staying at the same level from last month, and the payrolls came in at 209k with the unemployment rate rising to 6.2%. Employers have now added more than 200,000 jobs for a sixth straight month for the first time since 1997. There were also positive revisions to the May and June jobs numbers as well. However, on the flip side, the labor participation rate was up just a touch to 62.9% from 62.8% last month and still near a three-plus decade low. And the average hourly wages were only up a penny from a month ago and just higher by 2% from a year ago, below the 3-4% Yellen has been looking for. The muted report adds to the notion that interest rates will be lower-for-longer, as there is nothing glaring in the report to suggest that the Fed could move up their timetable for rising interest rates. Simply put, this report as one analyst put it, “Is a good report for the market. Goldilocks-esque. Not too hot, not too cold.” - Kevin Jones
kevin.jones@lionbank.com
-------------------------------------------------------
According to the Census Bureau, rental rates are rising rapidly and homeownership is dropping. http://www.census.gov/housing/hvs/files/qtr214/q214press.pdf
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Shared by Kyoung Woo Park, Dubai UAE
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Current rates:
30 Year Fixed: 4.125%
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APR 4.294%
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15 Year Fixed: 3.250%
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APR 3.453%
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7/1 ARM: 3.250%
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APR 3.434%
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5/1 ARM: 2.875%
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APR 3.365%
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FHA 30 Year Fixed: 3.750%
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APR 5.423%
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Jumbo 30 Year Fixed: 4.125%
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APR 4.277%
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Jumbo 15 Year Fixed: 3.500%
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APR 3.740%
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Jumbo 7 year ARM: 3.250%
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APR 3.651%
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Jumbo 5 year ARM: 3.000%
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APR 3.527%
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After the biggest drop in construction spending since January 2011, contractors may find some relief in the finding that 67% of consumers plan home renovationswithin the next six months, according to the latestrealtor.com home improvement survey. --Trey Garrison in HousingWire http://www.housingwire.com/articles/30888-will-renovation-spending-offset-drop-in-construction-spending
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Shared by Darja Vizjak via Beautiful World, Lake Bled Slovinia
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Construction spending in June came in at a seasonally adjusted annual rate of $950.2 billion, down 1.8% from the revised May estimate of $967.8 billion, but 5.5% above the June 2013 estimate of $900.3 billion. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30886-construction-spending-falls-18-from-may-in-biggest-drop-since-jan-2011
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As homeownership drops, the need for rentals rises. As the need for rental rises, the price of rentals rises, too. This means we need more people who are willing to own rental properties across the entire USA.
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Shared and taken by Valentina Cirasola,Old Streets of Putignano Italy
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Total nonfarm payroll employment increased by 209,000 in July, well below the expected 230,000 and below June’s 298,000.
On the plus side, that number does keep pace with replacement, but not enough to make a dent in the sum of job losses over the past six years. It is the sixth month of replacement level job growth. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30885-unemployment-rate-rises-to-62-as-job-growth-misses-expectations
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Peter Morsi:
No surprise, average family income, adjusted for inflation has fallen from about $55,600 in 2007 to $51,000 even as the gap between families at the bottom and top widens.
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Shared and taken by M. Friedrich, Threshing floor (Belgium?)
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July was a strong month for mortgage originations.
“With approximately $112 billion of originations in the month of July alone, we believe third quarter is well on its way to surpassing 2Q results,” FBR tells clients. “That said, we expect August and September to slow relative to July. Should these prove as strong, our outlook for FY14 industry origination volumes could improve from our current expectation for a sub $1 trillion market.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30911-early-mortgage-data-suggests-july-was-strongest-origination-month-yet
“With approximately $112 billion of originations in the month of July alone, we believe third quarter is well on its way to surpassing 2Q results,” FBR tells clients. “That said, we expect August and September to slow relative to July. Should these prove as strong, our outlook for FY14 industry origination volumes could improve from our current expectation for a sub $1 trillion market.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30911-early-mortgage-data-suggests-july-was-strongest-origination-month-yet
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The Government Accountability Office will look into theCFPB’s organizational culture and management practices in light of allegations that bureau managers are discriminating against employees based on race and gender and retaliating against employees who complain.
Investigations and Oversight Subcommittee Chairman Rep. Patrick McHenry, R-N.C., said the GAO had agreed to conduct the review during a hearing with CFPB Director Richard Cordray.
(And the CFBP is investigating mortgage lenders for discrimantion!)----------------------------------------------
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